Core Viewpoint - 康哲药业 announced the resignation of Mr. Chen Hongbing as a non-executive director effective from August 18, 2025, to dedicate more time to personal matters and family [1] Group 1 - Mr. Chen Hongbing will also resign from his position as a senior advisor of the company on the same date [1]

Core Viewpoint - 康哲药业 has reported a significant recovery in its operating performance for the first half of 2025, driven by the end of negative impacts from national procurement policies and sustained growth in exclusive/brand and innovative product sales, which now account for 62.1% of total revenue [1][2]. Financial Performance - The company's revenue increased by 10.8% year-on-year to RMB 4.002 billion, with a drug sales revenue growth of 8.9% to RMB 4.67 billion [1]. - Gross profit rose by 7.2% to RMB 2.892 billion, with drug sales gross profit also increasing by 7.2% to RMB 2.882 billion [1]. - Net profit attributable to shareholders grew by 3.1% to RMB 931.5 million, with earnings per share at RMB 0.3892 and an interim dividend of RMB 0.1555 per share declared [1]. Product and Market Development - The company has a pipeline of approximately 40 differentiated innovative products, with 5 innovative drugs already approved in China and commercialized [3]. - The sales of exclusive/brand and innovative products have shown a significant increase, contributing to the overall revenue growth [2]. - The company is focusing on specialized areas, with its skin health brand "德镁医药" becoming a leading innovative pharmaceutical company in China [2]. Strategic Initiatives - 康哲药业 is pursuing an internationalization strategy, having completed a secondary listing on the Singapore Exchange in July 2025, which is expected to enhance its brand influence in Southeast Asia and international markets [2]. - The company is actively exploring new retail, new media, and consumer healthcare avenues, with early successes noted in these areas [2].

智通财经APP讯，康哲药业(00867)公布，陈洪兵先生已提交辞呈，自2025年8月18日起辞任非执行董事 职务，以便投入更多时间处理其个人事务及陪伴家人。陈洪兵先生亦自同日起辞任公司资深顾问职务。 ...

董事名單與其角色和職能 梁創順先生 羅瑩女士 馮征先生 ﹡僅供識別 China Medical System Holdings Limited（「本公司」）董事會（「董事會」）的 成員名單乃載列如下： 執行董事： 林剛先生 (主席兼行政總裁） 陳燕玲女士 (首席財務官、副總裁) 獨立非執行董事： | 委員會 董事 | 審核委員會 | 薪酬委員會 | 提名委員會 | 環境、社會及 管治委員會 | | --- | --- | --- | --- | --- | | 林剛先生 | | | M | | | 陳燕玲女士 | | | | C | | 梁創順先生 | M | C | M | M | | 羅瑩女士 | M | M | C | | | 馮征先生 | C | M | M | M | 附註： C代表有關委員會的主席 M代表有關委員會的成員 香港，二零二五年八月十八日 1 董事會設立四個委員會。下表提供各董事會成員在這些委員會中所擔任的職位。 ...

Core Viewpoint - 康哲药业 reported a 10.8% year-on-year increase in revenue to RMB 4.002 billion for the six months ending June 30, 2025, with a net profit growth of 3.1% to RMB 930 million, and basic earnings per share rising by 4.2% to RMB 0.3892 [1] Financial Performance - Revenue increased by 10.8% to RMB 4.002 billion [1] - Net profit grew by 3.1% to RMB 930 million [1] - Basic earnings per share rose by 4.2% to RMB 0.3892, compared to RMB 0.3734 in the 2024 interim period [1] - Interim dividend declared at RMB 0.1555 per share, up 3.2% [1] Product Development - The product portfolio has been enriched with the addition of innovative products ZUNVEYL and MG-K10 [1] - ZUNVEYL's New Drug Application (NDA) was accepted by the National Medical Products Administration (NMPA) in July 2025 [1] - The injection product LIZHENRAN was approved for market entry in China in July 2025 [1] - Five existing innovative drugs are progressing steadily in commercialization, with scale effects becoming apparent [1] Strategic Initiatives - The company is focusing on specialty areas and actively deploying new retail and new media strategies to enhance its consumer healthcare product offerings [1] - The skin health business "德镁医药" is set to be independently listed on the Hong Kong Stock Exchange to unlock its independent value and high growth potential [1]

EF001 | 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的任何損失承擔任何責任。 | 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，並明確表示，概不對因 | | --- | --- | | | 股票發行人現金股息公告 | | 發行人名稱 | China Medical System Holdings Limited 康哲藥業控股有限公司* (*僅供識別) | | 股份代號 | 00867 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至二零二五年六月三十日止六個月之中期股息 | | 公告日期 | 2025年8月18日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年6月30日 | | 宣派股息 | 每 股 0.1555 RMB | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預 ...

