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之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 （股份代號：1877） 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條規則作出。 茲載列上海君實生物醫藥科技股份有限公司在上海證券交易所網站刊發之《上海 君實生物醫藥科技股份有限公司關於控股股東、實際控制人之一兼董事長增持股 份結果暨權益變動觸及1%刻度的公告》，僅供參閱。 承董事會命 上海君實生物醫藥科技股份有限公司 熊俊先生 主席 SHANGHAI JUNSHI BIOSCIENCES CO., LTD.* 上海君實生物醫藥科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 中國，上海，2026年3月31日 於本公告日期，本公司董事會包括執行董事熊俊先生、李寧博士、鄒建軍博士、 李聰先生、張卓兵先生、姚盛博士、王剛博士及李鑫博士；非執行董事湯毅先 生；以及獨立非執行董事張淳先生、馮曉源博士、酈仲賢先生、魯琨女士及楊勁 博士。 * 僅供識別之用 证券代码：688 ...

上海君实生物医药科技股份有限公司 证券代码：688180 证券简称：君实生物 公告编号：临 2026-022 关于控股股东、实际控制人之一兼董事长增持股份结果暨 权益变动触及 1%刻度的公告 本公司董事会、全体董事及相关股东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、准确性和完整性依法承担法律 责任。 重要内容提示： 已披露增持计划情况 上海君实生物医药科技股份有限公司（以下简称"公司"）控股股东、实际 控制人之一兼董事长熊俊先生拟自 2025 年 4 月 12 日起 12 个月内，通过上海证 券交易所交易系统与香港联合交易所有限公司允许的方式（包括但不限于集中竞 价和大宗交易等方式）增持公司 A 股股份及 H 股股份，合计增持金额不低于人 民币 1 亿元，其中 A 股增持金额不低于人民币 5,000 万元（以下简称"本次增持 计划"）。 增持计划的实施结果 2026 年 3 月 31 日，公司收到熊俊先生《关于增持上海君实生物医药科技股 份有限公司股份计划实施完毕的告知函》，2025 年 4 月 12 日至 2026 年 3 月 31 日，熊俊先生增持公司A股和H股股份合 ...

Investment Rating - The report assigns a "Buy" rating for Junshi Biosciences, indicating strong innovation capabilities and potential for significant value realization in the near future [5][8]. Core Insights - Junshi Biosciences, established in December 2012, is a leading innovative biopharmaceutical company focused on the discovery, development, and commercialization of innovative therapies. The company has a robust pipeline and a solid foundation in its existing products, particularly the PD-1 monoclonal antibody, Toripalimab, which is expected to generate substantial revenue growth [7][10]. - The company is expected to achieve significant revenue growth, with projected revenues of RMB 33.98 billion, RMB 45.50 billion, and RMB 57.80 billion for the years 2026 to 2028, respectively. The net profit is forecasted to improve from a loss of RMB 4.97 billion in 2026 to a profit of RMB 7.64 billion by 2028 [6][8]. Summary by Relevant Sections Market Performance - The closing price of Junshi Biosciences is RMB 31.29, with a total market capitalization of RMB 32,125.13 million and a total share capital of 1,026.69 million shares. The company has an asset-liability ratio of 51.09% and a net asset value per share of RMB 5.87 [3]. Revenue and Profit Forecast - Revenue projections for Junshi Biosciences are as follows: RMB 1,948 million in 2024, RMB 2,498 million in 2025, RMB 3,398 million in 2026, RMB 4,550 million in 2027, and RMB 5,780 million in 2028, with corresponding year-on-year growth rates of 29.67%, 28.23%, 36.00%, 33.89%, and 27.06% [6][8]. - The forecasted net profit for the same years is expected to be a loss of RMB 1,281 million in 2024, a loss of RMB 875 million in 2025, a loss of RMB 497 million in 2026, a profit of RMB 258 million in 2027, and a profit of RMB 764 million in 2028, with significant improvements in profitability anticipated [6][8]. Product Pipeline and Innovation - Junshi Biosciences has a strong pipeline with several late-stage clinical candidates expected to enter the market soon. Key products include JS207, a PD-1/VEGF bispecific antibody, and JS107, a CLDN 18.2 ADC, both of which show promising clinical data and potential for rapid approval [10][28]. - The company’s lead product, Toripalimab, is expected to generate sales of RMB 20.68 billion in 2025, reflecting a year-on-year growth of 37.72%. The product has received multiple approvals for various indications and is positioned to capture significant market share [21][17]. Management and Strategy - The management team of Junshi Biosciences is experienced in drug development and commercialization, with key appointments aimed at enhancing the company's strategic direction and operational efficiency. The team includes professionals with extensive backgrounds in oncology and biopharmaceuticals [14][15]. Competitive Landscape - Junshi Biosciences is well-positioned in the competitive landscape of innovative biopharmaceuticals, particularly in the PD-1/VEGF dual antibody space, which has seen significant investment and interest from global pharmaceutical companies [40][41].

