Core Viewpoint - The company has successfully obtained medical device registration for its BioCyte series flow cytometers in Malaysia, marking a significant step in expanding its market presence in Southeast Asia and serving global clinical and research users [1] Group 1: Product Development and Approval - The BioCyte series flow cytometers were developed by the company's subsidiary, Zhongsheng (Suzhou) Medical Technology Co., Ltd [1] - The registration number for the medical device is IVDA9463526–225393, indicating compliance with Malaysian regulatory standards [1] - The approval signifies that the product is now eligible for legal marketing, sales, and use in Malaysia [1] Group 2: Market Implications - The flow cytometry technology is widely used in clinical diagnostics and research, providing technical support for disease diagnosis, immunology research, and drug development [1] - The BioCyte series has already been applied in the domestic market due to its stable performance and accuracy in detection [1] - The company will collaborate with local authorized representative TRUSTDIAGNOSTICS SDN BHD to advance its market strategy in Malaysia [1]

Core Viewpoint - The company has successfully obtained medical device registration for its BioCyte series flow cytometers in Malaysia, marking a significant step in expanding its presence in the Southeast Asian market [1] Group 1: Product Development and Approval - The BioCyte series flow cytometers developed by the company's subsidiary, China Bio (Suzhou) Medical Technology Co., Ltd., have passed the Malaysian Medical Device Authority's review [1] - The registration number for the medical device is IVDA9463526–225393, indicating that the product is now legally qualified for sale and use in Malaysia [1] Group 2: Market Expansion and Strategy - The approval allows the company to expand its market reach in Southeast Asia and enhance its brand influence and market coverage internationally [1] - The product will be marketed through the local authorized representative, TRUST DIAGNOSTICS SDN BHD, facilitating the company's market entry strategy [1] Group 3: Technology Application - Flow cytometry technology is widely used in clinical diagnostics and research, providing technical support for disease diagnosis, immunology research, and drug development [1] - The BioCyte series has already been applied in the domestic market due to its stable performance and accuracy in detection [1]

Core Viewpoint - The company has successfully obtained medical device registration for its BioCyte series flow cytometers in Malaysia, marking a significant step in expanding its presence in the Southeast Asian market [1] Group 1: Product Development and Approval - The BioCyte series flow cytometers were developed by the company's subsidiary, Zhongsheng (Suzhou) Medical Technology Co., Ltd [1] - The registration number for the medical device is IVDA9463526–225393, indicating compliance with Malaysian regulatory standards [1] - The approval signifies that the product is now eligible for legal sales and use in Malaysia, enhancing the company's market opportunities [1] Group 2: Market Expansion and Strategy - The successful registration is expected to facilitate the company's expansion into the Southeast Asian market, aligning with its international development strategy [1] - The product will be marketed through a local authorized representative, TRUST DIAGNOSTICS SDN BHD, to enhance market penetration [1] - The flow cytometry technology is widely used in clinical diagnostics and research, providing support for disease diagnosis, immunology research, and drug development [1] Group 3: Regulatory Compliance - Malaysia has stringent regulatory standards for medical device approval, which the company successfully navigated by completing product testing and technical documentation submission [1] - The approval process underscores the company's commitment to meeting local regulatory requirements [1]

自願公告 中生（蘇州）醫療科技有限公司產品 獲發馬來西亞醫療器械註冊證 本公告乃由中生北控生物科技股份有限公司（「本公司」，與其附屬公司統稱為「本 集團」）自願作出，旨在提供本公司股東及潛在投資者有關本集團之最新業務發展。 本公司董事（「董事」）會（「董事會」）欣然宣佈，本公司之附屬公司中生（蘇州）醫 療科技有限公司（「中生醫療」）自主研發之BioCyte 系列流式細胞儀，近日成功通 過馬來西亞醫療器械管理局的審核，正式獲得馬來西亞醫療器械註冊證，註冊編 號為IVDA9463526–225393。該註冊證的取得，標誌著相關產品已具備在馬來西亞 合法上市、銷售及使用的資格，也為本公司拓展東南亞市場、服務全球臨床與科研 使用者邁出了堅實有力的一步。 一、 產品基本情況 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佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任 何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 馬來西亞對醫療器械准入設有嚴格監管標準。中生醫療依據當地相關法規要 求，完成產品檢測、技術資料提交及審核程式，最終獲得馬來西亞醫療器械管 理 ...

