Group 1 - The A-share market saw a significant decline in innovative drug concept stocks, with notable drops including Aidi Pharmaceutical down over 11% and Yifang Bio down over 5% [1] - Other companies such as Xingqi Pharmaceutical, Zhenbaodao, and Dize Pharmaceutical experienced declines of over 4%, while Rongchang Bio, Hanshang Group, Yuekang Pharmaceutical, Xinlitai, Haishike, Shanghai Yizhong, and Kanghong Pharmaceutical fell by over 3% [1] Group 2 - Aidi Pharmaceutical (688488) reported a decline of 11.33%, with a total market value of 7.835 billion and a year-to-date increase of 14.02% [2] - Yifang Bio (688382) decreased by 5.99%, with a market capitalization of 15 billion and a year-to-date decline of 4.99% [2] - Xingqi Pharmaceutical (300573) fell by 4.82%, with a market value of 19.4 billion and a year-to-date increase of 12.01% [2] - Zhenbaodao (603567) dropped by 4.74%, with a market capitalization of 7.951 billion and a year-to-date decline of 5.38% [2] - Dize Pharmaceutical (688192) decreased by 4.19%, with a market value of 27.5 billion and a year-to-date increase of 2.78% [2] - Rongchang Bio (688331) fell by 3.98%, with a market capitalization of 56.1 billion and a year-to-date increase of 27.79% [2] - Hanshang Group (600774) decreased by 3.93%, with a market value of 3.101 billion and a year-to-date increase of 14.99% [2] - Yuekang Pharmaceutical (688658) dropped by 3.84%, with a market capitalization of 12 billion and a year-to-date increase of 18.40% [2] - Xinlitai (002294) fell by 3.32%, with a market value of 55.5 billion and a year-to-date increase of 0.48% [2] - Haishike (002653) decreased by 3.23%, with a market capitalization of 56.1 billion and a year-to-date decline of 2.44% [2] - Shanghai Yizhong (688091) dropped by 3.17%, with a market value of 11.2 billion and a year-to-date increase of 15.60% [2] - Kanghong Pharmaceutical (002773) fell by 3.15%, with a market capitalization of 29.5 billion and a year-to-date increase of 6.81% [2]

Core Viewpoint - Yifang Biotechnology's stock has experienced a decline of 5.01% on January 22, with a total market value of 15.124 billion yuan and a cumulative drop of 8.66% over three consecutive days [1] Group 1: Company Overview - Yifang Biotechnology (Shanghai) Co., Ltd. was established on January 11, 2013, and went public on July 25, 2022 [1] - The company's main business involves the research, production, and sales of innovative drugs, with 100% of its revenue derived from technology licensing and cooperation [1] Group 2: Shareholder Information - Among the top ten circulating shareholders, a fund under China Europe Fund, the China Europe Medical Health Mixed A (003095), reduced its holdings by 944,700 shares, now holding 8.1477 million shares, which is 1.95% of the circulating shares [2] - The estimated floating loss for the fund today is approximately 11.2438 million yuan, with a total floating loss of 21.2655 million yuan over the three-day decline [2] Group 3: Fund Performance - The China Europe Medical Health Mixed A (003095) fund has a total asset size of 13.843 billion yuan, with a year-to-date return of 4.64% and a one-year return of 21.99% [2] - The fund manager, Ge Lan, has a tenure of 10 years and 362 days, with the best return during this period being 106.94% [3] Group 4: Fund Holdings - The China Europe National Index 2000 Enhanced A (018663) fund holds 10,000 shares of Yifang Biotechnology, unchanged from the previous period, representing 0.29% of the fund's net value [4] - The estimated floating loss for this fund today is about 13,800 yuan, with a total floating loss of 26,100 yuan over the three-day decline [4] Group 5: Additional Fund Manager Information - The fund manager for China Europe National Index 2000 Enhanced A (018663), Qian Yating, has a tenure of 4 years and 82 days, with the best return during this period being 85.19% [5]

Group 1: AI Model Developments - DeepSeek's new model "MODEL1" is reported to be an efficient inference model with lower memory usage, suitable for edge devices and cost-sensitive scenarios, and optimized for long sequence tasks [1] - DeepSeek is expected to launch its next-generation flagship AI model, DeepSeek V4, during the Lunar New Year in mid-February, which is anticipated to significantly enhance code capabilities and potentially surpass leading products like GPT and Claude [1][2] Group 2: AI Industry Growth in China - China's intelligent computing power has reached 1590 EFLOPS, with a rapid emergence of high-quality industry data sets, positioning domestic large models to lead the global open-source ecosystem [3] - By 2025, the number of AI companies in China is projected to exceed 6000, with the core industry scale expected to surpass 1.2 trillion RMB [3] Group 3: AI Sector Investment Insights - The AI industry can be divided into three main segments: foundational layer (hardware computing power), technical layer (large models and algorithm frameworks), and application layer (vertical solutions across industries) [4] - The technical layer is expected to see significant demand and policy support, particularly in semiconductor fields, driven by capital expenditure from the foundational layer and domestic substitution strategies [5] Group 4: Market Performance and Trends - The AI application sector has become a primary focus for investment at the start of 2026, with a year-to-date increase of 19%, leading the A-share market [7] - The CES 2026 event provided insights into the future direction of AI applications, with hardware increasingly penetrating daily life through various forms, including smart glasses and wearable devices [7]

