Core Viewpoint - Multiple companies, including Tencent Holdings and China Hongqiao, conducted share buybacks on August 20, 2025, with Tencent leading in both volume and monetary value [1]. Group 1: Buyback Details - Tencent Holdings (00700) repurchased 934,000 shares for a total of 551 million [2]. - China Hongqiao (01378) repurchased 3,318,000 shares for a total of 784.03 million [2]. - Other notable buybacks include: - Techtronic Industries (00669): 250,000 shares for 25.19 million [2]. - Hang Seng Bank (00011): 200,000 shares for 22.37 million [2]. - Guochuang Tongqiao-B (02190): 100,000 shares for 2.32 million [2]. Group 2: Year-to-Date Buyback Performance - Year-to-date buyback totals for selected companies include: - Tencent Holdings: 40,267,000 shares, representing 0.438% of total shares [2]. - China Hongqiao: 52,641,500 shares, representing 0.560% of total shares [2]. - Techtronic Industries: 750,000 shares, representing 0.041% of total shares [2]. - Other companies with significant year-to-date buybacks include: - Maple Leaf Education (01317): 4,903,200 shares, representing 1.650% of total shares [2]. - Yanzheng Technology (02488): 2,190,500 shares, representing 1.356% of total shares [2].

Group 1: Hong Kong Stock Exchange Developments - Hong Kong Stock Exchange (HKEX) CEO Charles Li stated that HKEX will research a 24-hour trading mechanism, taking into account international experiences and local market conditions [1] - HKEX plans to enhance its competitiveness through strategic investments in data platform optimization and trading settlement system upgrades [1] - The exchange is also exploring shortening the settlement cycle for the cash market, with a potential T+1 settlement system supported by its technology by the end of this year [1] Group 2: Market Overview - The S&P 500 index fell for four consecutive days, with the index closing down 0.24% at 6395.78 points [2] - Major technology stocks mostly declined, with Intel dropping approximately 7% [2] - The Nasdaq China Golden Dragon Index rose by 0.33%, with notable gains from Tiger Brokers and JinkoSolar [2] Group 3: Financial Regulatory Updates - The National Financial Regulatory Administration is seeking public opinion on the draft of the "Commercial Bank M&A Loan Management Measures," which includes provisions for equity acquisition loans [3] Group 4: Federal Reserve Insights - The Federal Reserve's July meeting minutes indicated a moderate GDP growth in the first half of the year, with a focus on inflation risks over labor market concerns [4] - There was a notable dissent among Fed officials regarding interest rate decisions, marking a significant moment since 1993 [4] Group 5: Corporate Earnings Reports - Alibaba Group announced plans to spin off its subsidiary, Zhaima, for an independent listing on the Hong Kong Stock Exchange [5] - Baidu Group reported a total revenue of RMB 327.13 billion for Q2 2025, a year-on-year decrease of 4%, while net profit increased by 33% to RMB 73.22 billion [8] - Huazhu Group's total revenue for Q2 2025 was RMB 64.26 billion, with a net profit of RMB 15.44 billion, reflecting a 44.7% year-on-year increase [9] - China Oriental Group expects a net profit increase of no less than 70% for the first half of 2025, projecting at least RMB 2.20 billion [10] - Lijun Pharmaceutical reported a net profit of RMB 12.81 billion for the first half of 2025, a 9.4% increase year-on-year [11] - BOSS Zhipin reported a net profit of RMB 7.16 billion for Q2 2025, a 69.87% increase year-on-year [12] - New World Development reported a significant increase in net profit to HKD 887 million, a 1076% rise year-on-year [13] - Yimuyou Group expects a net profit of no less than RMB 2.6 billion for the first half of 2025, representing a growth of over 90% [14] - Yongsheng Medical reported a net profit of HKD 51.63 million, a 55.1% increase year-on-year [15] - Lepu Biopharma achieved a revenue increase of 249.59% for the first half of 2025, marking its first profit [16] - Huya Technology expects a net profit of USD 30 million to 38 million for the first half of 2025, a significant increase from the previous year [17] - Kingsoft reported a net profit of RMB 816 million for the first half of 2025, a 20.41% increase year-on-year [18] - Zhong An Online reported a net profit of RMB 668 million, a 1103.54% increase year-on-year [19] - Yaoshi Bang reported a net profit of RMB 78.12 million, a 258% increase year-on-year [20] - Crystal International reported a net profit of USD 98.27 million, a 17% increase year-on-year [21] - Ocean Group expects a turnaround with a projected net profit of RMB 9.5 billion to 11 billion for the first half of 2025 [22] - Kingsoft Cloud reported an adjusted EBITDA of approximately RMB 725 million, a 672.62% increase year-on-year [23] Group 6: Pharmaceutical Developments - Heyou Pharmaceutical's IND application for a combination therapy for NSCLC has been approved by the CDE [24] - Shengbela reported a net profit of RMB 327 million, marking a turnaround from a previous loss, with significant growth in various business segments [25]

