🇭🇰 港交所SSY GROUPDoubao · 实盘不做把握 6/10不做原因:标的无直接敞口
北京时间·🕒 发布 16:37:00时区推断·⟳ 抓取 16:39:44·⚡ 决策 10-08 16:41:18 +1m34s·19.3 天前
石四藥集團尼莫地平口服溶液獲國家藥監局生產註冊批件
本次為單一仿制藥（化藥3類）獲批，僅豐富產品組合，無訂單/銷售金額/指引增量；尼莫地平適應症（SAH）窄、屬專利到期老藥，獲批到投產招標放量尚需時間，對80億港元市值的石四藥不構成實質業績催化，edge不足。
📄 原文SSY GROUP↗ 原文
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the con…
不做 石四藥集團有限公司（02005.HK）
單一仿制製劑（尼莫地平口服溶液）獲批，無銷售/訂單/指引增量，適應症窄且為成熟老藥，對約80億港元市值公司業績影響微小，edge不足；盤後發佈亦無可執行窗口。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
石四藥尼莫地平口服溶液獲批屬常規仿制製劑註冊進展，實現原料藥製劑一體化但無量化業績增量；適應症窄、品種成熟，對大市值公司影響微小，不值得交易。
🔎 新鲜度:最早出现 2026-10-08 · 扩散 low · price-in 风险 low ↗
关键理由
- 單一仿制製劑獲批僅豐富心腦血管/神經重症管線，未披露任何收入或訂單增量，相對80億港元市值不具materiality。
主要风险
- 獲批後仍需投產、省級招標與醫院準入，短期難貢獻收入，且老藥仿制競爭可能壓制定價。
反向证据
- 做多前查反向 · 来源 kb_search · 影响 none
本輪未檢出針對該新品種的實質利空或反向催化；考慮到事件本身增量微小，有無反證均不改變AVOID結論
检索:石四藥集團 2026 業績 下調 砍單 集采 降價 利空
先例如何影响了这次决策
对本次决策的影响:支持對該輕量級產品進展不予交易，而非開倉
方向:無足夠高相似先例，但單一仿制藥獲批對大市值公司通常為小幅或短暫正向反應
涨幅量级:缺乏aligned先例定量校準；考慮到品種成熟、適應症窄，預計幅度不足以覆蓋交易成本
形态:無反覆見光死證據，亦無強催化證據
工具执行结果 · 成功 2 · 降级 0 · 失败 0 · 取消 0
- search_processed_events 成功 stock_tools HTTP · 15 ms
{"result": "search_processed_events:agent query=`ssy group nimodipine oral solution nmpa approval 02005 | 尼莫地平 原料藥 製劑 一致性評價 石四藥 | 石四藥集團 尼莫地平口服溶液 藥品生產註冊批件`；结构化索引覆盖完整 72 小时；旧记录兼容扫描近 0.0/72 小时、0 条本臂决策(完整)，返回 0 条候选。未命中只表示这些 agent query 表达式没有召回候选，不能据此证明消息首发或不是重复；按当前事件继续正常研判。"} - stock_quote 成功 stock_tools HTTP · 885 ms
{
原文全文
展开原文 · 2,857 字
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no
responsibility for the contents of this announcement, make no representation as to its accuracy or
completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in
reliance upon the whole or any part of the contents of this announcement.
VOLUNTARY ANNOUNCEMENT
UPDATE ON PRODUCT DEVELOPMENT
The board of directors (the “Board”) of SSY Group Limited (the “Company”, together with its
subsidiaries, the “Group”) is pleased to announce that the Group has obtained the approval for drug
production and registration for Nimodipine Oral Solution (10ml:60mg) from the National Medical
Products Administration of China (the “NMPA”), being under type 3 chemical drug and regarded as
passing the consistency evaluation.
Nimodipine Oral Solution is mainly used in adult patients with subarachnoid hemorrhage (SAH)
resulting from ruptured intracranial cystic aneurysms. It improves the patients’ neurological prognosis
by reducing the incidence and severity of ischemic nerve injury. As stated in the Company’s
announcement dated 19 March 2025, the Group’s Nimodipine bulk drug has obtained the approval for
registration from the NMPA to become a bulk drug for the preparations on the market. This approval of
Nimodipine Oral Solution preparation achieves the synergy of integration of bulk pharmaceuticals and
preparations, further enriching the Group’s product portfolio in the cardiovascular, cerebrovascular and
critical neurological fields.
This announcement is a voluntary announcement made by the Company to keep the shareholders and
potential investors informed of the latest business development of the Group.
By order of the Board
Chow Hing Yeung
Executive Director and Company Secretary
Hong Kong, 8 October 2026
As at the date of this announcement, the Board comprises Mr. Qu Jiguang, Mr. Meng Guo, Mr. Chow
Hing Yeung, Ms. Qu Wanrong and Mr. Wu Hengyao as executive Directors, Mr. Liu Wenjun as non-
executive Director, and Mr. Wang Yibing, Mr. Chow Kwok Wai and Mr. Jiang Guangce as independent
non-executive Directors.
