（於中華人民共和國註冊成立的股份有限公司） Shanghai Henlius Biotech, Inc. 上海復宏漢霖生物技術股份有限公司 （股份代號：2696） 於2025年5月8日（星期四）舉行的 股東周年大會 所提呈決議案之投票結果 上海復宏漢霖生物技術股份有限公司（「本公司」）董事（「董事」）會（「董事會」）欣 然宣佈於2025年5月8日（星期四）上午10時正假座中國上海市徐匯區宜州路188號 B8幢10樓會議室舉行的股東周年大會（「股東周年大會」）之投票結果。 茲提述本公司日期均為2025年4月15日之股東周年大會通告及通函（「通函」）。除 文義另有所指外，本公告所用詞彙與通函所界定者具有相同涵義。 股東周年大會 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。 於股東周年大會日期，本公司已發行股份（「股份」）總數為543,494,853股（包 含380,066,312股非上市股份及163,428,541股H股），該等股份持有人（或授權 代表） ...

Core Insights - Shanghai Junshi Biosciences Co., Ltd. (复宏汉霖) has successfully transitioned from a pre-profit biotech firm to a profitable entity, achieving a net profit of 546 million yuan in 2023 and a 50.3% year-on-year growth to 820 million yuan in 2024, marking it as the first company to achieve full profitability under the Hong Kong Stock Exchange's Chapter 18A for pre-profit biotech firms [1][3][6] Group 1: Business Strategy - The company has adopted a differentiated and global strategy, rapidly commercializing its innovative products and establishing a significant presence in the global market [1][3] - Junshi's innovative drug, Hanshu, has become the first and only product in the EU to potentially secure a market exclusivity period of up to 10 years [1][6] - The company has successfully launched four products in over 50 countries, reaching 750,000 patients by the end of 2024 [1][8] Group 2: R&D and Innovation - Junshi has focused on high-risk, differentiated indications for drug development, targeting less crowded markets such as small cell lung cancer and gastric cancer [5][6] - The company is advancing its PD-L1 targeted antibody-drug conjugate (ADC) project, HLX43, which is the second globally to enter clinical trials, exploring efficacy against five solid tumors [4][5] - AI technology is being utilized to shorten R&D timelines and reduce costs, with successful projects including the development of a second-generation hyaluronidase [7][8] Group 3: Global Expansion - Junshi has submitted 25 registration applications globally in 2024, receiving 17 approvals across various regions including China and the US [6][8] - The company has established a strong international presence, with a focus on markets in the US, EU, Japan, Southeast Asia, the Middle East, and Latin America [6][8] - Collaborations with global partners such as Abbott and Dr. Reddy's are being pursued to enhance early pipeline development and create a collaborative ecosystem [7][8]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified [5]. Core Insights - The company has signed a collaboration and licensing agreement with Sandoz AG for the development and commercialization of its product HLX13, a recombinant anti-CTLA-4 monoclonal antibody, in several regions including the US and Europe, with potential payments up to $191 million [1]. - Sandoz, a leader in biosimilars, is expected to enhance the commercialization of HLX13, which is the first CTLA-4 monoclonal antibody biosimilar to enter Phase III clinical trials globally [2]. - The company has established a strong global presence through multiple licensing agreements for its biosimilars, generating significant upfront payments totaling $64 million in 2025 alone [3]. - The company plans to present clinical data for its innovative drugs HLX43 and HLX22 at the 2025 ASCO conference, with HLX43 expected to become a key product and HLX22 potentially changing the standard treatment for HER2-positive gastric cancer [4]. Financial Projections - The company is projected to achieve total revenues of 5.873 billion, 5.970 billion, and 7.125 billion yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 2.60%, 1.64%, and 19.36% [5]. - The net profit attributable to shareholders is expected to be 827 million, 797 million, and 1.122 billion yuan for the same years [5].

Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified [5]. Core Insights - The company has signed a collaboration and licensing agreement with Sandoz AG for the development and commercialization of its product HLX13, a recombinant anti-CTLA-4 monoclonal antibody, in several regions including the US and Europe, with potential payments up to $191 million [1]. - Sandoz, a leader in biosimilars, is expected to enhance the commercialization of HLX13, which is the first CTLA-4 monoclonal antibody biosimilar to enter Phase III clinical trials globally [2]. - The company has established a strong global presence through multiple licensing agreements for its biosimilars, generating significant upfront payments, showcasing its capabilities in overseas markets [3]. - The company plans to present clinical data for its innovative drugs HLX43 and HLX22 at the 2025 ASCO conference, with HLX43 expected to become a key product and HLX22 potentially changing the standard treatment for HER2-positive gastric cancer [4]. Financial Projections - The company is projected to achieve revenues of 5.873 billion, 5.970 billion, and 7.125 billion yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 2.60%, 1.64%, and 19.36% [5]. - The net profit attributable to shareholders is expected to be 827 million, 797 million, and 1.122 billion yuan for the same years [5].