Group 1 - The Chinese government emphasizes the importance of the biopharmaceutical industry for public health and aims to enhance innovation and policy support to improve the quality and efficiency of drug development [1][2] - A recent meeting highlighted the need for original innovation and key technology breakthroughs, with a focus on integrating artificial intelligence into various stages of drug development and production [2] - The National Healthcare Security Administration has approved 534 drugs for the national basic medical insurance directory, indicating a growing support for innovative drugs [2][3] Group 2 - The biopharmaceutical sector in China is experiencing rapid growth, with over 100 licensing transactions worth $52.3 billion in 2024, marking a significant increase from $41.9 billion in 2023 [3] - The number of outbound licensing transactions has tripled compared to inbound transactions, showcasing China's increasing competitiveness in the global pharmaceutical market [3] - The market sentiment for innovative drugs has been positively impacted by recent supportive policies, with a focus on optimizing drug procurement and negotiation mechanisms [4][6] Group 3 - The oncology sector is highlighted as a key area for innovation, particularly in antibody-drug conjugates (ADCs) and immunotherapy, with significant opportunities for new product development [5] - The overall sentiment in the innovative drug sector remains optimistic, with expectations for continued policy support and improved commercial viability [6] - Companies like 基石药业-B, 和誉-B, 和铂医药, and 信达生物 are actively involved in innovative drug development and strategic partnerships, indicating a robust pipeline of new therapies [7][8]

Core Viewpoint - Shanghai Heyu Biopharmaceutical Technology Co., Ltd. announced the approval of its IND application for the oral PD-L1 inhibitor ABSK043 in combination with the KRAS G12C inhibitor, citric acid giredestrant, for treating KRAS G12C mutated non-small cell lung cancer (NSCLC) patients [1] Group 1 - The clinical study is an open-label Phase II trial assessing the safety, tolerability, and efficacy of ABSK043 combined with citric acid giredestrant in patients with locally advanced or metastatic NSCLC carrying KRAS G12C mutations [1] - The collaboration agreement between Heyu Biopharmaceutical and Ailis was established in March 2025 for the combined treatment of ABSK043 and citric acid giredestrant [1] - Previous disclosures indicated another collaboration exploring the combination of ABSK043 with Ailis's developed Vemurafenib for treating advanced NSCLC, with the first patient dosing expected to be completed by December 2024 [1] Group 2 - Updated Phase I study results show that ABSK043 as a monotherapy has demonstrated good safety and impressive anti-tumor activity, particularly in patients with high PD-L1 expression and those with EGFR or KRAS mutations [1]

8月20日，和誉-B回购10.00万股股票，每股回购均价16.07港元，共耗资约160.73万港元，本年累计回购 992.90万股，占总股本1.47%。 截至当日港股收盘，和誉-B下跌5.44%，报16.16港元/股。 和誉-B近期回购情况 回购日期回购均价回购股数回购金额本年累计回购股数2025-08-2016.07310.00万160.73万992.90万2025- 08-0511.0318.40万92.66万982.90万2025-07-0410.30220.00万206.03万974.50万2025-06-2710.04020.00万 200.80万954.50万2025-06-2010.24010.00万102.40万934.50万2025-06-179.91645.00万446.20万924.50万 2025-06-1310.23210.00万102.32万879.50万2025-06-1210.23510.00万102.35万869.50万2025-06- 059.15870.00万641.06万859.50万2025-05-238.52630.00万255.78万789.50万2025-05- ...

