复星医药（02196）早盘高开逾7%，截至发稿，股价上涨6.62%，现报20.62港元，成交额1.38亿港元。 复星医药公布，控股子公司上海复星医药产业发展有限公司（"复星医药产业"）与Expedition Therapeutics， Inc．（"Expedition"）签订《许可协议》，将向Expedition授予小分 根据协议，Expedition将向复星医药产业支付至多1.2亿美元不可退还的首付款、开发里程碑付款，未来还将基于XH-S004于许可区域的年度净销售额的达成情况，由Expedition依约支付至 责任编辑：卢昱君 ...

Group 1: Market Performance - On August 12, A-shares saw a rebound with the three major indices rising, particularly in the medical device and innovative drug sectors [1] - The innovative drug ETF Tianhong (517380) experienced a slight decline of 0.39%, with leading stocks including Fosun Pharma and Renfu Pharmaceutical [1] - The medical device ETF (159873) rose by 1.58%, with significant gains from stocks like Sanxin Medical and Sino Medical [1] Group 2: Fund Flows and ETF Details - The innovative drug ETF Tianhong (517380) has seen continuous net inflows for 12 trading days, accumulating over 186 million yuan [1] - Tianhong is the largest innovative drug ETF in the market, tracking the Hang Seng Shanghai-Shenzhen-Hong Kong Innovative Drug Select 50 Index, which covers both A-shares and Hong Kong stocks [1] - The top ten constituents of the Hang Seng Shanghai-Shenzhen-Hong Kong Innovative Drug 50 Index account for nearly 60% of the index's weight, including high-quality A-share stocks like Innovent Biologics and BeiGene [1] Group 3: Industry Developments - Nudge, a brain-computer interface company, recently completed a $100 million Series A funding round to support its growth and platform expansion [2] - Nudge's platform utilizes non-invasive focused ultrasound technology for precise brain stimulation and imaging, aiming to create an end-to-end brain-computer interface [2] - The National Healthcare Security Administration has introduced pricing guidelines for invasive brain-computer interface procedures, indicating potential growth in the industry [2] Group 4: Insights on Innovative Drug Sector - According to Shenwan Hongyuan, the innovative drug sector has maintained rapid growth in product revenue and external licensing over the past three years [3] - Significant business development transactions have emerged this year, indicating a trend of expanding the innovative drug market [3] - The adjustment of the medical insurance catalog will include commercial insurance for innovative drugs, highlighting potential growth for major innovative drug companies and related CXO companies [3]

Group 1 - The Hang Seng Hong Kong Stock Connect Innovative Drug Selection Index (HSSCPB) increased by 0.02%, with notable stock performances including Jingtai Holdings (02228) up 7.38% and Fosun Pharma (02196) up 6.00% [3] - The Hong Kong Innovative Drug Selection ETF (520690) rose by 0.52%, reaching a latest price of 0.97 yuan, with a trading volume of 240.45 million yuan and a turnover rate of 0.62% [3] - Jingtai Holdings announced an expected comprehensive income of no less than 500 million yuan for the six months ending June 30, 2025, representing an increase of at least 387% compared to the same period in 2024 [3] Group 2 - The Hong Kong Innovative Drug Selection ETF reached a new high in scale at 385 million yuan and a new high in shares at 399 million [4] - The ETF has seen continuous net inflows over the past three days, with a maximum single-day net inflow of 22.93 million yuan, totaling 42.28 million yuan [4] - The ETF's management fee is 0.50% and the custody fee is 0.10%, which are among the lowest in comparable funds [5] Group 3 - The HSSCPB index aims to reflect the performance of Hong Kong-listed companies involved in innovative drug research, development, and production [5] - The top ten weighted stocks in the HSSCPB index account for 78.05% of the total index weight, including companies like BeiGene (06160) and WuXi Biologics (02269) [5]

Core Viewpoint - Fosun Pharma's stock price increased by 7.55% to HKD 20.8 following the announcement of a licensing agreement with Expedition Therapeutics for the development of a DPP-1 inhibitor [1] Group 1: Licensing Agreement Details - Fosun Pharma's subsidiary, Shanghai Fosun Pharmaceutical Industry Development Co., Ltd., signed a licensing agreement with Expedition Therapeutics for the global development, production, and commercialization rights of the DPP-1 inhibitor XH-S004, excluding mainland China and Hong Kong/Macau [1] - Fosun Pharma retains the development, production, and commercialization rights of XH-S004 within mainland China and Hong Kong/Macau [1] Group 2: Financial Terms of the Agreement - Expedition will pay up to USD 120 million in non-refundable upfront payments and milestone payments for development [1] - Additionally, Expedition may pay up to USD 525 million in sales milestone payments based on the annual net sales performance of XH-S004 in the licensed regions [1] Group 3: Clinical Trial Status - XH-S004 is currently in Phase II clinical trials for the treatment of non-cystic fibrosis bronchiectasis in mainland China and in Phase Ib clinical trials for chronic obstructive pulmonary disease (COPD) [1]

