Core Viewpoint - The healthcare stocks in mainland China have experienced a significant pullback since early last month, with the Hang Seng Healthcare Index and the CSI 300 Healthcare Index declining by 12% and 9% respectively, compared to a 2% drop in the Hang Seng Index and a 1% increase in the CSI 300 Index [1] Group 1: Market Influences - The decline in healthcare stocks is attributed to multiple factors, including heightened US-China tensions and increased geopolitical risk premiums prompting profit-taking by investors [1] - The introduction of a milder version of the US "Biosecurity Act" attached to next year's National Defense Authorization Act has raised uncertainties regarding pharmaceutical outsourcing services [1] - Concerns persist regarding potential increased regulation from the US, such as restrictions on authorized transactions with China or limitations on clinical data from China, which could impact the biotech and pharmaceutical sectors [1] Group 2: Market Sentiment and Valuation - The anticipated outcomes of the national medical insurance drug list price negotiations and the legislative progress of the "Biosecurity Act" are expected to influence market sentiment [1] - Despite the recent stock price declines, industry valuations and market expectations for business development transactions are returning to more reasonable levels, with no substantial deterioration in the industry's fundamental performance observed [1] - The recent pullback in stock prices may provide favorable conditions for performance in the upcoming year [1] Group 3: Preferred Stocks - The company identifies preferred stocks including CanSino Biologics (09926), Hansoh Pharmaceutical (03692), and WuXi AppTec (603259) (02359) [1] - The company also expresses optimism for Innovent Biologics (01801) and Heng Rui Medicine (600276) (01276) [1]

格隆汇11月4日丨根据联交所最新权益披露资料显示，2025年10月30日，恒瑞医药(01276.HK)获Wellington Management Group LLP在场内以每股均价73.65港 元增持101.22万股，涉资约7455.08万港元。 增持后，Wellington Management Group LLP最新持股数目为16,282,567股，持股比例由5.91%上升至6.31%。 | 股份代號: | 01276 | | --- | --- | | 上市法國名稱: | 江蘇恒瑞醫藥股份有限公司 - H股 | | 日期 (日 / 月 / 年): | 04/10/2025 - 04/11/2025 | | 表格序號 | 大股東/董事/最高行政人員名稱作出披露的 買入 / 賣出或涉及的 每股的平均價 | | | | | 持有權益的股份數目 佔已發行的 有關事件的日期 | | --- | --- | --- | --- | --- | --- | --- | | | | | 设计算 | | | ( 語參與 有投票權股 (日 / 月 / 年) | | | | | | | | 178 - 177 11 | | ...

| 股份代號: | 01276 | | --- | --- | | 上市法國名稱: | 江蘇恒瑞醫藥股份有限公司 - H股 | | 日期 (日 / 月 / 年): | 04/10/2025 - 04/11/2025 | 格隆汇11月4日丨根据联交所最新权益披露资料显示，2025年10月30日，恒瑞医药(01276.HK)获GIC Private Limited在场内以每股均价73.4253港元增持43万 股，涉资约3157.29万港元。 增持后，GIC Private Limited最新持股数目为5442.26万股，持股比例由20.91%上升至21.08%。 | 表格序號 | 大股東/董事/最高行政人員名稱作出披露的 買入 / 賣出或涉及的 每股的平均價 | | | | | 持有權益的股份數目 佔已發行的 有關事件的日期 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 原因 | 股份數目 | | | ( 請參閱上述 * 註 | | | | | | | | | 份百分比 | | | | | | | | | 96 | | | CS202511 ...

Major Events - Xiaoma Zhixing-W (02026) has set the share price for its offering at HKD 139 [1] - Boleton (01333) has entered into a strategic cooperation with Fujian Rixin, focusing on autonomous driving for mining transportation [1] - Zhaojin Mining (01818) has signed a strategic cooperation memorandum with Ant Group [1] - Yimai Sunshine (02522) subsidiary has signed a data co-construction cooperation agreement with Beijing Xianxing District and Beijing Computing Power [1] - Yaojie Ankang-B (02617) has reached a project cooperation agreement with Neurocrine [1] - Heng Rui Pharmaceutical (01276) plans to include HRS-5965 capsules in the priority review process [1] Financial Data - XPeng Motors-W (09868) delivered 42,013 smart electric vehicles in October, a year-on-year increase of 76%, setting a new monthly delivery record [1] - Fuwai Group (01828) reported a sales revenue of USD 1.935 billion for the first three quarters, a year-on-year increase of 37% [1] - Shenzhen Holdings (00604) recorded total contract sales of approximately CNY 9.838 billion for the first three quarters, a year-on-year increase of 24% [1] - Weigao Group (01066) reported third-quarter revenue of approximately CNY 3.26 billion, a year-on-year growth of about 2.6% [1]

