Core Insights - Fosun Pharma has signed a licensing agreement with NeuCo for the development and commercialization of AR1001, a small molecule oral drug aimed at delaying the progression of Alzheimer's disease [1][2][3] - The company plans to invest up to 150 million yuan in this collaboration, which includes an upfront payment of 40 million yuan and milestone payments based on regulatory progress [2][3] - Fosun Pharma's R&D investment for 2024 is projected to reach 5.554 billion yuan, enhancing its product pipeline in the central nervous system field [1][3] Financial Performance - In 2024, Fosun Pharma achieved a revenue of 41.07 billion yuan and a net profit of 2.77 billion yuan, with a significant increase in cash flow from operating activities [5][6] - For Q1 2025, the company reported a net profit of 765 million yuan, a year-on-year increase of 25.42%, despite a revenue decline of 7.26% [5] - The pharmaceutical segment remains a key pillar, contributing 28.92 billion yuan, accounting for 70.43% of total revenue in 2024 [5] Global Expansion - Fosun Pharma's overseas revenue reached 11.297 billion yuan in 2024, representing 27.51% of total revenue, with an 8.93% year-on-year growth [5][6] - The company has established a significant presence in international markets, including the US, Europe, Africa, India, and Southeast Asia, with over 1,000 personnel in its overseas commercialization team [5][6] Asset Growth - The total assets of Fosun Pharma increased to 118 billion yuan by the end of Q1 2025, marking a historical high and a 3.78% year-on-year growth [6] - From 2020 to 2024, the company's total assets grew from 83.69 billion yuan to 117.5 billion yuan, reflecting a 40.4% increase during this period [6]

Core Viewpoint - The announcement details a licensing agreement between Fosun Pharma and NewCo for the development, registration, production, and commercialization of the drug AR1001, aimed at treating Alzheimer's disease and other neurological disorders in China and Hong Kong [2][4][20]. Group 1: Agreement Overview - The agreement allows Fosun Pharma's subsidiary to develop and commercialize AR1001, which is currently undergoing Phase III clinical trials globally, including in China [7][8]. - The licensing agreement does not require approval from the company's board or shareholders [5]. - The agreement is not classified as a related party transaction [6]. Group 2: Product Details - AR1001 is an oral drug designed to slow the progression of Alzheimer's disease, with strong PDE-5 inhibition properties [7]. - Clinical trials have shown that AR1001 can clear amyloid plaques associated with Alzheimer's and has potential therapeutic effects for early-stage patients [7]. Group 3: Financial Terms - Fosun Pharma will pay up to RMB 150 million (approximately $22 million) to NewCo, including an upfront payment of RMB 40 million and milestone payments based on regulatory progress [12]. - For localized products, Fosun Pharma will pay a tiered sales milestone based on annual net sales, with a low double-digit percentage sales share to NewCo [12]. Group 4: Strategic Impact - This collaboration aims to enhance Fosun Pharma's product pipeline in the central nervous system field, improving its market position and competitiveness in treating Alzheimer's and other neurological diseases [20].

