证券代码：688621 证券简称：阳光诺和 公告编号：2025-101 北京阳光诺和药物研究股份有限公司 关于发行股份及可转换公司债券购买资产并募集配 套资金暨关联交易申请材料获得上海证券交易所受理的公 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。 北京阳光诺和药物研究股份有限公司（以下简称"公司"）拟通过发行股份 及支付可转换公司债券购买江苏朗研生命科技控股有限公司 100%股权，并向不 超过 35 名特定投资者发行股份募集配套资金（以下简称"本次交易"）。 公司于 2025 年 11 月 18 日收到上海证券交易所（以下简称"上交所"）出 具的《关于受理北京阳光诺和药物研究股份有限公司发行股份购买资产并募集配 套资金申请的通知》（上证科审（并购重组）〔2025〕34 号）。上交所依据相 关规定对公司报送的发行股份购买资产并募集配套资金的申请文件进行了核对， 认为该项申请文件齐备，符合法定形式，决定予以受理并依法进行审核。 公司本次交易尚需经上交所审核，并获得中国证券监督管理委员会（以下简 称"中国证监会"）注册同 ...

股票代码：688621 股票简称：阳光诺和 上市地点：上海证券交易所 北京阳光诺和药物研究股份有限公司 发行股份及可转换公司债券购买资产 并募集配套资金暨关联交易报告书 （申报稿） | 项目 | 交易对方 | | --- | --- | | | 利虔、赣州朗颐投资中心（有限合伙）、刘宇晶、赣州国智股权投资合伙 | | | 企业（有限合伙）、杭州宏腾医药创业投资合伙企业（有限合伙）、杭州 | | | 方汭创业投资合伙企业（有限合伙）、杭州凯泰民德投资合伙企业（有限 | | | 合伙）、丽水同达创业投资合伙企业（有限合伙）、广州广发信德一期健 | | | 康产业投资企业（有限合伙）、杭州海达明德创业投资合伙企业（有限合 | | | 伙）、宁波海达睿盈创业投资合伙企业（有限合伙）、陈春能、广州易简 | | | 鼎虹股权投资合伙企业（有限合伙）、万海涛、苏州中誉赢嘉健康投资合 | | 发行股份 | 伙企业（有限合伙）、广州正达创业投资合伙企业（有限合伙）、康彦 | | 及可转换 | 龙、冯海霞、武汉火炬创业投资有限公司、武汉开发投资有限公司、珠海 | | 公司债券 | | | | 横琴中润康健投资合伙企业（有限合伙） ...

证券代码：688621 证券简称：阳光诺和 公告编号：2025-102 北京阳光诺和药物研究股份有限公司 关于发行股份及可转换公司债券购买资产并募集配 套资金暨关联交易报告书（申报稿） | 重组报告书主要章节 | 重组报告书修订情况说明 | | --- | --- | | 第八节 本次交易的合规 | 更新"八、本次交易符合《收购管理办法》第七十四条、第六十 一条第一款第（一）项、第六十三条第一款第（三）项的规定" | | 性分析 | | | | 关于审议情况的表述。 | | 第十二节 风险因素 | 更新"一、（一）本次交易的审批、核准风险"。 | | 第十四节 独立董事及中 | | | 介机构关于本次交易出 | 更新"三、法律顾问意见"的结论性意见。 | | 具的意见 | | | 附件 | 1、更新"附件一：交易对方历史沿革概况"中朗颐投资、广州 | | | 正达的历史沿革； | | | 2、补充更新"附件二、交易对方穿透核查情况"。 | 特此公告。 北京阳光诺和药物研究股份有限公司董事会 2025 年 11 月 20 日 公司于 2025 年 11 月 18 日收到上海证券交易所出具的《关于受理北京阳光 诺 ...

阳光诺和公告，公司拟通过发行股份及支付可转换公司债券购买江苏朗研生命科技控股有限公司100% 股权，并向不超过35名特定投资者发行股份募集配套资金。公司于2025年11月18日收到上海证券交易所 出具的《关于受理北京阳光诺和药物研究股份有限公司发行股份购买资产并募集配套资金申请的通 知》。上交所决定予以受理并依法进行审核。本次交易尚需经上交所审核，并获得中国证监会注册同意 后方可实施。 ...

Core Viewpoint - Yangguang Nuohuo (688621) has received approval from the Shanghai Stock Exchange for its application to issue shares for asset acquisition, indicating a strategic move to enhance its asset base and financial position [1] Group 1: Financing Details - The company plans to raise a total of 865 million yuan through this issuance, which reflects its commitment to securing necessary funds for the acquisition [1] - The independent financial advisor for this issuance is Guolian Minsheng Securities Co., Ltd., highlighting the involvement of established financial institutions in the process [1]

