本次转让完成后，本集团将不再直接持有上海克隆的股权，但仍将继续租赁部分标的物业作为经营场 所，预计本次转让不会对本集团之日常运营造成重大影响。本次转让所得款项将用于本集团创新药业务 的持续投入。 2、于专项基金设立并满足约定条件后，控股子公司复星医药产业拟以不超过人民币125,600万元向专项 基金或其控制的实体转让所持有的上海克隆100%的股权和对上海克隆享有的债权（即本次转让）。 格隆汇9月26日丨复星医药(600196.SH)公布，为进一步聚焦核心业务并提升资产运营效率，控股子公司 复星医药产业拟筹划转让上海克隆100%股权（其主要资产为位于上海市徐汇区宜山路1289号的标的物 业），本次交易步骤及结构如下： 1、控股子公司复星医药产业拟作为LP现金出资人民币5,460万元与弘毅天津、中汇人寿共同出资设立专 项基金（即本次投资），预计持有该基金足额募集后9.98%的财产份额； ...

Core Insights - The 15th China Henan International Investment and Trade Fair is currently taking place in Zhengzhou, focusing on new opportunities in the biopharmaceutical industry [1] - The Innovation Drug and Modern Pharmaceutical Industry Cooperation Exchange Conference is a key event, gathering over a hundred representatives from renowned pharmaceutical companies and medical institutions [1] Group 1: Investment Attraction - Companies are drawn to the Zhengzhou Airport Economic Comprehensive Experimental Zone due to its fast approval processes, efficient services, and favorable conditions [3] - Notable investments include the 2.5 billion yuan "Medical City Star Future Fund" by Fosun Pharma and the entry of BD Medical, a global medical device giant, marking the first biopharmaceutical manufacturing project from a Fortune 500 company in the region [3] - The region's appeal is bolstered by its rich clinical resources, improving research capabilities, and an increasingly attractive policy environment for multinational medical enterprises [3] Group 2: Regional Advantages - The Zhengzhou Airport Zone has established a "six-dimensional advantage" framework, which includes national strategic support, transportation hub benefits, a large population market, top-tier medical resources, efficient administrative approvals, and high-quality living conditions [3] - The local drug regulatory authority provides streamlined evaluation services, enhancing operational and innovation efficiency for enterprises [3] Group 3: Policy Support - The conference served as a platform for dialogue, with officials from the Henan Provincial Health Commission, Medical Insurance Bureau, and Drug Administration present to discuss supportive measures for industry development [4] - The Henan Medical Insurance Bureau has implemented a "dual-channel" mechanism for specific outpatient drugs and optimized drug listing processes, resulting in over 4 billion yuan in additional compensation for cases using new drugs and technologies [5] - The goal is to achieve a win-win situation where patients benefit, companies grow, and the fund remains sustainable [5]

Group 1 - The company plans to divest 100% equity of Shanghai Clon to enhance focus on core business and improve asset operation efficiency [2][8][54] - The transaction involves the establishment of a special fund with a total planned fundraising of RMB 54.7 million, with contributions from various parties [9][24][36] - The estimated transfer price for the equity is up to RMB 125.6 million, based on the assessed value of the property held by Shanghai Clon [10][34] Group 2 - The company will continue to lease part of the property post-transfer, ensuring no significant impact on daily operations [11][54] - The proceeds from the transfer will be reinvested into the company's innovative drug business [12][54] - The transaction has been approved by the company's board and does not require shareholder approval [4][56] Group 3 - The special fund will primarily invest in the biopharmaceutical industry, focusing on acquiring assets such as industrial parks and factories [29][44] - The fund's management will be handled by Hongyi Tianjin, which is registered as a private fund manager [15][39] - The fund's operational period is set for five years, with potential extensions for orderly liquidation of investment projects [24][28]

北京商报讯(记者王寅浩实习记者宋雨盈)9月26日，复星医药（600196）发布公告称，公司控股子公司 复星医药产业拟筹划转让上海克隆100%股权，以进一步聚焦核心业务并提升资产运营效率。 公告显示，复星医药产业拟作为LP现金出资5460万元与弘毅天津、中汇人寿共同出资设立专项基金(即 本次投资)，预计持有该基金足额募集后9.98%的财产份额。于专项基金设立并满足约定条件后，复星医 药产业拟以不超过人民币12.56亿元向专项基金或其控制的实体转让所持有的上海克隆100%的股权和对 上海克隆享有的债权(即本次转让)。 ...

