每经AI快讯，8月12日，截至发稿，复星医药(02196.HK)涨7.55%、晶泰控股(02228.HK)涨3.22%、丽珠 医药(01513.HK)涨2.35%、科伦博泰生物-B(06990.HK)涨1.14%。 ...

Core Viewpoint - Fosun Pharma's stock opened over 7% higher, reflecting positive market sentiment following the licensing agreement with Expedition Therapeutics for the development of DPP-1 inhibitor XH-S004 outside of China and Hong Kong [1] Group 1: Licensing Agreement Details - Fosun Pharma's subsidiary, Shanghai Fosun Pharmaceutical Industry Development Co., Ltd., signed a licensing agreement with Expedition Therapeutics for the global development, production, and commercialization rights of DPP-1 inhibitor XH-S004, excluding China and Hong Kong [1] - Under the agreement, Expedition will pay up to $120 million in non-refundable upfront payments and milestone payments based on development progress, with potential sales milestone payments of up to $525 million based on annual net sales in the licensed regions [1] Group 2: Clinical Trial Status - XH-S004 is currently in Phase II clinical trials for the treatment of non-cystic fibrosis bronchiectasis in China and in Phase Ib clinical trials for chronic obstructive pulmonary disease (COPD) [1]

Industry News - Hangzhou Municipal Justice Bureau is soliciting opinions on the draft regulations to promote the development of embodied intelligent robotics industry, emphasizing collaboration between enterprises, research institutions, and industry application units [4] - Chongqing Energy Bureau and the Central China Regulatory Bureau of the National Energy Administration issued implementation rules for distributed photovoltaic power generation, requiring a minimum self-consumption ratio of 20% for projects in urban areas and 40% for other areas [4] - India Airlines announced the suspension of flights between Delhi and Washington due to operational reasons starting September 1, 2025 [4] Company News - China Rare Earth Group stated that it has never cooperated or negotiated with any institutions regarding the so-called "Rare Earth Renminbi Stablecoin" [7] - Changan Automobile announced that all current directors and executives plan to increase their shareholdings, with each individual committing to invest no less than 300,000 RMB, totaling at least 5.7 million RMB [7] - Tian Shun Co. announced that it did not participate in the New Tibet Railway project [7] - Chengdu Huami announced the successful launch of ultra-low power RISC-V MCU [7] - Luxshare Technology is planning to issue H-shares and list on the Hong Kong Stock Exchange [7] - Beijing University Pharmaceutical announced the termination of its business cooperation with Peking University International Hospital, facing risks of a complete halt in its main business [7] - Changchun High-tech announced that its subsidiary's clinical trial application for Camycin has been approved, with no similar products currently on the market [7] - Shanghai Jian Ke announced that its director Chen Wei is under investigation for serious violations of discipline and law [7] - Fosun Pharma announced the granting of rights to develop, produce, and commercialize the in-development product XH-S004, potentially receiving up to 645 million USD in milestone payments [7] - Wahaha Group responded to reports of cutting off distributors with annual sales below 3 million, stating that the changes in its distributor system are based on market strategy and cooperation willingness, and are part of normal dynamic optimization [7]

证券代码：600196 股票简称：复星医药 编号：临 2025-126 上海复星医药（集团）股份有限公司 关于控股子公司签署许可协议的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示 ●协议类型：开发、生产及商业化许可 ●协议内容：控股子公司复星医药产业授予 Expedition 于许可区域（即除中国 境内及港澳地区外的全球范围）及领域（即人类、动物疾病的诊断和治疗）开发、 生产及商业化在研产品 XH-S004 的权利。 ●特别风险提示： 管机构（包括但不限于美国 FDA、欧洲 EMA、日本 PMDA）的批准。根据国内外新药 研发经验，新药研发是项长期工作，需要经过临床试验、注册等诸多环节，具有不 确定性。因此，许可产品于许可区域相关临床试验能否完成以及能否获得上市批准， 存在不确定性。 上市进程等作为触发条件。因此，复星医药产业实际收取的开发及监管里程碑款项， 须根据相应条件及/或时间节点的达成和约定执行，存在不确定性。 成情况作为触发条件。许可产品上市后的销售情况可能受到（包括但不限于）用药 需求、市场竞 ...

8月11日，上海复星医药（集团）股份有限公司（以下简称"复星医药"）宣布，控股子公司上海复星医 药产业发展有限公司与ExpeditionTherapeutics，Inc.（以下简称"Expedition"）签订了《许可协议》，将 向Expedition授予小分子口服二肽基肽酶1（DPP-1）抑制剂XH-S004在全球（不包括中国境内及港澳地 区）范围的开发、生产及商业化权利。复星医药将保留XH-S004在中国境内及中国港澳地区的开发、生 产及商业化权利。截至目前，全球范围内尚无与XH-S004采用同一分子机制的小分子口服抑制剂获批上 市。 XH-S004为复星医药拥有自主知识产权的小分子口服DPP-1抑制剂，其通过抑制DPP-1及其激活的中性 粒细胞丝氨酸蛋白酶降低炎症反应，从而阻断感染恶性循环及由此导致的气道结构损伤；截至目前， XH-S004用于治疗非囊性纤维化支气管扩张症于中国境内处于II期临床试验阶段、用于治疗慢性阻塞性 肺疾病（COPD）于中国境内处于Ib期临床试验阶段。 复星医药董事长陈玉卿表示，XH-S004是复星医药拥有自主知识产权的治疗呼吸系统疾病的创新药物， 其独特的机制和临床价值得到了合 ...

