Group 1 - The company reported a mid-year performance for 2025, with R&D costs of 88.758 million yuan, a year-on-year decrease of 35.6%, and administrative expenses of 38.775 million yuan, down 3.3%. The loss attributable to shareholders was approximately 112 million yuan, a reduction of 48.79% year-on-year [1] - Since its establishment in 2017, the company has developed a pipeline of 11 candidate drugs, including the core product TY-9591, which is currently preparing for a conditional NDA application for the treatment of EGFR mutation lung cancer brain metastases and is undergoing a registration Phase III clinical trial in China for the treatment of EGFR L858R mutation locally advanced or metastatic NSCLC [1] Group 2 - The company will focus on market demand and deepen the research and innovation of self-developed cutting-edge products, leveraging AI models to enhance collaboration with top international teams for efficient new molecule development [2] - A new solid dosage form factory project is underway, which will add tablet and capsule production lines, with an expected annual capacity of 150 million tablets or capsules, supporting clinical drug production and partial commercialization of TY-9591 [2] - The commercial team has been initially established with core management members possessing extensive experience in promotion and commercialization, aiming to systematically build a sales and marketing system through internal efforts and external partnerships [3]

TYK Medicines, Inc 浙江同源康醫藥股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 李鈞博士 顧虹博士 蔣鳴昱博士 何超先生 朱向陽博士 獨立非執行董事 張森泉先生 冷瑜婷博士 許文青博士 沈秀華博士 1 董事會設立四個委員會。下表提供各董事會成員所在委員會的成員資料。 （股份代號：2410） 董事名單與其角色和職能 浙江同源康醫藥股份有限公司董事會（「董事會」）成員如下。 執行董事 吳豫生博士 非執行董事 | | 委員會 | | 薪酬與考核 | | | | --- | --- | --- | --- | --- | --- | | 董事 | | 審計委員會 | 委員會 | 提名委員會 | 科學委員會 | | 吳豫生博士 | | | M | C | C | | 李鈞博士 | | M | | | M | | 顧虹博士 | | | | | | | 蔣鳴昱博士 | | | | | | | 何超先生 | | | | | | | 朱向陽博士 | | | | | | | 張森泉先生 | | C | M | M | | | 冷瑜婷博士 | | M | C | M | | | 許文青博士 | | | ...

理財產品認購 董事會宣佈，作為資金運作的一部分，本集團已於2025年2月18日至2025年3月 15日期間認購中信銀行發行的五項理財產品。 投資於基金及贖回基金權益 於2025年1月2日，本公司亦投資於6項基金（以獨立投資組合公司權益及有限合 夥基金權益形式）。該等權益其後由本公司贖回（詳見本公告）。 上市規則的涵義 由於認購事項的性質相似，且均於12個月內與同一金融機構中信銀行訂立，故 就根據上市規則第14.22條計算相關百分比率而言，相關理財產品的相應本金應 與本集團當時持有相關金融機構的理財產品尚未到期結餘合併計算。 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意見，並明確表示概不就因本公告全部或任何部分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。 TYK Medicines, Inc 浙江同源康醫藥股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2410） 須予披露交易 認購理財產品； 投資及贖回基金權益；及 更新全球發售閒置資金用途 由於有關與同一金融機構進行的認購事項的最高適用百分比率（定義見上市規 則 ...

