Summary of Key Points Core Viewpoint - As of November 21, 14 stocks reached their 52-week highs, with Hengfa Optical (01134), Chaowei Holdings (08059), and Cassava Resources (00841) leading the gains at 42.11%, 30.56%, and 22.49% respectively [1]. 52-Week Highs - Hengfa Optical (01134) closed at 0.375, with a peak price of 0.540, marking a 42.11% increase [1]. - Chaowei Holdings (08059) closed at 0.030, reaching a high of 0.047, reflecting a 30.56% rise [1]. - Cassava Resources (00841) closed at 0.200, with a maximum price of 0.207, indicating a 22.49% increase [1]. - Other notable stocks include Sibor Systems (08319) at 15.04%, MOS HOUSE (01653) at 11.46%, and Tianjin Jianfa (02515) at 5.19% [1]. 52-Week Lows - China Pengfei Group (03348) reached a low of 1.100, down 20.09% from its peak [1]. - China Information Technology (08178) closed at 0.285, reflecting a 19.35% decrease [1]. - XL Ernan Strategy - U (09799) saw a decline of 14.27% [1]. - Other significant declines include Hesai - W (02525) at -10.54% and MBC Bitcoin - U (03425) at -9.09% [1]. Additional Notable Stocks - Stocks like MBC Bitcoin (03430) and Tongyuan Kang Pharmaceutical - B (02410) also experienced declines of 6.64% and 6.62% respectively [2]. - The overall trend indicates a mix of significant gains in certain stocks while others are facing substantial losses, reflecting a volatile market environment [1][2].

Core Viewpoint - Weisheng Pharmaceutical-B (02561) experienced a significant increase of over 4% in stock price, reaching HKD 34.98 with a trading volume of HKD 966,400, following strategic partnerships announced during the 8th China International Import Expo [1] Group 1: Strategic Partnerships - Weisheng Pharmaceutical entered into a strategic cooperation for dual-chamber freeze-dried formulation technology with Dongfulong (300171), a leading domestic pharmaceutical equipment company [1] - The company also signed an industrial collaboration agreement with the Lingang New Area Administrative Committee and Lingang Group's trade platform, further implementing its strategy of "Global Innovation, China Acceleration" [1] Group 2: Product Showcase - This year marks Weisheng Pharmaceutical's debut as an exhibitor at the 8th China International Import Expo, showcasing two globally innovative drugs [1] - Among the showcased products, Parathyroid hormone replacement therapy is the world's first and only drug for treating adult chronic hypoparathyroidism (HP) [1] - The company also presented Longpei growth hormone, which aims to become a "potential best-in-class" drug [1]

Core Viewpoint - Vison Pharma-B (02561) experienced a significant stock increase of over 4%, closing at HKD 34.98 with a trading volume of HKD 966,400, following strategic partnerships announced during the 8th China International Import Expo [1] Group 1: Strategic Partnerships - Vison Pharma has entered into a strategic cooperation for dual-chamber lyophilized formulation technology with Dongfulong, a leading domestic pharmaceutical equipment company [1] - The company also signed an industrial collaboration agreement with the Lingang New Area Administrative Committee and Lingang Group's trade platform, furthering its strategy of "Global Innovation, China Acceleration" [1] Group 2: Product Launches - This year marks Vison Pharma's debut as an exhibitor at the 8th China International Import Expo, showcasing two globally innovative drugs [1] - Among the showcased products, Parathyroid hormone replacement therapy is the world's first and only drug for treating adult chronic hypoparathyroidism, while another product aims to become a "potential best-in-class" growth hormone [1]

Core Insights - The investment philosophy in the innovative drug sector is shifting from "investing in people" to "investing in assets," emphasizing the importance of molecules, technologies, and pipelines with significant commercial potential [1][4][7] - Traditional VC models in the biopharmaceutical industry are becoming ineffective, necessitating new organizational approaches to reduce trial and error costs [4][5][6] - Vivo Capital's new strategy, the "Vivo Accelerator," aims to identify high-quality drug assets globally and introduce them to China, leveraging the country's integrated advantages in clinical trials and resource allocation [1][8][10] Investment Strategy - Vivo Capital has raised $740 million for its public market strategy and currently manages over $7.5 billion in assets [1] - The "Vivo Accelerator" focuses on a broader range of assets, including mid-stage concept validation and clinical development, rather than just early-stage drug discovery [7][8] - The company employs a five-tier evaluation process for pipeline assets, considering scientific data and market competition to make informed decisions on resource allocation [9] Market Dynamics - The Chinese innovative drug market is experiencing a significant shift, with license-out transaction upfront payments in the first half of 2025 reaching approximately $2.64 billion, surpassing primary market financing [4][17] - The past decade saw around $200 billion invested in China's innovative drug sector, yet the annual sales of domestic innovative drugs are projected to be around 60 billion RMB (approximately $8.5 billion) in 2024, highlighting a substantial gap between investment and returns [5][6] Future Outlook - Vivo Capital anticipates that by the end of 2026, the Vivo Accelerator will yield industry-recognized results and potentially produce star projects [3] - The long-term outlook for the Hong Kong stock market is positive, with expectations of a sustained upward trend over the next three to four years, driven by improved asset quality and regulatory alignment [15][16] - The global pharmaceutical companies currently have approximately $1.2 trillion in available funds, creating opportunities for domestic innovative drug companies to engage in business development transactions [18][19] Operational Challenges - The complexity of drug development necessitates collaboration among various talent types, including those who identify market needs, researchers, and business development professionals [12] - The challenge lies in finding the right individuals who can effectively lead and integrate diverse expertise within the drug development process [12][13] - Vivo Capital emphasizes the importance of strategic mergers and acquisitions as a means of market integration and efficiency enhancement, rather than opportunistic transactions [19][20]

