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。 JOINN LABORATORIES (CHINA) CO., LTD. 北京昭衍新藥研究中心股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：6127） 於 本 公 告 日 期，董 事 會 包 括 主 席 兼 執 行 董 事 馮 宇 霞 女 士、執 行 董 事 高 大 鵬 先 生、孫 雲 霞 女 士、羅 樨 女 士 及 顧 靜 良 先 生，及 獨 立 非 執 行 董 事 張 帆 先 生、楊 福 全 先 生、陽 昌 雲 先 生 及 應 放 天 先 生。 有關分配現金股息之 澄清公告 茲提述北京昭衍新藥研究中心股份有限公司（「本公司」）截 至2024年12月31日 止 年度之年報（「年 報」）、日 期 為2025年5月27日 之2024年股東週年大會之通函（「通 函」）及日期為2025年6 ...

Group 1 - The A-share pharmaceutical sector experienced a strong upward trend in early trading, with significant gains in concepts such as CRO, recombinant proteins, and innovative drugs [1] - Companies like Medisi saw an increase of over 16%, while Bid Pharma rose more than 7%, with other stocks like Zhaoyan New Drug, Sunshine Nuohuo, and Nossger also following suit [1] - The National Development and Reform Commission announced that since the 14th Five-Year Plan, 402 new drugs have been added to the national medical insurance drug list [1]

港股创新药板块持续拉升，昭衍新药（603127）涨超8%，绿叶制药涨超7%，泰格医药（300347）、君 实生物、中国生物制药跟涨。 ...

Group 1 - The Hang Seng Index rose by 0.78%, gaining 185 points to close at 24,073 points, while the Hang Seng Tech Index increased by 1.29% [1] - The trading volume in Hong Kong reached HKD 117.2 billion in the morning session [1] - Stablecoin-related stocks surged, with Guotai Junan International rising by 16%, Multi-Point Smart increasing by 8%, and OSL Group also up by 8% [1] Group 2 - Jinyong Investment experienced a 150% surge due to a strategic partnership with AnchorX to explore stablecoin applications [2] - Kuaishou-W saw a 3% increase, with institutions expecting the company's Q2 performance to meet market expectations [2] - Gold stocks rebounded in the morning session, with Tongguan Gold rising by 6% and China Gold International increasing by 3.82% [2] Group 3 - Huitongda Network rose over 7% after applying for full circulation of H-shares, which is expected to enhance stock liquidity and investment attractiveness [3] Group 4 - Basestone Pharmaceuticals-B increased by over 4% after granting commercialization rights for Sugli to Gentili in Western Europe and the UK [4] Group 5 - GCL-Poly Energy rose over 9%, with the polysilicon segment potentially becoming a breakthrough point for reversing internal competition, and the company is expected to achieve profitability [5] Group 6 - China Rare Earth Holdings rose over 7% after a failed transaction involving the sale of an Australian gold mine, and plans to spin off its business through an introduction [6] Group 7 - Hon Teng Precision rose by 8.8%, driven by strong performance in AI servers and iPhone business, with Foxconn showing steady growth in Q2 [7] Group 8 - Zhaoyan New Drug increased by over 10%, assisting in the approval of the restructuring of human coagulation factor VIIa for Chengdu Tianqing [8] Group 9 - Steel stocks saw a midday rally, with Chongqing Steel rising by 11%, as institutions expect improvements in industry supply and demand [9]

Group 1 - The stock price of Zhaoyan New Drug (603127) increased by 16.95% this week, closing at 22.36 yuan, with a weekly high of 22.76 yuan and a low of 18.92 yuan [1] - Zhaoyan New Drug's current total market capitalization is 16.758 billion yuan, ranking 9th in the medical services sector and 950th among all A-shares [1] Group 2 - Zhaoyan New Drug announced its plan to invest up to 20 million yuan in the Huaxia Zhiyuan Venture Capital Fund, which has a target fundraising scale of 35 million yuan [2][4] - The fund will focus on equity investments in unlisted companies related to molecular diagnostics and targeted therapy, with a management fee of 1% per year based on the total capital contributions [2] - As of June 30, 2025, the legal registered capital of Zhaoyan New Drug's H-shares and A-shares remains unchanged at 118,995,206 shares and 630,482,128 shares, respectively [3][4]

| FF301 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | | | | | | | | 截至月份: 2025年6月30日 | | | | | | | | 狀態: 新提交 | | 致：香港交易及結算所有限公司 | | | | | | | | | | 公司名稱: 北京昭衍新藥研究中心股份有限公司 | | | | | | | | | | 呈交日期: 2025年7月4日 | | | | | | | | | | I. 法定/註冊股本變動 | | | | | | | | | | (如上市) 06127 證券代號 說明 | | | | | | | | | | 法定/註冊股份數目 | | | | 面值 | | | | 法定/ | | 註冊股本 | | | | | | | | | | 上月底結存 118,995,206 RMB | | | | | | 1 | | | | RMB 118,995,206 | | | | | | | ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年6月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 北京昭衍新藥研究中心股份有限公司 呈交日期: 2025年7月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06127 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 118,995,206 | RMB | | 1 | RMB | | 118,995,206 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 118,995,206 | RMB | | 1 | RMB | | 118,995,206 | | 2. 股份分類 ...

