截至发稿，百济神州(06160.HK)涨4.36%、药捷安康-B(02617.HK)涨3.77%、科济药业-B(02171.HK)涨 1.89%。 ...

Core Insights - On November 5, 2025, Alibaba-W (09988), SMIC (00981), and Tencent Holdings (00700) ranked as the top three companies by trading volume in the southbound trading of the Stock Connect, with trading amounts of 4.231 billion, 2.472 billion, and 2.062 billion respectively [1] - Alibaba-W (09988), SMIC (00981), and Tencent Holdings (00700) also led the trading volume in the southbound trading of the Shenzhen-Hong Kong Stock Connect, with trading amounts of 3.078 billion, 1.765 billion, and 1.420 billion respectively [1] Southbound Trading Highlights - **Top Active Companies in Southbound Trading (Hong Kong Stock Connect)** - Alibaba-W (09988): Trading amount of 4.231 billion, net buying of +0.253 billion [2] - SMIC (00981): Trading amount of 2.472 billion, net selling of -0.281 billion [2] - Tencent Holdings (00700): Trading amount of 2.062 billion, net selling of -0.283 billion [2] - Xiaomi Group-W (01810): Trading amount of 1.830 billion, net buying of +0.285 billion [2] - Huahong Semiconductor (01347): Trading amount of 1.240 billion, net buying of +7.8006 million [2] - **Top Active Companies in Southbound Trading (Shenzhen-Hong Kong Stock Connect)** - Alibaba-W (09988): Trading amount of 3.078 billion, net buying of +0.637 billion [2] - SMIC (00981): Trading amount of 1.765 billion, net selling of -0.218 billion [2] - Tencent Holdings (00700): Trading amount of 1.420 billion, net buying of +0.341 billion [2] - Huahong Semiconductor (01347): Trading amount of 1.233 billion, net selling of -0.649 billion [2] - Southern Hang Seng Technology (03033): Trading amount of 1.096 billion, net buying of +1.019 billion [2]

Group 1: Market Overview - On November 5, the Hong Kong stock market saw a net inflow of 10.373 billion HKD from northbound trading, with 3.359 billion HKD from Shanghai and 7.014 billion HKD from Shenzhen [1] - The most net bought stocks included Southern Hang Seng Technology (03033), Alibaba-W (09988), and Xiaomi Group-W (01810) [1] - The most net sold stocks were Hua Hong Semiconductor (01347), SMIC (00981), and Ganfeng Lithium (01772) [1] Group 2: Stock Performance - Alibaba-W had a net inflow of 2.53 billion HKD, with total trading volume of 4.231 billion HKD [2] - SMIC experienced a net outflow of 2.81 billion HKD, with total trading volume of 2.472 billion HKD [2] - Tencent Holdings saw a net outflow of 2.83 billion HKD, with total trading volume of 2.062 billion HKD [2] Group 3: Sector Insights - Southern Hang Seng Technology (03033) received a net inflow of 12.87 billion HKD, with analysts noting that the Hang Seng Technology Index is trading at historically low valuations, indicating potential for valuation recovery [4] - Northbound funds increased their positions in tech stocks, with Alibaba-W, Meituan-W, and Tencent receiving net inflows of 8.9 million, 1.84 million, and 585 million HKD respectively [5] - Xiaomi Group-W is expected to see a 22% year-on-year revenue growth and a 60% increase in adjusted net profit, driven by strong electric vehicle sales [5] Group 4: Corporate Developments - China Mobile (00941) had a net inflow of 2.06 billion HKD, as it announced a transfer of 0.19% of its shares to China National Petroleum Corporation to enhance strategic collaboration [6] - Northbound trading saw significant sell-offs in semiconductor stocks, with SMIC and Hua Hong Semiconductor experiencing net outflows of 4.99 billion and 6.4 billion HKD respectively [6]

Core Viewpoint - The stock of药捷安康-B (02617.HK) has seen a significant increase, with its closing price rising by 20% [1] Group 1 - The company experienced a notable surge in its stock price towards the end of trading [1]

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: 藥捷安康 (南京 )科技股份有限公司 呈交日期: 2025年11月4日 I. 法定/註冊股本變動 | 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) | 02617 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 301,666,673 | RMB | | 1 | RMB | | 301,666,673 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 301,666,673 | RMB | | 1 | RMB | | 301,666,673 | | 2. 股 ...

