Group 1 - The core viewpoint of the article highlights the significant stock price increase of Haixi Pharmaceutical, which rose over 7% and is currently trading at 140.9 HKD, with a market capitalization exceeding 11 billion HKD [1] - Haixi Pharmaceutical is a commercial-stage pharmaceutical company that integrates research and development, production, and sales capabilities, with a pipeline of innovative drugs under development [1] - As of the date of the prospectus disclosure, Haixi Pharmaceutical has approved 15 generic drug products, covering multiple therapeutic areas including the digestive system, cardiovascular system, endocrine system, and nervous system [1] Group 2 - The company has established a pipeline of four innovative drugs currently under development, targeting diseases in oncology, ophthalmology, and respiratory systems [1] - The current average daily market capitalization of Haixi Pharmaceutical has reached 9.94 billion HKD, which is above the threshold required for Hong Kong Stock Connect [1]

Core Viewpoint - The article discusses the strategic market operations of Haixi New Drug (02637) over the past two months, highlighting a well-planned effort to increase market capitalization and liquidity in preparation for inclusion in the Hong Kong Stock Connect program [1][3]. Group 1: Market Operation Phases - The market operation can be divided into four distinct phases aimed at enhancing and stabilizing market capitalization to meet the Hong Kong Stock Connect inclusion criteria [3]. Phase 1: Accumulation - From October 20 to October 30, the stock price rose from 97.50, increasing by 18.63% over eight trading days, with a significant trading volume of 379.17 million and a turnover rate of 4.82% [4][5]. - The bullish trading volume accounted for 87.5%, indicating strong buying power and establishing a solid foundation for future operations [4]. Phase 2: Technical Adjustment - From October 31 to November 5, the stock experienced a technical adjustment with a price decline of 5.79% and a drastic drop in trading volume to 47.87 million, reflecting a controlled "volume reduction" strategy to clear short-term floating positions [5][6]. Phase 3: Breakthrough - From November 6 to November 12, the stock surged from 112.50 to 147.00, marking a 26.49% increase with a low turnover rate of 0.79%, indicating a high level of control by the main operators [7][8]. Phase 4: Consolidation - From November 13 to December 9, the stock price stabilized around 130.54, showing strong support with more bullish days than bearish ones, preparing for further market consensus and potential value expansion [9][10]. Group 2: Market Capitalization Strategy - Haixi New Drug has submitted an application for "full circulation" of shares, which will allow major shareholders to trade their shares in the secondary market after a 12-month lock-up period, enhancing the motivation for active market capitalization management [12]. - The company aims to exceed the core requirement of a daily average market capitalization of 93 billion HKD to qualify for the Hong Kong Stock Connect, achieving a market cap of 97.7 billion HKD as of December 10 [12][13]. - The strategy is designed to secure a "market capitalization safety cushion" by significantly increasing the market cap early in the assessment period, thus reducing the risk of falling below the required threshold [12][13].

Core Viewpoint - The article discusses the strategic market operations of Haixi New Drug (02637) over the past two months, highlighting a well-planned effort to increase market capitalization and liquidity in preparation for inclusion in the Hong Kong Stock Connect program [1][11]. Group 1: Market Operation Phases - The market operation can be divided into four distinct phases aimed at enhancing and stabilizing market capitalization to meet the Hong Kong Stock Connect inclusion criteria [3][11]. Phase 1: Accumulation - From October 20 to October 30, the stock price rose from 97.50, increasing by 18.63% over eight trading days, with a significant trading volume of 379.17 million shares and a turnover rate of 4.82% [3][4]. - The buying pressure was dominant, with 87.5% of the trading volume being positive, indicating strong accumulation by the main players [3][4]. Phase 2: Technical Adjustment - From October 31 to November 5, the stock experienced a 5.79% pullback with a drastic reduction in trading volume to 47.87 million shares and a turnover rate of only 0.61% [5][6]. - This phase was characterized by a "volume contraction" strategy to clear short-term floating positions and raise the average market holding cost [5]. Phase 3: Breakthrough - From November 6 to November 12, the stock surged from 112.50 to 147.00, marking a 26.49% increase with a low turnover rate of 0.79% and 100% of the trading volume being positive [7][8]. - This indicates a high level of control by the main players, allowing for a rapid price increase with minimal capital outlay [7]. Phase 4: Consolidation - From November 13 to December 9, the stock underwent a period of consolidation around a new price level, maintaining an average price of 130.54, with more positive trading days than negative [9][10]. - This consolidation phase is crucial for building market consensus and preparing for further market capitalization expansion [9]. Group 2: Market Capitalization Strategy - Haixi New Drug has submitted an application for "full circulation" of shares, which will allow major shareholders to sell their shares in the secondary market after a 12-month lock-up period, enhancing the motivation for active market capitalization management [12]. - The company aims to exceed the minimum daily market capitalization requirement of 9.3 billion HKD to qualify for the Hong Kong Stock Connect program, with a current average market capitalization of 9.77 billion HKD as of December 10 [12][13]. - The strategy is designed to secure a "market capitalization safety cushion" by significantly increasing market value at the beginning of the assessment period, thus reducing the risk of falling below the required threshold [12][13].

