Financial Performance - Total revenue for the six months ended June 30, 2025, was RMB 638.8 million, a decrease of 9.1% year-on-year[5]. - Net profit for the same period was RMB 90.2 million, down 14.4% compared to the previous year[5]. - Revenue for the period was RMB 638.8 million, a decrease of 9.1% compared to RMB 702.4 million in the same period of 2024[19]. - Gross profit for the first half of 2025 was RMB 525,219,000, down from RMB 540,560,000 in the previous year, reflecting a gross margin of approximately 82.2%[49]. - The group reported a pre-tax profit of RMB 90,174,000 for the period, compared to RMB 105,348,000 in 2024, reflecting a decrease of about 14.38%[67]. - The group incurred a total tax expense of RMB 14,089,000 for the period, down from RMB 24,485,000 in 2024, a decrease of approximately 42.06%[63]. - The company reported a total comprehensive income of RMB 90,174,000 for the first half of 2025, compared to RMB 105,348,000 in the previous year, reflecting overall performance challenges[49]. Profitability and Margins - Gross profit margin improved to 82.2% from 77.0% year-on-year[4]. - Gross profit decreased by 2.8% to RMB 525.2 million, while gross margin increased from 77.0% to 82.2%, driven by lower raw material costs and a higher sales volume of more profitable products[23]. - Basic and diluted earnings per share for the first half of 2025 were RMB 0.37, down from RMB 0.53 in the same period of 2024[49]. - Basic earnings per share for the six months ended June 30, 2025, was RMB 0.37, down from RMB 0.53 in 2024, a decline of approximately 30.19%[66]. Sales and Market Performance - Sales volume of orthopedic products increased by over 10% year-on-year, with continuous improvement in hospital penetration rates[6]. - Revenue from mainland China was RMB 613,541,000, down from RMB 671,829,000 in the previous year, indicating a decrease of about 8.66%[60]. - Major customers contributing over 10% of total revenue included Customer A with RMB 160,559,000 and Customer B with RMB 29,935,000, totaling RMB 190,494,000, down from RMB 232,946,000 in 2024, a decline of approximately 18.19%[58]. - Sales revenue from goods decreased by 3.6% to RMB 621.8 million, down from RMB 645.2 million, mainly due to a decline in revenue from bone health products[20]. - Pharmaceutical services revenue plummeted by 70.3% to RMB 17.0 million from RMB 57.2 million, attributed to a smaller production volume scheduled for the first half of the year[21]. Research and Development - The product pipeline includes multiple innovative drugs, biosimilars, and biopharmaceutical combination products in the fields of orthopedics, oncology, and hematology[7]. - Research and development costs increased to RMB 49.6 million from RMB 37.3 million, reflecting higher investments in ongoing R&D projects[27]. - Research and development expenses increased to RMB 49,627,000 in the first half of 2025, up from RMB 37,288,000 in 2024, indicating a focus on innovation[49]. - The company presented findings on GLP-1 targeted diabetes and weight loss drug development at Bio China 2025, showcasing progress in this area[9]. Product Development and Pipeline - The company has submitted the NDA for JY29-2 (Glycopyrrolate Injection) for type 2 diabetes on March 24, 2024, and expects NMPA approval[8]. - JY29-2 (Glycopyrrolate Injection) for obesity has completed patient enrollment by December 2024, continuing clinical research as per the clinical plan[9]. - The company has initiated the development of a long-acting insulin analog JY54-2, which has shown excellent pharmacological activity and safety in cell and animal models[9]. - JY47 (SIRPα monoclonal antibody) has potential for treating metabolic dysfunction-related fatty liver disease (MASH), with plans to apply for this new indication in clinical trials[9]. - JY23 (rhBMP-2) is expected to submit registration data by the first half of 2026, targeting bone repair applications[8]. - JY56 (Emicizumab) is set to submit an IND application in 2026, with a patent expiration date in November 2031[8]. - JY54 and JY54-2 are expected to submit IND applications in Q4 2025 and Q2 2026, respectively[8]. Operational Strategies - The company is focusing on stabilizing existing markets and cultivating new markets to achieve steady annual revenue growth[6]. - Adjustments in sales models from direct sales to commercial distribution were made to strengthen cash flow[5]. - The company aims to fully cover provincial medical insurance catalogs to enhance product competitiveness[6]. - The company is actively pursuing international business expansion strategies centered around core products, with plans to submit market applications in Brazil within the year[14]. - The company aims to strengthen external collaborations through licensing and joint ventures to expand its product pipeline[18]. - The company is committed to improving its marketing network and commercialization team to expand its global business footprint[18]. Human Resources and Governance - As of June 30, 2025, the company has 1,629 employees, focusing on talent development as a core driver for high-quality growth[15]. - The company has applied for three new invention patents and one PCT international patent, enhancing its intellectual property portfolio[13]. - The company's debt-to-asset ratio was 21.7% as of June 30, 2025, compared to 21.1% at the end of 2024[31]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period, and as of June 30, 2025, it holds no treasury shares[39]. - The company has adopted the corporate governance code and has complied with its principles, except for the separation of the roles of Chairman and CEO, which are held by the same individual[40][41]. - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited interim financial information and discussed issues related to internal controls and financial reporting[44]. Future Outlook - The company plans to enhance production capacity for orthopedic products and large molecules, aiming to reduce costs through increased efficiency[18]. - The company has established a commercialization team for the Glycopyrrolate biosimilar, focusing on recruitment, training, and market education activities[9]. - The company expresses gratitude to shareholders, management, employees, business partners, and customers for their support and contributions, reflecting a strong stakeholder relationship[76].

