Group 1 - The Hong Kong innovative drug sector experienced a decline in the afternoon session on September 13, with notable drops in stock prices [1] - Innovent Biologics saw a decrease of over 7%, while Rongchang Biopharmaceutical and Green Leaf Pharmaceutical fell by more than 4% [1] - Other companies such as WuXi Biologics, Junshi Biosciences, and Kelun Pharmaceutical also experienced declines [1]

Core Insights - The article highlights the increasing prevalence of depression in China, with approximately 95 million individuals affected, leading to a booming market for antidepressant medications [5][12][18] - The demand for antidepressants has surged, with sales in public medical institutions exceeding 9.1 billion yuan in the previous year, marking a 6% year-on-year increase [5][7] - The market for antidepressants is becoming increasingly competitive, with numerous domestic pharmaceutical companies entering the space, particularly in the production of generic drugs [13][20] Market Dynamics - The rise in depression cases has created a vibrant pharmaceutical market, with companies like Hansoh Pharmaceutical and Jingwei Pharmaceutical achieving significant sales figures [7][12] - The sales of antidepressants in public hospitals have seen a drastic shift, with domestic companies gaining market share due to price reductions and increased competition [22][24] - The introduction of centralized procurement has led to a significant drop in drug prices, making antidepressants more accessible to patients [19][20][22] Industry Challenges - Despite the growing market, the high cost of psychological therapy remains a barrier for many patients, leading to a preference for medication over therapy [26][27] - The perception of antidepressants as a long-term necessity poses challenges for patient management, with many experiencing withdrawal symptoms when discontinuing medication [26][27] - The industry faces scrutiny over the quality of psychological counseling services, which can vary significantly, impacting patient experiences and outcomes [26][27]

Core Viewpoint - Green Leaf Pharmaceutical (02186) announced the issuance of ordinary shares in exchange for convertible bonds maturing in 2025, indicating a strategic move to manage debt and enhance equity capital [1] Group 1: Convertible Bonds Details - On September 10, 2025, the company will issue 31.75 million ordinary shares at an exchange price of HKD 3.672 per share in exchange for USD 15 million of 5.85% convertible bonds [1] - On the same date, the company will also issue 21.17 million ordinary shares at the same exchange price for USD 10 million of 5.85% convertible bonds [1]

Core Viewpoint - Green Leaf Pharmaceutical (02186) announced the issuance of ordinary shares in exchange for convertible bonds maturing in 2025, indicating a strategic move to manage debt and enhance equity capital [1] Group 1: Convertible Bonds Details - On September 10, 2025, the company will issue 31.75 million ordinary shares at an exchange price of HKD 3.672 per share in relation to the USD 15 million convertible bonds with a 5.85% interest rate [1] - Additionally, on the same date, the company will issue 21.17 million ordinary shares at the same exchange price for USD 10 million convertible bonds also with a 5.85% interest rate [1]

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： 绿叶制药有限公司 呈交日期： 2025年9月10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 。 FF305 確認 根據《主板上市規則》第13.25C條 / 《GEM上市規則》第17.27C條，我們在此確認，據我們所知所信，第一章節所述的每項股份發行或庫存股份出售或轉讓已獲發行人董事會正式授權批准，並遵 照所有適用上市規則、法律及其他監管規定進行，並在適用的情況下： | 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 ...

Core Viewpoint - Green Leaf Pharmaceutical (02186) announced the issuance of 52,919,400 shares on September 9, 2025, due to the conversion of convertible bonds [1] Group 1 - The company will issue a total of 52,919,400 shares as a result of the conversion [1]

Core Points - Green Leaf Pharmaceutical (02186) announced the issuance of 52,919,400 shares due to the conversion of convertible bonds on September 9, 2025 [1] Company Summary - The company is set to issue a total of 52,919,400 shares as a result of the conversion of its convertible bonds [1]

Group 1 - The company, Green Leaf Pharmaceutical (02186.HK), announced the issuance of 52,919,400 shares on September 9, 2025, at an exchange price of HKD 3.672 per share [1] - This issuance is related to the company's convertible bonds maturing in 2025, which have a total value of USD 25 million and an interest rate of 5.85% [1]

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： 绿叶制药有限公司 呈交日期： 2025年9月9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) | 02186 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | | 已發行股份（不包括庫存股 ...

Group 1 - UBS Group AG increased its stake in Green Leaf Pharmaceutical (02186.HK) by purchasing 6.732 million shares at an average price of HKD 3.7949 per share, totaling approximately HKD 25.5473 million [1] - Following this transaction, UBS Group AG's total shareholding in Green Leaf Pharmaceutical rose to 468,669,018 shares, increasing its ownership percentage from 11.88% to 12.05% [1][3] - The transaction occurred on September 2, 2025, as per the latest disclosure from the Hong Kong Stock Exchange [2]