Financial Performance - For the six months ended June 30, 2025, the total comprehensive loss was RMB 114,065,000, a decrease of 48.0% compared to RMB 219,533,000 for the same period in 2024[2]. - The company reported a loss attributable to ordinary shareholders of RMB 112,177,000 for the six months ended June 30, 2025, compared to a loss of RMB 219,053,000 for the same period in 2024, indicating a reduction in losses by approximately 48.9%[24]. - Basic and diluted loss per share for the period was RMB 0.30, down from RMB 0.68 in the previous year, reflecting an improvement in financial performance[24]. - Total revenue for the six months ended June 30, 2024, and June 30, 2025, was RMB 0[64]. - Financial costs increased by 35.3% from RMB 5,431,000 for the six months ended June 30, 2024, to RMB 7,349,000 for the six months ended June 30, 2025[72]. Research and Development - Research and development costs were RMB 88,758,000, down 35.6% from RMB 137,758,000 in the previous year[2]. - The R&D team consists of 113 members, with approximately 56% holding master's or doctoral degrees in relevant fields[62]. - The company has established four comprehensive technology platforms for small molecule drug development, focusing on kinase biology and drug discovery[61]. - The company aims to improve pipeline feasibility and accelerate product development cycles through its advanced R&D capabilities and infrastructure[62]. - The company is developing next-generation ADCs that utilize high-activity small molecule inhibitors and PROTAC technology to improve safety and efficacy[90]. Clinical Trials and Drug Development - The core product TY-9591 has completed enrollment of 224 patients for its pivotal Phase II clinical trial, with a Pre-NDA submission expected in Q4 2025[36]. - The company is conducting a Phase III clinical trial for TY-9591 in China, with 541 patients enrolled as of July 2025, and full enrollment expected by Q2 2026[36]. - The company has initiated a Phase II clinical trial for TY-302 in breast cancer, with the trial for prostate cancer receiving ethics approval on July 10, 2025[37]. - The Phase I clinical trial for TY-2136b is ongoing in the U.S., with plans to communicate with the FDA based on collected data[38]. - TY-0540 has received regulatory approval for multiple combination therapies, with ongoing trials for breast and prostate cancer[40]. Financial Position - Non-current assets totaled RMB 311,123,000, a decrease from RMB 346,718,000 as of December 31, 2024[5]. - Current assets decreased to RMB 483,298,000 from RMB 568,975,000 in the previous year[5]. - Total liabilities decreased to RMB 259,331,000 from RMB 289,081,000 as of December 31, 2024[6]. - Net assets were reported at RMB 358,497,000, down from RMB 472,562,000 in the previous year[6]. - Cash and cash equivalents decreased to RMB 131,082,000 as of June 30, 2025, from RMB 374,988,000 at the end of 2024, a decline of approximately 65%[30]. Corporate Governance - The company has adopted a corporate governance code and has complied with all provisions except for the deviation where the roles of Chairman and CEO are held by the same person, Dr. Wu Yusheng[96]. - The board currently consists of one executive director, five non-executive directors, and four independent non-executive directors, ensuring strong independence[96]. - The company has appointed 4 vice presidents and 1 financial officer, all of whom are subject to board appointment or dismissal[112]. - The proposed amendments to the articles of association will be subject to approval by shareholders at an extraordinary general meeting[112]. Employee and Organizational Changes - As of June 30, 2025, the company has 163 employees, an increase from 144 employees as of June 30, 2024[88]. - The company plans to enhance its R&D capabilities by developing innovative drug candidates targeting CDK4, EGFR (PROTAC), and PI3Ka, among others[90]. - The commercialization team has been established with experienced members, focusing on building a systematic sales and marketing framework[94]. Funding and Investments - The government funding increased from RMB 103,205 thousand in 2024 to RMB 118,866 thousand in 2025, reflecting a growth of approximately 15.2%[34]. - The company has agreed to invest RMB 18.0 million in a newly established fund as a limited partner, in partnership with several entities including Tengyuan Changxing and Huzhou Innovation[86].

Core Insights - The article highlights the changes in the Hong Kong Stock Connect holdings, indicating significant increases and decreases in ownership percentages for various companies [1][2][3][4]. Summary by Category Increase in Holdings - The companies with the largest increases in Hong Kong Stock Connect holdings include: - Hang Seng China Enterprises (02828) with an increase of 5.48%, bringing the total holding to 6.10% - Tracker Fund of Hong Kong (02800) with an increase of 4.07%, totaling 4.76% - Anjoy Foods (02648) with an increase of 1.74%, now at 15.81% [2] - Other notable increases include: - Angelalign Technology (06699) +1.66% to 23.03% - Ganfeng Lithium (01772) +1.44% to 34.51% - East China Environmental Protection (00895) +1.44% to 43.67% [2] Decrease in Holdings - The companies with the largest decreases in Hong Kong Stock Connect holdings include: - Kinglong Motor Group (06680) with a decrease of 3.39%, now at 24.56% - Interstellar Technology (01725) with a decrease of 2.02%, totaling 10.16% - Goldwind (02208) with a decrease of 1.48%, now at 41.84% [3] - Other notable decreases include: - ZTE Corporation (00763) -1.35% to 56.09% - Longpan Technology (02465) -1.08% to 49.62% [3] Five-Day Changes - Over the last five trading days, the companies with the largest increases in holdings are: - Lens Technology (06613) +6.93% to 13.85% - ZTE Corporation (00763) +5.92% to 56.09% - Tongyu Pharmaceutical-B (02410) +5.40% to 14.72% [4] - The companies with the largest decreases in holdings over the same period include: - Hang Seng China Enterprises (02828) -14.01% to 6.10% - Tracker Fund of Hong Kong (02800) -4.36% to 4.76% [4] Twenty-Day Changes - In the last twenty days, the companies with the largest increases in holdings are: - Meizhong Jiahe (02453) +12.09% to 37.34% - Changfei Optical Fiber (06869) +10.66% to 54.73% - Tongyu Pharmaceutical-B (02410) +8.30% to 14.72% [5] - The companies with the largest decreases in holdings over the same period include: - Yisou Technology (02550) -10.13% to 47.88% - Chongqing Steel (01053) -5.27% to 31.55% [6]

Core Viewpoint - Tongyuan Kang Pharmaceutical-B (02410) has seen a significant increase in stock price, rising by 6.23% to HKD 16.37, following the announcement of a potential exclusive agency agreement for its core product TY-9591 with Sichuan Huiyu Pharmaceutical's subsidiary, Sichuan Huichenxing [1] Group 1 - The company plans to appoint Sichuan Huichenxing as the exclusive agent for TY-9591 in mainland China, excluding Hong Kong, Macau, Taiwan, and other overseas regions [1] - The initial milestone payment for this potential agency agreement could reach up to RMB 150 million [1] - The company is entering the commercialization phase for TY-9591, and the agreement is expected to leverage Sichuan Huiyu's extensive sales and agency network [1] Group 2 - Sichuan Huiyu is a mature pharmaceutical enterprise with a complete industrial chain and rich experience in drug agency and sales in China [1] - The arrangement is anticipated to enhance sales and revenue for TY-9591, accelerate market penetration, and reduce the costs associated with establishing new sales channels [1] - Collaborating with a well-known pharmaceutical company is expected to strengthen the company's brand image [1]

