Core Viewpoint - Heng Rui Medicine (01276.HK) has received approval from the National Medical Products Administration for multiple clinical trial applications, indicating a significant step forward in its drug development pipeline [1] Group 1: Company Developments - The company and its subsidiaries, including Suzhou Shengdiya Biopharmaceutical Co., Ltd., Shanghai Heng Rui Medicine Co., Ltd., and Shanghai Shengdi Medicine Co., Ltd., have been granted clinical trial approval for several products [1] - The approved products include HRS-7058 capsules, HRS-7058 tablets, SHR-9839(sc), Adebali monoclonal antibody injection, Bevacizumab injection, and SHR-A2102 injection [1] Group 2: Industry Implications - The approval of these clinical trials reflects ongoing advancements in the biopharmaceutical sector, showcasing the company's commitment to expanding its therapeutic offerings [1] - The initiation of these trials may enhance the company's competitive position in the market, potentially leading to new revenue streams upon successful development and commercialization of the drugs [1]

Core Viewpoint - Heng Rui Medicine (01276.HK) has received approval from the National Medical Products Administration for clinical trials of Sulfate Emamectin Benzoate Tablets and SHR0302 Gel, aimed at treating vitiligo [1] Group 1: Company Developments - The company and its subsidiary, Ruishi Biopharmaceutical Co., Ltd., have been granted the Clinical Trial Approval Notice for the mentioned drugs [1] - The clinical trial applications for Sulfate Emamectin Benzoate Tablets and SHR0302 Gel were accepted on August 29, 2025, and have met the requirements for drug registration [1] Group 2: Product Information - The intended use for Sulfate Emamectin Benzoate Tablets is as a monotherapy or in combination with SHR0302 Gel for the treatment of vitiligo [1]

Core Viewpoint - Heng Rui Medicine has received approval from the National Medical Products Administration for clinical trials of Sulfate Emamectin Benzoate Tablets and SHR0302 Gel, indicating progress in its drug development pipeline [1] Group 1: Drug Approvals and Clinical Trials - The company and its subsidiary, Ruishi Biopharmaceutical Co., Ltd., have been granted a clinical trial approval notice for Sulfate Emamectin Benzoate Tablets and SHR0302 Gel [1] - Sulfate Emamectin Benzoate Tablets have already been approved for four indications in China, including treatment for adult patients with active ankylosing spondylitis and moderate to severe rheumatoid arthritis who have had inadequate response to TNF inhibitors [1] Group 2: Drug Mechanism and Market Context - Sulfate Emamectin Benzoate is a highly selective JAK1 inhibitor that exerts anti-inflammatory and immunosuppressive effects by inhibiting JAK1 signaling [1] - Currently, there are no oral drugs of the same class approved globally for the treatment of vitiligo, although a topical drug, Ruxolitinib cream (OPZELURA®), has been approved, with no sales data available [1] Group 3: Research and Development Investment - The cumulative R&D investment for Sulfate Emamectin Benzoate projects has reached approximately 1.091 billion yuan [1]

Core Viewpoint - Heng Rui Medicine (01276.HK) has received approval from the National Medical Products Administration for multiple clinical trial applications, indicating a significant step forward in its drug development pipeline [1] Group 1: Company Developments - The company and its subsidiaries, including Suzhou Shengdiya Biopharmaceutical Co., Ltd., Shanghai Heng Rui Medicine Co., Ltd., and Shanghai Shengdi Medicine Co., Ltd., have been granted clinical trial approval for several products [1] - The approved products include HRS-7058 capsules, HRS-7058 tablets, SHR-9839(sc), Adebali monoclonal antibody injection, Bevacizumab injection, and SHR-A2102 injection [1] Group 2: Industry Implications - The approval of these clinical trials reflects ongoing advancements in the biopharmaceutical sector, showcasing the company's commitment to expanding its therapeutic offerings [1] - The initiation of these clinical trials may enhance the company's competitive position in the market, potentially leading to new revenue streams upon successful development and commercialization of the drugs [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 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 孫飄揚先生 中國上海 2025年11月27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。 （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 ...