11日，沪指盘中震荡上扬，深证成指、创业板指强势拉升。截至收盘，沪指涨0.34%报3647.55点，深证 成指涨1.46%报11291.43点，创业板指涨1.96%报2379.82点，北证50指数涨1.18%，沪深北三市合计成交 18501亿元，较此前一日增加1135亿元。行业方面，医药、地产、家电、汽车、半导体、券商、酿酒等 板块走强，PEEK材料、锂矿、AI产业链股爆发，消费电子、飞行汽车概念等活跃。 东莞证券表示，当前A股市场内流动性相对充裕，交投情绪仍处于高位，整体运行状态较为健康，短期 震荡或为后续行情积蓄动能。考虑到当前市场呈现一定程度的结构分化，前期热门板块已处于相对高 位，板块轮动节奏或进一步加快，把握结构性机会将成为关键。 今日投资机会解析 锂价有望大幅上涨 宁德时代8月11日在投资者互动平台表示，公司在宜春项目采矿许可证8月9日到期后已暂停了开采作 业，正按相关规定尽快办理采矿证延续申请，待获得批复后将尽早恢复生产，该事项对公司整体经营影 响不大。 据宜春自然资源局，宁德时代该锂矿年采矿产能为3300万吨，配套建设的锂盐冶炼厂年产能为10万吨碳 酸锂，停产一个月将影响约8300吨碳酸锂产量 ...

8月11日， 发布公告，控股子公司上海复星医药产业发展有限公司(「复星医药产业」)与Expedition Therapeutics, Inc.("Expedition")签订《许可协议》，将向 Expedition授予小分子口服二肽基肽酶1(DPP-1)抑制剂XH-S004在全球(不包括中国境内及港澳地区)范围的开发、生产及商业化权利。复星医药产业将保留 XH-S004在中国境内及港澳地区的开发、生产及商业化权利。 受到上述利好消息刺激，8月12日，复星医药港股大幅高开，现涨7.55%，股价报20.8港元。 | 最高 | | | | | 20.800 | | 開市 | | | | | 20.800 | 成交量 | | | | 87.35萬 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 最低 | | | | | 20.800 | | 前收 | | | | ...

格隆汇8月12日｜复星医药(600196)H股高开7.55%报20.8港元，创2023年5月以来新高；A股高开5.52% 报28.28元。 XH-S004为复星医药拥有自主知识产权的小分子口服DPP-1抑制剂，其通过抑制DPP-1及其激活的中性 粒细胞丝氨酸蛋白酶降低炎症反应，从而阻断感染恶性循环及由此导致的气道结构损伤。 (责任编辑：宋政 HN002) 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 消息面上，8月11日，复星医药宣布其控股子公司复星医药产业与Expedition签订许可协议，授予后者在 除中国境内及港澳地区以外地区开发、生产及商业化XH-S004的权利。 根据约定，Expedition将就本次合作向复星医药产业支付至多1.2亿美元不可退还的首付款、开发及监管 里程碑付款，此外，基于许可产品于许可区域的年度净销售额达成情况，由Expedition向复星医药产业 依约支付至多5.25亿美元 ...

Market Overview - The overnight performance of US stock indices showed a decline, with the Chinese concept index down by 0.29% [1] - Hong Kong's three major indices opened lower, with the Hang Seng Index down by 0.33%, the National Enterprises Index down by 0.34%, and the Hang Seng Technology Index down by 0.59% [1] Sector Performance - Large technology stocks collectively fell, with Baidu down nearly 2%, Alibaba down 1.43%, and other major players like Meituan, Tencent, and Xiaomi also experiencing declines, while JD.com managed to stay slightly positive [1] - Innovative drug concept stocks saw a rise, highlighted by Fosun Pharma securing a $645 million order, leading to a 7.55% increase in its stock price. Other pharmaceutical companies like Lijun Pharmaceutical, Yunding Xinyao, WuXi AppTec, and China Resources Pharmaceutical also experienced gains [1] - Lithium battery concept stocks continued their upward trend, with Tianqi Lithium Industries rising over 2% and Ganfeng Lithium up by 0.59% [1] - Sectors such as duty-free, automotive, Chinese brokerage firms, steel, and oil & gas equipment stocks generally declined, with China Duty Free Group down nearly 1% [1]

格隆汇8月12日｜复星医药H股高开7.55%报20.8港元，创2023年5月以来新高；A股高开5.52%报28.28元。 消息面上，8月11日，复星医药宣布其控股子公司复星医药产业与Expedition签订许可协议，授予后者在除中国境内及港澳地区以外地区开发、生产及商业 化XH-S004的权利。 XH-S004为复星医药拥有自主知识产权的小分子口服DPP-1抑制剂，其通过抑制DPP-1及其激活的中性粒细胞丝氨酸蛋白酶降低炎症反应，从而阻断感染 恶性循环及由此导致的气道结构损伤。 根据约定，Expedition将就本次合作向复星医药产业支付至多1.2亿美元不可退还的首付款、开发及监管里程碑付款，此外，基于许可产品于许可区域的年 度净销售额达成情况，由Expedition向复星医药产业依约支付至多5.25亿美元的销售里程碑款项。同时，Expedition应根据许可产品于许可区域内的年度净 销售额、按约定百分比和期限向复星医药产业支付特许权使用费。 ...

每经AI快讯，8月12日，截至发稿，复星医药(02196.HK)涨7.55%、晶泰控股(02228.HK)涨3.22%、丽珠 医药(01513.HK)涨2.35%、科伦博泰生物-B(06990.HK)涨1.14%。 ...