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分內容所產生或因依賴 該等內容而引致的任何損失承擔任何責任。 Jiangsu Hengrui Pharmaceuticals Co., Ltd. 江蘇恒瑞醫藥股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1276） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 根據中華人民共和國的有關法例規定，江蘇恒瑞醫藥股份有限公司（「本公司」）在 上海證券交易所網站( www.sse.com.cn )刊發了以下公告。茲載列如下，僅供參閱。 於本公告日期，董事會成員包括(i)執行董事孫飄揚先生、戴洪斌先生、馮佶女 士、張連山先生、江寧軍先生及孫杰平先生；(ii)非執行董事郭叢照女士；及(iii) 獨立非執行董事董家鴻先生、曾慶生先生、孫金雲先生及周紀恩先生。 承董事會命 江蘇恒瑞醫藥股份有限公司 董事長 孫飄揚先生 中國上海 2025年9月23日 证券代码：600276 证券简称：恒瑞医药 公告编号：临 2025-15 ...

Core Viewpoint - The report highlights the AH premium rates of various companies, indicating significant discrepancies between their A-shares and H-shares, with Northeast Electric (00042) leading with a premium rate of 864.29% [1] AH Premium Rate Rankings - The top three companies with the highest AH premium rates are: - Northeast Electric (00042): 864.29% - Andeli Juice (02218): 227.40% - Hongye Futures (03678): 225.67% [1] - The bottom three companies with the lowest AH premium rates are: - Ningde Times (03750): -12.07% - Heng Rui Medicine (01276): -3.97% - Zijin Mining (02899): 4.14% [1] Deviation Value Rankings - The top three companies with the highest deviation values are: - Northeast Electric (00042): 74.37% - Changfei Optical Fiber (06869): 24.77% - Zhaoyan New Drug (06127): 22.94% [1] - The bottom three companies with the lowest deviation values are: - Longpan Technology (02465): -25.07% - Qin Port Shares (03369): -19.33% - COSCO Shipping Energy (01138): -15.04% [1] Detailed AH Stock Premium and Deviation Data - The report provides detailed tables showing the premium rates and deviation values for the top and bottom AH stocks, indicating significant variations in market perception and valuation between A-shares and H-shares [1][2]

Major Events - Different Group (06090) has a public offering with a subscription rate of 3317.47 times the upper limit price [1] - Botai Che Lian (02889) plans to globally offer 10.4369 million H-shares from September 22 to September 25 [1] - Changhong Jiahua (03991) received a privatization offer from Changhong Group at a premium of approximately 32.93%, with resumption of trading on September 23 [1] - Huajian Medical (01931) signed a strategic cooperation agreement with Chuangsheng Group-B (06628) involving the tokenization of a $1.5 billion innovative drug pipeline asset [1] - Gilead Sciences-B (01672) reported that ASC47 combined with Semaglutide showed a weight loss effect improvement of up to 56.2% compared to Semaglutide alone in obese subjects [1] - Fosen Pharmaceutical (01652) plans to sell all equity of Henan Fosen Smart Energy Technology for 73 million yuan [1] - Maiyue Technology (02501) entered into strategic cooperation agreements with NetEase Youdao and Ferry International [1] - Zhongchuang Zhiling (00564) intends to invest 270 million yuan to establish Yaxinke Thermal Management Technology (Yizheng) Co., Ltd. to enhance market competitiveness in automotive thermal management systems [1] - Garmin Group Holdings (01271) plans to sell a portfolio of four data center projects for 5.25 billion HKD [1] Buybacks and Increases - Tencent Holdings (00700) repurchased 862,000 shares for 550 million HKD on September 22 [1] - Standard Chartered Group (02888) repurchased 517,100 shares for 7.3877 million GBP on September 19 [1] - Midea Group (00300) repurchased 3.415 million A-shares for 250 million yuan on September 22 [1] - Anta Sports (02020) repurchased 2.12 million shares for 199 million HKD on September 22 [1] - Kuaishou-W (01024) repurchased 1 million shares for 73.7998 million HKD on September 22 [1] - Heng Rui Pharmaceutical (01276) repurchased 656,000 A-shares for 45.7493 million yuan on September 19 [1] - Shenzhen Expressway Company (00548) received an increase of 25.38 million H-shares from shareholder Yunsong Capital [1]

Core Insights - The article highlights the top and bottom AH premium rates for various stocks as of September 22, with Northeast Electric (00042) leading at 831.03% and CATL (03750) at -13.26% [1][2]. AH Premium Rate Rankings - The top three stocks with the highest AH premium rates are: - Northeast Electric (00042): H-share at 0.290 HKD, A-share at 2.25 CNY, premium rate of 831.03%, deviation value of 43.11% [1]. - Andeli Juice (02218): H-share at 16.540 HKD, A-share at 45.25 CNY, premium rate of 227.69%, deviation value of -1.28% [1]. - Hongye Futures (03678): H-share at 4.200 HKD, A-share at 11.38 CNY, premium rate of 224.52%, deviation value of -11.54% [1]. - The bottom three stocks with the lowest AH premium rates are: - CATL (03750): H-share at 511.000 HKD, A-share at 370.05 CNY, premium rate of -13.26%, deviation value of 1.89% [1]. - Heng Rui Medicine (01276): H-share at 90.000 HKD, A-share at 71.05 CNY, premium rate of -5.44%, deviation value of -4.32% [1]. - Zijin Mining (02899): H-share at 29.540 HKD, A-share at 25.37 CNY, premium rate of 2.88%, deviation value of -3.50% [1]. Deviation Value Rankings - The top three stocks with the highest deviation values are: - Northeast Electric (00042): premium rate of 831.03%, deviation value of 43.11% [2]. - Changfei Optical Fiber (06869): premium rate of 130.35%, deviation value of 26.09% [2]. - China Foreign Transportation (00598): premium rate of 67.13%, deviation value of 18.35% [2]. - The bottom three stocks with the lowest deviation values are: - Longpan Technology (02465): premium rate of 61.72%, deviation value of -25.04% [3]. - Qin Port Co. (03369): premium rate of 53.16%, deviation value of -21.72% [3]. - Longyuan Power (00916): premium rate of 163.85%, deviation value of -19.33% [3].

