Core Viewpoint - The company has received a notification from the China Securities Regulatory Commission (CSRC) regarding the registration of the "full circulation" of its unlisted shares, indicating progress towards H-share full circulation [1] Group 1: Company Actions - The company has completed the registration with the CSRC for the full circulation of 183 million unlisted shares held by certain shareholders [1] - The company must complete the H-share full circulation conversion and listing within 12 months from the date of the notification, or it will need to update the registration materials with the CSRC [1]

Core Viewpoint - The company has received approval from the China Securities Regulatory Commission for the conversion of approximately 182.6 million unlisted shares into H-shares for full circulation, which is a significant step towards enhancing its market presence and liquidity [1] Group 1: Regulatory Approval - The company has completed the filing for the conversion of about 182.6 million unlisted shares into H-shares for full circulation [1] - If the conversion and listing are not completed within 12 months from the issuance date, the company will need to update its filing materials with the China Securities Regulatory Commission to continue the process [1] Group 2: Strategic Development - The company showcased its "Globalization 2.0" strategy at the JPM 2026 conference, outlining its future innovation pipeline and development plans [1] - Over the next five years, the company anticipates more than 40 new clinical research applications to be approved [1] - By 2030, the company expects to have over 20 products launched globally, with 15 of them likely to enter the European and American markets [1] Group 3: Product Pipeline and Market Focus - The company plans to commercialize more Antibody-Drug Conjugates (ADCs), bispecific antibodies, and T-cell engagers (TCEs) across four major therapeutic areas: oncology, autoimmune diseases, metabolism, and central nervous system disorders [1] - With the enhancement of its global commercialization capabilities, the company is poised for further growth in overseas revenue, solidifying its foundation as an international biopharmaceutical company [1] Group 4: Market Performance - As of January 16, the company's stock has increased by 19.63% since the beginning of the year and has seen a 194.18% increase over the past 250 days [1] - The total market capitalization of the company stands at 37.1 billion Hong Kong dollars [1]

Core Viewpoint - The company has received approval from the China Securities Regulatory Commission for the full circulation of approximately 182.6 million unlisted shares, allowing them to convert to H-shares and be listed [1] Group 1: Regulatory Approval - The company has completed the filing for the conversion of about 182.6 million unlisted shares into H-shares for full circulation [1] - If the conversion and listing are not completed within 12 months from the date of issuance, the company will need to update its filing materials with the China Securities Regulatory Commission to proceed [1] Group 2: Strategic Development - The company showcased its "Globalization 2.0" strategy at the JPM 2026 conference, outlining its future innovation pipeline and development plans [1] - Over the next five years, the company anticipates more than 40 new clinical research applications to be approved [1] - By 2030, the company expects to have over 20 products launched globally, with 15 of them likely entering the European and American markets [1] Group 3: Product Pipeline and Market Focus - The company plans to commercialize more Antibody-Drug Conjugates (ADCs), bispecific antibodies, and T-cell engagers (TCEs) [1] - The therapeutic areas targeted include oncology, autoimmune diseases, metabolism, and central nervous system disorders [1] Group 4: Financial Performance - As of January 16, the company's stock has increased by 19.63% year-to-date and has risen by 194.18% over the past 250 days [1] - The total market capitalization of the company is HKD 37.1 billion [1]

Core Viewpoint - The company has received a notification from the China Securities Regulatory Commission (CSRC) regarding the registration of its H-share full circulation plan for approximately 182.6 million unlisted shares held by certain shareholders [1] Group 1 - The company has completed the filing for H-share full circulation with the CSRC [1] - The filing involves a total of approximately 182.6 million shares [1] - If the company does not complete the H-share full circulation conversion and listing within 12 months from the date of the notification, it must update the filing materials with the CSRC [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，並明確表示概不就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。 內幕消息公告 中國證監會就本公司H股全流通出具備案通知書 本公告由上海復宏漢霖生物技術股份有限公司（「本公司」）根據香港聯合交易所有 限公司（「聯交所」）證券上市規則（「上市規則」）第13.09條及香港法例第571章證 券及期貨條例第XIVA部之內幕消息條文（定義見上市規則）而作出。 Shanghai Henlius Biotech, Inc. 上海復宏漢霖生物技術股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2696） 1 H股全流通和轉換及上市須待滿足聯交所及其他監管機構所要求的相關程序規定 後方可完成。本公司股東及潛在投資者於買賣本公司股份及其他證券時務須審慎 行事。 代表董事會 上海復宏漢霖生物技術股份有限公司 主席 Wenjie Zhang 香港，二零二六年一月十六日 於本公告日期，本公司董事會包括主席及非執行董事Wenjie Zhang先生，執行董 事朱俊博士，非執行董 ...