Major Events - Xiaoma Zhixing-W (02026) has set the share price for its offering at HKD 139 [1] - Boleton (01333) has entered into a strategic cooperation with Fujian Rixin, focusing on autonomous driving for mining transportation [1] - Zhaojin Mining (01818) has signed a strategic cooperation memorandum with Ant Group [1] - Yimai Sunshine (02522) subsidiary has signed a data co-construction cooperation agreement with Beijing Xianxing District and Beijing Computing Power [1] - Yaojie Ankang-B (02617) has reached a project cooperation agreement with Neurocrine [1] - Heng Rui Pharmaceutical (01276) plans to include HRS-5965 capsules in the priority review process [1] Financial Data - XPeng Motors-W (09868) delivered 42,013 smart electric vehicles in October, a year-on-year increase of 76%, setting a new monthly delivery record [1] - Fuwai Group (01828) reported a sales revenue of USD 1.935 billion for the first three quarters, a year-on-year increase of 37% [1] - Shenzhen Holdings (00604) recorded total contract sales of approximately CNY 9.838 billion for the first three quarters, a year-on-year increase of 24% [1] - Weigao Group (01066) reported third-quarter revenue of approximately CNY 3.26 billion, a year-on-year growth of about 2.6% [1]

Core Insights - The article discusses a collaboration agreement between the Hong Kong-listed innovative drug company,药捷安康 (02617.HK), and the NASDAQ-listed company Neurocrine to develop NLRP3 inhibitors for treating various diseases [1] Company Overview -药捷安康 was established in April 2014 and is headquartered in Nanjing. The company currently has no products on the market, with projected revenue of 0 for the first half of 2025 [1] - The company went public on the Hong Kong Stock Exchange on June 23 this year [1] - As of November 3, the total market capitalization of药捷安康 is approximately HKD 75 billion, down from a peak of nearly HKD 270 billion in September [1] Collaboration Agreement - The agreement grants Neurocrine exclusive rights to develop, manufacture, and commercialize the NLRP3 inhibitors from药捷安康's drug platform outside of Greater China [1] -药捷安康 is entitled to receive an upfront payment and potential milestone payments related to development and commercialization progress, with a total potential value of USD 881.5 million [1] Product Pipeline - The company's research and development focus includes oncology, inflammation, and cardiovascular metabolic diseases, with a pipeline consisting of six clinical-stage candidates and several preclinical candidates [1] - TT-02332 is identified as a preclinical-stage NLRP3 inhibitor developed for treating metabolic and inflammatory diseases [2]

Core Viewpoint - The stock of药捷安康-B (02617) opened over 6% higher following the announcement of a collaboration agreement with Neurocrine Biosciences to develop NLRP3 inhibitors for various diseases, indicating positive market sentiment towards the partnership [1] Group 1: Partnership Details - On November 3,药捷安康-B announced a licensing and research collaboration agreement with Neurocrine Biosciences, Inc. to develop NLRP3 inhibitors [1] - Neurocrine has been granted exclusive rights to develop, manufacture, and commercialize the NLRP3 drug platform outside Greater China, while the company retains rights within Greater China [1] - The agreement has a total potential value of $881.5 million, including upfront payments and milestone payments related to development and commercialization progress [1] Group 2: Market Reaction - Following the announcement, the stock price of药捷安康-B rose by 6.58%, reaching HKD 195.9, with a trading volume of HKD 6.5627 million [1]

Group 1 - The stock of药捷安康-B (02617.HK) opened over 6% higher and is currently up 6.58%, trading at 195.9 HKD [1] - The trading volume reached 6.5627 million HKD [1]

Core Viewpoint - The announcement of a collaboration agreement between Neurocrine Biosciences and the company for the development of NLRP3 inhibitors has positively impacted the stock price, leading to a significant increase in share value [1] Group 1: Agreement Details - On November 3, the company announced a collaboration agreement with Neurocrine Biosciences for the development of NLRP3 inhibitors aimed at treating various diseases [1] - Neurocrine has been granted exclusive rights to develop, manufacture, and commercialize the NLRP3 drug platform outside of Greater China, while the company retains these rights within Greater China (Mainland, Hong Kong, Taiwan, Macau) [1] - The agreement has a total potential value of $881.5 million, which includes upfront payments and milestone payments related to development and commercialization progress [1] Group 2: Financial Impact - Following the announcement, the company's stock opened over 6% higher and was trading at HKD 195.9, reflecting a 6.58% increase with a trading volume of HKD 6.5627 million [1] - The potential financial benefits from the agreement could significantly enhance the company's revenue streams through milestone payments as development progresses [1]