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 賴該等內容而引致的任何損失承擔任何責任。 TransThera Sciences (Nanjing), Inc. 藥捷安康（南京）科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2617） 自願性公告 替恩戈替尼片獲國家藥品監督管理局批准納入優先審評品種名單 本公告由藥捷安康（南京）科技股份有限公司（「本公司」，連同其附屬公司統稱「本 集團」）自願刊發，以向本公司股東及潛在投資者提供有關本集團的最新業務。 上市規則第18A.08(3)條規定的警示聲明：無法保證本公司將能最終成功開發及銷 售相關產品。 承董事會命 藥捷安康（南京）科技股份有限公司 董事長兼首席執行官 吳永謙博士 香港，2025年12月3日 於本公告日期，董事會包括：(i)執行董事吳永謙博士及吳笛先生；(ii)非執行董事 賈中新女士及易華博士；及(iii)獨立非執行董事李書湃先生、徐海音女士及鄭哲 蘭女士。 本公司董事會（「董事會」）欣然宣佈，替恩戈替尼片 ...

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11月30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12月2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 ...

【#南向游资套利手段曝光#："炒小、炒新、炒妖"，借纳入港股通安全撤退】随着南向资金累计净买入 规模突破5万亿港元，其在港股市场的定价权正持续提升。Wind数据显示，三季度港股通成交额占比已 达23.6%，持仓总市值突破6.3万亿港元。这标志着内地资金已成为港股市场流动性的重要驱动力。 然而，在市场结构深刻变革的背后，新的风险因素正在积聚。业内观察发现，部分内地游资正通过系统 化的资本运作，利用港股通机制进行跨市场套利。招商证券（香港）分析师宁铂表示，2025年以来，游 资已形成"选中标的—暴力拉升—助推入通—被动资金接盘—成功出货"的完整运作链条。 来源：第一财经 以药捷安康-B（02617.HK）为例，该股在纳入港股通前股价涨幅超136%，纳入后单日涨幅一度达 115.58%，但随后出现单日暴跌53.73%的极端行情。类似的剧烈波动，在多只新纳入港股通的医药股中 同样显现。这些标的普遍具有流通盘小、上市时间短、概念热门等特点，更容易成为资金炒作的对象。 ...

Group 1: Core Insights - The cumulative net buying scale of southbound funds has surpassed 50 billion HKD, indicating an increasing pricing power in the Hong Kong stock market [2][3] - Southbound funds accounted for 23.6% of the total trading volume in the Hong Kong stock market by the third quarter of 2025, with total holdings exceeding 6.3 trillion HKD, marking a significant increase of over 90% year-on-year [3] Group 2: Market Dynamics - The influx of mainland funds has become a crucial driver of liquidity in the Hong Kong stock market, with net inflows for the year exceeding 1.37 trillion HKD as of November 24, 2025 [3] - The trading style of individual investors in mainland China, characterized by short holding periods and high sensitivity to market sentiment, raises concerns about potential impacts on the Hong Kong market [6] Group 3: Investment Strategies - Mainland speculators have developed a systematic approach to capital operations, utilizing the Hong Kong Stock Connect mechanism for cross-market arbitrage, forming a complete operational chain [9][10] - The example of Yaojie Ankang-B (02617.HK) illustrates this strategy, where the stock price surged over 136% before being included in the Stock Connect, followed by extreme volatility [10][14] Group 4: Market Characteristics - New stocks entering the Hong Kong market, particularly in the pharmaceutical sector, often exhibit small float sizes and high volatility, making them attractive targets for speculative trading [14] - The correlation between the Hang Seng Index and the CSI 300 has strengthened, indicating increased market interdependence and rising volatility in the Hong Kong market [8]

