Core Viewpoint - WuXi AppTec (02359) has completed the sale of all shares of Kande Hongyi and Jinshi Pharmaceutical to Hillhouse Capital, receiving the first payment of RMB 1.54 billion, with the transaction now finalized [1] Group 1: Transaction Details - WuXi AppTec has received the first installment of the transfer price amounting to RMB 1.54 billion as per the equity transfer agreement [1] - The prerequisites for the transaction have been met, and the equity transfer has been completed, meaning Kande Hongyi and Jinshi Pharmaceutical will no longer be included in the company's consolidated financial statements [1] - The parties involved will proceed with the necessary procedures for the equity change registration, expected to be completed by December 31, 2025 [1] Group 2: Financial Impact - The transaction is expected to generate an after-tax net profit of approximately RMB 960 million, which represents over 10% of the company's latest audited net profit attributable to shareholders for the fiscal year 2024 [1] - The company will account for the investment income according to Chinese Accounting Standards and International Financial Reporting Standards, with the specific impact to be confirmed by the annual audit [1]

药明康德公告，上海药明已收到高瓴按股权转让协议约定足额支付的第一期转让对价人民币15.4亿元， 股权转让协议约定的交割先决条件已满足，本次交易已完成交割，康德弘翼及津石医药不再纳入本公司 合并报表范围。经初步核算，本次交易预计产生税后净利润约人民币9.6亿元，占公司最近一期(即2024 年度)经审计归母股东净利润的比例超过10%。 ...

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之內容概不負責，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分內容而產生或 因依賴該等內容而引致之任何損失承擔任何責任。 WUXI APPTEC CO., LTD. * 無錫藥明康德新藥開發股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2359） 海外監管公告 本海外監管公告乃由本公司根據香港聯合交易所有限公司證券上市規則第 13.10B條作出。 茲載列本公司在上海證券交易所網站刊登的以下資料中文全文，僅供參閱。 承董事會命 無錫藥明康德新藥開發股份有限公司 董事長 李革博士 香港，2025年12月15日 截至本公告日期，本公司董事會包括執行董事李革博士、陳民章博士、楊青博士及張朝暉先生； 非執行董事童小幪先生及吳亦兵博士；以及獨立非執行董事盧韶華女士、俞衛博士、張新博士、 詹智玲女士及冷雪松先生。 * 僅供識別 证券代码：603259 证券简称：药明康德 公告编号：临2025-073 无锡药明康德新药开发股份有限公司 关于出售资产进展公告 无锡药明康德新药开发股份有限公司董事会 2025 年 12 ...

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，並表明概不就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。 WUXI APPTEC CO., LTD. * 無錫藥明康德新藥開發股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2359） 有關出售附屬公司完成交割 的業務發展最新情況 茲提述無錫藥明康德新藥開發股份有限公司（「本公司」）日期為2025年10月24日 的公告（「該公告」），內容有關上海藥明出售而高瓴購買康德弘翼及津石醫藥 的所有股份。除非文意另有所指，否則本公告所用詞彙與該公告所定義詞彙具 有相同涵義。 截至本公告日期，上海藥明已收到高瓴按股權轉讓協議約定足額支付的第一 期轉讓對價人民幣15.4億元，股權轉讓協議約定的交割先決條件已滿足，本次 交易已完成交割，康德弘翼及津石醫藥不再納入本公司合併報表範圍。康德弘 翼及津石醫藥及其他相關各方將按股權轉讓協定約定辦理本次交易涉及康德 弘翼及津石醫藥的股權變更登記手續，並預計在2025年12月31日之前完成變更 登記。 經本公司財務部門按中 ...

截止到公告日，转让方已收到受让方支付的第一个股权转让价款15.4亿元，交易已完成交割，目标公司 不再纳入公司合并报表范围。 本次交易预计产生税后净利润约9.6亿元，占公司最近一期（2024年度）经审计归母净利润的比例超过 10%。后续各方仍需继续履行《股权转让协议》项下的各项约定。 12月15日，药明康德发布公告称，此前公司全资子公司上海药明康德新药开发有限公司以28亿元的对 价，向上海世和融企业管理咨询有限公司及上海世和慕企业管理咨询有限公司转让其所持有的上海康德 弘翼医学临床研究有限公司和上海药明津石医药科技有限公司100%股权。 （药明康德公告） ...

证券代码：603259 证券简称：药明康德 公告编号：临2025-073 无锡药明康德新药开发股份有限公司 关于出售资产进展公告 二、交易进展 截至本公告日，转让方已收到受让方按《股权转让协议》约定足额支付的第 一期股权转让价款人民币 15.4 亿元，《股权转让协议》约定的交割先决条件已 满足，本次交易已完成交割，目标公司不再纳入公司合并报表范围。目标公司及 相关各方将按《股权转让协议》约定办理本次交易涉及的目标公司的市监局变更 登记手续，预计 2025 年 12 月 31 日之前完成变更登记。 经公司财务部门按中国企业会计准则初步核算，截至本公告日本次交易预计 产生税后净利润约 9.6 亿元，占公司最近一期（2024 年度）经审计归母股东净利 润的比例超过 10%。公司将根据中国企业会计准则与国际财务报告准则等有关需 适用的规定对投资收益进行会计处理，具体影响金额以注册会计师年度审计确认 后的结果为准。后续各方仍需继续履行《股权转让协议》项下的各项约定。敬请 投资者注意投资风险。 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 ...

