Core Viewpoint - The Hong Kong Innovative Drug ETF (159567) experienced a decline of 3.38% on September 4, with a trading volume of 1.427 billion yuan. The fund has shown significant growth in both share volume and total assets since its inception in January 2024 [1][2]. Group 1: Fund Performance - The Hong Kong Innovative Drug ETF (159567) was established on January 3, 2024, with a management fee of 0.50% and a custody fee of 0.10% [1]. - As of September 3, 2024, the fund's latest share volume was 6.668 billion shares, and its total assets reached 6.724 billion yuan. This represents an increase of 1586.48% in share volume and 1679.83% in total assets compared to December 31, 2023, when the share volume was 395 million shares and total assets were 378 million yuan [1]. Group 2: Trading Activity - Over the past 20 trading days, the cumulative trading amount for the Hong Kong Innovative Drug ETF (159567) was 33.138 billion yuan, with an average daily trading amount of 1.657 billion yuan. Since the beginning of the year, the cumulative trading amount over 165 trading days was 185.061 billion yuan, averaging 1.122 billion yuan per day [1]. Group 3: Fund Holdings - The current fund manager of the Hong Kong Innovative Drug ETF (159567) is Ma Jun, who has managed the fund since its inception, achieving a return of 99.52% during this period [2]. - Key holdings in the fund include: - Innovent Biologics (9.52% holding, 2.60 billion yuan market value) - WuXi Biologics (9.47% holding, 2.58 billion yuan market value) - BeiGene (8.73% holding, 2.38 billion yuan market value) - CanSino Biologics (7.62% holding, 2.08 billion yuan market value) - China National Pharmaceutical Group (7.17% holding, 1.96 billion yuan market value) - CSPC Pharmaceutical Group (6.34% holding, 1.73 billion yuan market value) - 3SBio (5.83% holding, 1.59 billion yuan market value) - Hansoh Pharmaceutical (4.54% holding, 1.24 billion yuan market value) - Zai Lab (2.86% holding, 781.055 million yuan market value) [2].

Market Overview - The A-share market experienced a significant adjustment on September 4, with major indices declining, including the Shanghai Composite Index dropping over 2% and the ChiNext Index falling by more than 3.8% [4][3] - The STAR 50 Index saw a sharp decline, with intraday losses exceeding 5% [4][3] Sector Performance - The telecommunications sector faced heavy losses, with a decline of over 8%, impacting several previously high-performing stocks [5] - Notable stocks such as Xinyi Communications and Zhongji Xuchuang experienced intraday drops exceeding 14% [7] - The electronics sector also suffered, with a decline of over 4%, and leading stock Cambrian Technology saw a drop of over 13% [7] New Energy Sector - In contrast, the new energy sector showed resilience, with the CSI New Energy Theme Index rising nearly 4% at one point [11] - Key stocks in this sector, such as EVE Energy, saw intraday gains exceeding 13%, while Zhongwei Co. and Shanneng Electric experienced gains of over 14% and 16%, respectively [14] Financial Performance of Key Companies - EVE Energy reported a revenue of 28.17 billion yuan for the first half of 2025, marking a year-on-year increase of 30.06%, with a net profit attributable to shareholders of 1.605 billion yuan [14]

Group 1 - The core viewpoint of the article highlights a collective decline in Hong Kong's innovative drug concept stocks on September 4, with significant drops in various companies [1] Group 2 - Zai Lab experienced a decline of over 10% [1] - Hengrui Medicine, Genscript Biotech, and Cloudmed fell by more than 5% [1] - WuXi AppTec dropped over 4%, while Innovent Biologics, WuXi Biologics, and Hansoh Pharmaceutical decreased by more than 3% [1]

Core Insights - The final analysis of the FORTITUDE-101 Phase III clinical study for bemarituzumab combined with mFOLFOX6 in first-line gastric cancer treatment has been completed, showing a reduction in previously observed survival benefits compared to the interim analysis [1] Group 1: Clinical Study Results - The interim analysis indicated significant statistical and clinical improvement in overall survival for the bemarituzumab plus chemotherapy compared to chemotherapy alone [1] - The final analysis revealed a weakening of the survival benefit previously observed in the interim analysis [1] Group 2: Future Plans - The company plans to wait for the results of the FORTITUDE-102 study, which evaluates bemarituzumab combined with nivolumab and chemotherapy for the same patient population, before submitting a registration application [1] - Data from the FORTITUDE-102 study is expected to be available by the end of 2025 or the first half of 2026 [1]

