科创创新药ETF汇添富（589120）标的指数成分股多数冲高，荣昌生物、百利天恒涨超5%，百济神州涨超4%，泽璟制药、博瑞医药等涨幅居前， 特宝生物、益方生物等小幅回调。 【科创创新药ETF汇添富（589120）标的指数前十大成分股】 | 序号 | 代码 | 名称 | 申万一级行业 | 涨跌幅 | 估算权重 | | --- | --- | --- | --- | --- | --- | | 1 | 688235 | J-Z**KD | 医药生物 | 4.04% | 10.43% | | 2 | 688578 | 艾力斯 | 医药生物 | 0.82% | 9.10% | | 3 | 688506 | 百利天恒 | 医药生物 | 5.10% | 7.89% | | র্ব | 688180 | 君实生物-U | 医药生物 | 1.10% | 6.70% | | 5 | 688331 | 荣昌生物 | 医药生物 | 5.51% | 6.35% | | 6 | 688266 | 泽昌制药-U | 医药生物 | 3.74% | 6.07% | | 7 | 688166 | 博瑞医药 | 医药生物 | 2.27% | 4 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 300436 | 广生堂 | 116.01 | 7.50% | 14.43万 | | 16.55 Z | | 002294 | 信立泰 | 48.15 | 4.27% | 11.80万 | | 5.64亿 | | 688266 | 泽瑁制药 | 90.30 | 4.19% | 3.15万 | | 2.80亿 | | 000739 | 普洛药业 | 18.98 | 4.17% | 12.14万 | | 2.26亿 | | 300204 | 舒泰神 | 27.19 | 4.14% | 24.83万 | | 6.73亿 | | 662889 | 华纳药厂 | 48.04 | 3.98% | 3.61万 | | 1.70亿 | | 600079 | ST人福 | 19.02 | 3.65% | 41.55万 | | 7.86亿 | | 300016 | 北陆药业 | 10.35 | 3.19% | 74.51万 | | 7.74亿 | | ...

2月4日，A股市场呈现出先抑后扬态势，三大指数午后强势回升，沪指成功站上4100点，截止收盘，沪 指上涨34.46点，涨幅0.85%报4102.20点，深成指上涨29.17点，涨幅0.21%报14156.27点，创业板指下跌 13.38点，跌幅0.40%报3311.51点；沪深两市成交额2.48万亿，全市场超3200只个股上涨。 盘面热点快速轮动，煤炭概念掀起涨停潮，十余只成分股涨停，陕西黑猫、兖矿能源、中煤能源涨停； 太空光伏概念爆发，中来股份20cm涨停，国晟科技2连板。机场航运概念走强，中国东航、华夏航空涨 停。房地产板块表现活跃，荣安地产、财信发展、我爱我家涨停；氢能源概念快速拉升，京城股份、致 远新能涨停；玻璃玻纤、HIT电池、房地产开发及装修建材等板块涨幅居前；下跌方面，AI应用概念集 体下挫，引力传媒、天地在线跌停，值得买、世纪恒通等多股大跌；腾讯云板块下挫，泛微网络跌停； 贵金属板块走低，四川黄金跌近9%；另外，文化传媒、游戏及算力概念等跌幅居前。 多个板块表现活跃 机构观点 国盛证券：AI的影响不局限于软件领域，各领域都有抓住AI时代机遇的软件公司崛起，如广告领域的 Applovin、视觉设 ...