Core Viewpoint - Jiuyuan Gene (02566) saw a nearly 24% increase in stock price, attributed to the upcoming board meeting to approve mid-term performance and the potential of its biosimilar drug Semaglutide in the domestic market [1] Company Developments - Jiuyuan Gene's stock rose by 23.72% to HKD 15.28, with a trading volume of HKD 41.215 million [1] - The company plans to hold a board meeting on August 18 to approve its mid-term performance [1] - Jiuyuan Gene is focusing on the metabolic field, particularly with its potential first domestic biosimilar of Semaglutide [1] Market Strategy - The company aims to leverage its first-mover advantage in the hospital market and expand accessibility through pharmacy networks and strategic partnerships with e-commerce platforms [1] - Jiuyuan Gene has granted overseas rights for Semaglutide to other domestic pharmaceutical companies, including a unique licensing agreement with Sinovac Biotech for major Latin American countries [1] - A product licensing agreement with Fosun Pharma allows them exclusive rights for clinical development, registration, and commercialization of Semaglutide and other products in the Middle East, North Africa, sub-Saharan Africa, and parts of ASEAN countries [1] - New drug applications for Semaglutide are expected to be submitted to Brazil and Saudi Arabia by 2025 [1]

Group 1 - Jiuyuan Gene (02566) saw a nearly 24% increase in stock price, reaching HKD 15.28 with a trading volume of HKD 41.215 million [1] - The company plans to hold a board meeting on August 18 to approve its interim results, which is a significant upcoming event [1] - Jiuyuan Gene is focused on the development of the first domestic biosimilar of Semaglutide, with weight loss indications expected to be submitted for market approval in the first half of 2026 [1] Group 2 - The company aims to strengthen its market presence by enhancing its hospital market advantages and expanding accessibility through pharmacy networks and e-commerce partnerships [1] - Jiuyuan Gene has granted overseas rights for Semaglutide to other domestic pharmaceutical companies, including exclusive licensing agreements with Kexing Bio for major Latin American countries and Fosun Pharma for various regions including the Middle East and parts of Africa [1] - New drug applications for Semaglutide are expected to be submitted in Brazil and Saudi Arabia by 2025 [1]