Group 1 - BlackRock's long position in Wuxi AppTec Co., Ltd. H-shares decreased from 5.24% to 4.57% as of December 9, 2025 [1]

药明康德12月15日公告，公司全资子公司上海药明康德新药开发有限公司已收到受让方支付的首期股权 转让价款15.4亿元，《股权转让协议》约定的交割先决条件已满足，本次交易已完成交割，目标公司不 再纳入公司合并报表范围。预计本次交易将产生税后净利润约9.6亿元，占公司最近一期（2024年度） 经审计归母净利润的比例超过10%。目标公司及相关各方将按协议约定办理市监局变更登记手续，预计 2025年12月31日之前完成变更登记。 ...

Core Insights - The article highlights the top and bottom AH share premium rates as of December 15, with Northeast Electric (00042) leading at a premium of 900.00% and CATL (03750) at the bottom with a premium of -11.03% [1][2][3] Premium Rate Rankings - The top three AH stocks by premium rate are: - Northeast Electric (00042) with a premium of 900.00% and a deviation value of 26.91% [1][2] - Beijing Capital Machinery (00187) with a premium of 266.67% and a deviation value of 27.25% [1][2] - Hongye Futures (03678) with a premium of 265.78% and a deviation value of -3.92% [1][2] - The bottom three AH stocks by premium rate are: - CATL (03750) with a premium of -11.03% and a deviation value of -2.28% [1][3] - China Merchants Bank (03968) with a premium of -0.77% and a deviation value of -0.05% [1][3] - Heng Rui Medicine (01276) with a premium of 1.62% and a deviation value of -1.73% [1][3] Deviation Value Rankings - The top three AH stocks by deviation value are: - Beijing Capital Machinery (00187) with a deviation value of 27.25% [1][4] - Northeast Electric (00042) with a deviation value of 26.91% [1][4] - Hongxing Meikailong (01528) with a deviation value of 18.57% [1][4] - The bottom three AH stocks by deviation value are: - GAC Group (02238) with a deviation value of -19.95% [1][5] - First Tractor Company (00038) with a deviation value of -16.78% [1][5] - Longyuan Power (00916) with a deviation value of -13.18% [1][5]

Investment Rating - The report maintains a positive outlook on the pharmaceutical industry, recommending a focus on innovative drugs and sectors with improving performance, such as medical devices and upstream segments [3][4]. Core Insights - The pharmaceutical sector experienced a decline of 1.0% this week, ranking 17th among 31 sub-industries. The overall valuation of the pharmaceutical sector stands at 29.2 times earnings, placing it 10th among the primary industries [2][4][7]. - Key events include Fosun Pharma granting exclusive global rights for its oral GLP-1 drug to Pfizer, with potential total payments reaching $2.085 billion. Additionally, Eli Lilly's GLP-1/GIP/GCGR agonist Retatrutide showed promising Phase III clinical data, achieving a weight loss of 28.7% over 68 weeks [3][14][17]. - The report highlights significant mergers and acquisitions, such as Sobi's acquisition of Arthrosi for $950 million upfront and $550 million in milestone payments, and Zhaoli Pharmaceutical's planned acquisition of a multi-trace element injection asset group for approximately RMB 356 million [3][15][22]. Market Performance - The pharmaceutical index decreased by 1.0% this week, while the Shanghai Composite Index fell by 0.3%. The overall performance of the pharmaceutical sector was ranked 17th among 31 sub-industries [2][4][6]. - The report details the performance of various sub-sectors, with notable declines in medical circulation (-4.2%), offline pharmacies (-4.3%), and blood products (-4.1%), while medical R&D outsourcing saw an increase of 3.7% [7][11]. Recent Key Events - The report discusses recent business developments, including the approval of Shanghai Pharma's new drug, and the change of control at Tailong Pharmaceutical, which will now be under Jiang Pharmaceutical Holdings [20][22]. - It also notes the IPO application of Shiyao Innovation, which was accepted with a market value of RMB 47.9 billion, focusing on health-related sectors and innovative drugs [23]. Company Valuation - The report provides a valuation table for key companies in the pharmaceutical sector, indicating projected earnings per share (EPS) and price-to-earnings (PE) ratios for 2025 to 2027. For instance, Mindray Medical is projected to have a PE of 23 in 2025, while Hengrui Medicine is expected to have a PE of 48 [29].