Core Viewpoint - The article highlights the positive topline results of ASC50 from a Phase I clinical trial conducted in the United States, indicating its potential as a leading oral small molecule IL-17 inhibitor [1] Group 1: Clinical Trial Results - ASC50 was evaluated in a randomized, double-blind, placebo-controlled Phase I trial involving 46 healthy subjects [1] - The trial assessed the safety, tolerability, pharmacokinetics, and targeted binding characteristics of IL-17A [1] - Subjects received single doses of ASC50 at varying levels: 10 mg, 30 mg, 100 mg, 200 mg, 400 mg, or 600 mg, compared to a matching placebo [1] Group 2: Company Insights - The CEO of the company expressed encouragement from the data, highlighting ASC50's favorable safety profile and differentiated pharmacokinetic characteristics [1] - ASC50 is noted as the first oral small molecule candidate developed using Artificial Intelligence-assisted Structure-Based Drug Discovery (AISBDD) technology in the immunology field [1] - The findings underscore ASC50's potential as a best-in-class oral small molecule IL-17 inhibitor [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。 Ascletis Pharma Inc. 歌禮製藥有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1672） 自願性公告 歌禮宣布有望成為同類最佳口服小分子IL-17抑制劑ASC50美國I期研究 取得積極的頂線結果 本公告乃歌禮製藥有限公司（「本公司」或「歌禮」，連同其附屬公司稱為「本集 團」）自願作出，以使本公司股東及潛在投資者了解本集團的最新業務發展。 本公司董事（「董事」）會（「董事會」）宣布，ASC50在美國開展的一項隨機、雙 盲、安慰劑對照的I期臨床試驗(NCT07024602)取得積極頂線結果，該試驗是在健 康受試者中進行的單劑量遞增(SAD)研究，旨在評估ASC50的安全性、耐受性、 藥代動力學及外周循環的白細胞介素-17A(IL-17A)靶向結合特徵。46名健康受試 者接受了10毫克、30毫克、100毫克、200毫克、400毫克或600毫克ASC50，或匹 配的安慰劑給藥。該研究 ...

Group 1 - Hong Kong pharmaceutical stocks experienced a general decline, with notable drops in share prices [1] - Gilead Sciences-B (01672.HK) fell by 11.02%, trading at HKD 12.92 [1] - Saint Noble Pharmaceuticals-B (02257.HK) decreased by 8.27%, with a price of HKD 8.32 [1] - Hengrui Medicine-B (02142.HK) saw a decline of 7.29%, priced at HKD 12.46 [1] - Rongchang Biopharmaceutical (09995.HK) dropped by 4.87%, now at HKD 75.15 [1]

Group 1 - The pharmaceutical sector is experiencing a general decline, with notable drops in stock prices for companies such as Genscript Biotech (down 11.02% to HKD 12.92), Sanofi (down 8.27% to HKD 8.32), and others [1] - Haitong International's research report indicates that the recent pullback in the pharmaceutical sector is primarily due to seasonal factors affecting liquidity, particularly the year-end accounting by southbound funds [1] - The report highlights a decreasing proportion of holdings in leading pharmaceutical stocks within the Hong Kong Stock Connect, such as Innovent Biologics and China National Pharmaceutical Group [1] Group 2 - Despite the short-term challenges, the report maintains a positive long-term outlook for the innovative drug industry chain, particularly for companies with strong fundamentals and successful overseas clinical progress [1] - The focus is on companies with strong earnings certainty in internet healthcare, CXO/research services, and leading biotech and pharmaceutical firms that have established external collaborations [1]

Core Viewpoint - The pharmaceutical sector is experiencing a general decline, with significant drops in stock prices for various companies, attributed to seasonal factors affecting liquidity and southbound fund flows [1] Group 1: Market Performance - Major pharmaceutical stocks have seen substantial declines, with Gilead Sciences-B (01672) down 11.02% to HKD 12.92, Sanofi-B (02257) down 8.27% to HKD 8.32, and Hengrui Medicine-B (02142) down 7.29% to HKD 12.46 [1] - Overall, the Hong Kong pharmaceutical sector has performed weakly, influenced by seasonal factors such as year-end fund settlement [1] Group 2: Analyst Insights - Haitong International's report indicates that the pharmaceutical sector is under short-term pressure due to liquidity issues, but maintains a positive long-term outlook on the innovative drug industry chain [1] - The report highlights a continuous decline in the Hong Kong Stock Connect holdings of leading pharmaceutical stocks, such as Innovent Biologics and China National Pharmaceutical Group [1] Group 3: Long-term Opportunities - The firm expresses confidence in the long-term prospects of internet healthcare, CXO/research service leaders, and top biotech and pharmaceutical companies that have established external collaborations and are making progress in overseas clinical trials [1]

Core Viewpoint - The biotechnology sector in Hong Kong is experiencing a significant decline, with several companies facing substantial stock price drops [1] Group 1: Company Performance - Gilead Sciences (歌礼制药, 01672.HK) has seen its stock price drop by over 8% [1] - Sanofi (圣诺医药, 02257.HK) has experienced a decline of more than 6% [1] - Other companies such as BeiGene (百济神州, 06160.HK) and Innovent Biologics (复宏汉霖, 02696.HK) are also following the downward trend [1]

每经AI快讯，12月15日，港股生物技术板块持续走低，歌礼制药跌超8%，圣诺医药跌超6%，百济神 州、复宏汉霖等跟跌。 ...

