Core Viewpoint - Fosun Pharma's subsidiary, Suzhou Er Ye Pharmaceutical, has received acceptance for the drug registration application of sodium heparin injection by the National Medical Products Administration, indicating progress in the company's drug development pipeline [1]. Group 1: Drug Information - The sodium heparin injection is a self-developed chemical drug by the group [1]. - The drug is intended for multiple uses, including the prevention and treatment of venous thrombosis and pulmonary embolism, as well as for patients at risk of thromboembolic diseases due to major surgeries [1]. - Additional applications include treatment for atrial fibrillation with embolism, acute and chronic consumptive coagulopathy, and as an anticoagulant in various medical procedures such as blood transfusions and dialysis [1].

公司名稱: 上海復星醫藥(集團)股份有限公司 ( 於中華人民共和國註冊成立的股份有限公司) 呈交日期: 2025年12月2日 FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02196 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 551,940,500 | RMB | | 1 | RMB | | 551,940,500 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 551,940,500 | RMB | | 1 | R ...

FF301 致：香港交易及結算所有限公司 公司名稱: 上海復星醫藥(集團)股份有限公司 ( 於中華人民共和國註冊成立的股份有限公司) 呈交日期: 2025年12月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02196 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 551,940,500 | RMB | | 1 | RMB | | 551,940,500 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 551,940,500 | RMB | | 1 | RMB | | 551,940,500 | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: ...

Core Insights - Fosun Pharma has successfully treated over 84 million severe malaria patients in Africa with its artemisinin-based products, showcasing its commitment to addressing unmet clinical needs [1] - The company has established a clear strategic focus for the 14th Five-Year Plan, emphasizing innovation, deep internationalization, and embracing AI as key pillars for high-quality development [1][7] - Fosun Pharma has achieved significant milestones in innovation, including the launch of 12 self-developed and licensed innovative drugs during the 14th Five-Year Plan [1][4] Innovation and Product Development - Fosun Pharma has developed several firsts in the industry, including China's first self-developed biosimilar drug Hanlikang and the first CAR-T cell therapy product Yikaida [2][3] - The company has built a comprehensive innovation system with four core technology platforms: small molecules, antibodies, ADCs, and cell therapy, enabling full-cycle innovation from R&D to commercialization [3] Financial Performance - In the first three quarters of 2025, Fosun Pharma's innovative drug revenue exceeded 6.7 billion yuan, reflecting an 18.09% year-on-year growth [4] - The company aims to continue optimizing its innovation pipeline value over the next five years, focusing on unmet clinical needs [4] Global Expansion Strategy - Fosun Pharma has actively expanded its global market presence, with its anti-tumor innovative drug approved in approximately 40 countries and regions during the 14th Five-Year Plan [5][6] - The company has established a marketing team of over 1,000 people and a network covering more than 110 countries, emphasizing localized strategies for different markets [6] Embracing AI in Development - Fosun Pharma is committed to integrating AI into its operations, viewing it as a tool for enhancing R&D efficiency and organizational evolution [7][8] - The company has launched its internally developed PharmAID decision-making platform, which is already being utilized in various stages of drug development [7][8]

Overview - Shanghai Fosun Pharmaceutical (Group) Co., Ltd. announced that its subsidiary, Shanghai Fuhong Hanlin Biotechnology Co., Ltd., received approval from the National Medical Products Administration for clinical trials of HLX37 injection, a bispecific antibody for treating advanced/metastatic solid tumors [2][3]. Group 1 - HLX37 is a recombinant humanized bispecific antibody targeting PD-L1 and VEGF, developed for the treatment of advanced/metastatic solid tumors. Preclinical studies indicate that HLX37 can inhibit tumor growth and has good safety profiles [3]. - As of October 2025, the cumulative R&D investment in HLX37 by the group is approximately RMB 50.23 million (unaudited) [3]. - According to IQVIA MIDASTM data, the global sales of PD-1/PD-L1 and VEGF bispecific antibody products are projected to be around USD 920 million in 2024, with the first product expected to be approved in May 2024 [3].

