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热点栏目自选股数据中心行情中心资金流向模拟交易客户端

  4月24日,未名医药(维权)发布公告称,其控股子公司天津未名于4月22日被天津市药品监督管理局采取暂停生产、销售的风险控制措施。公告显示,天津未名主要从事人干扰素药品的生产与销售,2024年实现营业收入2.17亿元,占未名医药同期营业收入的60.09%。此次暂停生产、销售事项对未名医药的生产经营产生了重大影响,若天津未名三个月内无法恢复生产,公司可能触发其他风险警示(ST)的情形。

  天津未名是未名医药的重要子公司。天津未名被暂停生产的原因是其相关药品生产行为不符合《药品生产质量管理规范》(2010年修订)要求。这一问题的暴露,反映出公司在质量管理方面存在严重漏洞,也凸显了其在内部控制和合规管理上的不足。药品生产质量管理规范是保障药品质量和安全的基本要求,任何不符合规范的行为都可能对患者的生命健康造成威胁。这一事件不仅引发了市场的广泛关注,也为整个行业敲响了警钟。

  对于未名医药而言,子公司被暂停生产不仅影响了公司的短期经营业绩,还可能对公司的长期发展带来深远影响。2024年,未名医药实现营业收入3.60亿元,同比减少16.14%;归母净利润-1.37亿元,亏损同比扩大58.70%。此次子公司停产,或将进一步加剧公司的经营困境,影响投资者的信心和公司的市场形象。4月25日,未名医药股价盘中跌停。

  未名医药虽表示已成立专项整改小组,全面排查问题根源,制定整改方案,争取尽快恢复生产。然而,整改过程需要时间,且能否顺利通过监管部门的复查仍存在不确定性。

  药品生产质量管理规范是不可触碰的红线,任何违规行为都将受到严厉处罚。笔者认为,未名医药公司需要加强内部管理,完善质量控制体系,应始终将药品质量和患者安全放在首位,确保未来不再出现类似问题,重新赢得市场的信任。

  “大模型厂商卷生卷死,开发者无所适从。”在百度开发者大会上,百度董事长李彦宏这样描述大模型和应用开发的生存状态。

  他援引数据称,开源中国一年新增150万开发者,但同时开发者也充满焦虑。去年第四季度国内有49个大模型更新发布,到今年一季度这一数字增长至55个,最多的时候一周有8个模型。大模型迭代速度快,模型能力越来越强,有开发者担心所做的应用被大模型迭代快速覆盖掉,因此白费功夫,不敢放心大胆地做应用。

  “这其实是双刃剑。”李彦宏说,一方面开发者确实需要理解技术发展的趋势,避开大模型自身发展的延长线;另一方面,日益强大的模型能力为开发者打开更多可能性,“只要找对场景,选对基础模型,有时候还要学一点调模型的方法,在此基础上做出来的应用是不会过时的。”

  他强调,“没有应用,芯片、模型都没有价值。模型会有很多,但未来真正统治这个世界的是应用,应用才是王者。”

  今年以来,当DeepSeek掀了大模型的牌桌,进攻是百度AI继续留在牌桌的唯一机会。

  李彦宏透露,百度已有多个应用接入满血版DeepSeek,产生了不错的效果,为此百度专门举办一场讨论DeepSeek的分论坛。但DeepSeek不是万能的,比如它只能处理文本,还不能理解声音、图片、视频等多媒体内容,百度很多客户需要多模态能力,此外DeepSeek在一些场景幻觉比较高,“如果数字人直播幻觉出来一个买一赠一的优惠,商家要赔惨了。”此外还有速度慢、价格贵等问题。

  当天,百度发布文心大模型4.5Turbo和深度思考模型X1Turbo,相比文心4.5和X1Turbo。二者速度更快,价格分别下降80%和50%。此外,李彦宏发布高说服力数字人、通用超级智能体心响APP、内容操作系统沧舟OS等多款AI应用,覆盖AI数字人、代码智能体、多智能体协作等赛道,并宣布百度全自研的3万卡集群点亮,可同时承载多个千亿参数大模型的全量训练,支持1000个客户同时做百亿参数的大模型精调。