Group 1 - The core point of the article is that the final analysis of the FORTITUDE-101 Phase III clinical study for bemarituzumab combined with chemotherapy (mFOLFOX6) in first-line gastric cancer treatment shows a reduction in previously observed survival benefits compared to the interim analysis [1] - The interim analysis indicated a statistically and clinically significant improvement in overall survival for the bemarituzumab combination therapy compared to chemotherapy alone [1] - The results from both the interim and final analyses will be presented at an upcoming major medical conference [1] Group 2 - The company plans to wait for the results of the FORTITUDE-102 study, which aims to evaluate bemarituzumab combined with nivolumab and chemotherapy for the same patient population, before submitting a registration application [1] - Data from the FORTITUDE-102 study is expected to be available by the end of 2025 or the first half of 2026 [1]

Core Viewpoint - The final analysis of the FORTITUDE-101 Phase III clinical study for Bemarituzumab combined with mFOLFOX6 in first-line gastric cancer treatment shows a reduction in previously observed survival benefits compared to the interim analysis [1] Group 1: Clinical Study Results - The interim analysis indicated significant statistical and clinical improvement in overall survival for the combination therapy compared to chemotherapy alone [1] - The final analysis revealed a weakening of the survival benefit previously observed in the interim analysis [1] Group 2: Future Plans - The company plans to wait for the results of the FORTITUDE-102 study, which evaluates Bemarituzumab combined with Nivolumab and chemotherapy for the same patient population, before submitting a registration application [1] - Data from the FORTITUDE-102 study is expected to be available by the end of 2025 or the first half of 2026 [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，概不會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。 根據 FORTITUDE-101 研究的更新結果，本公司計劃在提交註冊申請之前等待 FORTITUDE-102 研究（其旨在評估貝瑪妥珠單抗聯合納武利尤單抗及化療用於相同的 患者人群）的結果。預計 FORTITUDE-102 研究的數據將在 2025 年底或 2026 年上半年 公佈。 承董事會命 再鼎醫藥有限公司 Zai Lab Limited 再鼎醫藥有限公司* （於開曼群島註冊成立的有限公司） （股份代號：9688） 內幕消息 安進貝瑪妥珠單抗 FORTITUDE-101 III 期臨床研究最新進展 本公告乃由再鼎醫藥有限公司（「本公司」）根據香港聯合交易所有限公司證券上市 規則（「上市規則」）第 13.09(2)(a)條及香港法例第 571 章證券及期貨條例第 XIVA 部 項下內幕消息條文（定義見上市規則）而作出。 據安進公司，本公司的合作夥伴和該項研究的申辦方，評估貝瑪妥珠單抗聯合化療 （ ...

Group 1 - Zai Lab (ZLAB.US) shares rose 1% in pre-market trading, reaching $33.43 [1] - The Hong Kong Department of Health has approved TIVDAK® (tisotumab vedotin) for the treatment of recurrent or metastatic cervical cancer in adult patients who have disease progression during or after chemotherapy [1] - Tisotumab vedotin is currently under review for a biological product license application by the National Medical Products Administration (NMPA) in China, with the application accepted in March 2025 [1] Group 2 - The closing price on August 29 was $33.10, with a pre-market price of $33.43 on September 2 [1] - The stock's highest price was $33.51, and the lowest was $32.59, with a trading volume of 378,300 shares [1] - The total market capitalization of Zai Lab is approximately $3.64 billion [1]

Core Viewpoint - The Hong Kong government has approved TIVDAK® (tisotumab vedotin) for the treatment of recurrent or metastatic cervical cancer in adult patients who have experienced disease progression during or after chemotherapy [1] Company Summary - The approval by the Hong Kong Department of Health marks a significant milestone for the company, as it expands the availability of TIVDAK® in the region [1] - TIVDAK® is currently undergoing the biological product license application review process with the National Medical Products Administration (NMPA) in China, with the application accepted in March 2025 [1]

Group 1 - The Hong Kong Innovative Drug ETF (159567) closed with a gain of 2.67% on September 1, with a trading volume of 1.985 billion yuan [1] - The fund was established on January 3, 2024, with a management fee of 0.50% and a custody fee of 0.10% [1] - As of August 29, 2024, the fund's latest share count was 6.686 billion, with a total size of 6.403 billion yuan, reflecting a year-to-date increase of 1591.03% in shares and 1594.74% in size compared to the end of 2023 [1] Group 2 - The current fund manager is Ma Jun, who has managed the fund since its inception, achieving a return of 91.54% during the tenure [2] - The top holdings of the fund include companies such as Innovent Biologics, WuXi Biologics, BeiGene, and others, with significant weightings in the portfolio [2] - The fund's liquidity is strong, with a cumulative trading amount of 34.181 billion yuan over the last 20 trading days, averaging 1.709 billion yuan per day [1]