第 1 頁 共 2 頁 v 1.1.1 EF001 EF001 免責聲明 | 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 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。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 石藥集團有限公司 | | 股份代號 | 01093 | | 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 截至二零二五年十二月三十一日止年度之末期股息 | | | 公告日期 | 2026年3月25日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 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12月31日 | | 宣派股息 | 每 股 0.15 HKD | | 股東批准日期 | 2026年5月28日 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.15 ...

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 對 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 之 任 何 損 失 承 擔 任 何 責 任。 CSPC PHARMACEUTICAL GROUP LIMITED 石藥集團有限公司 （股份代號：1093） （於香港註冊成立之有限公司） 截 至2025年12月31日 止 年 度 之 全 年 業 績 石 藥 集 團 有 限 公 司（「本 公 司」）董 事 會（「董 事 會」）欣 然 公 佈，本 公 司 及 其 附 屬 公 司（「本 集 團」）截 至2025年12月31日 止 年 度 之 經 審 核 綜 合 業 績。 – 1 – 主 席 報 告 業 績 2025年 的 本 公 司 股 東 應 佔 呈 報 溢 利 為 人 民 幣38.82億 元，而2024年 則 為 人 民 幣43.28億 元。 撇 除 按 公 平 值 計 ...

ile 77 ock Code : 1093) 2025 Results Presentation IND approvals : North America (18) China (58) Mar. 2026 INNOVAT 2025 Updates Regulatory Updates New drugs approved (including new indications): Breakthrough Therapy Designations: Major Clinical Trial Progress New pivotal clinical trials: Shareholder Return Since the beginning of the year 2025, a total of HK$ 4 been repurchased (including HK$153 million for equity incentive plan). The full-year dividend per share is HK Z cents (including interim dividend of H ...

石 藥 集 團 有 限 公 司 （股份代號：1093） （於香港註冊成立之有限公司） 自願公告 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，概不對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之任何損失承擔任何責任。 石 藥 集 團 有 限 公 司（「 本 公 司 」， 連 同 其 附 屬 公 司 統 稱「 本 集 團 」）董 事 會（「 董 事 會 」）欣 然 宣 佈，本集團開發的阿瑞匹坦注射液(4.4ml: 32mg)（「該產品」）已獲得中華人民共和國國家藥品 監督管理局頒發的藥品註冊批件。 該 產品 是 新一 代 NK -1 受 體 拮抗 劑 ，是 一 種亞 微 乳注 射劑 ， 可與 大 腦中 NK -1 受 體高 選擇 性 地 結 合 併 拮 抗P 物 質 ，以 有 效 預 防 急 性 和 遲 發 性嘔 吐 。 該 產 品 適 用 於 預 防成 人 術 後 噁 心 和 嘔吐(PONV)。與阿瑞匹坦傳統劑型相比，該產品起效迅速，可顯著提高患者的順應性，並 能有效降低臨床使用中過敏反應的發生率，為成人術後噁心和嘔吐的預 ...

Core Viewpoint - The article highlights the approval of SYH2082, a GLP-1/GIP receptor dual agonist developed by Shiyao Group, for clinical trials in China, marking a significant step in the competitive weight loss drug market, emphasizing a shift from a follow-up strategy to a focus on differentiated mechanisms and administration convenience [4]. Group 1 - SYH2082 is not just an ordinary dual agonist but a biased dual agonist that selectively activates the cAMP pathway while reducing β-arrestin recruitment, aiming to enhance efficacy and prolong action time [5]. - The design of SYH2082 allows for monthly administration, contrasting with the more common weekly formulations in the market, indicating a shift in competition towards better adherence and stability in weight management [5]. - The approved indication for SYH2082 in China targets obesity or overweight individuals with at least one weight-related comorbidity, and it also shows potential for improving blood glucose control in type 2 diabetes patients, expanding its market potential beyond just weight loss [7]. Group 2 - While the current data on SYH2082's efficacy and tolerability mainly comes from preclinical and toxicological studies, it is still seen as a potential candidate rather than a mature product ready for market [8]. - The simultaneous approval for clinical trials in both China and the U.S. signals a clear market trend where the focus is shifting towards next-generation products that offer longer-lasting effects, convenience, and better tolerability [8].