本次转让完成后，集团将不再直接持有上海克隆的股权，但仍将继续租赁部分标的物业作为经营场所， 预计本次转让不会对集团之日常运营造成重大影响。本次转让所得款项将用于集团创新药业务的持续投 入。 格隆汇9月26日丨复星医药(02196.HK)公告，为进一步聚焦核心业务并提升资产运营效率，控股子公司 复星医药产业拟筹划转让上海克隆100%股权（其主要资产为位于上海市徐汇区宜山路1289号的标的物 业），本次交易步骤及结构如下： 2、于专项基金设立并满足约定条件后，控股子公司复星医药产业拟以不超过人民币125,600万元向专项 基金或其控制的实体转让所持有的上海克隆100%的股权和对上海克隆享有的债权（即本次转让）。 1、控股子公司复星医药产业拟作为LP现金出资人民币5,460万元与弘毅天津、中汇人寿共同出资设立专 项基金（即本次投资），预计持有该基金足额募集后9.98%的财产份额； ...

复星医药(02196)公布，为进一步聚焦核心业务并提升资产运营效率，公司控股子公司复星医药产业拟 筹划转让上海克隆 100%股权(其主要资产为位于上海市徐汇区宜山路 1289 号的标的物业)。据此，2025 年 9 月 25 日，公司及控股子公司复星医药产业、上海复顺与弘毅天津、中汇人寿、弘元控股、弘赫洛 源共同签订《框架协议》;同日，复星医药产业还与弘毅天津、中汇人寿签订《合伙协议》。 2、于专项基金设立并满足约定条件后，由复星医药产业向专项基金或其控制实体转让所持有的上海克 隆 100%股权及对上海克隆享有的相应债权，该等转让对价合计不超过人民币12.56亿元。 上海克隆的主要资产为位于上海市徐汇区宜山路 1289 号的国有建设用地使用权及房屋所有权(即"标的 物业")。标的物业宗地面积为 19,944 平方米、建筑面积为 45,238.55 平方米，产权性质为工业用地。 本次转让完成后，该集团将不再直接持有上海克隆的股权，公司及部分控股子公司将于约定期间继续租 赁部分标的物业作为经营场所;此外，控股子公司上海复顺拟作为资产管理人为上海克隆提供标的资产 的运营管理服务。预计本次转让不会对集团的日常运营造成 ...

复星医药（600196）(02196)公布，为进一步聚焦核心业务并提升资产运营效率，公司控股子公司复星 医药产业拟筹划转让上海克隆100%股权(其主要资产为位于上海市徐汇区宜山路1289号的标的物业)。据 此，2025年9月25日，公司及控股子公司复星医药产业、上海复顺与弘毅天津、中汇人寿、弘元控股、 弘赫洛源共同签订《框架协议》;同日，复星医药产业还与弘毅天津、中汇人寿签订《合伙协议》。 上海克隆的主要资产为位于上海市徐汇区宜山路1289号的国有建设用地使用权及房屋所有权(即"标的物 业")。标的物业宗地面积为19,944平方米、建筑面积为45,238.55平方米，产权性质为工业用地。 根据约定，本次交易步骤及结构如下： 本次转让完成后，该集团将不再直接持有上海克隆的股权，公司及部分控股子公司将于约定期间继续租 赁部分标的物业作为经营场所;此外，控股子公司上海复顺拟作为资产管理人为上海克隆提供标的资产 的运营管理服务。预计本次转让不会对集团的日常运营造成重大影响。 1、复星医药产业与弘毅天津、中汇人寿拟共同出资设立专项基金(即本次投资)。专项基金计划募集资 金人民币5.47亿元，其中：弘毅天津(作为GP)、 ...

（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 參與設立私募股權投資基金及籌劃出售資產的公告》，僅供參閱。 承董事會命 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.* 上海复星医药（集团）股份有限公司 关于参与设立私募股权投资基金 上海復星醫藥（集團）股份有限公司 董事長 陳玉卿 中國，上海 2025 年9 月2 6 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、 ...

