Group 1 - The core viewpoint highlights the recent surge in the stock prices of innovative pharmaceutical companies in China, with notable increases in companies such as Four Seasons Pharmaceutical, Hengrui Medicine, and WuXi AppTec [1] - Foreign investments have intensified in Chinese innovative drug companies, with significant share purchases by entities like the Government of Singapore Investment Corporation (GIC) and BlackRock [1] - GIC increased its stake in Hengrui Medicine by acquiring 40.22 million shares at an average price of 12.7133 HKD per share, raising its ownership from 1.62% to 6.37% [1] Group 2 - The domestic innovative drug sector has experienced rapid growth, with 83 licensing agreements reached this year, totaling approximately 84.53 billion USD, including upfront payments of 4.32 billion USD [2] - The upcoming World Conference on Lung Cancer (WCLC) from September 6-9, 2025, is expected to showcase 35 oral presentations by Chinese scholars, highlighting the clinical data of domestic new drugs [2] - There is optimism regarding the value recovery of core assets in the second half of the year, as noted by Zhongyou Securities [2]

Group 1: Hong Kong Stocks - Photovoltaic stocks rose in the morning, with Xinyi Solar (00968) up over 3%, Fuyao Glass (03606) up over 3%, and GCL-Poly Energy (00451) up over 3%. Domestic leading polysilicon companies have raised prices, and the market is focused on the restructuring progress in the polysilicon industry [1] - Heng Rui Medicine (01276) increased by over 5% after announcing the approval of HRS-7172 tablets for clinical trials by the National Medical Products Administration on September 2 [1] - Qingdao Bank (03866) rose over 2% as its major shareholder plans to increase holdings by 233 million to 291 million shares, recognizing the long-term investment value of the bank's stock [1] - Zhaojin Mining (01818) increased by over 1%, with a total market value exceeding HKD 100 billion, and the company is accelerating overseas project construction, indicating future growth potential [1] - Zhongsheng Holdings (00881) rose over 4%, with management optimistic about the new car market and smooth progress in the company's new energy business [1] - Innovent Biologics (09969) increased by over 5% after disclosing its interim performance report, with core products driving growth and accelerating multiple self-immune phase III clinical trials [1] - United Laboratories (03933) rose over 6% after announcing a 27% year-on-year increase in profit attributable to shareholders in its half-year results, with key progress in several products in the formulation segment [1] Group 2: U.S. Stocks - NIO (NIO.US) rose 3.13%, with vehicle deliveries in August 2025 reaching 31,305 units, a year-on-year increase of 55.2%, and total deliveries since 2025 reaching 166,472 units, up 30.0% [3] - Hesai Technology (HSAI.US) fell 2.91% as it plans to list in Hong Kong after passing the hearing [3] - Eli Lilly (LLY.US) rose 0.36% after Novo Nordisk's weight loss drug Wegovy outperformed it in a real-world comparative study [3] - Zai Lab (ZLAB.US) increased by 0.73% after announcing that its drug was approved in Hong Kong for treating recurrent or metastatic cervical cancer [3] - Beike (BEKE.US) rose 4.89% after reporting a 11.3% year-on-year increase in net income for the second quarter, leading multiple institutions to reaffirm a "buy" rating [3] - Gold stocks rose against the trend, with Gold Resource (GORO.US) up 15.80%, Harmony Gold (HMY.US) up 7.53%, and Kinross Gold (KGC.US) up 2.68%, driven by expectations of U.S. interest rate cuts and a weak dollar [3] - Corning (GLW.US) rose 2.15% after UBS raised its target price from $65 to $84 and upgraded its rating from "neutral" to "buy" [4] - Li Auto (LI.US) rose 4.50% as the founder announced plans to fully enter the high-end pure electric SUV market [4]

Core Viewpoint - Heng Rui Medicine (01276) has seen a stock price increase of over 5%, currently trading at 84.9 HKD with a transaction volume of 153 million HKD, following the announcement of clinical trial approval for its new anti-tumor drug HRS-7172 [1] Group 1 - The company received approval from the National Medical Products Administration (NMPA) for the clinical trial of HRS-7172 tablets [1] - HRS-7172 is a new small molecule inhibitor for anti-tumor treatment, developed independently by the company [1] - Currently, there are no similar drugs approved for market release domestically or internationally [1] Group 2 - The total research and development investment for the HRS-7172 project has reached approximately 28.41 million CNY [1]

Core Viewpoint - Heng Rui Medicine (01276) announced that as of August 31, 2025, the company has not yet started the implementation of its A-share buyback plan, and there is no discrepancy between the current implementation status and the buyback plan disclosed [1] Summary by Relevant Sections - Buyback Progress - The company has not initiated the buyback of its A-shares as of the specified date [1] - The implementation status of the buyback plan aligns with the previously disclosed buyback scheme [1]

Core Viewpoint - Heng Rui Medicine's subsidiary, Suzhou Shengdiya Biopharmaceutical Co., Ltd., has received approval from the National Medical Products Administration for the clinical trial of SHR-A2009, a novel antibody-drug conjugate targeting HER3 [1] Group 1: Product Development - SHR-A2009 specifically binds to HER3 on the surface of tumor cells, facilitating internalization and subsequent release of cytotoxic agents within lysosomes to kill cancer cells [1] - This is the first drug of its kind targeting HER3 to receive clinical trial approval globally, indicating a significant advancement in cancer treatment options [1] Group 2: Financial Investment - The cumulative research and development investment for SHR-A2009 has reached approximately 197.74 million yuan [1]

Core Viewpoint - Heng Rui Medicine has received approval from the National Medical Products Administration for clinical trials of HRS-7172 tablets, a new anti-tumor small molecule inhibitor developed by the company, with no similar drugs approved for market in China or abroad [1] Group 1: Company Developments - The company has announced the approval of the clinical trial for HRS-7172 tablets [1] - HRS-7172 tablets represent the company's independent research and development efforts in the field of oncology [1] - Cumulative research and development investment for the HRS-7172 project has reached approximately 28.41 million yuan [1] Group 2: Industry Context - Currently, there are no similar drugs approved for market in both domestic and international markets [1]

Core Viewpoint - Heng Rui Medicine has received approval from the National Medical Products Administration for clinical trials of HRS-7172 tablets, a new anti-tumor small molecule inhibitor developed by the company, with no similar drugs approved for market domestically or internationally [1] Group 1 - The company has announced the initiation of clinical trials for HRS-7172 tablets [1] - HRS-7172 tablets represent the company's independent research and development efforts in the field of oncology [1] - The total research and development investment for the HRS-7172 project has reached approximately 28.41 million yuan [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） 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。 证券代码：600276 证券简称：恒瑞医药 公告编号：临 2025-137 江苏恒瑞医药股份有限公司 关于回购公司 A 股股份的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 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 ...

Core Viewpoint - Heng Rui Medicine's subsidiary, Suzhou Shengdiya Biopharmaceutical Co., Ltd., has received approval from the National Medical Products Administration for the clinical trial of SHR-A2009, a novel antibody-drug conjugate targeting HER3 [1] Company Summary - SHR-A2009 is designed to specifically bind to HER3 on the surface of tumor cells, leading to internalization and subsequent release of cytotoxic agents within lysosomes to kill cancer cells [1] - This drug is notable as there are currently no similar drugs approved for market globally [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） 孫飄揚先生 中國上海 2025年9月2日 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。 证券代码：600276 证券简称：恒瑞医药 公告编号：临 2025-136 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。 承董事會命 江蘇恒瑞醫藥股份有限公司 董事長 ...