证券代码：300759 证券简称：康龙化成 公告编号：2025-065 康龙化成（北京）新药技术股份有限公司 关于召开 2025 年第一次临时股东大会的通知 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 经康龙化成（北京）新药技术股份有限公司（以下简称"公司"）于 2025 年 10 月 28 日召开的第三届董事会第十六次会议审议通过，决定召开公司 2025 年第一次临时股东大会（以下简称"本次股东大会"）。现将 A 股股东参与本 次股东大会相关事项通知如下： 一、召开会议的基本情况 1、股东大会届次：2025 年第一次临时股东大会 2、股东大会的召集人：公司董事会。 3、会议召开的合法、合规性：本次股东大会的召集、召开程序符合有关法 律、行政法规、部门规章、规范性文件和《公司章程》的规定。 4、会议召开的时间： （1）现场会议召开时间：2025 年 12 月 18 日（星期四）14:30； （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时 间为 2025 年 12 月 18 日的交易时间，即 9:15-9:25，9:30-11:30 和 ...

Pharmaron Beijing Co., Ltd. 康龍化成（北京）新藥技術股份有限公司 By order of the Board Pharmaron Beijing Co., Ltd. Dr. Lou Boliang Chairman Dear Non-registered holder(1) , Pharmaron Beijing Co., Ltd. (the "Company") November 27, 2025 – Notification of publication of (1) Circular of the First Extraordinary General Meeting of 2025 and (2) Notice of the First Extraordinary General Meeting of 2025 (the "Current Corporate Communication") on the website of the Company The English version of the Company's Current Corporate Communic ...

Pharmaron Beijing Co., Ltd. 康龍化成（北京）新藥技術股份有限公司 (a joint stock company incorporated in the People's Republic of China with limited liability) （於中華人民共和國註冊成立的股份有限公司） (Stock Code 股份代號：3759) NOTIFICATION LETTER 通知信函 Dear H Shareholder, November 27, 2025 Pharmaron Beijing Co., Ltd. (the "Company") – Notification of publication of (1) Circular of the First Extraordinary General Meeting of 2025, (2) Notice of the First Extraordinary General Meeting of 2025 and (3) Form of Proxy for the First Extraordinary General M ...

（於中華人民共和國註冊成立的股份有限公司） （股份代號：3759） 2025年第一次臨時股東大會的代表委任表格 （H股股東適用） 與本代表委任表格有關的 H股股份數目 （附註1） 本人╱吾等 （附註2） 地址為 Pharmaron Beijing Co., Ltd. 康 龍 化 成（ 北 京 ）新 藥 技 術 股 份 有 限 公 司 代表本人╱吾等出席本公司於2025年12月18日（星期四）下午2時30分在中國北京市經濟技術開發區泰河路6號召開 的2025年第一次臨時股東大會（「臨時股東大會」）或其任何續會，並於會上代表本人╱吾等依照下列指示投票，如無 該等指示，則由本人╱吾等的代表酌情投票。 | | （附註A） 普通決議案 | （附註5） 同意 | （附註5） 反對 | （附註5） 棄權 | | --- | --- | --- | --- | --- | | 1. | 建議補選第三屆董事會獨立非執行董事。 | | | | | 2. | 建議修訂《關聯╱關連交易管理制度》。 | | | | | 3. | 建議修訂《對外擔保管理制度》。 | | | | | 4. | 建議修訂《獨立非執行董事工作制度》。 | | ...

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通告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本通告全部或任 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：3759） 2025年第一次臨時股東大會通告 茲通告康龍化成（北京）新藥技術股份有限公司（「本公司」）謹定於2025年12月18 日（星期四）下午2時30分在中國北京市經濟技術開發區泰河路6號召開2025年第一次臨 時股東大會（「臨時股東大會」），以審議及酌情批准以下決議案。除文義另有所指外， 本通告所用詞彙與本公司日期為2025年11月27日的通函（「通函」）所界定者具有相同涵 義。 普通決議案 特別決議案 – 1 – 1. 建議補選第三屆董事會獨立非執行董事。 2. 建議修訂《關聯╱關連交易管理制度》。 3. 建議修訂《對外擔保管理制度》。 4. 建議修訂《獨立非執行董事工作制度》。 5. 建議修訂《對外投資管理制度》。 6. 建議修訂《募集資金專項存儲及使用管理制度》。 7. 建議修訂《累積投票制實施細則》。 8. 建議修訂《股東提名個別人士為本公司董事之程序》。 9. 建議修訂《公司 ...

此乃要件 請即處理 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通函的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不對因本通函全部或任何部分內容而產生的或因依賴該等內容而引致的 任何損失承擔任何責任。 本通函僅作參考，並不構成收購、購買或認購康龍化成（北京）新藥技術股份有限公司任何證券的邀請或 要約。 閣下如對本通函任何內容或將採取的行動有任何疑問，應諮詢 閣下的股票經紀或其他註冊證券交易商、 銀行經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓名下所有的康龍化成（北京）新藥技術股份有限公司股份，應立即將本通函送交買主 或承讓人或經手買賣或轉讓的銀行、股票經紀或其他代理商，以便轉交買主或承讓人。 Pharmaron Beijing Co., Ltd. 康 龍 化 成（ 北 京 ）新 藥 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：3759） (1) 建議補選第三屆董事會獨立非執行董事； (2) 建議修訂《公司章程》； 董事會函件載於本通函第3至10頁。本公司謹訂於2025年12月18日（星期四）下午2時30分假座中國北京 市經 ...