Investment Rating - The investment rating for the pharmaceutical industry is "Positive" (maintained) [4] Core Insights - The oral administration of drugs for retinal diseases shows promising prospects, particularly with a focus on HaiXi New Drug's developments [3][4] - The pharmaceutical market has seen a decline of 2.77% from March 16 to March 20, with innovative drugs showing signs of recovery, suggesting a potential valuation correction [5][27] - The global number of patients with eye diseases has increased from 1.7 billion in 2018 to 2.3 billion in 2023, with projections to reach 2.8 billion by 2032, indicating a growing market [8][20] - The market for wet age-related macular degeneration (wAMD) drugs is expected to grow from $5.8 billion in 2023 to $10.6 billion by 2032, reflecting a compound annual growth rate (CAGR) of 6.9% [11][20] - HaiXi New Drug's HXP056 aims to address the unmet needs in retinal disease treatment through oral administration, with clinical trials expected to start in June 2025 [20][24] Summary by Sections 1. Retinal Disease Oral Administration Prospects - The market for retinal diseases is expanding, with existing therapies showing low adherence due to the inconvenience of intravitreal injections [8][15] - The number of patients in China with eye diseases is projected to rise from 308.8 million in 2018 to 380.3 million by 2024, with a slower growth rate thereafter [8] - HXP056 is positioned to be the first oral treatment for wAMD, DME, and RVO, overcoming significant technical challenges [20][24] 2. Industry Perspective - The pharmaceutical index has experienced a decline of 2.77% recently, with a total decline of 2.90% year-to-date [27][36] - The report emphasizes a dual investment framework focusing on "technology innovation" and "performance/valuation recovery" for the year [46][47] - The report suggests that the Chinese pharmaceutical industry has completed a transition from old to new growth drivers, with significant advancements in innovation and international market presence [46][47]

Investment Rating - The report does not explicitly state an investment rating for the pharmaceutical industry [2]. Core Insights - During the period from March 9 to March 15, 2026, a total of 98 innovative drugs/improved new drugs were submitted for clinical trials or market approval, with 82 domestic and 16 imported applications [8]. - A total of 86 innovative drugs/improved new drugs received "implied permission" for clinical trials, including 48 chemical drugs and 37 biological drugs [8]. - Notable drugs include SG-12 injection for chronic hepatitis B and SKB-575 injection for atopic dermatitis, both of which received clinical trial approval [9][10]. Summary by Sections 1. Domestic Innovative Drugs/Improved New Drugs - 1.1 Overview: 98 applications for clinical trials or market approval were recorded, with 82 domestic and 16 imported [8]. - 1.2 Clinical Trial Approvals: 86 drugs received implied permission for clinical trials, including significant drugs like SG-12 and SKB-575 [8][9]. - 1.3 Market Approvals: No new drugs were approved for market this week [29]. 2. Domestic Generic Drugs/Biosimilars - 2.1 Overview: 41 applications for generic drugs were submitted, with 36 for new registration and 4 for clinical trials [30]. - 2.2 Consistency Evaluation: 6 products passed consistency evaluation, with a total of 55 products deemed equivalent [31]. 3. Policy and Regulation - 3.1 Policy Overview: The report summarizes key policies affecting the pharmaceutical industry, including the implementation of the Drug Administration Law [3]. - 3.2 Detailed Policy Explanation: Specific regulations and their implications for the industry are discussed [3]. 4. Global Innovative Drug Development - 4.1 Global R&D Overview: The report highlights the progress of the top 10 innovative drugs globally, including significant approvals and clinical trial results [4]. - 4.2 Clinical Trial Outcomes: The report details both successful and failed clinical trials for various drugs, indicating the competitive landscape [4].

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之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 SHANGHAI JUNSHI BIOSCIENCES CO., LTD.* 上海君實生物醫藥科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1877） * 僅供識別之用 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條規則作出。 茲載列上海君實生物醫藥科技股份有限公司在上海證券交易所網站刊發之《上海 君實生物醫藥科技股份有限公司關於召開2025年度業績說明會的公告》，僅供參 閱。 承董事會命 上海君實生物醫藥科技股份有限公司 熊俊先生 主席 中國，上海，2026年3月20日 於本公告日期，本公司董事會包括執行董事熊俊先生、李寧博士、鄒建軍博士、 李聰先生、張卓兵先生、姚盛博士、王剛博士及李鑫博士；非執行董事湯毅先 生；以及獨立非執行董事張淳先生、馮曉源博士、酈仲賢先生、魯琨女士及楊勁 博士。 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 ...

