Core Viewpoint - Genting New Year (01952) saw a significant increase of over 4% in its stock price, attributed to the announcement of two strategic cooperation agreements with Haisen Biopharmaceutical Co., Ltd. [1] Group 1: Strategic Cooperation Agreements - Genting New Year’s wholly-owned subsidiary, Genting New Year Pharmaceutical Technology Co., Ltd., signed two strategic cooperation agreements with Haisen Biopharmaceutical [1] - Under the commercialization service agreement, Genting New Year Pharmaceutical Technology will leverage its existing sales and marketing system to provide commercialization services for six mature products from Haisen Biopharmaceutical, focusing on critical care, cardiovascular, and metabolic fields [1] Group 2: Licensing Agreement - The licensing agreement grants Genting New Year Pharmaceutical Technology exclusive rights to conduct further clinical development, registration, and commercialization of Lerodalcibep in Greater China, enhancing its late-stage pipeline [1] - Genting New Year Pharmaceutical Technology will make an initial payment of approximately 205 million yuan, with potential development and regulatory milestone payments not exceeding 212 million yuan, and potential sales milestone payments not exceeding 1.977 billion yuan, along with royalties based on net sales [1]

Group 1 - The core viewpoint of the news is that CloudTop New Horizon has signed two strategic cooperation agreements with Haisen Biopharmaceutical, which will enhance operational efficiency and commercial capabilities in the cardiovascular disease sector [1][2] - The commercialization service agreement allows CloudTop New Horizon to provide services for six mature products from Haisen Biopharmaceutical, with service fees ranging from 20% to 55% of the quarterly net sales [1] - The annual transaction caps for Haisen Biopharmaceutical are set at RMB 560 million for 2026, RMB 616 million for 2027, and RMB 677 million for 2028 [1] Group 2 - The licensing agreement grants CloudTop New Horizon exclusive rights to develop, register, and commercialize Lerodalcibep in Greater China, enhancing its late-stage pipeline [2] - An initial payment of approximately RMB 205 million will be made by CloudTop New Horizon, along with potential milestone payments totaling up to RMB 2.12 billion for development and regulatory milestones, and up to RMB 19.77 billion for sales milestones [2] - Lerodalcibep is a third-generation PCSK9 inhibitor developed by LIB Therapeutics, aimed at lowering LDL-C levels in patients with high cholesterol [2]

Core Insights - CloudTop New Horizon Limited has signed two strategic cooperation agreements with Haisen Biopharmaceutical Co., Ltd, which will enhance operational efficiency and accelerate commercialization capabilities in the cardiovascular disease sector [2][3] Group 1: Strategic Agreements - The commercial service agreement allows CloudTop New Horizon to provide commercialization services for six mature products from Haisen Biopharmaceutical, with service fees ranging from 20% to 55% of quarterly net sales [3] - The annual transaction cap for Haisen Biopharmaceutical is set at CNY 560 million for 2026, CNY 616 million for 2027, and CNY 677 million for 2028 [3] Group 2: Licensing Agreement - The licensing agreement grants CloudTop New Horizon exclusive rights for the clinical development, registration, and commercialization of Lerodalcibep in Greater China, with an initial payment of approximately CNY 205 million [4] - Potential milestone payments could reach up to CNY 2.12 billion for development and regulatory milestones, and CNY 19.77 billion for sales milestones, along with royalties based on net sales [4] Group 3: Product Development and Market Position - CloudTop New Horizon has established a commercial platform focused on high-potential markets, with its flagship product, Naisukang, achieving sales exceeding CNY 1 billion by Q3 2025, prompting an upward revision of revenue expectations [5] - The next major product, Aiqumote, is expected to be approved for market launch in the first half of 2026, contributing to the company's profitability [5] - Recent strategic moves include increasing stakes in XinQiao Biotech and introducing VIS-101, indicating a focus on expanding into new therapeutic areas [5]

Core Insights - CloudTop New Horizon (HKEX: 1952) has signed two strategic cooperation agreements with Haisen Biotech, which are expected to create significant financial and strategic synergies, enhancing the operational efficiency of its commercialization platform and accelerating the commercialization capabilities in the cardiovascular disease sector [1][3] Group 1: Agreements Overview - The commercialization service agreement allows CloudTop New Horizon to provide commercialization services for six mature products from Haisen Biotech, covering critical care, cardiovascular, and metabolic treatment areas, with service fees ranging from 20% to 55% of quarterly net sales [1][2] - The licensing agreement grants CloudTop New Horizon exclusive rights for the further clinical development, registration, and commercialization of Lerodalcibep in Greater China, a third-generation PCSK9 inhibitor [2][3] Group 2: Product and Market Potential - Lerodalcibep offers advantages such as a monthly injection and small volume subcutaneous administration, addressing issues of high dosing frequency and storage convenience, which significantly enhances patient compliance [2][3] - Clinical trials involving over 2,500 patients demonstrate that Lerodalcibep can reduce LDL-C levels by over 60% in cardiovascular disease patients and over 55% in patients with familial hypercholesterolemia [2] - The PCSK9 inhibitor market in China is projected to grow rapidly, with an estimated market size of approximately 3 billion yuan in 2024, reflecting a year-on-year increase of 95%, and expected to reach 10 billion yuan by 2030 [3] Group 3: Strategic Implications - The agreements are expected to solidify CloudTop New Horizon's commercialization foundation in China, enhance market share, and inject core growth drivers into its cardiovascular business [3][4] - The collaboration reflects a strategic shift in the industry, where Chinese innovative pharmaceutical companies are transitioning from single product development to platform and diversified strategies [4]

