帕金森病的发病根源是脑内黑质区域制造多巴胺的神经细胞逐渐凋亡，目前无法治癒。随着病情进展， 患者需完全依赖药物补充多巴胺，当药物浓度出现波动时，便会出现「开关效应」：「开期」指药物起 效时，患者的运动功能得到改善，身体活动相对自如。「关期」指药效减弱或消失时，患者迅速出现肢 体僵直、行动困难，如同断电一般。 罗替高汀贴片是一种非麦角类多巴胺受体激动剂，采用透皮给药方式，不仅避免了肝脏首过效应，更具 备长效缓释的特性，能够维持24小时稳定的血药浓度。对于存在「开关现象」的帕金森病患者，该药物 可显着减少「关期」发作、延长「开期」时间，同时降低脉冲式刺激多巴胺受体引发的运动并发症风 险，从而实现更平稳的症状控制。此外，每日一贴的简便用药方式有望极大的提升患者的用药依从性， 在伴有吞咽困难、需择期手术或高龄体弱的患者人群中具有显着优势。罗替高汀贴片已被纳入《中国帕 金森病治疗指南》等多部指南及共识，成为早发型帕金森病的初期治疗推荐用药。 罗菲定®依托集团自主研发的溶剂胶技术平台，是继老年痴呆治疗药物利斯的明透皮贴剂(苏乐达®) 后，集团在神经系统疾病透皮治疗领域的又一重磅成果。近年来，集团持续升级透皮贴剂技术平台， ...

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。 （於開曼群島註冊成立之有限公司） 網站：www.sinobiopharm.com （股份編號：1177） 1 羅替高汀貼片是一種非麥角類多巴胺受體激動劑，採用透皮給藥方式，不僅避免了肝臟首過效應， 更具備長效緩釋的特性，能夠維持24小時穩定的血藥濃度。對於存在「開關現象」的帕金森病患者， 該藥物可顯著減少「關期」發作、延長「開期」時間，同時降低脈衝式刺激多巴胺受體引發的運動併發 症風險，從而實現更平穩的症狀控制。此外，每日一貼的簡便用藥方式有望極大的提升患者的用藥 依從性，在伴有吞嚥困難、需擇期手術或高齡體弱的患者人群中具有顯著優勢。羅替高汀貼片已被 納入《中國帕金森病治療指南》等多部指南及共識[2]，成為早發型帕金森病的初期治療推薦用藥。 羅菲定®依托本集團自主研發的溶劑膠技術平台，是繼老年癡呆治療藥物利斯的明透皮貼劑（蘇樂達® ） 後，本集團在神經系統疾病透皮治療領域的又一重磅成果。近年來，本集團持 ...

Core Insights - The Hong Kong Stock Connect Innovative Drug ETF (工银, 159217) experienced a net redemption of 2.867 million yuan on December 1, ranking 15th out of 198 in cross-border ETF net outflows [1] - As of December 1, the fund's latest size is 5.56 billion yuan, down from 5.59 billion yuan the previous day, with a net outflow accounting for 0.05% of the previous day's size [1] - Over the past 5 days, the fund faced a net redemption of 4.3125 million yuan, ranking 53rd out of 198 in cross-border ETF net outflows [1] - In the last 10 days, the fund saw a net subscription of 129 million yuan, ranking 34th out of 198 in cross-border ETF net inflows [1] - Over the past 20 days, the fund had a net subscription of 251 million yuan, ranking 36th out of 198 in cross-border ETF net inflows [1] Fund Details - The Hong Kong Stock Connect Innovative Drug ETF (工银, 159217) was established on March 26, 2025, with an annual management fee of 0.40% and a custody fee of 0.07% [1] - The fund tracks the Hong Kong Stock Connect Innovative Drug Index (987018) [1] - As of December 1, the fund's total shares are 3.865 billion, with a total size of 5.56 billion yuan [1] Liquidity and Performance - As of December 1, the fund's cumulative trading amount over the last 20 trading days is 13.981 billion yuan, with an average daily trading amount of 699 million yuan [2] - The current fund managers are Liu Weilin and Jiao Wenlong, with returns of 43.85% and 63.95% respectively since their management began [2] Top Holdings - The fund's top holdings include: - 百济神州 (10.84%, 314.54 million shares, 589 million yuan) - 康方生物 (10.77%, 454.20 million shares, 586 million yuan) - 信达生物 (10.43%, 644.10 million shares, 567 million yuan) - 中国生物制药 (9.82%, 7184.50 million shares, 534 million yuan) - 石药集团 (7.72%, 4908.40 million shares, 420 million yuan) - 三生制药 (7.41%, 1469.60 million shares, 403 million yuan) - 翰森制药 (5.50%, 908.20 million shares, 299 million yuan) - 科伦博泰生物-B (3.55%, 41.14 million shares, 193 million yuan) - 再鼎医药 (2.79%, 621.62 million shares, 151 million yuan) [2] Comparative Analysis - Other ETFs tracking the Hong Kong Stock Connect Innovative Drug Index include: - 汇添富国证港股通创新药ETF (159570) with a size of 23.978 billion yuan and a recent average daily trading amount of 2.652 billion yuan [2] - 港股创新药ETF (159567) with a size of 8.460 billion yuan and a recent average daily trading amount of 1.457 billion yuan [2] - 南方国证港股通创新药ETF (159297) with a size of 1.459 billion yuan and a recent average daily trading amount of 0.115 billion yuan [2] - 鹏华国证港股通创新药ETF (159286) with a size of 0.607 billion yuan and a recent average daily trading amount of 0.088 billion yuan [2]