Summary of Shanghai Henlius Biotech FY Conference Call Company Overview - **Company Name**: Shanghai Henlius Biotech (SEHK: 02696) - **Industry**: Biopharmaceuticals - **Key Products**: Four products approved by the U.S. FDA, seven by China NMPA, and four by EU EMA - **Clinical Trials**: Over 30 ongoing clinical trials and more than 50 early-stage assets - **Global Workforce**: Approximately 4,000 employees - **Manufacturing Capacity**: 80,000 liters facility in China - **Patient Impact**: Products have benefited over 950,000 patients globally [2][3][26] Core Competencies - **Clinical Operations**: In-house team operating across China, U.S., Australia, Japan, with 1,000 clinical research centers in 20 countries [3] - **R&D Capabilities**: 50+ early-stage molecules, with 70% aimed to be first best in class and 15% first in class [3] - **Regulatory Affairs**: 66 NDA approvals globally, including four BLA approvals by FDA last year [3] - **Manufacturing**: More than 1,150 commercial GMP batches certified by multiple regulatory authorities [3] Product Pipeline Highlights - **Serplulimab**: Approved for small cell lung cancer in China and EU, with ongoing studies for additional indications [4][5] - **Clinical Data**: Four-year overall survival (OS) rate of 21.9 months compared to standard care of 7.2 months [5] - **HELIX-22**: A novel HER2 mAb with a dual epitope strategy, currently in global phase three trials [7][9] - **Safety Profile**: Better safety compared to competitors, with ongoing recruitment of 600 patients [9] - **HELIX-43**: PD-L1 ADC targeting solid tumors, with significant efficacy data reported [10][11] - **Efficacy Rates**: ORR of 47.4% for EGFR wild type patients and 70% for cervical cancer at 3.0 mg/kg [11] Upcoming Milestones - **Regulatory Approvals**: Expecting accelerated approval for perioperative gastric cancer and additional indications for non-small cell lung cancer in the EU [14][15] - **Clinical Trials**: Initiating global phase 3 trials for various non-small cell lung cancer indications [12][16] - **Data Readouts**: Anticipated data from multiple studies at ASCO, including non-small cell lung cancer and ovarian cancer [17] Strategic Focus - **Next Generation Immuno-Oncology**: Emphasis on improving clinical responses to immunotherapy-resistant diseases [18][19] - **AI Technology**: Investment in generative AI for toxicity prediction and efficient screening [19] - **Biosimilars and Innovative Compounds**: Plans for 10 biosimilar launches and five innovative compound launches in the next five years [26][27] Financial Outlook - **Revenue Growth**: Projected double-digit growth with $0.7 billion in revenue for 2024 [26] - **Global Expansion**: Vision to launch over 20 products globally by 2030, with overseas revenue expected to exceed domestic contributions [26][27] Funding Strategies - **Revenue Utilization**: Leveraging sales revenue from biosimilars to fund innovative compound trials [27] - **Partnerships**: Open to licensing discussions and new collaborations to support development [27][28]

