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9月30日 狀態: 重新提交 致：香港交易及結算所有限公司 公司名稱: 北海康成製藥有限公司（於開曼群島註冊成立之有限公司） 呈交日期: 2025年10月14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) | 01228 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00001 USD | | | 50,000 | | 增加 / 減少 (-) | | | | | | USD | | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00001 USD | | | 50 ...

FF301 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9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: 北海康成製藥有限公司（於開曼群島註冊成立之有限公司） 呈交日期: 2025年10月8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) | 01228 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00001 USD | | 50,000 | | 增加 / 減少 (-) | | | | | | USD | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00001 USD | | 50,000 | 本月底法定/註 ...

CANbridge Pharmaceuticals Inc. 北海康成製藥有限公司 （於開曼群島註冊成立的有限公司） （Incorporated in the Cayman Islands with limited liability） 股份代號 Stock Code : 1228 2025 中期報告 目錄 | 2 | 釋義 | | --- | --- | | 5 | 公司資料 | | 7 | 業務摘要 | | 9 | 財務摘要 | | 10 | 管理層討論及分析 | | 25 | 其他資料 | | 47 | 獨立審閱報告 | | 49 | 中期簡明綜合損益及其他全面收益表 | | 50 | 中期簡明綜合財務狀況表 | | 52 | 中期簡明綜合權益變動表 | | 53 | 中期簡明綜合現金流量表 | | 55 | 中期簡明綜合財務報表附註 | 釋義 在本報告內，除文義另有所指外，以下詞彙具有下列涵義。該等詞彙及其定義未必與任何業內標準定義相符，亦未必可直 接與其他在本公司相同行業內經營的公司所採用的同類詞彙比較。 2025年中期報告 02 「聯繫人」 指 具有上市規則所賦予的涵義 「審核委員會」 指 董事會 ...

格隆汇9月28日丨北海康成-B(01228.HK)公布，认购协议所载条件已获达成，有关认购事项的交割已于 2025年9月26日根据认购协议的条款及条件落实。公司于交割日期按该公告所载比例，以每股认购股份 2.26港元的认购价向认购人配发及发行合共999.6万股认购股份。认购事项产生的所得款项总额为 2259.14万港元。 ...

智通财经APP讯，北海康成-B(01228)发布公告，认购协议所载条件已获达成，有关认购事项的交割已于 2025年9月26日根据认购协议的条款及条件落实。公司于交割日期按该公告所载比例，以每股认购股份 2.26港元的认购价向认购人配发及发行合共999.6万股认购股份。认购事项产生的所得款项总额为 2259.14万港元。 ...

北海康成-B(01228)发布公告，认购协议所载条件已获达成，有关认购事项的交割已于2025年9月26日根 据认购协议的条款及条件落实。公司于交割日期按该公告所载比例，以每股认购股份2.26港元的认购价 向认购人配发及发行合共999.6万股认购股份。认购事项产生的所得款项总额为2259.14万港元。 ...

北海康成製藥有限公司 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之內容概不負責，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分內容而產生或因依賴該等內 容而引致的任何損失承擔任何責任。 本公告或其任何副本概不得直接或間接於美國境內或有關刊發或派發屬違法的任何其他司法權區刊 發或派發。本公告僅作參考用途，並不構成收購、購買或認購本公司任何證券之邀請或要約。 本公告並不構成或組成於美國境內或有關發售屬違法的任何其他司法權區出售證券的任何要約或 招攬購買或認購證券的一部分。本公告所述本公司股份並無亦不會根據1933年美國證券法（經修訂） （「美國證券法」）登記，且不得於美國境內提呈發售或出售，惟根據美國證券法登記規定進行登記者 或獲豁免遵守該等登記規定者除外。本公司無意根據美國證券法登記本公告內所指之任何證券，或 在美國境內進行證券公開發售。 CANbridge Pharmaceuticals Inc. （於開曼群島註冊成立的有限公司） （股份代號：1228） 完成根據一般授權認購新股份 誠如該公告所載，認購人C為若干基金及獨立管理賬戶的全權投資管理人。其主要從事全球資 ...