集团自主研发的国家1类创新药TRD208在中国开展的I期临床试验已顺利完成首例患者入组。TRD208是 一款全球首创的非阿片类多靶点多模式镇痛创新药，有望成为急性疼痛领域的重磅药物。 临床前数据表明，TRD208在术后痛模型中表现出快速起效、强效镇痛、时间持久的优势。作为具有多 靶点协同作用的非阿片类药物，TRD208有望首次实现单一药物达到多模式镇痛的效果，进而替代目前 临床主流的联合用药方案，满足镇痛全过程的临床需求，具有简化治疗方案、提升患者用药依从性、规 避阿片类药物成瘾与依赖风险的核心优势。 智通财经APP讯，中国生物制药(01177)公布，该集团自主研发的国家1类创新药TRD208在中国开展的I 期临床试验已顺利完成首例患者入组。TRD208是一款全球首创的非阿片类多靶点多模式镇痛创新药， 有望成为急性疼痛领域的重磅药物。 ...

中国生物制药(01177)公布，该集团自主研发的国家1类创新药TRD208在中国开展的I期临床试验已顺利 完成首例患者入组。TRD208是一款全球首创的非阿片类多靶点多模式镇痛创新药，有望成为急性疼痛 领域的重磅药物。 集团自主研发的国家1类创新药TRD208在中国开展的I期临床试验已顺利完成首例患者入组。TRD208是 一款全球首创的非阿片类多靶点多模式镇痛创新药，有望成为急性疼痛领域的重磅药物。 临床前数据表明，TRD208在术后痛模型中表现出快速起效、强效镇痛、时间持久的优势。作为具有多 靶点协同作用的非阿片类药物，TRD208有望首次实现单一药物达到多模式镇痛的效果，进而替代目前 临床主流的联合用药方案，满足镇痛全过程的临床需求，具有简化治疗方案、提升患者用药依从性、规 避阿片类药物成瘾与依赖风险的核心优势。 ...

格隆汇12月1日丨中国生物制药(01177.HK)宣布，集团自主研发的国家1类创新药TRD208在中国开展的I 期临床试验已顺利完成首例患者入组。TRD208是一款全球首创的非阿片类多靶点多模式镇痛创新药， 有望成为急性疼痛领域的重磅药物。 临床前数据表明，TRD208在术后痛模型中表现出快速起效、强效镇痛、时间持久的优势。作为具有多 靶点协同作用的非阿片类药物，TRD208有望首次实现单一药物达到多模式镇痛的效果，进而替代目前 临床主流的联合用药方案，满足镇痛全过程的临床需求，具有简化治疗方案、提升患者用药依从性、规 避阿片类药物成瘾与依赖风险的核心优势。 TRD208具有独特的多靶点作用机制，可以阻滞中枢神经的NaV1.7、NaV1.8等多个与疼痛相关的传导通 路，同时还具有非甾体类抗炎药(NSAID)外周抗炎镇痛的作用。此外，TRD208具有抑制中枢敏化的作 用，有望降低由于急性疼痛诱发神经病理性疼痛的风险。 ...

