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]

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: Company Developments - Fuhong Hanlin's stock rose over 8%, reaching a new high of 85.95 HKD, and is currently trading at 83.85 HKD with a trading volume of 95.14 million HKD [1] - The strategic cooperation with Qide Pharmaceutical involves GQ1005, which is currently in Phase III clinical trials aimed at treating 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, with notable safety advantages [1] Group 2: Market Position and Strategy - 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, continuously unlocking the commercial value of its breast cancer pipeline [1]

Company - Fuhong Hanlin (2696.HK) saw its stock price rise by 8.8% to HKD 85.95, reaching a historical high with a market capitalization of HKD 46.6 billion, and has increased over 2.6 times this year, up 465.46% from its year-to-date low of HKD 15.2 on January 23 [1] - The World Lung Cancer Conference (WCLC) announced that Fuhong Hanlin's 10 research studies in the lung cancer field were selected for important sessions, including 4 oral presentations and 2 poster discussions, indicating the company's growing influence on the global academic stage [1] - Citigroup estimates that the peak sales potential for HLX43 could reach approximately USD 2.3 billion, and with more data on NSCLC and other indications, there is still room for upside; the target price for Fuhong Hanlin was raised significantly from HKD 35 to HKD 95, with the rating upgraded from "Neutral" to "Buy" [1] Industry - Premier Li Qiang emphasized the need to enhance high-quality technological supply and policy support for the biopharmaceutical industry during a recent survey, indicating that the government will continue to provide policy support and resource investment in this sector [2] - The ongoing high-level discussions signal a strong and positive message regarding the government's commitment to the biopharmaceutical industry, especially in the current economic context [2]

Group 1 - The Hong Kong stock market saw a rise in innovative drug concepts on August 21, with notable increases in stock prices for several companies [1] - Lepu Biopharma (02157.HK) experienced a surge of over 9% [1] - Other companies such as Junshi Biosciences (01877.HK) and Rongchang Biopharma (09995.HK) also saw significant gains, with Junshi rising over 5% [1]

Core Viewpoint - The Hong Kong biopharmaceutical stocks experienced a general increase, driven by government support for the industry, particularly emphasized by Premier Li Qiang during his recent visit to Beijing [1] Industry Summary - The biopharmaceutical sector in Hong Kong saw significant stock price increases, with notable gains including 5% for Fuhong Hanlin, 3.6% for King’s Ray Biopharmaceutical, and over 3% for WuXi AppTec [1] - Premier Li Qiang highlighted the need for enhanced high-quality technological supply and policy support to promote the development of the biopharmaceutical industry, aiming to produce more high-quality and efficient new drugs [1] - Continuous high-level endorsements from the government signal a strong commitment to supporting the biopharmaceutical industry, especially in the current economic context [1] Company Summary - Fuhong Hanlin (02696) latest price: 83.000, change: +5.06% [1] - King’s Ray Biopharmaceutical (01548) latest price: 17.940, change: +3.64% [1] - WuXi AppTec (02268) latest price: 59.600, change: +3.38% [1] - Other companies with notable increases include: - Keren Biotechnology (06990) +3.29% - Kangfang Biopharmaceutical (09926) +2.83% - Rongchang Biopharmaceutical (09995) +2.87% - Junshi Biosciences (01877) +2.69% - BeiGene (06160) +2.60% [1]