Core Viewpoint - The announcement highlights the initiation of the global multicenter Phase II clinical trial for CS2009, a novel tri-specific antibody targeting PD-1, VEGFA, and CTLA-4, with the first patient enrolled in Australia [1] Group 1: Clinical Trial Progress - The Phase II clinical trial for CS2009 is actively enrolling patients in Australia and China, with plans to expand to the United States in the future [1] - The first patient has been enrolled in Australia, marking a significant milestone in the trial's progress [1] Group 2: Product Overview - CS2009 is a tri-specific antibody developed independently by the company, designed to target PD-1, VEGFA, and CTLA-4, aiming to achieve multi-dimensional anti-tumor effects [1] - The antibody has the potential to be a first-in-class or best-in-class treatment due to its differentiated molecular design [1] Group 3: Mechanism and Indications - CS2009 is capable of reactivating exhausted tumor-infiltrating T cells and has neutralizing capabilities against VEGF comparable to existing anti-VEGF antibodies [1] - The product has a broad disease coverage, including but not limited to non-small cell lung cancer, small cell lung cancer, liver cancer, gastric cancer, ovarian cancer, cervical cancer, breast cancer, colorectal cancer, and esophageal cancer [1]

Core Viewpoint - The announcement highlights the completion of the first patient enrollment in the global multi-center Phase II clinical trial of CS2009, a novel tri-specific antibody targeting PD-1, VEGFA, and CTLA-4, by the company [1] Group 1: Clinical Trial Progress - The Phase II clinical trial for CS2009 has commenced in Australia and China, with plans to expand to the United States in the future [1] - The first patient has been enrolled in Australia, indicating progress in the trial [1] Group 2: Product Overview - CS2009 is a tri-specific antibody developed independently by the company, designed to target PD-1, VEGFA, and CTLA-4, showcasing potential as a first-in-class or best-in-class therapy [1] - The antibody aims to achieve multi-dimensional anti-tumor effects through its synergistic action [1] - CS2009 features a differentiated molecular design that combines three clinically validated targets, capable of reactivating exhausted tumor-infiltrating T cells [1] - The product demonstrates neutralizing capability against VEGF comparable to existing anti-VEGF antibodies [1] Group 3: Disease Coverage - The therapeutic scope of CS2009 is extensive, covering various cancers including but not limited to non-small cell lung cancer, small cell lung cancer, liver cancer, gastric cancer, ovarian cancer, cervical cancer, breast cancer, colorectal cancer, and esophageal cancer [1]

Core Viewpoint - The announcement highlights the completion of the first patient enrollment in the global multi-center Phase II clinical trial of CS2009, a novel tri-specific antibody targeting PD-1, VEGFA, and CTLA-4, by the company [1] Group 1: Clinical Trial Progress - The Phase II clinical trial of CS2009 is actively enrolling patients in Australia and China, with plans to expand to the United States in the future [1] - The first patient has been enrolled in Australia, marking a significant milestone in the trial [1] Group 2: Product Overview - CS2009 is a tri-specific antibody developed independently by the company, designed to target PD-1, VEGFA, and CTLA-4, aiming to achieve multi-dimensional anti-tumor effects [1] - The antibody has the potential to be a first-in-class or best-in-class treatment due to its differentiated molecular design [1] Group 3: Mechanism and Disease Coverage - CS2009 can reactivate exhausted tumor-infiltrating T cells and has neutralizing capabilities comparable to existing anti-VEGF antibodies [1] - The product has a broad disease coverage, including but not limited to non-small cell lung cancer, small cell lung cancer, liver cancer, gastric cancer, ovarian cancer, cervical cancer, breast cancer, colorectal cancer, and esophageal cancer [1]

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。 本公告所作出的前瞻性陳述僅與本文作出該陳述當日的事件或資料有關。除法律規定外，於作出前 瞻性陳述當日之後，無論是否出現新資料、未來事件或其他情況，我們並無責任更新或公開修改任 何前瞻性陳述及預料之外的事件。請細閱本公告，並理解我們的實際未來業績或表現可能與預期有 重大差異。本公告中有關我們或任何董事及╱或本公司的意向的陳述或提述乃於本公告刊發日期作 出。任何該等意向均可能因未來發展而出現變動。 ( 於開曼群島註冊成立的有限公司 ) (股份代號：2616) 自願 公告 基石 藥業 C S 2 0 0 9（P D - 1 / V E G F / C T L A - 4三特 異性抗體 ） I I期臨床試 驗於澳大利 亞 完成 首例患者 入組 CStonePharmaceuticals 本公告乃由基石藥業(「本公司」連同其附屬公司統稱(「本集團」或「基石藥業」)自願作出， 以使本公司股東及潛在投資者瞭解本集團的 ...