Core Viewpoint - The Hong Kong pharmaceutical sector has experienced a significant surge in stock prices, with many companies seeing increases of over 600%, yet most of these companies remain unprofitable, raising questions about whether this is a genuine market correction or speculative trading [1][3][11]. Group 1: Market Performance - In the period from July 1 to September 18, 2018, 201 out of 264 pharmaceutical companies listed in Hong Kong saw their stock prices rise, with 69 companies increasing by over 50% and 21 companies doubling their stock prices [3]. - Notable stock performances include New Wave Pharma (06108.HK) with a 928.71% increase, Beihai Kangcheng-B (01228.HK) at 802.70%, and Clover Biopharma-B (02197.HK) at 629.77% [4]. Group 2: Individual Company Analysis - Yaojie Ankang-B (02617.HK) saw its stock price soar from an IPO price of 13.15 HKD to a peak of 679.5 HKD, before experiencing a dramatic drop to 165.1 HKD, resulting in a market capitalization decline from nearly 270 billion HKD to 65.5 billion HKD [1][5]. - Beihai Kangcheng reported a revenue of 0.92 million HKD for 2024, a decrease of 17.27%, with a net loss of 478 million HKD [7]. - Clover Biopharma reported a revenue of 41.49 million HKD for 2024, a decrease of 2.13%, and a net loss of 976 million HKD, which is an increase of 550% year-on-year [9]. Group 3: Investment Strategies - Investors have adopted various strategies, with some achieving high returns through direct investments in innovative drugs, while others prefer ETFs for a more stable approach [10]. - One investor reported a 110% return on an ETF investment in innovative drugs, while another faced a 30% loss after investing heavily in Yaojie Ankang [10]. Group 4: Market Dynamics - The surge in the Hong Kong pharmaceutical sector is attributed to its inherent characteristics, such as high speculative value and event-driven dynamics, which attract short-term capital [11][12]. - The market's structure, including a lack of price limits and low liquidity, facilitates significant price volatility, making it easier for small amounts of capital to influence stock prices [25][19]. Group 5: Regulatory Considerations - Experts suggest that the index inclusion rules should be optimized to focus more on a company's fundamentals and liquidity, reducing the likelihood of stocks being manipulated [28]. - The current index inclusion criteria heavily rely on quantitative metrics, often overlooking the underlying business stability and profitability of companies [26].

Core Viewpoint - The innovative drug sector in Hong Kong has become a market focus again, with significant stock price increases following a prolonged period of adjustment and low valuations [2][3]. Group 1: Market Performance - Beihai Kangcheng-B (01228.HK) has surged nearly 19 times, while other companies like Deqi Pharmaceutical-B (06996.HK) and Hengrui Medicine (01276.HK) have also shown impressive gains, with some stocks increasing over four times [2]. - The overall profitability of the Hong Kong innovative drug sector has significantly improved in 2025, with many companies reporting substantial increases in net profit [6][7]. Group 2: Policy Support - The Chinese government has included "innovative drugs" in key emerging industries, with policies introduced to support the development of innovative drugs, including price management and financing [3]. - In June 2025, the National Healthcare Security Administration and the National Health Commission launched measures to support the high-quality development of innovative drugs, providing robust policy backing [3]. Group 3: Company Performance - Hengrui Medicine reported a 29.67% increase in net profit to 4.45 billion RMB in the first half of the year, achieving record highs in revenue and profit [4]. - Baijie Shenzhou's net profit increased by 115.63% to 450 million RMB, marking its first half-year profit, primarily due to the strong performance of its core product [5]. Group 4: Financing Trends - Many innovative drug companies are launching placement financing plans to raise funds for ongoing research and daily operations, driven by improved stock prices [8][10]. - As of 2025, nearly 60 companies in the Hong Kong medical and biopharmaceutical sectors have announced placement financing plans, with innovative drug companies being the main contributors [8]. Group 5: Future Outlook - The innovative drug sector is expected to continue its rapid development, supported by favorable external conditions and ongoing policy support [12][14]. - The recent interest rate cuts by the Federal Reserve may facilitate easier financing for innovative drug companies, which is crucial for those yet to achieve commercialization [13].

北海康成-B(01228)午前涨超8%，截至发稿，涨8.16%，报3.05港元，成交额2058.77万港元。 消息面上，北海康成-B发布公告，于2025年9月15日，公司拟向3名认购人(覃深、黄晓婷、雾凇资本有 限公司)发行合共999.62万股认购股份。每股认购股份2.26港元的认购价，较9月15日收市价每股2.82港 元折让约19.86%。 公告称，认购事项所得款项总额将为2259.14万港元，所得款项净额估计约为2209.14万港元。公司拟将 认购事项所得款项净额用于现有产品线的研发开支；及集团日常营运。 ...