（股 份 代 號：6955） 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 就 因 本 公 告 的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。 Shandong Boan Biotechnology Co., Ltd. 山東博安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） 自願性公告 本公司納武利尤單抗中國Ⅲ期臨床試驗完成所有患者入組 山東博安生物技術股份有限公司（「本公司」）董事會（「董事會」）宣 佈，本 公 司 自 主開發的BA1104（納 武 利 尤 單 抗 注 射 液）在中華人民共和國（「中 國」）的Ⅲ期臨床 試 驗 已 完 成 所 有 患 者 入 組。BA1104開 發 進 度 領 先，為 國 內 首 個 開 展 Ⅲ 期 臨 床 試 驗的歐狄沃® （Opdivo®）生 物 類 似 藥。 納武利尤單抗是一種針對程序性細胞死亡1（「PD-1」）受體的人源化單克隆抗體 （IgG4亞 型），通 過 ...

Core Viewpoint - Despite significant business development (BD) agreements exceeding $10 billion, the stock prices of innovative pharmaceutical companies remain sluggish, indicating a disconnect between market expectations and actual performance [1][2]. Group 1: Market Performance - The Hong Kong Stock Connect innovative drug index has declined from over 1240 points on October 9 to 1110 points, reflecting a drop of approximately 10.5% [1][2]. - Notable companies like 信达生物 (Innovent Biologics) have seen their stock prices fall despite announcing major collaborations, with 信达生物's stock dropping 1.96% to 85.2 HKD per share on October 22 [2]. - Over the past month, the innovative drug sector has experienced a 16% decline from a peak of 1326 points on September 8, with several companies like 诺诚健华 (Nocera) and 康诺亚-B (CanSino) seeing stock drops exceeding 19% [2][4]. Group 2: Financial Performance - Many innovative drug companies have reported revenue growth, yet profitability remains a concern, with only four out of the listed companies achieving positive net profits [6][7]. - 康诺亚-B reported a staggering 812.1% year-on-year revenue increase, while other companies like 诺诚健华 and 信达生物 also showed significant revenue growth of over 40% [6][7]. Group 3: Industry Dynamics - The innovative drug sector is characterized by high competition and a high rate of project failure, with a significant percentage of BD agreements facing termination [8]. - The long-term outlook for the Chinese innovative drug industry remains positive, driven by an increase in BD transactions, although the market is becoming increasingly competitive [8][9]. - Analysts suggest that the recent stock price adjustments may be a result of previously overly optimistic expectations regarding BD agreements, and the market may be entering a phase of stabilization [10].

Core Viewpoint - The stock price of Bohan Biotech (06955) has declined over 30% since reaching a peak of HKD 19.90 on August 8, 2023, and is now facing pressure to maintain its position in the Hong Kong Stock Connect due to a decrease in average market capitalization [1][2] Group 1: Stock Performance - Bohan Biotech's average market capitalization has fallen to HKD 66.51 billion, approaching the HKD 57.45 billion threshold for potential removal from the Hong Kong Stock Connect [1] - The stock has been in a downward trend characterized by "price drop and volume shrinkage" since August, with significant trading volume declines observed [2][3] - Recent trading days have shown signs of stabilization, with the stock price touching the lower Bollinger Band and attempting a technical rebound [5] Group 2: Market Dynamics - The company has successfully commercialized biosimilars, which has been a key strategy for growth, but faces challenges due to centralized procurement policies [6][7] - The centralized procurement initiated on August 1, 2023, includes several monoclonal antibodies, directly impacting Bohan Biotech's products [7][8] - Bohan Biotech's flagship product, Bevacizumab (博优诺), faces intense competition with 11 approved biosimilars in the market, leading to price pressures [8][9] Group 3: Competitive Landscape - The sales performance of Bohan Biotech's products is under threat from established competitors, with significant market shares held by other companies [8] - The pricing strategy in response to centralized procurement may lead to a price war, impacting both Bohan Biotech and its competitors [9] - The regulatory environment for biosimilar procurement is evolving, with expectations for moderate price reductions rather than aggressive undercutting [9]

Core Viewpoint - The stock price of Bohan Biotech (06955) has declined over 30% since reaching a peak of 19.90 HKD on August 8, 2023, and is now facing pressure to maintain its status in the Hong Kong Stock Connect due to a decrease in average market capitalization [1][2] Group 1: Stock Performance - Bohan Biotech's average market capitalization has fallen to 6.651 billion HKD, approaching the Hong Kong Stock Connect exit threshold of 5.745 billion HKD [1] - The stock has been in a downward trend characterized by "price drop and volume shrinkage" since August, with significant trading volume declines observed [2][3] - On October 14, the stock price reached a low of 11.22 HKD, but there are signs of stabilization in the following trading days [1][5] Group 2: Market Dynamics - The company has faced challenges due to the introduction of centralized procurement for biosimilars, which could impact its valuation and market position [1][6] - Bohan Biotech's strategy of developing biosimilars has been crucial for its commercial success, but the centralized procurement poses a risk to its business model [6][7] - The centralized procurement initiated on August 1, 2023, includes several key monoclonal antibodies, directly affecting Bohan Biotech's products [7][8] Group 3: Competitive Landscape - Bohan Biotech's core product, Bevacizumab (博优诺®), faces intense competition with 11 approved biosimilars in the market, leading to price pressures [8][9] - The company has partnered with AstraZeneca for the exclusive promotion of Bevacizumab, but its market share remains low compared to competitors [8] - The pricing strategy post-procurement will be critical, as Bohan Biotech's pricing is competitive but may still struggle against established players [9]

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9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: 山東博安生物技術股份有限公司 呈交日期: 2025年10月3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) | 06955 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 622,333,694 | RMB | | 1 RMB | | 622,333,694 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 622,333,694 | RMB | | 1 RMB | | 622,333,694 | 本月底法定/註冊股本總額： RMB 622,333,694 ...

