Core Viewpoint - Hansoh Pharmaceutical (03692) announced a mid-term dividend of HKD 0.2316 per share for the six months ending June 30, 2025, to be distributed on October 30, 2025 [1] Company Summary - The mid-term dividend reflects the company's ongoing commitment to returning value to shareholders [1] - The dividend amount is set at HKD 0.2316 per share, indicating the company's financial health and profitability for the specified period [1]

EF001 | EF001 | | --- | 第 2 頁 共 2 頁 v 1.1.1 第 1 頁 共 2 頁 v 1.1.1 | 為享有股息權利而行使轉換權之最後 | 2025年9月25日 | 16:30 | | --- | --- | --- | | 時限 | | | | 其他信息 | | | | 其他信息 | 不適用 | | | 發行人董事 | | | | | | 於本公告日期，董事會成員包括主席兼執行董事鍾慧娟女士、執行董事孫遠女士及呂愛鋒博士；及獨立非執行董事林國強先生、陳 | 免責聲明 尚偉先生及楊東濤女士。 | 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。 | 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 | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 翰森製藥集團有限公司 | | 股份代號 03692 | | | 多櫃檯股份代號及貨幣 不適用 | | | 相關股份代號及名稱 40546 | 600百萬美元於二零二六年到期的零息可換股債券 | ...

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 | | 原日期 | 重新編排日期 | | --- | --- | --- | | 為符合獲取股息分派而遞交 | 二零二五年 | 二零二五年 | | 股份過戶文件之最後時限 | 九月二十三日 | 九月二十五日 | | | 下午四時三十分 | 下午四時三十分 | | 暫停辦理股份過戶登記 | 由二零二五年九月二十 | 由二零二五年九月二十 | | 手續之日期 | 四日至二零二五年九月 | 六日至二零二五年九月 | | | 二十五日（包括首尾兩 | 二十九日（包括首尾兩 | | | 天） | 天） | | 記錄日期 | 二零二五年 | 二零二五年 | | | 九月二十五日 | 九月二十九日 | 1 除上文所披露者外，本公司確認中期股息派發日仍為二零二五年十月三十日，而 中期業績公告及中期報告所載之所有 ...

Group 1 - The Hong Kong Innovative Drug ETF (159567) closed with a gain of 1.50% on September 22, with a trading volume of 1.263 billion yuan [1] - The fund was established on January 3, 2024, with a management fee of 0.50% and a custody fee of 0.10% [1] - As of September 19, 2024, the fund's latest share count was 8.17 billion shares, with a total size of 7.676 billion yuan, reflecting a year-to-date increase of 1966.38% in shares and 1931.78% in size compared to December 31, 2023 [1] Group 2 - The current fund manager is Ma Jun, who has managed the fund since its inception, achieving a return of 87.92% during the management period [2] - The top holdings of the fund include Innovent Biologics (9.52%), WuXi Biologics (9.47%), BeiGene (8.73%), and others, with their respective market values and share counts detailed [2] - The cumulative trading amount over the last 20 trading days reached 37.235 billion yuan, with an average daily trading amount of 1.862 billion yuan [1][2]

Hansoh Pharmaceutical Group Company Limited 翰森製藥集團有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） （Stock Code 股份代號：3692） NOTIFICATION LETTER 通知信函 As a Non-registered Holder, if you wish to receive Corporate Communications of the Company in electronic form, you should liaise with your bank(s), broker(s), custodian(s), nominee(s) or HKSCC Nominees Limited through which your shares in the Company are held (collectively, the "Intermediaries") and provide your email address to y ...

Hansoh Pharmaceutical Group Company Limited 翰森製藥集團有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） (Stock Code 股份代號：3692) NOTIFICATION LETTER 通知信函 Dear Registered Shareholders. September 22, 2025 Hansoh Pharmaceutical Group Company Limited (the "Company") – Notice of publication of Interim Report 2025 (the "Current Corporate Communications") The English and Chinese versions of the Company's Current Corporate Communications are now available on the Company's website at www.hs ...

翰森製藥集團有限公司 Interim Report 2025 中期報告 目 錄 | 2 | 公司資料 | | --- | --- | | 4 | 財務摘要 | | 5 | 公司概覽 | | 8 | 管理層討論及分析 | | 23 | 企業管治及其他資料 | | 34 | 中期財務資料獨立審閱報告 | | 35 | 中期簡明綜合損益表 | | 36 | 中期簡明綜合全面收益表 | | 37 | 中期簡明綜合財務狀況表 | | 39 | 中期簡明綜合權益變動表 | | 40 | 中期簡明綜合現金流量表 | | 42 | 中期簡明綜合財務資料附註 | | 66 | 釋義 | Hansoh Pharmaceutical Group Company Limited 公司資料 董事會 執行董事 鍾慧娟女士 （主席兼首席執行官） 孫遠女士 呂愛鋒博士 獨立非執行董事 林國強先生 陳尚偉先生 楊東濤女士 審核委員會 陳尚偉先生 （主席） 林國強先生 楊東濤女士 薪酬委員會 楊東濤女士 （主席） 鍾慧娟女士 林國強先生 戰略及發展委員會 鍾慧娟女士 （主席） 呂愛鋒博士 陳尚偉先生 楊東濤女士 環境、社會及管治委員會 呂愛鋒博 ...

