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]

智通财经APP讯，康宁杰瑞制药-B(09966)发布公告，该公司与石药集团有限公司(01093)附属公司上海 津曼特生物科技有限公司合作开发的KN026联合化疗用于治疗至少接受过一种系统性治疗(必须包含曲 妥珠单抗联合化疗)失败的人表皮生长因子受体2(HER2)阳性(HER2+)局部晚期、复发或转移性胃/胃 - 食 管结合部腺癌(GC/GEJ)患者的新药上市申请(新药上市申请)，已获中国国家药品监督管理局(国家药监 局)受理。本次新药上市申请主要是基于一项关键II/III期临床试验，其期中分析结果显示，与现有标准 治疗相比，KN026联合化疗显著提高临床疗效，延长患者的无进展生存期(PFS)和总生存期(OS)，且在 安全性方面无新发安全性风险，心脏毒性发生率低，免疫原性低。此外，KN026已于2023年11月4日获 国家药监局药品审评中心授予突破性治疗药物认定，并已于2025年8月28日获优先审评审批资格。 该信息由智通财经网提供 目前，HER2+ 胃癌二线治疗尚无获批上市的抗HER2药物，KN026是中国首个在胃癌二线治疗中获得阳 性结果的抗HER2双特异性抗体药物。KN026的II期临床试验结果于2024 ...

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 ...

深港通（南向）十大活跃成交公司 | 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 阿里巴巴-W(09988) | 43.57 亿元 | +7.84 亿元 | | 中芯国际(00981) | 31.32 亿元 | +5.15 亿元 | | 信达生物(01801) | 25.38 亿元 | +8.47 亿元 | | 康方生物(09926) | 24.18 亿元 | +3.65 亿元 | | 美团-W(03690) | 22.68 亿元 | +8.39 亿元 | | 石药集团(01093) | 21.59 亿元 | +2.67 亿元 | | 腾讯控股(00700) | 17.39 亿元 | -2.29 亿元 | | 百济神州(06160) | 17.30 亿元 | +8.27 亿元 | | 三生制药(01530) | 16.52 亿元 | +2.15 亿元 | | 中国生物制药(01177) | 16.02 亿元 | +3.24 亿元 | 智通财经APP获悉，2025年9月11日当天，阿里巴巴-W(09988)、美团-W(03690)、中芯国际(00981)位居 沪港通（南向 ...

9月11日，港股三大指数集体下跌，均止步4连涨行情，市场做多情绪趋于谨慎。 截止收盘，恒生指数跌0.43%险守26000点大关，国企指数、恒生科技指数分别下跌0.73%及0.24%。 | 名称 | | 最新价 | 涨跌额 | 涨跌幅 | | --- | --- | --- | --- | --- | | 恒生指数 | 7 | 26086.32 | -113.94 | -0.43% | | 800000 | | | | | | 国企指数 | intrieter | 9260.25 | -67.91 | -0.73% | | 800100 | | | | | | 恒生科技指数 | Mala | 5888.77 | -13.92 | -0.24% | | 800700 | . NY | | | | 具体来看： 盘面上，大型科技股普遍走低，尤其是美团跌6%刷新阶段新低；报道称特朗普政府拟限制中国药品，生物医药股集体重挫，创新药概念股跌幅居前；影视 娱乐股、钢铁股、汽车股、内房股、手游股多数低迷。 半导体芯片股涨幅强势；受美联储降息前景支撑，铜、铝等有色金属股表现活跃，军工、苹果概念、建材水泥、重型机械、高铁基建股走强 ...

Group 1 - Hansoh Pharmaceutical experienced a decline of 14.98% [1] - Fuhong Hanlin saw a drop of 11.84% [1] - Other companies such as CSPC Pharmaceutical, WuXi Biologics, and BeiGene also opened lower [1]

Group 1 - The Hong Kong stock market saw a collective decline in the biopharmaceutical sector, with China Biologic Products and CSPC Pharmaceutical Group dropping over 10% [1] - Fosun Pharma experienced a decline of over 7%, while WuXi Biologics and WuXi AppTec also followed suit with declines [1]