Performance Summary - Industrial and Commercial Bank of China (01398.HK) reported Q1 revenue of 204.688 billion yuan, a decrease of 2.61% year-on-year, and a net profit of 84.156 billion yuan, down 3.99% [3] - China Construction Bank (00939.HK) had Q1 operating income of 185.99 billion yuan, down 4.76% year-on-year, with a net profit of 83.351 billion yuan, also down 3.99% [3] - Agricultural Bank of China (01288.HK) achieved Q1 revenue of 186.735 billion yuan, an increase of 0.32% year-on-year, and a net profit of 71.931 billion yuan, up 2.2% [3] - Bank of China (03988.HK) reported Q1 revenue of 164.911 billion yuan, an increase of 2.41% year-on-year, but a net profit of 58.644 billion yuan, down 2.22% [3] - Postal Savings Bank of China (01658.HK) had Q1 revenue of 89.406 billion yuan, a slight decrease of 0.1%, and a net profit of 25.246 billion yuan, down 2.62% [3] - China Merchants Bank (03968.HK) reported Q1 revenue of 83.731 billion yuan, down 3.11% year-on-year, with a net profit of 37.286 billion yuan, down 2.08% [3] - Bank of Communications (03328.HK) had Q1 net operating income of 66.44 billion yuan, down 1.13%, but a net profit of 25.372 billion yuan, up 1.54% [3] - HSBC Holdings (00005.HK) reported Q1 revenue of 17.649 billion USD, down 14.95%, and a post-tax profit of 7.57 billion USD, down 30.15% [3] - China People's Insurance Group (01339.HK) achieved Q1 revenue of 156.589 billion yuan, up 12.8%, and a net profit of 12.849 billion yuan, up 43.4% [3] - China Life Insurance (02628.HK) reported Q1 revenue of 110.177 billion yuan, down 8.9%, but a net profit of 28.802 billion yuan, up 39.5% [3] - New China Life Insurance (01336.HK) had Q1 revenue of 33.402 billion yuan, up 26.1%, and a net profit of 5.882 billion yuan, up 19% [3] - China National Petroleum Corporation (00857.HK) reported Q1 revenue of 753.108 billion yuan, down 7.3%, but a net profit of 46.809 billion yuan, up 2.3% [3] - CNOOC (00883.HK) had Q1 revenue of 106.854 billion yuan, down 4.1%, and a net profit of 36.563 billion yuan, down 7.9% [3] - Huadian International Power (01071.HK) reported Q1 revenue of 26.577 billion yuan, down 14.14%, but a net profit of 1.93 billion yuan, up 3.66% [3] - China International Marine Containers (01880.HK) had Q1 revenue of 16.746 billion yuan, down 10.96%, and a net profit of 1.938 billion yuan, down 15.98% [3] - Air China (00753.HK) reported Q1 revenue of 40.023 billion yuan, down 0.11%, with a net loss of 2.044 billion yuan, an increase of 22.07% [3] - CITIC Securities (06030.HK) achieved Q1 revenue of 17.761 billion yuan, up 29.13%, and a net profit of 6.545 billion yuan, up 32% [3] - China Galaxy Securities (06881.HK) reported Q1 revenue of approximately 7.558 billion yuan, up 4.77%, and a net profit of approximately 3.016 billion yuan, up 84.86% [3] - CITIC Construction Investment Securities (06066.HK) had Q1 operating income of 4.919 billion yuan, up 14.54%, and a net profit of 1.843 billion yuan, up 50.07% [3] - Huatai Securities (06886.HK) reported Q1 revenue of approximately 8.232 billion yuan, up 34.83%, and a net profit of approximately 3.642 billion yuan, up 58.97% [3] - China Railway Construction (01186.HK) had Q1 revenue of 256.762 billion yuan, down 6.61%, and a net profit of 5.151 billion yuan, down 14.51% [3] - China Energy Engineering (03996.HK) reported Q1 revenue of 100.371 billion yuan, up 3.05%, and a net profit of 1.612 billion yuan, up 8.83% [3] - Times Electric (03898.HK) achieved Q1 revenue of 4.537 billion yuan, up 14.81%, and a net profit of 631 million yuan, up 13.42% [3] - Midea Group (00300.HK) reported Q1 revenue of 127.839 billion yuan, up 20.49%, and a net profit of 12.422 billion yuan, up 38.02% [3] - WH Group (00288.HK) had Q1 revenue of 6.554 billion USD, up 6.0%, and a