Core Viewpoint - The company Shiyao Group has received approval from the National Medical Products Administration of the People's Republic of China for its self-developed drug SYH2066, which targets respiratory syncytial virus (RSV) and is set to enter clinical trials in China by September 2025 [1] Company Summary - SYH2066 is a new chemical entity classified as a Class 1 new drug, specifically designed as an oral small molecule candidate for treating respiratory infections caused by RSV [1] - The drug has demonstrated good oral bioavailability and favorable pharmacokinetic properties in preclinical studies, significantly reducing RSV viral load in animal models while showing high safety [1] - Currently, there are no targeted small molecule drugs for RSV available in the domestic and international markets, positioning SYH2066 as a potentially effective treatment with high clinical development value [1] Industry Summary - The approval of SYH2066 marks a significant advancement in the treatment options for RSV, a disease that currently lacks targeted small molecule therapies [1] - The development of this drug could address a critical gap in the market, potentially leading to improved patient outcomes and establishing a new standard of care for RSV infections [1]

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的任何損失承擔任何責任。 該產品為本集團自主研發的化學1類新藥，是一款作用於呼吸道合胞病毒（「RSV」）的新型口 服小分子候選藥物。本次獲批的適應症為用於治療由RSV引起的呼吸道感染（「該疾病」）。 臨床前研究表明，該產品具備良好的口服生物利用度等藥代動力學性質，並在疾病動物模 型中能顯著降低RSV病毒滴度，且安全性較高。 目前，國內外尚無靶向RSV的小分子藥物上市。該產品有望成為針對該疾病的有效治療藥 物，具有較高的臨床開發價值。 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 SYH2066片在中國獲臨床試驗批准 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SYH2066片（「該產品」）已於2025年9月獲中華人民共和國國家藥品監督管 理局批准，可在中國開展臨 ...

Market Overview - On September 11, the Hang Seng Index fell by 0.43%, closing at 26,086.32 points, while southbound funds through the Stock Connect recorded a net purchase of HKD 18.989 billion [1][3] - The total trading volume for the Stock Connect on September 11 was HKD 172.214 billion, with a net purchase of HKD 18.989 billion [1] Stock Performance - In the Shanghai Stock Connect, the total trading volume was HKD 103.737 billion, with a net purchase of HKD 8.073 billion [1] - In the Shenzhen Stock Connect, the total trading volume was HKD 68.477 billion, with a net purchase of HKD 10.916 billion [1] Active Stocks - The most actively traded stock in the Shanghai Stock Connect was Alibaba-W, with a trading volume of HKD 80.75 billion and a net purchase of HKD 29.46 billion, closing up by 0.35% [1][2] - Meituan-W had the highest net sell amount of HKD 9.36 billion, closing down by 5.06% [1][2] - In the Shenzhen Stock Connect, Alibaba-W also led with a trading volume of HKD 43.575 billion and a net purchase of HKD 7.835 billion [2] - The top net purchase stock was Innovent Biologics, with a net purchase of HKD 0.847 billion, despite closing down by 2.51% [2] Summary of Key Stocks | Stock Code | Stock Name | Trading Volume (HKD million) | Net Purchase (HKD million) | Daily Change (%) | |------------|------------------|------------------------------|----------------------------|-------------------| | 09988 | Alibaba-W | 807.48 | 294.62 | 0.35 | | 03690 | Meituan-W | 618.38 | -93.59 | -5.06 | | 00981 | SMIC | 491.04 | 41.75 | 4.97 | | 01801 | Innovent Biologics| 253.79 | 84.73 | -2.51 | | 00700 | Tencent Holdings | 263.33 | -92.26 | -0.63 | [2]

Market Overview - On September 11, the Hang Seng Index fell by 0.43% with a total southbound trading volume of HKD 172.21 billion, including buy transactions of HKD 95.60 billion and sell transactions of HKD 76.61 billion, resulting in a net buy of HKD 18.99 billion [1] Southbound Trading Activity - The southbound trading through Stock Connect (Shenzhen) had a total trading volume of HKD 68.48 billion, with buy transactions of HKD 39.70 billion and sell transactions of HKD 28.78 billion, leading to a net buy of HKD 10.92 billion [1] - The southbound trading through Stock Connect (Shanghai) had a total trading volume of HKD 103.74 billion, with buy transactions of HKD 55.91 billion and sell transactions of HKD 47.83 billion, resulting in a net buy of HKD 8.07 billion [1] Active Stocks - Alibaba-W was the most actively traded stock with a total trading volume of HKD 124.32 billion and a net buy of HKD 37.30 billion, closing with a price increase of 0.35% [1][2] - Other notable stocks included Meituan-W and SMIC, with trading volumes of HKD 84.52 billion and HKD 80.43 billion, respectively [1] - Tencent Holdings had the highest net sell amount of HKD 11.51 billion, closing down by 0.63% [1][2] Continuous Net Buying and Selling - Alibaba-W and SMIC were the only two stocks with continuous net buying for more than three days, with Alibaba-W having a total net buy of HKD 371.43 billion over 15 days and SMIC with HKD 15.76 billion over 3 days [2] - Stocks with continuous net selling included Kangfang Biotech, Tencent Holdings, and Meituan-W, with total net sell amounts of HKD 17.48 billion, HKD 14.61 billion, and HKD 10.28 billion, respectively [2]