*僅供識別 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。 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） （香港股份代號：867） （新加坡股份代號：8A8） 截至二零二五年六月三十日止六個月之中期業績公告及非執行董事辭任 China Medical System Holdings Limited（「本公司」）之董事會（「董事會」）欣然公佈本公司及其附屬 公司（「本集團」或「康哲藥業」）截至二零二五年六月三十日止六個月(「報告期」)之未經審計簡明 合併業績。 財務摘要 1 營業額同比增長 10.8%至人民幣 4,002.0 百萬元（二零二四年中期：人民幣 3,611.1 百萬元）；若全 按藥品銷售收入計算則營業額同比增長 8.9%至人民幣 4,669.6 百萬元（二零二四年中期：人民幣 4,287.5 百萬元） 毛利同比增長 7.2%至人民幣 2,8 ...

Core Insights - Chinese pharmaceutical companies are transitioning from "followers" to "leaders" in the global market, particularly focusing on Southeast Asia as a new growth area [1][3] - The recent secondary listing of Kangzhe Pharmaceutical on the Singapore Exchange marks a significant step in its internationalization strategy, aiming to leverage Southeast Asia's vast market potential [1][3][10] Market Expansion Strategies - Kangzhe Pharmaceutical is utilizing Singapore as a strategic hub to access the Southeast Asian pharmaceutical market, which has over 600 million people [3][10] - The company has established a comprehensive business ecosystem in Singapore, covering research, production, and sales, to enhance operational efficiency and market responsiveness [8][10][12] Challenges and Solutions - The company faces challenges such as fragmented regulations in emerging markets, varying payment capabilities, and differing healthcare needs across countries [5][6] - To address these challenges, Kangzhe Pharmaceutical has implemented localized registration strategies and established dedicated teams with extensive local experience [5][8] Product Focus and Innovation - Kangzhe Pharmaceutical is concentrating on specialized fields such as dermatology and ophthalmology, aiming to become a leader in niche markets rather than competing in saturated areas like oncology [13][14] - The company has a robust pipeline of approximately 40 innovative products, with a focus on high-quality, cost-effective solutions tailored to local market needs [14][17] Future Outlook - The company has invested over $100 million in the Southeast Asian and Middle Eastern markets over the past three years, indicating a strong commitment to expanding its footprint in these regions [10] - Kangzhe Pharmaceutical aims to leverage its established R&D capabilities and cost advantages from the Chinese market to enhance its product offerings in Southeast Asia [16][17]

Investment Rating - The industry investment rating is "Outperform the Market" [1][47]. Core Insights - The white spot market for vitiligo treatment is vast, with a potential market size expected to reach 21.7 billion yuan by 2030, driven by an increasing number of patients and the need for effective treatments [3][15][39]. - Current treatment options are inadequate, with no approved products specifically for vitiligo in China, highlighting a significant gap in the market that innovative drugs could fill [3][26]. - The competitive landscape is favorable, with several small pharmaceutical companies and leading firms vying for market share, and key products expected to receive approval soon [3][39]. Summary by Sections Part 1: Patient Demographics and Health Risks - The prevalence of vitiligo is significant, with approximately 22.83 million patients in China, of which 54.01% are receiving treatment [3][15]. - The condition is associated with severe psychological impacts, including a higher incidence of depression among patients [3][10]. Part 2: Current Treatment Limitations - Existing treatments, primarily involving drug therapy and phototherapy, have shown limited effectiveness, necessitating the introduction of new drugs with higher repigmentation rates [3][24]. - The current market lacks approved medications specifically for vitiligo, with existing drugs primarily approved for other conditions [3][26]. Part 3: Competitive Landscape and Drug Development - The vitiligo treatment sector is characterized by a lack of approved products, with several drugs in various stages of clinical trials, including one in Phase III and six in Phase II [3][39]. - JAK inhibitors are identified as key targets in drug development, with the first approved topical JAK1/JAK2 inhibitor, Ruxolitinib cream, showing promising sales growth [3][32][39]. - The innovative drug market for vitiligo is projected to reach 10 billion yuan, with significant interest in companies like Kangzheng Pharmaceutical and TianKang [3][39]. Part 4: Investment Recommendations - The report suggests focusing on the progress of drug development in the vitiligo sector and monitoring companies involved, including Kangzheng Pharmaceutical, TianKang, Huadong Medicine, and others [3][39].

Group 1 - The company, Kangzheng Pharmaceutical (00867.HK), has announced a board meeting scheduled for August 18, 2025, to consider and approve the interim results for the six months ending June 30, 2025 [1] - The board meeting will also consider the distribution of an interim dividend, if applicable [1]