Core Viewpoint - Junshi Biosciences (688180.SH) announced that its product JS001sc, a subcutaneous injection of Toripalimab, has met the primary endpoint in a Phase III clinical trial for the treatment of recurrent or metastatic non-squamous non-small cell lung cancer, and plans to submit a marketing authorization application soon [1] Group 1 - The clinical trial (JS001sc-002-III-NSCLC) is a multicenter, open-label, randomized controlled study comparing JS001sc with Toripalimab injection (trade name: Tuoyi®) in combination with chemotherapy [1] - JS001sc is developed based on the already marketed Toripalimab injection and is the first domestic PD-1 monoclonal antibody subcutaneous formulation to enter Phase III clinical trials [1] - The new formulation is expected to provide convenience for patients in terms of medication administration [1]

上海君实生物医药科技股份有限公司 自愿披露关于 JS001sc 一线治疗非鳞状非小细胞肺癌 的Ⅲ期临床研究达到主要研究终点的公告 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。 近日，上海君实生物医药科技股份有限公司（以下简称"公司"）产品特瑞 普利单抗注射液（皮下注射）（代号：JS001sc）对比特瑞普利单抗注射液（商 品名：拓益®，产品代号：JS001）联合化疗一线治疗复发或转移性非鳞状非小细 胞肺癌的多中心、开放、随机对照 III 期临床研究（JS001sc-002-III-NSCLC 研究， NCT06505837）达到主要研究终点。公司计划将于近期向监管部门递交该产品的 上市许可申请。由于药品的研发周期长、审批环节多，容易受到一些不确定性因 素的影响，敬请广大投资者谨慎决策，注意防范投资风险。现将相关情况公告如 下。 一、药品基本情况 证券代码：688180 证券简称：君实生物 公告编号：临 2025-067 JS001sc-002-III-NSCLC 研究是一项多中心、开放、随机对照的 III 期临床研 究，为 ...

来源：新浪证券-红岸工作室 11月21日，君实生物跌2.91%，成交额3.10亿元。两融数据显示，当日君实生物获融资买入额1625.62万 元，融资偿还2252.64万元，融资净买入-627.02万元。截至11月21日，君实生物融资融券余额合计13.88 亿元。 截至9月30日，君实生物股东户数3.59万，较上期增加15.17%；人均流通股21361股，较上期减少 12.96%。2025年1月-9月，君实生物实现营业收入18.06亿元，同比增长42.06%；归母净利润-5.96亿元， 同比增长35.72%。 机构持仓方面，截止2025年9月30日，君实生物十大流通股东中，易方达上证科创板50ETF（588080） 位居第七大流通股东，持股1939.29万股，相比上期减少282.03万股。华夏上证科创板50成份ETF （588000）位居第八大流通股东，持股1897.20万股，相比上期减少1074.47万股。 融券方面，君实生物11月21日融券偿还1109.00股，融券卖出4440.00股，按当日收盘价计算，卖出金额 15.87万元；融券余量32.07万股，融券余额1146.45万元，超过近一年90%分位水平， ...

Core Viewpoint - The establishment of the Anhui Gaotou Guotai Haitong Health M&A Equity Investment Fund Partnership (Limited Partnership) with a capital contribution of 500 million yuan indicates a strategic move towards private equity investment in the health sector [1] Group 1 - The newly formed fund will engage in activities such as private equity investment, investment management, and asset management [1] - The fund is co-funded by Junshi Biosciences and Guotai Haitong's wholly-owned subsidiary, Guotai Junan Innovation Investment Co., Ltd. [1]

Core Insights - The top three companies with the highest short positions as of November 14 are Vanke Enterprises (02202), COSCO Shipping Holdings (01919), and ZTE Corporation (00763) with short ratios of 17.68%, 16.49%, and 16.03% respectively [1][2] - The companies with the largest absolute increase in short positions include GCL-Poly Energy (03800), Dongfang Electric (01072), and Hansoh Pharmaceutical (01276), with increases of 1.99%, 1.54%, and 1.35% respectively [1][2] - The companies with the largest absolute decrease in short positions are Ganfeng Lithium (01772), ZTE Corporation (00763), and Samsonite (01910), with decreases of -2.53%, -1.02%, and -0.95% respectively [1][2] Top 10 Short Positions - The top 10 companies with the highest short ratios include Vanke Enterprises (02202) at 17.68%, COSCO Shipping Holdings (01919) at 16.49%, and ZTE Corporation (00763) at 16.03% [2] - Other notable companies in the top 10 include Heng Rui Pharmaceutical (01276) at 15.64% and Ping An Insurance (02318) at 13.66% [2] Changes in Short Positions - The companies with the largest increases in short ratios include GCL-Poly Energy (03800) from 6.87% to 8.86%, Dongfang Electric (01072) from 8.67% to 10.21%, and Heng Rui Pharmaceutical (01276) from 14.30% to 15.64% [2] - Conversely, the companies with the largest decreases in short ratios include Ganfeng Lithium (01772) from 11.32% to 8.79%, ZTE Corporation (00763) from 17.05% to 16.03%, and Samsonite (01910) from 6.67% to 5.72% [2][3]