  围绕应用,去年时李彦宏表示,智能体是他最看好的AI原生应用发展方向,当时还是“非共识”,到了今年智能体已成为AI应用的代名词。其中,代码智能体CodingAgent,是最近半年AI应用进展最快、最火的赛道。全球陆续涌现了cursor、devin、lovable等一系列代码智能体。在百度内部,工程师普遍使用的是文心快码等辅助工具写代码,但百度也有好几万非技术人员,他们则会使用无代码编程工具“秒哒”。

  百度今日对“秒哒”进行升级,李彦宏举例,基于秒哒无代码开发工具,一个陕西的果农,做了一个能卖苹果、自动算账的应用;一位退休师傅,创建了一个可以进行车位、访客、维修登记和社区活动公告的居民服务应用等等。

  李彦宏说,全球有近3000万程序员,有80亿人,当技术的门槛逐渐消失,每个人都可以具备程序员的能力。“如果你还像原来那样天天一行一行地写代码,是没有赢的可能性的。”

  (本文来自第一财经)

  4月25日金融一线消息,中国人民银行运城市分行日前披露的行政处罚决定信息公示表显示,临猗县新田村镇银行股份有限公司因未按照规定报送大额交易报告或者可疑交易报告,被罚款35.9万元。

  杨某锁(时任临猗县新田村镇银行股份有限公司董事)、巨某乐(时任临猗县新田村镇银行股份有限公司副行长)、吕某(时任临猗县新田村镇银行股份有限公司运营主管),三人对该行未按照规定报送大额交易报告或者可疑交易报告负有责任,分别被罚款2.8万元。

  一、涉信息披露违法违规

  4月24日晚,惠伦晶体(维权)及实控人赵积清于近日收到中国证券监督管理委员会下发的立案告知书。因涉嫌信息披露违法违规,根据《中华人民共和国证券法》《中华人民共和国行政处罚法》等法律法规,证监会决定对公司及赵积清立案。而公司实控人赵积清上个月刚刚辞去了公司董事长一职。

  此次被立案的具体缘由,公司并未在公告中披露。受立案影响,公司股价下跌,不少投资者遭受损失。信息披露是上市公司与投资者沟通的重要桥梁,也是投资者做出投资决策的重要依据。尤其是新证券法实施以来,对信息披露的要求更加细致严格,同时,对违法责任的追究也明显加重。上海沪紫律师事务所刘鹏律师提示现暂定于2025年4月24日(含当日)之前买入,并在2025年4月25日之后卖出或仍持有而亏损的投资者即符合索赔条件。

  二、业绩连续多年亏损

  值得注意的是惠伦晶体业绩表现并不尽如人意,该公司主要从事石英晶体元器件的研发、生产和销售,2022、2023年已连续两年亏损。根据业绩预告,公司预计2024年仍将处于亏损状态,净利润为-1.5亿元至-2.5亿元,扣非后净利润为-1.55亿元至-2.55亿元。也就是说公司已连续三年亏损。

  被证监会立案事由,指向的是信息披露违法违规问题。信息披露行政处罚的事由主要集中在财务造假、对外担保、关联交易、资金占用、重大涉诉情形、重大债权债务、未按期披露定期报告等方面,涉及上市公司各个环节、各个阶段。处罚类型包括立案调查、公开处罚、责令改正、监管关注、公开谴责、出具警示函等。至于该公司主要涉及上述哪一类,还需等待监管的调查报告。现索赔征集已开启,受损投资者可积极报名,提起诉讼挽回损失。

  (本文由上海沪紫律师事务所刘鹏律师供稿,不代表新浪财经的观点。刘鹏律师,专注证券维权19年,自2006年执业以来,成功为中青宝、国华网安(维权)、劲嘉股份(维权)等300余家上市公司的中小投资者成功维权,案件在办数量超过14000起,胜诉率达99.2%。作为业内资深证券维权律师,刘鹏律师精准把握案件核心,诉讼经验丰富,索赔策略高效,为投资者争取最大权益,维权实力行业领先。证券维权,选对律师是关键!专业决定胜算,经验确保结果,首选刘鹏律师,让您的索赔更稳妥、更高效!)

