于本公告日期，轩竹生物尚未就该等H股于联交所主板上市及买卖向联交所提出申请，且有关执行计划 详情尚未落实。 格隆汇11月18日丨四环医药(00460.HK)公告，内容有关经轩竹生物董事会考虑及批准实施H股全流通的 建议，轩竹生物已于2025年11月17日向中国证券监督管理委员会提交备案申请，以按一对一基准将六名 股东合共357,245,794股轩竹生物未上市股份转换为H股(占轩竹生物于2025年11月14日已发行股份总数 约68.9733%)。 ...

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 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。 Sihuan Pharmaceutical Holdings Group Ltd. 四環醫藥控股集團有限公司 （於百慕達註冊成立的有限公司） （股份代號：0460） 自願公告 軒竹生物建議實施H股全流通 此 乃 四 環 醫 藥 控 股 集 團 有 限 公 司（「本公司」）作 出 的 自 願 公 告。 茲 提 述 本 公 司 之 附 屬 公 司 軒 竹 生 物 科 技 股 份 有 限 公 司（「軒竹生物」，於 二 零 二 五 年 十 月 十 五 日 在 香 港 聯 合 交 易 所 有 限 公 司（「聯交所」）主 板 上 市，股 份 代 號：2575） 日 期 為 二 零 二 五 年 十 一 月 十 四 日 及 二 零 二 五 年 十 一 月 十 七 日 的 公 告（「該等公 告」），內 容 有 關 經 軒 竹 生 物 董 事 會 考 慮 及 批 准 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 四環醫藥控股集團有限公司 呈交日期: 2025年11月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00460 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | HKD | | 0.01 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 100,000,000,000 | HKD | | 0.01 | HKD | | 1,000,00 ...

Core Viewpoint - The article discusses the collaboration between Hong Kong-listed company Four Seasons Pharmaceutical (00460.HK) and U.S. biotechnology firm Abalone Bio to develop a new generation of obesity treatment drugs, highlighting the intensifying competition in the global weight loss drug market [4][5]. Group 1: Collaboration Details - Four Seasons Pharmaceutical will gain access to Abalone Bio's proprietary "cell receptor bias technology platform," which aims to enhance weight loss efficacy while reducing gastrointestinal side effects [5]. - The partnership plans to complete candidate drug screening by 2026 and will share global commercialization rights [5]. - Abalone Bio was founded by scholars from Stanford University, and its core technology has attracted interest from major pharmaceutical companies like Novartis and Eli Lilly [5]. Group 2: Industry Context - The collaboration signifies a strategic move by Chinese pharmaceutical companies in the ongoing GLP-1 weight loss drug development trend, indicating a competitive landscape in the global weight loss drug market [4][5]. - The article emphasizes the importance of this partnership in addressing Four Seasons Pharmaceutical's shortcomings in target optimization, providing technical support for future regulatory submissions in both the U.S. and China [5].

Core Viewpoint - Four Seasons Pharmaceutical (00460) has signed a collaboration agreement with the US biotechnology company AbaloneBio to jointly advance the development of innovative obesity treatment drugs targeting metabolic-related G protein-coupled receptors (GPCRs) [1] Group 1: Collaboration Details - The collaboration aims to enhance energy expenditure safely and effectively while maintaining or increasing muscle mass, addressing the limitations of current weight loss therapies [1] - This partnership extends from a previous strategic investment made by Four Seasons in Abalone earlier this year, marking a shift from capital investment to business execution [1] Group 2: Strategic Implications - The agreement is expected to strengthen Four Seasons' innovative positioning in the weight loss sector and leverage Abalone's technological advantages to accelerate the development of next-generation weight loss and muscle gain therapies [1] - This collaboration is also a significant step for the company in deepening its focus on GPCR target areas, contributing to the optimization and upgrading of treatment solutions in the obesity treatment field [1]

Core Viewpoint - Four Seasons Pharmaceutical (00460) has signed a collaboration agreement with the U.S. biotechnology company AbaloneBio to jointly advance the development of innovative obesity treatment drugs, targeting metabolic-related G protein-coupled receptors (GPCRs) to enhance energy expenditure safely and effectively while maintaining or increasing muscle mass [1][1][1] Company Summary - Four Seasons Pharmaceutical's stock rose over 4%, currently trading at 1.51 HKD with a transaction volume of 46.35 million HKD [1][1][1] - The collaboration marks an extension of the partnership from a capital investment made earlier this year to a business execution level, reinforcing the company's innovative positioning in the weight loss sector [1][1][1] - The partnership aims to address the limitations of current weight loss therapies and meet the unmet clinical needs in the global obesity treatment market [1][1][1] Industry Summary - The collaboration is a significant step in optimizing and upgrading treatment solutions in the obesity treatment field, leveraging Abalone's technological advantages to accelerate the development of next-generation weight loss and muscle gain therapies [1][1][1] - This initiative is also an important move for the company to deepen its layout in the GPCR target area, which is crucial for future growth in the obesity treatment market [1][1][1]

