Market Overview - The Hong Kong stock market indices collectively declined, ending a four-day rally, with the Hang Seng Index dropping 0.43% to close just above 26,000 points [1] - The Hang Seng Index, the Hang Seng China Enterprises Index, and the Hang Seng Tech Index fell by 0.43%, 0.73%, and 0.24% respectively [2] Sector Performance - Large technology stocks generally fell, with Meituan dropping over 5%, and other major players like Bilibili and Baidu also experiencing declines [5] - Semiconductor stocks showed strong gains, with notable increases in Shanghai Fudan and SMIC, driven by robust demand in the AI sector [6][7] - The copper and aluminum sectors performed actively, supported by expectations of a Federal Reserve interest rate cut [3][9] Notable Stocks - Meituan's stock price fell to 96.55, down 5.06%, with a market capitalization of 590.03 billion [6] - Semiconductor stocks like Shanghai Fudan and Huahong Semiconductor saw increases of over 5% and 4% respectively, reflecting strong market interest [7] - Apple-related stocks surged, with Hongteng Precision rising over 12% following the launch of new iPhone models [8] Biopharmaceutical Sector - The biopharmaceutical sector faced significant declines, with companies like Gilead Sciences and Hansoh Pharmaceutical dropping nearly 20% and 9% respectively, amid reports of potential U.S. restrictions on Chinese pharmaceuticals [10][11] Investment Trends - Southbound funds recorded a net inflow of 18.99 billion HKD, indicating continued interest in Hong Kong stocks [12] - Analysts suggest that the Hong Kong market's low valuations and improving asset quality may attract more foreign investment, particularly in the internet sector [14]

Group 1 - The Hong Kong pharmaceutical sector experienced a significant decline, with major stocks dropping sharply [1] - Gilead Sciences-B (01672.HK) fell nearly 15%, indicating a substantial loss in market value [1] - China Biopharmaceutical (01177.HK) saw a decline of over 10%, reflecting broader market trends affecting the industry [1] Group 2 - Other notable declines included CSPC Pharmaceutical Group (01093.HK), BeiGene (06160.HK), Hengrui Medicine (01276.HK), and WuXi AppTec (02359.HK), all of which experienced significant drops [1]

Group 1 - The Hong Kong stock market for innovative drug concepts continues to decline, with notable drops in several companies [1] - Gilead Sciences saw a decline of over 14%, while China National Pharmaceutical Group fell by more than 9% [1] - Other companies such as BeiGene and CSPC Pharmaceutical Group also experienced declines [1]

Core Viewpoint - The recent clinical trial results for ASC30, a long-acting GLP-1 receptor agonist developed by the company, indicate its potential as a quarterly administered treatment for weight management in obese patients, showing a 75-day observed half-life [1] Group 1: Company Developments - The company has reported that its ASC30 formulation, designed for weight maintenance, has demonstrated an observed half-life of 75 days in a Phase Ib clinical trial involving obese participants with a BMI of 30 kg/m² or higher [1] - The ASC30 formulation utilizes the company's Ultra-Long-Acting Platform (ULAP) for drug development, highlighting its innovative approach in the pharmaceutical industry [1] - Following a single subcutaneous injection of 100 mg ASC30, the time to reach peak concentration (Cmax) was observed to be 17 days post-administration [1] Group 2: Market Activity - On September 10, shareholders of the company deposited shares into Futu Securities International Hong Kong, with a market value of HKD 1.994 billion, representing 14.11% of the total shares [1]

智通财经APP讯，歌礼制药-B(01672)发布公告，由于合资格参与者根据公司于2019年6月6日采纳的购股 权计划行使购股权，公司于2025年9月10日合计发行9.8万股普通股。 ...

Core Viewpoint - The company, Gilead Sciences-B (01672), announced the issuance of 98,000 ordinary shares due to eligible participants exercising stock options under the stock option plan adopted on June 6, 2019 [1] Group 1 - The total number of ordinary shares to be issued is 98,000 [1] - The stock option plan was adopted on June 6, 2019 [1] - The issuance date for the shares is set for September 10, 2025 [1]

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 公司名稱： 歌禮製藥有限公司 呈交日期： 2025年9月10日 第 3 頁 共 7 頁 v 1.3.0 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 | 不適用 | | 於香港聯交所上市 | | 是 | | | | 證券代號 (如上市) 01672 | 說明 | | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 事件 | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | 已 ...

