复星医药公告称，截至2026年1月22日收市，控股股东复星高科技持有公司9.61亿股，占比36.00%；其 及其一致行动人合计持有9.68亿股，占比36.24%。当日，复星高科技质押3200万股，占其所持股份数比 例3.33%，用于偿还债务；解除质押1.03亿股，占其所持本公司股份数的比例10.68%。本次质押及解除 质押后，复星高科技质押公司股份数量余额为4.76亿股，占公司股份总数的17.84%，占其及其一致行动 人所持有公司股份数的49.21%。预计未来一年和六个月内分别有3.38亿股、1.95亿股质押到期，对应融 资余额31.54亿元、17.69亿元。 ...

Core Viewpoint - Fosun Pharma is seeking new growth opportunities in the vaccine sector through the spin-off and listing of its vaccine platform, Fosun Antigen, on the Hong Kong Stock Exchange, which is seen as a strategic move to support independent development and capitalize on the revaluation of quality assets in the market [2][10]. Group 1: Spin-off and Financials - The spin-off plan announced on January 22 involves an initial issuance not exceeding 25% of the expanded total share capital of Fosun Antigen, which will remain a subsidiary of Fosun Pharma, reflecting its financial status in the consolidated financial statements [2][3]. - Fosun Antigen's projected revenues for 2022, 2023, and 2024 are 460 million yuan, 340 million yuan, and 97.42 million yuan respectively, with net profits of 86.64 million yuan, 11.35 million yuan, and a loss of 123.39 million yuan in 2024 [3][4]. Group 2: Market Potential and Competition - The global vaccine market is experiencing rapid expansion, with a size of $77 billion in 2023 and a compound annual growth rate (CAGR) of 15% from 2019 to 2023. The Chinese vaccine market (excluding COVID-19 vaccines) is expected to reach approximately 101.77 billion yuan in 2024, growing to 300 billion yuan by 2035, with an annual growth rate of about 12% [4][5]. - The Chinese vaccine market has significant growth potential, particularly in rabies and influenza vaccines, where current vaccination rates are low, indicating room for increased demand [5][6]. Group 3: Competitive Advantages and Challenges - Fosun Antigen has established a diverse range of vaccine products, including rabies and influenza vaccines, and is developing high-end products like the 13-valent pneumococcal conjugate vaccine, which is currently in Phase III clinical trials [6][7]. - The domestic vaccine market is characterized by moderate competition compared to the pharmaceutical market, with over 40 vaccine manufacturers. The focus is on collaboration to enhance market size and vaccination rates rather than engaging in cutthroat competition [5][8]. Group 4: Future Outlook - The spin-off of Fosun Antigen is part of Fosun Pharma's broader strategy to optimize asset structure and unlock the value of its subsidiaries, with previous successful spin-offs providing a framework for this move [10][11]. - The future of the vaccine market is expected to be competitive, especially in the pneumococcal vaccine sector, where established players like Pfizer dominate. The rapid development of mRNA vaccine technology poses additional challenges for traditional vaccine companies [10][11].