基石药业-B(02616)发布公告，Kenneth Howard Jarrett先生已获委任为公司独立非执行董事以及审核委员 会及战略委员会成员，自2025年9月23日起生效。 ...

CStone Pharmaceuticals 基石藥業 （於開曼群島註冊成立的有限公司） （股份代號：2616） 董事名單及其角色與職能 非執行董事 李偉博士 （主席） Kenneth Walton Hitchner III先生 胡正國先生 獨立非執行董事 胡定旭先生 何曄女士 Kenneth Howard Jarrett先生 董事會下轄五個董事會委員會。下表列示本公司各董事所在該等委員會的成員資 料。 | | 審核 | 薪酬 | 提名 | 戰略 | 投資 | | --- | --- | --- | --- | --- | --- | | | 委員會 | 委員會 | 委員會 | 委員會 | 委員會 | | 楊建新博士 | | | | C | | | 李偉博士 | | M | C | | | | Kenneth Walton | | | | | | | Hitchner III先生 | | | | | M | | 胡正國先生 | | | | M | C | | 胡定旭先生 | M | C | M | | | | 何曄女士 | C | M | M | M | M | | Kenneth Howard Jarret ...

格隆汇9月23日丨基石药业-B(02616.HK)发布公告，Kenneth HowardJarrett已获委任为公司独立非执行董 事以及审核委员会及战略委员会成员，自2025年9月23日起生效。 ...

智通财经APP讯，基石药业-B(02616)发布公告，Kenneth Howard Jarrett先生已获委任为公司独立非执行 董事以及审核委员会及战略委员会成员，自2025年9月23日起生效。 ...

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。 CStone Pharmaceuticals 基石藥業 1 （於開曼群島註冊成立的有限公司） （股份代號：2616） 委任獨立非執行董事 基石藥業（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈，Kenneth Howard Jarrett先生（「Jarrett先生」）已獲委任為本公司獨立非執行董事以及審核委員會及 戰略委員會成員，自2025年9月23日起生效。 Jarrett先生的履歷詳情載列如下： Jarrett先生，72歲，在政府及業務關係、戰略規劃以及建立重要關係方面擁有逾 40年經驗。Jarrett先生自2019年1月起於Albright Stonebridge Group（一家總部位 於美國（「美國」）華盛頓特區的戰略諮詢公司）擔任高級顧問。加入本公司前，自 2019年10月至2021年1月，Jarrett先生於Wanda Sports Group Company Limited （一 ...

Investment Rating - The report maintains a "Recommended" investment rating for the pharmaceutical industry as of September 15, 2025 [1] Core Insights - The trend of Chinese innovative drugs going overseas continues, with a focus on selective opportunities. The report highlights that the global pharmaceutical transaction volume reached 456 deals in the first half of 2025, a 32% year-on-year increase, with upfront payments totaling $11.8 billion, a 136% surge, and total transaction value hitting $130.4 billion, up 58% year-on-year [2] - The report emphasizes the promising clinical data from Chinese innovative drugs presented at the World Lung Cancer Conference, particularly in the ADC (Antibody-Drug Conjugate) field, showcasing significant efficacy advantages [3] - The report discusses the potential of small nucleic acid drugs and innovative delivery systems, indicating new market opportunities arising from strategic collaborations between Chinese companies and multinational corporations [4] - The CXO (Contract Research Organization) sector is expected to gradually recover, with a notable increase in orders anticipated in the third quarter of 2025, driven by improved innovation environments and funding from license-out transactions [5] - The 2025 medical insurance negotiation and commercial insurance innovative drug directory work has commenced, with a focus on orphan drugs and breakthrough treatment varieties [6] Summary by Sections 1. Pharmaceutical Market Tracking - The pharmaceutical industry underperformed the CSI 300 index by 1.75% in the past week, with a recent one-month increase of 3.32%, lagging behind the CSI 300 by 5.81% [22][26] - The medical device sector showed the highest weekly increase of 2.23%, while the chemical pharmaceutical sector experienced a decline of 2.57% [31] 2. Pharmaceutical Sector Trends and Valuation - The pharmaceutical industry index's current PE (TTM) stands at 40.60, above the five-year historical average of 31.60 [46] - The report notes that the pharmaceutical sector has shown a 15.06% increase over the past three months, outperforming the CSI 300 by 16.11% [43] 3. Recent Research Achievements - The report outlines recent research achievements by the Huaxin pharmaceutical team, including various in-depth and commentary reports on innovative drug developments and market trends [50] 4. Recent Industry Policies and News - The report details recent policy updates from the National Healthcare Security Administration regarding the 2025 drug directory adjustments and the approval of new drug applications [52][55]