  营收增长与利润下滑的背离:成本压力与市场挑战双重挤压

  2024年,华恒生物实现营业总收入21.78亿元,同比增长12.37%,延续了近年来的增长趋势。然而,这一增长背后却暗藏隐忧:归母净利润1.90亿元,同比大幅下降57.80%;扣非净利润1.77亿元,同比下降59.54%。这一“增收不增利”的矛盾现象,折射出公司经营环境的结构性变化。

  收入增长依赖低毛利业务、 成本端压力爆发

  公司核心业务氨基酸产品收入15.09亿元,同比仅增长3.01%,增速显著放缓;毛利率则从上年同期的43.32%降至30.00%,降幅达13.32个百分点。维生素产品收入更是同比下降5.04%,毛利率暴跌34.33个百分点至20.77%。相比之下,其他产品(如生物基丁二酸、1,3-丙二醇等)收入虽同比增长318.70%,但因其规模尚小(仅0.89亿元),且毛利率下降13.93个百分点至28.58%,难以扭转整体颓势。

  2024年公司营业成本同比激增41.82%,远超收入增速。这一方面源于氨基酸、维生素等传统产品市场价格竞争加剧,缬氨酸等主力产品价格同比下降超30%;另一方面,原材料、能源及人工成本上涨进一步侵蚀利润空间。更严峻的是,期间费用同比增加8411.92万元,其中财务费用因融资规模扩大暴增629.63%,管理费用增长29.76%,销售费用增长26.16%,多重压力下净利率从23.04%骤降至8.47%。

  转型阵痛与破局尝试:技术投入与市场拓展的双重博弈

  面对传统业务增长乏力,华恒生物正加速向合成生物学领域转型,但这一过程伴随显著阵痛。

  技术研发的“长周期困境”。2024年公司研发投入1.24亿元,同比增长13.99%,新增发明专利10项,在缬氨酸菌株优化、1,3-丙二醇发酵工艺等领域取得突破。然而,这些投入尚未转化为经济效益:生物基丁二酸项目累计投入4亿元,年产5万吨生产基地虽已建成,但市场需求培育滞后;1,3-丙二醇产品虽与东华大学共建联合实验室推进应用,但短期内难以贡献规模收入。技术转化的长周期性与资本市场对业绩的即时要求形成尖锐矛盾。

  市场拓展的“两难抉择”。在传统市场,境外收入同比增长30.34%至10.32亿元,但毛利率下降13.73个百分点至31.92%,价格战导致利润空间收窄;境内市场收入同比下降15.28%,需求疲软与成本上升形成双重打击。在新兴领域,公司试图通过成立“生物基聚酯纺织产业联盟”、与巴斯夫合作开发生物刺激素等举措开辟增长点,但这些布局尚处早期,2024年相关业务收入占比不足5%。

  产能扩张与效率失衡。年报显示,柳州厂区家用牙膏产能利用率较低,折射出传统业务产能过剩;而新投建的生物基产品生产基地又面临产能爬坡压力。这种“新旧产能交替失衡”导致总资产周转率下降,存货周转天数增加,资产运营效率显著下滑。

  结语:在转型十字路口的战略重构

  华恒生物的2024年年报,既展现了合成生物学龙头的技术底蕴,也暴露出转型期的典型困境。当前,公司正站在传统业务护城河崩塌与新兴赛道尚未成型的交叉点:一方面需通过工艺优化稳住基本盘,另一方面要加速新产品商业化(如推动PDO在纺织领域的规模化应用)。但这条路注定充满挑战,既需要管理层在战略定力与灵活性间精准平衡,更考验其应对行业周期波动的抗风险能力。

  注:本文结合AI工具生成

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