Group 1 - The stock price of Zhaoyan New Drug (603127) reached a new high of 19.49 HKD, surpassing the previous high in March and marking the highest price since September 2023 [1] - The stock experienced significant volatility, with a nearly 30% drop in April due to market turbulence and regulatory changes, followed by a recovery of over 40% in May [1][4] - After peaking on June 17, the stock faced a three-day decline, dropping to a low of 13.89 HKD, a decrease of 28.73% from the peak [1] Group 2 - The Hang Seng Healthcare Index also rebounded after a five-day decline, indicating continued upward momentum in the Hong Kong pharmaceutical sector [2] - Investors are closely watching whether Zhaoyan New Drug can achieve new highs amid ongoing market fluctuations [2] Group 3 - Since the beginning of the year, southbound funds have accumulated a net purchase of nearly 700 billion HKD in Hong Kong stocks, with the healthcare sector showing significant gains [4] - The holding ratio of southbound funds in Zhaoyan New Drug increased from 37.58% to 40.64% in 2025, indicating a trend of increased investment [4][6] - The investment behavior of northbound funds shifted from "buying on dips" to "buying on rises" and back to "buying on dips" again, reflecting changing market dynamics [6] Group 4 - The recent surge in the Hong Kong innovative drug sector is driven by improved performance, policy optimization, and low valuations [4] - The financing environment for the domestic biopharmaceutical sector has improved, with a notable increase in investment cases and amounts in Q1 2025 [7] - The number of clinical approvals for new drugs in China has significantly increased, with 186 first-class new drugs receiving clinical approval in Q1 2025 [8][10] Group 5 - Zhaoyan New Drug reported a 115.11% year-on-year increase in net profit for Q1 2025, indicating strong financial performance despite market fluctuations [10] - The National Medical Products Administration's recent announcement aims to optimize the clinical trial review process, potentially accelerating the approval timeline for innovative drugs [10][12] - The average duration for new drug IND tasks in China is currently 71 days, with plans to reduce this to 30 working days, which could stimulate demand for Zhaoyan New Drug's services [12]

Core Viewpoint - The company, Zhaoyan New Drug, has experienced a decline in stock price and revenue, while showing significant growth in net profit, indicating mixed performance in the current market environment [1]. Company Summary - Zhaoyan New Drug's closing stock price on July 2 was 21.95 yuan, down 1.57%, with a rolling PE ratio of 42.46 times and a total market capitalization of 16.451 billion yuan [1]. - The company operates primarily in non-clinical safety evaluation services for drugs, clinical research services, and sales of experimental animals and related products [1]. - For the first quarter of 2025, Zhaoyan New Drug reported revenue of 287 million yuan, a year-on-year decrease of 11.54%, while net profit reached 41.1195 million yuan, reflecting a year-on-year increase of 115.11%, with a gross profit margin of 28.61% [1]. Industry Summary - The average PE ratio for the medical services industry is 41.66 times, with a median of 43.69 times, placing Zhaoyan New Drug at the 29th position within the industry [1]. - As of the first quarter of 2025, 22 institutions held shares in Zhaoyan New Drug, including 20 funds, with a total holding of 72.9482 million shares valued at 1.484 billion yuan [1]. - The industry comparison shows that Zhaoyan New Drug's PE ratio is higher than the industry average but lower than the median, indicating a competitive yet challenging market position [2].

Overview of Investment Fund Collaboration - The company, Beijing Zhaoyan New Drug Research Center Co., Ltd., has approved an investment of up to 20 million RMB to participate in the establishment of the Huaxia Zhiyuan Venture Capital Fund [2][3] - The fund aims to engage in investment activities primarily in unlisted companies within the full industry chain of molecular diagnostics and targeted therapies [4][5] Partnership Agreement Details - A partnership agreement has been signed with Huaxia Equity Investment Fund Management (Beijing) Co., Ltd., which will act as the general partner and fund manager [2][4] - The partnership has a term of 20 years, with an investment operation period of 7 years, extendable by up to 2 years under certain conditions [3][4] Fund Structure and Financials - The target total subscription amount for the fund is 35 million RMB, with a minimum contribution of 10 million RMB for each limited partner [3][5] - The management fee is set at 1% per year of the total paid-in capital, calculated daily [5] Investment Focus - The fund will focus on investments in the full industry chain of biomedicine for molecular diagnostics and targeted therapies, particularly in the development of Alpha-targeted therapies [4][5]