Core Viewpoint - Changfeng Pharmaceutical (02652.HK) has announced the adoption of the H-share incentive trust plan aimed at aligning the interests of employees, management, and shareholders, thereby attracting, retaining, and motivating key talents to drive the company's sustainable development and long-term success [1] Group 1 - The H-share incentive plan is set to be implemented on November 12, 2025 [1] - The primary goal of the plan is to ensure the alignment of interests among employees, management, and shareholders [1] - The initiative is designed to attract, retain, and motivate key talents while rewarding their contributions [1]

Core Viewpoint - Changfeng Pharmaceutical (02652.HK) has announced that its board of directors has approved a proposal to grant a general mandate for the repurchase of the company's issued H shares listed on the Hong Kong Stock Exchange, which will be presented for consideration and approval at a forthcoming special general meeting of shareholders [1] Group 1 - The board's resolution includes a proposal for a share buyback authorization [1] - The proposal will be submitted to shareholders for approval at a special general meeting [1]

CF PharmTech, Inc. 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。 長風藥業股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2652） 承董事會命 長風藥業股份有限公司 董事長、執行董事兼首席執行官 自願性公告 建議股份購回授權 本公告乃由長風藥業股份有限公司（「本公司」）自願作出。 本公司董事（「董事」）會（「董事會」）宣佈，董事會已審議並批准一項有關建議授 予董事購回本公司於香港聯合交易所有限公司（「聯交所」）主板上市的已發行H股 的一般授權（「股份購回授權」）的決議案。該建議將於本公司擬適時舉行之股東特 別大會（「股東特別大會」）上提呈予本公司股東考慮及批准。 聯交所證券上市規則規定的有關建議股份購回授權的說明函件將載於股東特別大 會通函。說明函件將載有一切合理所需資料，以使本公司股東於股東特別大會上 就投票贊成或反對有關股份購回授權的決議案作出知情決定。 梁文青博士 香港，2025年11月13日 於本公 ...

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。 CF PharmTech, Inc. 長風藥業股份有限公司 建議採納H股獎勵計劃 建議授權董事會及╱或授權人士 辦理H股獎勵計劃相關事宜 建議採納H股獎勵計劃 長風藥業股份有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈，於2025 年11月12日，其已決議建議採納本公司2025年H股獎勵信託計劃（「H股獎勵計 劃」）。 H股獎勵計劃旨在使本公司僱員、管理層及股東（「股東」）的利益趨於一致，吸 引、挽留並激勵關鍵人才，回報其貢獻，推動本公司持續發展及長遠成功。 H股獎勵計劃構成香港聯合交易所有限公司證券上市規則（「上市規則」）第17章項 下所提述之涉及本公司現有股份之計劃，且須遵守上市規則第17.12條項下之適 用披露規定。然而，H股獎勵計劃並不涉及根據上市規則第17章發行新股份或授 出本公司任何新證券之購股權。因此，根據上市規則，採納該計劃毋須經股東批 准。儘管如此，根據本公司之公司章程，H ...

FF301 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: 長風藥業股份有限公司 本月底法定/註冊股本總額： RMB 411,978,387 呈交日期: 2025年11月5日 I. 法定/註冊股本變動 備註： | 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) | 02652 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 302,223,586 | RMB | | | 1 RMB | | 302,223,586 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 302,223,586 | RMB | | | 1 ...

Core Viewpoint - Changfeng Pharmaceutical has successfully completed the first patient enrollment for its self-developed bronchial valve lung volume reduction device, marking the official start of the clinical validation phase aimed at providing a minimally invasive treatment option for patients with emphysema and chronic obstructive pulmonary disease (COPD) [1] Company Summary - Changfeng Pharmaceutical's stock rose nearly 3%, currently trading at 29.2 HKD with a transaction volume of 5.3645 million HKD [1] - The successful completion of the first patient enrollment signifies the entry of this innovative minimally invasive device into the clinical validation stage [1] Industry Summary - The device targets unmet clinical needs in the management of emphysema, which is characterized by dynamic hyperinflation and limited activity [1] - The clinical study will focus on safety monitoring during the perioperative period and multi-dimensional assessments of imaging and lung function, with key indicators including device-related safety, technical success rate, and changes in clinical outcomes such as FEV1, RV, 6MWD, and SGRQ [1] - The research data will form an auditable evidence chain for future registration strategies and commercialization decisions [1]