Core Viewpoint - The potential imposition of a 100% tariff on imported brand and patented drugs by the Trump administration starting October 1, 2025, has raised concerns among pharmaceutical companies, particularly those in China, leading to a decline in their stock prices [2][3]. Group 1: Impact on Pharmaceutical Companies - The announcement of the tariff has caused significant declines in the stock prices of Chinese pharmaceutical companies, with Heng Rui Pharmaceutical dropping 3.03% in A-shares and 2.23% in Hong Kong shares, and BeiGene falling 4.38% in A-shares and 1.55% in Hong Kong shares [2]. - The Hang Seng Innovative Drug Index (HSIDI) fell by 2.37%, with notable declines in stocks such as Fosun Pharma, which dropped 5.82%, and 3SBio, which fell by 5.34% [3]. - Industry experts suggest that the impact of the tariff on Chinese pharmaceutical companies may be limited, as many are focused on generic drugs and active pharmaceutical ingredients (APIs) [4]. Group 2: Industry Perspectives - Some industry leaders believe that the tariff policy may not be implemented as proposed, citing the high cost of drugs in the U.S. and the potential for political changes in future administrations [4][5]. - Companies like Heng Rui Pharmaceutical indicated that their current exports primarily consist of generics and APIs, suggesting minimal impact from the proposed tariffs [4]. - Other companies, such as Lepu Biopharma, noted that their licensing partnerships would shield them from significant effects [5]. Group 3: U.S. Policy Context - The Trump administration has previously threatened to impose tariffs on imported drugs, with discussions around a 200% tariff and subsequent smaller tariffs leading to a potential increase over time [6][7]. - Major multinational pharmaceutical companies have responded to the tariff threats by committing to significant investments in U.S. manufacturing, with companies like Novartis and Roche pledging $23 billion and $50 billion respectively over the next five years [8].

Core Viewpoint - The potential implementation of a 100% tariff on all brand-name and patented drugs by the U.S. government starting October 1, 2025, unless companies are building drug manufacturing plants in the U.S. [2] Group 1: Market Reaction - Pharmaceutical stocks in multiple markets, including China, Japan, and South Korea, experienced a collective decline following the announcement [3] - Specific declines included a 3.03% drop in Hengrui Medicine (600276.SH/01276.HK) A-shares and a 2.23% drop in Hong Kong shares, while BeiGene (ONC.NASDAQ/06160.HK/688235.SH) saw a 4.38% drop in A-shares and a 1.55% drop in Hong Kong shares [3] - The Hang Seng Innovative Drug Index (HSIDI) fell by 2.37%, with notable declines in stocks such as Fosun Pharma (600196.SH/02196.HK) down 5.82% and 3SBio (01530.HK) down 5.34% [4] Group 2: Industry Perspectives - Industry experts suggest that Chinese pharmaceutical companies aiming to expand internationally need to consider the potential implementation of this policy and explore possible solutions [5] - Some executives believe that the high cost of drugs in the U.S. may hinder the realization of this policy [5] - Hengrui Medicine's executive noted that the impact of the potential policy would be limited as their exports mainly consist of generic drugs and APIs [5] - Other companies, such as Lepu Biopharma, indicated that their licensing partnerships would not be significantly affected [5] - Investors pointed out that this is a political issue that could change with future administrations, suggesting that while there may be short-term negative impacts, the long-term effects may not be significant [5] Group 3: Historical Context - Historically, pharmaceuticals have been excluded from tariff lists, but President Trump has repeatedly threatened to impose tariffs on imported drugs this year [5] - The Trump administration initiated a "232 investigation" under the Trade Expansion Act of 1962, which allows for tariffs if imports threaten national security [6] - Previous statements from Trump indicated plans for escalating tariffs on imported drugs, with initial small tariffs leading to potential increases up to 250% [7] Group 4: Investment Commitments - In response to the tariff threats, several multinational pharmaceutical companies have committed to investing in U.S. manufacturing facilities, with significant investments announced by companies like Novartis, Roche, Sanofi, and AstraZeneca [8] - Notably, Novartis and Roche pledged $23 billion and $50 billion respectively over five years, while AstraZeneca committed to a $50 billion investment by 2030 [8]