Group 1: Market Overview - The Hang Seng Index rose by 1.88%, gaining 470 points to close at 25,439 points, while the Hang Seng Tech Index increased by 2.35% [1] - The early trading volume in the Hong Kong stock market reached HKD 143.8 billion [1] Group 2: Biotechnology Sector - The Hang Seng Biotechnology Index surged by 3.77%, driven by a collective rise in pharmaceutical stocks following the debut of the "dual directory" for drug applications [1] - Zhonghui Biotech-B (02627) saw a significant increase of 24%, while Jiuyuan Gene (02566) rose by 8.99%, and Kintor Pharmaceutical (09939) increased by 5.7% [1] - Innovent Biologics (01801) experienced a rise of 7.27%, and He Yu-B (02256) reached a new high with a 7.38% increase, reporting a 59% year-on-year growth in net profit for the first half of the year [1] Group 3: Pharmaceutical Developments - Daqi Pharmaceutical-B (06996) rose over 15% as Claudin 18.2 ADC was proposed for inclusion as a breakthrough therapy [2] Group 4: Technology Sector - Tencent's subsidiaries reported generally better-than-expected earnings, with Tencent Music-SW (01698) rising by 15%, and Reading Group (00772) also increasing by over 15% [2] - Weimeng Group (02013) saw an increase of over 7% [2] Group 5: Industrial and Manufacturing Sector - Chongqing Machinery (02722) rose by 8.9%, with an expected 50% year-on-year growth in net profit due to rapid growth in AIDC engine demand [3] - Zhongyan Hong Kong (06055) increased by over 7%, maintaining its position in the domestic cigarette export tax-free business, with earnings to be announced next Friday [3] Group 6: Technology and Electronics - Qiu Tai Technology (01478) rose by over 8%, reporting a 167% year-on-year increase in net profit for the first half of the year, leading to target price upgrades from multiple institutions [4] - Hong Teng Precision (06088) increased by over 9% post-earnings, with a cumulative rise of over 60% in the month, reporting an 11% revenue growth but a 3% decline in net profit [5] - Minmetals Resources (01208) rose by over 9% after reporting a 15-fold increase in net profit for the first half of the year and lowering cost guidance for its mines [6] Group 7: Performance Review - 361 Degrees (01361) fell by over 10% post-earnings, with institutions stating that the first half performance met expectations, but net profit growth was slightly lower than revenue growth [7]

Group 1 - Pharmaceutical stocks collectively surged, with notable increases in companies such as Deqi Pharmaceutical-B (up 13.53% to HKD 6.04), Jiuyuan Gene (up 7.89% to HKD 11.76), and others [1] - The National Healthcare Security Administration announced the preliminary review results for the 2025 National Basic Medical Insurance, Maternity Insurance, and Work Injury Insurance Drug Catalogs, revealing that 534 drugs passed the basic insurance catalog review and 121 drug generic names passed the commercial insurance innovative drug catalog review [1] - High-priced innovative drugs, including CAR-T therapies, are seeking inclusion in the commercial insurance innovative drug catalog, aiming for diversified payment methods for innovative drugs [1] Group 2 - The core breakthrough of the 2025 plan is the establishment of a "Basic Insurance + Commercial Insurance Innovative Drug" dual-track system, which aims to alleviate pressure on basic insurance funds while meeting multi-tiered demands [2] - The plan includes a new price negotiation mechanism and a team of commercial insurance experts, reflecting policy coordination for innovative drug development, although it also increases process complexity [2] - Overall, this represents a strategic shift in healthcare policy from "basic coverage" to "multi-tiered + innovative support," balancing accessibility and sustainability [2]

