Core Viewpoint - The company has experienced significant stock price growth and is actively repurchasing shares to reward investors, reflecting strong market recognition of its value [1][2]. Group 1: Financial Performance - As of June 30, the company achieved total revenue of 657 million RMB, a 20% year-on-year increase, with a net profit of 328 million RMB, up 59% from the previous year [3][4]. - The adjusted net profit reached 336 million RMB, marking a 56% increase year-on-year [4]. - The company has received over 150 million USD in cash from its collaboration with Merck, with potential future payments totaling up to 606 million USD [4]. Group 2: Product Development and Commercialization - The core product, Pimicotinib, has been recognized as a breakthrough therapy by multiple regulatory agencies, indicating strong commercial potential [2][3]. - The company has established a robust pipeline with 22 differentiated innovative research projects, focusing on oncology precision treatment and immune therapy [6][11]. - The second major product, Epagolatinib, has also been designated as a breakthrough therapy, showcasing the company's innovative capabilities in drug design [10][11]. Group 3: Market Position and Valuation - The company is positioned to capitalize on the growing global market for liver cancer treatments, projected to reach approximately 5.3 billion USD by 2029 [10][12]. - Current price-to-sales (PS) ratio stands at 14.01, indicating significant growth potential compared to peers with higher valuations [12].

公告称，收入主要为来自默克的授权收入。研发开支增加主要归因于推进管线项目。购回股份以提振市 场信心及提升股东价值。于2025年3月3日，董事会批准以不超过2亿港元的额度购回股份，以提振市场 信心及提升股东价值。截至2025年6月30日止6个月，公司共购回954.5万股股份(占于2025年1月1日已发 行股份总数的1.4%)，累计金额7530万港元。于2024年，亦合计购回2259.4万股股份，累计金额6870万 港元。 智通财经APP讯，和誉-B(02256)发布截至2025年6月30日止6个月中期业绩，该公司取得收入人民币6.12 亿元(单位下同)，同比增加23.1%;研发开支2.28亿元，同比增加6.02%;期内经调整利润3.36亿元，同比增 加56.03%;净利润3.28亿元，同比增加58.84%;每股基本盈利0.53元。 ...

Core Insights - The company reported a revenue of RMB 612 million for the six months ending June 30, 2025, representing a year-on-year increase of 23.1% [1] - Adjusted profit for the period was RMB 336 million, reflecting a significant year-on-year increase of 56.03% [1] - Net profit reached RMB 328 million, marking a year-on-year increase of 58.84% [1] - Basic earnings per share were reported at RMB 0.53 [1] Revenue Sources - The primary source of revenue was attributed to licensing income from Merck [1] R&D Expenditure - Research and development expenses amounted to RMB 228 million, which is a year-on-year increase of 6.02% [1] - The increase in R&D spending is primarily due to the advancement of pipeline projects [1] Share Buyback Program - The board approved a share buyback program with a limit of up to HKD 200 million to boost market confidence and enhance shareholder value [1] - As of June 30, 2025, the company repurchased 9.545 million shares, accounting for 1.4% of the total shares issued as of January 1, 2025, with a total expenditure of HKD 75.3 million [1] - In 2024, the company also repurchased a total of 22.594 million shares, with a cumulative expenditure of HKD 68.7 million [1]

Group 1 - The company reported total revenue of RMB 657.1 million for the six months ending June 30, 2025, with a profit of RMB 328.5 million, representing a year-on-year growth of 59% [1] - Research and development expenses increased from RMB 215.1 million for the six months ending June 30, 2024, to RMB 228.0 million for the six months ending June 30, 2025, an increase of RMB 12.9 million [1] - The increase in R&D spending is primarily attributed to the company's advancement of pipeline projects [1]

首席財務官指董事會不時委任負責財務管理的本公司高級職員。 公司秘書指本公司任何一名聯席公司秘書。 董事指董事會的董事。 本集團指本公司及其於有關時間的附屬公司及聯營公司，或如文義所指，就 本公司成為其現有附屬公司及聯營公司之控股公司前的期間而言，指本公司 現有附屬公司及聯營公司或其現有附屬公司及聯營公司或（視情況而定）其前 身所經營的業務。 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 和譽開曼有限責任公司 （「本公司」） 提名委員會 職權範圍 釋義 1. 就本職權範圍（「職權範圍」）而言： 董事會指本公司董事會。 上市規則指香港聯合交易所有限公司證券上市規則（經不時修訂）。 提名委員會指根據本職權範圍第2條以董事會決議案成立的提名委員會。 高級管理層指董事長、首席執行官、首席科學官、首席財務官及首席技術官 及薪酬待遇或建議薪酬待遇較董事會委任的任何高級職員更優厚的本公司任 何其他高級職員以及薪酬委員會釐定的本公司任何其他僱員。 股東指本公司股東。 聯交所指香港聯合交易所有限公司。 成立 2. 提名委員會於2021年9月16日以董事會 ...