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: 福建海西新藥創制股份有限公司 呈交日期: 2025年12月2日 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 02637 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 78,707,270 | | 0 | | 78,707,270 | | 增加 / 減少 (-) | | | | | 0 | | | | 本月底結存 | | | 78,707,270 | | 0 | | 78,707,270 | 第 2 頁 共 10 頁 v 1.1.1 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 ...

Core Points - Hai Xi New Drug (02637.HK) announced the resignation of Chen Xiaolin as co-secretary of the company and various authorized representative roles effective from November 21, 2025 [1] - Lin Huiyi has been appointed as co-secretary, authorized representative, and legal process agent, also effective from November 21, 2025 [1] - Lin Huiyi will share the company secretary responsibilities with the current co-secretary Zhang Junhuan [1]

Core Viewpoint - Hai Xi New Drug (02637) announced the resignation of Ms. Chen Xiaolin from multiple positions effective November 21, 2025, and the appointment of Ms. Lin Huiyi to these roles starting the same date [1] Group 1 - Ms. Chen Xiaolin has resigned as the co-secretary of the company [1] - Ms. Chen Xiaolin has also resigned as the authorized representative under the Hong Kong Listing Rules and the Companies Ordinance [1] - Ms. Lin Huiyi has been appointed as the co-secretary and authorized representative effective November 21, 2025 [1]

Core Viewpoint - Hai Xi New Drug (02637) announced the resignation of Ms. Chen Xiaolin from multiple positions effective November 21, 2025, and the appointment of Ms. Lin Huiyi as the new co-secretary and authorized representative [1] Group 1 - Ms. Chen Xiaolin has resigned as co-secretary of the company [1] - Ms. Chen Xiaolin has also resigned as the authorized representative under the Hong Kong Listing Rules and Companies Ordinance [1] - Ms. Lin Huiyi has been appointed as the new co-secretary and authorized representative effective November 21, 2025 [1]

（股份代號：2637） 聯席公司秘書、授權代表及法律程序代理人變更 與 豁免嚴格遵守上市規則第 3.28 條及第 8.17 條 聯席公司秘書、授權代表及法律程序代理人變更 福建海西新藥創制股份有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈，陳曉 琳女士（「陳女士」）已辭任(i)本公司聯席公司秘書（「聯席公司秘書」）；(ii) 《香港聯合 交易所有限公司（「聯交所」）證券上市規則（「上市規則」）》第3.05條項下所規定的本 公司授權代表（「上市規則項下的授權代表」）；(iii)根據香港法例第622章《公司條例》 第16部項下的本公司授權代表（連同上市規則項下的授權代表稱為「授權代表」）；及 (iv)上市規則第19A.13(2)條所規定代本公司在香港接收法律程序文件及通知書的本 公司授權人士（「法律程序代理人」），自2025年11月21日起生效。 陳女士已確認，彼與董事會概無意見分歧，亦無與彼辭任有關的事宜需提請聯交所 及本公司股東垂注。 – 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份內 ...

Core Viewpoint - HaiXi New Drug (02637.HK) experienced a significant increase in stock price, rising over 10% to reach a new high of 145.9 HKD, marking an approximate 70% increase from its IPO price of 86.4 HKD [2] Summary by Category - **Stock Performance** - The stock price of HaiXi New Drug reached 145.9 HKD, representing a rise of 10.87% at the time of reporting [2] - The trading volume was reported at 16.7142 million HKD [2] - **Market Reaction** - The stock has set a new record high since its listing, indicating strong market interest and investor confidence [2]

Group 1 - HaiXi Pharmaceutical (02637) saw its stock price rise over 10%, reaching a new high of HKD 145.9, which is nearly a 70% increase from its IPO price of HKD 86.4 [1] - As of the IPO disclosure date, HaiXi Pharmaceutical has 15 approved generic drug products, covering multiple therapeutic areas including digestive, cardiovascular, endocrine, and nervous systems [1] - The four core generic drugs, namely Anbili, Ruiantuo, Haihuitong, and Saixifu, are expected to contribute over 90% of the company's revenue, projected to reach CNY 425 million in 2024 [1] Group 2 - HaiXi Pharmaceutical is also developing an innovative drug pipeline, including C019199, an immunotherapy targeting CSF-1R/DDR1/VEGFR2, currently in I/II clinical stages for indications like osteosarcoma and tenosynovial giant cell tumor, with plans to start a Phase III trial in the second half of 2025 [1] - Another drug, HXP056, is an oral treatment for wet age-related macular degeneration, expected to complete its Phase I clinical trial by the end of 2025 [1]