Core Viewpoint - The A-share market is experiencing fluctuations, particularly affecting the innovative drug sector, with the ETF Huatai Innovation Drug (589120) declining by 2.05% and facing a five-day losing streak, despite attracting over 7.9 million yuan in funds [1][3]. Group 1: Market Performance - The Huatai Innovation Drug ETF (589120) has seen a decline in its constituent stocks, with major players like I-Mab and Junshi Biosciences dropping over 3%, and others like BeiGene and Zai Lab falling more than 2% [3]. - The top ten constituent stocks of the ETF show a negative trend, with BeiGene-U down by 2.38% and Junshi Biosciences-U down by 3.42%, indicating a general downturn in the sector [3]. Group 2: Long-term Outlook - Despite the short-term market pressure, the long-term outlook for the innovative drug sector remains positive, with expectations of a clear beta market driven by liquidity recovery at the beginning of the year [4]. - The JPM conference highlighted the achievements of over 20 Chinese pharmaceutical companies, with projections for significant revenue growth in innovative drugs, such as a 25% increase for Heng Rui in 2026 [4]. Group 3: Business Development (BD) Trends - The BD activities in the sector are at a peak, with 17 transactions occurring since January, totaling approximately 10.15 billion USD in upfront payments, significantly exceeding market expectations [5]. - The ongoing trend of foreign companies expanding in China and the increasing flow of funds into the innovative drug sector suggest a favorable environment for growth and investment [5]. Group 4: Investment Strategy - The innovative drug sector is recommended for increased allocation, particularly in Hong Kong stocks, as the market is currently at a relative bottom, with potential for new historical highs [5]. - The ETF focuses on leading innovative drug companies, providing a high degree of exposure to the opportunities presented by the rise of Chinese innovative drugs [5].

证券代码：688382 证券简称：益方生物 公告编号：2026-003 本次股票上市类型为首发限售股份；股票认购方式为网下，上市股数为 160,715,196股。 本次股票上市流通总数为160,715,196股。 本次股票上市流通日期为2026 年 1 月 26 日。 益方生物科技（上海）股份有限公司 首次公开发行部分限售股上市流通公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 一、本次上市流通的限售股类型 根据中国证券监督管理委员会于 2022 年 4 月 1 日出具的《关于同意益方生物 科技（上海）股份有限公司首次公开发行股票注册的批复》（证监许可〔2022〕682 号），同意益方生物科技（上海）股份有限公司（以下简称"公司"）首次公开发 行股票的注册申请。公司首次向社会公众公开发行人民币普通股（A 股）股票 115,000,000 股，并于 2022 年 7 月 25 日在上海证券交易所科创板上市，发行完成 后总股本为 575,000,000 股，其中有限售条件流通股 475,506,983 股 ...

中信证券股份有限公司 关于益方生物科技（上海）股份有限公司 首次公开发行部分限售股上市流通的核查意见 一、本次上市流通的限售股类型 根据中国证券监督管理委员会于 2022 年 4 月 1 日出具的《关于同意益方生 物科技（上海）股份有限公司首次公开发行股票注册的批复》（证监许可〔2022〕 682 号），同意益方生物科技（上海）股份有限公司（以下简称"公司"）首次公 开发行股票的注册申请。公司首次向社会公众公开发行人民币普通股（A 股）股 票 115,000,000 股，并于 2022 年 7 月 25 日在上海证券交易所科创板上市，发行 完成后总股本为 575,000,000 股，其中有限售条件流通股 475,506,983 股，无限售 条件流通股 99,493,017 股。 本次上市流通的限售股为公司首次公开发行部分限售股，限售期为自公司首 次公开发行股票并在科创板上市之日起 42 个月。限售股东 5 名，对应的股份数 量为 160,715,196 股，占公司总股本的比例为 27.79%，具体内容详见公司于 2022 年 8 月 27 日披露于上海证券交易所网站（www.sse.com.cn）及指定媒体的 ...

（记者 张明双） 每经头条（nbdtoutiao）——白银50天涨逾80%，疯狂程度远超黄金，历史上爆炒白银往往预示贵金属 牛市已到高潮，这次有何不同？ 每经AI快讯，益方生物1月16日晚间发布公告称，公司限售股份约1.61亿股将于2026年1月26日解禁并上 市流通，占公司总股本比例为27.79%。 ...

格隆汇1月16日｜益方生物公告称，本次上市流通的限售股为首次公开发行部分限售股，数量为 160,715,196股，占公司总股本的27.79%，将于2026年1月26日起上市流通。自限售股形成至公告披露 日，公司因激励计划归属股份，总股本由5.75亿股变为5.78亿股。此外，公司控股股东、实际控制人、 董监高等对所持股份锁定作出承诺。保荐人认为，本次限售股上市流通符合相关法规要求，无异议。 ...

据港交所文件： 益方生物 科技（上海）股份有限公司- B向港交所提交上市申请书。 ...

据港交所文件：益方生物科技（上海）股份有限公司 - B向港交所提交上市申请书。 ...