Core Viewpoint - The innovative drug market is experiencing a surge in interest and investment, with significant inflows of capital and strong performance in related stocks [1][5]. Group 1: Market Performance - On July 15, the pharmaceutical ETF (562050) experienced a sharp increase during the opening auction, indicating heightened investor enthusiasm for innovative drugs [2][3]. - The ETF closed up 0.59% at 1.017 yuan per share, with a total trading volume of approximately 26.34 million yuan and a turnover rate of 22.94% [4]. - A-shares in innovative drugs have shown notable gains, with companies like ShenZhou Cell rising nearly 50% in the past month, and others like BoRui Medicine and Jilin AoDong increasing over 10% [5]. Group 2: Fund Performance and Strategy - The latest public fund reports reveal a significant shift towards innovative drugs, with the Changcheng Pharmaceutical Industry Selected Fund achieving over 90% returns, increasing its scale nearly 30 times in the second quarter [6][9]. - The fund manager of Yongying Medical Health Fund indicated a complete portfolio overhaul towards innovative drugs, with top holdings including ShuTaiShen and Rejing Biology, the latter seeing a staggering 443.59% increase this year [6][7]. - The Changcheng fund plans to continue focusing on innovative drugs in the third quarter, emphasizing clinical data, overseas licensing, and domestic sales growth [8]. Group 3: Policy and Market Trends - The innovative drug sector is benefiting from favorable policy developments, with the National Medical Insurance Bureau initiating adjustments to the drug catalog for 2025 [10]. - Data shows that the total amount for Chinese innovative drug licenses reached nearly 66 billion USD in the first half of 2025, surpassing the total for 2024, indicating a rapid rise in global competitiveness [11]. - The current market rally is primarily driven by clinical results and expectations for overseas licensing, with a focus on companies that have the potential for international expansion and those that have successfully transformed [11].

中国医药企业康哲药业控股有限公司（简称康哲药业）15日在新加坡交易所主板完成第二上市，股票代 码"8A8"，开盘报2.05新元/股，盘中涨幅一度达13.17%，收盘报2.28新元/股，收涨11.22%。 康哲药业成立于1992年，2010年在香港上市，已建立医药产品全生命周期管理体系，覆盖从靶点识别到 临床开发，再到产品注册及商业化推广的每一个环节。本次上市使康哲成为新交所医疗保健板块第40家 企业。 "随着国家推进'一带一路'倡议，我们看到东南亚、中东市场有巨大的潜力。"康哲药业主席兼行政总 裁、总裁林刚接受新华财经记者采访时表示。"过去三年，我们已在新加坡为核心的东南亚地区及中东 累计投资超过1亿美元，建立销售网络、研发机构和生产基地，并对本地企业进行投资，形成'研发、生 产、销售、投资'四位一体布局。此次选择在新交所上市，是企业国际化的重要节点，有助于增强区域 市场和客户的认知。" 新加坡交易所集团大中华区资本市场主管谢采含接受新华财经记者采访时表示，康哲药业的成功上市， 反映了更多中国企业对新加坡市场的兴趣。"近年来，新交所通过政策优化吸引区域企业，包括税收优 惠、二级市场资金支持及监管流程优化。"她 ...

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的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並表明概不就因本公告全部或任何部分內容而產生 或因倚賴該等內容而引致的任何損失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購本公司任何證券的邀請或要約。 茲提述China Medical System Holdings Limited（「本公司」）日期分別為二零二五年六 月二十四日、六月二十七日及七月十四日之有關於新加坡證券交易所有限公司（「新交 所」）主板作建議第二上市之公告，以及本公司日期為二零二五年六月二十七日之海外 監管公告，隨附本公司發佈的關於建議第二上市的介紹文件（「介紹文件」）。 董事會欣然宣佈，本公司普通股（「股份」）今日以介紹方式成功於新交所上市。股份 將以股份代號"8A8"於新交所主板以每手100股股份的買賣單位進行買賣。股份仍於香港 聯合交易所有限公司主板作主要上市及買賣。 本公司新加坡股份過戶代理之詳情如下： 彥德企業服務有限公司 36 Robinson Road #20-01 City House Singapore 068877 CHINA MEDICAL SYS ...

