> 数据图表谁能回答1.22026-9-21.2财务：横向比较看行业韧性➢ ①成长能力：2026Q2申万医药生物板块整体营业收入同比增速为2.19%，归母净利润增速为12.34%，各子板块表现分化。原料药板块2026Q2同比收入增速10.76%，归母净利润增速达到54.21%，韧性凸显。➢ ②盈利能力： 2026Q2申万医药生物板块整体毛利率同比提升0.68pct，净利率同比提升0.82pct。而申万原料药板块毛利率同比提升5.97pct，净利率同比提升5.18pct，盈利能力表现优于医药整体。表：申万医药生物子板块2025Q1-2026Q2单季度财务数据比较2025Q12025Q22025Q32025Q42026Q12026Q2收入YOY归母净利润YOY收入YOY归母净利润YOY收入YOY归母净利润YOY收入YOY归母净利润YOY收入YOY归母净利润YOY收入YOY归母净利润YOYSW医药生物SW原料药SW化学制剂SW中药ⅡSW生物制品SW血液制品SW疫苗SW其他生物制品SW医药流通SW线下药店SW医疗设备SW医疗耗材SW体外诊断SW诊断服务SW医疗研发外包SW医院SW其他医疗服务-4.33-3.96-5.47-8.43-24.640.22-53.767.72-1.10-0.24-4.491.63-13.81-20.1411.654.246.07-9.0210.81-26.46-4.97-36.94-23.73-83.8611.32-2.98-4.60-13.071.90-19.76-542.1472.7018.7028.98-1.17-7.820.44-2.55-10.34-3.04-34.9613.350.640.45-5.261.34-16.53-19.2614.15-2.881.561.69-10.9215.276.23-24.79-14.94-87.4884.0620.929.07-27.93-6.28-37.58-92.0053.91-12.20-3.111.16-8.013.76-1.71-5.654.11-19.344.371.902.0910.650.11-13.07-9.9710.93-1.202.483.72-25.7236.40-5.62-23.56-30.89-73.4915.88-8.9337.760.63-1.42-21.23103.1747.90-18.47-24.154.30-2.896.592.146.66-6.63-21.2934.373.244.9310.894.78-2.78-9.3613.010.7951.6072.0929.45194.9017.71-3,648.26-80.63-1,073.362,699.649.12564.65-0.07-48.6532.1056.50181.18108.9552.592.16-2.304.14-0.82-5.46-19.90-7.791.101.92-0.136.016.84-6.51-3.3218.731.8128.847.23-25.3545.52-2.02-9.65-53.1743.195.85-5.0810.65-9.13-12.13-27.82198.9624.4419.2628.102.1910.76-1.61-9.209.31-17.31-12.6632.401.074.1111.9013.036.34-2.0927.730.6029.4112.3454.216.13-20.52144.12-47.38191.19255.23-28.0211.70-6.5720.70180.132,526.8612.31-48.83-34.475资料来源：Wind，浙商证券研究所，注：整体法浙商证券综合其他
