Core Viewpoint - The company, Innovent Biologics-B (09606), is planning to list on the STAR Market, pending market conditions and necessary approvals, following a successful IPO on the Hong Kong Stock Exchange that raised over HKD 1.5 billion [1] Group 1: Company Developments - Innovent Biologics' stock price increased by 5% in early trading and is currently up 3.41%, trading at HKD 345.6 with a transaction volume of HKD 599 million [1] - The company announced its intention to submit a listing application for DB-1303 (HER2ADC) for endometrial cancer in the U.S. and for breast cancer in China by 2025 [1] - The company is exploring the combination of DB-1305 (TROP2ADC) and bispecific antibodies, leading in global advancements in this area [1] Group 2: Market Insights - According to a report by CICC, the global ADC market is projected to grow from approximately USD 10.4 billion in 2023 to USD 115.1 billion by 2032 [1] - Innovent Biologics' stock price reached a peak of HKD 563.5 in September, marking a maximum increase of 495.67% from its IPO price of HKD 94.6 per share [1] - The company’s DB-1311 (B7-H3ADC) shows potential as a best-in-class treatment for prostate cancer, while DB-1310 (HER3ADC) is expected to follow suit [1]

Core Viewpoint - InnoCare Pharma-B (09606) is planning to list on the STAR Market, pending market conditions and further approvals from the board and shareholders, following a successful IPO on the Hong Kong Stock Exchange that raised over HKD 1.5 billion [1] Group 1: Company Developments - InnoCare Pharma's stock price increased by 5% in early trading, reaching HKD 345.6 with a trading volume of HKD 599 million [1] - The company was listed on the Hong Kong Stock Exchange on April 15, raising over HKD 1.5 billion, marking it as one of the largest IPOs in the Hong Kong 18A sector in the past four years [1] - The stock price peaked at HKD 563.5 in September, reflecting a maximum increase of 495.67% from the IPO price of HKD 94.6 per share [1] Group 2: Industry Insights - According to a report by CICC, the global ADC market is projected to reach approximately USD 10.4 billion in 2023 and is expected to grow to USD 115.1 billion by 2032 [1] - InnoCare Pharma plans to submit applications for its DB-1303 (HER2 ADC) for endometrial cancer in the U.S. and for breast cancer in China by 2025 [1] - The company’s DB-1311 (B7-H3 ADC) shows potential as a best-in-class candidate for prostate cancer, while DB-1310 (HER3 ADC) is expected to follow suit; DB-1305 (TROP2 ADC) and dual antibody explorations are leading globally in next-generation ADC research [1]

Core Insights - The report highlights the changes in the Hong Kong Stock Connect holdings, indicating significant increases and decreases in ownership percentages for various companies [1][2]. Group 1: Increased Holdings - The companies with the largest increases in Hong Kong Stock Connect holdings include: - Ying En Bio-B (09606) with an increase of 3.48%, bringing the total holding to 12.00% [1] - Sanhua Intelligent Control (02050) with an increase of 1.68%, totaling 13.67% [1] - Anjoy Foods (02648) with an increase of 0.74%, totaling 25.90% [1] - In the last five trading days, the top three companies with the largest increases in holdings are: - Jinli Permanent Magnet (06680) with an increase of 8.03%, totaling 30.03% [2] - Ying En Bio-B (09606) with an increase of 4.60%, totaling 12.00% [2] - ZTE Corporation (00763) with an increase of 3.55%, totaling 55.04% [2] Group 2: Decreased Holdings - The companies with the largest decreases in Hong Kong Stock Connect holdings include: - Hang Seng China Enterprises (02828) with a decrease of 10.52%, bringing the total holding to 0.96% [1] - Tracker Fund of Hong Kong (02800) with a decrease of 5.76%, totaling 0.93% [1] - Longi Green Energy (06869) with a decrease of 2.05%, totaling 63.46% [1] - In the last five trading days, the top three companies with the largest decreases in holdings are: - Longi Green Energy (06869) with a decrease of 5.78%, totaling 63.46% [2] - Jihong Co., Ltd. (02603) with a decrease of 2.74%, totaling 34.06% [2] - Chongqing Steel (01053) with a decrease of 2.18%, totaling 27.24% [2] Group 3: Long-term Trends - Over the last 20 days, the companies with the largest increases in holdings include: - Dazhong Public Utilities (01635) with an increase of 33.41%, totaling 66.40% [2] - Canggang Railway (02169) with an increase of 31.40%, totaling 43.06% [2] - Shankou Holdings (00412) with an increase of 15.66%, totaling 17.10% [2] - The companies with the largest decreases in holdings over the last 20 days include: - Hang Seng China Enterprises (02828) with a decrease of 5.89%, bringing the total holding to 0.96% [4] - Baiguoyuan Group (02411) with a decrease of 4.60%, totaling 6.81% [4] - Huizhong Network (09878) with a decrease of 4.11%, totaling 21.70% [4]