Core Viewpoint - The collaboration between Four Seasons Pharmaceutical and Abalone Bio aims to develop innovative obesity treatment drugs by targeting metabolic GPCRs, addressing current limitations in weight loss therapies and meeting unmet clinical needs globally [1][2] Group 1: Collaboration Details - Four Seasons Pharmaceutical has signed a formal cooperation agreement with Abalone Bio to jointly advance the research and development of next-generation obesity treatment drugs [1] - The project focuses on enhancing energy expenditure safely and effectively while maintaining or increasing muscle mass, which is a significant challenge in current weight loss therapies [1] Group 2: Technical and Strategic Aspects - Abalone Bio will provide its core technology and platform support in GPCR antibody discovery, while Four Seasons will contribute its research and development resources in metabolic diseases and its established business framework in Greater China [2] - The collaboration is built on a prior strategic investment made by Four Seasons in Abalone earlier this year, marking a transition from capital investment to business execution [2] Group 3: Market Positioning and Future Prospects - This partnership strengthens Four Seasons' innovative positioning in the weight loss sector and accelerates the development of new weight loss and muscle gain therapies [2] - The collaboration is also a strategic move to deepen Four Seasons' involvement in the GPCR target area, following its investment in DJS Antibodies, which focuses on GPCR-targeted antibodies [2]

Core Insights - The collaboration between Four Seasons Medicine (00460.HK) and Abalone Bio focuses on developing innovative treatments for obesity by targeting metabolic GPCRs to enhance energy expenditure while maintaining or increasing muscle mass [1][2] Group 1: Collaboration Details - The agreement allows both companies to leverage their strengths: Abalone will provide its core technology in GPCR antibody discovery, while Four Seasons Medicine will contribute its research in metabolic diseases and established business framework in Greater China [2] - This partnership marks a transition from a capital investment to a business execution level, reinforcing Four Seasons Medicine's innovative positioning in the weight loss sector [2] Group 2: Technical and Market Context - GPCRs are a complex family of membrane proteins, and developing agonistic antibodies for them has been a recognized challenge in the pharmaceutical industry [1] - Abalone's unique functional antibody screening technology and AI capabilities position it well to tackle the regulatory challenges associated with GPCRs, enhancing the potential for successful drug development [1]

Core Insights - The collaboration between Four环医药 and AbaloneBio aims to develop innovative obesity treatment drugs by targeting metabolic-related GPCRs to enhance energy expenditure while maintaining or increasing muscle mass [1][2] - The partnership is based on complementary strengths, with Abalone providing its core technology in GPCR antibody discovery and Four环医药 contributing its research and industrial resources in metabolic diseases [2] Group 1 - Four环医药 has signed a formal collaboration agreement with AbaloneBio to advance the research and development of next-generation obesity treatments [1] - The project focuses on overcoming the limitations of current weight loss therapies to meet unmet clinical needs in the global obesity treatment market [1] - GPCRs are a challenging target for drug development due to their complex structural requirements, and Abalone's unique functional antibody screening technology aims to address these challenges [1] Group 2 - The collaboration follows Four环医药's strategic investment in Abalone earlier this year, marking a transition from capital investment to business execution [2] - This partnership is expected to enhance Four环医药's innovative positioning in the weight loss sector and accelerate the development of new weight loss and muscle gain therapies [2] - The collaboration also represents a significant step in Four环医药's ongoing strategy to deepen its involvement in the GPCR target area, building on previous investments in related companies [2]

Core Viewpoint - The collaboration between Four环医药 and AbaloneBio aims to develop innovative obesity treatment drugs by targeting metabolic-related GPCRs, addressing current limitations in weight loss therapies and meeting unmet clinical needs globally [1][2] Group 1: Collaboration Details - Four环医药 has signed a cooperation agreement with AbaloneBio to jointly advance the research and development of next-generation obesity treatments [1] - The project focuses on enhancing energy expenditure safely and effectively while maintaining or increasing muscle mass [1] - AbaloneBio will provide its core technology and platform support in GPCR antibody discovery, while Four环医药 will contribute its research and industrial resources in metabolic diseases [2] Group 2: Strategic Importance - The partnership extends from a previous strategic investment in Abalone, marking a shift from capital involvement to operational execution [2] - This collaboration strengthens Four环医药's innovative positioning in the weight loss sector and accelerates the development of new weight loss and muscle gain therapies [2] - The partnership is also a significant step in deepening Four环医药's focus on GPCR targets, building on prior investments in companies like DJS Antibodies, which has been recognized for its GPCR-targeted antibody development [2]