Core Viewpoint - Shanghai is emerging as a global hub for biopharmaceutical innovation, with local companies leveraging innovation, transformation, and internationalization to enhance their competitiveness on the world stage [4][6]. Group 1: Innovation - Junshi Bioscience has focused on unmet clinical needs, successfully launching its PD-1 monoclonal antibody, which has reshaped the landscape for domestic innovative drugs in international markets [4][5]. - Fosun Pharma has achieved significant milestones in innovation, including the development of China's first self-developed CAR-T cell therapy product and the first PD-1 monoclonal antibody approved for first-line treatment of small cell lung cancer [8][9]. - The company has established a comprehensive innovation system, with over 12 innovative drugs launched during the 14th Five-Year Plan period, focusing on oncology, immune inflammation, and chronic diseases [11][12]. Group 2: Transformation - First Pharmaceutical has adapted to the challenges posed by e-commerce in the pharmaceutical retail sector by integrating smart healthcare services, revitalizing its traditional pharmacy model [5][30]. - Fosun Pharma's transformation journey aligns with the rapid evolution of China's innovative drug industry, emphasizing a combination of generics and original innovations [5][11]. - Seer Bio has expanded its research into broader biotoxin treatments after mastering snake venom therapies, indicating a strategic shift towards a wider range of biological toxin therapies [5][26]. Group 3: Internationalization - Fosun Pharma has successfully penetrated international markets, with its anti-tumor innovative drug, Slulizumab, approved in approximately 40 countries, showcasing the company's global strategy [12][13]. - Junshi Bioscience has transitioned from a "single-point breakthrough" to "platform innovation," with its core product, Toripalimab, now available in major markets including the US and EU [16][17]. - The company is building a global commercialization network through partnerships and local teams, aiming to enhance its international presence [22][23]. Group 4: Market Challenges and Opportunities - First Pharmaceutical faces significant challenges in the pharmaceutical distribution industry, including regulatory changes, evolving sales models, and increased consumer expectations for professional services [32][33]. - Despite these challenges, First Pharmaceutical has reported substantial revenue growth, with sales increasing from 1.398 billion yuan in 2021 to 1.915 billion yuan in 2024 [32]. - The company is strategically focusing on the silver economy, aiming to develop integrated services for the elderly, aligning with national policies on aging [34][35].

