（文章来源：证券日报） 证券日报网讯 2月13日，药石科技在互动平台回答投资者提问时表示，截至2026年1月30日，公司股东 人数为44353户。 ...

福达合金：控股股东王达武拟减持不超3%公司股份 福达合金公告，控股股东王达武持有3624.87万股，占26.7626%，因自身资金需求，计划自公告披露之 日起15个交易日后的2026年3月16日-2026年6月15日，通过集中竞价、大宗交易合计减持公司股份不超 过406.34万股，即不超过公司总股本的3%。 *ST松发：下属公司签订17艘船舶建造合同 合同金额合计为16亿-18亿美元 2月12日晚，*ST松发(603268)发布公告称，公司下属公司恒力造船（大连）有限公司近日与欧洲知名船 东签订了17艘船舶建造合同，包括1艘LR2型原油及成品油运输船、8艘30.6万吨超大型原油运输船 （VLCC）、4艘好望角型散货船、4艘6000TEU集装箱船。合同金额合计为16亿-18亿美元。 派瑞股份：与高校合作大容量功率半导体项目 2月12日晚，派瑞股份(300831)发布公告称，公司于2026年2月11日与某高校签订《项目技术合作协 议》，拟在大容量功率半导体器件及配套电力电子模块领域开展设计、仿真分析、试验验证、产品定 型、驱动研制及产销推广等合作；派瑞股份负责芯片设计、制造、封装测试，高校牵头应用验证。协议 自双 ...

证券代码：300725 证券简称：药石科技 公告编号：2026-008 南京药石科技股份有限公司 关于控股股东、实际控制人部分股份质押及解除质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 南京药石科技股份有限公司（以下简称"公司"）于近日收到公司控股股东、 实际控制人杨民民先生的通知，杨民民先生将其所持有的公司部分股份办理了股 票质押及解除质押，具体情况如下： | | | | 本 次 | 质 押 | 本 次 | 质 押 | 占其 | 占公司 | 已质押股份情况 | | 未质押股份情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 持股数量 | 持股 | 和 解 | 质 押 | 和 解 | 质 押 | 所持 | 总股本 | | | | 占未质 | | | | 比例 | 前 质 | 押 股 | 后 累 | 计 质 | 股份 | | 已质押股 | 占已质 | 未质押股份 | | | 名称 | （股） | （%） | 份 ...

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical sector, emphasizing the potential for investment in bottom assets within the industry [5]. Core Insights - The report highlights the ongoing opportunities in the pharmaceutical sector, particularly in areas such as AI in medicine and innovative drug developments, while noting the recent market performance where the pharmaceutical sector outperformed the broader market [11][26]. - It emphasizes the importance of monitoring key milestones and data updates from major conferences in 2026, such as AACR and ASCO, which could significantly impact investment decisions [11]. Summary by Sections Market Performance - The pharmaceutical sector has shown a return of 3.28% since the beginning of 2026, outperforming the Shanghai Composite Index by 2.99 percentage points [26]. - Recent weekly performance indicates a slight increase in the pharmaceutical sector by 0.14%, while the broader market declined by 1.33% [11][26]. Investment Opportunities - The report identifies several key areas for investment, including: - IO plus strategies involving VEGF dual antibodies, which are gaining traction in clinical trials [12]. - ADC (Antibody-Drug Conjugates) with a focus on large indications and new indications that could enhance overseas mapping [14]. - The development of new RAS inhibitors and their potential in treating various cancers, highlighting companies like 加科思 and 劲方生物 [15]. - The commercial potential of CDK4/6 inhibitors in HR+ breast cancer, particularly as patents expire [16]. Key Companies and Recommendations - The report recommends several companies for investment, including: - 药明生物, 泰格医药, 先声药业, 康弘药业, 普洛药业, 美好医疗, 迪安诊断, 和铂医药-B, 药石科技, and 天宇股份, all of which are expected to perform well in the current market environment [8][19]. - It notes that the pharmaceutical sector's current valuation is 22.8 times PE based on 2026 earnings forecasts, indicating a premium over the broader A-share market [30]. Clinical Developments - The report discusses various clinical trials and their implications, such as: - The anticipated data readouts for several ADCs and dual antibodies in 2026, which could significantly influence market dynamics [17][20]. - The ongoing advancements in small nucleic acids and their expected commercialization, which could lead to substantial market growth [19][23]. Regulatory Environment - The report highlights the regulatory landscape, noting that the National Medical Insurance Administration will intensify oversight in 2026, which may impact pharmaceutical companies [22]. Overall Sector Outlook - The report maintains a positive outlook on the pharmaceutical sector, suggesting that despite recent market fluctuations, there are significant opportunities for growth and investment, particularly in innovative therapies and technologies [11][19].

