Core Viewpoint - Hansoh Pharmaceutical (03692.HK) demonstrated strong performance in its 2025 interim results, showcasing growth driven by innovation and global strategies, with revenue reaching approximately 7.434 billion RMB, a year-on-year increase of about 14.3% [1] Financial Performance - The company reported a profit of approximately 3.135 billion RMB, reflecting a year-on-year growth of about 15.0% [1] - Basic earnings per share were approximately 0.53 RMB, up by about 14.8% year-on-year, with an interim dividend of 0.2316 HKD per share [1] - Operating cash flow for the first half of 2025 was 3.605 billion RMB, with cash and bank deposits totaling 27.104 billion RMB as of June 30, 2025, indicating a solid financial position [1] Revenue Breakdown - Sales revenue from innovative drugs and collaborative products reached approximately 6.145 billion RMB, a year-on-year increase of about 22.1%, accounting for 82.7% of total revenue [1] - Revenue from specific therapeutic areas included approximately 4.531 billion RMB from oncology, 735 million RMB from anti-infection, 768 million RMB from central nervous system, and 1.4 billion RMB from metabolic and other diseases, representing 60.9%, 9.9%, 10.4%, and 18.8% of total revenue respectively [1] R&D Investment - R&D expenditure for the first half of 2025 was approximately 1.441 billion RMB, a year-on-year increase of 20.4%, constituting 19.4% of total revenue [2] - The company is advancing over 70 clinical trials across more than 40 innovative drug projects, with 8 new candidates entering clinical research in the first half of 2025 [2] Key Product Developments - In the first half of 2025, the company initiated 3 new Phase III pivotal registration clinical trials for innovative drugs targeting B7-H3 ADC for bone and soft tissue sarcoma, B7-H4 ADC for ovarian cancer, and an IL23p19 monoclonal antibody for moderate to severe plaque psoriasis [3] - The GLP-1/GIP dual receptor agonist HS-20094 is in Phase III clinical research for obesity or overweight, with over 1,000 subjects dosed [3] Strategic Partnerships - In June 2025, the company granted Regeneron global exclusive rights to the GLP-1/GIP dual receptor agonist HS-20094 (excluding mainland China, Hong Kong, and Macau), receiving an upfront payment of 80 million USD and potential milestone payments up to 1.93 billion USD, along with double-digit royalties on future product sales [4] - The company is actively pursuing global licensing opportunities to accelerate the commercialization of its innovative pipeline, enhancing the commercial value of its products [4]

截至2025年6月，公司共计拥有7款创新药上市销售。其中，阿美乐®(中国首个原研三代EGFR-TKI)今年 在英国成功获批上市，成为公司首个在海外上市的创新药。 翰森制药始终将研发创新视为企业发展的核心驱动力，持续加大研发投入。2025上半年，公司研发开支 约14.41亿元，同比增长20.4%，占总收入19.4%。目前，公司正在推进超70项创新药临床试验，分属40 余个创新药项目，上半年新增8项进入临床研究阶段的候选创新药，持续扩大在肿瘤领域的领导地位， 加速深化布局抗感染、中枢神经系统、代谢及自免等非肿瘤领域。 8月18日，翰森制药(03692.HK)发布2025上半年业绩报告，展现出公司在创新与全球化战略下的卓越成 果与稳健上升发展态势。报告期内，翰森制药实现收入约74.34亿元人民币(单位下同)，同比增长约 14.3%；溢利约31.35亿元，同比增长约15.0%。每股基本盈利约0.53元，同比增长约14.8%，派发中期股 息每股23.16港仙，彰显了公司良好的盈利能力及对股东的丰厚回报。 得益于创新产品持续放量及全球合作稳步推进，2025上半年，翰森制药创新药与合作产品销售收入约 61.45亿元，同比增 ...

翰森制药(03692)发布截至2025年6月30日止6个月的中期业绩，该集团取得收入人民币74.34亿元(单位下 同)，同比增加14.27%;母公司拥有人应占溢利31.35亿元，同比增加15.02%;每股盈利0.53元，拟派发中 期股息每股23.16港仙。 公司在中国产生销售收入的创新药共七款，形成了丰富的产品管线。截至2025年6月30日止6个月，创新 药与合作产品销售收入约61.45亿元，占收入比例约82.7%，已成为驱动本集团业绩可持续增长的核心动 力。 我们的收入主要来自于药品的销售。我们的主要产品集中在本集团策略性专注的主要治疗领域，包括抗 肿瘤、抗感染、中枢神经系统、代谢及其他疾病。报告期内的收入、溢利及每股基本盈利增加，主要是 由于创新药与合作产品销售收入增加所致。 ...

Core Insights - Hansoh Pharmaceutical (3692.HK) reported total revenue of approximately 7.434 billion RMB for the first half of 2025, representing a year-on-year growth of about 14.3% [1] - The company's profit reached approximately 3.135 billion RMB, with a year-on-year increase of about 15.0% [1] - Basic earnings per share were approximately 0.53 RMB, reflecting a year-on-year growth of about 14.8%, and an interim dividend of 0.2316 HKD per share was declared, showcasing strong profitability and shareholder returns [1] Revenue Breakdown - Sales revenue from innovative drugs and collaborative products amounted to approximately 6.145 billion RMB, marking a year-on-year growth of about 22.1% and accounting for 82.7% of total revenue [1] Financial Performance - The net cash inflow from operating activities for the first half of 2025 was 3.605 billion RMB [1] - As of June 30, 2025, the company had cash and bank deposits totaling 27.104 billion RMB, indicating a robust financial position and strong cash flow to support future innovation and R&D investments [1]

