Core Viewpoint - Fudan Zhangjiang (688505) has entered into two structured deposit agreements with Bank of China, utilizing temporarily idle funds from its A-share public offering, totaling RMB 170 million [1] Group 1: Stock Performance - As of October 14, 2025, Fudan Zhangjiang's stock closed at RMB 9.02, down 0.88% from the previous trading day [1] - The stock opened at RMB 9.09, reached a high of RMB 9.19, and a low of RMB 8.97, with a trading volume of RMB 56.688 million and a turnover rate of 0.88% [1] Group 2: Structured Deposit Agreements - The company has signed two structured deposit agreements with Bank of China, with a total investment of RMB 170 million [1] - Agreement I involves an investment of RMB 40 million for 63 days, linked to the GBP/USD spot exchange rate, with an expected annualized return of 0.5500%-1.7000% [1] - Agreement II involves an investment of RMB 130 million for 78 days, linked to the EUR/USD spot exchange rate, with an expected annualized return of 0.3500%-1.5575% [1] Group 3: Disclosure and Approval - The transactions are disclosed under listing rules and are exempt from independent shareholder approval [1] - The board believes the transactions are conducted on normal commercial terms and are in the overall interest of the company and its shareholders [1]

Core Viewpoint - The failure of the generic drug application for Obeticholic Acid by Fudan Zhangjiang highlights the high-risk nature of the pharmaceutical industry, particularly in the context of drug approvals and market entry [2][3]. Company Summary - Fudan Zhangjiang Biopharmaceutical Co., Ltd. announced that its subsidiary, Taizhou Fudan Zhangjiang, received a notice of disapproval from the National Medical Products Administration for its application of Obeticholic Acid tablets, which were intended for the treatment of Primary Biliary Cholangitis (PBC) [2]. - The company had invested approximately 125 million yuan in the development of Obeticholic Acid tablets as of the announcement date [4]. - The disapproval was attributed to the lack of sufficient evidence supporting the drug's benefits over risks, particularly due to the original drug's performance in the market, which has raised concerns about severe liver damage [4][6]. - Despite the setback, the company plans to continue increasing its R&D investments and accelerate the progress of other projects to maintain revenue contributions and enhance its core competitiveness [6]. Industry Summary - The pharmaceutical industry is characterized by high risks, with many companies facing challenges in drug development and approval processes [4]. - The original drug, Obeticholic Acid, has faced scrutiny and regulatory actions, including a recommendation for withdrawal of its market authorization by the European Medicines Agency and a voluntary market withdrawal in the U.S. [3]. - Other companies, such as Zai Lab, have also encountered difficulties with FXR agonists, indicating broader challenges within this segment of the pharmaceutical market [5].

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，並明確表示概不因本公告全部或任何部份內容而產生或因依賴該等內容而 引致的任何損失承擔任何責任。 須予披露的交易 認購中國銀行結構性存款產品 認購結構性存款產品 近日，本公司與中國銀行訂立中國銀行結構性存款產品協議 I 及中國銀行結構性存款產品協議 II，同意以 A 股公開發行所得暫時閑置募集資金向中國銀行認購總金額為人民幣 1.70 億元的結構 性存款產品。 上市規則的涵義 在訂立中國銀行結構性存款產品協議時，就中國銀行結構性存款產品協議項下產品的認購金額而 言，一項或多項適用百分比率（定義見上市規則第 14.07 條）超過 5%但均低於 25%，故根據上市 規則第 14 章，该交易構成本公司之須予披露的交易，須遵守上市規則第 14 章有關申報及公告之 規定，惟獲豁免遵守獨立股東批准之規定。 概述 近日，本公司與中國銀行訂立中國銀行結構性存款產品協議 I 及中國銀行結構性存款產品協議 II， 同意以 A 股公開發行所得暫時閑置募集資金向中國銀行認購總金額為人民幣 1.70 億元的結構性存 款產品。 - ...

Core Viewpoint - Fudan Zhangjiang (01349.HK) has entered into agreements with Bank of China to subscribe to structured deposit products totaling RMB 170 million using temporarily idle funds raised from its A-share public offering [1] Related Events - Fudan Zhangjiang (01349.HK) has subscribed to structured deposit products from Bank of China [1] - Fudan Zhangjiang (688505.SH) faced a setback as its drug application for Obecholic Acid Tablets for the treatment of primary biliary cholangitis was not approved [1]

Core Viewpoint - Fudan Zhangjiang (01349) has entered into agreements with Bank of China to subscribe to structured deposit products totaling RMB 170 million using temporarily idle funds raised from its A-share public offering [1] Group 1 - The company has signed two structured deposit product agreements with Bank of China [1] - The total amount for the structured deposit products is RMB 170 million [1] - The funds used for this investment are temporarily idle funds from the company's A-share public offering [1]

