Market Overview - The Hang Seng Index (HSI) closed at 25,176 points, down 93 points or 0.4% after reaching a high of 25,466 points earlier in the day[1] - The total market turnover was HKD 312.78 billion, the highest level since July 31[1] - Northbound trading totaled HKD 181.83 billion, while southbound funds saw a net inflow of HKD 1.39 billion, a significant drop of 96% from last Friday's net inflow of HKD 35.88 billion[1] A-Shares Performance - The Shanghai Composite Index rose 31 points or 0.9% to close at 3,728 points, with a peak of 3,745 points, marking a nearly ten-year high[2] - The Shenzhen Component Index increased by 200 points or 1.7%, closing at 11,835 points, with a turnover of CNY 1.63 trillion[2] - The ChiNext Index gained 71 points or 2.8%, closing at 2,606 points, with a turnover of CNY 829.6 billion[2] Corporate Earnings Highlights - Wu Jinzi, the founder of WuXi AppTec (02268.HK), reported a revenue of CNY 2.701 billion for the six months ending June, a year-on-year increase of 62.2%[3] - The net profit for WuXi AppTec was CNY 746 million, up 52.7%, with earnings per share of CNY 0.62[3] - Genscript Biotech (01672.HK) announced a placement of 52.4 million shares at HKD 16.45, a discount of approximately 9.9% from the closing price[4] - Hansoh Pharmaceutical (03692.HK) reported a revenue of CNY 7.434 billion, a year-on-year increase of 14.3%, with a net profit of CNY 3.134 billion, up 15%[4] - Li Auto (09863.HK) achieved a revenue of CNY 24.25 billion, a year-on-year increase of 174.1%, turning a profit of CNY 33.03 million compared to a loss of CNY 2.212 billion in the previous year[5]

Group 1 - The core viewpoint of the announcement is that 联邦制药 expects a net profit of approximately RMB 1.85 billion for the six months ending June 30, 2025, compared to RMB 1.49 billion for the same period in 2024, indicating a significant increase in profitability [1][3] - The increase in net profit is primarily attributed to licensing fee income from Novo Nordisk, amounting to approximately RMB 1.1 billion [3] - However, there was a decline in segment profits from intermediates by approximately RMB 430 million and from active pharmaceutical ingredients by approximately RMB 270 million, which partially offset the profit increase [3] Group 2 - The interim results are not yet finalized and are based on preliminary reviews of management accounts and other available information, which may be subject to adjustments and final confirmation [3] - The company is primarily engaged in the research, development, production, and sales of pharmaceuticals [3]

Core Viewpoint - Federal Pharmaceutical (03933) shares rose over 8% following a profit alert, with a current price of HKD 17.62 and a trading volume of HKD 598 million [1] Financial Performance - The company expects a net profit of approximately RMB 1.85 billion for the six months ending June 30, 2025, compared to a net profit of approximately RMB 1.491 billion for the six months ending June 30, 2024 [1] - The increase in net profit is primarily attributed to licensing fee income from Novo Nordisk A/S, amounting to approximately RMB 1.1 billion [1] Segment Performance - Despite the overall profit increase, the profit from the intermediates segment decreased by approximately RMB 430 million compared to the same period in 2024 [1] - The profit from the raw materials segment also saw a decline of approximately RMB 270 million, partially offsetting the growth in net profit [1]

Core Viewpoint - Federal Pharmaceutical (03933) shares rose over 8% following a positive earnings forecast, with a current price of HKD 17.62 and a trading volume of HKD 598 million [1] Financial Performance - The company anticipates a net profit of approximately RMB 1.85 billion for the six months ending June 30, 2025, compared to a net profit of about RMB 1.491 billion for the same period ending June 30, 2024 [1] - The increase in net profit is primarily attributed to licensing fee income from Novo Nordisk, amounting to approximately RMB 1.1 billion [1] Segment Performance - Despite the overall profit increase, the intermediate product segment's profit decreased by approximately RMB 430 million, and the raw material drug segment's profit declined by about RMB 270 million, partially offsetting the growth [1]

