Company News - Xinyi International (00732.HK) reported an unaudited consolidated revenue of approximately HKD 1.278 billion for November, a year-on-year decrease of about 14.9%. The cumulative revenue for the first 11 months was approximately HKD 15.259 billion, down 6.2% year-on-year [2] - Jieli Trading (08017) announced an increase of 10 institutional clients by November 2025, up by 4 clients year-on-year. The registered user count reached approximately 883,100, a year-on-year increase of 6.2%, while the number of users for IPO subscriptions was about 113,100, reflecting an 8.2% year-on-year growth [2] - China Overseas Development (00688.HK) reported a cumulative contract property sales amount of approximately RMB 211.399 billion for the first 11 months, a year-on-year decline of 21.8% [2] - Gemdale Commercial (00535.HK) recorded a cumulative contract sales total of approximately RMB 9.874 billion for the first 11 months, down 43.5% year-on-year [2] - China Overseas Hongyang Group (00081) reported a cumulative contract sales amount of RMB 29.615 billion for the first 11 months, a year-on-year decrease of 16.6% [2] - Sunac China (01918.HK) achieved a cumulative contract sales amount of approximately RMB 33.89 billion for the first 11 months, a year-on-year decrease of 25.34% [2] - Hongyang Real Estate (01996.HK) reported a cumulative contract sales amount of RMB 4.181 billion for the first 11 months, down 47.87% year-on-year [3] - Country Garden (02007.HK) achieved a contract sales amount of approximately RMB 2.35 billion in November [4] - China Biopharmaceutical (01177.HK) received NMPA and FDA approval for the clinical trial application of "TQF3250," an oral GLP-1 receptor agonist [4] Buyback Activities - Yueda Group (00772.HK) plans to repurchase up to 102.2 million shares with a maximum total expenditure of HKD 1.2 billion [5] - Tencent Holdings (00700.HK) repurchased approximately 1.044 million shares for about HKD 636 million, with repurchase prices ranging from HKD 605 to HKD 613 [5] - Xiaomi Group-W (01810.HK) repurchased 2.4 million shares for approximately HKD 101 million, with a repurchase price of HKD 41.88 [5] - COSCO Shipping Holdings (01919.HK) repurchased 3 million shares for approximately HKD 41.8218 million, with repurchase prices between HKD 13.89 and HKD 13.99 [5] - Kuaishou-W (01024.HK) repurchased 445,000 shares for approximately HKD 29.923 million, with repurchase prices ranging from HKD 67.00 to HKD 67.55 [6] - China Feihe (06186.HK) repurchased 6.281 million shares for approximately HKD 25.7521 million, with a repurchase price of HKD 4.1 [7] - Green Tea Group (06831.HK) plans to repurchase shares with a total price not exceeding HKD 130 million [7]

Group 1 - The core point of the article is that China Biologic Products (01177.HK) has received approval from the NMPA and FDA for its innovative oral GLP-1 receptor agonist TQF3250, aimed at weight loss [1] - TQF3250 is a small molecule oral GLP-1 receptor agonist that selectively activates the cAMP pathway, promoting insulin secretion while reducing gastrointestinal side effects compared to traditional GLP-1 drugs [1] - The oral administration of TQF3250 enhances patient convenience and long-term treatment adherence compared to injectable GLP-1 medications [1] Group 2 - Obesity and overweight are significant public health challenges, with global adult obesity rates expected to rise from 36% in 2000 to 50% by 2030, affecting nearly 3 billion people [2] - In China, the trend is particularly pronounced, with an estimated 41% of adults projected to have a high BMI (≥25 kg/m²) by 2025, and 9% classified as obese (BMI ≥30 kg/m²) [2] - TQF3250 has also received NMPA approval for clinical trials targeting type 2 diabetes, aligning with the company's focus on metabolic diseases and diverse product pipeline [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 除減重適應症外，TQF3250用於治療2型糖尿病的臨床試驗申請已獲NMPA批准。代謝性疾病是本集 團聚焦的核心治療領域之一，本集團將通過多元化的產品管線，為患者提供更豐富的治療選擇。 參考文獻： 自願公告 TQF3250「口服偏向型GLP-1受體激動劑」臨床試驗申請獲NMPA、FDA批准 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 主研發的創新藥TQF3250膠囊「口服偏向型GLP-1受體激動劑」的臨床試驗申請已獲得中國國家藥品監 督管理局(NMPA)和美國食品藥品監督管理局(FDA)的批准，擬用於減重。 TQF3250是一款口服小分子偏向型GLP-1受體激動劑。與傳統GLP-1藥物相比，TQF3250通過選擇性 激活cAMP偏向的GLP- ...

中国生物制药(01177)发布公告，集团开发的"罗替高汀贴片"(商标名：罗菲定)已获得中国国家药品监督 管理局的上市批准，用于早期特发性帕金森病症状及体征的单药治疗，或与左旋多巴联合用于病程中的 各个阶段。 帕金森病是中老年常见的神经退行性疾病，《中国帕金森病报告2025》显示，国内现存帕金森病患病人 数超过500万例。除动作迟缓、肌强直、静止性震颤、姿势平衡障碍等运动症状外，疾病表现常伴有嗅 觉障碍、睡眠行为异常、抑郁焦虑、便秘等多种非运动症。 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，目前无法治愈。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，同时降低脉衝式刺激多巴胺受体引发的 ...

智通财经APP讯，中国生物制药(01177)发布公告，集团开发的"罗替高汀贴片"(商标名：罗菲定®)已获 得中国国家药品监督管理局的上市批准，用于早期特发性帕金森病症状及体征的单药治疗，或与左旋多 巴联合用于病程中的各个阶段。 帕金森病是中老年常见的神经退行性疾病，《中国帕金森病报告2025》显示，国内现存帕金森病患病人 数超过500万例。除动作迟缓、肌强直、静止性震颤、姿势平衡障碍等运动症状外，疾病表现常伴有嗅 觉障碍、睡眠行为异常、抑郁焦虑、便秘等多种非运动症。 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，目前无法治愈。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，同时降低脉衝式 ...

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。 ...