Core Insights - The global biopharmaceutical innovation landscape, traditionally dominated by multinational corporations, is undergoing significant structural changes, with China's innovative drug industry emerging as a key player on the global stage [1] - China's transition from a "fast follower" to an "originator" in innovative drugs is becoming an irreversible trend, as highlighted by international media [1] - Data shows a notable increase in China's share of global clinical trials and licensing transactions, with Chinese biotech companies outperforming their U.S. counterparts in stock price growth over the past year [1][3] Group 1: Market Dynamics - Multinational corporations are increasingly inclined to source early-stage innovative pipelines from China due to cost-effectiveness, with costs in China being 30%-40% lower than in the U.S. [2] - The collaboration between domestic companies and multinationals is exemplified by the $12.5 billion upfront payment from Pfizer to 3SBio for overseas rights to a bispecific antibody, marking a record for domestic innovative drugs [2][3] - The Chinese innovative drug sector is expected to see a surge in licensing transactions, with projections indicating that total licensing amounts could exceed $100 billion in the first three quarters of 2025 [3] Group 2: Investment Trends - The biopharmaceutical sector is experiencing a business development (BD) boom, with significant transactions such as the $12 billion collaboration between Hengrui Medicine and GSK, indicating strong interest from multinational companies [3][4] - Investment institutions are focusing on the biopharmaceutical sector, with approximately 80% of the market value concentrated in biotechnology and pharmaceuticals, driving capital flow into these areas [5] - The market is witnessing a shift from "story-driven" investment decisions to a focus on the hard capabilities of companies, emphasizing the importance of clinical data and product quality [9][10] Group 3: Future Outlook - The innovative drug market is expected to thrive, with projections indicating that the Hang Seng Index could double by 2025, driven by favorable policies and a rebound in industry valuations [7] - The Chinese innovative drug sector is anticipated to recover strongly in 2025, with the overall revenue of listed companies in this sector reaching 48.83 billion yuan, a 22% year-on-year increase [7] - The market is seeing a resurgence in IPO activity, with over 20 companies currently queued for listing in Hong Kong, reflecting renewed investor interest in the biopharmaceutical sector [12][13]

Group 1 - The top three stocks with the highest short-selling ratios are New World Development Co. Ltd. (100.00%), China Resources Beer (100.00%), and AIA Group Ltd. (100.00%) [1][2] - The stocks with the highest short-selling amounts are Xiaomi Corporation (2.196 billion), Ping An Insurance (1.956 billion), and Alibaba Group (1.160 billion) [1][3] - The stocks with the highest deviation values are Bank of China (52.21%), China Mobile (41.86%), and Café de Coral Holdings (40.03%) [1][2] Group 2 - The top ten short-selling ratio rankings include New World Development Co. Ltd. (100.00%), China Resources Beer (100.00%), and AIA Group Ltd. (100.00%) [2] - The top ten short-selling amounts include Xiaomi Corporation (2.196 billion), Ping An Insurance (1.956 billion), and Alibaba Group (1.160 billion) [3] - The top ten deviation values include Bank of China (52.21%), China Mobile (41.86%), and Café de Coral Holdings (40.03%) [3]

Core Viewpoint - Hansoh Pharmaceutical has successfully added two new indications for its innovative drug Amelot® to the updated National Basic Medical Insurance, Work Injury Insurance, and Maternity Insurance Drug List (2025) [1] Group 1: Drug Inclusion and Updates - The innovative drug Amelot® has been included for two new indications in the 2025 National Medical Insurance Directory [1] - The drugs Saintrolai® and Hengmu® have all indications renewed for inclusion in the 2025 National Medical Insurance Directory [1] - The updated National Directory will officially take effect on January 1, 2026 [1] Group 2: Ongoing Agreements and New Additions - The innovative drugs Fumarate Methanesulfonate Tablets (brand name: Hansoh Xinfeng®), Pegylated Liraglutide Injection (brand name: Fulaimi®), and Inalizumab Injection (brand name: Xinyue®) are currently under the National Medical Insurance Directory agreement, valid until December 31, 2026 [1] - The Methanesulfonate Chloride Injection (brand name: Mailinda®) has been included in the regular Category B of the National Medical Insurance Directory [1]

Group 1 - The core point of the news is that Hansoh Pharmaceutical (03692.HK) has successfully added two new indications for its innovative drug Amelot, which will be included in the updated National Medical Insurance Drug List for 2025, effective from January 1, 2026 [1] - The stock has received a majority of "buy" ratings from investment banks, with four firms issuing buy ratings in the last 90 days and an average target price of HKD 44.49 [1] - Huatai Securities recently issued a report giving Hansoh Pharmaceutical a buy rating with a target price of HKD 43.23 [1] Group 2 - Hansoh Pharmaceutical has a market capitalization of HKD 244.99 billion, ranking first in the chemical pharmaceutical industry [2] - Key performance indicators show that Hansoh has a Return on Equity (ROE) of 16.34%, significantly higher than the industry average of -11.38%, and a net profit margin of 42.17%, compared to the industry average of -34.83% [2] - The company also boasts a gross margin of 91.11%, which is well above the industry average of 50.96%, and a debt ratio of 11.33%, much lower than the industry average of 39.81% [2]