Core Insights - The top three companies by Hong Kong Stock Connect holding ratios are China Telecom (70.56%), COSCO Shipping Energy (69.91%), and GCL-Poly Energy (69.65%) [1][2] - Xiaomi Group-W, Meituan-W, and Pop Mart have seen the largest increases in holding amounts over the last five trading days, with increases of +1.967 billion, +1.692 billion, and +1.514 billion respectively [1][2] - The companies with the largest decreases in holding amounts over the same period include Innovent Biologics (-2.053 billion), SMIC (-1.978 billion), and Alibaba-W (-1.651 billion) [1][2] Hong Kong Stock Connect Latest Holding Ratios - China Telecom (00728): 9.793 billion shares, 70.56% holding ratio [1] - COSCO Shipping Energy (01138): 906 million shares, 69.91% holding ratio [1] - GCL-Poly Energy (01330): 282 million shares, 69.65% holding ratio [1] - China Shenhua (01088): 2.284 billion shares, 67.62% holding ratio [1] - Kaisa Group (01108): 168 million shares, 67.37% holding ratio [1] Recent Increases in Holdings (Last 5 Trading Days) - Xiaomi Group-W (01810): +1.967 billion, +42.788 million shares [1] - Meituan-W (03690): +1.692 billion, +17.904 million shares [1] - Pop Mart (09992): +1.514 billion, +5.498 million shares [1] - China Mobile (00941): +1.438 billion, +16.863 million shares [1] - Huahong Semiconductor (01347): +1.434 billion, +18.918 million shares [1] Recent Decreases in Holdings (Last 5 Trading Days) - Innovent Biologics (01801): -2.053 billion, -23.641 million shares [2] - SMIC (00981): -1.978 billion, -28.625 million shares [2] - Alibaba-W (09988): -1.651 billion, -10.691 million shares [2] - Tencent Holdings (00700): -1.475 billion, -2.426 million shares [2] - Yingfu Fund (02800): -1.259 billion, -48.701 million shares [2]

Key Points - The top three stocks with net inflows from southbound funds on October 15 are Ying'en Bio-B (09606) with 882 million, Alibaba-W (09988) with 831 million, and China Merchants Bank (03968) with 683 million [1][2] - The top three stocks with net outflows are the Tracker Fund of Hong Kong (02800) with -8.571 billion, Hang Seng China Enterprises (02828) with -3.336 billion, and SMIC (00981) with -660 million [1][2] - In terms of net inflow ratios, Uni-President China (00220), GX Hangseng Technology (02837), and Anjoy Foods (02648) lead with 64.68%, 64.41%, and 59.18% respectively [1][2] - The stocks with the highest net outflow ratios are China International Marine Containers (02039) at -56.29%, Fudan Zhangjiang (01349) at -56.18%, and Weishi Jiajie (00856) at -44.42% [1][2] Net Inflow Rankings - The top ten stocks by net inflow include Ying'en Bio-B (09606) with 882 million, Alibaba-W (09988) with 831 million, and China Merchants Bank (03968) with 683 million [2] - Other notable stocks in the top ten include Kuaishou-W (01024) with 497 million and Huahong Semiconductor (01347) with 433 million [2] Net Outflow Rankings - The top three stocks by net outflow are the Tracker Fund of Hong Kong (02800) with -8.571 billion, Hang Seng China Enterprises (02828) with -3.336 billion, and SMIC (00981) with -660 million [2] - Additional stocks with significant outflows include Southern Hangseng Technology (03033) with -653 million and Laopu Gold (06181) with -502 million [2] Net Inflow Ratio Rankings - The highest net inflow ratios are seen in Uni-President China (00220) at 64.68%, GX Hangseng Technology (02837) at 64.41%, and Anjoy Foods (02648) at 59.18% [2][3] - Other companies with notable inflow ratios include Jianfa International Group (01908) at 48.81% and China Gas (00384) at 44.55% [3] Net Outflow Ratio Rankings - The stocks with the highest net outflow ratios include China International Marine Containers (02039) at -56.29%, Fudan Zhangjiang (01349) at -56.18%, and Weishi Jiajie (00856) at -44.42% [3] - Other companies with significant outflow ratios include Jinyu Group (02009) at -43.17% and Weilu Group (01196) at -41.11% [3]

Core Viewpoint - The company, Ying'en Biotechnology-B, announced plans to issue ordinary shares for listing on the Shanghai Stock Exchange's Sci-Tech Innovation Board, subject to market conditions and necessary approvals [1] Group 1 - The board of directors has resolved to issue shares that will be traded in RMB [1] - The issuance is contingent upon further approval from the board, shareholder meeting, and regulatory authorities [1]

Core Viewpoint - The company, Ying'en Biotechnology (09606.HK), announced its decision to propose the issuance of RMB shares and listing on the Shanghai Stock Exchange's Sci-Tech Innovation Board, contingent upon market conditions and necessary approvals [1] Group 1 - The board of directors has made a resolution regarding the issuance of shares [1] - The listing is subject to further approval from the board, shareholders, and regulatory authorities [1]

Core Viewpoint - The company, InnoCare Pharma-B (09606.HK), announced plans to issue ordinary shares to be listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, with trading in Renminbi [1] Group 1 - The issuance of shares is subject to market conditions, further approval from the board, shareholder approval at the company's general meeting, and necessary regulatory approvals [1]

Core Viewpoint - The company, Ying'en Biotechnology-B (09606), plans to issue ordinary shares to be listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, with trading in Renminbi [1] Group 1 - The board of directors has resolved to propose the issuance of Renminbi shares, subject to market conditions, further board approval, shareholder approval at the general meeting, and necessary regulatory approvals [1] - As of the date of the announcement, there are no other plans regarding the proposed issuance of Renminbi shares, nor has the board made any applications to relevant regulatory bodies [1]

映恩生物-B(09606)公布，于2025年10月17日，公司董事会决议公司拟发行将于上海证券交易所科创板 上市并以人民币买卖的普通股。建议发行人民币股份取决于及受限于(其中包括)市场状况、董事会的进 一步批准、股东于公司股东大会上的批准及必要监管机构的批准。 于本公告日期，除建议发行人民币股份的初步建议及本公告另行披露的资料外，董事会并无有关建议发 行人民币股份的任何其他计划，亦无就建议发行人民币股份向相关监管机构作出任何申请。 ...