Core Insights - Southbound funds increased their holdings in Baize Medical (02609.HK) by 800.16 million shares on September 19, 2025, marking a significant increase in investment interest [1] - Over the past five trading days, Baize Medical has seen a cumulative net increase of 61.66 million shares held by southbound funds, indicating strong demand [1] - As of now, southbound funds hold a total of 64.40 million shares of Baize Medical, representing 4.88% of the company's total issued ordinary shares [1] Trading Data Summary - On September 19, 2025, total shares held reached 64.40 million, with a change of 800.16 million shares, reflecting a 14.19% increase [2] - On September 18, 2025, total shares held were 56.40 million, with a change of 20.24 million shares, showing a 55.96% increase [2] - On September 17, 2025, total shares held were 36.16 million, with a change of 16.90 million shares, indicating an 87.75% increase [2] - On September 16, 2025, total shares held were 19.26 million, with a change of 16.29 million shares, representing a 547.44% increase [2] - On September 15, 2025, total shares held were 2.97 million, with a change of 0.24 million shares, reflecting an 8.66% increase [2] Company Overview - Baize Medical Group primarily engages in investment and provision of medical-related services, focusing on oncology care [2] - The company offers comprehensive oncology services, including screening, diagnosis, treatment, and rehabilitation [2] - Baize Medical's operations include hospital services, hospital management, supply of pharmaceuticals, medical devices, and consumables, as well as other health management services [2] - The company primarily operates in the Chinese market, providing services such as cancer diagnosis, treatment, rehabilitation, and end-of-life care [2]

Bayzed Health Group Inc 佰澤醫療集團 (Incorporated under the laws of the Cayman Islands with limited liability) （根據開曼群島法律註冊成立的有限公司） （Stock Code 股份代號：2609） 19 September 2025 Arrangement of Electronic Dissemination of Corporate Communications Pursuant to the amended Rules Governing The Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") effective from 31 December 2023, the Company has adopted new arrangement to disseminate corporate communications ("Corporate Communications") elec ...

登記股東之名稱及地址 Bayzed Health Group Inc 佰澤醫療集團 （根據開曼群島法律註冊成立的有限公司） (股份代號: 2609) 佰澤醫療集團 （根據開曼群島法律註冊成立的有限公司） (股份代號 : 2609) 2025 年 9 月 19 日 尊敬的股東 發佈公司通訊之新安排 簡介 根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」）新規則第 2.07A 條 1 以及佰澤醫療 集團（「本公司」）的組織章程大綱及組織章程細則，本公司將以電子通訊方式向其股東 3 發佈本公司日後的公 司通訊（「公司通訊 2」），並僅應股東要求向其寄發印刷本形式的公司通訊。 就此而言，以下安排經已生效。 安排 1. 可供採取行動的公司通訊 4 本公司將以電子通訊方式（通過電子郵件）向股東個別地發送可供採取行動的公司通訊。如果本公司沒有獲 取股東的電子郵箱地址或其提供的電子郵箱地址無效 5，本公司將以印刷本形式向其發送可供採取行動的公 司通訊，連同一份索取股東有效電子郵箱地址的表格，以便將來以電子通訊方式發送可供採取行動的公司通 訊。 - 1 - 2. 公司通訊 本公司將在本公司網站(www.bay ...

Group 1 - Recent trading of Hong Kong stocks related to the "Inbound Concept" has seen significant declines, with Baize Medical (02609) down 19.16% to HKD 9.45, Brain Dynamics (06681) down 18.32% to HKD 8.56, and Yaojie Ankang-B (02617) down 12.62% to HKD 182.8 [1] - Yaojie Ankang announced in August that it would be included in several Hang Seng Index series components, effective from September 8, which includes nine indices such as the Hang Seng Composite Index and the Hang Seng Healthcare Index [1] - The inclusion of Yaojie Ankang in multiple indices has led to passive buying by ETFs tracking these indices, resulting in significant trading activity [1] Group 2 - On September 15, the Guozheng Hong Kong Stock Connect Innovative Drug Index underwent a quarterly adjustment, incorporating Yaojie Ankang as a constituent stock [1] - The largest Hong Kong Stock Connect Innovative Drug ETF purchased 3 million shares of Yaojie Ankang on September 15, amounting to approximately HKD 578 million, which represents about 2.62% of the fund's net asset value [1]