Investment Rating - The report suggests a positive investment outlook for the innovative drug sector, highlighting potential opportunities due to upcoming clinical data and successful overseas clinical progress of pipelines [2][4]. Core Insights - The chemical products sector is experiencing significant price increases due to rising international oil prices and high overseas energy costs, particularly affecting solvent products which are difficult to stockpile [1][10]. - The raw material pharmaceutical products are expected to see price increases as upstream raw material costs rise, with downstream clients maintaining low inventory levels since April 2023, indicating a potential for sustained price increases and profit elasticity [1][10]. - The report emphasizes the importance of the PI3K/AKT/mTOR signaling pathway in cancer treatment, with renewed focus on PI3K inhibitors, particularly following Novartis's acquisition of Synnovation Therapeutics' PI3Kα inhibitor SNV4818 [34][35][36]. Summary by Sections Raw Materials - The report notes that the pharmaceutical raw material sector is poised for price increases due to rising upstream costs and low inventory levels among clients, which could lead to sustained profitability [1][10]. Pharmaceuticals - Novartis announced a $2 billion upfront payment and up to $1 billion in milestone payments to acquire Synnovation Therapeutics' PI3Kα inhibitor SNV4818, indicating a strategic focus on differentiated therapies in the HR+/HER2- breast cancer market [2][34]. Medical Devices - Innovative products in the medical device sector are expanding into international markets, with companies like MicroPort receiving CE certification for pediatric applications of their surgical robots, enhancing their global brand presence [3][11]. Biologics - The report highlights the promising results of the oral GLP-1 Aleniglipron, which showed significant weight loss in clinical trials, suggesting a shift towards oral formulations that improve patient compliance and reduce logistics costs [3][12]. Traditional Chinese Medicine - The report suggests monitoring undervalued high-dividend assets within the traditional Chinese medicine sector as companies begin to release their performance results [3][12]. Healthcare Services and Consumer Healthcare - The report discusses the upcoming release of the DRG/DIP 3.0 version by the National Healthcare Security Administration, expected to be published around July 2023, which will provide insights into the evolving healthcare payment landscape [3][12]. Investment Recommendations - The report recommends focusing on core sectors such as small nucleic acids, bispecific antibodies, and ADCs, while also identifying opportunities during earnings forecast windows and major clinical data release events [2][4].

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，概不對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之任何損失承擔任何責任。 CSPC PHARMACEUTICAL GROUP LIMITED 石 藥 集 團 有 限 公 司 （股份代號：1093） （於香港註冊成立之有限公司） 自願公告 GLP -1 / GIP受體雙偏向性激動多肽長效注射液（SYH2082注射液） 在中國獲臨床試驗批准 – 1 – 本 次 獲 批 的 臨 床 適 應 症 為 肥 胖 或 超 重 合 併 至 少 一 種 體 重 相 關 合 併 症 人 群 的 體 重 管 理 。 此 外，SYH2082亦具備改善成人2型糖尿病（ T2DM ）患者的血糖控制的潛力，帶來臨床獲益。 本次臨床試驗的獲批，是本集團在代謝領域創新長效產品佈局的重要成果，為未來更多創 新產品的開發奠定堅實基礎。 石 藥 集 團 有 限 公 司（「 本 公 司 」， 連 同 其 附 屬 公 司 統 稱「 本 集 團 」）董 事 會（「 董 事 會 」）欣 然 宣 佈 ， 本 集 團 開 發 ...

Core Insights - The core product of CSPC Pharmaceutical Group, Nintedanib soft capsules (brand name: Yiluo Da), for treating fibrotic interstitial lung disease, was launched on Alibaba Health on March 18, marking its first expansion into the outpatient e-commerce channel since its market introduction in 2022 [1][4]. Group 1: Product and Market Position - Nintedanib has established itself as a significant player in the domestic antifibrotic treatment market due to its bioequivalence to the original drug and price advantages [1][4]. - The drug is a small molecule tyrosine kinase inhibitor approved by the FDA in October 2014 for treating idiopathic pulmonary fibrosis (IPF) and has since been approved for other related conditions [4]. Group 2: Patient Demographics and Treatment Challenges - There are over one million patients with interstitial lung disease in China, with an increasing incidence rate, particularly for IPF, which has a median survival of only 3-5 years without treatment [3]. - The challenges in clinical treatment include the irreversible progression of the disease and the difficulty in ensuring long-term medication adherence, highlighting the need for better patient management and more accessible drug acquisition channels [3]. Group 3: E-commerce Strategy and Patient Support - The launch on Alibaba Health represents a strategic move for CSPC to embrace the "Internet + Healthcare" model, enhancing patient services [4]. - Alibaba Health aims to improve patient adherence to long-term medication through a comprehensive chronic disease management system and convenient delivery networks [4].