Company News - China Railway Construction (01186.HK) reported a new contract amount of approximately 1,056.17 billion yuan for the first half of the year, a year-on-year decrease of 4.04% [2] - China Metallurgical Group (01618.HK) announced a new contract amount of 548.2 billion yuan for the first half of the year, down 19.1% year-on-year [2] - Sichuan Chengyu Expressway (00107.HK) won the bid for the G5 Jingkun Expressway Chengdu to Ya'an section expansion project, with a total investment of approximately 28.548 billion yuan [2] - Road King Infrastructure (01098.HK) reported total property sales of 5.232 billion yuan for the first half of the year, a decrease of 28.37% year-on-year [2] - Amax Holdings (00880.HK) plans to acquire a property in Hengqin for 724.2 million yuan to diversify its business portfolio [2] - Chaoyue Eye Hospital (02219.HK) signed a construction contract for the first phase of its comprehensive medical facility project, with a contract value of 223 million yuan [2] - Bay Area Development (00737.HK) reported total toll revenue of 243 million yuan for June, a year-on-year decrease of 4% [2] - Decent Pharmaceuticals-B (06996.HK) received approval for its drug, Hivio®, for the second-line treatment of multiple myeloma in China [2] - Tianchen Holdings (01201.HK) plans to invest 30 million yuan to establish a joint venture in Shenzhen for new energy heavy truck charging stations [2] Performance Summary - WuXi AppTec (02359.HK) reported mid-year revenue of 20.799 billion yuan, a year-on-year increase of 20.64%, and a net profit of 8.561 billion yuan, up 101.92% year-on-year [3] Earnings Announcements - China Nonferrous Mining (01258.HK) issued a profit warning, expecting mid-term net profit of approximately 258 million USD, a year-on-year increase of about 18% [4] - Hualing Pharmaceutical-B (02552.HK) issued a profit warning, expecting mid-term net profit of approximately 1.184 billion yuan, turning from loss to profit [4] - Little Yellow Duck (02250.HK) issued a profit warning, expecting mid-term revenue to increase by over 30% year-on-year [4] - Qingci Games (06633.HK) issued a profit warning, expecting mid-term net profit to increase by approximately 78%-130% year-on-year [4] - Goodbaby International (01086.HK) issued a profit warning, expecting mid-term net profit to decrease by approximately 40%-50% year-on-year [4] - Qianhai Health (00911.HK) issued a profit warning, expecting mid-term net profit to decrease by approximately 60%-70% year-on-year [4] - Tianan Health (00383.HK) issued a profit warning, expecting mid-term net profit to decrease to approximately 7 million to 17 million HKD [4] - Pacific Network (00543.HK) issued a profit warning, expecting mid-term net loss of approximately 5 million to 15 million yuan [4] Buyback and Increase Dynamics - HSBC Holdings (00005.HK) repurchased 348,700 shares for approximately 35.487 million HKD at a price of 101.4-102 HKD [3] - China Eastern Airlines (00670.HK) repurchased 2.5 million shares for approximately 7.4983 million HKD at a price of 2.97-3.03 HKD [3] - Founder Holdings (00418.HK) canceled a total of 17.9962 million shares that had been repurchased [3]

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。 上 海 復 星 醫 藥（ 集 團 ）股 份 有 限 公 司 Shanghai Fosun Pharmaceutical (Group) Co., Ltd.* （於中華人民共和國註冊成立的股份有限公司） （股份代號：02196） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列上海復星醫藥（集團）股份有限公司（「本公司」）在上海證券交易所網站刊登的《關於 控股子公司簽署許可協議的公告》，僅供參閱。 承董事會命 上海復星醫藥（集團）股份有限公司 陳玉卿 中國，上海 2025 年7 月2 8 日 於本公告日期，本公司之執行董事為陳玉卿先生、關曉暉女士、文德鏞先生及王可心先生；本公司之非執行 董事為陳啟宇先生、潘東輝先生及吳以芳先生；本公司之獨立非執行董事為余梓山先生、王全弟先生、Chen Penghui先生及楊玉成先生；以及本公司之職工董事為嚴佳女士。 * 僅供識別 ...

●协议类型：开发、注册、生产及商业化许可等 证券代码：600196 股票简称：复星医药 编号：临 2025-122 上海复星医药（集团）股份有限公司 关于控股子公司签订许可协议的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示 ●协议内容：控股子公司复星医药产业获纽科授予其在研的以 AR1001 分子作为 其活性成分的药物于约定许可区域（即中国境内及港澳地区）及领域（即用于阿尔 茨海默病及其他神经系统疾病的诊断、预防和治疗）的开发、注册、生产及商业化 权利。 ●特别风险提示： 1、许可产品于许可区域的临床开发、注册、生产（如有）、商业化等还须得到 相关监管机构（包括但不限于国家药监局等）的批准。根据国内外药品研发经验， 药品研发是项长期工作，需要经过临床试验、注册等诸多环节，具有不确定性。因 此，许可产品于许可区域能否完成相关临床试验、以及能否获得上市批准，均存在 不确定性。 2、许可产品上市后的销售情况可能受到（包括但不限于）用药需求、市场竞争、 销售渠道等因素影响，存在不确定性。 一、本次合作概述 202 ...

Core Viewpoint - Fosun Pharma has signed a licensing agreement with Nuco for the development of AR1001, a small molecule oral drug aimed at delaying the progression of Alzheimer's disease [1] Group 1: Company Information - Fosun Pharma's subsidiary, Fosun Pharma Industry, is the entity that entered into the licensing agreement with Nuco [1] - The drug AR1001 is characterized by its potent and highly selective inhibition of phosphodiesterase-5 (PDE-5) [1] Group 2: Product Details - AR1001 is intended for use in delaying the progression of Alzheimer's disease [1] - The drug is licensed from AriBio Co., Ltd., which is the upstream licensor for Nuco [1]