Core Viewpoint - The acquisition plan by Kanglong Chemical (康龙化成) to purchase 82.54% of Wuxi Baiaode Bio-Science Co., Ltd. for approximately 1.346 billion yuan has raised market concerns regarding the high premium and financial pressure on the company [1][4][7]. Group 1: Acquisition Details - Kanglong Chemical aims to enhance its technological platform and implement its core strategy of "full-process, integrated, international, and multi-therapy" through this acquisition [2][8]. - The acquisition price represents a significant premium, valuing Baiaode at approximately 1.631 billion yuan, which is an increase of 168.21% over its net assets [7]. - The valuation of Baiaode has been supported by previous market financing rounds, with post-investment valuations reaching approximately 1.57 billion yuan in 2021 and 2.57 billion yuan in 2023 [7]. Group 2: Financial Performance - For the first three quarters of 2025, Kanglong Chemical reported a revenue of 10.086 billion yuan, marking a record high, but its net profit attributable to shareholders decreased by 19.76% [5][15]. - As of September 2025, the company had interest-bearing liabilities of approximately 6 billion yuan, with financial expenses exceeding 150 million yuan for the first three quarters [4][11]. Group 3: Market Reaction and Shareholder Actions - The stock price of Kanglong Chemical has seen a significant decline, closing at 29 yuan per share on November 24, 2025, down over 70% from its peak of 244.60 yuan per share in August 2021 [6][15]. - Major shareholders have been actively reducing their stakes, with significant cash-outs totaling around 12 billion yuan since 2022 [14][15].

Core Insights - The report highlights significant changes in the Hong Kong Stock Connect holdings, with notable increases and decreases in ownership percentages for various companies [1][2][3] Group 1: Increased Holdings - The companies with the largest increases in Hong Kong Stock Connect holdings include: - Hang Seng China Enterprises (02828) with an increase of 6.14%, bringing the latest holding percentage to 6.97% [2] - Tracker Fund of Hong Kong (02800) with an increase of 4.94%, resulting in a holding percentage of 7.09% [2] - Southern Hang Seng Technology (03033) with an increase of 1.25%, now holding 63.41% [2] - Over the last five trading days, the top gainers in holdings were: - Guofu Hydrogen Energy (02582) with a 9.18% increase, now at 16.55% [3] - Hang Seng China Enterprises (02828) with a 6.40% increase [3] - Tracker Fund of Hong Kong (02800) with a 6.31% increase [3] Group 2: Decreased Holdings - The companies with the largest decreases in Hong Kong Stock Connect holdings include: - Shandong Molong (00568) with a decrease of 1.52%, now at 57.43% [2] - Kintor Pharmaceutical (09939) with a decrease of 1.18%, now at 17.64% [2] - Tigermed (03347) with a decrease of 1.00%, now at 46.11% [2] - Over the last five trading days, the top decliners in holdings were: - Shandong Molong (00568) with a 3.24% decrease [3] - Kintor Pharmaceutical (09939) with a 1.18% decrease [3] - Tigermed (03347) with a 1.39% decrease [3] Group 3: Long-term Trends - Over the last 20 trading days, the companies with the largest increases in holdings included: - Haotian International Construction Investment (01341) with a 17.61% increase, now at 68.76% [4] - Qingdao Bank (03866) with an 11.32% increase, now at 18.70% [4] - Guofu Hydrogen Energy (02582) with a 10.61% increase [4] - The companies with the largest decreases in holdings over the last 20 trading days included: - Xintian Green Energy (00956) with an 8.04% decrease, now at 57.35% [4] - Zhongze Feng (01282) with a 7.51% decrease, now at 8.56% [4] - Delin Holdings (01709) with a 4.52% decrease, now at 30.02% [4]

Core Viewpoint - The acquisition plan by Kanglong Chemical (康龙化成) to purchase 82.54% of Wuxi Baiaode Biological Science Co., Ltd. for approximately 1.346 billion yuan has raised market skepticism due to financial pressures and high premium valuation [1][3]. Group 1: Acquisition Details - Kanglong Chemical plans to acquire 82.54% of Baiaode for 1.346 billion yuan, aiming to enhance its "full-process, integrated, international, and multi-therapy" strategy [1][3]. - The acquisition price reflects a significant premium, valuing Baiaode at approximately 1.631 billion yuan, which is a 168.21% increase over its net assets [3]. - The valuation of Baiaode at 1.5 billion yuan was deemed reasonable by Kanglong, supported by previous market financing rounds [3]. Group 2: Financial Performance - As of September 2025, Kanglong Chemical reported total liabilities of approximately 6 billion yuan and financial expenses of 153 million yuan for the first three quarters of 2025 [2][7]. - The company achieved a record revenue of 10.086 billion yuan in the first three quarters of 2025, but its net profit decreased by 19.76% year-on-year [2][11]. Group 3: Market Reactions and Concerns - The acquisition has raised concerns about related party transactions, as approximately 500 million yuan will be cashed out by related parties through this deal [2][8]. - Kanglong's stock price has significantly declined, dropping over 70% from its peak in August 2021, closing at 29 yuan per share on November 24, 2025 [2][11]. - There has been a notable trend of major shareholders reducing their stakes, with significant cash-outs totaling around 12 billion yuan since 2022 [10][11].

Group 1 - CRO concept stocks have collectively rebounded, indicating a positive trend in the sector [1] - Tigermed (03347.HK) increased by 9.19%, reaching HKD 39.92 [1] - WuXi AppTec (02359.HK) rose by 4.43%, trading at HKD 106 [1] - Kanglong Chemical (03759.HK) saw a 4.15% increase, priced at HKD 21.58 [1] - WuXi Biologics (02269.HK) experienced a 3.27% rise, with a price of HKD 31.56 [1]