Investment Strategy - The multi-level payment system supports the development of innovation in the pharmaceutical industry, with China's innovation beginning to shine [11][12][14] - The approval of innovative drugs and medical devices by the National Medical Products Administration has reached 204 and 265 respectively since the 14th Five-Year Plan, with 50 innovative drugs approved in the first seven months of 2025 [11][12] - The total amount of license-out transactions in China's pharmaceutical industry reached $92.03 billion in the first three quarters of 2025, indicating rapid growth and increased international competitiveness of Chinese innovative drugs [11][12] Medical Insurance and Payment Mechanisms - The commercial health insurance market is expected to grow, with a premium scale of CNY 977.3 billion in 2024, supporting the development of innovative drugs and devices [12][43] - The introduction of a commercial health insurance directory for innovative drugs in 2025 marks a shift towards a multi-payment model, enhancing the payment structure for innovative drugs [36][37] - The basic medical insurance system focuses on essential coverage, while commercial insurance emphasizes innovation and advanced treatments, facilitating the commercialization of leading-edge medical technologies [14][36] Pharmaceutical Industry Trends - Chinese innovative drugs are making significant strides in international markets, with a notable increase in license-out transactions, particularly in the oncology sector [48][49] - The global oncology drug expenditure is projected to grow from $144 billion in 2019 to $441 billion by 2029, driven by innovative therapies such as ADCs and bispecific antibodies [48][58] - The commercialization of biosimilars is steadily progressing, with opportunities arising from the expiration of original patents in the global market [48][49] Medical Devices and Services - The medical device sector is experiencing growth due to policy support and demand release, with a focus on high-end medical equipment and innovative medical consumables [15][23] - The trend of high-end customized medical consumables is gaining traction, with Chinese manufacturers increasingly integrated into the global supply chain [15][23] - The development of brain-computer interface technology and AI medical applications presents significant investment opportunities [15][23] CXO and Life Sciences - Chinese CXO companies are enhancing their global competitiveness through superior technology and cost efficiency, with a recovery in order volumes expected in 2026 [4][15] - The investment environment for innovative drugs is improving, leading to a resurgence in orders for CXO companies since 2025 [4][15]

Investment Rating - The report indicates a positive outlook for the neurodegenerative disease drug market, with expectations for continued expansion driven by various factors such as aging population and innovative therapies [4][16]. Core Insights - Neurodegenerative diseases are characterized by progressive loss of neurons, significantly impacting memory, cognition, behavior, and motor control [4]. - The global and Chinese neurodegenerative disease drug markets are projected to grow, with the global market expected to reach $99.9 billion by 2033, and the Chinese market anticipated to grow to $6.5 billion [16]. - Companies are increasingly utilizing mergers and acquisitions to enhance their competitive edge in Alzheimer's treatment, focusing on diverse mechanisms and technologies [4][27]. Summary by Sections Industry Overview - The neurodegenerative disease market is expanding due to factors like increased patient numbers from aging, breakthroughs in targeted and gene therapies, and advancements in early screening technologies [4][16]. - The industry is characterized by a complex drug development process, with high barriers due to the intricate pathology of these diseases [9][10]. Alzheimer's Disease Market - The number of Alzheimer's patients globally is expected to rise from 38.4 million in 2024 to 43.5 million by 2033, with a compound annual growth rate (CAGR) of 1.5% [24]. - The report highlights a shift towards multi-target interventions in drug development, with a focus on both symptomatic relief and disease modification [29][32]. - Mergers and acquisitions in the Alzheimer's sector are frequent, with companies acquiring technologies to diversify treatment options [26][27]. Parkinson's Disease Market - The number of Parkinson's patients in China is projected to increase from 3.4 million in 2024 to 6.2 million by 2033, reflecting a CAGR of 6.0% [38]. - The treatment landscape for Parkinson's includes various stages and methods, from early-stage medication to advanced surgical interventions [36][38]. - Research continues to focus on optimizing traditional drug targets while exploring new avenues for treatment [5]. Multiple Sclerosis Market - The treatment options for multiple sclerosis (MS) are diverse, with various mechanisms of action, but there remains a significant unmet clinical need due to product shortages [6]. - The report emphasizes the need for innovative strategies to address the different subtypes of MS and their respective treatment challenges [6]. Market Dynamics - The report outlines a positive trend in the neurodegenerative disease drug market, driven by demographic changes and technological advancements in drug development [16][18]. - The industry is witnessing a shift towards collaborative efforts and international partnerships to enhance research capabilities and market presence [9][10].