2025年7月29日，默沙东在二季度业绩会上披露，LM-299的技术转移已于7月完成，预计将于第三季度 确认3亿美元的技术转移里程碑款项。此外，在电话会问答环节，默沙东回应分析师查询称，LM299项 目正按计划如期推进。 据悉，2024年，礼新医药与默沙东就LM-299达成全球独家授权协议。根据协议条款，默沙东将获得 LM299的全球开发、生产和商业化独家许可。礼新医药将获得5.88亿美元的首付款，以及最高27亿美元 的里程碑付款。 中国生物制药(01177)早盘涨超3%，截至发稿，涨3.19%，报7.7港元，成交额1亿港元。 消息面上，7月30日，中国生物制药公布，该集团全资附属公司礼新医药科技(上海)有限公司(礼新医药) 与默沙东就LM-299/MK-2010"PD-1/VEGF双抗"的对外授权合作进展顺利，该集团将于近期收到3亿美元 的技术转移里程碑付款。 ...

Core Viewpoint - China Biologic Products Holdings (01177) experienced a stock increase of over 3%, reaching HKD 7.7 with a trading volume of HKD 100 million, following the announcement of a successful collaboration with Merck on the LM-299/MK-2010 "PD-1/VEGF dual antibody" [1] Group 1 - On July 30, China Biologic announced that its wholly-owned subsidiary, Lixin Pharmaceutical Technology (Shanghai) Co., Ltd., is progressing well in its collaboration with Merck regarding LM-299 [1] - The company is expected to receive a milestone payment of USD 300 million for technology transfer in the near future [1] - Merck disclosed during its Q2 earnings call on July 29 that the technology transfer for LM-299 was completed in July and the milestone payment is anticipated to be confirmed in Q3 [1] Group 2 - In 2024, Lixin Pharmaceutical and Merck reached a global exclusive licensing agreement for LM-299 [1] - According to the agreement, Merck will obtain exclusive rights for global development, production, and commercialization of LM-299 [1] - Lixin Pharmaceutical will receive an upfront payment of USD 588 million, along with potential milestone payments totaling up to USD 2.7 billion [1]

港股创新药概念多股走强，歌礼制药(01672.HK)、石药集团(01093.HK)涨近3%，中国生物制药 (01177.HK)涨超2%，百济神州(06160.HK)、翰森制药(03692.HK)等跟涨。 ...

Performance Summary - Ningde Times (03750.HK) reported a revenue of 178.886 billion yuan for the first half of the year, an increase of 7.27% year-on-year, with a net profit of 30.512 billion yuan, up 33.02% year-on-year [2] - Hisense Home Appliances (00921.HK) achieved a total operating revenue of 49.34 billion yuan, a year-on-year increase of 1.44%, and a net profit of 2.077 billion yuan, up 3.01% year-on-year [2] - New Oriental-S (09901.HK) recorded a net revenue of 4.9 billion USD for the fiscal year 2025, a year-on-year increase of 13.6%, with a net profit of 372 million USD, up 20.1% year-on-year [2] - Weisheng Holdings (03393.HK) reported an operating income of 1.368 billion yuan, a year-on-year increase of 11.88%, and a net profit of 305 million yuan, up 12.24% year-on-year [2] - Yingda Real Estate (00432.HK) had a total revenue of 736 million HKD, a year-on-year growth of 35%, but reported a net loss of approximately 249 million HKD, an increase of 62.75% year-on-year [2] - Saint Bella (02508.HK) announced a profit alert, expecting a net profit of over 320 million yuan, turning from loss to profit year-on-year [2] - Aoneng Construction (01183.HK) issued a profit alert, expecting a net profit increase of over 125% to no less than 18 million MOP year-on-year [2] - Da Cheng Corn Group (03889.HK) issued a profit warning, expecting a net loss of approximately 65 to 85 million HKD, turning from profit to loss year-on-year [2] Company News - Sinopec Oilfield Services (01033.HK) announced that its subsidiary won a natural gas pipeline engineering project with a bid amount of 3.597 billion yuan, accounting for 4.44% of the 2024 revenue [2] - CSPC Pharmaceutical Group (01093.HK) signed an exclusive licensing agreement with MADRIGAL for SYH2086, with potential total payments of up to 2.075 billion USD [2] - China Biopharmaceutical (01177.HK) reported successful external licensing cooperation for LM-299, with a milestone payment of 300 million USD expected to be received soon [2] - Chunquan Industrial Trust (01426.HK) reported an average rental rate of approximately 86% for Huamao Property in the second quarter [2] - Sihuan Pharmaceutical (00460.HK) completed the first patient enrollment in a Phase III clinical trial for the new indication of the innovative drug Annelazole Sodium for gastroesophageal reflux disease [2] - Zhaoke Ophthalmology-B (06622.HK) received orphan drug designation from the FDA for Mephalan for the treatment of retinoblastoma in children [2] - Yunnan Construction Investment Concrete (01847.HK) continues to sign concrete supply contracts for the expansion project of Kunming Changshui International Airport, with a contract amount of approximately 283 million yuan [2] Buyback and Increase Dynamics - Vitasoy International (00345.HK) repurchased 2.122 million shares for approximately 19.6 million HKD at a price range of 9.2 to 9.26 HKD [2] - China Eastern Airlines (00670.HK) spent approximately 7.2536 million HKD to repurchase 2.5 million shares at a price range of 2.89 to 2.92 HKD [2]