Investment Rating - The report recommends a "Buy" rating for multiple companies in the pharmaceutical sector, including Junshi Biosciences, Hualing Pharmaceutical-B, Aorite, and others [1]. Core Views - The pharmaceutical sector experienced a 3.29% increase this week, outperforming the CSI 300 index by 4.37 percentage points. Sub-sectors such as pharmaceutical commerce, pharmacies, and innovative drugs performed well, while medical devices and consumables lagged [2][12]. - The report emphasizes the importance of market pricing power and the impact of liquidity and risk appetite on investment strategies, particularly in innovative drugs and related supply chains [2][12]. - The report highlights the upcoming patent expirations for small molecule drugs, which are expected to create significant demand for raw materials, with a projected sales impact of $390 billion from 2025 to 2030 [3][13]. Summary by Sections Industry Performance - The pharmaceutical sector's performance this week was characterized by a 3.29% increase, with notable performances in pharmaceutical commerce (+7.31%), pharmacies (+6.83%), and innovative drugs (+5.01%). In contrast, medical devices (0.16%) and new medical infrastructure (1.18%) showed weaker performance [17][29]. - The overall price-to-earnings (P/E) ratio for the pharmaceutical industry is reported at 30.84 times, with a premium of 25.08% compared to the overall A-share market excluding the financial sector [33]. Company Dynamics - Notable company announcements include: - Prologis Pharmaceuticals received a European certificate for its product, enhancing its international market prospects [18]. - Jianyou Co. announced FDA approval for its production site, expanding its manufacturing capabilities [19]. - Fuyuan Pharmaceuticals received a drug registration certificate from the National Medical Products Administration, allowing for the marketing of its product [20]. - The report suggests focusing on companies benefiting from domestic innovative drug support policies, such as Yangguang Nuohuo and Nuosige, as well as those with strong overseas business prospects [15][7]. Raw Materials - The report indicates that the raw materials sector is expected to see a significant increase in demand due to patent expirations, with a projected sales impact of $390 billion from 2025 to 2030. The production of raw materials in H1 2025 reached 1.935 million tons, reflecting an 8.2% year-on-year increase [3][13]. - Companies recommended for attention in the raw materials sector include Aorite, Prologis Pharmaceuticals, and Aoxiang Pharmaceuticals, focusing on innovation and strong performance [3][16].

Core Viewpoint - As of November 14, a total of 96 stocks in the Shanghai and Shenzhen markets have experienced net buying from major funds for five consecutive days or more, indicating strong investor interest in these stocks [1] Group 1: Stocks with Significant Net Buying - The stocks with the longest consecutive net buying days are CITIC Bank and Galaxy Microelectronics, both having seen net buying for 13 consecutive trading days [1] - Other notable stocks with significant net buying days include Xinke Mobile, Mingchen Health, Hongrida, Xianggang Technology, Lianrui New Materials, Hualan Biological Engineering, Sunshine Nuohuo, and Zhongguang Optical [1]

Market Overview - The main funds in the Shanghai and Shenzhen markets experienced a net outflow of 58.897 billion yuan, with the Sci-Tech Innovation Board seeing a net outflow of 3.887 billion yuan [1] - A total of 232 stocks saw net inflows, while 360 stocks experienced net outflows [1] Sci-Tech Innovation Board Performance - On the Sci-Tech Innovation Board, 188 stocks rose while 396 stocks fell [1] - The stocks with the highest net inflows included Shengyi Electronics with 237 million yuan, followed by Shijia Photon and BeiGene-U with 188 million yuan and 178 million yuan respectively [1] Continuous Fund Flow Analysis - There are 49 stocks with continuous net inflows for more than three trading days, with Hangzhou Kelin leading at 11 consecutive days [2] - 137 stocks have seen continuous net outflows, with Aerospace Hongtu experiencing the longest streak at 13 days [2] Top Net Inflow Stocks - The top stocks by net inflow include: - Shengyi Electronics: 236.96 million yuan, 13.68% inflow rate, 2.06% increase [2] - Shijia Photon: 187.59 million yuan, 5.69% inflow rate, 2.19% increase [2] - BeiGene-U: 177.93 million yuan, 9.92% inflow rate, 5.62% increase [2] Notable Outflow Stocks - The stocks with the highest net outflows include: - Trina Solar: 444.5 million yuan, 6.43% decrease [1] - Western Superconducting: 333 million yuan [1] - Lanke Technology: 291 million yuan [1]

Core Insights - The medical services sector experienced a slight increase of 0.14% on November 12, with Chengda Pharmaceutical leading the gains [1] - The Shanghai Composite Index closed at 4000.14, down 0.07%, while the Shenzhen Component Index closed at 13240.62, down 0.36% [1] Medical Services Sector Performance - Chengda Pharmaceutical (301201) closed at 35.90, up 6.34% with a trading volume of 107,700 shares and a transaction value of 386 million [1] - Innovative Medical (002173) closed at 23.47, up 5.67% with a trading volume of 805,700 shares and a transaction value of 189.6 million [1] - ST Zhongzhu (600568) closed at 2.08, up 5.05% with a trading volume of 391,000 shares [1] - Other notable gainers include ST Biological (000504) up 5.00%, Sunshine Nuohe (688621) up 4.49%, and Bid Medical (688073) up 3.65% [1] Fund Flow Analysis - The medical services sector saw a net inflow of 604 million from institutional investors, while retail investors experienced a net outflow of 615 million [2] - Major stocks with significant net inflows include WuXi AppTec (603259) with 76.27 million and Innovative Medical (002173) with 57.21 million [3] - Conversely, Sunshine Nuohe (688621) experienced a net outflow of 98.24 million from institutional investors [3]

Group 1 - The cell immunotherapy sector experienced a significant rally in the afternoon, with Kaineng Health hitting a 20% limit up, and Jimin Health, Zhongyuan Qihe, and Nanjing Xinbai also previously reaching their limit up [1] - Sanyuan Gene saw an increase of over 10%, while Chengda Pharmaceutical and Sunshine Nuohe also followed the upward trend [1] - A recent research paper published in the journal Nature Biotechnology indicates that low-intensity ultrasound treatment can eliminate neurotoxic debris in the brains of mice induced with hemorrhagic stroke [1]