Core Viewpoint - Fosun Pharma has signed a licensing agreement with Newco to develop the AR1001 drug for Alzheimer's disease and other neurological disorders in China and Hong Kong, marking a significant step in the company's expansion into this therapeutic area [1] Group 1: Licensing Agreement Details - Fosun Pharma's subsidiary will pay up to 150 million yuan as an upfront payment and regulatory milestone payments for the rights to develop, register, produce, and commercialize AR1001 in the specified regions [1] - The agreement covers the diagnosis, prevention, and treatment of Alzheimer's disease and other neurological disorders [1] Group 2: Market Context - As of the date of the announcement, there are no approved drugs targeting the same mechanism for treating Alzheimer's disease globally, highlighting the potential market opportunity for AR1001 [1]

Group 1 - Fosun Pharma's stock price increased to 26.66 CNY as of July 25, 2025, reflecting a 1.14% rise from the previous week [1] - The company's market capitalization is currently 71.194 billion CNY, ranking 6th in the chemical pharmaceutical sector and 210th in the A-share market [1] Group 2 - Fosun Pharma announced the establishment of a new subsidiary, Xingrui Jingxuan, with an initial registered capital of 133.5 million CNY, aiming to invest in the nuclear medicine sector [2] - Fosun Pharma will hold approximately 89.89% of the new company, which will focus on integrated diagnostic and therapeutic nuclear medicine products in the oncology field [2] Group 3 - The company completed its A-share and H-share repurchase plans, with a total repurchase amount of approximately 348.36 million CNY for A-shares and 47.84 million HKD for H-shares [3] - The A-share repurchase involved 14,228,552 shares, accounting for 0.5328% of the total share capital, while the H-share repurchase involved 3,410,500 shares, accounting for 0.1277% of the total share capital [3] Group 4 - Fosun Pharma will distribute a cash dividend of 0.32 CNY per share (pre-tax) for the 2024 fiscal year, with a total expected payout of approximately 844.66 million CNY [4] - The ex-dividend date is set for August 4, 2025, with the record date on August 1, 2025 [4] Group 5 - The legal opinion regarding the differentiated profit distribution plan was issued by Guohao Law Firm, confirming the legality of the cash dividend distribution [5] - The company has repurchased a total of 19,906,252 A-shares, which do not have profit distribution rights [5]

Core Viewpoint - Shanghai Fosun Pharmaceutical (Group) Co., Ltd. has announced a cash dividend distribution of RMB 0.32 per share (pre-tax) for the fiscal year 2024, approved at the shareholders' meeting on June 24, 2025 [2][4]. Summary by Sections Dividend Distribution Details - The cash dividend of RMB 0.32 per share (pre-tax) will be distributed to all eligible A-share shareholders registered by the close of trading on August 1, 2025 [3][4]. - The total cash dividend distribution is expected to amount to approximately RMB 844.66 million (pre-tax), with A-share shareholders receiving about RMB 671.55 million (pre-tax) [4]. Shareholder Eligibility - Eligible shareholders include all A-share shareholders registered with China Securities Depository and Clearing Corporation Limited, Shanghai Branch, as of the record date [3]. - Shares repurchased and held in a special account will not participate in the distribution [3]. Taxation Information - Individual shareholders holding A-shares will be subject to different tax rates based on their holding period, with a maximum tax rate of 20% for shares held for one month or less [8]. - For qualified foreign institutional investors (QFIIs), a 10% withholding tax will apply, resulting in a net cash dividend of RMB 0.288 per share [10]. - Other investors will receive the full cash dividend of RMB 0.32 per share, with tax obligations to be fulfilled by the shareholders themselves [11]. Implementation Method - The cash dividends will be distributed through the clearing system of China Securities Depository and Clearing Corporation Limited, with designated trading investors able to receive their dividends on the payment date [6][11]. - Shanghai Fosun High Technology (Group) Co., Ltd. will receive its cash dividends directly from the company [7].

Group 1 - The core opinion of the document is that the legal opinion confirms the compliance of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. with relevant regulations regarding the differentiated equity distribution plan for 2024 [2][3][6] - The differentiated equity distribution is based on the company's decision to repurchase shares for employee incentive plans and is in accordance with the Shanghai Stock Exchange's guidelines [3][5] - The total cash dividend to be distributed is approximately RMB 671,546,423.36, with a per-share cash dividend of approximately RMB 0.32 [6][7] Group 2 - The repurchased shares, totaling 19,906,252 A shares, do not participate in the profit distribution, which aligns with the regulations set forth by the Shanghai Stock Exchange [5][6] - The calculation of the ex-rights and ex-dividend reference price indicates a minimal impact on the stock price, with the absolute value of the impact being less than 1% [7][8] - The legal opinion emphasizes that the repurchased shares will not affect the distribution of dividends and confirms the legality and accuracy of the distribution plan [2][4][6]