Group 1 - Corning Jereh Pharmaceutical-B (09966) announced that its new drug application for KN026, in collaboration with Shanghai Jinmant Biotech Co., Ltd., has been accepted by the National Medical Products Administration of China for treating HER2-positive locally advanced, recurrent, or metastatic gastric/gastroesophageal junction adenocarcinoma patients who have failed at least one systemic treatment including trastuzumab-based chemotherapy [1] - The new drug application is based on a pivotal phase II/III clinical trial, which showed that KN026 combined with chemotherapy significantly improved clinical efficacy compared to existing standard treatments, extending progression-free survival (PFS) and overall survival (OS) without new safety risks, low incidence of cardiac toxicity, and low immunogenicity [1] - KN026 received breakthrough therapy designation from the National Medical Products Administration on November 4, 2023, and was granted priority review qualification on August 28, 2025 [1] Group 2 - Currently, there are no approved anti-HER2 drugs for second-line treatment of HER2-positive gastric cancer, making KN026 the first anti-HER2 bispecific antibody drug in China to achieve positive results in this indication [2] - The phase II clinical trial results for KN026 will be presented at the 2024 European Society for Medical Oncology annual meeting, showing an objective response rate of 40.0% and a median PFS of 8.6 months as assessed by an independent review committee [2]

Core Viewpoint - The application for the new drug KN026 (Anituzumab Injection) developed by the company's subsidiary has been accepted by the National Medical Products Administration of China, targeting HER2-positive gastric cancer patients who have failed at least one systemic treatment [1][2]. Group 1 - The product is a bispecific antibody that targets two non-overlapping epitopes of HER2, leading to HER2 signal blockade [2]. - The objective response rate for the product in combination with chemotherapy is reported at 40.0%, with a median progression-free survival of 8.6 months and a median overall survival of 13.2 months based on the results of a Phase II clinical trial [2]. - The application is primarily based on a key Phase II/III clinical trial (KC-WISE), which shows significant clinical efficacy compared to current standard treatments, with no new safety risks identified [2]. Group 2 - Currently, there are no approved anti-HER2 drugs for second-line treatment of HER2-positive gastric cancer, making this product the first bispecific antibody to achieve positive results in this indication in China [2]. - The company is actively advancing multiple clinical trials for the product targeting different solid tumor indications, with gastric and breast cancer developments currently in critical Phase III clinical trial stages [2].

Core Insights - Corning Jereh Pharmaceutical-B (09966) has received acceptance for its new drug application for KN026, a combination chemotherapy treatment for HER2-positive gastric cancer patients who have failed at least one systemic therapy, from the National Medical Products Administration of China [1] - The application is based on a pivotal Phase II/III clinical trial that demonstrated significant clinical efficacy, prolonging progression-free survival (PFS) and overall survival (OS) compared to existing standard treatments, with a low incidence of cardiac toxicity and immunogenicity [1] - KN026 is the first bispecific antibody drug in China to achieve positive results in second-line treatment for HER2-positive gastric cancer, with an objective response rate of 40.0% and a median PFS of 8.6 months reported at the 2024 European Society for Medical Oncology annual meeting [2] Company Developments - The collaboration between Corning Jereh Pharmaceutical and Shanghai Jinmant Biotech, a subsidiary of CSPC Pharmaceutical Group (01093), is focused on the development of KN026 [1] - KN026 has been granted breakthrough therapy designation by the National Medical Products Administration and has received priority review status, indicating its potential significance in treating gastric cancer [1] Industry Context - Currently, there are no approved anti-HER2 drugs for second-line treatment of HER2-positive gastric cancer, highlighting the market opportunity for KN026 [2] - The positive clinical trial results for KN026 may pave the way for its adoption in clinical practice, addressing an unmet medical need in the treatment of gastric cancer [2]