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確
性或完整性亦不發表任何聲明，並明確表示，概不會就因本公告全部或任何部份內容而產生
或因倚賴該等內容而引致之任何損失承擔任何責任。
自願公告
產品開發的最新進展
石四藥集團有限公司（「本公司」，連同其附屬公司，「本集團」）董事局（「董事局」）欣然公告，
本集團已取得中國國家藥品監督管理局（「國家藥監局」）有關尼莫地平口服溶液(10ml:60mg)的
藥品生產註冊批件，屬於化學藥品第3類，視同通過一致性評價。
尼莫地平口服溶液主要用於顱內囊性動脈瘤破裂的蛛網膜下腔出血（SAH）的成人患者，通過
降低缺血性神經損傷的發生率和嚴重程度來改善患者神經系統預後。誠如本公司日期為二零二
五年三月十九日之公告所載，本集團的尼莫地平原料藥已獲國家藥監局批准登記成為在上市製
劑使用的原料藥。此次尼莫地平口服溶液製劑獲批，實現了原料藥製劑一體化協同，進一步豐
富本集團在心腦血管及神經重症領域的產品組合。
本公告為本公司自願發佈，目的是使股東及潛在投資者瞭解本集團最新業務發展情況。
承董事局命
執行董事兼公司秘書
周興揚
香港，二零二六年十月八日
於本公告日期，董事局成員包括執行董事曲繼廣先生、孟國先生、周興揚先生、曲婉蓉女士及
吳恒耀先生，非執行董事劉文軍先生，以及獨立非執行董事王亦兵先生、周國偉先生及姜廣策
先生。
responsibility for the contents of this announcement, make no representation as to its accuracy or
completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in
reliance upon the whole or any part of the contents of this announcement.
VOLUNTARY ANNOUNCEMENT
UPDATE ON PRODUCT DEVELOPMENT
The board of directors (the “Board”) of SSY Group Limited (the “Company”, together with its
subsidiaries, the “Group”) is pleased to announce that the Group has obtained the approval for drug
production and registration for Nimodipine Oral Solution (10ml:60mg) from the National Medical
Products Administration of China (the “NMPA”), being under type 3 chemical drug and regarded as
passing the consistency evaluation.
Nimodipine Oral Solution is mainly used in adult patients with subarachnoid hemorrhage (SAH)
resulting from ruptured intracranial cystic aneurysms. It improves the patients’ neurological prognosis
by reducing the incidence and severity of ischemic nerve injury. As stated in the Company’s
announcement dated 19 March 2025, the Group’s Nimodipine bulk drug has obtained the approval for
registration from the NMPA to become a bulk drug for the preparations on the market. This approval of
Nimodipine Oral Solution preparation achieves the synergy of integration of bulk pharmaceuticals and
preparations, further enriching the Group’s product portfolio in the cardiovascular, cerebrovascular and
critical neurological fields.
This announcement is a voluntary announcement made by the Company to keep the shareholders and
potential investors informed of the latest business development of the Group.
By order of the Board
Chow Hing Yeung
Executive Director and Company Secretary
Hong Kong, 8 October 2026
As at the date of this announcement, the Board comprises Mr. Qu Jiguang, Mr. Meng Guo, Mr. Chow
Hing Yeung, Ms. Qu Wanrong and Mr. Wu Hengyao as executive Directors, Mr. Liu Wenjun as non-
executive Director, and Mr. Wang Yibing, Mr. Chow Kwok Wai and Mr. Jiang Guangce as independent
non-executive Directors.
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確
性或完整性亦不發表任何聲明，並明確表示，概不會就因本公告全部或任何部份內容而產生
或因倚賴該等內容而引致之任何損失承擔任何責任。
自願公告
產品開發的最新進展
石四藥集團有限公司（「本公司」，連同其附屬公司，「本集團」）董事局（「董事局」）欣然公告，
本集團已取得中國國家藥品監督管理局（「國家藥監局」）有關尼莫地平口服溶液(10ml:60mg)的
藥品生產註冊批件，屬於化學藥品第3類，視同通過一致性評價。
尼莫地平口服溶液主要用於顱內囊性動脈瘤破裂的蛛網膜下腔出血（SAH）的成人患者，通過
降低缺血性神經損傷的發生率和嚴重程度來改善患者神經系統預後。誠如本公司日期為二零二
五年三月十九日之公告所載，本集團的尼莫地平原料藥已獲國家藥監局批准登記成為在上市製
劑使用的原料藥。此次尼莫地平口服溶液製劑獲批，實現了原料藥製劑一體化協同，進一步豐
富本集團在心腦血管及神經重症領域的產品組合。
本公告為本公司自願發佈，目的是使股東及潛在投資者瞭解本集團最新業務發展情況。
承董事局命
執行董事兼公司秘書
周興揚
香港，二零二六年十月八日
於本公告日期，董事局成員包括執行董事曲繼廣先生、孟國先生、周興揚先生、曲婉蓉女士及
吳恒耀先生，非執行董事劉文軍先生，以及獨立非執行董事王亦兵先生、周國偉先生及姜廣策
先生。
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