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical sector [5] Core Insights - The pharmaceutical sector is experiencing a rebound in bottom assets, particularly in traditional Chinese medicine, medical services, and pharmacies, driven by market rotation and price increase expectations in raw materials [7][11] - The report emphasizes the importance of focusing on bottom assets that are expected to see turning points and well-adjusted innovative drug sectors, with a positive outlook on growth directions representing the future of the pharmaceutical industry [11] - Key themes include continuous attention to pharmaceutical and medical AI+, as well as significant data updates expected from major conferences in 2026 [11] Summary by Sections Market Dynamics - The pharmaceutical sector has outperformed the broader market, with a return of 3.28% compared to the Shanghai Composite's 0.29% since the beginning of 2026 [26] - The report notes that the pharmaceutical sector's valuation is currently at 22.8 times PE, with a premium of 11.7% over the overall A-share market [30] Key Company Performance - Recommended stocks for February include WuXi Biologics, Tigermed, and others, with a focus on companies that have shown significant pipeline progress or business development expectations [8][36] - The report highlights the performance of companies like Guangsheng Tang and Nuo Cheng Jian Hua, which have made notable advancements in their core pipelines [36] Industry Trends - The report discusses the trend of combining IO plus therapies and the development of new targets in the dual antibody space, indicating a growing trend in clinical applications [12][14] - Attention is drawn to the ADC (Antibody-Drug Conjugate) sector, particularly large indication FIC (First-in-Class) products and the potential for new indications to enhance overseas mapping [14][17] - The report also highlights the evolving landscape in blood cancers, with new therapies showing promise in previously underserved areas [20]

证券代码：300725 证券简称：药石科技 公告编号：2026-007 具体内容详见公司于 2026 年 1 月 16 日在巨潮资讯网披露的《关于变更部分募 集资金用途暨新增募集资金投资项目的公告》（公告编号：2026-002）。 三、募集资金专户变更及开立情况 南京药石科技股份有限公司 关于募集资金项目变更签署募集资金监管协议的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、募集资金基本情况 经中国证券监督管理委员会《关于同意南京药石科技股份有限公司向特定对象 发行股票注册的批复》（证监许可[2020]3060 号）同意注册申请，南京药石科技股 份有限公司（以下简称"公司"）向特定对象发行人民币普通股（A 股）8,385,650.00 股，每股面值 1.00 元，每股发行价格为 111.50 元，共募集资金人民币 934,999,975.00 元。扣除承销费等发行费用（不含本次向特定对象发行股票发行费用可抵扣增值税 进项税额）人民币 6,909,797.80 元，公司募集资金净额为人民币 928,090,177.20 元。 上述募集资金业经中天运会 ...

