Core Viewpoint - The company Kailaiying (002821)(06821) announced the issuance and allocation of 281,300 shares to a trustee under its H-share restricted stock plan on January 26, 2026 [1] Group 1 - The company will issue 281,300 shares [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 呈交日期： 2026年1月26日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 H | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 06821 | 說明 H股 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | ...

Core Viewpoint - The article emphasizes China's dominant position in the global pharmaceutical supply chain, particularly in the production of Active Pharmaceutical Ingredients (APIs) and Key Starting Materials (KSMs), which poses a significant asymmetric threat to U.S. national security [4][5]. Group 1: China's Dominance in Pharmaceutical Supply Chain - China holds a near-monopoly in the production of various pharmaceutical raw materials, with over 90% of global antibiotic intermediates supplied by China [18]. - Approximately 70%-80% of global vitamin production capacity is controlled by China, making it a critical player in the pharmaceutical industry [19]. - China's low-cost, high-output chemical manufacturing capabilities create significant barriers for competitors, allowing it to define prices and capacities in the market [21]. Group 2: Impact of Geopolitical Tensions - The U.S.-China trade tensions have led to concerns about the dependency of the U.S. on Chinese pharmaceutical supplies, which could lead to drug shortages in critical situations [9][10]. - The article illustrates a hypothetical scenario where geopolitical tensions could disrupt the supply of essential medications, highlighting the risks of "asymmetric interdependence" [7][9]. - The ongoing drug shortage issues in the U.S. are exacerbated by the complex global supply chain, where many active ingredients are sourced from China [10][11]. Group 3: Historical Context and Strategic Decisions - The article discusses the historical context of the pharmaceutical industry's shift, where Western companies outsourced low-margin API production to lower-cost countries, primarily China, while retaining high-margin R&D and marketing functions [23][24]. - This outsourcing has led to a significant loss of industrial capability in the West, as the foundational skills and infrastructure for API production have diminished [32]. Group 4: Challenges for India as an Alternative - India, often referred to as the "world's pharmacy," lacks the complete supply chain necessary for API production, relying heavily on Chinese intermediates [36][38]. - Despite efforts to establish a domestic API supply chain, India's progress is hindered by infrastructure challenges and the dominance of Chinese suppliers [37][39]. Group 5: Future Outlook and Strategic Recommendations - The article suggests that China is transitioning from merely being a low-cost producer to becoming a leader in technology and standards within the pharmaceutical industry [43]. - As geopolitical tensions rise, the need for China to innovate in green technologies and maintain its competitive edge in the pharmaceutical supply chain becomes critical [55][56]. - The future of the pharmaceutical industry will focus on balancing efficiency and safety, with the ability to provide cost-effective and safe drugs being a key determinant of success [58].

Group 1 - Norges Bank reduced its stake in Kintor Pharmaceutical (06821) by 110,000 shares at a price of HKD 88.1971 per share, totaling approximately HKD 9.7017 million [1][3] - After the reduction, Norges Bank's latest holding is 4.1326 million shares, representing a stake of 14.99% [1][3]

Group 1 - Norges Bank reduced its stake in Kelaiying (002821) by 110,000 shares at a price of HKD 88.1971 per share, totaling approximately HKD 9.7017 million [1] - After the reduction, Norges Bank's latest holding is 4.1326 million shares, representing a holding percentage of 14.99% [1]

Group 1 - Norges Bank reduced its stake in Kintor Pharmaceutical (06821) by 110,000 shares at a price of HKD 88.1971 per share, totaling approximately HKD 9.7017 million [1] - After the reduction, Norges Bank's latest holding is 4.1326 million shares, representing a holding percentage of 14.99% [1]

Group 1 - The core viewpoint of the news is that Kailaiying has shown significant trading activity and financial performance, with a notable increase in shareholder numbers and revenue growth [1][2]. Group 2 - On January 16, Kailaiying's stock rose by 0.78%, with a trading volume of 639 million yuan. The financing buy amount was 36.72 million yuan, while the financing repayment was 56.27 million yuan, resulting in a net financing outflow of 19.55 million yuan [1]. - As of January 16, the total balance of margin trading for Kailaiying was 853 million yuan, with a financing balance of 849 million yuan, accounting for 2.41% of the circulating market value, which is above the 50th percentile level over the past year [1]. - In terms of securities lending, on January 16, Kailaiying repaid 2,400 shares and sold 100 shares, with a selling amount of 10,700 yuan. The remaining securities lending volume was 45,900 shares, with a balance of 4.92 million yuan, also above the 50th percentile level over the past year [1]. Group 3 - As of September 30, Kailaiying had 60,100 shareholders, an increase of 45.37% compared to the previous period. The average circulating shares per person remained at 0 shares [2]. - For the period from January to September 2025, Kailaiying achieved operating revenue of 4.63 billion yuan, a year-on-year increase of 11.82%, and a net profit attributable to shareholders of 800 million yuan, up 12.66% year-on-year [2]. - Since its A-share listing, Kailaiying has distributed a total of 2.405 billion yuan in dividends, with 1.701 billion yuan distributed over the past three years [2]. Group 4 - As of September 30, 2025, among the top ten circulating shareholders of Kailaiying, the largest shareholder was Central European Medical Health Mixed A, holding 16.3189 million shares, an increase of 34,600 shares compared to the previous period [2]. - Hong Kong Central Clearing Limited ranked as the fourth largest circulating shareholder, holding 13.2877 million shares, an increase of 626,400 shares [2]. - The sixth largest circulating shareholder, Huabao Zhongzheng Medical ETF, held 5.6467 million shares, a decrease of 1 million shares compared to the previous period [2].

香港联交所最新资料显示，1月9日，Schroders PLC减持凯莱英（06821）16.77万股，每股作价83.6305 港元，总金额约为1402.48万港元。减持后最新持股数目为550.56万股，最新持股比例为19.98%。 责任编辑：卢昱君 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 责任编辑：卢昱君 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 香港联交所最新资料显示，1月9日，Schroders PLC减持凯莱英（06821）16.77万股，每股作价83.6305 港元，总金额约为1402.48万港元。减持后最新持股数目为550.56万股，最新持股比例为19.98%。 ...

Group 1 - Schroders PLC reduced its stake in Kintor Pharmaceutical (002821) by selling 167,700 shares at a price of HKD 83.6305 per share, totaling approximately HKD 14.0248 million [1] - After the reduction, Schroders PLC's remaining shareholding is 5.5056 million shares, representing a holding percentage of 19.98% [1]

智通财经APP获悉，香港联交所最新资料显示，1月9日，Schroders PLC减持凯莱英(06821)16.77万股， 每股作价83.6305港元，总金额约为1402.48万港元。减持后最新持股数目为550.56万股，最新持股比例 为19.98%。 ...