Group 1: SAIC Motor Corporation - In November, SAIC Motor's total vehicle sales reached 460,800 units, a year-on-year decrease of 3.75% [1] - New energy vehicle sales were 209,400 units, showing a year-on-year increase of 19.75% [1] - Cumulative vehicle sales from January to November reached 4,108,100 units, a year-on-year increase of 16.38% [1] - SAIC's subsidiary plans to establish a private equity fund focused on the smart electric vehicle industry with an initial subscription size of 1.09 billion yuan [1] Group 2: Top Group - Top Group is planning to issue H-shares and list on the Hong Kong Stock Exchange [2] - The company is in discussions with relevant intermediaries regarding the specifics of the H-share listing [2] Group 3: Ningbo Fuda - Ningbo Fuda's subsidiary intends to publicly sell 100% equity of its subsidiary, Hekou Yingzhou Cement Company, with an assessed value of 1.5752 million yuan [4] Group 4: Fuguang Co., Ltd. - Fuguang Co., Ltd. plans to sell a 25% stake in its associate company, Xiaotunpai, for 67.2636 million yuan [5] Group 5: Puluo Pharmaceutical - Puluo Pharmaceutical's subsidiary received a drug registration certificate for Amoxicillin and Clavulanate Potassium Tablets, used for various infections [6][7] Group 6: Fosun Pharma - Fosun Pharma's subsidiary received approval to conduct Phase I clinical trials for a dual-specific antibody injection for treating advanced solid tumors [8] Group 7: Far East Group - Far East Group's subsidiaries won contracts totaling 2.383 billion yuan in November [9] Group 8: Samsung Medical - Samsung Medical's subsidiary is expected to win a procurement project from the State Grid worth approximately 124 million yuan [10] Group 9: Changhua Group - Changhua Group received a development notification from a domestic automaker, with an expected total sales amount of approximately 732 million yuan over five years [12] Group 10: Xinbang Intelligent - Xinbang Intelligent's application for issuing shares to acquire Wuxi Yindichip Microelectronics has been accepted by the Shenzhen Stock Exchange [14] Group 11: Jinjing Development - Jinjing Development's subsidiary won a residential and commercial land bid in Tianjin for 474 million yuan [16] Group 12: Guohong Holdings - Guohong Holdings signed an investment framework agreement to develop a strategic emerging industry park in Tanzhou Town [17] Group 13: Hanma Technology - Hanma Technology reported a 149.94% year-on-year increase in truck sales in November, totaling 2,002 units [22] Group 14: Yufeng Group - Yufeng Group decided to terminate its plan to issue A-shares due to the expiration of authorization and market conditions [24] Group 15: Zhenhua Electric - Zhenhua Electric's subsidiary plans to invest up to 201 million yuan in a private equity fund focused on specific industries, including new energy [28] Group 16: Fuao Co., Ltd. - Fuao Co., Ltd. completed the transfer of 40% equity in Fuao Wan'an for 26.222 million yuan [29] Group 17: Baotailong - Baotailong plans to acquire an additional 2.83% stake in its subsidiary, totaling 15 million yuan [31] Group 18: Zhongchao Holdings - Zhongchao Holdings' subsidiaries won projects totaling 1.318 billion yuan [32] Group 19: Annie Co., Ltd. - Annie Co., Ltd. announced a potential change in control, leading to a temporary suspension of its stock [34] Group 20: Ganfeng Lithium - Ganfeng Lithium's subsidiary plans to issue $100 million in exchangeable notes [38]

Core Viewpoint - Fosun Pharma's subsidiary, Shanghai Fuhong Hanlin Biotech Co., Ltd., has received approval from the National Medical Products Administration for clinical trials of HLX37, a dual-specific antibody injection for treating advanced/metastatic solid tumors [1] Group 1 - The approved product, HLX37, is a recombinant humanized anti-PD-L1 and anti-VEGF dual-specific antibody injection [1] - The company plans to conduct Phase I clinical trials for HLX37 in mainland China once conditions are met [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，概不對因本公告全部或任何部份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。 上 海 復 星 醫 藥（ 集 團 ）股 份 有 限 公 司 Shanghai Fosun Pharmaceutical (Group) Co., Ltd.* （於中華人民共和國註冊成立的股份有限公司） （股份代號：02196） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列上海復星醫藥（集團）股份有限公司（「本公司」）在上海證券交易所網站刊登的《關於 控股子公司藥品獲臨床試驗批准的公告》，僅供參閱。 承董事會命 上海復星醫藥（集團）股份有限公司 董事長 陳玉卿 中國，上海 2025 年1 2 月1 日 * 僅供識別 证券代码：600196 股票简称：复星医药 编号：临 2025-185 上海复星医药（集团）股份有限公司 关于控股子公司药品获临床试验批准的公告 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 ...

Core Insights - Fosun Pharma's subsidiary Shanghai Fuhong Hanlin Biotechnology Co., Ltd. has received approval from the National Medical Products Administration to conduct clinical trials for HLX37 injection [1] - The Phase I clinical trial for HLX37 is planned to be conducted in mainland China, excluding Hong Kong, Macau, and Taiwan [1] - HLX37 is a recombinant humanized bispecific antibody targeting PD-L1 and VEGF, intended for the treatment of advanced/metastatic solid tumors [1]