Group 1 - The core viewpoint of the article highlights the successful debut of Jinfang Pharmaceutical on the Hong Kong Stock Exchange, with a significant stock price increase of 106.5% on its first trading day, closing at HKD 42.1 per share and achieving a total market capitalization of HKD 15.03 billion [1] - Jinfang Pharmaceutical, established in 2017, focuses on the development of innovative therapies for oncology, autoimmune, and inflammatory diseases, with a pipeline that includes 8 candidate products, 5 of which are in clinical development [1] - Financial data indicates that the company's revenues for the years 2023-2024 and the first four months of 2025 were HKD 73.734 million, HKD 105 million, and HKD 82.149 million respectively, while the losses for the same periods were HKD 508 million, HKD 678 million, and HKD 66.624 million [1]

（股份代號：2595） 董事會決議日期 及 中期報告刊發日期 勁方醫藥科技（上海）股份有限公司（「本公司」）董事會（「董事會」）謹此公告，將 於2025年9月30日（星期二）（香港時間）以書面決議方式審議及批准本公司截至 2025年6月30日止六個月的中期報告及其刊發事宜，並審議中期股息派付事宜（如 有）。 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，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴 該等內容引致的任何損失承擔任何責任。 GenFleet Therapeutics (Shanghai) Inc. 勁方醫藥科技（上海）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） 香港，2025年9月19日 於本公告日期，本公司董事會包括：(i)執行董事呂強博士、蘭炯博士及張巍女 士；(ii)非執行董事朱競陽先生及陶莎女士；及(iii)獨立非執行董事盧韶華女士、 周德敏博士及李波先生。 承董事會命 勁方醫藥科技（上海）股份有限公司 董事長兼執行董事 呂強博士 ...

Core Viewpoint - Jinfang Pharmaceutical Technology (Shanghai) Co., Ltd. has successfully listed on the Hong Kong Stock Exchange, with a closing price of HKD 42.10, reflecting a significant increase of 106.47% from its opening price of HKD 44.00 [1] Group 1: Company Overview - Jinfang Pharmaceutical is a biopharmaceutical company focused on developing new treatment solutions for tumors, autoimmune diseases, and inflammatory diseases [1] - The company issued a total of 89,240,000 H shares, with 7,760,000 shares allocated for the Hong Kong public offering and 81,480,000 shares for international offering [2][3] Group 2: Financial Details - The offering price was set at HKD 20.39 per share, raising a total of HKD 1,819.60 million, with a net amount of HKD 1,669.92 million after deducting estimated listing expenses of HKD 149.69 million [2][3] - The net proceeds will be used for clinical development of core products GFH925 and GFH375, further development of other pipeline candidates, and general corporate purposes [3] Group 3: Key Investors - Key cornerstone investors include RTW Master Fund, TruMed Health Innovation Fund LP, OrbiMed Genesis Master Fund, and several asset management firms such as UBS Asset Management and 富国基金管理有限公司 [5][6][7] Group 4: Financial Performance - For the fiscal years ending December 31, 2023, and December 31, 2024, Jinfang Pharmaceutical reported revenues of RMB 73.7 million and RMB 104.7 million, respectively, with a loss of RMB 508.3 million and RMB 677.6 million for the same periods [8][9] - The company has incurred significant operating losses primarily due to research and development costs associated with clinical trials, which have exceeded the revenue generated [9][10]