Group 1: Hong Kong Stock Market Analysis - The Hang Seng Index opened down by 1%, while the Hang Seng Tech Index fell by 1.34%. The assisted reproductive concept stocks, such as Jinxin Fertility, rose by approximately 3%, while the pharmaceutical sector saw declines, with Genscript Biotech dropping over 5% [1] - Guotai Junan Securities believes that the Hong Kong stock market is more sensitive to external risks, particularly with the uncertain future path of the Federal Reserve's interest rate cuts and the upcoming peak of lock-up stock releases in December, which may lead to liquidity shocks. They suggest potential rebound points in mid to late December and early January [1] - Everbright Securities indicates that compared to previous bull markets, the current index still has significant upside potential. However, under the government's guidance for a "slow bull" market, the duration of the bull market may be more important than the magnitude of the increase. In the short term, the market may lack strong catalysts and could experience a period of consolidation [1] - Guosen Securities states that the short-term adjustment of the Hong Kong stock market may open up space for a market rise in 2026. They note that in November, net inflows from southbound funds into the Hong Kong market exceeded 110 billion RMB, reflecting strong liquidity and a willingness to accumulate positions at low levels. They predict that the Hong Kong stock market could operate between 30,000 and 32,000 points in 2026 [1] Group 2: Ice and Snow Economy - Ping An Securities highlights that the ice and snow economy has become a new growth point in the economy, encompassing ice and snow sports, tourism, equipment, and culture. It features a long industrial chain, significant diversion effects, and high social benefits, becoming an important force in promoting regional economic and social development [2] - The increasing popularity of ice and snow sports and the sustained heat of ice and snow tourism are transforming "cold resources" into a "hot economy," leading to rapid growth in the ice and snow industry. Companies with marginal improvements in ice and snow sports brands and stable dividend-paying leading enterprises are recommended for investment [2]

Summary of Key Points Core Viewpoint - The article discusses the stock buyback activities of various companies, highlighting the amounts repurchased and their significance in terms of total shares outstanding. Group 1: Major Buybacks - Tencent Holdings (00700) had the largest buyback, repurchasing 1.044 million shares for a total of 636 million [1][2] - China Merchants Industry Holdings (01919) repurchased 4.461 million shares for 60.86 million, representing 2.986% of its total shares [2] - Geely Automobile (00175) bought back 1.362 million shares for 23.92 million, which is 0.078% of its total shares [2] Group 2: Notable Buyback Activities - China Feihe (06186) repurchased 5.655 million shares for 23.18 million, accounting for 2.605% of its total shares [2] - Yum China (09987) conducted two buybacks totaling 58,000 shares for 21.67 million, representing 4.750% of its total shares [2] - Kweichow Moutai (01951) repurchased 772,200 shares for 19.35 million, which is 0.280% of its total shares [2] Group 3: Other Companies Involved - Vitasoy International (00345) repurchased 2,000 shares for 13,300, which is 2.209% of its total shares [3] - Yanzhiyu (01497) bought back 200,000 shares for 1.39 million, representing 0.786% of its total shares [3] - Weigao Group (01066) repurchased 120,000 shares for 631,000, which is 5.179% of its total shares [3]

证券时报•数据宝统计，歌礼制药-B在港交所公告显示，12月12日以每股14.380港元至14.800港元的价格 回购30.00万股，回购金额达437.38万港元。该股当日收盘价14.520港元，下跌3.20%，全天成交额 7573.53万港元。 （原标题：歌礼制药-B(01672.HK)12月12日回购30.00万股，耗资437.38万港元） 歌礼制药-B回购明细 | 日期 | 回购股数 | 回购最高价 | 回购最低价 | 回购金额 | | --- | --- | --- | --- | --- | | | （万股） | （港元） | （港元） | （万港元） | | 2025.12.12 | 30.00 | 14.800 | 14.380 | 437.38 | | 2025.12.04 | 162.00 | 13.230 | 12.330 | 2093.89 | | 2025.12.03 | 130.60 | 12.480 | 11.680 | 1592.75 | | 2025.11.05 | 10.00 | 9.320 | 9.100 | 92.40 | | 2025.10.31 | 20.00 | 9. ...