股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 1. 股份分類 普通股 股份類別 不適用 於香港聯交所上市 (註1) 是 證券代號 (如上市) 02155 說明 已發行股份（不包括庫存股份）數目 庫存股份數目 已發行股份總數 上月底結存 1,245,419,000 0 1,245,419,000 增加 / 減少 (-) 0 0 本月底結存 1,245,419,000 0 1,245,419,000 足夠公眾持股量的確認(註4) | 截至月份: | 2026年2月28日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 森松國際控股有限公司 | | | 呈交日期: | 2026年3月2日 | | | I. 法定/註冊股本變動 不適用 | | | | 備註： | | | | 因森松國際控股有限公司("本公司")是於香港註冊成立的公司, "法定股本"之概念不適用於本公司。 | | | FF301 第 1 頁 共 10 頁 v 1.2. ...

森松国际控股有限公司是一家主要从事压力设备的制造及提供综合压力设备解决方案的公司。该公司的 主要产品包括传统压力设备及模块化压力设备。传统压力设备包括换热器、容器、反应器和塔器。模块 化压力设备包括工艺模块及橇块和模块化工厂。该公司还提供压力设备设计、验证及维护服务等增值服 务。该公司于中国国内和海外市场开展业务。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 证券之星消息，2月27日南向资金增持44.7万股森松国际（02155.HK）。近5个交易日中，获南向资金增 持的有5天，累计净增持583.0万股。近20个交易日中，获南向资金增持的有11天，累计净增持429.33万 股。截至目前，南向资金持有森松国际（02155.HK）2.06亿股，占公司已发行普通股的16.55%。 ...

Core Insights - Southbound funds increased their holdings in Sensong International (02155.HK) by 3.241 million shares on February 23, with a total net increase of 6.507 million shares over the last five trading days [1] - Over the past 20 trading days, there have been 11 days of net increases in holdings by southbound funds, totaling 6.2199 million shares [1] - As of now, southbound funds hold 206 million shares of Sensong International, representing 16.51% of the company's total issued ordinary shares [1] Company Overview - Sensong International Holdings Limited primarily engages in the manufacturing of pressure equipment and provides comprehensive pressure equipment solutions [1] - The company's main products include traditional pressure equipment such as heat exchangers, vessels, reactors, and towers, as well as modular pressure equipment including process modules and skid-mounted units [1] - The company also offers value-added services such as design, validation, and maintenance of pressure equipment, operating in both domestic and overseas markets [1]

Investment Rating - The report maintains a "Recommended" rating for the pharmaceutical industry [5] Core Insights - The underlying logic of the current pharmaceutical industry era is innovation and international expansion, with a focus on innovative drugs and technology-driven sectors [2][3] - The report highlights the strong performance of the CRO market and suggests a dual investment strategy focusing on both "0 to 1" technology innovation and low-position stocks [2][3] - The report emphasizes the ongoing trend of BD (Business Development) transactions in innovative drugs, with significant growth expected in 2026 [4][15] Summary by Sections 1. Key Events in the Pharmaceutical Industry During the Spring Festival - Innovative drug BD transactions have seen a strong start, with significant overseas development and registration progress for key products [13][14] - The total amount of BD transactions for innovative drugs in China for 2026 has already surpassed one-third of the total for 2025 [15] - The revision of the National Essential Medicines List Management Measures may signal changes in the essential medicines directory [28] 2. Pharmaceutical Market Review and Hotspot Tracking - The pharmaceutical sector's performance was relatively weak, with a weekly decline of 0.81%, ranking 20th among all industries [34][38] - The total trading volume for pharmaceuticals was 401.12 billion yuan, accounting for 3.83% of the total market, below the historical average of 7.09% [55] - The report notes a rising valuation level for the pharmaceutical industry, with a PE ratio of 29.25, which is below the historical average [52] 3. Stock Performance Review - The report lists the top-performing stocks, including Dongyangguang and Zhendemedical, while highlighting the underperformers like Huayuan Biology and *ST Sailong [58][59]

Group 1 - The core viewpoint of the article highlights the increasing investment interest from southbound funds in Sensong International (02155.HK), with a net increase of 178.53 million shares over the last five trading days [1] - Over the past 20 trading days, southbound funds have increased their holdings in Sensong International on 10 occasions, resulting in a total net increase of 295.3 million shares [1] - As of now, southbound funds hold 201 million shares of Sensong International, which represents 16.17% of the company's total issued ordinary shares [1] Group 2 - Sensong International Holdings Limited primarily engages in the manufacturing of pressure equipment and provides comprehensive pressure equipment solutions [1] - The company's main products include traditional pressure equipment such as heat exchangers, vessels, reactors, and towers, as well as modular pressure equipment including process modules and skid-mounted units [1] - Additionally, the company offers value-added services such as design, validation, and maintenance of pressure equipment, operating in both domestic and overseas markets [1]