公司在中国产生销售收入的创新药共七款，形成了丰富的产品管线。截至2025年6月30日止6个月，创新 药与合作产品销售收入约61.45亿元，占收入比例约82.7%，已成为驱动本集团业绩可持续增长的核心动 力。 我们的收入主要来自于药品的销售。我们的主要产品集中在本集团策略性专注的主要治疗领域，包括抗 肿瘤、抗感染、中枢神经系统、代谢及其他疾病。报告期内的收入、溢利及每股基本盈利增加，主要是 由于创新药与合作产品销售收入增加所致。 翰森制药(03692)发布截至2025年6月30日止6个月的中期业绩，该集团取得收入人民币74.34亿元(单位下 同)，同比增加14.27%;母公司拥有人应占溢利31.35亿元，同比增加15.02%;每股盈利0.53元，拟派发中 期股息每股23.16港仙。 ...

智通财经APP讯，翰森制药(03692)公布，将于2025年10月30日派发中期股息每股0.2316港元。 ...

EF001 免責聲明 第 2 頁 共 2 頁 v 1.1.1 | 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，概不對因 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。 | | | --- | --- | | 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 600百萬美元於二零二六年到期的零息可換股債券 | 40546 | | 公告標題 | 截至二零二五年六月三十日止六個月之中期股息 | | 公告日期 | 2025年8月18日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年6月30日 | | 宣派股息 | 每 股 0.2316 HKD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額 ...

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。 截至二零二五年六月三十日止六個月的中期業績公告 翰森製藥集團有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司 及其附屬公司（統稱「本集團」）截至二零二五年六月三十日止六個月（「報告期」） 的未經審核中期業績連同二零二四年相應期間的比較數字。 於本公告中，「我們」指本公司及本集團（視乎文義所指）。 財務摘要 截至二零二五年六月三十日止六個月，本集團錄得以下未經審核的業績： 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） （股份代號：3692） 報告期內的收入、溢利及每股基本盈利增加，主要是由於創新藥與合作產品銷 售收入增加所致。 董事會宣佈派發截至二零二五年六月三十日止六個月的中期股息每股二十三點 一六港仙。 1 • 收入約人民幣七十四點三四億元，較上年同期增長約百分之十四點三； • 創新藥與 ...

Market Overview - US stock market showed mixed performance last Friday, with economic data presenting a varied outlook and market sentiment being cautious ahead of the US-Russia leaders' meeting [2] - The three major indices closed with differing results, while the US dollar declined and the yield on the 10-year Treasury note rose to 4.32% [2] Asian Market Performance - The Hang Seng Index opened higher today, up 0.09% at 25,293.34 points, while the Hang Seng Tech Index increased by 0.40% and the National Enterprises Index rose by 0.21% [2][3] - In the market, tech stocks showed mixed results, with Bilibili rising over 2%, JD.com and Baidu up over 1%, while Lenovo fell nearly 1% [2] - Chinese stocks generally saw gains, with Guolian Minsheng rising over 2% [2] - The innovative drug sector opened mostly higher, with Hansoh Pharmaceutical increasing over 2% [2] - Gold stocks were active, with China Gold International rising over 1% [2] - Some automotive stocks also saw increases, with NIO rising over 5% [2]

Summary of Key Points from the Conference Call on China Healthcare Industry Overview - The conference focused on the **China Healthcare** sector, particularly the pharmaceutical and biotech industries, highlighting the attractive investment landscape in the Asia Pacific region [2][5][6]. Core Insights and Arguments - **Growth Projections**: The global pharmaceutical market is expected to grow at a **CAGR of 5.7%** from 2023 to 2028, while the Chinese pharmaceutical market is projected to grow at a **CAGR of 7.7%** during the same period [9][12]. - **Market Dynamics**: The Chinese pharmaceutical market is characterized by a significant reliance on imported products, particularly in the albumin segment, where **60-70%** of the market is composed of imports [34]. - **Out-licensing Trends**: There has been a notable increase in out-licensing activities, with over **$50 billion** in deals recorded in 2024, driven by narrowing innovation gaps and emerging complex modalities [41][42]. - **Regulatory Environment**: The plasma industry in China faces high entry barriers, with only **<30 plasma fractionators** currently operating, leading to a market consolidation trend [33][34]. Important Developments - **Upcoming Events**: Key sector events include the **CSCO 2025** and **WCLC 2025** conferences, which are expected to influence stock performance in the pharmaceutical and biotech sectors [6][8]. - **Pipeline Assets**: Several companies, including Hengrui and CSPC, have significant pipeline assets with upcoming drug approvals and trial progress expected in **2H25** [32][27]. Potential Risks and Challenges - **Supply Constraints**: The Chinese plasma market is underdeveloped compared to global standards, with a limited variety of plasma derivatives available [34]. - **Market Competition**: The top five plasma companies dominate approximately **60%** of the market, indicating a highly consolidated competitive landscape [33]. Additional Insights - **Investment Sentiment**: The overall sentiment towards the China healthcare sector remains positive, with analysts highlighting the potential for significant returns driven by innovation and market expansion [2][41]. - **Technological Advancements**: The introduction of recombinant human albumin (rHSA) is expected to disrupt the albumin market, potentially capturing **~10%** of the total market share [35]. This summary encapsulates the key points discussed during the conference call, providing a comprehensive overview of the current state and future outlook of the China healthcare sector.