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 FF305 確認 根據《主板上市規則》第13.25C條 / 《GEM上市規則》第17.27C條，我們在此確認，據我們所知所信，第一章節所述的每項股份發行或庫存股份出售或轉讓已獲發行人董事會正式授權批准，並遵 照所有適用上市規則、法律及其他監管規定進行，並在適用的情況下： (註7) 公司名稱： 江蘇恒瑞醫藥股份有限公司 呈交日期： 2025年10月14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 ...

Core Insights - The article highlights the top and bottom AH premium rates for various stocks as of October 14, with Northeast Electric (00042) leading with a premium rate of 770.97% [1] - The article also discusses the deviation values of these stocks, indicating significant discrepancies between their A-shares and H-shares [1] Summary by Category Top AH Premium Rates - Northeast Electric (00042) has the highest premium rate at 770.97%, followed by Hongye Futures (03678) at 244.85% and Zhejiang Shibao (01057) at 235.03% [1] - Other notable mentions include Sinopec Oilfield Service (01033) with a premium rate of 231.58% and Andeli Juice (02218) at 231.48% [1] Bottom AH Premium Rates - The stocks with the lowest AH premium rates include Ningde Times (03750) at -19.47%, followed by Hengrui Medicine (01276) at -0.26% and China Merchants Bank (03968) at 2.62% [1] - Other companies with low premium rates include Midea Group (00300) at 8.84% and Fuyao Glass (03606) at 14.22% [1] Top Deviation Values - The stocks with the highest deviation values include Jinli Permanent Magnet (06680) at 29.10%, Nanjing Panda Electronics (00553) at 24.56%, and Dazhong Public Utilities (01635) at 22.28% [1] - Other companies with significant deviation values are Zhejiang Shibao (01057) at 17.07% and Fudan Zhangjiang (01349) at 16.81% [1] Bottom Deviation Values - Northeast Electric (00042) has the lowest deviation value at -41.76%, followed by Shanghai Electric (02727) at -9.05% and China National Foreign Trade (00598) at -8.58% [1] - Other companies with low deviation values include COSCO Shipping Energy (01138) at -7.53% and Ningde Times (03750) at -6.00% [2]

智通财经APP获悉，大和发布研报称，首次覆盖恒瑞医药(01276)H股予"持有"评级，目标价86港元。该 行指，恒瑞医药的创新药授权在行业中较为领先，因集团拥有商业化的创新药组合，研发管线中有超过 90种新分子实体，并正在发展业务拓展(BD);该行预期2025至27年的授权收入分别达41亿、29亿及10亿 元人民币。该行看好其基本面，催化剂包括国内的创新药销售增长、药物数据释出、BD交易及获授权 项目的海外进展。 ...