Core Insights - The report highlights significant target price increases for several companies, with 百利天恒 leading at 375.97%, followed by 泽璟制药 at 88.56% and 长城汽车 at 83.66% [1][2]. Target Price Increases - 百利天恒 (CITIC Securities) has a target price increase of 375.97%, with a latest price of 1322.00 CNY [2]. - 泽璟制药 (Huatai Securities) shows a target price increase of 88.56%, with a latest price of 166.16 CNY [2]. - 长城汽车 (CITIC Securities) has a target price increase of 83.66%, with a latest price of 38.00 CNY [2]. - Other notable increases include 工业富联 (Huatai Securities) at 73.31% and 宁德时代 (Dongwu Securities) at 71.71% [2]. Broker Recommendations - A total of 265 companies received broker recommendations from January 26 to February 1, with 青岛银行 receiving the highest number at 8 recommendations [3]. - 先导智能 and 万辰集团 each received 5 recommendations [3]. Rating Adjustments - During the same period, 8 companies had their ratings upgraded, including 上海家化 (Guolian Minsheng Securities) from "Hold" to "Recommend" [4]. - 中兴通讯 (Dongguan Securities) was upgraded from "Cautious Recommend" to "Buy" [4]. - 特变电工 (Huatai Securities) was upgraded from "Hold" to "Buy" [4]. Rating Downgrades - Two companies had their ratings downgraded, including 金辰股份 (Zheshang Securities) from "Buy" to "Hold" [5]. - 华设集团 (Guotai Junan Securities) was downgraded from "Buy" to "Hold" [5]. First Coverage - A total of 75 instances of first coverage were reported, with 陕西旅游 receiving a "Outperform Industry" rating from China International Capital Corporation [6]. - 柏楚电子 was rated "Hold" by Guotai Junan Securities, and 博汇纸业 received a "Buy" rating from Guohai Securities [6].

Core Viewpoint - The report highlights significant target price increases for several listed companies from January 26 to February 1, with notable mentions including Baili Tianheng, Zexing Pharmaceutical, and Great Wall Motors, indicating strong bullish sentiment in the market for these stocks [1][2]. Target Price Increases - Baili Tianheng (688506) has a target price increase of 375.97%, with a highest target price set at 1322.00 yuan [2]. - Zexing Pharmaceutical (688266) shows a target price increase of 88.56%, with a highest target price of 166.16 yuan [2]. - Great Wall Motors (601633) has a target price increase of 83.66%, with a highest target price of 38.00 yuan [2]. - Other companies with notable target price increases include Industrial Fulian (601138) at 73.31% and CATL (300750) at 71.71% [2][3]. Broker Recommendations - A total of 265 listed companies received broker recommendations during the period, with Qingdao Bank receiving the highest number of recommendations at 8 [3][4]. - Other companies with multiple recommendations include Xian Dao Intelligent and Wancheng Group, each receiving 5 recommendations [3][4]. Rating Adjustments - Eight companies had their ratings upgraded, including Shanghai Jahwa (600315) from "Hold" to "Buy" and ZTE Corporation (000063) from "Cautious Buy" to "Buy" [5][6]. - Two companies had their ratings downgraded, including Jincheng Shares (603396) from "Buy" to "Hold" and Huasheng Group (603018) from "Buy" to "Hold" [6]. First-Time Coverage - During the same period, 75 instances of first-time coverage were reported, with notable ratings including Shaanxi Tourism (603402) receiving a "Outperform Industry" rating and Bichu Electronics (688188) receiving a "Buy" rating [7].

Investment Rating - The report maintains a rating of "Buy" for the pharmaceutical and biotechnology sector [5]. Core Insights - The report emphasizes the continuous focus on investment opportunities related to AI in healthcare, driven by the growth of Tencent's AI applications and the need for data-driven solutions in medical settings [2][21]. - The investment logic centers around "data closed-loop" and "scene demand," highlighting AI's role as a core productivity driver in healthcare under the dual pressures of cost control and technological advancements [22]. - The report outlines a three-stage clinical value investment strategy, focusing on innovative drug chains and medical devices, with specific recommendations for companies in these sectors [3][27]. Summary by Sections Market Review - Last week, the A-share pharmaceutical and biotechnology index fell by 3.31%, underperforming the CSI 300 index by 3.39 percentage points and ranking 22nd among 31 sub-industries [1][15]. - The Hong Kong Hang Seng Medical Health Index also declined by 2.98%, lagging behind the Hang Seng Index by 4.69 percentage points [1][15]. R&D Progress - Recent developments include new drug applications from companies such as Hengrui Medicine and Innovent Biologics, with ongoing clinical trials for various products [30]. Key Companies and Valuation - The report provides a detailed earnings forecast and valuation table for key companies, recommending "Buy" for several firms including Innovent Biologics, WuXi AppTec, and Mindray Medical [4][27]. AI Healthcare Investment Focus - The report identifies several core areas for AI in healthcare, including AI drug development, medical imaging, chronic disease management, and surgical robotics, emphasizing the importance of proprietary data and business scenarios for competitive advantage [22][24]. Annual Investment Strategy - The report suggests that the investment focus should increasingly emphasize the clinical value of pharmaceuticals, with a positive outlook on innovative drug chains and high-end medical devices [3][26].