Core Viewpoint - 恒瑞医药's subsidiary, 成都盛迪医药, has had its HRS-5965 capsule proposed for inclusion in the priority review list by the National Medical Products Administration, indicating a significant step in the drug's development process [1] Group 1: Product Development - HRS-5965 is a complement factor B inhibitor designed to treat Paroxysmal Nocturnal Hemoglobinuria (PNH), a rare acquired hemolytic disease characterized by the deficiency of CD55 and CD59, leading to complement-mediated intravascular hemolysis [1] - The drug aims to inhibit complement-mediated hemolytic reactions and improve hemoglobin levels in patients [1] Group 2: Market Context - PNH has a low incidence/prevalence and is included in the national list of rare diseases, highlighting the potential market for treatments in this area [1] - Currently, the only drug targeting the same mechanism is Novartis's Iptacopan (Fabhalta), which is projected to generate global sales of approximately $129 million in 2024 according to EvaluatePharma [1] Group 3: R&D Investment - The cumulative research and development investment for HRS-5965 has reached approximately 209.94 million yuan [1]

Core Viewpoint - The company has received approval from the National Medical Products Administration for clinical trials of Rivoceranib tablets, a second-generation AR inhibitor, which is expected to enhance its market position in the treatment of metastatic hormone-sensitive prostate cancer [1] Group 1: Product Development - Rivoceranib tablets are a second-generation AR inhibitor that offers stronger AR inhibition without agonistic effects compared to first-generation inhibitors [1] - The product was approved for market launch in 2022 for treating patients with high tumor burden metastatic hormone-sensitive prostate cancer (mHSPC) [1] Group 2: Market Context - Rivoceranib tablets are entering a competitive market with other second-generation AR inhibitors such as Enzalutamide, Apalutamide, and Darolutamide already available [1] - According to EvaluatePharma, the global sales for similar products are projected to reach approximately $11.037 billion in 2024 [1] Group 3: Investment and R&D - The cumulative R&D investment for Rivoceranib tablets has reached approximately 693.09 million yuan [1]

Core Viewpoint - Heng Rui Medicine's subsidiary Chengdu Shengdi Pharmaceutical's HRS-5965 capsules have been proposed for inclusion in the priority review list by the National Medical Products Administration [1] Group 1: Product Information - HRS-5965 capsules are a complement factor B inhibitor designed to suppress complement-mediated hemolytic reactions and improve hemoglobin levels [1] - The target indication is Paroxysmal Nocturnal Hemoglobinuria (PNH), a rare acquired hemolytic disease characterized by the lack of CD55 and CD59, leading to complement-mediated intravascular hemolysis [1] Group 2: Market Context - PNH has been included in the national list of rare diseases due to its low incidence/prevalence [1] - Currently, the only drug approved for this indication is Novartis' Iptacopan (Fabhalta®), which is projected to have a global sales revenue of approximately $129 million in 2024 according to EvaluatePharma [1] Group 3: R&D Investment - The cumulative R&D investment for the HRS-5965 project has reached approximately 209.94 million yuan [1]

Core Viewpoint - Heng Rui Medicine has received approval from the National Medical Products Administration for clinical trials of Rivolumab tablets, a second-generation AR inhibitor, which is expected to enhance its market position in the treatment of metastatic hormone-sensitive prostate cancer [1] Company Summary - Rivolumab tablets are a second-generation AR inhibitor that offers stronger AR inhibition without agonistic effects compared to first-generation inhibitors [1] - The product was approved for market launch in 2022 for treating patients with high tumor burden metastatic hormone-sensitive prostate cancer (mHSPC) [1] - Cumulative R&D investment in Rivolumab tablets has reached approximately 693 million yuan [1] Industry Summary - The global sales of similar second-generation AR inhibitors, including Enzalutamide, Apalutamide, and Darolutamide, are projected to total approximately 11.037 billion USD in 2024 [1]

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。 中國上海 2025年11月3日 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。 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 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。 受 理 号：CXHL2500815 审批结论：根据《中华人民共和国药品管 ...

Core Viewpoint - Chengdu Shengdi Pharmaceutical, a subsidiary of Hengrui Medicine, has announced that its HRS-5965 capsules are proposed to be included in the priority review list by the National Medical Products Administration (NMPA) of China, indicating a significant step towards potential market approval for a treatment targeting paroxysmal nocturnal hemoglobinuria in adults who have not previously received complement inhibitors [1] Drug Information - Drug Name: HRS-5965 Capsules [1] - Dosage Form: Capsule [1] - Applicant: Chengdu Shengdi Pharmaceutical Co., Ltd. [1] - Proposed Indication: Treatment for adult patients with paroxysmal nocturnal hemoglobinuria who have not previously received complement inhibitor therapy [1] Priority Review Justification - The application meets the requirements outlined in the "Drug Registration Management Measures" and the announcement regarding the "Review Procedures for Breakthrough Therapy Drugs" issued by the NMPA [1] - The drug is categorized under priority review for "clinically urgent shortage drugs, innovative drugs, and modified new drugs for the prevention and treatment of major infectious diseases and rare diseases" [1]