全文可编辑-医药行业2025年投资策略分析报告：行业低点，前瞻性，复苏背景，弹性标的.ppt

liUAXIjiCLF.iTIKS

2024^11^63

SECURITIES

4HM-A:WMSWUlU,

1,(mUOTWOW,HJ0W1WMU,

2,2018-^«^9fe^*^iMie^A423h*^,HI-aWfAWW3,W«^]the#-£;gmtMl*,IVDttitih#,gMmttMt

4202449^124ElUJH^-aa«^T;?1t±a4s]4T^ta^?t^W*£»,ii®±a^s]^®a4k^o5,CDMO^WA^Xaii^Zt#^,a.4-iT-¥-M^a#-XJ».3TH:^«^,

6^2025,4UlWRCXO(CDMO).ih#!$JL£-i£#^o

7,MlObf;:CXOff4kXfe,E^M^TJkKfe,Ft+

SECURITIES

^EiiE52025iElSmffi»j»ia5Fll!*f

01

5?*WSS3 tOSjglooe8t/

I

§□

g?

I

s

Ln

O

NJ

O

NJ

GO

O

\

O\

ffl

fr-

NO

O

NO

£

[*l

?*

-+

£

Jp

*

ft

5d£

O

GJ

O

\

NJ

O

4^

oo

o

NJ

Iffl

4-

t-9-

»

s

%

4*

if

4N

NJ

o

ro

s

k

kt

to

is

W

k

k

-^F

§■

£

a

1^

k

to

[Hio

is

im

k

3-

I

z^i

*uJ4

k

fsi

£

2^-

-N

tocn

Sn

im

k

4i-

3-

k3-

£

k

ER

§?■

k

■4^

kt

M

5

£

M*

0

S

■fc

s

JE

I

o

b

o

2021-11-05

-N

O

O

O

b

o

sNJONJ

2022-01-14

2021-12-10

“O

m

I

2022-02-25

2022-04-01

Q_

cn

2022-05-06

2022-06-10

2022-09-23

2022-11-04

2022-12-09

w

CD

CD

2023-01-13

2023-02-24

2023-03-31

2023-05-05

2023-06-09

NJ

CD

2023-07-14

00

2023-08-18

2023-09-22

2023-11-03

2023-12-08

2024-01-12

p

O

o

2024-02-23

2024-03-29

2024-04-30

2024-06-07

CD

I—4

bo

2024-07-12

2024-08-16

2024-09-20

2024-10-25

l-l-NJNJ

NJ

O

tn

2022-07-15

2022-08-19

jwW

£

5

NJ

ONJNJ

6

I—*o

UJ

NJ

O

NJ

UJ

O

6co

NJ

oNJ

O

6

co

NJ

O

NJ

l-

6

6

UJ

St-

isf

NJ

■Nl

R

0

S

at

NJo

NJui

Sf

9

a

-+4-

43

2itii

$

a

14

MMHUAXISECURITIES

•20244^^,JI#WM£7F),

•2024#47I,«/A#77130E)±;T

UtW:20244«A’t’*O#^^^6W?$#,W#-

Btl’ffl

sm

2%{#sz»f±mtt^n°nmw^Wfij6m!i,saiHawwse^sm

3J4

2024^w

?,R®±SW»r^r®n^r4k.inttanSSr^fi^W«4®»??5®r4kKS,S

®K.S!l®^r4kKSmiJ,Wfi¥«?K*.,«-Jtt

6J4

;WEffiE£W3r¥2024fm£Tmi®

i£SttiaSSttASKCFWffitti,W^MmnftHISffg*jSffl£?i£DRG/DiPtt§4WI$tt®0t«W4;1±®SiW4Ht«£Prgp^Jgtti,;i£

sssffimnBagp^jgth,in±fiy»fsiiam^w*jg,ffiH»r?WKisj«zffl;;s«ffinnn$iTWfmMgp^jgtti,jnrasf®.¥®W;m§

S.ilffiffSWKS^XWJTlSJTSW.)3tffi5ES5Wm¥W.

7/421B

7g„□IS®BrffilWHJ]^^TEPS®)B®nSW»ffl«g2.0)tE»®AS#SASHfi/fl2JU£mw

SECURITIE