Company News - Yuanshan Group (00551.HK) reported a cumulative operating income of approximately $6.017 billion for the first nine months, a decrease of 1% year-on-year [2] - Baoshan International (03813.HK) recorded a cumulative operating income of 12.903 billion yuan for the first nine months, down 7.7% year-on-year [2] - Longyuan Power (00916.HK) achieved a cumulative power generation of 56,546,706 MWh in the first nine months, a decline of 0.53% year-on-year; excluding the impact of thermal power, there was a year-on-year increase of 13.81%, with wind power up 5.30% and solar power up 77.98% [2] Financial Performance - Qinhuangdao Port Co., Ltd. (03369.HK) reported a total throughput of 317 million tons for the first nine months, an increase of 5.56% year-on-year [3] - New China Life Insurance (01336.HK) expects net profit attributable to shareholders for the first three quarters to be between 29.986 billion yuan and 34.122 billion yuan, representing a year-on-year growth of 45% to 65% [3] - Jiangshan Holdings (00295.HK) reported a total power generation of approximately 238,787 MWh for the first nine months, a decrease of 4.83% year-on-year [3] - Morning News Technology (02000.HK) reported an unaudited revenue of 270 million HKD for the first nine months, down 7.6% year-on-year [3] - Dekang Agriculture and Animal Husbandry (02419.HK) sold approximately 7.5509 million pigs in the first nine months, with sales revenue of approximately 14.277 billion yuan [3] Drug Approvals and Developments - Hengrui Medicine (01276.HK) received a clinical trial approval notice for SHR-A2102, a targeted Nectin-4 antibody-drug conjugate (ADC) developed in-house; global sales for similar products are expected to reach approximately $1.949 billion in 2024 according to EvaluatePharma [3] - Hutchison China MediTech (00013.HK) plans to announce FRUSICA-2 registration study data at the 2025 European Society for Medical Oncology annual meeting [3] - CSPC Pharmaceutical Group (01093.HK) had its new drug application for Idaglutide α injection accepted by the National Medical Products Administration [3] Corporate Actions - Huazhen Medical (01931.HK) announced the acquisition of U.S. properties and the establishment of a U.S. subsidiary, ETHK BANK, to promote stablecoins and intellectual property securitization in the U.S. [3] - Lihigh Holdings (08472.HK) plans to invest 24 million HKD in cryptocurrency and commodities [3] - Hisense Home Appliances (00921.HK) and its subsidiaries subscribed to a financial product from Jingu Trust worth 1.739 billion HKD [3] Real Estate Performance - New Town Development (01030.HK) reported cumulative contract sales of 15.050 billion yuan for the first nine months, a decrease of 52.72% year-on-year [3] - Longfor Group (00960.HK) achieved total contract sales of 50.75 billion yuan in the first nine months [3] - CIFI Holdings Group (00884.HK) reported cumulative contract sales of approximately 13.06 billion yuan for the first nine months [3] - Ronshine China Holdings (03301.HK) reported contract sales of 3 billion yuan for the first nine months, down 45.3% year-on-year [3] - Yuzhou Group (01628.HK) reported cumulative sales of 4.913 billion yuan for the first nine months [3] - Yida China (03639.HK) reported contract sales of approximately 572 million yuan for the first nine months, down 24.74% year-on-year [3] Financing and Buyback Activities - Geely Automobile (00175.HK) was approved to issue debt financing instruments totaling no more than 10 billion yuan [3] - HSBC Holdings (00005.HK) repurchased 1.58 million HKD worth of shares at prices ranging from 102.2 to 103.77 HKD [3] - Xiaomi Group-W (01810.HK) repurchased 400 million HKD worth of shares at prices ranging from 47.82 to 50.55 HKD [3] - Shoucheng Holdings (00697.HK) repurchased 890 million HKD worth of shares at prices ranging from 2.21 to 2.27 HKD [3]

Core Viewpoint - Heng Rui Medicine (01276) has received approval from the National Medical Products Administration for clinical trials of SHR-A2102, a targeted antibody-drug conjugate (ADC) [1] Group 1: Product Development - SHR-A2102 is a self-developed ADC targeting Nectin-4, with a payload of topoisomerase I inhibitor (TOP1i) [1] - Nectin-4 is highly expressed in tumors, correlating with tumor progression and poor prognosis [1] Group 2: Market Context - Currently, there is one similar product approved globally, Enfortumab vedotin (brand name: Padcev), with projected global sales of approximately $1.949 billion in 2024 [1] - The cumulative R&D investment for SHR-A2102 has reached approximately 225 million yuan [1]

Core Viewpoint - Recently, the company announced that its subsidiaries received approval from the National Medical Products Administration for clinical trials of three drug candidates, indicating progress in its oncology pipeline [1][2][3] Group 1: Drug Candidates - SHR-A2102 is a targeted antibody-drug conjugate (ADC) developed by the company, which targets Nectin-4 and has a payload of a topoisomerase I inhibitor. It is noted that Nectin-4 is highly expressed in tumors, correlating with tumor progression and poor prognosis. Currently, there is one similar product approved globally, Enfortumab vedotin, with projected global sales of approximately $1.949 billion in 2024. The cumulative R&D investment for SHR-A2102 is about 225 million yuan [1] - SHR-1802 is a humanized monoclonal antibody developed by the company that activates and promotes anti-tumor T cell responses. There are currently no similar products approved in the domestic market. The cumulative R&D investment for SHR-1802 is approximately 62.09 million yuan [2] - Adebali monoclonal antibody injection is a humanized anti-PD-L1 monoclonal antibody that blocks the PD-1/PD-L1 pathway, reactivating the immune system's anti-tumor activity. It was approved for market in February 2023 for first-line treatment of extensive-stage small cell lung cancer. Similar products like Atezolizumab, Avelumab, and Durvalumab have been approved in the U.S., with combined global sales projected to be around $9.648 billion in 2024. The cumulative R&D investment for Adebali is approximately 939 million yuan [3]

