GIANT BIOGENE HOLDING CO., LTD 巨子生物控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 獲 豁 免 有 限 公 司） （股 份 代 號：2367） 董事名單及其角色和職能 巨子生物控股有限公司董事會（「董事會」）成 員 載 列 如 下： 執行董事 嚴建亞先生 （董 事 長） 葉娟女士 方娟女士 張慧娟女士 嚴鈺博女士 獨立非執行董事 黃進先生 單文華先生 黃斯穎女士 董 事 會 轄 下 設 有 四 個 委 員 會。下 表 載 列 各 董 事 會 成 員 在 這 些 委 員 會 中 所 擔 任 的 職 務。 | 董事會委員會 | 審 核 | 提 名 | 薪 酬 | 公司管治 | | --- | --- | --- | --- | --- | | 董 事 | 委員會 | 委員會 | 委員會 | 委員會 | | 嚴建亞先生 | | C | M | C | | 葉娟女士 | | | | | | 方娟女士 | | | | M | | 張慧娟女士 | | | | | | 嚴鈺博女士 | | | | | | 黃進先生 | M | M | | | | 單文華先生 | M | | C | ...

3. 會 議 GIANT BIOGENE HOLDING CO., LTD 巨子生物控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 獲 豁 免 有 限 公 司） （股 份 代 號：2367） 提名委員會 － 職權範圍 1. 成 員 2. 提名委員會的秘書 – 1 – 1.1 本公司提名委員會（「提名委員會」）須由本公司董事會（「董事會」）設 立， 且 大 部 分 成 員 應 為 獨 立 非 執 行 董 事。董 事 會 應 委 任 至 少 一 名 不 同 性 別 的 董 事 加 入 提 名 委 員 會。 1.2 提 名 委 員 會 的 主 席 須 由 董 事 會 委 任，並 須 由 董 事 長 或 提 名 委 員 會 中 的 獨 立 非 執 行 董 事 擔 任。 1.3 提 名 委 員 會 成 員 的 委 任 年 期 須 由 董 事 會 於 委 任 之 日 決 定。 2.1 提 名 委 員 會 的 秘 書 須 由 本 公 司 的 公 司 秘 書 擔 任。 2.2 提名委員會可不時委任其他任何具備合適資格及經驗的人士為提名 委 員 會 的 秘 書。 3.1 提 名 委 員 會 成 員 可 以 在 有 需 ...

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。 巨子生物控股有限公司（「本公司」、「公 司」或「巨子生物」）董 事（「董 事」）會（「董 事 會」）欣然宣佈本公司及其附屬公司（統 稱「本集團」）截 至2025年6月30日止六個月 （「報告期」）之未經審核簡明合併中期業績以及2024年 同 期 的 比 較 數 字。上 述 中 期業績根據《國 際 財 務 報 告 準 則》（「《國 際 財 務 報 告 準 則》」）編 製，並 已 經 本 公 司 審核委員會（「審核委員會」）審 閱。截 至2025年6月30日止六個月的中期業績未經 審 核，但 已 由 本 公 司 獨 立 核 數 師 安 永 會 計 師 事 務 所 根 據 香 港 會 計 師 公 會 頒 佈 的香港審閱工作準則第2410號「實 體 的 獨 立 核 數 師 對 中 期 財 務 資 料 的 審 閱」進 行 審 閱。 GIANT BIOGENE ...

Market Overview - The Hong Kong stock market experienced a significant decline in the afternoon, with the Hang Seng Index dropping by 1.27%, losing over 300 points. The Hang Seng China Enterprises Index and the Hang Seng Tech Index fell by 1.4% and 1.47% respectively, with the former barely holding above the 9000-point mark [2] - Major technology stocks, which serve as market indicators, continued to decline in the afternoon. Kuaishou and Meituan fell over 3%, while JD.com dropped by 2.5%. Baidu, NetEase, and Tencent saw declines close to 2%, and Xiaomi fell by 0.56%. Alibaba managed to stay slightly positive [3] Sector Performance - The financial sector, including banks, insurance companies, and Chinese brokerage firms, collectively underperformed, contributing to the overall market decline. The performance of individual stocks continued to be affected by ongoing earnings reports, with property management and real estate stocks experiencing significant drops [3] - Biopharmaceutical stocks faced a collective downturn, particularly in the innovative drug sector, following comments from Trump regarding the rapid imposition of tariffs on pharmaceuticals. This led to notable declines in various biopharma stocks [3] Specific Stock Movements - Several biopharmaceutical companies saw substantial declines, including Kanghao Ya-B (-8.59%), Qiansirui Biotechnology (-7.42%), and Kangfang Biotechnology (-7.10%). Other notable decliners included Xiansheng Pharmaceutical (-6.79%) and Shiyao Group (-6.36%) [3] - In contrast, the rare earth sector remained strong, benefiting from the implementation of supply reforms and multiple catalysts. Apple’s upcoming event on September 9, where the iPhone 17 series is expected to be launched, led to a rise in Apple-related stocks, with Lens Technology (300433) surging nearly 8% and reaching a new high since its listing [4]