Core Insights - Cloudtop New Horizon (HKEX 1952.HK) has signed two strategic cooperation agreements with Haisen Biopharmaceutical Co., Ltd., which will enhance operational efficiency and commercial capabilities in the cardiovascular disease sector [1][3] Group 1: Strategic Agreements - The commercial service agreement allows Cloudtop New Horizon to leverage its existing sales and marketing system to provide commercialization services for six mature products from Haisen Biopharmaceutical, focusing on critical care, cardiovascular, and metabolic fields [1] - The licensing agreement grants Cloudtop New Horizon exclusive rights for the clinical development, registration, and commercialization of Lerodalcibep in Greater China, enriching its late-stage pipeline [1] Group 2: Financial Terms - Under the licensing agreement, Cloudtop New Horizon will make an initial payment of approximately 205 million yuan, with potential milestone payments not exceeding 212 million yuan for development and regulatory milestones, and up to 1.977 billion yuan for sales milestones, along with potential royalties based on net sales [1] Group 3: Product Overview - Lerodalcibep, developed by LIB Therapeutics, is a third-generation PCSK9 inhibitor designed to lower LDL-C levels in patients with high cholesterol, including heterozygous familial hypercholesterolemia [2] - The product is designed for convenient monthly subcutaneous injection and has shown significant efficacy in clinical trials, with applications submitted to the FDA and EMA, and a BLA submission expected in mid-2026 in Greater China [2] Group 4: Industry Implications - This collaboration is seen as a critical step in strengthening Cloudtop New Horizon's full industry chain layout, aligning with its long-term development strategy and enhancing its core competitiveness [3]

本文源自：金融界AI电报 云顶新耀(01952.HK)公布，于2025年12月11日，云顶新耀医药科技有限公司(公司的全资附属公司)与海 森生物订立商业化服务协议，据此，该附属公司将于中国就产品提供CSO服务。 ...

Group 1 - The company announced a commercialization service agreement with Haisen Bio, effective December 11, 2025, allowing the company to provide CSO services in China [1] - The board believes that this agreement will create synergies in regions and customer groups not fully covered by Haisen Bio, enhance product lifecycle management, and generate recurring service fee income from CSO services [1] - The company expects to leverage its existing infrastructure, sales team, and key customer relationships to create incremental sales and improve the scale, experience, and efficiency of its commercial organization [1] Group 2 - The company has also entered into an exclusive licensing agreement with Haisen Bio, granting limited rights to develop, commercialize, and sell licensed compounds and products in the specified region [1] - Mr. Sun Xin has been appointed as a non-executive director, effective December 11, 2025 [2]

Group 1 - Company entered into a commercialization service agreement with Haisen Bio, effective December 11, 2025, to provide CSO services in China [1] - The agreement aims to create synergies in regions and customer groups not fully covered by Haisen Bio, enhancing product lifecycle management and commercialization capabilities [1] - The company expects to generate recurring service fee income from CSO services, improving the utilization and productivity of its existing commercial platform [1] Group 2 - An exclusive, non-transferable license agreement was established with Haisen Bio, allowing the company to develop, commercialize, and sell licensed compounds and products in the designated region [1] - The agreement includes limited rights to sublicense based on the licensor's patents and proprietary technology [1] Group 3 - Mr. Sun Xin has been appointed as a non-executive director, effective December 11, 2025 [2]

獨立非執行董事 執行董事 吳以芳先生 （ 主席 ） 羅永慶先生 （ 首席執行官 ） 何穎先生 （ 總裁、首席財務官 ） 非執行董事 傅唯先生 （ 榮譽主席 ） 曹基哲先生 孫欣先生 （於開曼群島註冊成立的有限公司） （股份代號：1952） Everest Medicines Limited 雲 頂 新 耀 有 限 公 司 董事名單及其角色和職能 雲頂新耀有限公司（「本公司」）的董事會（「董事會」）成員載列如下。 徐海音女士 李軼梵先生 蔣世東先生 董事會設有三個委員會。下表載列該等委員會的成員詳情。 | 董事 | 審核委員會 | 薪酬委員會 | 提名委員會 | | --- | --- | --- | --- | | 吳以芳先生 | | 成員 | 主席 | | 羅永慶先生 | | | | | 何穎先生 | | | | | 傅唯先生 | | | | | 曹基哲先生 | | | | | 孫欣先生 | | | | | 徐海音女士 | 成員 | 主席 | 成員 | | 李軼梵先生 | 主席 | | 成員 | | 蔣世東先生 | 成員 | 成員 | | 香港，2025年12月11日 ...

（於開曼群島註冊成立的有限公司） （股份代號：1952） Everest Medicines Limited 雲 頂 新 耀 有 限 公 司 (1)有關商業化服務協議的持續關連交易； (2)有關授權許可協議的關連交易；及 (3)委任非執行董事 (1) 有關商業化服務協議的持續關連交易 董事會欣然宣佈，於2025年12月11日，該附屬公司（ 本公司的全資附屬公司 ） 與 海 森 生 物 訂 立 商 業 化 服 務 協 議 ， 據 此 ， 該 附 屬 公 司 將 於 中 國 就 產 品 提 供 CSO服務（ 定義見下文 ）。商業化服務協議的主要條款載列如下。 – 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，概不對因本公告全部或任何部份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。 日期： 2025年12月11日 訂約方： (i) 該附屬公司；及 (ii) 海森生物 期限 在訂約各方遵守適用法律（ 包括但不限於上市規則 ）的前提下，(i)商業化服務 協議期限應自生效日期起生效，初步持續有效為期三年，除非根據商業化服 務 ...