云顶新耀(01952)发布公告，根据配售及认购协议的条款及条件，配售事项已于2025年7月30日完成，其 中合共2256.1万股待售股份已由配售代理尽力成功配售予不少于六名承配人，每股待售股份的购买价为 69.70港元。 由于完成认购事项的所有条件已达成，故公司根据配售及认购协议的条款及条件于2025年8月1日按每股 认购股份69.70港元配发及发行2256.1万股认购股份予卖方。 ...

由于完成认购事项的所有条件已达成，故公司根据配售及认购协议的条款及条件于2025年8月1日按每股 认购股份69.70港元配发及发行2256.1万股认购股份予卖方。 智通财经APP讯，云顶新耀(01952)发布公告，根据配售及认购协议的条款及条件，配售事项已于2025年 7月30日完成，其中合共2256.1万股待售股份已由配售代理尽力成功配售予不少于六名承配人，每股待 售股份的购买价为69.70港元。 ...

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： 雲頂新耀有限公司 呈交日期： 2025年8月1日 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) | | 01952 | 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 | 每股發行/出售價 ...

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分內容而產生或因依賴該 等內容而引致的任何損失承擔任何責任。 本公告或其任何副本概不得直接或間接在美國或在刊發或派發本公告可能屬違法的任何其他司法 管轄權區內刊發或派發。 本公告僅供參考之用，並不構成收購、購買或認購本公司任何證券之邀請或要約。 本公告並不構成在美國購買或認購任何證券之要約或招攬，亦不構成其一部分。本公告所述證券 並無且將不會根據美國《1933年證券法》（「美國證券法」）登記，及不得在美國提呈或出售，除非根 據美國證券法作出登記或獲豁免或為毋須根據美國證券法作出登記之交易。本公司無意根據美國 證券法登記本公告內所述之任何證券或在美國進行證券之公開發售。 （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 完成根據一般授權配售現有股份及以先舊後新方式認購新股份 茲 提 述本 公 司 於2025 年 7 月25 日 就配 售 事 項 及認 購 事 項刊 發 之 公 ...

Core Insights - The report maintains a positive outlook on small molecule drug conjugates (SMDCs) and related companies, highlighting their potential in cancer treatment due to their ability to enhance efficacy while reducing toxicity [1][5][17] - The report emphasizes the clinical advantages of SMDCs, including better tumor penetration, reduced toxicity to normal cells, and easier control over synthesis and costs compared to antibody-drug conjugates (ADCs) [5][11][12] - The report identifies domestic biopharmaceutical companies, particularly Affinivax, as leaders in the SMDC space, showcasing significant advancements in innovative cancer drug development [5][12][17] Industry Overview - The pharmaceutical and biotechnology sector has shown a relative price-to-earnings (P/E) ratio of 51.14 as of July 25, 2025, which is significantly higher than its historical low of 24.38, indicating a premium valuation compared to the broader market [19] - The report notes that the healthcare sector's valuation is 279% higher than the Shanghai Composite Index, reflecting strong investor interest and confidence in the industry [19] - Recent market performance indicates a 1.90% increase in the pharmaceutical and biotechnology sector from July 21 to July 25, 2025, ranking it 16th among 27 sub-industries [26][29] Company Focus - The report suggests monitoring companies involved in the SMDC space, including Affinivax, and those collaborating with them, such as Innovent Biologics and others, which are expected to benefit from the growing interest in innovative cancer therapies [5][17][18] - Specific companies highlighted for their innovative drug development capabilities include Innovent Biologics, Shunyi Pharmaceutical, and others, which are positioned to capitalize on the advancements in SMDC technology [5][18]