Core Viewpoint - The stock of Giant Bio (02367) has dropped over 5%, currently down 5.7% at HKD 54.6, with a trading volume of HKD 560 million. The company is set to hold a board meeting to approve its mid-year results for 2025, amid negative media coverage affecting its performance during the 618 shopping festival [1]. Group 1: Financial Performance - According to China Merchants Securities International, the GMV growth rate for May and June has slowed to a mid-single-digit percentage year-on-year due to negative media sentiment [1]. - The firm projects that the company will achieve revenue and net profit of RMB 3.1 billion and RMB 1.2 billion respectively in the first half of 2025, primarily driven by sales growth of approximately 25% for Comfy and over 50% for Collgene [1]. - The target price for the stock remains unchanged at HKD 77.0 [1]. Group 2: Market Outlook - Caitong Securities believes that after the recovery of the data for Kefu Mei in July, sales are expected to gradually rebound in the second half of the year [1].

Core Viewpoint - The stock of Giant Bio (02367) has dropped over 5%, currently trading at 54.6 HKD with a transaction volume of 560 million HKD, amid negative media coverage affecting its performance during the 618 shopping festival [1] Group 1: Company Performance - Giant Bio is set to hold a board meeting to approve its mid-year results for 2025 [1] - According to China Merchants Securities International, the GMV growth rate for May to June has slowed to a mid-single-digit percentage year-on-year [1] - The firm projects that Giant Bio will achieve revenue and net profit of 3.1 billion and 1.2 billion RMB respectively in the first half of 2025, primarily driven by sales growth of approximately 25% for Comfy and over 50% for Collgene [1] Group 2: Market Outlook - The target price for Giant Bio remains unchanged at 77.0 HKD [1] - According to Caitong Securities, the sales data for Kefu Mei is expected to recover after resuming broadcasts in July, with a gradual sales rebound anticipated in the second half of the year [1]

Group 1 - The biotechnology sector in the Hong Kong stock market experienced a significant decline, with several companies reporting substantial drops in their stock prices [1] - Notable declines include Clover Biopharmaceuticals, which fell by 14.13%, and Beigene, which dropped by 8.33% [2] - Other companies such as Innovent Biologics and WuXi Biologics also saw declines exceeding 5%, indicating a broader trend of negative performance in the sector [1][2] Group 2 - The following companies reported specific percentage declines: Clover Biopharmaceuticals (-14.13%), Beigene (-8.33%), and Innovent Biologics (-6.50%) [2] - Additional companies with notable declines include Kintor Pharmaceutical (-6.38%), CanSino Biologics (-5.98%), and Zai Lab (-5.50%) [2] - The overall trend suggests a challenging environment for biotechnology stocks in the Hong Kong market [1]

Core Insights - The domestic beauty industry in China is entering a phase of deeper development, with market competition shifting from channel expansion to R&D innovation and precise positioning [1][3]. Company Performance - In the first half of 2025, domestic beauty companies showed significant performance differentiation. Shanghai Jahwa achieved revenue of 3.48 billion yuan, a year-on-year increase of 4.7%, and a net profit of 270 million yuan, up 11.7% [3]. - Marubi Biotech reported revenue of 1.769 billion yuan, a 30.83% increase, with a net profit of 186 million yuan, up 5.21%. The company focused on a big product strategy [3]. - Up Beauty Holdings projected revenue between 4.09 billion and 4.11 billion yuan, a year-on-year growth of 16.8% to 17.3%, with net profit expected to reach between 540 million and 560 million yuan, up 30.9% to 35.8% [3]. - Beitaini has not yet released its semi-annual report, but its Q1 revenue was 949 million yuan, down 13.51%, with a net profit of 28.34 million yuan, down 83.97% [4]. Market Trends - The market for functional skincare products in China is projected to reach approximately 48.743 billion yuan in 2024, with Beitaini holding an 11.71% market share [5]. - The sensitive skin market is becoming a hot sector, with consumer numbers expected to approach 100 million and a market size of around 45 billion yuan in 2024, reflecting a compound annual growth rate of 21.7% over the past three years [7]. - The demand for sensitive skin care is evolving, with consumers seeking products that offer multiple benefits beyond basic repair, such as whitening and anti-aging [7]. Technological Challenges - The sensitive skin market faces core technological bottlenecks, particularly in the area of whitening products, which often struggle to balance effectiveness and gentleness for sensitive skin [8]. - Companies like Ximu Yuan are focusing on R&D in sensitive skin whitening, with new ingredients aimed at addressing these challenges, although large-scale application remains difficult [8]. Competitive Landscape - The competition in the sensitive skin market has shifted from initial market entry to a deeper technological contest, where brands must address advanced needs like whitening and anti-aging while ensuring scientific validation [9].