Core Viewpoint - Southbound funds have increased their holdings in Sensong International (02155.HK) by 1.362 million shares, indicating growing investor interest in the company [1] Group 1: Southbound Fund Activity - In the last 5 trading days, there were 2 days of net increases in holdings, totaling 595,300 shares [1] - Over the past 20 trading days, there were 9 days of net increases, amounting to 1.455 million shares [1] - Currently, southbound funds hold 201 million shares of Sensong International, representing 16.09% of the company's total issued ordinary shares [1] Group 2: Company Overview - Sensong International Holdings Limited primarily engages in the manufacturing of pressure equipment and provides comprehensive pressure equipment solutions [1] - The company's main products include traditional pressure equipment such as heat exchangers, vessels, reactors, and towers, as well as modular pressure equipment like process modules and skid-mounted units [1] - The company also offers value-added services including design, validation, and maintenance of pressure equipment, operating in both domestic and overseas markets [1]

Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index halting a three-day rally, closing at 27,032.54, down 0.86% [1][2] - The Hang Seng Tech Index fell by 1.65%, while the Hang Seng China Enterprises Index dropped by 1% [1][2] Sector Performance Technology Sector - Major tech stocks saw significant declines, with Meituan and NetEase both dropping over 4%, and Baidu and Tencent falling more than 2% [2][4] - Other tech companies like Kuaishou, Xiaomi, JD.com, and Alibaba also reported losses [2][4] Financial Sector - Financial stocks, including banks, Chinese brokerage firms, and insurance companies, mostly declined, adding pressure to the market [2] Consumer Sector - The restaurant sector faced downturns, with Jiumaojiu falling over 5% and Haidilao dropping more than 3% [6] - The overall consumer demand in the restaurant industry is stabilizing, with expectations for improvement in 2026 [6] Entertainment Sector - The film and entertainment sector was weak, with Emperor Culture Industries dropping nearly 6% [7] Energy Sector - The power equipment sector showed strength, with Harbin Electric rising over 13% [9] - The oil sector was active, with China Petroleum and Sinopec both gaining over 2% [14] Heavy Machinery Sector - Heavy machinery stocks continued to rise, with China National Heavy Duty Truck Group and Sany International both increasing over 5% [12] Semiconductor Sector - Semiconductor stocks saw gains, with Tensun Zhixin and Zhaoyi Innovation both rising over 20% [10] Notable Stocks - Dipo Technology surged by 8.34%, reaching a market value of 29.707 billion HKD [16] - The stock has increased 2.46 times since its IPO price of 26.66 HKD [21]

Core Insights - Southbound funds reduced their holdings in Sensong International (02155.HK) by 111,000 shares on February 11, with a total net reduction of 1.7167 million shares over the past five trading days [1] - Over the last 20 trading days, there were 9 days of net increases in southbound fund holdings, totaling 489,000 shares [1] - Currently, southbound funds hold 199 million shares of Sensong International, representing 15.98% of the company's total issued ordinary shares [1] Company Overview - Sensong International Holdings Limited primarily engages in the manufacturing of pressure equipment and provides comprehensive pressure equipment solutions [1] - The company's main products include traditional pressure equipment such as heat exchangers, vessels, reactors, and towers, as well as modular pressure equipment including process modules and skid-mounted units [1] - The company also offers value-added services such as design, validation, and maintenance of pressure equipment, operating in both domestic and overseas markets [1]

Group 1 - The core point of the article highlights that southbound funds have reduced their holdings in Sensong International (02155.HK) by 758,000 shares on February 9, with a total net reduction of 3.168 million shares over the past five trading days [1] - Over the last 20 trading days, there have been 10 days of net increases in southbound fund holdings, totaling 6.3127 million shares [1] - As of now, southbound funds hold 199 million shares of Sensong International, accounting for 15.97% of the company's total issued ordinary shares [1] Group 2 - Sensong International Holdings Limited primarily engages in the manufacturing of pressure equipment and provides comprehensive pressure equipment solutions [1] - The company's main products include traditional pressure equipment such as heat exchangers, vessels, reactors, and towers, as well as modular pressure equipment including process modules and skid-mounted units [1] - The company also offers value-added services such as design, validation, and maintenance of pressure equipment, operating in both domestic and overseas markets [1]

Group 1 - The core point of the article highlights that southbound funds have reduced their holdings in Sensong International (02155.HK) by 950,000 shares on February 5, with a total net reduction of 4.608 million shares over the past five trading days [1] - Over the last 20 trading days, there have been 11 days of net increases in southbound fund holdings, totaling 8.5437 million shares [1] - As of now, southbound funds hold 200 million shares of Sensong International, representing 16.04% of the company's total issued ordinary shares [1] Group 2 - Sensong International Holdings Limited primarily engages in the manufacturing of pressure equipment and provides comprehensive pressure equipment solutions [1] - The company's main products include traditional pressure equipment such as heat exchangers, vessels, reactors, and towers, as well as modular pressure equipment including process modules and skid-mounted units [1] - Additionally, the company offers value-added services such as design, validation, and maintenance of pressure equipment, operating in both domestic and overseas markets [1]