Core Viewpoint - The MSCI China Healthcare Index has increased by 74.0% year-to-date, outperforming the MSCI China Index by 37.3% [1] Group 1: Market Trends - The recovery in capital market financing and the increase in overseas trading scale for innovative drugs have led to a rebound in domestic innovative drug research and development demand [1] - The CXO industry is expected to see performance recovery in the second half of the year due to the impact of U.S. interest rate cuts [1] Group 2: Regulatory Impact - The anticipated increase in tariffs on innovative drugs by the U.S. is expected to have a limited impact on the CXO sector [1] - Many multinational pharmaceutical companies already have plans to establish factories in the U.S., which may mitigate potential negative effects [1] Group 3: Future Outlook - The ongoing upward momentum for innovative drugs is expected to primarily come from overseas partners driving clinical progress for authorized pipelines [1] - There is optimism regarding valuation recovery opportunities in consumer healthcare, with recommendations to buy stocks in companies such as 3SBio, Junshi Biosciences, WuXi AppTec, Genscript Biotech, China National Pharmaceutical Group, and Innovent Biologics [1]

固生堂回购明细 | 日期 | 回购股数 | 回购最高价 | 回购最低价 | 回购金额 | | --- | --- | --- | --- | --- | | | （万股） | （港元） | （港元） | （万港元） | | 2025.09.29 | 12.70 | 30.020 | 29.070 | 379.58 | | 2025.09.26 | 10.00 | 30.880 | 30.500 | 306.40 | | 2025.09.25 | 14.00 | 31.520 | 31.140 | 438.15 | | 2025.09.24 | 15.00 | 31.620 | 31.160 | 470.04 | | 2025.09.23 | 24.00 | 32.040 | 31.500 | 760.89 | | 2025.09.22 | 6.74 | 32.700 | 32.440 | 219.61 | | 2025.09.19 | 14.18 | 33.320 | 32.900 | 469.63 | | 2025.09.18 | 13.20 | 33.800 | 33.360 | 443.11 | | 2 ...

固生堂(02273)发布公告，于2025年9月29日斥资379.58万港元回购股份12.7万股，每股回购价格为29.07- 30.02港元。 ...

智通财经APP讯，固生堂(02273)发布公告，于2025年9月29日斥资379.58万港元回购股份12.7万股，每股 回购价格为29.07-30.02港元。 ...

Core Viewpoint - The company, Guoshengtang (02273.HK), announced a share buyback of 127,000 shares at a cost of HKD 3.8 million on September 29 [1] Summary by Category Company Actions - Guoshengtang executed a buyback of 127,000 shares, indicating a commitment to enhancing shareholder value [1] Financial Details - The total expenditure for the buyback was HKD 3.8 million, reflecting the company's financial strategy to utilize available capital for share repurchase [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 固生堂控股有限公司 呈交日期： 2025年9月29日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02273 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔有關事 ...

Group 1 - The core viewpoint of the reports indicates a recovery in domestic innovative drug research and development due to the resurgence of capital market financing and an increase in overseas transactions for innovative drugs [1] - The price of experimental monkeys, essential for innovative drug research, has risen from approximately 85,000 yuan in mid-2024 to about 90,000 yuan [1] - The CXO industry is expected to see performance recovery in the second half of 2025, driven by the continuous upward momentum of innovative drugs primarily from overseas partners pushing clinical pipelines [1] Group 2 - The report highlights a shift in global early-stage drug innovation research from Europe and the US to China, with multinational pharmaceutical companies increasingly sourcing innovative pipelines from Chinese biotech firms [1] - The proposed administrative order by the Trump administration to restrict the import of experimental treatments from China has sparked intense lobbying from two opposing groups: US biotech investors facing competition from Chinese innovations and large pharmaceutical companies benefiting from low-cost Chinese drugs [1] - The report emphasizes that the income and profit scale of large US pharmaceutical companies far exceed that of US biotech firms, suggesting they may have greater lobbying influence [1] Group 3 - The announcement of a 100% tariff on patented drugs unless pharmaceutical companies build factories in the US is expected to have a limited impact on the CXO sector, as many multinational companies already have plans to establish facilities in the US [2] - Significant investment plans have been announced by several multinational pharmaceutical companies for building factories and R&D facilities in the US, including Eli Lilly's $27 billion and Roche's $50 billion investments over the next five years [2] - The report notes that the construction of factories in the US typically takes over five years, and the progress may be affected by political and market uncertainties [2]

Summary of Key Points Core Viewpoint - The company, Guosheng Tang, has been actively repurchasing its shares, indicating a strategy to support its stock price amid a recent decline in share value [2]. Share Buyback Details - On September 26, the company repurchased 100,000 shares at prices ranging from HKD 30.500 to HKD 30.880, totaling HKD 3.064 million [2]. - The stock closed at HKD 30.420 on the same day, reflecting a decrease of 2.25%, with a total trading volume of HKD 58.2646 million [2]. - Since September 10, the company has conducted share buybacks for 13 consecutive days, acquiring a total of 1.4272 million shares for a cumulative amount of HKD 46.2512 million, during which the stock price has dropped by 8.62% [2]. - Year-to-date, the company has executed 36 buybacks, totaling 4.3818 million shares and an aggregate buyback amount of HKD 141 million [2]. Buyback Price Trends - The highest buyback price recorded was HKD 37.700 on June 6, while the lowest was HKD 28.100 on April 7 [3]. - The buyback activity shows a consistent effort to stabilize the stock price, with varying amounts and prices over the months [3].

GUSHENGTANG HOLDINGS LIMITED 固 生 堂 控 股 有 限 公 司 (Incorporated under the laws of the Cayman Islands with limited liability) （根據開曼群島法律註冊成立的有限公司） (Stock Code 股份代號: 2273) NOTIFICATION LETTER 通知信函 29 September 2025 Dear Non-Registered Shareholder(1) , GUSHENGTANG HOLDINGS LIMITED ("Gushengtang") — Notification of publication of 2025 Interim Report ("Current Corporate Communication") on the Company's website The Current Corporate Communication of Gushengtang, in both English and Chinese versions, is available on t ...

Dear Shareholder, 29 September 2025 GUSHENGTANG HOLDINGS LIMITED (the "Company") – Notification of publication of 2025 Interim Report ("Current Corporate Communications") NOTIFICATION LETTER 通知信函 GUSHENGTANG HOLDINGS LIMITED 固 生 堂 控 股 有 限 公 司 (Incorporated under the laws of the Cayman Islands with limited liability) （根據開曼群島法律註冊成立的有限公司） （Stock Code股份代號：2273） Note: Corporate Communications include but not limited to (a) directors' reports, annual accounts together with the auditors' reports and, where applica ...