Group 1 - China's Q2 GDP growth reached 5.2%, exceeding expectations, leading to a rally in Hong Kong stocks [1] - The Hang Seng Technology Index surged by 2.8%, while the Hang Seng Index and the National Enterprises Index rose by 1.6% and 1.65% respectively [1][2] - Major technology stocks performed strongly, with Alibaba rising nearly 7%, Meituan and Baidu up over 4%, and Tencent increasing by 3.5% [2][4] Group 2 - The cryptocurrency sector faced challenges, with Bitcoin dropping below $117,000, leading to a decline in related stocks [2] - Real estate development investment in China fell by 11.2% year-on-year in the first half of the year, impacting domestic property stocks significantly [2][13] - The construction materials and cement stocks also saw declines, with major players like Jinyu Group and Anhui Conch Cement dropping over 6% and 4% respectively [11][12] Group 3 - The innovative drug sector showed strength, with companies like BeiGene and CSPC Pharmaceutical rising over 7% [7][8] - Stablecoin-related stocks performed well, with Yunfeng Financial increasing by 19.5% and Weishi Jiajie up by 11% [9][10] - The entertainment sector saw gains, with China Star Group rising over 10% and Tencent Music increasing by over 5% [15] Group 4 - Southbound funds recorded a net inflow of HKD 3.824 billion, indicating strong interest in Hong Kong stocks [18] - Analysts noted a shift in investor sentiment towards undervalued stocks, with some funds looking to capitalize on recent price corrections in major internet companies [17]

Group 1 - The core viewpoint of the article is that Kangzheng Pharmaceutical (00867.HK) has announced a secondary listing on the Singapore Exchange, which aims to enhance its business presence in Southeast Asia and tap into the mature investor market in Singapore [1] - The company emphasizes that Southeast Asia, with a population of nearly 700 million, is experiencing rising pharmaceutical demand due to economic growth, an expanding middle class, aging populations, and an increase in non-communicable diseases [1] - Kangzheng Pharmaceutical has established Singapore as its regional headquarters for Southeast Asia and the Middle East [1] Group 2 - Kangzheng Pharmaceutical was listed in Hong Kong on September 28, 2010, and focuses on specialized fields such as cardiovascular, central nervous system, digestive, and ophthalmology [1] - The company currently has five innovative drugs in the commercialization stage, including "Meitai Tong" for psoriasis and "Laifulan" for methylene blue enteric-coated sustained-release tablets, along with three drugs entering national procurement [1] - As of the latest trading session, Kangzheng Pharmaceutical's stock price was HK$12.94, with a total market capitalization of HK$31.567 billion [2]

Core Insights - The article highlights the successful secondary listing of Kangji Pharmaceutical on the Singapore Exchange (SGX), emphasizing its strategic move to attract capital from the Asia-Pacific region and optimize its shareholder structure [1][2][3]. Company Overview - Kangji Pharmaceutical, established in 1995 and listed on the Hong Kong Stock Exchange in 2010, focuses on three main business segments: cardiovascular and digestive health, skin health, and ophthalmology [2]. - The company aims to expand its market presence in Southeast Asia and the Middle East, responding to the evolving global pharmaceutical landscape [2][3]. Strategic Goals - The secondary listing in Singapore is a crucial step in Kangji Pharmaceutical's internationalization strategy, leveraging its established resources and R&D capabilities in China to penetrate emerging markets [3]. - The Southeast Asian pharmaceutical market is experiencing accelerated demand due to an aging population and improving healthcare systems, presenting significant growth opportunities for the company [3]. Financial Position - Kangji Pharmaceutical has a robust financial status, with a bank balance and cash amounting to RMB 3.707 billion as of December 31, 2024, sufficient to support daily operations and international expansion [4]. - Although there is no immediate need for financing, the secondary listing provides flexibility for future capital raising based on strategic needs [4]. SGX's Attractiveness - The SGX has become increasingly appealing to Chinese companies, with 100 companies from Greater China listed, representing nearly 20% of the total listings [1][6]. - The exchange offers clear rules, efficient listing processes, and access to a diverse range of international investors, enhancing the visibility and funding opportunities for listed companies [6][7]. Market Environment - The SGX supports various listing structures, including dual-class shares, allowing companies to maintain control while accessing capital [7]. - Recent market optimization policies from the Monetary Authority of Singapore aim to enhance the trading environment for listed companies, fostering greater investor engagement [7].