Core Insights - Hansoh Pharmaceutical (03692) announced that its innovative drug Amivantamab has successfully added two new indications to the 2025 National Medical Insurance Directory, which will be implemented on January 1, 2026 [1][2] Group 1: New Indications for Amivantamab - Amivantamab (brand name: 阿美乐) has received approval for two new indications for the treatment of adult non-small cell lung cancer (NSCLC) patients with specific EGFR mutations [1] - The new indications include treatment for patients who have previously undergone surgical resection and for those with locally advanced, unresectable NSCLC who have not shown disease progression during or after platinum-based chemotherapy [1] Group 2: Renewal of Other Drugs in the National Medical Insurance Directory - The drug Pemigatinib (brand name: 圣罗莱) has had its two indications renewed for inclusion in the 2025 National Medical Insurance Directory, specifically for treating anemia caused by chronic kidney disease [2] - The drug Adefovir Dipivoxil (brand name: 恒沐) has also been renewed for chronic hepatitis B treatment in adult patients [2] - Other innovative drugs such as Fluoromethylphenyl (brand name: 豪森昕福), Pegylated Liraglutide (brand name: 孚来美), and Inotuzumab Ozogamicin (brand name: 昕越) are currently under the National Medical Insurance Directory agreement until December 31, 2026 [2]

Core Insights - Hansoh Pharmaceutical (03692) announced that its innovative drug Amivantamab has successfully added two new indications to the 2025 National Medical Insurance Directory, effective January 1, 2026 [1][2] - The drug Pemigatinib (brand name: Saintrolai) has renewed its inclusion in the 2025 National Medical Insurance Directory for two indications related to anemia caused by chronic kidney disease [1] - The drug Adefovir Dipivoxil (brand name: Hengmu) has also renewed its inclusion for the treatment of chronic hepatitis B in adults [2] Summary by Category New Indications - Amivantamab (brand name: Amivale) has received approval for two new indications for the treatment of adult non-small cell lung cancer (NSCLC) patients with specific EGFR mutations [1] - The new indications include treatment for patients who have undergone surgical resection and those with locally advanced, unresectable NSCLC [1] Renewed Inclusion - Pemigatinib (brand name: Saintrolai) has renewed its inclusion for treating anemia in adults with chronic kidney disease, covering both non-dialysis and dialysis patients [1][2] - Adefovir Dipivoxil (brand name: Hengmu) has renewed its inclusion for chronic hepatitis B treatment in adults [2] Other Relevant Drugs - Other innovative drugs such as Fluoromethylphenidate (brand name: Haosenxinfu), Pegylated Liraglutide (brand name: Fulaimai), and Inalizumab (brand name: Xinyue) are currently under the National Medical Insurance Directory agreement until December 31, 2026 [2]

（股份代號：3692） 自願公告 有關創新藥納入2025國家醫保目錄的業務進展 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，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Hansoh Pharmaceutical Group Company Limited 翰森製藥集團有限公司 （ 於開曼群島註冊成立的有限公司 ） 一、甲磺酸阿美替尼片（商品名：阿美樂®）於二零二五年三月、四月獲批的兩項 新增適應症納入2025國家醫保目錄： • 既往接受過手術切除治療的II-IIIB期具有表皮生長因子受體（「EGFR」） 外顯子 1 9 缺失或外顯子 21(L858R) 置換突變的成人非小細胞肺癌 （「NSCLC」）患者的治療。 • 接受含鉑放化療期間或之後未出現疾病進展，及具有EGFR外顯子19缺 失或外顯子21(L858R)置換突變的局部晚期、不可切除（III期）NSCLC成 人患者的治療。 二、培莫沙肽注射液（商品名：聖羅萊®）兩項適應症均續約納入2025國家醫保目 錄：用於治療因慢性腎臟病引起的貧血 ...

Group 1 - FTSE Russell announced the new candidate stocks for the FTSE China 50 Index, which include China Aluminum (601600)(02600), Hansoh Pharmaceutical (03692), Huatai Securities (601688)(06886), JD Health (06618), and New China Life Insurance (601336)(01336) [1] - On December 3, FTSE Russell announced adjustments to the FTSE China 50 Index, FTSE China A50 Index, FTSE China A150 Index, FTSE China A200 Index, and FTSE China A400 Index, effective after the market close on December 19, 2025 [2] - The adjustments will include the addition of China Hongqiao (01378), CATL (300750)(03750), and Heng Rui Medicine (600276)(01276) to the FTSE China 50 Index, while removing CITIC Securities H-share (06066), Great Wall Motor H-share (02333), and Li Auto-W (02015) [2]

Core Viewpoint - FTSE Russell announced adjustments to several indices including the FTSE China 50 Index, which will take effect after market close on December 19, 2025 [1] Group 1: Index Adjustments - The FTSE China 50 Index will include new constituents such as China Hongqiao (01378), CATL (03750), and Heng Rui Pharmaceutical (01276) [1] - The index will exclude companies like CITIC Securities H (06066), Great Wall Motors H (02333), and Li Auto-W (02015) [1] Group 2: Alternative Stocks - FTSE Russell released a list of alternative stocks for the FTSE China 50 Index, which includes companies like Aluminum Corporation of China (02600), Hansoh Pharmaceutical (03692), Huatai Securities (06886), JD Health (06618), and New China Life Insurance (01336) [1]

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11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 翰森製藥集團有限公司 呈交日期: 2025年12月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03692 | 說明 | - | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | HKD | | 0.00001 | HKD | | 200,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 20,000,000,000 | HKD | | 0.00001 | HKD | | 200,000 | 本月底法 ...