和譽開曼有限責任公司（「本公司」）董事會（「董事會」）欣然宣佈本公司及其附屬 公司（「本集團」或「我們」）截至2025年6月30日止六個月（「報告期」）的未經審核 簡明綜合中期業績連同2024年相應期間的比較數字。 業務亮點 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） 截至2025年6月30日止六個月的中期業績公告 2025年年初至今，我們在諸多方面取得重大進展： 我們領先資產CSF-1R抑制劑匹米替尼 (ABSK021)的重要里程碑 治療腱鞘巨細胞瘤（「TGCT」）的NDA申請獲中華人民共和國國家藥品監督管理局 （「中國NMPA」）受理 1 • 於2025年6月，中國NMPA正式受理用於治療TGCT的匹米替尼的NDA。本 次NDA申請是基於全球III期MANEUVER研究第一部分的研究結果。在該 研究中，經盲法獨立評審委 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 FF301 II. 已發行股份及/或庫存股份變動 公司名稱: 和譽開曼有限责任公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02256 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD ...

Core Insights - The FGFR4 inhibitor ABSK011 combined with atezolizumab shows significant clinical potential for treating advanced hepatocellular carcinoma (HCC) with FGF19 overexpression, as highlighted in the phase II clinical study results presented at ESMO GI 2025 [1] - The study included 15 first-line (1L) and 18 second-line (2L) patients, with an overall objective response rate (ORR) of 51.7% and a median progression-free survival (mPFS) of 7.0 months [1][2] - ABSK011 has entered the registration clinical trial phase, with ongoing studies demonstrating its efficacy in both 1L and 2L HCC settings [2][3] Group 1: Clinical Study Results - ABSK011 shows a 50.0% ORR and 7.0 months mPFS in the 1L HCC subgroup, outperforming existing therapies like sorafenib and atezolizumab plus bevacizumab [2] - In the 2L HCC setting, ABSK011 demonstrates a 52.9% ORR and an expected mPFS of 8.3 months, significantly better than current treatments with ORR ranging from 5.9% to 12% and mPFS between 2.8 to 5.4 months [2] Group 2: Company Pipeline and Financial Projections - The company has a robust pipeline with over 20 drug candidates, including 10 in clinical development, primarily targeting solid tumors [3] - Revenue projections for the company are estimated at 630 million, 684 million, and 634 million yuan for 2025-2027, with net profits expected to be 45 million, 68 million, and 98 million yuan respectively [3]

Investment Rating - The report maintains a "Buy" rating for the company [6][7][15] Core Insights - The FGFR4 inhibitor ABSK011 shows exceptional potential in treating advanced hepatocellular carcinoma (HCC) in combination with atezolizumab, as evidenced by its inclusion in the "Top Trials" list at ESMO GI 2025 [1] - ABSK011 demonstrates significant clinical value in both first-line (1L) and second-line (2L) treatment settings for HCC, with an overall objective response rate (ORR) of 51.7% and a median progression-free survival (mPFS) of 7.0 months [2] - The 1L subgroup for ABSK011 shows an ORR of 50.0% and mPFS of 7.0 months, outperforming existing therapies such as sorafenib and atezolizumab plus bevacizumab [3] - ABSK011 has entered the registration clinical trial phase, with five ongoing IST clinical trials, including the ABSK-011-201 and ABSK-011-205 studies [4] - The company has a robust pipeline with over 20 drugs in development, including several in clinical stages targeting solid tumors [5] Financial Projections - Projected revenues for the company are estimated at CNY 630 million, CNY 684 million, and CNY 634 million for the years 2025 to 2027, respectively [6] - Expected net profits for the same period are projected to be CNY 45 million, CNY 68 million, and CNY 98 million [6]

Core Insights - The Chinese government emphasizes the importance of strengthening pharmaceutical innovation and research to support public health and the development of innovative drugs and medical devices [1] - The trend of Chinese innovative drugs going global is gaining momentum, with significant increases in business development (BD) transactions and funding [2][3] - The pharmaceutical sector is expected to recover in 2025, driven by high-value BD transactions and an improving policy environment [3][4] Industry Developments - The Chinese innovative drug market is projected to see a surge in international collaborations, with over 80 BD projects completed by 2025, indicating a growing global competitiveness [2] - In Q1 2025 alone, BD transactions reached 41, with a total value of approximately 369.29 billion USD, nearing the total for the previous year [2] - Major transactions include the licensing of PD-1/VEGF dual antibody SSGJ-707 to Pfizer for 60.5 billion USD and the global rights for Tislelizumab to Vor Bio for up to 42.3 billion USD [2] Company Highlights - Companies like 基石药业-B (02616) showcased innovative products at the AACR annual meeting, highlighting their advancements in clinical research [5] - 和誉-B (02256) received priority review for its CSF-1R inhibitor for treating TGCT, indicating regulatory support for innovative therapies [6] - 和铂医药 (02142) entered a significant strategic partnership with AstraZeneca, securing 1.75 billion USD in upfront payments and potential milestone payments totaling up to 44 billion USD [6] - 信达生物 (01801) aims to achieve 20 billion RMB in product sales by 2027, with multiple catalysts expected in the coming years, including potential drug launches and data readouts [7]