Market Overview - The Hong Kong stock market showed mixed performance today, with the Hang Seng Index closing flat at 26,545.1 points and a total turnover of HKD 3,768.12 million. The Hang Seng China Enterprises Index rose by 0.17% to 9,472.35 points, while the Hang Seng Tech Index increased by 0.37% to 6,294.42 points. For the week, the Hang Seng Index gained 0.59%, the China Enterprises Index rose by 1.15%, and the Tech Index saw a 5.09% increase [1]. Blue Chip Performance - Sands China (01928) led the blue-chip stocks, rising by 6.19% to HKD 21.6, contributing 4.77 points to the Hang Seng Index. The upcoming National Day and Mid-Autumn Festival holidays have driven demand for gaming stocks, with strong expectations for the Golden Week based on nearly full hotel bookings [2][4]. - Other notable blue-chip performers included China Hongqiao (01378) up 4.67% to HKD 26.46, Galaxy Entertainment (00027) up 4.22% to HKD 42.46, while Hansoh Pharmaceutical (03692) fell by 2.62% to HKD 35, dragging the index down by 1.74 points [2]. Sector Highlights Gaming Sector - The gaming sector saw significant gains, with Melco International Development (00200) up 6.6%, Sands China (01928) up 6.19%, and Wynn Macau (01128) up 6.02%. Macau's gross gaming revenue (GGR) for August reached MOP 22.16 billion, marking a new monthly high, with a year-on-year increase of 12.2% [3][4]. Gold Sector - Gold stocks rebounded, with Shandong Gold (01787) rising by 6.13% to HKD 35.68, Lingbao Gold (03330) up 3.98% to HKD 16.46, and Zijin Mining (02899) up 2.76% to HKD 29.08. The price of spot gold has stabilized above USD 3,650 following the Federal Reserve's interest rate cuts [4]. Coal Sector - Coal stocks performed well, with Yanzhou Coal Mining (01171) up 6.51% to HKD 10.63, and China Shenhua Energy (01088) up 1.42% to HKD 38.46. Recent investigations into overproduction in Inner Mongolia are expected to curb excess supply [5][6]. Robotics Sector - The robotics sector showed mixed results, with Sanhua Intelligent Control (02050) down 6.21% while DCH Holdings (00179) rose by 5.78%. Recent rumors regarding Tesla's robot orders were denied by Elon Musk, but the Chinese government is pushing for the application of humanoid robots in various industries [7]. Notable Stock Movements - Jinfang Pharmaceutical-B (02595) debuted with a remarkable increase of 106.47% to HKD 42.1. The company focuses on developing new treatment solutions for tumors and autoimmune diseases [8]. - Hongteng Precision (06088) surged by 21.44% to HKD 5.89, benefiting from Nvidia's investment in Intel for AI infrastructure [9]. - Cloudfin Financial (00376) rose by 10.55% to HKD 6.39 after appointing a former Ant Group executive to lead its Web3 development [10]. - Weimob Group (02013) increased by 10% to HKD 2.86 following a significant share placement [11]. - Ganfeng Lithium (01772) saw a rise of 9.51% to HKD 37.3, with the company announcing full production capacity for its energy storage cells [12]. - Changfei Optical Fiber (06869) reached a new high, increasing by 8.55% to HKD 61.6, driven by interest in hollow core fiber technology [13][14].

Market Overview - The Hong Kong stock market showed mixed performance with the Hang Seng Index closing flat at 26,545.1 points and a total turnover of HKD 37.68 billion. The Hang Seng China Enterprises Index rose by 0.17% to 9,472.35 points, while the Hang Seng Tech Index increased by 0.37% to 6,294.42 points. For the week, the Hang Seng Index gained 0.59%, the China Enterprises Index rose by 1.15%, and the Tech Index increased by 5.09% [1] Blue Chip Performance - Sands China (01928) led blue-chip stocks with a rise of 6.19% to HKD 21.6, contributing 4.77 points to the Hang Seng Index. The upcoming National Day and Mid-Autumn Festival boosted demand for gaming stocks, with strong expectations for the Golden Week based on nearly full hotel bookings [2][4] - Other notable blue-chip performances included China Hongqiao (01378) up 4.67% to HKD 26.46, and Galaxy Entertainment (00027) up 4.22% to HKD 42.46 [2] Sector Highlights Gaming Sector - The gaming sector saw significant gains, with Melco International Development (00200) up 6.6% and Wynn Macau (01128) up 6.02%. Macau's gaming revenue reached MOP 22.16 billion in August, marking a 12.2% year-on-year increase [3][4] Gold Stocks - Gold stocks rebounded, with Shandong Gold (01787) rising 6.13% to HKD 35.68. The price of spot gold rose above USD 3,650 following the Federal Reserve's interest rate cut, with long-term gold investment still seen as valuable due to ongoing economic concerns [4] Coal Sector - The coal sector performed well, with Yanzhou Coal Mining (01171) up 6.51% to HKD 10.63. Recent investigations into overproduction in Inner Mongolia are expected to stabilize coal production levels [5][6] Robotics Sector - The robotics sector showed mixed results, with Sanhua Intelligent Control (02050) down 6.21% while Delta Electronics (00179) rose 5.78%. Recent news regarding Tesla's plans for humanoid robots has created volatility in this sector [6] Notable Stock Movements - Jinfang Pharmaceutical-B (02595) debuted with a remarkable increase of 106.47% to HKD 42.1, focusing on cancer and autoimmune disease treatments [7] - Hongteng Precision (06088) surged 21.44% to HKD 5.89, benefiting from Nvidia's investment in Intel for AI infrastructure [8] - Cloud Financial (00376) rose 10.55% to HKD 6.39 after appointing a former Ant Group executive to lead its Web3 development [9] - Weimob Group (02013) increased by 10% to HKD 2.86, announcing a share placement to raise approximately HKD 1.555 billion [10] - Ganfeng Lithium (01772) saw a rise of 9.51% to HKD 37.3, with full production capacity in energy storage cells and ongoing developments in solid-state batteries [11] - Yangtze Optical Fibre and Cable (06869) reached a new high, increasing by 8.55% to HKD 61.6, driven by interest in hollow-core fiber optics [12]

