Group 1: Capital Market Developments - Wu Qing emphasized the need to enhance the inclusiveness and attractiveness of the capital market to better serve high-quality economic development and modernization [1] - The China Securities Regulatory Commission (CSRC) is committed to implementing the "14th Five-Year Plan" for the capital market, focusing on risk prevention, strong regulation, and promoting high-quality development [1] Group 2: Economic Indicators - The U.S. November CPI increased by 2.7%, lower than the expected 3.1%, while the core CPI rose by 2.6%, against an expectation of 3% [2] - Initial jobless claims in the U.S. were reported at 224,000, slightly below the forecast of 225,000 [2] - Following the data release, the likelihood of a Federal Reserve rate cut in January rose from 26.6% to 28.8% [2][6] Group 3: IPO and Market Activities - Shenzhen Dapu Microelectronics is set to undergo an IPO review on December 25, marking the first IPO of an unprofitable company on the ChiNext board [3] - The company reported cumulative losses of 1.566 billion yuan from 2022 to the first half of 2025 [3] Group 4: Regulatory Updates - The State-owned Assets Supervision and Administration Commission (SASAC) has refined the accountability system for central enterprises, introducing compliance exemption clauses for due diligence in investment [5] - The State Administration for Market Regulation is focusing on optimizing the business environment and addressing "involution" competition to promote healthy market order [8] Group 5: Corporate Announcements - Guo An Quantum's chairman, Lv Pin, passed away at the age of 46, which may impact the company's strategic direction [22] - Feilong Co., Ltd. experienced a stock price surge of 29.02% following the announcement of a share reduction by its controlling shareholder [18] - Puyang Co. acquired a 15.28% stake in Xinjiang Qinxiong for 10 million yuan, increasing its ownership from 52.49% to 67.77% [20] - Chicheng Co. plans to invest up to 80 million yuan of idle funds in short-term cash management products to enhance capital efficiency [21] - Master Kong's CEO, Chen Yingrang, will retire, with Wei Hongcheng, the founder's son, taking over as CEO starting January 1, 2026 [22]

Group 1: Eli Lilly - Eli Lilly has submitted a new oral weight loss drug, orforglipron, for FDA approval, indicating a competitive edge in the weight loss medication market [1] - Participants switching from Novo Nordisk's Wegovy to orforglipron maintained most of their weight loss, with an average rebound of only 0.9 kg [1] Group 2: Fosun Pharma - Fosun Pharma's subsidiary has signed a collaboration agreement with Clavis Bio, which could yield up to $363 million in payments [2] - Clavis Bio will have exclusive global rights (excluding mainland China, Hong Kong, and Macau) for development, production, and commercialization of the selected targets [2] - Fosun Pharma will also gain a minority stake in a new project company established by Clavis Bio for this collaboration [2] Group 3: Baidu - Baidu has announced plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy and competitiveness [3] - The issuance and listing are subject to shareholder approval and regulatory approvals, with specific details yet to be finalized [3] Group 4: BeiGene - BeiGene has appointed Dr. Wang Lai as the new President and Global Head of R&D, reflecting the company's commitment to innovation in drug development [4] - Dr. Wang has been with BeiGene since 2011 and has progressively taken on more responsibilities in R&D leadership [4] Group 5: Junshi Biosciences - Junshi Biosciences announced that major shareholder Shanghai Tanying plans to reduce its stake by up to 2%, equating to approximately 2,053,380 shares [5] - The reduction is scheduled between January 13, 2026, and April 10, 2026, despite the shareholder's long-term confidence in the company's prospects [5]