Core Viewpoint - Dongwu Securities reports that Gilead Sciences-B (01672) is progressing well with its pipeline for 2025, aligning with expectations, and the likelihood of successful product launches is high [1] Group 1: ASC30 Injection Data - The ASC30 injection has shown a promising apparent half-life of 75 days in obese subjects, indicating the potential for a quarterly dosing regimen for long-term weight management [1] - In the Phase Ib clinical study, no serious adverse events (SAEs) were reported, and only mild gastrointestinal-related adverse events (AEs) were observed, indicating excellent safety and tolerability for long-term use [2] Group 2: ULAP Platform and Future Developments - ASC30 is developed using Gilead's Ultra-Long-Acting Platform (ULAP), which allows for the creation of various long-acting formulations to meet diverse clinical needs [3] - The company is currently conducting a Phase IIa clinical trial for ASC30 in the U.S., utilizing the ULAP technology to achieve precise drug release and improve clinical efficacy [3] Group 3: Upcoming Catalysts and Clinical Data - The company expects to disclose significant clinical data in the second half of the year, including top-line results for ASC30 oral Phase II, ASC47 Phase I, and ASC50 Phase I in Q4 2025, and ASC30 subcutaneous Phase II in Q1 2026 [4] - Additionally, the company plans to submit 2-3 new IND applications to the FDA within the next 6-9 months, including a dual-target peptide weight loss pipeline [4]

Core Viewpoint - Dongwu Securities reports that Gilead Sciences-B (01672) is progressing well with its pipeline for 2025, aligning with the firm's expectations, and anticipates a high probability of successful product launches in the future [1] Group 1: ASC30 Injection Data - The ASC30 injection has shown a promising apparent half-life of 75 days in obese subjects, indicating the potential for a quarterly dosing regimen for long-term weight management [1] - In the Phase Ib clinical study, no serious adverse events (SAEs) were reported, and only mild gastrointestinal-related adverse events (AEs) were observed, indicating excellent safety and tolerability for long-term use [2] Group 2: ULAP Platform and Future Developments - ASC30 is developed using Gilead's Ultra-Long-Acting Platform (ULAP), which allows for the creation of various long-acting formulations to meet diverse clinical needs [3] - The company is currently conducting a Phase IIa clinical trial for ASC30 in the U.S., utilizing the ULAP technology to achieve precise drug release and improve clinical efficacy [3] Group 3: Upcoming Catalysts and Clinical Data - The company expects to disclose significant clinical data in the latter half of the year, including top-line results for ASC30 oral Phase II, ASC47 Phase I, and ASC50 Phase I in Q4 2025, and ASC30 subcutaneous Phase II in Q1 2026 [4] - Additionally, the company plans to submit 2-3 new IND applications to the FDA within the next 6-9 months, including a dual-target peptide weight management pipeline [4]

消息面上，歌礼制药宣布，小分子GLP-1受体(GLP-1R)激动剂ASC30用于减重维持的超长效皮下储库型 (depot)制剂在美国Ib期临床研究的肥胖受试者中显示出75天的表观半衰期，该数据支持ASC30作为长期 体重管理的维持疗法，每季度给药一次。ASC30减重维持制剂利用歌礼超长效药物开发平台开发而成。 东吴证券指出，公司下半年催化剂较多，多个重要临床数据即将披露：根据临床试验进度和公司公告， 预计2025年Q4将读出ASC30口服II期、ASC47的I期及ASC50的I期顶线数据，2026年Q1将读出ASC30皮 下注射II期顶线数据。同时公司预计未来6-9个月将向FDA申报2-3个新管线的IND，包含双靶点多肽减 重管线。 歌礼制药-B(01672)早盘涨超5%，截至发稿，涨5.02%，报14.86港元，成交额2036.04万港元。 ...