Mergers and Acquisitions - Jinding Investment plans to acquire 53.29% stake in Nanjing Shenyuan Intelligent Technology for 213 million yuan, entering a key segment of the robotics industry [1] - Huangshanghuang is acquiring 51% stake in Fujian Lixing Food for 495 million yuan, gaining controlling interest in Lixing Food, which will become a subsidiary [1] Shareholding Increase and Transfers - All current directors and executives of Changan Automobile intend to increase their shareholdings [2] - Tianfu Communication's share transfer price is set at 88.55 yuan per share [2] - Shareholders of Changsheng Bearing, Baisheng Investment and Lu Xiaolin, are transferring 2.64% of the company shares at a price of 61.82 yuan per share [2] Daily Operations and External Investments - Changchun Gaoxin's subsidiary has received approval for clinical trial application of Camycin, with no similar products currently on the market in China [3] - Huaxi Biological has completed the registration of the main document for sodium chondroitin sulfate using fermentation methods [4] - Shanghai Yanpu plans to establish a joint venture with related parties focusing on the research, production, and sales of industrial robots [4] - Luxiao Technology is planning to issue H-shares and list on the Hong Kong Stock Exchange [4] - Fosun Pharma has granted global development, production, and commercialization rights for the in-development product XH-S004 to Expedition [4] - Hubei Yihua has launched a project with an annual production capacity of 400,000 tons of phosphate ammonium and 200,000 tons of sulfur-based compound fertilizer [4] - Chengdu Huami has released an ultra-low power consumption RISC-V MCU [4] - Samsung Medical's subsidiary Foxytech Sp.zo.o has signed a smart meter project in Poland, with a total contract value of approximately 185 million yuan [4] - Dongfang Guoxin plans to acquire 33.3529% stake in Shituo Cloud for 133 million yuan [4] - Zhiguang Electric's subsidiary has signed a sales contract for energy storage system equipment worth 204 million yuan [4] Performance Changes - Bofei Electric reported a net profit of 8.5871 million yuan for the first half of 2025, a year-on-year increase of 882.67% [9] - Xianggang Technology's net profit for the first half of 2025 reached 78.3161 million yuan, up 432.14% year-on-year [9] - Fengshan Group turned a profit with a net profit of 30.3139 million yuan in the first half of 2025 [9] - Ningbo Fubang's net profit for the first half of 2025 was 9.6797 million yuan, an increase of 194.15% year-on-year [9] - Xiechuang Data reported a net profit of 457 million yuan for the first half of the year, up 27.68% [9] - Gaozheng Mining's net profit for the first half of 2025 was 69.2 million yuan, a year-on-year increase of 25.70% [9] - Wanhua Chemical reported a net profit of 6.123 billion yuan for the first half of the year, a decrease of 25.1% year-on-year [10]

Group 1 - Lushow Technology is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy and brand image [1] - The company has not yet finalized the details and will need to submit the plan for board and shareholder approval, as well as regulatory review [1] Group 2 - Shanhe Intelligent's subsidiary AVMAX has received an insurance compensation of approximately 229.65 million USD, impacting the company's net profit by 126 million RMB [2] - The insurance payment is equivalent to about 1.64 billion RMB after currency conversion, and it will be recorded as non-operating income, representing 172.92% of the previous year's net profit [2] Group 3 - Changan Automobile's board and senior management plan to increase their holdings in the company, with a total investment of at least 5.7 million RMB [3] - The increase in shareholding is aimed at boosting investor confidence and demonstrating recognition of the company's long-term value [3] Group 4 - Chengdu Huamei has successfully launched a low-power RISC-V MCU, suitable for IoT and wearable devices [4] Group 5 - Shanghai Port Bay has clarified that its main business is geotechnical engineering, with both perovskite solar cell and commercial aerospace businesses contributing less than 0.5% to its revenue [5] - Both segments are currently operating at a loss, and the company emphasizes that these developments do not materially affect its core operations [5] Group 6 - Tiens Holdings has stated that it has not participated in the New Tibet Railway project, despite recent market speculation [6] Group 7 - Fosun Pharma has granted rights to Expedition for the development and commercialization of the investigational product XH-S004, with potential milestone payments totaling up to 645 million USD [7][8] - The agreement includes an upfront payment of up to 120 million USD and additional payments based on sales performance [8] Group 8 - Changchun High-tech's subsidiary has received approval for clinical trials of a new drug, with no similar products currently available in the domestic market [9] Group 9 - Peking University Pharmaceutical faces significant revenue loss due to the termination of its long-term service contract with Peking University International Hospital, potentially reducing sales by approximately 600 million RMB in 2025 [10] - The company is exploring new directions for transformation, but there is uncertainty regarding the outcome [10] Group 10 - Jinying Heavy Industry has confirmed that it has not engaged in any business with the New Tibet Railway Company, and the impact on its operations is expected to be limited [11] Group 11 - ST Suwu's subsidiary is seeking 1.6 billion RMB in damages from Regen Biotech due to a breach of contract, with the arbitration process currently underway [12] Group 12 - Wanhu Chemical reported a net profit of 6.123 billion RMB for the first half of the year, a decrease of 25.1% year-on-year, attributed to weak demand in overseas markets [13] - Xianggang Technology achieved a net profit of 78.32 million RMB, a significant increase of 432.14% year-on-year, driven by strong performance in its packaging and printing segment [14] - Desay SV reported a net profit of 1.223 billion RMB, up 45.82% year-on-year, with a revenue increase of 25.25% [15][16] - Action Education's net profit decreased by 3.51% year-on-year, with plans to distribute cash dividends [17]