Core Insights - China Biologic Products Holdings (01177) announced that its wholly-owned subsidiary, Lixin Pharmaceutical Technology (Shanghai) Co., Ltd., is making significant progress in its collaboration with Merck on the LM-299/MK-2010 "PD-1/VEGF dual antibody" licensing agreement [1] - Merck disclosed during its Q2 earnings call that the technology transfer for LM-299 was completed in July, with a $300 million milestone payment expected to be confirmed in Q3 [1] - In 2024, Lixin Pharmaceutical and Merck reached a global exclusive licensing agreement for LM-299, which includes an upfront payment of $588 million and potential milestone payments of up to $2.7 billion [1] Group 1 - The collaboration between Lixin Pharmaceutical and Merck is progressing smoothly, with a significant milestone payment on the horizon [1] - The technology transfer for LM-299 has been completed, indicating a positive trajectory for the project [1] - The global exclusive licensing agreement includes substantial financial commitments from Merck, highlighting the potential value of the LM-299 project [1]

Core Insights - China Biologic Products Holdings (01177) announced that its wholly-owned subsidiary, Lixin Pharmaceutical Technology (Shanghai) Co., Ltd., has made significant progress in its licensing collaboration with Merck for LM-299/MK-2010, a PD-1/VEGF dual antibody [1] - The company is set to receive a $300 million milestone payment for technology transfer in the near future [1] Group 1 - Merck disclosed during its Q2 earnings call that the technology transfer for LM-299 was completed in July and the $300 million milestone payment is expected to be recognized in Q3 [1] - During the Q&A session of the earnings call, Merck confirmed that the LM-299 project is progressing as planned [1] Group 2 - In 2024, Lixin Pharmaceutical and Merck reached a global exclusive licensing agreement for LM-299 [1] - According to the agreement terms, Merck will receive exclusive rights for global development, production, and commercialization of LM-299, while Lixin Pharmaceutical will receive an upfront payment of $588 million and up to $2.7 billion in milestone payments [1]

Group 1 - The core point of the article is that China National Pharmaceutical Group's subsidiary, Lixin Pharmaceutical, has reached a global exclusive licensing agreement with Merck for LM-299, which includes significant financial terms [2] - Under the agreement, Merck will receive exclusive rights for the global development, production, and commercialization of LM-299 [2] - Lixin Pharmaceutical will receive an upfront payment of $588 million, along with potential milestone payments that could total up to $2.7 billion [2]

Group 1 - The core point of the article is that China Biologic Products (01177.HK) is set to receive a milestone payment of $300 million related to the technology transfer of LM-299, a PD-1/VEGF dual antibody, from Merck [1] - The technology transfer for LM-299 was completed in July 2023, and the payment is expected to be confirmed in the third quarter of 2023 [1] - Merck has indicated that the LM-299 project is progressing as planned, as stated during their second-quarter earnings call [1]

Group 1 - The core point of the article is that China Biologic Products Holdings (01177.HK) announced a successful progress in the licensing cooperation with Merck regarding the LM-299/MK-2010 "PD-1/VEGF dual antibody" [1] - The company is expected to receive a milestone payment of $300 million for technology transfer in the near future [1] - Merck disclosed during its Q2 earnings call that the technology transfer for LM-299 was completed in July and the milestone payment will be confirmed in Q3 [1] Group 2 - In 2024, the company reached a global exclusive licensing agreement with Merck for LM-299, where Merck will receive exclusive rights for global development, production, and commercialization [1] - According to the agreement terms, the company will receive an upfront payment of $588 million and up to $2.7 billion in milestone payments [1]

（於開曼群島註冊成立之有限公司） 網站：www.sinobiopharm.com （股份編號：1177） 自願公告 LM-299對外授權合作順利， 3億美元里程碑將於近期收款 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。 1 謝其潤 香港，二零二五年七月三十日 於本公告日期，本公司董事會包括六位執行董事，即謝其潤女士、謝炳先生、鄭翔玲女士、謝承潤 先生、謝炘先生及田舟山先生，以及五位獨立非執行董事，即陸正飛先生、李大魁先生、魯紅女 士、張魯夫先生及李國棟醫生。 2 關於LM-299對外授權合作 2024年，禮新醫藥與默沙東就LM-299達成全球獨家授權協議。根據協議條款，默沙東將獲得LM- 299的全球開發、生產和商業化獨家許可。禮新醫藥將獲得5.88億美元的首付款，以及最高27億美元 的里程碑付款。 承董事會命 中國生物製藥有限公司 主席 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，本集團全 資附屬公 ...