profit of 364 million USD, up 20.9% [3] - Suncity Group (00880.HK) reported Q1 total revenue of 7.48 billion HKD, up 8.1%, and a net profit of 31 million HKD, turning profitable [3] - COSCO Shipping Ports (01199.HK) had Q1 revenue of 3.82 billion USD, up 14.7%, and a net profit of 839 million USD, up 33.5% [3] - Flat Glass Group (06865.HK) reported Q1 revenue of 4.079 billion yuan, down 28.76%, and a net profit of 106 million yuan, down 86.03% [3] - Zoomlion Heavy Industry (01157.HK) achieved Q1 revenue of 12.117 billion yuan, up 2.92%, and a net profit of 1.41 billion yuan, up 53.98% [3] - Ganfeng Lithium (01772.HK) reported Q1 revenue of approximately 3.772 billion yuan, down 25.43%, with a net loss of approximately 356 million yuan, narrowing by 18.93% [3] - Qingdao Port (06198.HK) had Q1 revenue of 4.807 billion yuan, up 8.51%, and a net profit of 1.402 billion yuan, up 6.51% [3] - China Shipbuilding Defense (00317.HK) reported Q1 revenue of approximately 3.641 billion yuan, up 29.73%, and a net profit of approximately 184 million yuan, up about 11 times [3] - Baiyunshan Pharmaceutical (00874.HK) had Q1 revenue of 22.473 billion yuan, down 2.06%, and a net profit of 1.821 billion yuan, down 6.99% [3] Investment Activities - New China Life Insurance (01336.HK) plans to invest no more than 10 billion yuan to subscribe to a private fund [4] - China Life Insurance (02628.HK) intends to invest 2 billion yuan to establish a partnership [4] Contract Signing - China Metallurgical Group (01618.HK) reported a new contract signing amount of 230.66 billion yuan in Q1, a decrease of 27.2% year-on-year, with overseas contracts amounting to 12.04 billion yuan, down 35.7% [5] Energy Production - Xin Tian Green Energy (00956.HK) completed power generation of 4.5442 million MWh in Q1, an increase of 10.37% year-on-year [6] - China Power (02380.HK) reported total electricity sales of 30.7477 million MWh in the first three months, up 2.59% year-on-year, with March sales of 10.9617 million MWh, up 3.95% [6] - Qingdao Port (06198.HK) achieved a total cargo throughput of 177 million tons in the first three months, up 2.9% year-on-year [6] Licensing Agreement - Fuhong Hanlin (02696.HK) entered into a licensing agreement with Sandoz AG for the commercialization of HLX13 in specified regions [6] Privatization Offer - Dingsheng Creation (00113.HK) received a privatization offer at a premium of approximately 50.63%, with a maximum cash consideration of about 1.0986 billion HKD [7] Share Buybacks - AIA Group (01299.HK) repurchased shares for 342.6 million HKD, buying back 6.2592 million shares at prices between 54.25 and 55.35 HKD [8] - J&T Express-W (01519.HK) repurchased shares for 9.2485 million HKD, buying back 1.54 million shares at prices between 5.98 and 6.03 HKD [8]

Core Viewpoint - The company has entered into a collaboration and licensing agreement with Sandoz AG for the development, production, and commercialization of its investigational product HLX13 in specified regions [1] Group 1: Agreement Details - The agreement grants Sandoz AG rights to develop, produce, and commercialize HLX13 in the United States, 42 European countries, Japan, Australia, and Canada [1] - Sandoz AG will pay up to $191 million to the company, which includes an upfront payment of $31 million and milestone payments related to development [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。 （股份代號：2696） 本公司董事會欣然宣佈，近日，本公司與Sandoz AG（「Sandoz」）訂立一份許 可協議（「許可協議」），據此，本公司向Sandoz授出獨家許可，供其於美國、 約定的歐洲地區（42個歐洲國家）、日本、澳大利亞及加拿大（「區域」）內及領 域（定義如下）內商業化HLX13（重組抗CTLA-4全人單克隆抗體注射液）（「許 可產品」或「HLX13」）。 內幕消息公告 就HLX13（重組抗CTLA-4全人單克隆抗體注射液） 與Sandoz訂立的許可協議 Shanghai Henlius Biotech, Inc. 上海復宏漢霖生物技術股份有限公司 A. 緒言 （於中華人民共和國註冊成立的股份有限公司） 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（ ...