Group 1 - The core focus of the recent news is on the strategic cooperation and governance changes of China National Pharmaceutical Group (08247.HK) [1] - On February 11, 2026, the company signed a strategic cooperation agreement with Guangdong Xiaoshou Medical Technology Co., Ltd., aiming to enhance collaboration in grassroots medical services [1] - The company completed a board restructuring on February 9, 2026, with Chen Peng appointed as the new chairman, while Chen Zhengyong remains an executive director [1] Group 2 - Following these events, the company's stock price exhibited a volatile upward trend, opening at HKD 4.85 on February 9 and reaching a peak of HKD 5.16 on February 11, marking a maximum increase of 6.46% [2] - As of February 13, 2026, the stock price was reported at HKD 4.92, reflecting a daily decline of 0.61%, but a cumulative increase of 2.50% over the past five days and a year-to-date increase of 117.70% [2] - Trading volume peaked at 108,000 shares on the day of the cooperation announcement, indicating high market interest, but subsequently decreased to 14,000 shares by February 13, suggesting a consolidation phase [2]

Market Overview - The Hong Kong stock market opened slightly lower, with the Hang Seng Index down 0.2% at 27,210.56 points, the Hang Seng Tech Index down 0.47% at 5,474.25 points, and the National Enterprises Index down 0.19% at 9,250.27 points [1] - Major tech stocks mostly opened lower, with Alibaba down 1.37%, Tencent down 2.01%, and Meituan down 2.48%, while AI application stocks showed strength, with Zhihui up 8.77% and MINIMAX-WP up 5.65% [1] Company Performance - NetEase reported strong performance, with a net revenue of approximately 112.63 billion yuan, a year-on-year increase of 6.96%, and a net profit of approximately 33.76 billion yuan, up 13.68% [2] - NetEase Cloud Music saw a significant profit increase of 75.4%, with a revenue of 7.76 billion yuan and a profit of 2.75 billion yuan, confirming a turning point in performance [2] Industry Trends - The hard technology and manufacturing sectors showed signs of recovery, with Qiu Tai Technology reporting a 22.8% year-on-year increase in camera module sales and an 18.4% increase in fingerprint recognition module sales, driven by demand in IoT and smart automotive sectors [3] - The renewable energy sector also saw growth, with China Resources Power reporting a 28.4% year-on-year increase in electricity sales, and solar power sales soaring by 72.3% [3] Biopharmaceutical Sector - The biopharmaceutical sector experienced significant positive developments, with Rebio Biotech announcing a global exclusive licensing agreement worth up to 4.4 billion USD, leading to a substantial increase in stock price [4] - Heng Rui Pharmaceutical's product was included in a breakthrough therapy list, with projected global sales exceeding 6.5 billion USD in 2024 [4] Capital Market Activity - Industrial capital is actively engaging in buybacks to stabilize the market, with Geely Automobile repurchasing shares worth approximately 20.30 million HKD and other companies like Kingsoft and Bai Rong Cloud also participating in buybacks [5] - Huili Group is expected to see a profit increase of over 20 times in 2025, indicating a strong performance reversal [5] Institutional Insights - There is a divergence in institutional views regarding market fluctuations, with some suggesting that the recent pullback is a liquidity shock, while others believe that valuation recovery is nearly complete [6] - Specific sectors like AI computing and surgical robots are highlighted for potential growth, with expectations for high performance in 2025 and 2026 [6]

Company News - Q Technology (01478.HK) reported a total sales volume of camera modules of 44.071 million units in January, representing a year-on-year increase of 22.8%. Fingerprint recognition module sales reached 19.741 million units, up 18.4% year-on-year, driven by increased overseas customer demand and a growing market share in the IoT and smart automotive sectors [2] - China Resources Power (00836.HK) achieved a sales volume of 23.78879 million megawatt-hours in January, a year-on-year increase of 28.4%. The sales from wind power plants increased by 7.2%, while solar power plant sales surged by 72.3% year-on-year [2] - NetEase-S (09999.HK) projected net revenue of approximately 112.626 billion yuan for 2025, a year-on-year growth of 6.96%, with net profit expected to be around 33.76 billion yuan, up 13.68% [2] - NetEase Cloud Music (09899.HK) anticipates revenue of about 7.759 billion yuan in 2025, with an expected profit of approximately 2.746 billion yuan, reflecting a significant year-on-year growth of 75.4%. The gross margin is expected to reach 35.7%, an increase from 33.7% in 2024, attributed to business scale growth, enhanced monetization capabilities, prudent cost management, and operational leverage [2] - Huitian Group (00806.HK) expects to achieve a consolidated profit attributable to shareholders of approximately 660 million HKD for the fiscal year 2025, a substantial increase from 31 million HKD in the previous year [2] Biotech Developments - Reborn Bio-B (06938.HK) entered into an exclusive global licensing agreement with Madrigal for several siRNA assets, receiving an upfront payment of 60 million USD, with potential cumulative payments of up to 4.4 billion USD upon achieving certain development, regulatory, and commercialization milestones, in addition to potential royalties on net sales [3] - Fuhong Hanlin (02696.HK) completed the first patient dosing in a Phase 1b/2 clinical study of HLX43 in combination with HLX07 or Hansizhuang® for patients with advanced or metastatic colorectal cancer in China [3] - Heng Rui Medicine (01276.HK) announced that its injection of Rukang Trastuzumab has been included in the list of breakthrough therapies, with global sales of similar products expected to reach approximately 6.557 billion USD in 2024 [3] - Saint Bella (02508.HK) made significant progress in its global strategic expansion plan, aiming to extend its reach to the eastern United States, the UK, France, Thailand, and Australia [3] - China National Biotech Group (08247.HK) signed a strategic cooperation agreement with Xiaoshou Medical to jointly promote the enhancement of quality medical resources and grassroots medical service capabilities [3] Buyback Activities - Geely Automobile (00175.HK) repurchased 1.201 million shares at a cost of 20.3042 million HKD, with repurchase prices ranging from 16.67 to 17.08 HKD [4] - Bairong Cloud-W (06608.HK) repurchased 1.66 million shares for 18.9051 million HKD, with share prices between 11.11 and 11.43 HKD [5] - Kingsoft (03888.HK) repurchased 355,200 shares at a cost of 9.9963 million HKD, with repurchase prices ranging from 27.9 HKD to 28.2 HKD [5]