Core Viewpoint - The domestic beauty industry in China is entering a phase of deeper development, with a shift in competition from channel expansion to R&D innovation and precise positioning [1] Group 1: Industry Performance - In the first half of 2025, domestic beauty companies showed significant performance differentiation, reflecting a competitive landscape that emphasizes R&D and innovation [2][3] - Shanghai Jahwa achieved revenue of 3.48 billion yuan, a year-on-year increase of 4.7%, and a net profit of 270 million yuan, up 11.7% [3] - Marubi Biological reported revenue of 1.769 billion yuan, a year-on-year increase of 30.83%, with a net profit of 186 million yuan, up 5.21% [3] - Up Beauty Holdings expects revenue between 4.09 billion and 4.11 billion yuan, a year-on-year increase of 16.8% to 17.3%, with net profit projected to be between 540 million and 560 million yuan, up 30.9% to 35.8% [3] Group 2: Market Trends - The sensitive skin market is becoming a hot sector, with the consumer base expected to approach 100 million by 2024, and the market size estimated at 45 billion yuan, with a compound annual growth rate of 21.7% over the past three years [6][7] - The sensitive skin market is projected to exceed 200 billion yuan, indicating a broad development prospect [6][7] - Consumers are increasingly seeking multi-functional products that combine repair with whitening, anti-aging, and sun protection [7] Group 3: Competitive Landscape - Brands are focusing on addressing the needs of sensitive skin, with companies like Giant Biological and Shanghai Jahwa targeting deeper skin barrier issues [7][8] - The market is witnessing a shift from generic solutions to more personalized care approaches, although the effectiveness and feasibility of these strategies still require market validation [8] - The sensitive skin whitening segment remains a core technical challenge, as traditional whitening ingredients often irritate sensitive skin, creating a dilemma for consumers [8]

Group 1 - The Hang Seng Index Company will announce the semi-annual review results of the Hang Seng series indices on August 22, 2025, with changes effective from September 8, 2025 [1] - Major brokerages, including UBS, Huatai Securities, and CICC, have released reports predicting adjustments to the Hang Seng Index, Hang Seng China Enterprises Index, and Hang Seng Composite Index [1][2] - CICC highlights the significant scale of passive funds tracking flagship indices, with ETF sizes for the Hang Seng Index, Hang Seng China Enterprises Index, and Hang Seng Technology Index being approximately $30.35 billion, $6.63 billion, and $26.12 billion respectively [1] Group 2 - Potential candidates for inclusion in the Hang Seng Index include Bank of Communications, Pop Mart, Yum China, XPeng Motors, Huazhu Group, JD Logistics, and Innovent Biologics [1][2] - UBS predicts that stocks likely to be included as blue-chip stocks are WuXi AppTec, Pop Mart, JD Logistics, Kingsoft, and Bank of Communications [2] - Historical data indicates that actual results of the Hang Seng Index's quarterly reviews may differ significantly from predictions based on market capitalization rankings [2] Group 3 - Companies such as Cao Cao Travel, InnoCare Pharma, and Chow Tai Fook are expected to be included in the Stock Connect list, which connects Hong Kong-listed companies with mainland investors [3] - CICC estimates that 19 stocks meet the criteria for inclusion in the Stock Connect, including Cao Cao Travel, InnoCare Pharma, and Nanshan Aluminum [3][4] - UBS forecasts potential additions to the Stock Connect list, including East Asia Bank, InnoCare Pharma-B, and Blue Moon Group [3] Group 4 - Huatai Securities also anticipates that 19 stocks may be added to the Stock Connect, including Yunzhisheng, Huiju Technology, and InnoCare Pharma-B [4] - Historical performance shows that newly included stocks in the Stock Connect tend to outperform the Hang Seng Index during the adjustment period, while stocks removed from the index face significant outflows [4]