Pharmaron Beijing Co., Ltd. 康 龍 化 成（ 北 京 ）新 藥 技 術 股 份 有 限 公 司 香港交易及結算所有限公司、香港聯合交易所有限公司（「聯交所」）及香港中央結算有限公司 （「香港結算」）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依賴該等內容而引致的任何損失承擔任何責 任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3759） 海外監管公告 本公告乃康龍化成（北京）新藥技術股份有限公司（「本公司」）根據香港聯合交易所 有限公司證券上市規則第13.10B條作出。 茲載列本公司於深圳證券交易所網站刊登公告如下，僅供參閱。 承董事會命 康龍化成（北京）新藥技術股份有限公司 主席 樓柏良博士 中華人民共和國，北京 2026年1月27日 於本公告日期，董事會包括執行董事樓柏良博士、樓小強先生及鄭北女士；職工 代表董事李承宗先生；非執行董事李家慶先生及萬璇女士；獨立非執行董事李麗 華女士、曾勁峰教授及余堅先生。 证券代码：300759 证券简称：康龙化成 公告编号：2026-008 康龙化成(北京) ...

康龙化成(北京)新药技术股份有限公司 关于 2022 年 A 股限制性股票激励计划 第三个归属期归属结果暨股份上市的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示： 证券代码：300759 证券简称：康龙化成 公告编号：2026-009 1、本次归属股票数量及归属人数：本次归属限制性股票的激励对象共计 276 名，归属限制性股票数量合计 565,698 股，占公司目前总股本的 0.0308%； 2、本次限制性股票归属上市流通时间为 2026 年 1 月 29 日。 康龙化成（北京）新药技术股份有限公司（以下简称"公司"或"本公司"） 于 2025 年 8 月 21 日召开的第三届董事会第十五次会议、第三届监事会第十三次 会议，审议通过了《关于 2022 年 A 股限制性股票激励计划第三个归属期归属条 件成就但股票暂不上市的议案》。近日公司办理了 2022 年 A 股限制性股票激励 计划（以下简称"本次激励计划"）第三个归属期归属股份的登记工作，现将有 关事项说明如下： 一、本次激励计划实施情况概要 （一）本次激励计划简述 1、授予限制性股票 ...

证券代码：300759 证券简称：康龙化成 公告编号：2026-008 康龙化成(北京)新药技术股份有限公司 关于 2021 年 A 股限制性股票激励计划 第四个归属期归属结果暨股份上市的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示： 1、本次归属股票数量及归属人数：本次归属限制性股票的激励对象共计 44 名，归属限制性股票数量合计 81,643 股，占公司目前总股本的 0.0044%； 一、本次激励计划实施情况概要 （一）本次激励计划简述 1、授予限制性股票的股票来源及授予数量 本次激励计划的标的股票来源为公司向激励对象定向发行的本公司人民币 A 股普通股股票。 2、本次限制性股票归属上市流通时间为 2026 年 1 月 29 日。 康龙化成（北京）新药技术股份有限公司（以下简称"公司"或"本公司"） 于 2025 年 8 月 21 日召开的第三届董事会第十五次会议、第三届监事会第十三次 会议，审议通过了《关于 2021 年 A 股限制性股票激励计划第四个归属期归属条 件成就但股票暂不上市的议案》。近日公司办理了 2021 年 A 股限 ...

Group 1 - The core viewpoint of the news highlights the performance of the China Medical and Medical Device Innovation Index, with notable stock movements, including a leading increase of 8.29% by Sangfor Technologies [1] - The Medical Innovation ETF has seen continuous net inflows over the past week, with a maximum single-day net inflow of 40.537 million yuan, totaling 114 million yuan [1] - A significant research breakthrough was reported regarding the oral nucleoside drug VV116, which shows promising antiviral activity against the Nipah virus, providing a potential treatment option for high-risk populations [1] Group 2 - Guosen Securities noted that the innovative drug sector exhibited significant excess returns in 2025, driven by international business development, continuous positive clinical data, and supportive policies [2] - The Medical Innovation ETF closely tracks the China Medical and Medical Device Innovation Index, which selects 30 profitable and growth-oriented companies to reflect the overall performance of the sector [2] - As of December 31, 2025, the top ten weighted stocks in the index include WuXi AppTec, Heng Rui Medicine, and Mindray Medical, collectively accounting for 63.75% of the index [2]

格隆汇1月27日丨根据联交所最新权益披露资料显示，2026年1月22日，康龙化成(03759.HK)获Norges Bank在场内以每股均价22.82港元增持1025万股，涉资 约2339.05万港元。 | 表格序號 | 大股東/董事/最高行政人員名稱作出披露的 買入 / 賣出或涉及的 每般的平均價 | | | | 持有權益的股份數目 佔已發行的 有關事件的日期 | | | --- | --- | --- | --- | --- | --- | --- | | | | 原因 | 股份數目 | | (請參閱上述 * 註 | 有投票權股 (日 / 月 / 年) | | | | | | | | 份自分比 | | CS20260123E00561 | Norges Bank 10.250.000(L | 1001(L) | | HKD 22.8200 | 21.474.224(L) | 6.09(L)22/01/2026 | 增持后，Norges Bank最新持股数目为2147.422万股，持股比例由3.81%上升至6.09%。 ...

智通财经APP获悉，香港联交所最新资料显示，1月22日，Norges Bank增持康龙化成(03759)1025万股， 每股作价22.82港元，总金额约为2.34亿港元。增持后最新持股数目约为2147.42万股，最新持股比例为 6.09%。 ...