Group 1 - The core viewpoint of the article highlights the successful IPO of Jinfang Pharmaceutical-B (02595), with shares priced at HKD 20.39 and a total issuance of 89.24 million shares, raising approximately HKD 1.6699 billion in net proceeds [1] - As of the report, the stock price surged by 128.05%, reaching HKD 46.50, with a trading volume of HKD 651 million [1] - Jinfang Pharmaceutical focuses on developing new treatment solutions for oncology, autoimmune, and inflammatory diseases, with a product pipeline that includes eight candidate products, five of which are in clinical development [1] Group 2 - The company’s core products include GFH925, the first KRAS G12C inhibitor approved in China and the third globally, which received approval from the National Medical Products Administration for non-small cell lung cancer (NSCLC) in August 2024 [1] - GFH375 is an oral KRAS G12D inhibitor currently undergoing Phase II clinical trials in China [1] - Jinfang Pharmaceutical has entered into a licensing agreement with Verastem for three candidate products, including GFH375, granting Verastem development and commercialization rights outside Greater China [1]

Group 1 - The core point of the article is that Jinfang Pharmaceutical-B (02595.HK) has seen a significant increase in its stock price, rising nearly 120% as of the report date [1] - During the public offering phase, Jinfang Pharmaceutical-B received a subscription rate of 2,662.79 times, indicating strong investor interest [1] - In the international placement phase, the subscription rate was 39.05 times, further demonstrating robust demand for the company's shares [1]

Group 1 - The core viewpoint of the article highlights the successful listing of Jinfang Pharmaceutical-B (02595) with a share price of HKD 20.39, raising approximately HKD 1.6699 billion from the issuance of 89.24 million shares [1] - As of the report, the stock surged by 115.79%, trading at HKD 44 with a transaction volume of HKD 491 million [1] - Jinfang Pharmaceutical focuses on developing new treatment solutions for tumors, autoimmune, and inflammatory diseases, with a product pipeline that includes 8 candidate products, 5 of which are in clinical development [1] Group 2 - GFH925, one of the core products, is the first KRAS G12C inhibitor approved in China and the third globally, having received approval from the National Medical Products Administration for non-small cell lung cancer (NSCLC) in August 2024 [1] - The company is conducting a Phase II trial of GFH925 in the EU under the KORCUS study [1] - GFH375, an oral KRAS G12D inhibitor, is currently undergoing Phase II clinical trials in China, and the company has entered into a licensing agreement with Verastem for GFH375 and two other candidate products, granting Verastem development and commercialization rights outside Greater China [1]

Core Viewpoint - Jinfang Pharmaceutical-B (02595) has successfully listed, with an initial share price of HKD 20.39, raising approximately HKD 1.6699 billion, and has seen a significant increase of 115.79% to HKD 44 per share at the time of reporting [1] Company Overview - Jinfang Pharmaceutical focuses on developing new treatment solutions for oncology, autoimmune, and inflammatory diseases, with a product pipeline that includes 8 candidate products, 5 of which are in clinical development [1] - The company has two core products: GFH925 and GFH375 [1] Product Details - GFH925 is the first KRAS G12C inhibitor approved in China and the third globally, having received approval from the National Medical Products Administration for the treatment of non-small cell lung cancer (NSCLC) in August 2024 [1] - GFH375 is an oral KRAS G12D inhibitor currently undergoing Phase II clinical trials in China [1] - Jinfang Pharmaceutical has entered into a licensing agreement with Verastem for three candidate products, including GFH375, granting Verastem development and commercialization rights outside Greater China [1]

Core Viewpoint - The company, Jinfang Pharmaceutical-B (02595.HK), announced a global offering of 89.24 million H-shares at a price of HKD 20.39 per share, with a net proceeds of HKD 1.67 billion [1] Summary by Categories Offering Details - The global offering consists of 89.24 million H-shares, priced at HKD 20.39 each, resulting in net proceeds of HKD 1.67 billion [1] - The Hong Kong public offering accounts for 8.7% of the total shares offered, with a subscription rate of 2,662.79 times [1] - The international offering represents 91.3% of the total shares, with a subscription rate of 39.05 times [1] Trading Information - If the global offering becomes unconditional by September 19, 2025, trading of the H-shares is expected to commence on the Hong Kong Stock Exchange at 9:00 AM [1] - Each board lot for trading H-shares consists of 200 shares, with the stock code being 2595 [1]