Investment Rating - The report does not explicitly state an investment rating for the industry, but it provides insights into market performance and trends [2][4]. Core Insights - The pharmaceutical and biotechnology sector saw a weekly increase of 1.9%, underperforming the Wind All A index (2.21%) but outperforming the CSI 300 index [2][7]. - The medical research outsourcing segment experienced the highest growth at 8.29%, while chemical preparations and other biological products faced declines of -2.02% and -0.58%, respectively [2][8]. - The Quark Health model achieved a significant milestone by passing the written assessment for chief physician in 12 core disciplines, marking a rapid development phase for medical AI models in China [2][11]. - State-owned equity funds are actively acquiring stakes in pharmaceutical companies, with notable transactions including the acquisition of Kanghua Biological and a significant stake in MicroPort Medical [2][11]. Summary by Sections Market Weekly Review - The pharmaceutical and biotechnology sector rose by 1.9% from July 21 to July 25, 2025, with medical research outsourcing leading the gains at 8.29% [2][7]. - Individual stocks such as Haitai Biological (46.9%), Zhendong Pharmaceutical (42.9%), and Saily Medical (31.7%) saw significant increases, while *ST Suwu (-22.3%) and Yong'an Pharmaceutical (-13.7%) faced notable declines [2][10]. Industry News and Key Company Announcements Important Industry Events - The National Medical Insurance Administration announced new measures to optimize drug procurement, emphasizing quality over lowest price and launching a nationwide drug price comparison tool [2][11]. Industry News - Shanghai Biopharmaceutical M&A Fund is set to acquire shares in MicroPort Medical, becoming a strategic shareholder [2][11]. - Kangfang Biologics' new indication application for Ivoris monoclonal antibody has been accepted by the National Medical Products Administration [2][11]. Company Announcements - WuXi Biologics reported a positive mid-year earnings forecast, expecting a 16% revenue increase and a 3.6% rise in gross margin [2][14]. - The Quark Health model's capabilities continue to align closely with human physicians, marking a significant advancement in AI healthcare applications [2][14]. - WuXi AppTec and other companies reported substantial revenue growth, with WuXi AppTec expecting over 60% growth in the first half of 2025 [2][14].

Group 1 - Company Genscript Biotech (stock code: 1952) announced a financing plan through the placement of existing shares and subscription for new shares, raising approximately HKD 1.57 billion, netting about HKD 1.55 billion after expenses [1][2] - The placement involves issuing 22,561,000 shares at a price of HKD 69.70 per share, representing a discount of approximately 10.1% to the last closing price of HKD 77.55 and a 5.0% discount to the average closing price of HKD 73.35 over the preceding five trading days [1] - The number of shares being placed corresponds to about 6.87% of the total issued shares as of the announcement date, and approximately 6.43% of the total issued shares after the completion of the subscription [1] Group 2 - The funds raised will be allocated as follows: approximately HKD 780 million for global research and development of pipeline products, around HKD 620 million for commercialization efforts, and about HKD 160 million for general operational and administrative expenses [2] - The issuance is conducted under a general mandate granted by the shareholders, with the subscription expected to complete on the second business day after the last condition is met, but no later than 10 days after the placement and subscription agreement date [2]

Core Viewpoint - Company announced a placement and subscription agreement to raise approximately HKD 15.725 billion, enhancing its capital base for long-term development and drug pipeline funding [1][2] Group 1: Placement and Subscription Details - The seller, C-Bridge IV Investment Two Limited, will sell 22.561 million shares at a price of HKD 69.70 per share, representing about 6.87% of the total issued shares as of the announcement date [1] - The subscription shares will equal the number of shares sold, leading to an enlarged total issued share capital of approximately 6.43% post-completion [1] Group 2: Use of Proceeds - The net proceeds from the placement and subscription are expected to be around HKD 15.534 billion, which will be allocated as follows: 50% for global R&D of pipeline products, 40% for commercialization efforts including new product launches, and 10% for general administrative expenses [2]

Group 1 - Company announced a placement and subscription agreement to sell 22.561 million existing shares, representing approximately 6.87% of the total issued shares as of the announcement date [1] - The purchase price is set at a discount of about 10.12% to the closing price of HKD 77.55 per share on the last trading day before the agreement [1] - The total expected proceeds from the placement and subscription are approximately HKD 1.573 billion, with net proceeds estimated at HKD 1.553 billion [2] Group 2 - The company plans to allocate 50% of the net proceeds for global research and development of pipeline products, 40% for commercialization efforts, and 10% for general administrative expenses [2] - The board believes that the placement and subscription provide an opportunity for further fundraising, which is beneficial for the long-term development of the group [2] - The initiative aims to attract long-term international institutional shareholders, enhance shareholder base, improve trading liquidity, and provide additional funding for drug pipeline development [2]

Core Viewpoint - The Hong Kong pharmaceutical stocks are experiencing a strong performance, with notable gains in several companies [1] Company Performance - Sanofi Pharmaceutical-B (02257.HK) increased by 5.50% - Kangfang Biotech (09926.HK) rose by 5.23% - Genscript Biotech (01952.HK) saw a rise of 4.38% - Fudan Zhangjiang (01349.HK) grew by 4.21% [1]