Core Viewpoint - 恒瑞医药's subsidiary received approval for clinical trials of SHR-1905 injection, targeting atopic dermatitis, which may present a significant market opportunity given the success of similar products like Tezepelumab [1] Company Summary - 江苏恒瑞医药股份有限公司's subsidiary, 广东恒瑞医药有限公司, has been granted a clinical trial approval notice by the National Medical Products Administration for SHR-1905 injection [1] - The clinical trial application for SHR-1905 was accepted on July 17, 2025, and meets the requirements for drug registration [1] - SHR-1905 is a monoclonal antibody targeting thymic stromal lymphopoietin (TSLP), designed to block the release of inflammatory cytokines and inhibit downstream inflammatory signaling [1] Industry Summary - The global market for similar products, such as Tezepelumab (AstraZeneca/Amgen, marketed as Tezspire), is projected to generate approximately $1.22 billion in sales in 2024 [1] - The total research and development investment for SHR-1905 has reached approximately 209.62 million yuan [1]

Core Viewpoint - Heng Rui Medicine has received approval from the National Medical Products Administration for clinical trials of SHR-A2102, a targeted antibody-drug conjugate aimed at Nectin-4, indicating progress in its oncology pipeline [1][2] Group 1: Clinical Trial Approval - The company’s subsidiaries have been granted a clinical trial approval notice for SHR-A2102, which will soon commence trials [1] - The clinical trial is a multi-center, open-label Phase II study focusing on the safety, tolerability, and efficacy of SHR-A2102 in combination with other anti-tumor treatments for patients with advanced solid tumors [1] Group 2: Product Details - SHR-A2102 is a self-developed antibody-drug conjugate targeting Nectin-4, with a payload of topoisomerase I inhibitor [2] - Nectin-4 is highly expressed in tumors, correlating with tumor progression and poor prognosis [2] - Currently, there is one similar product approved globally, Enfortumab vedotin, projected to have global sales of approximately $1.949 billion in 2024 [2] - The cumulative R&D investment for SHR-A2102 has reached approximately 224.84 million yuan [2]

SHR-1905 注射液是胸腺基质淋巴细胞生成素(TSLP)单克隆抗体，可以阻断炎症细胞因子的释放，抑制 下游炎症信号的传导，最终改善炎症状态并控制疾病进展。目前,全球有同类产品 Tezepelumab(阿斯利 康/安进，商品名 Tezspire)获批上市，经查询 EvaluatePharma 数据库，2024 年 Tezspire 全球销售额约为 12.2 亿美元。截至目前，SHR-1905 注射液相关项目累计研发投入约 20,962 万元。 格隆汇10月13日丨恒瑞医药(01276.HK)公布，近日，江苏恒瑞医药股份有限公司(以下简称"公司")子公 司广东恒瑞医药有限公司收到国家药品监督管理局(以下简称"国家药监局")核准签发关于SHR-1905 注 射液的《药物临床试验批准通知书》，将于近期开展临床试验。 根据《中华人民共和国药品管理法》及有关规定，经审查，2025年 7 月 17 日受理的 SHR-1905 注射液 临床试验申请符合药品注册的有关要求，同意本品开展特应性皮炎的临床试验。 ...

Core Viewpoint - The company has received approval from the National Medical Products Administration for clinical trials of three new drug candidates, indicating a significant advancement in its oncology pipeline [1][2][3] Group 1: Drug Candidates - SHR-A2102 is a targeted antibody-drug conjugate (ADC) developed by the company, which targets Nectin-4 and has shown a strong correlation with tumor progression and poor prognosis. The global sales of a similar product, Enfortumab vedotin, are projected to be approximately $1.949 billion in 2024. The cumulative R&D investment for SHR-A2102 is about 225 million yuan [1] - SHR-1802 is a humanized monoclonal antibody that activates and promotes anti-tumor T cell responses. Currently, there are no similar products approved in the domestic market. The cumulative R&D investment for SHR-1802 is approximately 62.09 million yuan [2] - Adebali monoclonal antibody injection is a humanized anti-PD-L1 monoclonal antibody that reactivates the immune system's anti-tumor activity. It was approved for use in combination with carboplatin and etoposide for first-line treatment of extensive-stage small cell lung cancer in February 2023. Similar products like Atezolizumab and Durvalumab have combined global sales projected to be around $9.648 billion in 2024. The cumulative R&D investment for Adebali is about 939 million yuan [3]