Core Viewpoint - Fudan Zhangjiang (01349) has entered into agreements with Bank of China to invest a total of RMB 170 million in structured deposit products using temporarily idle funds raised from the public offering of A-shares [1] Group 1 - The company has signed two structured deposit product agreements with Bank of China [1] - The total amount of investment in these structured deposit products is RMB 170 million [1] - The funds used for this investment are temporarily idle funds from the public offering of A-shares [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，並明確表示概不因本公告全部或任何部份內容而產生或因依賴該等內容而 引致的任何損失承擔任何責任。 須予披露的交易 認購中國銀行結構性存款產品 認購結構性存款產品 近日，本公司與中國銀行訂立中國銀行結構性存款產品協議 I 及中國銀行結構性存款產品協議 II，同意以 A 股公開發行所得暫時閑置募集資金向中國銀行認購總金額為人民幣 1.70 億元的結構 性存款產品。 上市規則的涵義 在訂立中國銀行結構性存款產品協議時，就中國銀行結構性存款產品協議項下產品的認購金額而 言，一項或多項適用百分比率（定義見上市規則第 14.07 條）超過 5%但均低於 25%，故根據上市 規則第 14 章，该交易構成本公司之須予披露的交易，須遵守上市規則第 14 章有關申報及公告之 規定，惟獲豁免遵守獨立股東批准之規定。 概述 近日，本公司與中國銀行訂立中國銀行結構性存款產品協議 I 及中國銀行結構性存款產品協議 II， 同意以 A 股公開發行所得暫時閑置募集資金向中國銀行認購總金額為人民幣 1.70 億元的結構性存 款產品。 - ...

Core Insights - Fudan Zhangjiang's subsidiary failed to obtain approval from the National Medical Products Administration (NMPA) for the drug Obecholic Acid Tablets, which is intended for the treatment of primary biliary cholangitis (PBC) [1] - The drug is classified as a Class 3 generic chemical drug and is a Farnesoid X receptor agonist that regulates bile acid metabolism [1] - The NMPA's rejection was primarily due to the lack of sufficient evidence supporting the drug's benefits outweighing risks, as the reference drug has not received regular approval abroad [1] Company Performance - Fudan Zhangjiang reported a revenue of 390 million yuan in the first half of the year, a year-on-year decline of 4.42% [2] - The company's net profit attributable to shareholders was 5.71 million yuan, a significant drop of 91.89% year-on-year [2] - Since 2022, the company's net profit has been on a downward trend, with declines of 35.3% in 2022, 21.3% in 2023, and a projected 63.4% drop in 2024 [2] Investment Context - Despite a 20% increase in stock price this year, Fudan Zhangjiang's current stock price is only about 20% of its historical high point since its listing in July 2020 [2] - The company has invested a total of 125 million yuan (unaudited) in the development of Obecholic Acid, which has been fully accounted for in the respective accounting periods [1]

每经AI快讯，10月14日，港股黄金股持续走强，中国白银集团涨超10%，珠峰黄金涨逾9%，灵宝黄金 涨超6%，山东黄金涨近5%。 ...

Group 1 - Jiuan Medical plans to repurchase shares worth no less than 300 million yuan and no more than 600 million yuan, with a maximum repurchase price of 53.5 yuan per share, to maintain company value and shareholder rights [1] - The current share price of 38.19 yuan represents a discount of approximately 28% compared to the repurchase cap, signaling potential valuation recovery [1] - The repurchased shares are intended to be sold within 12 months after the announcement, providing short-term price stability and future funding flexibility for business transformation [1] Group 2 - Lingbei's drug Bexicaserin has been recognized as a breakthrough therapy by the National Medical Products Administration (NMPA) in China for treating developmental epileptic encephalopathy (DEE) [2] - Bexicaserin is a novel oral 5-HT2C receptor agonist designed to reduce cardiovascular risks, marking a significant milestone in Lingbei's development in China [2] Group 3 - Four Rings Pharmaceutical has announced an investment in Swiss medical aesthetics company Suisselle SA, strengthening their long-term partnership [3] - This investment allows Four Rings to maintain exclusive rights to the CELLBOOSTER® product in China and participate deeply in its operations and development [3] - The collaboration aims to accelerate the promotion and sales of Four Rings' self-developed aesthetic products in Europe and other overseas markets [3] Group 4 - Fudan Zhangjiang's application for the drug Obechol acid tablets for treating primary biliary cholangitis was not approved by the NMPA due to non-compliance with registration requirements [4] - The project has incurred approximately 125 million yuan in R&D investment, which will not significantly impact the company's current financial status [4] - The company needs to review the reasons for the rejection and optimize its pipeline to enhance future R&D efficiency [4] Group 5 - Sunshine Nuohuo's BTP4507 has received approval for clinical trials from the NMPA, targeting primary hypertension patients with inadequate response to monotherapy [5] - BTP4507 is a compound formulation designed to address multiple hypertension targets, catering to the needs of over 300 million hypertensive patients in China [5] - If successful in clinical trials, this drug could open new growth avenues for the company, although it will face competition from similar combination therapies [5]