Group 1 - In 2025, China's foreign trade showed strong resilience, with total exports reaching a historical high, growing by 5.5% year-on-year, despite a complex external environment [1][57] - China's trade surplus exceeded $1 trillion for the first time, marking a significant increase of 19.8% year-on-year [1][57] - The net export of goods and services contributed 1.64 percentage points to GDP growth, the second-highest level since 2007, only behind 2021 [3] Group 2 - The diversification of external demand has strengthened, with emerging markets compensating for the decline in exports to the US, which fell by 19.79% year-on-year [6] - Exports to ASEAN, Africa, and the Middle East saw significant growth rates of 25.9%, 13.64%, and 9.7% respectively, contributing positively to the overall export scale [6] - The share of US exports in China's total exports decreased by 3.53 percentage points to 11.15% [6] Group 3 - The product structure of China's foreign trade is shifting towards higher value chains, with high-end products like electrical machinery, machinery, automobiles, and ships being the main export drivers [8] - Traditional light industrial products such as furniture and toys have seen a decline in export scale due to tariff friction and industrial chain relocation [8] Group 4 - The restructuring of global supply chains is creating significant opportunities for Chinese companies, with a notable increase in the number of Chinese enterprises establishing production capacities abroad, reaching 229 in 2025, nearly doubling from 2024 [18] - ASEAN, Mexico, and India are the primary destinations for Chinese production capacity outflows, with ASEAN covering a wide range of industries [18] Group 5 - The AI expansion cycle is a core focus in the Chinese capital market, with significant growth expected in AI computing hardware, supported by macro investment scales and healthy balance sheets of major tech companies [29][30] - The capital expenditure of major cloud service providers is projected to increase significantly, reflecting strong demand for AI computing [35] Group 6 - Cultural and technological value output is becoming a major trend for Chinese enterprises going abroad, with significant growth in IP exports and innovative products in sectors like gaming and new dining [39][41] - The Chinese innovative pharmaceutical sector is increasingly integrated into the global supply chain, with more products commercialized in the US and Europe [41] Group 7 - Key sectors with strong overseas expansion opportunities in 2026 include new energy (batteries, grid equipment), machinery, TMT (technology, media, telecommunications), and innovative pharmaceuticals [46] - The gaming industry is also highlighted for its potential, with significant overseas revenue growth expected [49]

Group 1 - The core viewpoint of the news is that Fosun Pharma is actively advancing its drug development pipeline and financial strategies, including new drug applications and bond issuance [1][4] Group 2 - Fosun Pharma's subsidiary, Jinzhou Aohong Pharmaceutical, received acceptance for its new drug application for ET-26, with a total R&D investment of approximately 189 million yuan [1] - Another subsidiary, Fuhong Hanlin, has been approved to conduct Phase I clinical trials for HLX15-SC, with a cumulative R&D investment of about 192 million yuan [1] - The company issued 1 billion yuan in technology innovation bonds with a 2-year term and an interest rate of 2.40% [1] - Fosun Pharma plans to spin off its subsidiary, Fosun Antigen, for a listing on the Hong Kong Stock Exchange, with a related proposal to be reviewed on February 27 [1] - The company provided guarantees totaling approximately 22.758 billion yuan for its subsidiaries, representing 48.15% of its net assets as of the end of 2024 [1] Group 3 - As of February 13, 2026, Fosun Pharma's A-share price was 26.57 yuan, down 1.12% for the day, with a 5-day cumulative decline of 0.41% [2] - The stock experienced a trading volume of 278 million yuan, with a net outflow of 31.055 million yuan from main funds [2] - The stock is currently in a volatile range, with a 20-day Bollinger Band resistance at 27.99 yuan and support at 26.09 yuan [2] Group 4 - For the year 2024, Fosun Pharma reported an operating income of 35.783 billion yuan and a net profit attributable to shareholders of 2.765 billion yuan, reflecting a year-on-year growth of 25.42% [3] - In the first quarter of 2025, the company reported an operating income of 9.420 billion yuan and a net profit of 765 million yuan, impacted by centralized procurement [3] - Forecasts indicate a 21.04% year-on-year growth in net profit for 2025, with an expected revenue growth rate of 3.32% for 2026 [3] Group 5 - As of February 14, 2026, the comprehensive target price for Fosun Pharma is set at 46.00 yuan, indicating a potential upside of 73.13% from the current stock price [4] - The forecasted earnings per share for 2025 is 1.25 yuan, with a projected net profit growth of 21.04% [4] - Institutions like Morgan Stanley highlight that the value of the company's innovative drug pipeline is gradually being realized, but short-term attention is needed on procurement pressures [4]

Core Viewpoint - Fosun Pharma's subsidiary, GSK (Wuhan) Pharmaceutical Co., Ltd., has received acceptance for the drug registration application of Cisplatin Injection by the National Medical Products Administration, indicating progress in the company's drug development pipeline [1] Group 1: Drug Development - The drug, Cisplatin Injection, is self-developed by the company and is intended for the treatment of metastatic testicular tumors, metastatic ovarian tumors, and advanced bladder cancer [1] - As of January 2026, the company's cumulative R&D investment in this drug is approximately RMB 4.69 million (unaudited) [1] Group 2: Market Potential - According to the latest data from IQVIA CHPA, the sales revenue of Cisplatin Injection in mainland China (excluding Hong Kong, Macau, and Taiwan) is projected to be approximately RMB 165 million in 2024 [1]