Market Performance - On January 22, 2026, the A-share market saw all three major indices close higher, with the Shanghai Composite Index at 3888.60 points, up 0.34%, the Shenzhen Component Index at 12984.08 points, up 0.85%, and the ChiNext Index at 3052.59 points, up 0.70%. Over 4100 stocks rose, with total trading volume in the Shanghai and Shenzhen markets at 1.59 trillion yuan, a decrease of 120 billion yuan from the previous trading day [1] - The Hong Kong stock market showed mixed results, with the Hang Seng Index down 0.34% to 25858.89 points and a total trading volume of 146.2 billion HKD. The Hang Seng China Enterprises Index fell 0.38%, while the Hang Seng Tech Index rose slightly by 0.02%. For the month, the Hang Seng Index decreased by 0.18%, the China Enterprises Index by 0.42%, and the Tech Index by 5.23% [1] - In the U.S. stock market, all three major indices continued their upward trend, with the Dow Jones Industrial Average up 0.63% to 49,384.01 points, the S&P 500 up 0.55% to 6,913.35 points, and the Nasdaq Composite up 0.91% to 23,436.02 points [1] New Stock Offerings - One new stock, Shimon Holdings, is available for subscription today, with no new stocks listed [2] - Shimon Holdings has a stock code of 001220, an issue price of 28 yuan per share, and a price-to-earnings ratio of 15.29 times. The company focuses on providing customized, integrated, and embedded supply chain logistics solutions for multinational manufacturing enterprises, aiming to meet the efficient, timely, and flexible supply chain management needs of clients [3] Important News - On January 22, 2026, the State Council's Food Safety Office, along with other departments, initiated a public consultation on national standards for prepared dishes. This includes drafts for "National Food Safety Standards for Prepared Dishes" and "Terminology and Classification of Prepared Dishes," aimed at protecting consumer rights and promoting high-quality industry development [4] - Major banks, including ICBC, ABC, Bank of China, CCB, Bank of Communications, and Postal Savings Bank, announced the implementation of the latest fiscal subsidy policy for personal consumption loans. Key updates include extending the policy until December 31, 2026, expanding support to include credit card installment payments, and raising subsidy standards by removing previous limits on single transaction amounts and cumulative limits for borrowers [4]

Monetary Policy and Economic Measures - The central bank governor Pan Gongsheng stated that a moderately loose monetary policy will continue in 2026, with room for further cuts in reserve requirement ratios and interest rates to maintain ample liquidity [3] - The first batch of 936 billion yuan of ultra-long special government bonds has been allocated to support approximately 4,500 projects in various sectors, expected to drive total investment exceeding 460 billion yuan [4] - The People's Bank of China will conduct a 900 billion yuan MLF operation on January 23, net injecting 700 billion yuan into the market, marking the 11th consecutive month of increased operations [4] Consumer and Investment Trends - State-owned banks collectively announced the implementation of personal consumption loan interest subsidy policies, allowing some high-quality clients to enjoy effective interest rates in the "2%" range, lower than current housing loan rates [3] - Public funds have focused their fourth-quarter 2025 positions on core sectors such as electronics and power equipment, with Zhongji Xuchuang becoming the largest holding stock [3] Market Performance - The A-share market saw a slight increase, with the Shanghai Composite Index rising 0.14% to 4122.58 points, and the Shenzhen Component Index increasing by 0.5% [6] - The Hong Kong stock market also experienced minor fluctuations, with the Hang Seng Index rising 0.17% to 26629.96 points, and net inflows from southbound funds amounting to 5.166 billion HKD [6] Corporate Developments - Alibaba Group has decided to support its chip company "Pingtouge" for independent listing, with plans for restructuring to a mixed-ownership enterprise [7] - Xiaomi Group has initiated a stock repurchase plan of up to 2.5 billion HKD [9] - Nanjing Bank reported a net profit growth of 8.08% year-on-year for 2025 [9] Regulatory and Policy Updates - The State Administration for Market Regulation has issued a red card for the first time in the public utility sector, prohibiting a merger between two gas companies [10] - Nine departments jointly issued opinions to promote high-quality development in the pharmaceutical retail industry, encouraging mergers and acquisitions among retail pharmacies [10] Economic Indicators - The unemployment rate for urban labor aged 16-24 was reported at 16.5% in December 2025, while the rate for those aged 25-29 was 6.9% [5] - The National Bureau of Statistics reported a 28.1% year-on-year increase in sales revenue for the smart device manufacturing industry in 2025 [10]