Group 1 - The core viewpoint of the article highlights the recent decline in the stock prices of companies related to the "Hong Kong Stock Connect" concept, particularly Baize Medical, Brainstorm Aurora, and PharmaJet, which saw significant drops of 19.16%, 18.32%, and 12.62% respectively [1] - PharmaJet was recently included in multiple Hang Seng Index series components, effective from September 8, which has led to passive buying by ETFs tracking these indices [1] - The stock price volatility of PharmaJet has affected related ETF products, prompting urgent communication between fund companies and index providers [1] Group 2 - On September 15, the Guozhen Hong Kong Stock Connect Innovative Drug Index underwent a quarterly adjustment, with PharmaJet being added as a constituent stock [1] - The largest Hong Kong Stock Connect Innovative Drug ETF purchased 3 million shares of PharmaJet on September 15, amounting to approximately 578 million HKD, which represents about 2.62% of the fund's net asset value [1]

Group 1 - Baize Medical has received net purchases from southbound funds for three consecutive days, with a cumulative net purchase amount of 517 million HKD and a stock price increase of 71.91% [2] - On September 17, the total trading volume of active stocks through the Hong Kong Stock Connect reached 61.702 billion HKD, with a net purchase amount of 7.694 billion HKD [2] - Among the active stocks on September 17, Baize Medical had a trading volume of 2.415 billion HKD through the Hong Kong Stock Connect, with a net purchase amount of 78 million HKD [2]

Group 1 - The Hang Seng Index rose by 1.78% on September 17, with a total southbound trading volume of HKD 178.81 billion, including HKD 94.40 billion net inflow [1] - The southbound trading through Stock Connect (Shenzhen) had a total trading volume of HKD 67.50 billion, with a net inflow of HKD 72.85 billion, while the Shanghai Stock Connect recorded a total trading volume of HKD 111.31 billion and a net inflow of HKD 21.56 billion [1] - Alibaba-W was the most actively traded stock with a total trading volume of HKD 152.17 billion and a net inflow of HKD 50.51 billion, closing up by 5.28% [1][2] Group 2 - Three stocks, including Alibaba-W, Meituan-W, and Baize Medical, have seen continuous net inflows for more than three days, with Alibaba-W leading at a total net inflow of HKD 548.91 billion over 19 days [2] - Xiaomi Group-W recorded the highest net outflow of HKD 6.39 billion, despite its stock price increasing by 2.48% [1][2] - The trading data for September 17 shows that among the active stocks, Meituan-W had a total trading volume of HKD 79.07 billion and a net inflow of HKD 21.00 billion, while Changfei Optical Fiber Cable had a net inflow of HKD 10.21 billion [2]

Core Insights - On September 17, 2025, Alibaba-W (09988), SMIC (00981), and Meituan-W (03690) were the top three companies by trading volume in the southbound trading of the Stock Connect, with transaction amounts of 88.06 billion, 58.89 billion, and 51.92 billion respectively [1] - Alibaba-W (09988), SMIC (00981), and Meituan-W (03690) also led in the Shenzhen-Hong Kong Stock Connect southbound trading, with transaction amounts of 64.11 billion, 36.49 billion, and 27.15 billion respectively [1] Southbound Trading Highlights - The top three active companies in the southbound trading of the Shanghai-Hong Kong Stock Connect were: - Alibaba-W (09988): 88.06 billion with a net inflow of 21.56 billion - SMIC (00981): 58.89 billion with a net inflow of 1.42 billion - Meituan-W (03690): 51.92 billion with a net inflow of 11.79 billion [2] - Other notable companies included: - Xiaomi Group-W (01810): 32.59 billion with a net outflow of 10.57 billion - Tencent Holdings (00700): 31.36 billion with a net outflow of 3.24 billion [2] Shenzhen-Hong Kong Trading Highlights - The top three active companies in the southbound trading of the Shenzhen-Hong Kong Stock Connect were: - Alibaba-W (09988): 64.11 billion with a net inflow of 28.95 billion - SMIC (00981): 36.49 billion with a net inflow of 2.65 billion - Meituan-W (03690): 27.15 billion with a net inflow of 9.21 billion [2] - Other notable companies included: - Tencent Holdings (00700): 25.39 billion with a net inflow of 3.17 billion - Xiaomi Group-W (01810): 23.75 billion with a net inflow of 4.18 billion [2]