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） HLX22（重組人源化抗HER2單克隆抗體注射液） 聯合曲妥珠單抗和化療(XELOX) 對比曲妥珠單抗和化療(XELOX)聯合或不聯合帕博利珠單抗 一線治療HER2陽性局部晚期或轉移性胃食管交界部和胃癌的 國際多中心3期臨床試驗申請於歐盟國家（德國）獲批 C. 市場情況 截至本公告日，於全球範圍內尚無同類聯合用藥治療方案獲批用於治療胃癌╱胃 食管交界部癌。 自願公告 A. 緒言 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，HLX22（重組人源化抗HER2單克隆 抗體注射液）（「HLX22」）聯合曲妥珠單抗和化療(XELOX)對比曲妥 ...

Investment Rating - The report does not explicitly state an investment rating for the industry, but it suggests a long-term focus on domestic innovative drugs in the oncology field and AI medical investment opportunities [3][4]. Core Insights - The pharmaceutical and biotechnology sector saw a weekly increase of 1.16%, outperforming the Wind All A index (1.15%) and the CSI 300 index (0.38%) [3][8]. - The upcoming ASCO conference is highlighted as a significant event for domestic innovative drug companies, with over 70 oral presentations and more than 10 major studies expected [3][4]. - The Ministry of Industry and Information Technology and six other departments issued a plan for the digital transformation of the pharmaceutical industry, aiming for significant advancements by 2027 and full coverage by 2030 [3][4]. Market Weekly Review - The pharmaceutical and biotechnology sector increased by 1.16% from April 21 to April 25, outperforming the Wind All A index and the CSI 300 index [3][8]. - Notable performers included medical research outsourcing (6.34%) and raw materials (4.72%), while blood products (-3.26%) and vaccines (-6.38%) continued to decline [3][9]. - Individual stock performances showed significant gains for Yong'an Pharmaceutical (31.4%), Shuyou Shen (28.4%), and Erkang Pharmaceutical (27.7%), while *ST Jiyuan (-43.2%), Nanhua Biological (-35.3%), and Shuangcheng Pharmaceutical (-27.7%) faced substantial losses [3][11]. Industry News and Key Company Announcements - On April 25, Kangfang Bio announced FDA approval for its drug Anike for the treatment of recurrent or metastatic nasopharyngeal carcinoma [12]. - The same day, Kangfang Bio also reported the approval of its PD-1/VEGF bispecific antibody for first-line treatment of specific lung cancer types [13]. - The digital transformation plan for the pharmaceutical industry aims to enhance competitiveness and quality management through AI and data integration by 2030 [3][4].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of HKD 61.59 per share, compared to the current price of HKD 37.85 [6]. Core Insights - The company is entering a harvest period for its innovation and internationalization efforts, following significant progress in its pipeline and global expansion after privatization [1]. - The company has achieved historical profitability in the first half of 2023, with a revenue of HKD 25.01 billion, marking a year-on-year increase of 93.9% [6][25]. - The innovative drug segment, particularly the differentiated PD-1 drug, is expected to drive significant revenue growth in the medium term [4][6]. Summary by Sections 1. Commercialization and Innovation - The company has established itself as a pioneer in biosimilars, with its first product, Rituximab, approved in 2019, and is now focusing on expanding its innovative drug portfolio [14][15]. - The revenue from biosimilars reached HKD 36.3 billion in 2024, while the innovative drug segment generated HKD 13.1 billion, accounting for 22.86% of total sales [29]. 2. HLX43: Potential in PD-L1 ADC - HLX43 is the second PD-L1 ADC drug to enter clinical trials globally, showing significant potential as a future pillar in the company's pipeline [2]. - The drug is currently in clinical phase II and has demonstrated promising data, indicating a strong confidence from the company in its development [2]. 3. HLX22: Potential to Change HER2 Positive Gastric Cancer Treatment - HLX22 has shown superior clinical benefits compared to standard treatments in HER2 positive gastric cancer, with ongoing international phase III trials [3]. - The drug has received orphan drug designation in the US, highlighting its potential in the gastric cancer treatment landscape [3]. 4. Differentiated PD-1 Drug: Surulitinib - Surulitinib is positioned to address unmet clinical needs in small cell lung cancer, with expected rapid market uptake upon approval [4]. - The drug has shown optimal data in clinical trials, indicating a strong commercial potential in various indications [4]. 5. Internationalization and Market Expansion - The company has a strong track record in internationalization, with significant licensing agreements and expected revenue growth from overseas markets starting in 2025 [5]. - The company aims to leverage its first-mover advantage in biosimilars and innovative drugs to maximize market value domestically and internationally [5]. 6. Profit Forecast - Revenue projections for 2025-2027 are estimated at HKD 58.73 billion, HKD 59.70 billion, and HKD 71.25 billion, with corresponding net profits of HKD 8.27 billion, HKD 7.97 billion, and HKD 11.22 billion [6]. - The company is expected to continue its upward trajectory in profitability, driven by its innovative pipeline and effective cost management strategies [6][32].