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: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 蘇州瑞博生物技術股份有限公司 呈交日期: 2026年2月5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) | 06938 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 165,813,510 | RMB | | 1 RMB | | 165,813,510 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 165,813,510 | RMB | | 1 RMB | | 165,813,510 | 本月底法定/註冊股本總額： RMB 165,813,510 備註： ...

Investment Rating - The industry investment rating is "Positive" (maintained) [6] Core Insights - The report highlights the significant commercial value of extrahepatic delivery technology for small nucleic acid drugs, which is expanding from liver diseases to multiple disease areas. Domestic companies are rapidly developing multi-target drugs and extrahepatic delivery platforms, which are expected to accelerate the release of potential clinical value [3][8] - The report emphasizes that multinational corporations (MNCs) are intensifying their focus on next-generation delivery platforms, moving from "liver validation" to "multi-organ expansion." This shift is crucial as it addresses unmet clinical needs in various tissues such as fat, muscle, central nervous system, heart, and kidneys [8] - The report indicates that 2026 is a pivotal year for small nucleic acid therapies, with domestic innovative drugs expected to become core assets for transactions. Domestic companies have accumulated rich experience in chemical modifications and liver-targeted delivery technologies, covering high-value areas such as hyperlipidemia, hypertension, hepatitis B, and weight loss [8] Summary by Sections Industry Overview - The report focuses on the pharmaceutical and biotechnology industry in China, specifically on small nucleic acid drugs and their evolving delivery technologies [5][6] Investment Recommendations and Targets - The report lists several investment targets, including: - YK Pharma (688658, Buy) - Hengrui Medicine (600276, Buy) - Xinda Biopharma (01801, Not Rated) - Other companies such as Chengdu XianDao (688222, Not Rated), Reborn Biotech (06938, Not Rated), and others [3]

(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 : 6938) 30 January 2026 Dear registered shareholder(s), Arrangement of Electronic Dissemination of Corporate Communications Pursuant to Rule 2.07A of the Rules Governing The Listing of Securities on The Stock Exchange of Hong Kong Limited under the expansion of paperless listing regime and electronic dissemination of corporate communications that came into effect on 31 Decembe ...

(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 : 6938) Dear non-registered shareholder(s), 30 January 2026 Arrangement of Electronic Dissemination of Corporate Communications Pursuant to Rule 2.07A of the Rules Governing The Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") under the expansion of paperless listing regime and electronic dissemination of corporate communications that came ...

Core Viewpoint - Insurance capital is increasingly participating in cornerstone investments in Hong Kong IPOs, signaling strong market confidence, with significant investments from major insurance companies like Taikang Life and Ping An Life [1][3][4]. Group 1: Investment Trends - In early 2026, four insurance companies participated in eight Hong Kong IPO cornerstone investments, with Taikang Life investing $10 million in the IPO of Mingming Hen Mang [1]. - From 2025 to early 2026, seven insurance institutions participated as cornerstone investors in 20 Hong Kong IPOs, with a total subscription amount of HKD 4.679 billion [1][4]. - The average return for Hong Kong IPOs in 2025 was 38%, with the first-day price drop rate at a five-year low of 23.08% [6][10]. Group 2: Challenges Faced - Insurance companies face challenges in accessing IPO projects due to high entry barriers and the need for strong cross-market research capabilities [2][15]. - The balance between high return potential and net asset value volatility is a significant concern for insurance funds, which are generally risk-averse [2][15]. Group 3: Market Outlook - The IPO fundraising scale in Hong Kong is expected to remain strong in 2026, with insurance capital becoming a long-term force in the market [2][15][16]. - The cornerstone investment mechanism is seen as a key entry point for quality assets in the Hong Kong market, enhancing liquidity and valuation flexibility [2][16]. Group 4: Sector Focus - Insurance capital is focusing on sectors such as AI, biomedicine, and new consumer brands, with a notable interest in companies like MINIMAX and Ruibo Biotechnology [9][10]. - The investment strategy is shifting towards a more diversified valuation framework, moving beyond traditional profit metrics to include growth potential [10][11].