Core Viewpoint - Shanghai Heyu Biopharmaceutical Technology Co., Ltd. announced the approval of its IND application for the oral PD-L1 inhibitor ABSK043 in combination with the KRAS G12C inhibitor, citric acid gorasetinib, for treating KRAS G12C mutated non-small cell lung cancer (NSCLC) patients [1] Group 1 - The IND application was approved by the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA) of China [1] - The study is an open-label Phase II clinical trial assessing the safety, tolerability, and efficacy of ABSK043 in combination with citric acid gorasetinib for patients with locally advanced or metastatic NSCLC carrying KRAS G12C mutations [1] - A previous collaboration between Heyu and Elysium was disclosed to explore the combination of ABSK043 with Elysium's developed drug, furmetinib, for treating advanced NSCLC, with the first patient dosing expected to be completed by December 2024 [1] Group 2 - Updated Phase I study results show that ABSK043 as a monotherapy has good safety and impressive anti-tumor activity, with higher response rates observed in patients with high PD-L1 expression and those with EGFR or KRAS mutations [1]

Core Viewpoint - The approval of the IND application for the oral PD-L1 inhibitor ABSK043 in combination with the KRAS G12C inhibitor from Shanghai Elysium Pharmaceutical Technology Co., Ltd. marks a significant advancement in the treatment of KRAS G12C mutated non-small cell lung cancer (NSCLC) patients [1] Group 1 - The IND application was approved by the Center for Drug Evaluation (CDE) of the National Medical Products Administration of China [1] - The collaboration agreement between the company and Elysium regarding the combined use of ABSK043 and citric acid gorasetinib tablets was reached in March 2025 [1] - The study is an open-label Phase II clinical trial assessing the safety, tolerability, and efficacy of ABSK043 in combination with citric acid gorasetinib tablets for patients with locally advanced or metastatic NSCLC carrying the KRAS G12C mutation [1]

Core Viewpoint - The approval of the IND application for the oral PD-L1 inhibitor ABSK043 in combination with the KRAS G12C inhibitor from Shanghai Elysium Pharmaceutical for treating KRAS G12C mutated non-small cell lung cancer (NSCLC) patients marks a significant advancement in cancer treatment [1] Group 1 - The IND application for the combination therapy has been approved by the Center for Drug Evaluation (CDE) of the National Medical Products Administration of China [1] - The collaboration agreement between the company and Elysium regarding the use of ABSK043 with the citric acid gorasetinib tablets is set to be effective from March 2025 [1] - The approved study is an open-label Phase II clinical trial assessing the safety, tolerability, and efficacy of ABSK043 in combination with citric acid gorasetinib for patients with locally advanced or metastatic NSCLC carrying KRAS G12C mutations [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，概不就因本公告全部或任何部分內容所產生或因依 賴該等內容而引致的任何損失承擔任何責任。 Abbisko Cayman Limited 和譽開曼有限責任公司 （於開曼群島註冊成立的有限公司） （股份代號：2256） 自願性公告 和譽醫藥的口服PD-L1抑制劑ABSK043與艾力斯的 KRAS G12C抑制劑枸櫞酸戈來雷塞片聯合用藥治療NSCLC的 IND申請獲CDE批准 徐耀昌博士 主席 上海，2025年8月20日 於本公告日期，本公司董事會包括執行董事徐耀昌博士、喻紅平博士及嵇靖博 士；以及獨立非執行董事孫飄揚博士、孫洪斌先生及徐海音女士。 1 和譽醫藥的口服PD-L1抑制劑ABSK043與艾力斯的KRAS G12C抑制劑枸櫞 酸戈來雷塞片聯合用藥治療NSCLC的IND申請獲CDE批准 於2025年8月20日，上海和譽生物醫藥科技有限公司（「和譽醫藥」）宣佈，其在研 的口服PD-L1抑制劑ABSK043與上海艾力斯醫藥科技股份有限公司（「艾力斯」）的 KRAS G12C抑制劑枸櫞酸戈來雷塞 ...

格隆汇8月20日丨和誉-B(02256.HK)公告，8月20日耗资161万港元回购10万股。 ...