Core Viewpoint - Shanghai Fosun Pharmaceutical (Group) Co., Ltd. plans to spin off its subsidiary, Fosun Antigen (Chengdu) Biopharmaceutical Co., Ltd., for a listing on the Hong Kong Stock Exchange, which is expected to maintain the company's control over the subsidiary after the split [1][6]. Group 1: Spin-off Details - The board of directors approved the spin-off proposal during a meeting held on January 22, 2026, with unanimous support from all directors [5][7]. - The spin-off is subject to various approvals, including from the company's shareholders and regulatory bodies, which introduces uncertainty regarding the timeline and feasibility of the listing [2][9]. Group 2: Financial and Operational Aspects - Fosun Antigen has reported net profits of RMB 3.731 billion, RMB 2.011 billion, and RMB 2.314 billion for the years 2022, 2023, and 2024 respectively, indicating consistent profitability over the last three years [21]. - The cumulative net profit attributable to the parent company, after excluding the subsidiary's losses, is RMB 8.076 billion, exceeding the required RMB 600 million [21][22]. Group 3: Strategic Rationale - The spin-off aims to enhance the focus on the vaccine business, which is positioned as a core area of growth amid increasing demand for innovative vaccines [40][41]. - By establishing Fosun Antigen as an independent entity, the company seeks to optimize resource allocation and improve operational efficiency, thereby enhancing competitiveness in the vaccine market [42][43]. Group 4: Market Position and Future Prospects - The spin-off is expected to unlock the valuation potential of Fosun Antigen, allowing for clearer financial analysis and potentially better market pricing [44]. - The move is aligned with the company's internationalization strategy, leveraging Hong Kong's status as a financial hub to attract global investment and partnerships [45].

中访网数据 上海复星医药（集团）股份有限公司于2026年1月22日召开董事会，审议通过了分拆其控股 子公司复星安特金（成都）生物制药股份有限公司至香港联合交易所有限公司主板上市的相关议案。根 据预案，复星安特金本次拟发行H股，初始发行规模不超过发行后总股本的25%（超额配售权行使 前），并可授予不超过初始发行规模15%的超额配售权。董事会认为，本次分拆符合《上市公司分拆规 则（试行）》等法律法规的要求，有利于公司聚焦主业、增强独立性，并释放疫苗业务板块的估值潜 力。分拆完成后，复星医药预计仍将保持对复星安特金的控制权。相关议案尚需提交公司股东大会、A 股及H股类别股东大会审议批准。复星安特金作为复星医药旗下的疫苗业务平台，主要围绕多项技术平 台从事疫苗的研发、生产与销售，目前已上市产品包括人用狂犬病疫苗、流感病毒裂解疫苗等。 MACD金叉信号形成，这些股涨势不错！ ...

Major Events - UBTECH (09880) plans to invest 300 million yuan to establish a partnership for investments in the smart robotics industry chain [1] - Tian Ge Interactive (01980) received a 1.41% discount from Sina Hong Kong for a partial tender offer to acquire 32.5 million shares, with trading resuming on January 22 [1] - Fosun Pharma (02196) received approval for the drug registration application of heavy tartrate norepinephrine injection [1] - Valiant (09887) received orphan drug designation (ODD) from the European Commission for Valiant™ for the treatment of extra-pulmonary neuroendocrine carcinoma [1] - GCL-Poly Energy (01050) secured orders for AI giant server enclosures, accelerating ASIC business production, and commenced construction of a new base in Thailand [1] - China Rare Earth Holdings (03788) plans to raise approximately 783 million HKD to support the development of the Mt Bundy gold mine project [1] - Nanshan Aluminum International (02610) plans to place 31 million shares, aiming to raise approximately 1.9868 billion HKD [1] - Qiming Medical-B (02500) reported a patent infringement lawsuit against Edwards by Cardiovalve Ltd. and MTH IP, L.P. regarding US Patent No. 385 [1] - Minmetals Resources (01208) expects total copper production of 506,900 tons in 2025, a year-on-year increase of 27% [1] - Prudential (02378) invested approximately 375 million USD to increase its stake in PAMB to 70% [1] - Nocoda Technology (00519) successfully implemented innovative smart handling robots in Hong Kong public housing estates [1] - Idali Holdings (00720) B-ON Global S.àr.l. plans to acquire 1.3 billion shares of the company, becoming the major shareholder [1] Bonds and Notes - China Shipbuilding Leasing (03877) subsidiary plans to issue 2.338 billion HKD convertible bonds [2] Buybacks/Reductions - China Communications Construction (01800) repurchased 1.06837 million HKD worth of 1.2588 million A-shares on January 22 [2] - Kuaishou-W (01024) spent approximately 29.9714 million HKD to repurchase 380,000 shares on January 22 [2] - Xiaomi Group-W (01810) repurchased shares worth 201 million HKD, acquiring 5.7138 million shares on January 22 [2] - Xiaomi Group-W (01810) plans to repurchase up to 2.5 billion HKD of Class B ordinary shares [2] - Sanhua Intelligent Control (02050) controlling shareholders, directors, and executives plan to collectively reduce their holdings by up to approximately 10.2037 million A-shares [2] Operating Performance - AsiaInfo Technologies (01675) expects to turn cash flow positive by 2025, driven by rapid growth in AI business [2] - Zhaoyi Innovation (03986) issued a profit warning, expecting a net profit of approximately 1.61 billion yuan in 2025, a year-on-year increase of about 46% [2] - MicroPort Medical (00853) issued a profit warning, expecting a net profit of no less than 20 million USD in 2025, turning profitable year-on-year [2]