随着南向资金累计净买入规模突破5万亿港元，其在港股市场的定价权正持续提升。Wind数据显示，三 季度港股通成交额占比已达23.6%，持仓总市值突破6.3万亿港元。这标志着内地资金已成为港股市场流 动性的重要驱动力。 然而，在市场结构深刻变革的背后，新的风险因素正在积聚。业内观察发现，部分内地游资正通过系统 化的资本运作，利用港股通机制进行跨市场套利。招商证券（香港）分析师宁铂表示，2025年以来，游 资已形成"选中标的—暴力拉升—助推入通—被动资金接盘—成功出货"的完整运作链条。 Wind数据显示，南向资金累计净买入港股规模在11月10日突破5万亿港元之后，仍在持续增长。24日， 南向资金通过港股通净流入港股市场85.71亿港元，使得年内净买入额突破1.37万亿港元。 拉长时间线看，"北水"南下已成为推升港股流动性的核心力量之一。Wind数据显示，港股通南向资金 占市场总成交额的比例呈现稳步上升态势，从2024年初的15.6%攀升至2025年三季度的23.6%，显示出 内地资金在港股市场定价权的提升。从持仓规模看，截至三季度末，港交所数据显示，港股通持仓总市 值突破6.3万亿港元，同比大幅增长超90%，约占香 ...

Core Insights - The China Securities Regulatory Commission (CSRC) has released a report on the status of domestic companies' overseas securities issuance and listing applications as of November 21, 2025, indicating ongoing interest in Hong Kong IPOs and full circulation of shares [1][2] Group 1: Companies Seeking Hong Kong IPOs - Dermavon Holdings Limited (德镁医药) is in the process of indirect overseas listing, with its application currently under review for supplementary materials [1][2] - Guangzhou Haote Energy Conservation Technology Co., Ltd. and Zhejiang Shimai Pharmaceutical Co., Ltd. are both pursuing direct overseas listings on the Hong Kong Stock Exchange [1][2] - Shenzhen Mindray Bio-Medical Electronics Co., Ltd. and Chengdu Canopus Robotics Technology Co., Ltd. are also applying for direct overseas listings [1][2] - Beijing Defeng New Journey Technology Co., Ltd. is seeking a direct overseas listing on the Hong Kong Stock Exchange [1][2] Group 2: Companies with Full Circulation Applications - Companies such as Youbao Online Technology Co., Ltd. and Yaojie Ankang (Nanjing) Technology Co., Ltd. have submitted applications for full circulation of shares, which have been received by the CSRC [1][2] - Other companies including Bama Tea Co., Ltd. and Shanghai Yingtai Medical Devices Co., Ltd. are also in the process of obtaining full circulation status [1][2] - Lianlian Digital Technology Co., Ltd. and Xuan Bamboo Biotechnology Co., Ltd. are among those seeking full circulation of shares on the Hong Kong Stock Exchange [1][2]

Core Insights - The China Securities Regulatory Commission (CSRC) has released a report on the status of domestic companies' overseas securities issuance and listing applications as of November 21, 2025, indicating ongoing activity in the Hong Kong IPO market [1] Group 1: Companies Seeking IPOs - Dermavon Holdings Limited (德镁医药有限公司) is in the process of indirect overseas listing with materials submitted to the Hong Kong Stock Exchange [3] - Haote Energy Conservation Technology Co., Ltd. (豪特节能) and Zhejiang Shimai Pharmaceutical Co., Ltd. (时迈药业) are both pursuing direct overseas listings on the Hong Kong Stock Exchange [3] - Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (迈瑞生物) is also seeking a direct overseas listing, with multiple financial institutions involved in the underwriting process [3] - Chengdu Canopus Robotics Technology Co., Ltd. (卡诺普机器人) and Beijing Defeng New Journey Technology Co., Ltd. (德风科技) are similarly applying for direct listings on the Hong Kong Stock Exchange [3] Group 2: Companies with Full Circulation Applications - Companies such as Youbao Online Technology Co., Ltd. (友宝在线), Yaojie Ankang (药捷安康), and Bama Tea Co., Ltd. (八马茶业) have submitted applications for full circulation of their shares, indicating a shift towards increased liquidity in the market [3] - Other companies like Shanghai Yingtai Medical Devices Co., Ltd. (瑛泰医疗) and Lianlian Digital Technology Co., Ltd. (连连数字) are also part of this trend, with applications received by the CSRC [3]

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]