Core Viewpoint - The sudden surge in the stock price of Baize Medical (02609.HK) is attributed to its inclusion in the Hong Kong Stock Connect program, which has significantly increased its liquidity and market attention, despite the company's underwhelming financial performance [2][4][5]. Group 1: Stock Performance - On September 16, Baize Medical's stock price soared over 90% at one point, closing up 28.03% at HKD 13.11 per share, with a market capitalization of approximately HKD 17.29 billion [2]. - The stock has seen a nearly 100% increase over two days, with trading volume reaching nearly HKD 8 billion and a high turnover rate [4]. - The stock's recent performance is part of a broader trend, as other newly listed medical stocks like Yaojie Ankang-B (02617.HK) and Mirxes-B (02629.HK) have also experienced significant price increases [6]. Group 2: Company Background - Baize Medical is a leading domestic oncology specialty medical service provider, offering comprehensive cancer care services, including screening, diagnosis, treatment, and rehabilitation, with operations in five provinces [4]. - The company went public on the Hong Kong Stock Exchange in June 2023, but its stock performance was initially lackluster before the recent surge [4]. Group 3: Financial Performance - For the years 2022 to 2024, Baize Medical's projected revenues are RMB 803 million, RMB 1.072 billion, and RMB 1.189 billion, respectively, while it is expected to incur losses of RMB 75.515 million, RMB 24.406 million, and RMB 3.557 million during the same period [5]. - In the first half of this year, the company reported revenue of RMB 575 million, a slight increase of 0.66% year-on-year, but the loss for the period was RMB 20.262 million, significantly widening compared to the previous year [6]. - As of June 30, 2025, Baize Medical's goodwill reached RMB 643 million, primarily due to acquisitions, which poses a risk of impairment affecting its financial health [6].

Core Insights - On September 16, 2025, Alibaba-W (09988), Brainstorm Aurora-B (06681), and Baize Medical (02609) were the top three stocks by trading volume in the Southbound Stock Connect, with trading amounts of 57.96 billion, 55.71 billion, and 48.83 billion respectively [1] - In the Shenzhen-Hong Kong Stock Connect, Alibaba-W (09988), Xiaomi Group-W (01810), and PharmaJet-B (02617) led the trading volume, with amounts of 31.74 billion, 18.85 billion, and 18.82 billion respectively [1] Southbound Stock Connect - Top Active Companies - Alibaba-W (09988) had a trading amount of 57.96 billion with a net buying amount of +18.98 billion [2] - Brainstorm Aurora-B (06681) recorded a trading amount of 55.71 billion with a net buying amount of +98.28 million [2] - Baize Medical (02609) achieved a trading amount of 48.83 billion with a net buying amount of +2.17 billion [2] - Meituan-W (03690) had a trading amount of 32.61 billion with a net buying amount of +2.65 billion [2] - The Yingfu Fund (02800) had a trading amount of 31.85 billion with a net selling amount of -31.70 billion [2] Shenzhen-Hong Kong Stock Connect - Top Active Companies - Alibaba-W (09988) had a trading amount of 31.74 billion with a net buying amount of +11.33 billion [2] - Xiaomi Group-W (01810) recorded a trading amount of 18.85 billion with a net selling amount of -3.48 billion [2] - PharmaJet-B (02617) achieved a trading amount of 18.82 billion with a net selling amount of -4.50 billion [2] - Brainstorm Aurora-B (06681) had a trading amount of 18.22 billion with a net buying amount of +26.73 million [2] - Meituan-W (03690) had a trading amount of 18.15 billion with a net buying amount of +4.51 billion [2]