Investment Rating - The investment rating for the healthcare industry is "Positive" and maintained [14] Core Insights - The funding levels for Chinese innovative pharmaceutical companies are increasing, leading to a gradual improvement in the research and development (R&D) investment sentiment within the industry. This is expected to usher in a new cycle of prosperity for the innovative drug industry chain [5][12] - The trend of external business development (BD) is likely to benefit the domestic early-stage research industry significantly, as new business models allow early-stage projects to become tradable and monetizable assets, enhancing R&D investment returns [13] Summary by Sections Innovative Chain Development Review - Before 2020, multiple factors converged to initiate a significant rise in China's innovative drug sector, leading to the rapid development of the innovative chain, including CXO and life sciences services [10][30] - From 2020 to the first half of 2022, the global public health crisis accelerated capital inflow into the biopharmaceutical sector, resulting in high demand and a leap in the innovative chain segment, which also triggered a wave of IPOs and substantial supply-side expansion [10][39] - The second half of 2022 to 2024 saw a transition from a heated to a cooling phase, with a significant shift in supply-demand dynamics leading to industry internal competition and pressure on revenues and profit margins [10][54][57] Improvement in R&D Investment Sentiment - Starting from 2025, the R&D investment sentiment in China's innovative drug sector is expected to improve, with companies experiencing increased funding levels. The total amount raised through IPOs and additional offerings in 2025 is projected to reach 201.5 billion yuan, a 145% year-on-year increase [11][62] - The potential milestone payments from external BD are expected to reach 880.5 billion yuan in 2025, marking a 185.9% year-on-year increase, indicating a robust funding environment for innovative drug companies [11] Benefits to Early-stage Research Industry - The new external BD business model enhances the R&D investment return rates for Chinese innovative drug companies, thereby increasing their willingness to invest in R&D [11][13] - The early-stage research industry, including drug discovery CROs and clinical trial services, is expected to benefit significantly from the external BD trend, with leading companies in these segments poised for rapid growth [13]

Core Viewpoint - The company, Yaoshi Technology, announced a change in its signing registered accountants for the 2025 audit, with the new signing accountant being Sheng Jie, replacing Zhi Xin [1] Group 1 - Yaoshi Technology received a notice from Beijing Xinghua Accounting Firm regarding the change of signing registered accountants [1] - The original signing accountants were Ma Yunwei and Zhi Xin, with Shi Yanlu as the quality control reviewer [1] - Due to internal adjustments at Beijing Xinghua, the signing accountant for the company has been changed to Sheng Jie [1]

关于变更签字注册会计师的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 南京药石科技股份有限公司（以下简称"公司"）于2025年8月7日召开了第 四届董事会第八次会议，审议通过了《关于改聘会计师事务所的议案》，同意聘 请北京兴华会计师事务所（特殊普通合伙）（以下简称"北京兴华"）为公司2025 年度审计机构。该议案已经2025年8月25日召开的公司2025年第一次临时股东大 会审议通过。具体内容详见公司2025年8月8日于巨潮资讯网（www.cninfo.com.cn） 披露的《关于改聘会计师事务所的公告》（公告编号：2025-050）。 近日，公司收到北京兴华发来的《关于变更南京药石科技股份有限公司签字 注册会计师的告知函》，现就具体情况公告如下： 一、签字注册会计师变更情况 北京兴华作为公司2025年度审计机构，原指派马云伟先生（项目合伙人）、 支鑫先生作为签字注册会计师，时彦禄先生作为质量控制复核人为公司提供审计 服务。由于北京兴华内部工作调整，现签字注册会计师由支鑫先生变更为盛杰先 生。 证券代码：300725 证券简称：药石科技 公告编号：20 ...

本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 证券代码：300725 证券简称：药石科技 公告编号：2026-005 南京药石科技股份有限公司 2026 年第一次临时股东会决议公告 1、本次股东会召开期间没有增加、否决或变更议案情况发生； 2、本次股东会不涉及变更前次股东会决议； 3、本次股东会采取现场投票和网络投票相结合的方式召开。 一、会议召开和出席情况 （一）会议召开情况 1、现场会议召开日期和时间：2026 年 2 月 2 日（星期一）14:00。 2、网络投票日期和时间：2026年2月2日（星期一），其中通过深圳证券交 易所交易系统进行网络投票的具体时间为2026年2月2日9:15-9:25、9:30-11:30和 13:00-15:00；通过深圳证券交易所互联网投票系统投票的具体时间为2026年2月2 日9:15-15:00。 3、现场会议地点：江苏省南京市江北新区华盛路 81 号公司 A 楼会议室。 4、会议召开方式：现场投票与网络投票相结合。 5、会议召集人：公司董事会。 6、会议主持人：董事长杨民民先生。 通过网络投票的股东 2 ...