Core Viewpoint - Tongyuan Kang Pharmaceutical-B (02410) has seen a significant increase in stock price, rising by 6.23% to HKD 16.37, with a trading volume of HKD 3.5768 million, following the announcement of a potential exclusive agency agreement for its core product TY-9591 with Sichuan Huiyu Pharmaceutical's subsidiary Sichuan Huichenxing [1] Group 1 - The company plans to enter into a potential exclusive agency agreement with Sichuan Huichenxing for TY-9591 in mainland China, excluding Hong Kong, Macau, Taiwan, and other overseas regions [1] - The initial milestone payment under this potential agreement could reach up to RMB 150 million [1] - The company is entering the commercialization phase for TY-9591, and if the agency arrangement is finalized, it will leverage Sichuan Huichenxing and Sichuan Huiyu's extensive sales and distribution network [1] Group 2 - Sichuan Huiyu is a mature pharmaceutical enterprise with a complete industrial chain and extensive experience in drug agency and sales in China [1] - The company believes that this arrangement will enhance the sales and revenue of TY-9591, accelerate market penetration, reduce costs associated with establishing new sales channels, and strengthen its brand image through collaboration with a well-known pharmaceutical company [1]

Core Viewpoint - Tongyuan Kang Pharmaceutical-B (02410) announced a potential exclusive agency agreement for its core product TY-9591 with Sichuan Huicheng Pharmaceutical Co., Ltd. (Sichuan Huicheng), which is a wholly-owned subsidiary of Sichuan Huicheng [1] Group 1 - Sichuan Huicheng's board approved the potential agency agreement for TY-9591, which will allow Sichuan Huicheng to act as the exclusive agent in mainland China, excluding Hong Kong, Macau, Taiwan, and other overseas regions [1] - The initial milestone payment for this agreement could reach up to RMB 150 million [1] - The company is entering the commercialization phase for TY-9591, and if the agency arrangement is finalized, it will leverage Sichuan Huicheng's extensive sales and distribution network [1] Group 2 - Sichuan Huicheng is a mature pharmaceutical enterprise with a complete industry chain and rich experience in drug agency and sales in China [1] - The company believes that this arrangement will enhance the sales and revenue of TY-9591, accelerate market penetration, reduce costs associated with establishing new sales channels, and strengthen its brand image through collaboration with a well-known pharmaceutical company [1]

Core Viewpoint - The announcement indicates that Sichuan Huiyu Pharmaceutical Co., Ltd. has approved a potential agency agreement for the core product TY-9591, which could enhance sales and market penetration in China [1] Group 1: Agreement Details - Sichuan Huichen Pharmaceutical Co., Ltd., a wholly-owned subsidiary of Sichuan Huiyu, may be appointed as the exclusive agent for TY-9591 in mainland China, with an initial milestone payment of up to RMB 150 million [1] - The potential agency arrangement is aimed at leveraging the existing sales and distribution network of Sichuan Huichen and Sichuan Huiyu [1] Group 2: Strategic Implications - The arrangement is expected to accelerate market penetration and reduce costs associated with establishing new sales channels for TY-9591 [1] - Collaborating with a well-established pharmaceutical company like Sichuan Huiyu is anticipated to strengthen the company's brand image in the market [1]

TYK Medicines, Inc 浙江同源康醫藥股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2410） 內幕消息 與四川匯宇製藥股份有限公司之潛在總代理安排 本公告乃由浙江同源康醫藥股份有限公司（「本公司」，連同其附屬公司統稱「本集 團」）根據香港法例第571章證券及期貨條例第XIVA部項下內幕消息條文及香港聯 合交易所有限公司證券上市規則（「上市規則」）第13.09條作出。 本公司董事（「董事」）會（「董事會」）謹此知悉，四川匯宇製藥股份有限公司（「四 川匯宇」）已於2025年8月26日刊發公告，內容有關其董事會批准四川匯辰昕藥 業有限公司（「四川匯辰昕」）（四川匯宇之全資附屬公司）與本公司就TY-9591（本 公司之核心產品）訂立潛在總代理協議（「潛在總代理安排」）。根據潛在總代理安 排，本公司可同意委任四川匯辰昕為TY-9591在中華人民共和國（不包括香港、澳 門、台灣及任何其他海外地區）的獨家總代理商，初始里程碑付款金額最高可達 人民幣150百萬元。 本公司與四川匯辰昕現就潛在總代理安排之其他商業條款進行磋商，包括但不限 於里程碑、四川匯辰昕付款責任之付款時間表及潛在總代 ...