Group 1 - Pharmaceutical stocks collectively surged, with notable increases in shares of companies such as Deqi Pharmaceutical-B (up 13.53% to HKD 6.04), Jiuyuan Gene (up 7.89% to HKD 11.76), and others [1] - The National Healthcare Security Administration announced the preliminary review results for the 2025 National Basic Medical Insurance, Maternity Insurance, and Work Injury Insurance Drug Catalogs, revealing that 534 drugs passed the basic medical insurance review and 121 drugs passed the commercial insurance innovative drug catalog review [1] - High-priced innovative drugs, including CAR-T therapies, are seeking inclusion in the commercial insurance innovative drug catalog, aiming for diversified payment methods for innovative drugs [1] Group 2 - The core breakthrough of the 2025 plan is the establishment of a "basic medical insurance + commercial insurance innovative drug" dual-track system, which aims to alleviate pressure on basic medical insurance funds while meeting multi-tiered demands [2] - The new pricing negotiation mechanism and the establishment of a commercial insurance expert team reflect policy coordination for innovative drug development, although the complexity of the process has increased [2] - Overall, this represents a strategic shift in medical insurance from "basic coverage" to "multi-tiered + innovative support," balancing accessibility and sustainability [2]

九源基因(02566.HK)公告，董事会会议将于2025年8月18日(星期一)举行，藉以(其中包括)考虑及批准公 司及其附属公司截至2025年6月30日止6个月中期业绩及其刊发，以及考虑中期股息建议(如有)。 ...

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7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: 杭州九源基因生物醫藥股份有限公司 呈交日期: 2025年8月5日 I. 法定/註冊股本變動 FF301 | | 法定/註冊股份數目 | 面值 | | 法定/註冊股本 | | | --- | --- | --- | --- | --- | --- | | 上月底結存 | 31,000,000 | RMB | 1 | RMB | 31,000,000 | | 增加 / 減少 (-) | | 0 | | RMB | | | 本月底結存 | 31,000,000 | RMB | 1 | RMB | 31,000,000 | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02566 | 說明 | H股 | | | | | | | | | 法定/註冊 ...

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。 HANGZHOU JIUYUAN GENETIC BIOPHARMACEUTICAL CO., LTD. 杭州九源基因生物醫藥股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：2566） 董事會會議召開日期 杭州九源基因生物醫藥股份有限公司（「本公司」）董事會（「董事會」）謹 此 宣 佈， 董事會會議將於2025年8月18日（星 期 一）舉 行，藉 以（其 中 包 括）考慮及批准本公 司及其附屬公司截至2025年6月30日 止 六 個 月 之 中 期 業 績 及 其 刊 發，以 及 考 慮 中期股息建議（如 有）。 承董事會命 Hangzhou Jiuyuan Genetic Biopharmaceutical Co., Ltd. 杭州九源基因生物醫藥股份有限公司 執 行 董 事、董 事 ...

但在今年6月后，九源基因股价突然直线拉升，6月份公司股价累计涨幅达26.52%，而在7月份，截至7月21日，其单月股价累涨已达35.03%。也就是说，在 不到两个月时间，九源基因股价已拉升逾70%。虽然九源基因的月度股价涨幅喜人，但从其每日股价涨幅的走势来看，资金潜入的迹象似乎较为明显。 "旱地拔葱"后的量价背离 虽然从月度股价波动来看，九源基因在去年12月和今年1月分别下跌了16.35%和11.50%，但其实在股价触及上市新低后的第三个交易日即1月16日，九源基 因便开始了今年的第一波止跌反弹。 从技术面来看，由于九源基因挂牌上市后股价基本都处在下行区间，因此基本都紧贴BOLL线下轨运行，直到今年1月10日当天股价收跌7.12%，股价击穿 BOLL线下轨，并在次日创下公司上市股价新低，从技术面上确认股票低估，因而引发场内惜售以及持币者的集中入场。 然而这段技术性回弹仅持续了2个月时间，期间九源基因股价基本沿BOLL线上下运行，并最终在3月14日冲高击穿当日BOLL线上轨后回落，当日股价最高 7.46港元。 去年11月28日，手握号称"国产司美格鲁肽"重磅减重药的九源基因(02566)正式登陆港交所。然而其踏 ...