Market Overview - The Hong Kong stock market opened higher on January 14, with the Hang Seng Index rising by 0.46% to 26,971.97 points, the Hang Seng Tech Index up by 0.42% to 5,894.63 points, the State-Owned Enterprises Index increasing by 0.46% to 9,328.05 points, and the Red Chip Index gaining 0.25% to 4,156.46 points [1] Company News - Q Technology (01478.HK) expects a net profit growth of approximately 400% to 450% for the year ending December 31, 2025 [2] - China Coal Energy (01898.HK) anticipates a 10.2% decrease in coal sales volume to approximately 256 million tons for 2025, with December sales down by 23% year-on-year to 21.88 million tons [2] - Zhixing Technology (01274.HK) has been selected as a supplier for a Korean automotive group's driver assistance solutions for four vehicle models [2] - Country Garden (00832.HK) projects a total property contract sales amount of 8.467 billion yuan for 2025, a decrease of 16.3% year-on-year [3] - Hopson Development (00754.HK) expects total contract sales of approximately 15.607 billion yuan for 2025, down 6.15% year-on-year [4] - Chuangjie Tong (01588.HK) anticipates a profit attributable to the parent company between 76 million and 85 million yuan for 2025, representing a year-on-year increase of 127% to 154% [4] - SUTENG (02498.HK) forecasts laser radar product sales of approximately 912,000 units for 2025 [5] - Xiaocaiyuan (00999.HK) plans to establish a joint venture to develop an online mall and "community ready-to-eat stores" [6] - GDS Holdings (09698.HK) has recovered approximately 95% of the investment principal from DayOne, with an investment return rate of nearly 6.5 times [7] - China Biologic Products (01177.HK) intends to acquire 100% of Hejiya for a maximum base price of 12 million yuan to accelerate the development of its siRNA liver delivery platform [7] - Innovent Biologics (02696.HK) has had its Biologics License Application for Hanbeitai® (Bevacizumab Injection) accepted by the FDA [7] - Xiaomi Group (01810.HK) repurchased 4 million shares for 152 million HKD at prices between 37.94 and 38.04 HKD [8] - Tencent Holdings (00700.HK) repurchased 1.012 million shares for 636 million HKD at prices between 623 and 638 HKD [9] - Sunny Optical Technology (02382.HK) repurchased 640,000 shares for 41.7878 million HKD at prices between 64.55 and 65.8 HKD [10] Institutional Insights - Dongwu Securities suggests that the window for the Federal Reserve to cut interest rates this year is limited, and the impact of fiscal policies on the economy is still forthcoming. If the Fed does not cut rates in the first quarter, the rebound pace of the Hong Kong stock market will depend more on fundamental factors. The overall allocation strategy for Hong Kong stocks remains a barbell strategy, recommending a controlled allocation while waiting for more news [11] - Wanlian Securities highlights that policy opinions indicate a push to accelerate the industrialization and commercialization of brain-computer interfaces. The global competitive landscape in this sector shows the U.S. leading in invasive methods while China leads in non-invasive methods, focusing on key elements such as electrodes, chips, and algorithms [11][12]

Group 1 - Taikang Insurance Group, Inc. increased its stake in Fuhong Hanlin (02696.HK) by acquiring 204,300 shares at an average price of HKD 66.5796 per share, totaling approximately HKD 13.6022 million [1] - Following this acquisition, Taikang's total shareholding in Fuhong Hanlin rose to 10,004,100 shares, increasing its ownership percentage from 5.99% to 6.12% [1]

Core Viewpoint - The company, Fuhong Hanlin (02696.HK), has announced that its self-developed Hanbeitai® (Bevacizumab Injection) has had its biological product license application accepted by the U.S. Food and Drug Administration (FDA) [1] Group 1: Product and Indications - The application involves several indications, including: 1. Metastatic colorectal cancer 2. First-line treatment of unresectable locally advanced, recurrent, or metastatic non-squamous non-small cell lung cancer in combination with carboplatin and paclitaxel 3. Recurrent adult glioblastoma 4. Treatment of metastatic renal cell carcinoma in combination with interferon α 5. Epithelial ovarian cancer, fallopian tube cancer, or primary peritoneal cancer 6. Treatment of persistent, recurrent, or metastatic cervical cancer in combination with paclitaxel and cisplatin, or paclitaxel and topotecan [1]

Core Viewpoint - The company, Fuhong Hanlin (02696), has announced that its self-developed Hanbeitai (Bevacizumab Injection) has had its Biologics License Application (BLA) accepted by the U.S. Food and Drug Administration (FDA) [1] Group 1: Product Approval - The BLA acceptance involves multiple indications, including metastatic colorectal cancer [1] - It also includes first-line treatment for unresectable locally advanced, recurrent, or metastatic non-squamous non-small cell lung cancer in combination with carboplatin and paclitaxel [1] - Other indications include recurrent adult glioblastoma, metastatic renal cell carcinoma in combination with interferon α, epithelial ovarian cancer, fallopian tube cancer, or primary peritoneal cancer, and persistent, recurrent, or metastatic cervical cancer in combination with paclitaxel and cisplatin or paclitaxel and topotecan [1]