Group 1: Company Actions and Financials - Lianlian Digital plans to issue 38.4 million new H-shares at a price of HKD 10.25 per share, representing a 10.09% discount from the last closing price, aiming to raise approximately HKD 393.6 million for global payment innovations and business expansion [1] - Kangji Pharmaceutical announced its intention to list on the Singapore Exchange, which is expected to enhance its international visibility and broaden financing channels [3] - China Shipbuilding Defense anticipates a net profit of HKD 460 million to HKD 540 million for the first half of 2025, reflecting a year-on-year increase of 213.25% to 267.73%, driven by improved production efficiency and revenue from ship products [4] Group 2: Industry Trends - The healthcare sector in Hong Kong has seen a significant increase in IPOs, with 11 companies raising a total of approximately HKD 18.119 billion, indicating strong market interest in the healthcare industry [2] - The overall performance of the Hong Kong stock market shows positive trends, with the Hang Seng Index rising by 0.26% [5]

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的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並表明概不就因本公告全部或任何部分內容而產生 或因倚賴該等內容而引致的任何損失承擔任何責任。 自願性及業務進展公告 創新藥高選擇性TYK2抑制劑CMS-D001 獲得特應性皮炎適應症藥物臨床試驗批准通知書 China Medical System Holdings Limited（「本公司」，連同附屬公司統稱為「本集團」） 欣然宣佈，旗下德鎂醫藥有限公司（「德鎂醫藥」，專業聚焦皮膚健康的創新型醫藥企 業，正申請於香港聯合交易所有限公司主板獨立上市，詳見本公司日期為二零二五年四 月 二 十 二 日 發 佈 的 公 告 ） 連 同 其 附 屬 公 司 自 主 研 發 的 創 新 藥 CMS-D001 片 （「CMS-D001」）於二零二五年七月十一日獲得中國國家藥品監督管理局（「NMPA」） 簽發的藥物臨床試驗批准通知書。NMPA同意開展臨床試驗以評價CMS-D001治療特應 性皮炎（AD）的安全性和有效性。 CMS-D001 存在便利性、有效性不足或安全性不佳等問題，臨床亟需新的治療選擇。 臨床前研究數 ...

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的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並表明概不就因本公告全部或任何部分內容而產生 或因倚賴該等內容而引致的任何損失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購本公司任何證券的邀請或要約。 CHINA MEDICAL SYSTEM HOLDINGS LIMITED 康哲藥業控股有限公司* （於開曼群島註冊成立的有限公司） 本公告載有若干換算，匯率為1.00新元兌6.13港元。該等換算僅供參考，概不表示亦不 應視為任何新元或港元金額可以或應當按上述匯率或任何其他匯率換算，甚至可能完全 無法換算。 承董事會命 China Medical System Holdings Limited 主席 林剛 香港，二零二五年七月十四日 *僅供識別 (股份代號：867) 建議於新加坡交易所作第二上市之預計上市日期 茲提述China Medical System Holdings Limited（「本公司」）日期分別為二零二五年六 月二十四日及二十七日之有關本公司普通股（「股份」）於新加坡證券交易所有限公司 （「新交所」）主板作建議第二上市（「建 ...

Group 1 - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for overseas listing applications for 22 companies, including SANY Heavy Industry and TUS Holdings [1][2][3] - SANY Heavy Industry is required to clarify the reasons for inconsistencies in the identification of its controlling shareholder and provide a conclusive opinion on the matter [1][3] - TUS Holdings must explain the real estate development activities of its subsidiaries and their future business plans, as well as the involvement of foreign capital in its operations [2][3] Group 2 - The supplementary requirements for Dipo Technology include an explanation of a share transfer at zero cost that led to a change in control, and whether there are any shareholding arrangements that need regulatory scrutiny [3][4] - Anxuyuan is required to clarify the compliance of its offshore structure and reverse mergers, including foreign exchange management and tax compliance [3][4] - The requirements for Zhihui Mining focus on the scope of its exploration activities and whether its projects fall under high energy consumption or high emissions categories [2][3] Group 3 - The CSRC has mandated that companies provide legal opinions on their compliance with regulations regarding offshore structures and foreign investments [5][6] - Companies must also clarify their business models, including any involvement in restricted foreign investment sectors, and provide details on their user data management practices [5][6][7] - Specific companies like World Road and Copper Master are required to explain their shareholder structures and any potential conflicts of interest [6][10] Group 4 - The supplementary materials for companies like Huaxi Da and Zhongwei New Materials require detailed explanations of their business operations and compliance with foreign investment regulations [24][25] - Companies must also address any discrepancies in their previous filings and how these may affect their current overseas listing applications [9][10] - The focus is on ensuring that all business activities align with the latest foreign investment policies and regulations [5][6][7]