图片来源：世界知识产权组织（WIPO） 证券之星消息，根据企查查数据显示泽璟制药（688266）公布了一项国际专利申请，专利名为"卤代亚 烷基取代环烷基或杂环基类抑制剂及其制备方法和应用"，专利申请号为PCT/CN2025/110184，国际公 布日为2026年1月29日。 专利详情如下： 今年以来泽璟制药已公布的国际专利申请1个。结合公司2025年中报财务数据，2025上半年公司在研发 方面投入了1.97亿元，同比增8.47%。 数据来源：企查查 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

报告期内，公司营业收入实现较大幅度增长，主要系药品销量增长所致，其中：重组人凝血酶自本报告 期正式纳入国家医保药品目录后，药品销量增长明显；吉卡昔替尼片于本报告期内获批上市并开始商业 化销售，带动公司营业收入增长。报告期内，公司扣除非经常性损益前后的归属于上市公司所有者的净 利润均为负，预计亏损较上年同期有所增加，主要系销售费用和研发费用增长所致。 格隆汇1月30日丨泽璟制药(688266.SH)公布，经财务部门初步测算，预计2025年年度实现营业收入 79,649.00万元至82,899.00万元，与上年同期相比，同比增加49.45%至55.55%。预计2025年年度实现归 属于母公司所有者的净利润为-19,139.00万元至-13,960.00万元，比上年同期亏损增加176.92万元到 5,355.92万元。预计2025年年度归属于母公司所有者扣除非经常性损益后的净利润为-23,787.00万元 至-17,253.00万元，比上年同期亏损增加136.97万元到6,670.97万元。 ...

Revenue Projections - The company expects to achieve an annual revenue of between 796.49 million and 828.99 million yuan for 2025, representing a year-on-year increase of 49.45% to 55.55%[2]. - The significant revenue growth is primarily driven by increased sales of pharmaceuticals, particularly after the inclusion of recombinant thrombin in the national medical insurance drug list[4]. - The commercial launch of Jikaxitinib tablets during the reporting period has also contributed to revenue growth[5]. Net Loss Estimates - The projected net loss attributable to the parent company for 2025 is estimated to be between -191.39 million and -139.60 million yuan, an increase in loss of 1.77 million to 53.56 million yuan compared to the previous year[2]. - The expected net loss attributable to the parent company after deducting non-recurring gains and losses is projected to be between -237.87 million and -172.53 million yuan, an increase in loss of 1.37 million to 66.71 million yuan compared to the previous year[2]. - The company anticipates that both net profits before and after deducting non-recurring gains and losses will remain negative, with increased losses attributed to rising sales and research and development expenses[5]. Financial Data and Auditing - The financial data provided in the earnings forecast has not been audited by registered accountants[6]. - Investors are advised to note that the forecast data is preliminary and the final audited financial data will be disclosed in the official 2025 annual report[7].

Core Viewpoint - Zejing Pharmaceutical announced an expected net profit attributable to the parent company for the year 2025 to be between -191 million yuan and -140 million yuan, indicating an increase in losses compared to the same period last year by 1.7692 million to 5.3592 million yuan [1] Financial Performance - The company anticipates achieving an operating revenue of 796 million to 829 million yuan for the year 2025, representing a year-on-year increase of 49.45% to 55.55% compared to the previous year [1]