Group 1 - The pharmaceutical stocks have generally risen, with notable increases in companies such as WuXi AppTec (6.82% increase), Innovent Biologics (5.72% increase), and WuXi Biologics (3.86% increase) [1] - The National Healthcare Security Administration has released the 11th batch of centralized procurement documents for drugs, emphasizing principles such as "stabilizing clinical use, ensuring quality, preventing collusion, and countering internal competition" [1] - The optimization of price control benchmarks in the procurement process indicates a shift away from simply selecting the lowest bid, reflecting a proactive approach by the healthcare authority to improve the domestic market [1] Group 2 - Guojin Securities expresses strong confidence in a reversal trend for the pharmaceutical sector in 2025, highlighting innovative drugs and the recovery of left-behind sectors as significant investment opportunities [2] - The upward trend in the innovative drug industry remains intact, with multinational corporations facing patent cliffs and likely to continue using business development strategies to fill revenue gaps [2] - Dongwu Securities notes that the easing interest rate environment is expected to enhance the prosperity of the innovative industry chain, benefiting upstream biotech and CXO sectors [2]

每经AI快讯，9月22日，港股医药股多数上扬。截至发稿，药明合联(02268.HK)涨6.82%，报75.2港元； 诺诚健华(09969.HK)涨5.72%，报17.38港元；药明生物(02269.HK)涨3.86%，报39.24港元；歌礼制药- B(01672.HK)涨3.09%，报11.01港元；恒瑞医药(01276.HK)涨2.74%，报90港元。 ...

智通财经APP讯，恒瑞医药(01276)发布公告，于2025年9月19日斥资4574.93万元(人民币，下同)回购A 股股份65.6万股，每股回购价格为69.59-69.93元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 江蘇恒瑞醫藥股份有限公司 呈交日期： 2025年9月22日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | 600276 | 說明 | A股（於上海證券交易所上市） | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | 佔有關事件 ...

Core Insights - The article highlights the top and bottom AH premium rates for various stocks, indicating significant disparities in market valuations between A-shares and H-shares [1][2][3] Group 1: Top AH Premium Rates - Northeast Electric (00042) leads with an AH premium rate of 831.03%, followed by Hongye Futures (03678) at 230.41% and Andeli Juice (02218) at 228.12% [1] - The top three stocks with the highest deviation values are Northeast Electric (45.11%), Changfei Optical Fiber (31.64%), and Zhaoyan Pharmaceutical (23.42%) [1][3] Group 2: Bottom AH Premium Rates - The stocks with the lowest AH premium rates include Ningde Times (03750) at -14.38%, followed by Heng Rui Pharmaceutical (01276) at -3.45% and Zijin Mining (02899) at 3.06% [2] - The bottom three stocks with the lowest deviation values are Longpan Technology (-21.76%), Fudan Zhangjiang (-20.80%), and COSCO Shipping Energy (-19.62%) [2][5] Group 3: Additional Insights - The top ten AH stocks by premium rates show a significant range, with the lowest premium rates indicating potential undervaluation in the market [1][2] - The deviation values provide insight into how current premium rates compare to historical averages, suggesting potential investment opportunities or risks [3][5]

Major Events - Jinfang Pharmaceutical-B (02595) received a subscription rate of 2662.79 times for its public offering in Hong Kong, raising approximately HKD 1.67 billion from the global offering [1] - Heng Rui Pharmaceutical (01276) announced that its SHR-1501 injection has been included in the list of proposed breakthrough therapy products [1] - Shanghai Pharmaceuticals (02607) successfully passed the consistency evaluation for the generic drug Nicorandil tablets [1] - Qutech Technology (01478) plans to sell 51.08% of its stake in India for INR 5.53 billion [1] - Boleton (01333) signed a procurement contract for energy storage system equipment with Guoxia Technology [1] - Hongye Futures (03678) shareholders Suhao Huihong and Hongye Logistics collectively reduced their holdings by 5.9482 million shares [1] - Shangu Holdings (00412) responded to concerns about concentrated shareholding, stating that the company can comply with public shareholding regulations [1] - Changfei Optical Fiber and Cable (06869) experienced unusual stock price fluctuations, with its hollow core fiber business not yet significantly impacting financial data [1] - Sanhua Intelligent Control (02050) reported abnormal trading fluctuations in A-shares, confirming no undisclosed significant matters or ongoing major planning [1] Operating Performance - China Pacific Insurance (02601) reported that its life insurance premium income for the first eight months reached CNY 217.05 billion, a year-on-year increase of 13.2% [1] - Datang Renewable (01798) completed a power generation volume of 2.1691 million MWh in August, representing a year-on-year increase of 27.5% [1]