Group 1 - China's Hainan Free Trade Port officially launched its zero-tariff operation on December 18, expanding the range of zero-tariff goods to over 6,600 items, enhancing consumer experience for travel and shopping [2] - The Ministry of Commerce has reintroduced export license management for steel for the first time in 16 years to strengthen monitoring and analysis of steel product exports [2] - A giant underwater gold mine has been discovered in Shandong Province, with proven gold reserves of over 3,900 tons, accounting for approximately 26% of the national total [2] Group 2 - The State Administration for Market Regulation emphasizes the need to strengthen the construction of a unified national market and promote fair competition [3] - The U.S. has initiated a military sale to Taiwan valued at approximately $11 billion, marking one of the largest military sales [3] - The State-owned Assets Supervision and Administration Commission has issued guidelines for holding central enterprises accountable for investment violations, effective from January 1, 2026 [3] Group 3 - The China Securities Regulatory Commission is advancing the "14th Five-Year" plan for the capital market, focusing on comprehensive reforms and high-level opening-up [4] - A-share indices showed divergence, with the Shanghai Composite Index closing up 0.16% while the Shenzhen Component Index and ChiNext Index fell by 1.29% and 2.17%, respectively [4] - The Hong Kong stock market is undergoing a narrow consolidation, with the Hang Seng Index closing up 0.12% [4] Group 4 - Morgan Stanley predicts that chip stocks will remain one of the best-performing sectors in the U.S. stock market next year, highlighting Nvidia, Broadcom, and Astera Labs as top picks [5] - Insurance asset management institutions have registered 83 asset-backed plans this year, totaling approximately 344.56 billion yuan [5] - Domestic GPU companies, Moore Threads and Muxi Co., have recently listed on the STAR Market, attracting significant investment from insurance funds [5] Group 5 - A wave of IPOs is expected in the Hong Kong capital market, with several companies starting public offerings on December 18 [6] - The Ministry of Industry and Information Technology announced that the photovoltaic industry will enter a critical phase in 2026, focusing on capacity regulation [8] Group 6 - The State Council has issued guidelines to strengthen electronic cigarette regulation and combat illegal tobacco-related activities [9] - The upcoming New Year's holiday is projected to significantly boost the domestic tourism market, with flight bookings increasing by approximately 46% year-on-year [9] - The total scale of bank wealth management products reached a historical high of about 34 trillion yuan by the end of November [9] Group 7 - The People's Bank of China will issue 40 billion yuan in central bank bills in Hong Kong on December 22, with a maturity of six months [18] - The U.S. Treasury Department reported an increase in Japan's holdings of U.S. Treasury securities to $1.2 trillion in October [18]

Core Viewpoint - The announcement from Junshi Bioscience indicates that shareholder Tan Ying Investment plans to reduce its stake by up to 20.53 million shares, representing 2% of the total share capital, through block trading between January 13, 2026, and April 10, 2026, due to fund duration and liquidity arrangements [1]. Group 1: Shareholder Actions - Tan Ying Investment currently holds 59.45 million shares, accounting for 5.79% of the total share capital [1]. - The initial holding of Tan Ying Investment was 71.45 million shares, which represented 6.96% of the total share capital [2]. - Since June 20, 2025, Tan Ying Investment has cumulatively reduced its holdings by 12 million shares, realizing approximately 526 million yuan [2]. Group 2: Financial Performance - For the period from January to September 2025, Junshi Bioscience reported revenue of 1.806 billion yuan, a year-on-year increase of 42.06%, while the net profit attributable to shareholders was -596 million yuan, reflecting a year-on-year growth of 35.72% [3]. - As of September 30, 2025, the number of shareholders for Junshi Bioscience was 35,900, an increase of 15.17% from the previous period [3]. Group 3: Market Performance - As of the latest report, Junshi Bioscience's stock price has decreased by 1.42%, with a trading volume of 173 million yuan and a turnover rate of 0.63%, bringing the total market capitalization to 36.478 billion yuan [3]. - The stock has experienced a 30% increase year-to-date, but has seen declines of 2.15% over the last five trading days, 3.50% over the last 20 days, and 22.15% over the last 60 days [3].

Group 1 - Haitai Flavor Industry plans to distribute cash dividends of no less than 80% of the net profit attributable to shareholders for the next three years (2025-2027) [2] - Haitai will implement a special dividend plan for 2025, distributing 3.0 yuan (including tax) for every 10 shares [2] Group 2 - Xusheng Group's controlling shareholder is planning a change in control, leading to a suspension of trading for the company's stock starting December 19, 2025 [3] Group 3 - Guandong Quantum's chairman, Lü Pin, has passed away, and the company expresses deep condolences [4] Group 4 - Former controlling shareholder of Guao Technology, Chen Chongjun, has been sentenced to six years in prison for manipulating the securities market, with a fine of 4 million yuan [5] - The company states that this judgment will not significantly impact its operations [5] Group 5 - Tianfeng Securities plans to extend a 4 billion yuan subordinated debt for one year and reduce the interest rate from 5% to 4% [6] Group 6 - Zhongwei Company is planning to acquire controlling stakes in Hangzhou Zhonggui Electronic Technology Co., Ltd., leading to a stock suspension starting December 19, 2025 [7] Group 7 - Shandong Highway intends to provision for a long-term equity investment impairment of approximately 690 million yuan related to Dongxing Securities, which will reduce the company's consolidated profit for 2025 by the same amount [8] Group 8 - HeFu China has experienced a significant stock price increase of 349.25% from October 28 to December 18, 2025, despite being in a loss position [9] - The company warns of risks related to high valuation and operational performance [9] Group 9 - Xizang Pharmaceutical plans to repurchase shares worth between 170 million and 200 million yuan, with a maximum repurchase price of 55 yuan per share [11] Group 10 - Junshi Biological's major shareholder, Shanghai Tanying, plans to reduce its stake by up to 2% through block trading [12] Group 11 - Dazhong Mining's major shareholders and executives plan to reduce their holdings by up to 1.44% due to personal financial needs [13] Group 12 - Ruicheng Environmental Protection's shareholder plans to reduce its stake by up to 3% [14] Group 13 - Allianz Vision's actual controller Xu Jin plans to reduce his stake by up to 0.9609% [15] Group 14 - Yidong Electronics' controlling shareholder's concerted action reduced their holdings by 1% from December 10 to December 17 [16] Group 15 - Ningbo Construction won a project bid worth 747 million yuan for infrastructure enhancement [18] Group 16 - Qinglong Pipe Industry signed a sales contract worth 55.27 million yuan for a water diversion project [19] Group 17 - Zhongfutong received a selection notice for a procurement project with estimated amounts of 411 million yuan and 162 million yuan [20] Group 18 - Shikong Technology won a bid for a smart cultural tourism integration project worth 141 million yuan [21]