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。 （於開曼群島註冊成立之有限公司） 網站：www.sinobiopharm.com （股份編號：1177） 1 自願公告 2 TRD208「非阿片類多靶點多模式鎮痛」完成I期臨床試驗首例患者入組 中國生物製藥有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事會（「董事會」）宣佈，本集團自 主研發的國家1類創新藥TRD208在中國開展的I期臨床試驗已順利完成首例患者入組。TRD208是一 款全球首創的非阿片類多靶點多模式鎮痛創新藥，有望成為急性疼痛領域的重磅藥物。 TRD208具有獨特的多靶點作用機制，可以阻滯中樞神經的NaV1.7、NaV1.8等多個與疼痛相關的傳 導通路，同時還具有非甾體類抗炎藥(NSAID)外周抗炎鎮痛的作用。此外，TRD208具有抑制中樞敏 化的作用，有望降低由於急性疼痛誘發神經病理性疼痛的風險。 臨床前數據表明，TRD208在術後痛模型中表現出快速起效、強效鎮痛、時間持久的優 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國生物製藥有限公司 呈交日期: 2025年12月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01177 | 說明 | - | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 30,000,000,000 | HKD | | 0.025 HKD | | 750,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | 30,000,000,000 | | HKD | | 0.025 HKD | | 750,000,000 | 本月底法定/註冊股本總額： ...

Investment Summary - The innovative pharmaceutical sector is entering a commercialization harvest period, with significant performance improvements in the first three quarters of 2025 [5] - The medical device bidding market shows a substantial growth trend, with a 62.75% year-on-year increase in the first half of 2025 [22] - The rise of health-conscious consumer behavior is driving rapid market growth and innovation in health consumption [5] - Supportive policies from the government are catalyzing high-quality development in the pharmaceutical industry [5] Sector Performance Review - As of November 27, 2025, the pharmaceutical and biotechnology sector has seen a 16.56% increase since the beginning of the year, outperforming the CSI 300 index by 1.81 percentage points [8] - The chemical pharmaceutical sub-sector led the gains with a 33.67% increase, while the medical services and biological products sectors also performed well [8][12] Innovative Pharmaceuticals - Policy support is enhancing the entire chain of high-quality development, with significant improvements in the approval process for innovative drugs [15] - The number of approved innovative drugs has surged, with 48 new first-class innovative drugs approved in 2024, a fivefold increase compared to 2018 [15] - The domestic innovative drug market is expanding rapidly, with a projected market size of 1 trillion yuan by 2035 [21] Medical Insurance Market - The commercial insurance system is gradually improving, with multi-channel payment mechanisms being explored to meet public demand [5] - The aging population is increasing demand in chronic disease and rehabilitation sectors, with over 310 million people aged 60 and above in China by 2024 [5] Medical Devices - The medical device bidding market is recovering, with a 29.8% year-on-year growth in the third quarter of 2025 [22] - The overall revenue for the medical device sector in Q3 2025 was 604.49 billion yuan, showing a positive growth trend [22] Brain-Computer Interface - The brain-computer interface industry is expected to see significant growth, with potential market sizes ranging from 400 to 1450 billion USD by 2030-2040 [23] - National and local policies are promoting innovation in the brain-computer interface sector, with plans to establish several influential enterprises by 2030 [23][25] AI in Healthcare - The AI+ healthcare market is rapidly expanding, with a projected market size of 315.8 billion yuan by 2033, reflecting a compound annual growth rate of 43% [27] - The AI pharmaceutical sector is also growing, with a market size increase from 0.7 million yuan in 2019 to 4.1 million yuan in 2023 [31] Traditional Chinese Medicine - The traditional Chinese medicine sector is experiencing revitalization through new consumption patterns, with a significant increase in the number of TCM clinics across the country [33] - The market for chronic disease management is expanding, with a projected size of 4 trillion yuan by 2024 [33] New Health Consumption - Policies promoting health consumption are driving rapid growth in the health consumption sector, with the total revenue of China's health industry reaching 9 trillion yuan in 2024 [34] - The health consumption market is characterized by rapid growth and continuous innovation in business models [34]

经济观察网 11月26日，香港新界大埔区宏福苑突发火灾，引发全国上下关切。 正大制药总裁郑翔玲、中国生物制药首席执行长谢承润27日宣布，公司捐赠1000万港元的现金及药品， 用于受灾同胞的紧急安置及过渡期基本生活保障所需。 ...