证券代码：688180 证券简称：君实生物 公告编号：临 2026-021 上海君实生物医药科技股份有限公司 关于召开 2025 年度业绩说明会的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： （二）会议召开地点：上证路演中心（https://roadshow.sseinfo.com） （三）会议召开方式：上证路演中心网络互动 会议召开时间：2026 年 3 月 27 日（星期五）10：00-11：00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （https://roadshow.sseinfo.com） 会议召开方式：上证路演中心网络互动 投资者可于 2026 年 3 月 26 日（星期四）16:00 前登录上证路演中心网站 首页点击"提问预征集"栏目或通过上海君实生物医药科技股份有限公司（以下 简称"公司"）邮箱 info@junshipharma.com 进行提问。公司将在说明会上对投 资者普遍关注的问题进行回答。 公司已于 2026 年 3 月 14 日在 ...

SHANGHAI JUNSHI BIOSCIENCES CO., LTD.* 上海君實生物醫藥科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 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之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 （股份代號：1877） 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條規則作出。 茲載列上海君實生物醫藥科技股份有限公司在上海證券交易所網站刊發之《上海 君實生物醫藥科技股份有限公司自願披露關於控股股東、實際控制人之一兼董事 長增持股份進展公告》，僅供參閱。 承董事會命 上海君實生物醫藥科技股份有限公司 熊俊先生 主席 中國，上海，2026年3月16日 於本公告日期，本公司董事會包括執行董事熊俊先生、李寧博士、鄒建軍博士、 李聰先生、張卓兵先生、姚盛博士、王剛博士及李鑫博士；非執行董事湯毅先 生；以及獨立非執行董事張淳先生、馮曉源博士、酈仲賢先生、魯琨女士及楊勁 博士。 * 僅供識別之用 证券代码：688180 证券简称 ...

本公司董事会、全体董事及相关股东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、准确性和完整性依法承担法律 责任。 重要内容提示： 证券代码：688180 证券简称：君实生物 公告编号：临 2026-020 上海君实生物医药科技股份有限公司 自愿披露关于控股股东、实际控制人之一兼董事长 增持股份进展公告 上海君实生物医药科技股份有限公司（以下简称"公司"）控股股东、 实际控制人之一兼董事长熊俊先生拟自 2025 年 4 月 12 日起 12 个月内，通过上 海证券交易所交易系统与香港联合交易所有限公司允许的方式（包括但不限于集 中竞价和大宗交易等方式）增持公司 A 股股份及 H 股股份，合计增持金额不低 于人民币 1 亿元，其中 A 股增持金额不低于人民币 5,000 万元。 截至本公告披露日，熊俊先生通过上海证券交易所系统以集中竞价方式 累计增持公司 A 股股份 365,382 股，约占公司总股本的 0.04%，累计成交总额为 人民币 12,206,579.60 元。本次增持计划尚未实施完毕，熊俊先生将继续按照相 关增持计划，在增持计划实施期间内择机增持公司股份。 本次增持计 ...

Investment Rating - The investment rating for the pharmaceutical industry is "Positive" (maintained) [4][5] Core Viewpoints - The report emphasizes the importance of the PD1 plus track, highlighting numerous catalysts and opportunities within this segment. It suggests a focus on price increase expectations and the strong fundamentals of innovative drugs, indicating a favorable risk-reward ratio for certain stocks [3][5][44] - The report outlines a two-dimensional investment framework for the year, focusing on "technology innovation leadership" and "performance/valuation recovery" [6][25][44] Summary by Sections 1. Focus on Domestic Second-Generation PD1 Progress - Kangfang Biopharma's AK112 is expected to read out key clinical data for NSCLC in 2026, with global registration clinical trials accelerating [8][9] 2. Industry Viewpoints - The pharmaceutical index has shown a decline of 0.22% from March 9 to March 13, with a relative underperformance of -0.41% compared to the CSI 300 index. Notable stock performances include Yingke Medical (+35.18%) and Zhonghong Medical (+25.26%) [5][25][26] - The report identifies several companies to watch, including Heng Rui Medicine, Xin Li Tai, and Junshi Biosciences, among others, for their strong fundamentals and growth potential [5][47] 3. Investment Recommendations - The report suggests a focus on innovative drugs, AI medical technology, and surgical robots, with specific companies highlighted for their potential in these areas [44][46] - Recommendations for March include Heng Rui Medicine, Xin Li Tai, and others, while a weekly focus includes Kangfang Biopharma and Shanghai Yizhong [47]