Core Viewpoint - Changfeng Pharmaceutical (02652) has initiated the clinical validation phase for its self-developed bronchial valve lung volume reduction device, marking a significant step towards providing a minimally invasive treatment option for patients with emphysema and chronic obstructive pulmonary disease (COPD) [1] Group 1: Company Developments - The stock price of Changfeng Pharmaceutical increased by 2.74%, reaching HKD 29.2, with a trading volume of HKD 5.3645 million [1] - The first patient enrollment (FPI) for the clinical trial has been successfully completed, officially commencing the clinical validation phase [1] - The device aims to address unmet clinical needs in long-term management and quality of life improvement for emphysema patients, who often experience dynamic hyperinflation and activity limitations [1] Group 2: Clinical Research Details - The clinical study will focus on continuous enrollment, perioperative safety monitoring, and multi-dimensional assessments of imaging and lung function [1] - Key indicators will include safety related to the device and procedure, technical success rates, and changes in critical clinical outcomes such as FEV1, RV, 6MWD, and SGRQ [1] - The research data will create an auditable evidence chain for future registration strategies and commercialization decisions [1]

Core Viewpoint - The Hong Kong pharmaceutical sector, particularly in the inhalation drug segment, is experiencing a valuation recovery driven by supportive policies and improved market liquidity, with companies like Changfeng Pharmaceutical emerging as key players in this high-barrier market [1][4]. Group 1: Industry Overview - The inhalation drug market is characterized by high technical barriers and a complex supply chain, historically dominated by international giants like GlaxoSmithKline and AstraZeneca, indicating significant room for domestic players [2][4]. - The global inhalation drug market for respiratory diseases is projected to grow from 195.6 billion RMB in 2024 to 337.2 billion RMB by 2033, with a compound annual growth rate (CAGR) of 6.2% [3][4]. Group 2: Company Profile - Changfeng Pharmaceutical focuses on the research, production, and commercialization of inhalation drugs for respiratory diseases, showcasing strong competitive advantages and the potential to benefit from domestic market opportunities [4][8]. - The company has demonstrated impressive financial growth, with revenues increasing from 349 million RMB in 2022 to 608 million RMB in 2024, reflecting a CAGR of 31.9% [5][10]. Group 3: Product and R&D Strategy - Key products include CF017, an inhalation solution for asthma, which achieved sales of 610 million RMB in 2024 with a gross margin of 85.5%, highlighting its market competitiveness [8][9]. - The company maintains a robust R&D platform, with R&D expenses consistently above 20% of revenue, indicating a strong commitment to innovation and product line expansion [9][10]. Group 4: Market Position and Valuation - Despite a high dynamic price-to-earnings ratio, the company's valuation is supported by its unique position in the inhalation drug market, strong growth potential, and established cash flow generation capabilities [13][14]. - The company is expected to launch at least five new products in the next five years, further diversifying its offerings and enhancing market competitiveness [11][14].

Group 1 - Changfeng Pharmaceutical Co., Ltd. (stock code: 02652.HK) recently listed on the Hong Kong Stock Exchange, with its stock price opening over 200% higher on the first day and achieving nearly 6700 times oversubscription, setting a record in the healthcare sector since the implementation of the new stock pricing mechanism in Hong Kong [1] - The company focuses on the research, production, and sales of drugs for respiratory diseases, covering significant clinical needs such as asthma, chronic obstructive pulmonary disease (COPD), and allergic rhinitis, thus meeting the demands of patients and medical institutions across various specialties [3] - Changfeng Pharmaceutical has received six product approvals from the National Medical Products Administration of China and the U.S. FDA, with its first approved product, CF017 (Budesonide inhalation suspension), being the best-selling inhalation drug in China, rapidly included in the national centralized procurement plan [3] Group 2 - The company’s product CF018 is the first approved nasal spray for allergic rhinitis in China, which has quickly penetrated over 500 hospitals and medical institutions after being included in the 2023 National Medical Insurance Directory [3] - The company has a pipeline of over 20 candidate products under research, targeting major markets in China, the U.S., Europe, and emerging markets in Southeast Asia and South America [3] - Yantai Financial Group has established a comprehensive financial service ecosystem to support high-potential projects, having facilitated 38 companies to enter the capital market and 41 companies into the listing counseling stage [4]

Summary of Key Points Core Viewpoint - As of October 14, a total of 75 stocks reached their 52-week highs, with notable performances from Lihua Securities Holdings (08350), Deutsche Bank Tianxia (02418), and Chuangsheng Holdings (02680) [1]. 52-Week Highs - Lihua Securities Holdings (08350) achieved a closing price of 0.325, with a peak of 0.390, marking a high rate of 34.48% - Deutsche Bank Tianxia (02418) closed at 8.120, reaching a maximum of 8.990, with a high rate of 24.86% - Chuangsheng Holdings (02680) closed at 12.100, peaking at 12.350, with a high rate of 23.50% - Other notable stocks include Century United Holdings (01959) with a high rate of 20.97% and Silicon Xin Group (08349) with 14.38% [1]. 52-Week Lows - Hengda Group Holdings (03616) recorded a closing price of 0.345, with a low of 0.300, reflecting a decline rate of -11.76% - China Technology Industry Group (08111) reached a low of 0.085, with a decline rate of -8.89% - Other significant declines include Golden Leaf International Group (08549) at -8.06% and Changfeng Pharmaceutical (02652) at -4.90% [3].