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的任何損失承擔任何責任。 該產品是一種抗HER2雙特異性抗體，可同時結合HER2的兩個非重疊表位，導致HER2信號 阻斷。在2024年歐洲腫瘤內科學會(ESMO)大會上，該產品的II期臨床研究結果首次公布。 該研究結果顯示，該產品聯合化療的客觀緩解率為40.0 %，經獨立評審委員會(IRC)評估的 中位無進展生存期為8.6個月，中位總生存期為13.2個月。本次上市申請主要是基於一項關 鍵II╱III期臨床試驗（ KC -WISE ）。III期臨床研究的首次期中分析結果顯示，與目前的標準 治療相比，該產品聯合化療可顯著提高臨床療效，延長無進展生存期和總生存期，且在安 全性方面無新發安全性風險，心臟毒性發生率低，免疫原性低。 該 產 品 本 次 按 照 治 療 用 生 物 製 品 1 類 新 藥 申 報 ， 其 適 應 症 為 聯 合 化 療 用 於 至 少 接 受 過 一 種 系統性治療（ 必須包含曲妥珠單抗聯合化療 ）失敗，HER ...

Core Insights - On September 11, 2025, Alibaba-W (09988), Meituan-W (03690), and SMIC (00981) were the top three stocks by trading volume in the southbound trading of the Shanghai-Hong Kong Stock Connect, with trading amounts of 8.075 billion, 6.184 billion, and 4.910 billion respectively [1] - In the southbound trading of the Shenzhen-Hong Kong Stock Connect, Alibaba-W (09988), SMIC (00981), and Innovent Biologics (01801) led the trading volume, with amounts of 4.357 billion, 3.132 billion, and 2.538 billion respectively [1] Southbound Trading Highlights - **Shanghai-Hong Kong Stock Connect:** - Alibaba-W (09988): Trading amount of 8.075 billion, net buying of 2.946 billion - Meituan-W (03690): Trading amount of 6.184 billion, net selling of 0.936 billion - SMIC (00981): Trading amount of 4.910 billion, net buying of 0.417 billion - Other notable companies include Kangfang Biologics (09926) with a trading amount of 2.797 billion and net selling of 0.755 billion, and Tencent Holdings (00700) with a trading amount of 2.633 billion and net selling of 0.923 billion [2] - **Shenzhen-Hong Kong Stock Connect:** - Alibaba-W (09988): Trading amount of 4.357 billion, net buying of 0.784 billion - SMIC (00981): Trading amount of 3.132 billion, net buying of 0.515 billion - Innovent Biologics (01801): Trading amount of 2.538 billion, net buying of 0.847 billion - Other significant companies include Kangfang Biologics (09926) with a trading amount of 2.418 billion and net buying of 0.365 billion, and Meituan-W (03690) with a trading amount of 2.268 billion and net buying of 0.839 billion [2]

Market Overview - The Hong Kong stock market indices collectively declined, ending a four-day rally, with the Hang Seng Index dropping 0.43% to close just above 26,000 points [1] - The Hang Seng Index, the Hang Seng China Enterprises Index, and the Hang Seng Tech Index fell by 0.43%, 0.73%, and 0.24% respectively [2] Sector Performance - Large technology stocks generally fell, with Meituan dropping over 5%, and other major players like Bilibili and Baidu also experiencing declines [5] - Semiconductor stocks showed strong gains, with notable increases in Shanghai Fudan and SMIC, driven by robust demand in the AI sector [6][7] - The copper and aluminum sectors performed actively, supported by expectations of a Federal Reserve interest rate cut [3][9] Notable Stocks - Meituan's stock price fell to 96.55, down 5.06%, with a market capitalization of 590.03 billion [6] - Semiconductor stocks like Shanghai Fudan and Huahong Semiconductor saw increases of over 5% and 4% respectively, reflecting strong market interest [7] - Apple-related stocks surged, with Hongteng Precision rising over 12% following the launch of new iPhone models [8] Biopharmaceutical Sector - The biopharmaceutical sector faced significant declines, with companies like Gilead Sciences and Hansoh Pharmaceutical dropping nearly 20% and 9% respectively, amid reports of potential U.S. restrictions on Chinese pharmaceuticals [10][11] Investment Trends - Southbound funds recorded a net inflow of 18.99 billion HKD, indicating continued interest in Hong Kong stocks [12] - Analysts suggest that the Hong Kong market's low valuations and improving asset quality may attract more foreign investment, particularly in the internet sector [14]