Core Viewpoint - The establishment of the Anhui Gaotou Guotai Haitong Health M&A Equity Investment Fund marks a significant move in the private equity investment landscape, with a total capital contribution of 500 million RMB [1] Group 1: Fund Details - The fund is a limited partnership, with the managing partner being Junshi Venture Capital (Hainan) Co., Ltd. and Guotai Junan Innovation Investment Co., Ltd. [1] - The fund's operational scope includes private equity investment, investment management, and asset management activities [1] Group 2: Contributors - The fund is jointly funded by Junshi Biological, Anhui Small and Medium Enterprises Development Phase II Fund Co., Ltd., and Guotai Junan Innovation Investment Co., Ltd. [1]

资料显示，上海君实生物医药科技股份有限公司位于上海市浦东新区平家桥路100弄6号7幢16层,香港铜 锣湾希慎道33号利园1期19楼1918室，成立日期2012年12月27日，上市日期2020年7月15日，公司主营业 务涉及单克隆抗体药物和其他治疗型蛋白药物的研发与产业化,单克隆抗体药物研发的技术服务与技术 转让等。主营业务收入构成为：药品销售90.67%，技术许可及特许权使用收入8.74%，技术服务及其他 0.59%。 截至9月30日，君实生物股东户数3.59万，较上期增加15.17%；人均流通股21361股，较上期减少 12.96%。2025年1月-9月，君实生物实现营业收入18.06亿元，同比增长42.06%；归母净利润-5.96亿元， 同比增长35.72%。 来源：新浪证券-红岸工作室 11月18日，君实生物跌1.76%，成交额2.74亿元。两融数据显示，当日君实生物获融资买入额2598.19万 元，融资偿还1861.26万元，融资净买入736.93万元。截至11月18日，君实生物融资融券余额合计14.06 亿元。 融资方面，君实生物当日融资买入2598.19万元。当前融资余额13.94亿元，占流通市值 ...

Core Viewpoint - The company, Junshi Biosciences, is focused on becoming a leading innovative pharmaceutical company with a complete industry chain capability, from drug discovery to commercialization, aiming for global reach [2]. Group 1: Company Overview - Junshi Biosciences has developed a strong portfolio of innovative drugs, including the first domestically approved PD-1 monoclonal antibody, Toripalimab, which has received approval for 11 indications in mainland China and is also approved in multiple countries [2]. - The company is actively involved in the development of vaccines, including monkeypox and Zika vaccines, in collaboration with research institutions and universities [3]. - As of September 30, 2025, Junshi Biosciences reported a 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 growth of 35.72% [8]. Group 2: Market Performance - On November 18, the stock price of Junshi Biosciences fell by 1.76%, with a trading volume of 274 million yuan and a turnover rate of 0.95%, resulting in a total market capitalization of 38.398 billion yuan [1]. - The stock has seen a net outflow of 46.6163 million yuan from major investors, indicating a trend of reduced holdings over the past three days [4][5]. - The average trading cost of the stock is 41.16 yuan, with the current price approaching a resistance level of 37.50 yuan, suggesting potential for a price correction if this level is not surpassed [6].

资金流向方面，主力资金净流出2722.81万元，特大单买入394.77万元，占比2.09%，卖出897.52万元， 占比4.75%；大单买入3021.44万元，占比15.98%，卖出5241.49万元，占比27.73%。 来源：新浪证券-红岸工作室 11月18日，君实生物盘中下跌2.02%，截至13:41，报37.30元/股，成交1.89亿元，换手率0.65%，总市值 382.96亿元。 君实生物今年以来股价涨36.48%，近5个交易日跌2.10%，近20日跌4.33%，近60日跌20.74%。 资料显示，上海君实生物医药科技股份有限公司位于上海市浦东新区平家桥路100弄6号7幢16层,香港铜 锣湾希慎道33号利园1期19楼1918室，成立日期2012年12月27日，上市日期2020年7月15日，公司主营业 务涉及单克隆抗体药物和其他治疗型蛋白药物的研发与产业化,单克隆抗体药物研发的技术服务与技术 转让等。主营业务收入构成为：药品销售90.67%，技术许可及特许权使用收入8.74%，技术服务及其他 0.59%。 君实生物所属申万行业为：医药生物-生物制品-其他生物制品。所属概念板块包括：抗癌药物、抗癌治 癌、 ...

Core Viewpoint - Junshi Biosciences (01877) has seen a nearly 3% increase in stock price, currently trading at 25.14 HKD, with a transaction volume of 5.42 million HKD, driven by strong revenue growth primarily from its drug Toripalimab (Tuoyi) [1] Group 1: Revenue Growth - Junshi Biosciences' revenue growth is centered around Toripalimab, which is expected to generate approximately 1.495 billion CNY in sales in the domestic market by the third quarter of 2025, representing a year-on-year increase of about 40% [1] - As of the third quarter of 2025, Toripalimab has received approval for 12 indications in China, with 10 of these included in the national medical insurance catalog [1] Group 2: Clinical Developments - In the third quarter of 2025, Junshi Biosciences' key pipeline candidate JS207 (a PD-1/VEGF dual antibody) received approval from the US FDA for a Phase II/III clinical trial for neoadjuvant treatment in non-small cell lung cancer patients, while also conducting Phase II studies for colorectal cancer, triple-negative breast cancer, and liver cancer in China [1] - JS107 (Claudin18.2 ADC) has been selected for the latest breakthrough abstract (LBA) at the 2025 ESMO, where updated data from its Phase I clinical study for treating advanced solid tumors will be presented [1]