Core Viewpoint - RiboBio-B (06938) has received implied approval from the National Medical Products Administration of China for the Phase II clinical trial of its self-developed RBD5044 injection, which targets APOC3 and addresses complications related to hypertriglyceridemia [1] Group 1 - RBD5044 is a siRNA drug that specifically targets APOC3, a protein synthesized almost exclusively in the liver [1] - APOC3 plays a critical role in lipid metabolism, making RBD5044 a potential treatment option for managing dyslipidemia [1] - The drug aims to address complications associated with hypertriglyceridemia, providing a new therapeutic choice in lipid management [1]

Core Viewpoint - RBD5044, a siRNA drug targeting APOC3, has received implied approval for Phase II clinical trials from the National Medical Products Administration of China, indicating a significant step forward in the management of dyslipidemia related to hypertriglyceridemia [1] Group 1: Company Information - RBD5044 is developed by Reborn Bio-B (06938) and is designed to address complications associated with hypertriglyceridemia [1] - The drug targets APOC3, a protein synthesized primarily in the liver, which plays a crucial role in lipid metabolism [1] Group 2: Industry Context - The approval of RBD5044 represents a potential new treatment option for managing lipid disorders, highlighting advancements in the field of lipid metabolism therapies [1]

Core Viewpoint - Reborn Bio-B (06938.HK) has received implied approval from the National Medical Products Administration of China for the Phase II clinical trial of its self-developed RBD5044 injection, a targeted siRNA drug aimed at APOC3 [1] Group 1: Product Development - RBD5044 is designed to target APOC3, a protein primarily synthesized in the liver that plays a crucial role in lipid metabolism [1] - The drug addresses complications associated with hypertriglyceridemia, providing a treatment option for managing dyslipidemia [1]

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。 蘇州瑞博生物技術股份有限公司 （於中華人民共和國註冊成立的股份有限公司） Suzhou Ribo Life Science Co., Ltd. （股份代號：6938） 自願公告 RBD5044於中國的II期臨床試驗默示許可 本公告由蘇州瑞博生物技術股份有限公司（「本公司」，連同其子公司統稱「本集 團」）自願作出，旨在向本公司股東（「股東」）及潛在投資者提供本集團研發進展的 最新情況。 本公司董事（「董事」）會（「董事會」）欣然宣佈，本集團自主研發的RBD5044注射 液已獲中國國家藥品監督管理局的II期臨床試驗默示許可。 香港，2026年1月23日 截至本公告日期，執行董事為梁子才博士、甘黎明博士及張鴻雁博士，非執行董 事為戚飛博士、李東方先生及李宇輝先生，及獨立非執行董事為宇學峰博士、馬 朝松先生及王瑞平先生。 RBD5044是一款靶向APOC3的siRNA藥物。APOC3是一種幾乎只在肝臟中合成 的蛋 ...

Group 1 - The core viewpoint of the article highlights that Rebio Biotech (06938) is a leading player in China's small RNA field, recognized for its comprehensive technology platform and significant market potential, often referred to as the "Chinese version of Alnylam" [1] - Rebio Biotech has six self-developed siRNA drugs currently in clinical trials, targeting seven indications, with four of them in Phase 2 trials, and over 20 preclinical assets in progress [1] - The global thrombotic disease market is projected to impact approximately 26.7 million people by 2026, with an anti-thrombotic drug market valued at around $70 billion [1] Group 2 - The company's pipeline targets FXI, effectively avoiding bleeding risks associated with existing drugs, and siRNA offers long-lasting and safety advantages [1] - Rebio Biotech's pipeline has first-in-class (FIC) potential, having already entered Phase 2 clinical trials, specifically in a Phase 2a trial for coronary artery disease, with plans to initiate Phase 2b trials within the year [1] - Initial Phase 1 clinical data indicates that the company's product demonstrates superior anticoagulant effects with strong safety profiles, showing no serious adverse events related to the drug, with peak potential estimated to reach $10 billion [1]