复星医药（600196）(02196)发布公告，近日，公司控股子公司吉斯美(武汉)制药有限公司就顺铂注射液 的药品注册申请获国家药品监督管理局受理。 该药品为集团自主研发的化学药品，拟用于治疗转移性睾丸肿瘤、转移性卵巢肿瘤、晚期膀胱癌。截至 2026年1月，集团现阶段针对该药品的累计研发投入约为人民币469万元(未经审计)。根据IQVIA CHPA 最新数据，2024年，顺铂注射液于中国境内(不包括港澳台地区)的销售额约为人民币1.65亿元。 ...

Core Viewpoint - Fosun Pharma's subsidiary, Jinzhou Aohong Pharmaceutical, has received acceptance for its drug registration application for Mivacurium Injection from the National Medical Products Administration, targeting anesthesia induction and short-term surgical anesthesia [1] Group 1 - The drug registration application is classified as a Class 1 chemical drug [1] - The project code for the Mivacurium Injection is ET-26 [1] - The intended indications for the drug include use in anesthesia induction and short-term surgical anesthesia [1]

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 中國，上海 2026 年2 月1 3 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、王可心先生及劉毅先生；本公 司之非執行董事為陳啟宇先生及潘東輝先生；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；以及本公司職工董事為嚴佳女士。 * 僅供識別 证券代码：600196 股票简称：复星医药 编号：临 2026-024 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 控股子公司藥品註冊申請獲受理 ...

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 控股子公司藥品註冊申請獲受理的公告》，僅供參閱。 承董事會命 上海復星醫藥（集團）股份有限公司 董事長 陳玉卿 中國，上海 2026 年2 月1 3 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、王可心先生及劉毅先生；本公 司之非執行董事為陳啟宇先生及潘東輝先生；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；以及本公司職工董事為嚴佳女士。 * ...

Core Viewpoint - Fosun Pharma's subsidiary, Jisimei (Wuhan) Pharmaceutical Co., Ltd., has had its drug registration application for Cisplatin Injection accepted by the National Medical Products Administration, indicating progress in the development of this self-developed chemical drug for treating metastatic testicular tumors, metastatic ovarian tumors, and advanced bladder cancer [1]. Group 1 - The drug in question, Cisplatin Injection, is developed by the company and is intended for the treatment of specific types of cancer [1]. - The acceptance of the drug registration application marks a significant milestone for the company in expanding its oncology product portfolio [1].

证券代码：600196 股票简称：复星医药 编号：临 2026-024 上海复星医药（集团）股份有限公司 关于控股子公司药品注册申请获受理的公告 根据 IQVIA CHPA 最新数据 1，2024 年，顺铂注射液于中国境内（不包括港澳台 地区）的销售额约为人民币 1.65 亿元。 三、对上市公司的影响及风险提示 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。 一、概况 近日，上海复星医药（集团）股份有限公司（以下简称"本公司"）控股子公 司吉斯美（武汉）制药有限公司就顺铂注射液（以下简称"该药品"）的药品注册 申请获国家药品监督管理局受理。 二、该药品的基本信息及研究情况 该药品为本集团（即本公司及控股子公司/单位，下同）自主研发的化学药品， 拟用于治疗转移性睾丸肿瘤、转移性卵巢肿瘤、晚期膀胱癌。 截至 2026 年 1 月，本集团现阶段针对该药品的累计研发投入约为人民币 469 万 元（未经审计）。 1 特此公告。 上海复星医药（集团）股份有限公司 董事会 二零二六年二月十三日 2 该药品在进行商业化生产前，尚需（其中主要包 ...

近日，上海复星医药（集团）股份有限公司（以下简称"本公司"）控股子 公司锦州奥鸿药业有限责任公司就盐酸莫托咪酯注射液（项目代号：ET-26，申 请注册分类：化药 1 类；以下简称"该新药"）的药品注册申请获国家药品监督 管理局受理，本次申报拟定适应症为用于麻醉诱导和短时手术麻醉。 二、该新药的基本信息及研究情况 上海复星医药（集团）股份有限公司 关于控股子公司药品注册申请获受理的公告 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。 一、概况 证券代码：600196 股票简称：复星医药 编号：临 2026-023 该新药是咪唑类改构的静脉全身麻醉 1 类新药，于 2014 年被列入"重大新 药创制"科技重大专项。 截至 2026 年 1 月，本集团（即本公司及控股子公司/单位，下同）现阶段针 对该新药的累计研发投入约为人民币 1.89 亿元（未经审计）。 根据 IQVIA CHPA 最新数据1，2024 年，用于麻醉诱导及短时手术麻醉的同 类药物（依托咪酯等）于中国境内（不包含港澳台地区）的销售额约为人民币 42.38 亿元。 ...