香港联交所最新资料显示，1月22日，Norges Bank增持康龙化成（300759）(03759)1025万股，每股作价 22.82港元，总金额约为2.34亿港元。增持后最新持股数目约为2147.42万股，最新持股比例为6.09%。 ...

Core Viewpoint - Kanglong Chemical has established itself as a leading CXO enterprise in China, providing comprehensive drug development services and is well-positioned to benefit from the growing global demand for pharmaceutical R&D outsourcing. The company is rated "Buy" with a target price of 38.08 RMB [1][3]. Group 1: Business Model and Competitive Advantage - Kanglong Chemical is one of the top two companies in China's drug discovery and preclinical CRO services, having strategically expanded into small molecule CDMO, clinical development, and large molecule and cell and gene therapy (CGT) fields, creating a one-stop CXO platform that reduces operational risks, time delays, and cost losses for clients [1]. - The one-stop CXO platform is expected to maintain a significant competitive advantage in the global market as biopharmaceutical companies increasingly prioritize R&D efficiency, speed, and reliability [1]. Group 2: Business Segment Performance - Laboratory services are the foundation of the company's long-term growth, with new orders expected to grow over 15% year-on-year in 2024, continuing a similar growth trend in the first three quarters of 2025 [2]. - The small molecule CDMO segment is highly synergistic with laboratory services, with new orders projected to grow over 35% year-on-year in 2024 and approximately 20% in the first three quarters of 2025, making it the fastest-growing business segment [2]. - Clinical research services have been integrating global clinical teams since 2021, with significant room for improvement in operational efficiency as current revenue per employee and gross margin are below industry levels [2]. - The large molecule and CGT segments are expected to provide business diversification and high-value growth in the medium to long term, driven by the rising demand for complex molecular therapies [2]. Group 3: Industry Trends and Financial Outlook - Kanglong Chemical's business performance is closely tied to macro trends in the global life sciences industry, with a notable recovery in global innovative drug R&D demand observed in the second half of 2025, including a 22.5% year-on-year increase in global innovative drug financing and a staggering 215.4% increase in China [3]. - The top 10 global pharmaceutical companies reported a 5.3% year-on-year increase in R&D spending in the first half of 2025, indicating a return to positive growth and stabilizing R&D expenditures among leading biotech companies, which strengthens the demand foundation for the CXO industry [3]. - Revenue projections for Kanglong Chemical are expected to grow by 14.2%, 14.8%, and 16.3% year-on-year for 2025, 2026, and 2027 respectively, with non-IFRS net profit growth of 12.3%, 17.8%, and 18.7% [3].

Group 1 - The core viewpoint of the news highlights the performance of the medical innovation sector, with the China Securities Medical and Medical Device Innovation Index (931484) rising by 0.51% and notable increases in constituent stocks such as Ganli Pharmaceutical (3.05%) and Zhejiang Pharmaceutical (2.29%) [1] - The Medical Innovation ETF (516820) has seen a net inflow of funds over the past five days, with a peak single-day net inflow of 40.537 million yuan, totaling 62.4623 million yuan, averaging a daily net inflow of 12.4925 million yuan [1] - Baichuan Intelligent has launched the Baichuan-M3 Plus evidence-enhanced medical model, achieving a hallucination rate of 2.6%, the lowest globally, and introduced the "Evidence Anchoring" technology to provide citation sources for medical conclusions [1] Group 2 - Everbright Securities emphasizes that the AI+ healthcare sector should focus on several core areas: AI drug development, AI medical imaging, AI chronic disease management, and AI surgical robots, highlighting the strong willingness of pharmaceutical companies to invest in AI drug development due to its potential to significantly shorten drug development cycles [2] - The China Securities Medical and Medical Device Innovation Index selects 30 publicly listed companies with good profitability and growth potential from the pharmaceutical and healthcare sector, reflecting the overall performance of profitable and growth-oriented companies [2] - As of December 31, 2025, the top ten weighted stocks in the index include WuXi AppTec, Hengrui Medicine, Mindray Medical, and others, accounting for 63.75% of the total index weight [2]

Investment Rating - The report initiates coverage on 康龙化成 with a "Buy" rating and a target price of 38.08 RMB, indicating a potential upside of 21.7% from the current price of 31.30 RMB [1][3]. Core Insights - 康龙化成 is recognized as a leading integrated CXO company in China, established in 2004, providing comprehensive services throughout the drug development lifecycle. The company is expected to benefit from the growing global demand for pharmaceutical R&D outsourcing [1][7]. - The report highlights the company's strategic expansion into various sectors, including small molecule CDMO, clinical development, and large molecule & cell and gene therapy (CGT), which positions 康龙化成 as a competitive player in the global market [7]. - The company is projected to achieve revenue growth rates of 14.2%, 14.8%, and 16.3% for FY25E, FY26E, and FY27E, respectively, with adjusted net profit growth rates of 12.3%, 17.8%, and 18.7% for the same periods [7][11]. Financial Summary - For FY23A, 康龙化成 reported sales revenue of 11,538 million RMB, with a year-on-year growth of 12.4%. The adjusted net profit for the same period was 1,903 million RMB, reflecting a growth of 3.8% [2][11]. - The company’s sales revenue is expected to reach 14,022 million RMB in FY25E, with a projected growth of 14.2% year-on-year [2][11]. - The adjusted net profit is forecasted to be 1,804 million RMB in FY25E, with a year-on-year increase of 12.3% [2][11]. Shareholder Structure - The shareholder structure indicates that 19.3% of the shares are held by Hong Kong investors, while the actual controller holds 17.7% [4]. Stock Performance - The stock has shown a 1-month absolute return of 8.6% and a 6-month return of 15.1%, indicating positive market sentiment [5].