Group 1: Shareholding Increase - Dazhong Mining's director and general manager Lin Pusheng plans to increase his shareholding by no less than 15.08 million shares [2] - Sichuan Road and Bridge received a stake increase from Zhongyou Insurance, raising its holding to 5% [2] - Tibet Pharmaceutical intends to repurchase shares worth between 170 million to 200 million yuan for equity incentives or employee stock ownership plans [2] Group 2: Shareholding Decrease - Lidasin's fifth largest shareholder reduced their stake by 1.56% from December 10 to December 17 [2] - WuXi AppTec's 18 shareholders collectively reduced their holdings by 29.5 million shares from November 26 to December 17 [2] - Feilong Co.'s controlling shareholder recently reduced their stake by 0.59% of the total share capital [2] - Ruicheng Huabao's shareholder plans to reduce their stake by no more than 3% [2] - Xuhul Co.'s shareholder Wang Xiaojun and their concerted parties plan to reduce their holdings by no more than 2.98% [2] - Yidong Electronics' third and fifth largest shareholders recently reduced their holdings by 2.3463 million shares [2] - Junshi Biosciences' Shanghai Tanying plans to reduce its stake by no more than 2% [2] - Huahai Chengke's shareholder intends to reduce their stake by no more than 1% [2] - Boshuo Technology's director Yang Chuanqi and executive Zhou Dan plan to reduce their holdings by no more than 0.011% [2] - Allianz Ruishi's shareholder Xu Jiang plans to reduce their stake by no more than 0.96% [2] - Dazhong Mining's shareholders, including those holding over 5%, the chairman, and senior management, plan to reduce their holdings [2]

公告显示，上海檀英持有君实生物股份5945.93万股，股份性质为A股，占公司总股本的5.7914%。 北京商报讯（记者 丁宁）12月18日晚间，君实生物（688180）发布公告称，公司股东上海檀英投资合 伙企业（有限合伙）（以下简称"上海檀英"）长期看好公司的发展，因基金期限与流动性资金安排原 因，计划通过大宗交易的方式减持其持有的公司股份数量不超过2053.38万股，减持比例不超过公司总 股本的2%。 ...

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） 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。 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，2025年12月18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：君实生物 公告编号：临 2025-075 上海君实生物医药科技股份有限公司 关于持股 5%以上股东减持股份计划的公告 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 ...

智通财经APP讯，君实生物(688180.SH)发布公告，上海檀英长期看好公司的发展，因基金期限与流动 性资金安排原因，计划通过大宗交易的方式减持其持有的公司股份数量不超过2053.38万股，减持比例 不超过公司总股本的2%。 ...

大股东持股的基本情况 截至本公告披露日，上海檀英投资合伙企业（有限合伙）（以下简称"上海 檀英"）持有上海君实生物医药科技股份有限公司（以下简称"公司"或"君实 生物"）股份 59,459,326 股，股份性质为 A 股，占公司总股本的 5.7914%。上述 股份为公司首次公开发行股票并在上海证券交易所科创板上市（以下简称"IPO"） 前取得的股份，且已于 2021 年 7 月 15 日起解除限售并上市流通。 证券代码：688180 证券简称：君实生物 公告编号：临 2025-075 上海君实生物医药科技股份有限公司 关于持股 5%以上股东减持股份计划的公告 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： 2 股东名称 上海檀英 股东身份 控股股东、实控人及一致行动人 □是 √否 直接持股 5%以上股东 √是 □否 董事、监事和高级管理人员 □是 √否 其他：不适用 持股数量 59,459,326股 持股比例 5.7914% 当前持股股份来源 IPO 前取得：59,459,326股 上述减持主体 ...