格隆汇1月22日丨复星医药(02196.HK)公告，近日，上海复星医药(集团)股份有限公司控股子公司锦州 奥鸿药业有限责任公司就重酒石酸去甲肾上腺素注射液(以下简称"该药品")的药品注册申请获国家药品 监督管理局批准。本次获批适应症为用于急性低血压状态的血压恢复；也可用于心跳骤停的辅助治疗和 心跳骤停复苏后的血压维持；对血容量不足导致的休克，本品作为急救时补充血容量的辅助治疗，以使 血压回升，暂时维持脑与冠状动脉灌注，直到补充血容量治疗发生作用。 药品通用名称：重酒石酸去甲肾上腺素注射液 剂型：注射剂 规格：4ml:8mg 注册分类：化学药品 3 类 上市许可持有人/生产企业：锦州奥鸿药业有限责任公司 药品批准文号：国药准字 H20263119 ...

证券日报网讯 1月22日，复星医药在互动平台回答投资者提问时表示，近年来，公司持续在创新研发、 许可引进、生产运营及商业化等多维度践行国际化战略，提升运营效率，强化全球市场布局，并已主要 覆盖美国、欧洲、非洲、印度和东南亚等海外市场。公司在欧盟市场的销售模式采用了多元化方式。 如，在制药领域，生物类似药由中国境内完成研发和生产，并通过海外合作伙伴布局欧盟市场；注射剂 业务以B2B模式为主，由印度及欧洲本土制造基地向欧盟客户供货。在医疗器械领域，公司则通过分销 与直销相结合的方式覆盖欧盟市场。 （编辑 任世碧） ...

注册分类：化学药品 3 类 上市许可持有人/生产企业：锦州奥鸿药业有限责任公司 药品批准文号：国药准字 H20263119 格隆汇1月22日丨复星医药(02196.HK)公告，近日，上海复星医药(集团)股份有限公司控股子公司锦州 奥鸿药业有限责任公司就重酒石酸去甲肾上腺素注射液(以下简称"该药品")的药品注册申请获国家药品 监督管理局批准。本次获批适应症为用于急性低血压状态的血压恢复；也可用于心跳骤停的辅助治疗和 心跳骤停复苏后的血压维持；对血容量不足导致的休克，本品作为急救时补充血容量的辅助治疗，以使 血压回升，暂时维持脑与冠状动脉灌注，直到补充血容量治疗发生作用。 药品通用名称：重酒石酸去甲肾上腺素注射液 剂型：注射剂 规格：4ml:8mg ...