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10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 維昇藥業 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年11月6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) | 02561 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | USD | | 0.0001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 500,000,000 | USD | | 0.0001 | USD | | 50,000 | 本月底法定 ...

Group 1 - The stock of Vison Pharmaceutical-B (02561.HK) has increased by over 4%, currently up 4.68%, trading at 39.8 HKD [2]

Core Viewpoint - The recent prescription of Palopegteriparatide at a hospital in Hainan marks a significant milestone for the company in the endocrine innovation field, with the drug being the first and only parathyroid hormone replacement therapy globally [1][2]. Group 1: Company Developments - The stock of Viesheng Pharmaceutical (02561) rose by 4.68%, reaching HKD 39.8 [1]. - The CEO of Viesheng Pharmaceutical highlighted the importance of the first prescription of Palopegteriparatide as a step towards innovation in the endocrine sector [1]. - The company is committed to accelerating the domestic approval process for Palopegteriparatide and continuing its focus on innovative endocrine therapies [1]. Group 2: Product Pipeline - The company is advancing its long-acting growth hormone, Long-acting Growth Hormone, which is expected to be approved for domestic use in the second half of 2025, potentially becoming the third long-acting growth hormone in China [2]. - Viesheng Pharmaceutical has two unique products, namely Navepeptide and Palopegteriparatide, with the latter expected to submit a market application by the end of 2025 [2]. - Collaborations with WuXi Biologics and Anke Bio are in place to enhance local production and commercialize products, indicating a promising market outlook [2].

Group 1 - The core point of the news is that Viesheng Pharmaceutical-B (02561) has seen a stock increase of over 4%, attributed to the first prescription of Palopegteriparatide at a hospital in Hainan, marking a significant milestone for the company in the endocrine field [1] - Palopegteriparatide is the first and only parathyroid hormone replacement therapy approved in major markets in Europe and the US, indicating its potential to address traditional treatment challenges for patients [1] - The CEO of Viesheng Pharmaceutical emphasized the importance of this prescription as a step towards innovation in endocrine therapies and the company's commitment to accelerating the drug's approval process in China [1] Group 2 - The company is advancing its long-acting growth hormone, Longpei Growth Hormone, which is expected to be approved for domestic market launch in the second half of 2025, potentially becoming the third long-acting growth hormone in China [2] - Viesheng Pharmaceutical has two unique products, including Palopegteriparatide, which is anticipated to submit a market application by the end of 2025 [2] - Collaborations with WuXi Biologics and Anke Bio have been established to enhance local production and commercialization efforts, indicating a promising market outlook for the company's products [2]

Core Viewpoint - The appointment of Mr. Lu Ying as the Chief Financial Officer of Weisheng Pharmaceutical-B (02561.HK) is a strategic move aimed at enhancing the company's financial management and investor relations capabilities [3]. Group 1: Appointment Details - Weisheng Pharmaceutical-B announced the appointment of Mr. Lu Ying as CFO effective from October 13, 2025 [3]. - Mr. Lu Ying, aged 41, has over 19 years of financial management experience [3]. Group 2: Previous Experience - Prior to joining Weisheng Pharmaceutical, Mr. Lu served as CFO at Weimou Biotechnology (Zhejiang) Co., Ltd. from August 2021 to October 2025, focusing on corporate financing and investor relations [3]. - He held the position of Financial Director at Allergan Information Consulting (Shanghai) Co., Ltd. from August 2020 to August 2021, overseeing financial management and strategic planning [3]. - Mr. Lu worked at Bayer A.G. in various financial management roles from September 2010 to August 2020, with his last position being CFO of Bayer Healthcare, responsible for overall financial management in Hong Kong [3]. - Earlier in his career, he was a Senior Accountant at PwC from August 2006 to February 2010 [3]. Group 3: Educational Background - Mr. Lu obtained a Bachelor's degree in Economic and Trade English from Shanghai University of Finance and Economics in June 2006 [3].

Core Points - The company announced the appointment of Lu Ying as the Chief Financial Officer, effective from October 13, 2025 [1] Group 1 - Lu Ying has been appointed as the Chief Financial Officer of the company [1]