就在4月14日，江苏正力新能电池技术股份有限公司(股票代码：03677.HK)正式在港交所主板挂牌上 市，首发募集资金10.05亿港元。 正力新能成立于2019年，主要专注于动力电池产品、储能电池产品及航空电池产品的研发、生产及销 售，为客户提供电芯、模组、电池包、电池簇、电池管理系统的一体化方案，致力于拓展电化学产品在 陆海空互联下的大规模应用。 成立以来，正力新能为包括油电混合动力在内的全场景、多路径的全球出行领域客户提供高品质的动力 电池产品，配套规模累计接近400万台，是国内动力电池装机量长期稳居行业前十的最年轻企业。 映恩生物是一家临床阶段的创新生物药企，专注于为癌症和自身免疫性疾病患者研发新一代抗体偶联药 物(ADC)。映恩生物已成功构建了多个具有全球知识产权的新一代ADC技术平台。基于对疾病生物学机 制的深入研究和探索，映恩生物拥有丰富的临床ADC研发管线，并在超过17个国家开展多个全球多中 心临床试验，入组超过2000名患者。 同时，映恩生物与全球制药公司和顶尖创新药企达成多项海外授权合作。作为全球ADC创新引擎，映 恩生物持续开发下一代新型ADC，包括双抗ADC、全新机制载荷ADC和自免AD ...

热门板块方面 银河证券指出，短期内，美国对华加征关税导致投资者风险偏好下降，带动港股股市估值回调。但在国 内稳增长政策支持下，以及中长期资金稳股市举措影响下，投资者情绪逐渐稳定。中长期来看，关税对 经济的影响取决于各国关税协商谈判结果以及关税落地情况。当前港股估值处于历史中低水平，投资价 值仍然较高。 蓝筹股表现 中芯国际(00981)领跌蓝筹。截至收盘，跌4.53%，报45.35港元，成交额62.32亿港元，拖累恒指15.99 点。美国特朗普政府正以威胁国家安全为由，启动对半导体和药品进口的调查。特朗普此前表示，他将 在未来一周宣布进口半导体的关税税率。 其他蓝筹股方面，新东方-S(09901)涨3.66%，报35.4港元，贡献恒指1.41点；农夫山泉(09633)涨2.48%， 报37.15港元，贡献恒指3.03点；银河娱乐(00027)跌3.57%，报27港元，拖累恒指3.59点；石药集团 (01093)跌2.95%，报5.6港元，拖累恒指2.27点。 智通财经APP获悉，美国关税政策反复无常，港股今日高开低走，三大指数盘中曾多次翻绿。其中，恒 科指数表现最差，午后一度跌近2%。截止收盘，恒生指数涨0. ...

Core Viewpoint - The company, Ying'en Biotechnology (09606.HK), experienced a significant opening on its first trading day, with a rise of 91.33%, reaching a price of 181 HKD [1] Company Summary - Ying'en Biotechnology's stock opened at a high, indicating strong investor interest and market confidence in the company's potential [1]

Core Viewpoint - The successful IPO of InnoCare Pharma (映恩生物) marks the largest scale IPO in the Hong Kong 18A biotech sector since 2022, raising a total of $211 million, significantly exceeding initial plans, indicating strong market confidence in its innovation capabilities [1] Group 1: IPO Details - The IPO achieved a threefold increase in valuation, making it the project with the largest valuation increase among Hong Kong 18A biotech companies that raised over $50 million [1] - The international placement was oversubscribed by 14.9 times, the highest subscription multiple for 18A biotech since 2022 [1] - The company attracted 15 top international long-term funds and leading domestic public funds, with cornerstone investors agreeing to subscribe for a total of $65 million (approximately HKD 505 million) under certain conditions [1] Group 2: Company Overview - InnoCare Pharma, operational since 2020, is a global leader in the field of antibody-drug conjugates (ADC), conducting seven global clinical trials across 230 clinical trial centers in 17 countries, enrolling over 2,000 patients, with 50% of patients from overseas [2] - The company has two core products in development: DB-1303/BNT323 targeting HER2 cancers and DB-1311/BNT324 targeting B7-H3 cancers [2] Group 3: Regulatory Approvals and Collaborations - Five clinical-stage assets have received Investigational New Drug (IND) approvals from the FDA and the National Medical Products Administration of China [3] - The company's innovative ADC assets have attracted leading global biopharmaceutical companies, establishing several global partnerships with a total transaction value exceeding $6 billion [3] - The "platform technology output + global clinical collaboration" model accelerates the R&D process and reduces financial pressure, generating approximately $500 million in upfront revenue as of the end of 2024 [3] Group 4: Financial Performance and Market Recognition - The company is expected to achieve revenues of approximately RMB 1.787 billion and RMB 1.941 billion for 2023 and 2024, respectively, benefiting from the international expansion of ADCs [3] - The successful issuance of shares signifies international capital's recognition of the global capabilities of Chinese innovative pharmaceutical companies, providing a new path for 18A companies to break through valuation bottlenecks [4] - As the ADC sector continues to heat up, leading companies with platform technology and clinical differentiation advantages are likely to see further value reassessment [4]

新股預覽 ─ 映恩生物（9606.HK） 生物醫藥行業 2025 年 04 月 07 日 背景 公司是全球抗體偶聯藥物（「ADC」）領域的關鍵領跑者，致力於為癌 症和自身免疫性疾病等患者研發 ADC 創新藥物。公司擁有自主研發 的兩款核心產品，即 DB-1303/BNT323（一款靶向癌症（包括子宮內膜 癌（「1 EC」）及乳腺癌 2（「BC」））的 HER2 ADC 候選藥物）及 DB-1311/BNT324（一款靶向癌症（包括小細胞肺癌（「3 SCLC」）、去 勢抵抗性前列腺癌（「4 CRPC」）、食管鱗狀細胞癌（「5 ESCC」）及頭 頸部鱗狀細胞癌（「HNSCC」）6）的 B7-H3 ADC 候選藥物）。 概要 公司具四個全球化創新 ADC 技術平台：公司已建立四個全球化創新 ADC 技術平台。公司基於拓撲異構酶抑制劑的 DITAC 平台已顯示出 寬廣的治療窗口（即安全有效的劑量範圍），這有可能使其在臨床環 境中改善療效及安全性。拓撲異構酶是一種在 DNA 複製及轉錄中發 揮重要作用的酶。通過靶向拓撲異構酶，公司 DITAC 平台產生的 ADC 具有通過抑制 DNA 複製並造成癌細胞中的 DNA 損傷 ...