Financial Performance - Henlius achieved a revenue of RMB 2.82 billion in 2025 H1, representing a 2.7% year-over-year growth[5, 207, 212] - Product sales reached RMB 2.56 billion in 2025 H1, a 3.1% year-over-year increase[6, 207, 212] - The company's net profit was RMB 386 million, with a net profit margin of 13.8%[5, 6] - Net operating cash inflow reached RMB 770 million, showing a 207% year-over-year growth[6] Business Development & Out-licensing - BD contract cash inflow exceeded RMB 1 billion in 2025 H1, a 280% year-over-year growth[6] - Out-licensing deals include HLX13 (Ipilimumab) to Sandoz for up to USD 300 million, HLX15 (daratumumab) to Dr Reddy's for up to USD 131.6 million, and HANSIZHUANG (serplulimab) to Lotus in South Korea for up to USD 112 million[6, 48] - Recent major out-licensing products contributed cash inflow of approximately RMB 670 million in 1H25[47] Key Products Performance - HANSIZHUANG sales reached RMB 0.6 billion in 2025 H1[6] - HANQUYOU global revenue in 1H2025 was RMB 1.44 billion[146] - HANBEITAI revenue in 1H2025 was RMB 116 million[176] - HANNAIJIA revenue in 1H2025 was RMB 97 million[158] - HANLIKANG revenue in 1H2025 was RMB 274 million[186] - HANDAYUAN revenue in 1H2025 was RMB 27 million[186]

Group 1 - Company Kexing Pharmaceutical is planning to issue H-shares and list on the Hong Kong Stock Exchange, with discussions ongoing with relevant intermediaries, but specific details are yet to be determined [1] - In the first half of 2025, Kexing Pharmaceutical reported revenue of 700 million yuan, a year-on-year decrease of nearly 8%, while net profit attributable to shareholders increased by 576% to 80.34 million yuan [1] Group 2 - Company Junshi Biosciences has completed the administration of the first patient in the U.S. for the international multi-center Phase II clinical study of HLX43, a PD-L1 antibody-drug conjugate for advanced non-small cell lung cancer [2] - The clinical study is also being conducted in China, with plans to expand to Australia and Japan when conditions permit [2] Group 3 - Company Sanofi Biologics announced that shareholders plan to reduce their holdings by a total of up to 3.43%, with specific reductions from various executives and shareholders scheduled between September 15 and December 14, 2025 [3] - This potential reduction may cause short-term fluctuations in the stock price, while the long-term value will depend on the company's core business developments [3] Group 4 - Company Changshan Pharmaceutical reported a net loss of approximately 29.09 million yuan for the first half of 2025, with revenue of about 492 million yuan, a year-on-year decrease of 13.42% [4] - The company needs to focus on business restructuring and improving product competitiveness to enhance performance and profitability [4] Group 5 - Company Tianyao Pharmaceutical reported a revenue of approximately 1.588 billion yuan for the first half of 2025, a year-on-year decrease of 11.81%, with a net profit of about 49.3 million yuan, down 65.28% [5] - The decline in revenue and net profit is attributed to price reductions from centralized procurement and market competition affecting raw materials, alongside a fine exceeding 69 million yuan due to monopoly issues [5]

Core Viewpoint - The company, Junshi Biosciences (复宏汉霖), has announced the completion of the first patient dosing in the United States for its international multicenter Phase II clinical study of HLX43, a PD-L1 targeted antibody-drug conjugate, in patients with advanced non-small cell lung cancer (NSCLC) [1] Group 1 - The Phase II clinical study is also being conducted simultaneously in mainland China, excluding Hong Kong, Macau, and Taiwan [1] - The company plans to conduct clinical trials in Australia and Japan once conditions are met [1]

Core Viewpoint - The company, Fuhong Hanlin (02696), has announced the completion of the first patient dosing in the United States for an international multicenter phase II clinical trial of HLX43, a PD-L1 targeted antibody-drug conjugate, in patients with advanced non-small cell lung cancer (NSCLC) [1] Group 1: Clinical Trial Details - The phase II clinical trial is designed to evaluate the efficacy and safety of HLX43 in patients with advanced NSCLC [1] - The study consists of two phases: the first phase focuses on dose exploration to select an appropriate dose for the second phase, which is a single-arm, multicenter phase II clinical study [1] - The primary objective of the study is to assess the clinical efficacy of HLX43 in advanced NSCLC, with the main endpoint being the objective response rate evaluated by a blinded independent review committee according to RECIST v1.1 criteria [1] Group 2: Market Context - As of the date of the announcement, there are no approved PD-L1 targeted antibody-drug conjugates available in the global market [1]

