NO.1 New Novartis ADC drugs approved for clinical trials in the United States

On April 14th, Novo Nordisk announced that its controlling subsidiary, Jushi Bio, has recently received a notification from the US Food and Drug Administration (FDA) that its clinical trial application for injectable SYS6041 drug, filed by Jushi Bio, has been approved by the FDA and can be conducted in the United States. SYS6041 is a monoclonal antibody conjugated drug (ADC) that can bind to specific receptors on the surface of tumors, enter cells through endocytosis, and release toxins, achieving the effect of killing tumor cells. The clinical indication approved this time is advanced solid tumor.

Comment: This event is an important breakthrough in the company's internationalization research and development process, which not only enhances the company's market attention in the field of innovative drugs, but also brings potential opportunities for future performance growth. However, given the significant decline in the company's performance in 2024 and the high investment in innovative drug research and development, the market's expectations for short-term profit improvement may be cautious. In the long run, if the SYS6041 clinical trial is successfully promoted and commercialized, it is expected to significantly enhance the company's valuation and market competitiveness.

The Phase III clinical trial of the NO.2 Wantai Biological Nine valent HPV vaccine for men has been launched

On April 14th, Wantai Biotechnology announced that the company has launched the "Phase III Clinical Trial of the Nine valent HPV Vaccine for Men" in accordance with the clinical trial protocol, with the main purpose of evaluating the efficacy, immunogenicity, and safety of the nine valent HPV vaccine in the 18-45 year old male population in China. The experiment is currently progressing smoothly, and the first participant has been successfully enrolled in the study recently. Globally, approximately 70000 new cases of cancer in men each year are related to HPV infection, mainly including penile cancer, anal cancer, oropharyngeal cancer, and other head and neck cancers.

Comment: Despite the decline in performance of Wantai Biotechnology in 2024, the successful progress of the male clinical trial of the nine valent HPV vaccine demonstrates its potential in expanding the vaccine market. However, according to the latest news, Merck's nine valent HPV vaccine has been approved for male vaccination, and the follow-up of Wantai Biotechnology will further intensify market competition. Investors need to pay attention to the clinical data and market acceptance of the vaccine to evaluate its impact on Wantai Biotechnology's future performance and valuation.

NO.3 Merck Nine valent HPV Vaccine for Men Approved for Marketing

On April 14th, Merck's 9-valent human papillomavirus vaccine (Saccharomyces cerevisiae) - V503 (trade name: Jiadaxiu 9) was approved for a new indication in China for the prevention of male human papillomavirus (HPV) infection. Jiadaxiu 9 is the only approved nine valent HPV vaccine in the world, first approved by the FDA for marketing in 2014, and has been actively expanding new indications since then. According to the Insight database, there are currently multiple domestic companies joining the nine valent HPV vaccine race, among which Wantai Biotechnology has made the fastest progress and is currently in the stage of listing application.

Comment: In recent years, the sales of Merck's HPV vaccine in the Chinese market have declined. The approval of the male indication is expected to open up new market space. However, experts believe that the willingness of men to receive the vaccine may be low, and the market education cost may be high. In addition, domestic companies such as Wantai Biotechnology's nine valent HPV vaccine have entered the application stage for market launch, and their phase III clinical trials for male indications have also been launched. Investors need to pay attention to how Merck responds to changes in the domestic market and competition from domestic vaccines.

NO.4 Jiuzhou Pharmaceutical's first quarter net profit increased by 5.68% year-on-year

On April 14th, Jiuzhou Pharmaceutical released its first quarter report for 2025, achieving a net profit attributable to shareholders of the listed company of 250 million yuan, a year-on-year increase of 5.68%; The net profit attributable to shareholders of the listed company after deducting non recurring gains and losses was 251 million yuan, a year-on-year increase of 7.17%. The performance growth is mainly due to the steady growth of CDMO (Contract Research and Development Production Organization) business orders, the increasing richness of the company's customer and product pipelines, the rapid improvement of research and development capabilities and product delivery capabilities, and the overall trend of the industry is positive.

Comment: As a leading enterprise in the CDMO industry, Jiuzhou Pharmaceutical has an increasingly diverse customer and product pipeline, and its rapid improvement in research and development and delivery capabilities has given it stronger market competitiveness in the context of overall industry trends. With the continuous growth of CDMO demand in the global pharmaceutical industry, Jiuzhou Pharmaceutical is expected to further enhance its market share and profitability by leveraging its technological advantages and project reserves. However, the international situation is unpredictable, and investors need to pay attention to risks such as intensified industry competition and fluctuations in orders.

NO.5 New Hecheng's net profit in 2024 increased by 117.01% year-on-year

On April 14th, Xinhecheng released its 2024 annual report, achieving a revenue of 21.610 billion yuan, a year-on-year increase of 42.95%; The net profit attributable to shareholders of the listed company was 5.869 billion yuan, a year-on-year increase of 117.01%. The company stated that during the reporting period, the release of new production capacity from projects such as methionine has brought profit growth space to the company. At the same time, due to factors such as the recovery of downstream aquaculture industry and limited supply from other manufacturers on the supply side, the market prices of the company's nutrition products have recovered. The sales quantity and price of the main products in the company's nutrition business segment have increased compared to the same period last year.

Comment: Xinhecheng's performance in 2024 is very impressive. Against the backdrop of downstream aquaculture industry recovery and supply side constraints, the company's nutrition business has seen a significant increase in both quantity and price, driving a substantial improvement in overall performance. In addition, the company plans to distribute a cash dividend of 5 yuan (including tax) for every 10 shares and plans to repurchase shares for equity incentives, demonstrating confidence in future development. This strong performance and active dividend repurchase plan are expected to enhance investors' confidence in the company's future development and drive the stock price to further strengthen.

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