Core Viewpoint - The company expects a net profit of approximately RMB 1.85 billion for the six months ending June 30, 2025, compared to RMB 1.491 billion for the same period in 2024, indicating a significant increase in profitability driven by licensing fee income from Novo Nordisk [1] Financial Performance - The anticipated net profit increase is primarily attributed to licensing fee income of approximately RMB 1.1 billion from Novo Nordisk [1] - However, there is a decline in segment profits, with intermediate products decreasing by approximately RMB 430 million and raw materials decreasing by approximately RMB 270 million compared to the same period in 2024, partially offsetting the overall profit growth [1]

Core Viewpoint - The company expects a net profit of approximately RMB 1,850,000,000 for the six months ending June 30, 2025, an increase from RMB 1,491,000,000 in the same period last year, primarily driven by licensing fee income from Novo Nordisk A/S [1] Financial Performance - The increase in net profit is mainly attributed to licensing fee income of approximately RMB 1,100,000,000 from Novo Nordisk A/S [1] - However, there was a decline in segment profits for intermediates by approximately RMB 430,000,000 and for active pharmaceutical ingredients by approximately RMB 270,000,000, which partially offset the overall profit increase [1]

Core Viewpoint - The company expects a net profit of approximately RMB 1.85 billion for the six months ending June 30, 2025, compared to a net profit of approximately RMB 1.491 billion for the six months ending June 30, 2024, indicating a significant increase in profitability driven by licensing fee income from Novo Nordisk [1] Financial Performance - The anticipated net profit for the first half of 2025 is RMB 1.85 billion, which represents an increase from the RMB 1.491 billion net profit reported for the same period in 2024 [1] - The increase in net profit is primarily attributed to licensing fee income of approximately RMB 1.1 billion from Novo Nordisk [1] - However, there is a decline in segment profits, with intermediate products experiencing a decrease of approximately RMB 430 million and raw materials seeing a decline of approximately RMB 270 million, partially offsetting the overall profit growth [1]

The United Laboratories International Holdings Limited 聯邦制藥國際控股有限公司 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。 本公告載述的資料僅為本公司管理層現時所得的資料。本集團截至二零二五年六月三十 日止六個月的業績尚未落實，亦未經本公司審核委員會及核數師審閱。本集團截至二零 二五年六月三十日止六個月的最終業績可能與本公告所披露的資料有所不同。 ( 於開曼群島註冊成立的有限公司 ) (股份代號 : 3933) 正面盈利提示 茲根據證券及期貨條例第 XIVA 部及香港聯合交易所有限公司證券上市規則第 13.09 條發 出本公告。 聯邦制藥國際控股有限公司（「本公司」）董事會（「董事會」）謹此知會本公司股東 及潛在投資者，根據本公司及其附屬公司（「本集團」）截至二零二五年六月三十日止 六個月按香港財務報告準則編製的未經審核綜合管理帳目，預期本集團截至二零二五年 六月三十日止六個月的淨溢利約為人 ...

Group 1 - The Hong Kong stock market experienced a rise and then a pullback, with the Hang Seng Index reaching a new high [1] - The National Healthcare Security Administration is publishing a list of drugs that have passed preliminary review for the "2025 National Medical Insurance Directory and Commercial Insurance Innovative Drug Directory," which will enter expert review and negotiation stages [1][2] - The Hong Kong Innovative Drug Selected ETF (520690) saw a nearly 2.5% increase, with a trading volume exceeding 20 million and a turnover rate over 5%, indicating strong market interest [1] Group 2 - The dual-track policy of basic medical insurance and commercial insurance for innovative drugs signals a payment closure model, suggesting that "true innovation is easier to scale" [2] - The performance of innovative drugs is expected to be positively impacted by the dual-track payment system and significant business development opportunities, leading to a systematic revaluation of the Chinese innovative drug sector [2] - The Hang Seng Medical ETF (513060) is benefiting from the dual advantages of technology penetration and market expansion, particularly in AI healthcare and innovative drug companies [3]

格隆汇8月14日丨联邦制药(03933.HK)公告，董事会将于2025年8月28日(星期四)举行会议，其中包括考 虑及批准公司及其附属公司截至2025年6月30日止6个月的中期业绩，及宣派中期股息(如有)。 ...