本次合作有利于进一步加快许可产品在全球范围的临床开发和商业化进程，并持续拓展本集团创新产品 的海外布局。 复星医药（600196）(600196.SH)发布公告，2025年8月11日，公司控股子公司复星医药产业与 Expedition签订《许可协议》，复星医药产业授予Expedition除中国境内及港澳地区以外的全球范围、许 可领域内开发、生产及商业化在研产品XH-S004的权利。本次合作后，集团仍拥有许可产品于中国境内 及港澳地区的开发、生产及商业化权利。 XH-S004为集团拥有自主知识产权的小分子口服DPP-1抑制剂，其通过抑制DPP-1及其激活的中性粒细 胞丝氨酸蛋白酶降低炎症反应，从而阻断感染恶性循环及由此导致的气道结构损伤。该在研药品的潜在 适应症包括非囊性纤维化支气管扩张症、慢性阻塞性肺疾病等。根据约定，Expedition将就本次合作向 复星医药产业支付至多1.2亿美元不可退还的首付款、开发及监管里程碑付款，此外，基于许可产品于 许可区域的年度净销售额达成情况，由Expedition向复星医药产业依约支付至多5.25亿美元的销售里程 碑款项。 ...

Core Insights - Fosun Pharma has signed a licensing agreement with Expedition Therapeutics for the development, production, and commercialization rights of the small molecule oral DPP-1 inhibitor XH-S004 globally, excluding mainland China and Hong Kong and Macau [1][2] - Fosun Pharma will retain the rights for XH-S004 in mainland China and Hong Kong and Macau [1] - Expedition will pay up to $120 million in non-refundable upfront payments and milestone payments based on development and annual net sales achievements, potentially totaling up to $525 million [1] Company Overview - XH-S004 is a small molecule oral DPP-1 inhibitor developed by Fosun Pharma, which reduces inflammation by inhibiting DPP-1 and its activated neutrophil serine proteases, thereby blocking the vicious cycle of infection and airway structural damage [2] - Currently, XH-S004 is in Phase II clinical trials for the treatment of non-cystic fibrosis bronchiectasis and in Phase Ib clinical trials for chronic obstructive pulmonary disease (COPD) in mainland China [2] - There are no approved small molecule oral inhibitors with the same molecular mechanism globally as of now [2]

8月11日，复星医药（600196）(600196.SH,02196)发布公告，控股子公司上海复星医药产业发展有限公 司("复星医药产业")与Expedition Therapeutics,Inc.("Expedition")签订《许可协议》，将向Expedition授予 小分子口服二肽基肽酶1(DPP-1)抑制剂XH-S004在全球(不包括中国境内及港澳地区)范围的开发、生产 及商业化权利。复星医药产业将保留XH-S004在中国境内及港澳地区的开发、生产及商业化权利。 XH-S004为复星医药产业拥有自主知识产权的小分子口服DPP-1抑制剂，其通过抑制DPP-1及其激活的 中性粒细胞丝氨酸蛋白酶降低炎症反应，从而阻断感染恶性循环及由此导致的气道结构损伤;截至目 前，XH-S004用于治疗非囊性纤维化支气管扩张症于中国境内处于II期临床试验阶段、用于治疗慢性阻 塞性肺疾病(COPD)于中国境内处于Ib期临床试验阶段。截至目前，全球范围内尚无同一分子机制的小 分子口服抑制剂获批上市。 根据协议，Expedition将向复星医药产业支付至多1.2亿美元不可退还的首付款、开发里程碑付款，未来 还将基于XH-S004 ...