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之內容概不 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 部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 – 1 – | 現行章程 | | | | | | | 建議修訂 | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 在上述首次境外發行上市及非境外上 | | | | | | | | | | | | | | 在上述首次境外發行上市及非境外上 | | | | | | | | | | 市股份轉換為H股全部完成後，公司的 | | | | | | | | | | | | | | 市股份轉換為H股全部完成後，公司的 | | | | | | | | | | 股509,27 ...

山東博安生物技術股份有限公司 章 程 山東博安生物技術股份有限公司 第五條 公 司 的 法 定 代 表 人 由 執 行 公 司 事 務 的 董 事 或 經 理 擔 任。 擔 任 法 定 代 表 人 的 董 事 或 者 經 理 辭 任 的，視 為 同 時 辭 去 法 定 代 表 人。 | 第一章 | | 總則 | | 3 | | --- | --- | --- | --- | --- | | 第二章 | | 經營宗旨和範圍 | | 5 | | 第三章 | | 股份 | | 5 | | 第一節 | | 股份發行 | | 5 | | 第二節 | | 股份增減和回購 | | 9 | | 第三節 | | 股份轉讓 | | 10 | | 第四節 | | 股票和股東名冊 | | 11 | | 第四章 | | 股東和股東會 | | 13 | | 第一節 | 股東 | | | 13 | | 第二節 | | 股東會的一般規定 | | 16 | | 第三節 | 股東會的召集 | | | 19 | | 第四節 | | 股東會的提案與通知 | | 21 | | 第五節 | 股東會的召開 | | | 23 | | 第六節 | | 股東會 ...

山東 博 安 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 ） 股份代號 : 6955 2025 中期報告 目錄 2 公司概覽 3 公司資料 5 財務摘要 6 管理層討論及分析 26 其他資料 30 獨立審閱報告 31 中期簡明綜合損益及其他全面收益表 32 中期簡明綜合財務狀況表 34 中期簡明綜合權益變動表 35 中期簡明綜合現金流量表 37 中期簡明綜合財務資料附註 公司概覽 山東博安生物技術股份有限公司（「博安生物」或「本公司」，連同其附屬公司統稱「本集團」）成立於2013年，是一家 綜合性生物製藥公司，專門從事生物製品的研發、生產及營銷，專注於腫瘤、自身免疫性疾病、眼科及代謝疾病 等治療領域。本公司圍繞多個平台開展藥物發現活動：全人抗體轉基因小鼠及噬菌體展示技術平台、雙特異T-cell Engager技術平台、ADC技術平台及細胞治療平台。 博安生物的業務覆蓋全產業鏈，涵蓋抗體發現、細胞株開發、上游及下游工藝開發、分析及生物分析方法開發、技 術轉移、非臨床研究、臨床研究、法規及註冊以及商業化規模生產。在細胞治療領域，博安生物專注 ...

Core Viewpoint - The stock of Boan Biotechnology (06955) has seen a significant increase of over 14%, currently trading at 14.36 HKD with a transaction volume of 290 million HKD, indicating strong market interest and confidence in the company's future prospects [1] Financial Performance - Boan Biotechnology has effectively controlled expenses in the first half of the year, although the launch of the new product, Dexamethasone, has led to a temporary decrease in gross margin [1] - The company has experienced a dynamic reduction in R&D expense ratio while maintaining reasonable fluctuations in sales expense ratio, indicating efficient cost management [1] - The company currently has ample cash reserves, which supports the rapid advancement of its innovative drug pipeline [1] Technological Capabilities - Boan Biotechnology has established four major technology platforms: fully human antibody transgenic mouse platform, bispecific TCE technology platform, ADC technology platform, and AI application platform, positioning itself for next-generation IO+ADC therapies [1] - The fully human antibody transgenic mouse platform includes 30 human antibody kappa light chain variable region genes and 110 human antibody heavy chain variable region genes (IgM and IgG1), enabling rapid immune response and high antibody titers, validated across numerous antibody projects [1] - The ADC platform is continuously upgraded, focusing on differentiated toxins and indications, including CLDN18.2 ADC, CD228 ADC, next-generation bispecific ADC, and bispecific toxin ADC [1] Market Potential - Huazhong Securities expresses optimism regarding the comprehensive capabilities of the company's biopharmaceutical platform and the significant market potential of its FIC innovative pipeline [1]

Group 1 - The stock of Boan Biotechnology (06955.HK) increased by over 14% on September 16, reaching a price of 14.36 HKD [1] - As of the report, the stock was up 10.46% with a trading volume of 290 million HKD [1]