Group 1 - The core viewpoint of the article is the strategic cooperation agreement signed between China National Pharmaceutical Group Beikong Biotechnology (08247.HK) and Guangdong Xiaoshou Medical Technology Co., Ltd. to enhance grassroots medical services and resource allocation [1] - The agreement aims to promote multi-dimensional collaboration in the grassroots healthcare sector, focusing on improving the quality of medical resources and service capabilities [1] - As of February 11, 2026, the stock price of China National Pharmaceutical Group Beikong Biotechnology closed at HKD 5.02, reflecting a 0.4% increase with a trading volume of 108,000 shares and a turnover of HKD 544,600 [1] Group 2 - The market capitalization of China National Pharmaceutical Group Beikong Biotechnology is HKD 321 million, ranking 47th in the biopharmaceutical II industry [1] - There has been low attention from investment banks regarding this stock, with no ratings provided in the past 90 days [1]

Core Viewpoint - The strategic cooperation agreement between China National Pharmaceutical Group (中生北控生物科技) and Guangdong Xiaoshou Medical Technology aims to enhance grassroots medical services and resource allocation in China [1] Group 1: Company Overview - China National Pharmaceutical Group is a leading supplier of in vitro diagnostic reagents, engaged in the research, production, sales, and distribution of diagnostic products [1] - The company provides reliable disease testing reagents to hospitals and healthcare institutions, emphasizing quality and reliability in its offerings [1] Group 2: Partnership Details - The partnership with Xiaoshou Medical focuses on multi-dimensional collaboration in the grassroots medical field, aiming to improve the operational efficiency and accessibility of medical services [1] - Xiaoshou Medical is a digital service provider for grassroots healthcare in China, having established partnerships with thousands of grassroots medical institutions across the country [1] - The collaboration is expected to integrate the company's R&D capabilities with Xiaoshou Medical's digital channel resources, facilitating the penetration of products and services into grassroots medical institutions [1] Group 3: Strategic Alignment - This strategic cooperation aligns with national initiatives to enhance the grassroots healthcare system and supports the "Healthy China" strategy [1]

Core Viewpoint - The strategic cooperation agreement between China National Pharmaceutical Group's subsidiary, Zhongsheng Beikong Biotechnology, and Xiaoshou Medical aims to enhance grassroots medical services and resource allocation in China [1] Group 1: Strategic Cooperation - The agreement was signed on February 11, 2026, in Beijing, focusing on multi-dimensional collaboration in the grassroots medical field [1] - Xiaoshou Medical is a digital service provider for grassroots healthcare in China, connecting and empowering medical institutions through technology [1] - The partnership is expected to integrate quality R&D capabilities with digital channel resources, accelerating the penetration of products and services into grassroots medical institutions [1] Group 2: Company Background - Zhongsheng Beikong Biotechnology is a leading supplier of in vitro diagnostic reagents in China, engaged in R&D, production, sales, and distribution of diagnostic products [1] - The company provides reliable disease testing reagents to hospitals and healthcare institutions, aligning with national strategies for improving grassroots healthcare systems and the "Healthy China" initiative [1] Group 3: Xiaoshou Medical's Role - Xiaoshou Medical has established partnerships with thousands of grassroots medical institutions across all provinces in China [1] - The company has developed an AI digital platform that integrates medical institution information systems, serving as a core "connector" to enhance operational efficiency and accessibility of grassroots medical services [1]