Core Viewpoint - The company, Junshi Biosciences (复宏汉霖), has announced the completion of the first patient dosing in the United States for an international multicenter phase 2 clinical trial of HLX43, a PD-L1 targeted antibody-drug conjugate, in patients with advanced non-small cell lung cancer (NSCLC) [1] Group 1: Clinical Trial Details - The phase 2 clinical trial is designed to evaluate the efficacy and safety of HLX43 in patients with advanced NSCLC [1] - The study consists of two phases: the first phase focuses on dose exploration to select an appropriate dose for the second phase, while the second phase is a single-arm, multicenter phase 2 clinical study [1] - The primary objective of the study is to assess the clinical efficacy of HLX43 in advanced NSCLC, with the main endpoint being the objective response rate evaluated by a blinded independent review committee according to RECIST v1.1 criteria [1] Group 2: Market Context - As of the date of the announcement, there are no approved PD-L1 targeted antibody-drug conjugates available in the global market [1] - The company plans to conduct clinical trials in Australia and Japan once conditions are suitable, in addition to the ongoing trials in China (excluding Hong Kong, Macau, and Taiwan) [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。 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） 自願公告 本公告由上海復宏漢霖生物技術股份有限公司（「本公司」）自願作出，以告知 本公司股東及潛在投資者本公司最新業務更新。 本公司董事會（「董事會」）欣然宣佈，近日，一項注射用HLX43（靶向PD-L1 抗體偶聯藥物）（「HLX43」）在晚期非小細胞肺癌(NSCLC)患者中開展的國際 多中心2期臨床研究已完成美國首例患者給藥。該2期臨床研究亦正同步於中 國境內（不包括港澳台地區，下同）開展，本公司擬於條件具備後於澳大利亞 及日本等國家開展臨床試驗。 B. 臨床試驗設計及目的 本研究為一項評估HLX43在晚期非小細胞肺癌(NSCLC)患者的開放、國際 多中心2期臨床試驗，旨在評估HLX43在晚期非小細胞肺癌(NSCLC)患者中 的有效性和安全性 ...

Core Viewpoint - Fuhong Hanlin (02696) has seen a significant stock price increase following the announcement of a strategic partnership with Qide Pharmaceutical for the development and commercialization of the innovative HER2-targeted antibody-drug conjugate (ADC) GQ1005 in China and select overseas markets [1] Group 1: Strategic Partnership - Fuhong Hanlin has entered into a strategic collaboration with Qide Pharmaceutical to obtain exclusive rights for the development and commercialization of GQ1005, which is currently in Phase III clinical trials for HER2-positive breast cancer [1] - GQ1005 is developed using Qide Pharmaceutical's proprietary enzyme-mediated site-specific conjugation technology, showing comparable anti-tumor activity to Trastuzumab in preclinical studies [1] Group 2: Market Position and Product Pipeline - Breast cancer is a core therapeutic area for Fuhong Hanlin, which has established a diversified product pipeline covering the entire disease course and molecular subtypes of breast cancer [1] - The company has built a global commercialization network through its own commercial team and partnerships with overseas collaborators, aiming to continuously unlock the commercial value of its breast cancer pipeline [1]

公开资料显示，GQ1005是启德医药基于独创的酶促定点偶联技术开发的靶向HER2的创新ADC药物。 临床前研究显示，GQ1005在多个肿瘤细胞系异种移植模型中展现出与德曲妥珠单抗相当的抗肿瘤活 性，且安全性优势明显。据悉，乳腺癌是复宏汉霖重点布局的核心治疗领域，公司已建立覆盖乳腺癌全 病程、全分子亚型的多元化产品管线，通过自建商业化团队和携手海外合作伙伴，组建了覆盖全球的商 业化网络，持续释放乳腺癌管线的商业价值。 智通财经APP获悉，复宏汉霖(02696)午后涨超8%，高见85.95港元再创新高，截至发稿，涨6.14%，报 83.85港元，成交额9514.09万港元。 消息面上，复宏汉霖近日宣布，与启德医药达成战略合作。根据约定，复宏汉霖将获得由启德医药开发 的创新HER2靶向抗体偶联药物（ADC）GQ1005在中国及特定海外国家和地区开发和独家商业化权 益。目前，该药物处于III期临床研究阶段，拟用于治疗HER2阳性乳腺癌。 ...

复宏汉霖(2696.HK)午后一度涨8.8%至85.95港元，股价续创历史新高，市值达466亿港元，年内已累涨超2.6倍，较1月23日盘中触及的年内低点(15.2港元)已 累涨465.46%。 个股方面，2025年世界肺癌大会(WCLC)官网日前公布入选摘要名单，复宏汉霖在肺癌领域的10项研究成功入选多个重要专场，包括4项口头报告及2项壁报 导览，覆盖NSCLC、SCLC等多个亚型一线治疗领域，显示公司在全球学术舞台的影响力持续提升。 花旗认为复宏汉霖即将在世界肺癌大会(WCLC)公布HLX43的最新数据，将进一步揭示其在非小细胞肺癌(NSCLC)治疗的潜力。该行估算HLX43的经风险调 整销售高峰可达约23亿美元，如果在NSCLC及其他适应症方面取得更多数据，仍有上行空间。该行将复宏汉霖的目标价由35港元大幅上调至95港元，评级 由"中性"上调至"买入"。 行业方面，中共中央政治局常委、国务院总理李强8月20日在北京调研生物医药产业发展情况。他强调，要加大高质量科技供给和政策支持，充分发挥企业 创新主体作用，着力推动生物医药产业提质升级。有分析认为，这预示着国家层面将持续并加大对该行业的政策扶持和资源投入。 ...

每经AI快讯，8月21日，港股创新药概念午后走高，乐普生物(02157.HK)涨超9%，复宏汉霖(02696.HK) 涨超5%，君实生物(01877.HK)、荣昌生物(09995.HK)等个股跟涨。 （文章来源：每日经济新闻） ...