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） 证券代码：600276 证券简称：恒瑞医药 公告编号：临 2025-190 江苏恒瑞医药股份有限公司 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 孫飄揚先生 中國上海 2025年11月27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 ...

Core Insights - The article highlights the top and bottom AH premium rates for various stocks as of November 27, with Northeast Electric (00042) leading with a premium rate of 864.29% [1] - The article also lists the stocks with the highest and lowest deviation values, indicating significant discrepancies between A-shares and H-shares [1] AH Premium Rate Rankings - The top three stocks with the highest AH premium rates are: - Northeast Electric (00042): 864.29% - Hongye Futures (03678): 269.82% - Sinopec Oilfield Service (01033): 264.86% [1] - The bottom three stocks with the lowest AH premium rates are: - Ningde Times (03750): -5.40% - China Merchants Bank (03968): -1.65% - Heng Rui Medicine (01276): -0.38% [1] Deviation Value Rankings - The stocks with the highest deviation values are: - Vanke Enterprises (02202): 30.48% - Dazhong Public Utilities (01635): 24.57% - Shandong Xinhua Pharmaceutical (00719): 22.88% [1] - The stocks with the lowest deviation values are: - Sairis (09927): -17.06% - China National Airlines (00753): -13.21% - China Life (02628): -13.18% [1] Additional Insights - The article provides detailed tables showing the premium rates and deviation values for the top and bottom AH stocks, indicating market trends and potential investment opportunities [2]

Group 1 - Wellington Management Group LLP increased its stake in 恒瑞医药 (Hengrui Medicine) by acquiring 1 million shares at an average price of HKD 69.15 per share, totaling approximately HKD 69.15 million [1] - Following this transaction, Wellington Management Group LLP's total shareholding rose to 21.48 million shares, increasing its ownership percentage from 7.93% to 8.32% [1][2]

Core Viewpoint - Wellington Management Group LLP increased its stake in Heng Rui Pharmaceutical (01276) by purchasing 1 million shares at a price of HKD 69.15 per share, totaling HKD 69.15 million, raising its total holdings to approximately 21.48 million shares, which represents an ownership percentage of 8.32% [1] Summary by Category - **Investment Activity** - Wellington Management Group LLP acquired 1 million shares of Heng Rui Pharmaceutical at HKD 69.15 per share, amounting to HKD 69.15 million [1] - Post-transaction, Wellington's total shareholding in Heng Rui Pharmaceutical is approximately 21.48 million shares [1] - **Ownership Structure** - Following the increase, Wellington Management Group holds an 8.32% stake in Heng Rui Pharmaceutical [1]

Core Insights - The article highlights the top and bottom AH premium rates for various stocks, indicating significant discrepancies between H-shares and A-shares [1][2][3] Group 1: Top AH Premium Rates - Northeast Electric (00042) leads with an AH premium rate of 831.03%, followed by Sinopec Oilfield Service (01033) at 267.57% and Hongye Futures (03678) at 266.67% [1][2] - Other notable stocks with high premium rates include Zhejiang Shibao (01057) at 263.21% and Fudan Zhangjiang (01349) at 237.83% [2] Group 2: Bottom AH Premium Rates - The stocks with the lowest AH premium rates include Ningde Times (03750) at -4.42%, China Merchants Bank (03968) at -1.39%, and Hengrui Medicine (01276) at 1.55% [1][2] - Additional stocks with low premium rates are WuXi AppTec (02359) at 5.00% and Weichai Power (02338) at 6.47% [2] Group 3: Top Deviation Values - The highest deviation values are seen in China Shipbuilding Defense (00317) at 27.44%, Shandong Xinhua Pharmaceutical (00719) at 22.88%, and Guanghetong (00638) at 22.39% [1][3] - Other stocks with significant deviation values include Nanjing Panda Electronics (00553) at 16.09% and Vanke Enterprises (02202) at 15.80% [3] Group 4: Bottom Deviation Values - Northeast Electric (00042) has the lowest deviation value at -25.74%, followed by Longpan Technology (02465) at -16.99% and Air China (00753) at -13.49% [1][3] - Additional stocks with low deviation values include Jiangsu Ninghu Expressway (00177) at -12.27% and China Life (02628) at -11.52% [3]