Core Viewpoint - The Hong Kong Innovative Drug ETF (159567) has shown significant growth in both share volume and fund size since its inception, indicating strong investor interest in the innovative drug sector [1][2]. Fund Performance - As of September 18, 2024, the fund's share volume reached 8.17 billion shares, with a total size of 7.839 billion yuan, reflecting an increase of 1966.38% in share volume and 1974.81% in size compared to its initial figures on December 31, 2023 [1]. - The fund manager, Ma Jun, has achieved a return of 90.14% since taking over management on January 3, 2024 [2]. Trading Activity - The ETF recorded a trading volume of 12.58 billion yuan on September 19, 2024, with an average daily trading amount of 18.71 billion yuan over the last 20 trading days [1]. - Year-to-date, the ETF has accumulated a total trading amount of 206.404 billion yuan over 176 trading days, averaging 11.73 billion yuan per day [1]. Top Holdings - The ETF's major holdings include: - Innovent Biologics (9.52% holding, 263 million yuan market value) - WuXi Biologics (9.47% holding, 258 million yuan market value) - BeiGene (8.73% holding, 238 million yuan market value) - CanSino Biologics (7.62% holding, 208 million yuan market value) - China National Pharmaceutical Group (7.17% holding, 196 million yuan market value) [2].

Core Insights - The article highlights the increasing prevalence of depression in China, with approximately 95 million individuals affected, leading to a booming market for antidepressant medications [5][12][18] - The demand for antidepressants has surged, with sales in public medical institutions exceeding 9.1 billion yuan in the previous year, marking a 6% year-on-year increase [5][7] - The market for antidepressants is becoming increasingly competitive, with numerous domestic pharmaceutical companies entering the space, particularly in the production of generic drugs [13][20] Market Dynamics - The rise in depression cases has created a vibrant pharmaceutical market, with companies like Hansoh Pharmaceutical and Jingwei Pharmaceutical achieving significant sales figures [7][12] - The sales of antidepressants in public hospitals have seen a drastic shift, with domestic companies gaining market share due to price reductions and increased competition [22][24] - The introduction of centralized procurement has led to a significant drop in drug prices, making antidepressants more accessible to patients [19][20][22] Industry Challenges - Despite the growing market, the high cost of psychological therapy remains a barrier for many patients, leading to a preference for medication over therapy [26][27] - The perception of antidepressants as a long-term necessity poses challenges for patient management, with many experiencing withdrawal symptoms when discontinuing medication [26][27] - The industry faces scrutiny over the quality of psychological counseling services, which can vary significantly, impacting patient experiences and outcomes [26][27]

Core Viewpoint - The Trump administration is drafting an executive order that will impose three major restrictions on commercial transactions involving Chinese innovative drug patents or rights, focusing on national security reviews by the Committee on Foreign Investment in the United States (CFIUS) [1][2]. Summary by Sections Executive Order Details - The draft includes three main provisions: 1. Inclusion of Chinese innovative drug BD transactions in the CFIUS mandatory review list, ending the previous "low-risk automatic exemption" practice [2]. 2. FDA will implement "racial sensitivity supplementary reviews" for drugs relying on Chinese clinical data, requiring at least 20% comparative data from non-Asian populations [2]. 3. Establishment of a "key drug domestic production fund" to provide production subsidies for 15 categories of drugs, including antibiotics and acetaminophen, while implementing a "domestic priority" principle in federal procurement [2]. Market Reaction - The market reacted swiftly to the policy risks, with the Hong Kong innovative drug index (HK1105) dropping 3.82% on September 11, 2025, and the A-share innovative drug sector (BK1106) declining 2.17%, with over 80% of stocks in the sector experiencing pullbacks [3]. - The following day, the indices showed signs of recovery, indicating investors' responses to policy uncertainties and rational corrections [3]. Globalization Trends - Despite the geopolitical risks, the trend of Chinese innovative drugs going global remains intact, with total license-out transactions to Europe and the U.S. reaching $9.43 billion as of September 2025 [3]. - Major transactions include a $950 million licensing deal between BeiGene and Royalty Pharma, and a $6 billion global licensing agreement between 3SBio and Pfizer, highlighting a shift towards milestone payments and regional licensing [3]. Industry Challenges - The domestic market faces challenges, with annual growth in medical insurance fund spending (approximately 12%) lagging behind the growth in innovative drug R&D investment (approximately 25%) [4]. - The average reduction in medical negotiations remains high at 54%, and commercial health insurance coverage for innovative drugs is below 15%, creating a supply-demand imbalance that necessitates going global [4]. Risk Resilience Assessment - Goldman Sachs has categorized Chinese innovative drug companies into three risk resilience tiers based on their sensitivity to policy changes and operational capabilities [4][5]. - Companies with mature global layouts exhibit the strongest resilience, while those heavily reliant on domestic markets show the weakest resilience [5][10]. Strategic Defense Framework - A three-dimensional defense system is proposed to address risks associated with the executive order, focusing on transaction review, data compliance, and supply chain security [13]. - Strategies include conducting national security risk pre-assessments for transactions over $50 million and establishing partnerships with U.S. law firms to navigate regulatory challenges [14][15]. Conclusion - The construction of a quantifiable "risk resilience index" is essential for Chinese innovative drugs in the global 2.0 era, emphasizing the need for companies to embed policy hedging clauses in transaction structures and consider racial diversity data in clinical stages [23].