Core Insights - The Chinese biotechnology sector has seen a surge in license-out transactions this year, reflecting an overall enhancement in China's pharmaceutical innovation capabilities and increasing global market recognition [1] - Suzhou Xingming Youjian, a biotech company incubated by the Fuxing Pharmaceutical's Rehabilitative Capital New Drug Innovation Fund, has entered a strategic partnership with UK-based AviadoBio for the overseas development and commercialization of the innovative optogenetic gene therapy UGX202 [1] - The potential total deal value for the collaboration exceeds $400 million, with AviadoBio acquiring exclusive development and commercialization rights outside Greater China, while Xingming Youjian stands to gain multiple revenue streams including upfront payments, milestone payments, and sales shares [1] Company Overview - Xingming Youjian is part of the Rehabilitative Capital New Drug Innovation Fund established by Fuxing Pharmaceutical, focusing on innovative gene therapies for ophthalmic diseases [2] - Since its inception in 2020, the Rehabilitative Capital New Drug Innovation Fund has built an ecosystem covering cutting-edge areas such as stem cells, RNA therapies, gene editing, and nucleic acid drugs, incubating over ten high-tech companies [2] - The collaboration with AviadoBio is expected to accelerate the global clinical and commercialization process of UGX202, serving as an important model for Chinese innovative pharmaceutical companies to engage in global competition [2] Industry Trends - The Chinese pharmaceutical industry is transitioning from a "follower" to a "runner" and even a "leader" in innovation, with Fuxing Pharmaceutical enhancing its capabilities through diverse innovation models including independent research, collaborative development, licensing, fund incubation, and industrial investment [2] - As new therapies such as gene and cell therapies gradually enter clinical and market phases, companies with source innovation capabilities and global resource integration abilities are anticipated to occupy core positions in the future pharmaceutical landscape [2]

Core Viewpoint - Fosun Pharma is optimizing its asset allocation and strengthening long-term stable development through asset sales, with a focus on core business and operational efficiency [2][3]. Asset Sales - Fosun Pharma's subsidiary plans to transfer 100% equity of Shanghai Clone, with the proceeds aimed at continuous investment in innovative drug business [3]. - Since 2021, Fosun Pharma has raised over 13 billion yuan through systematic asset disposals, with several transactions exceeding 1 billion yuan [4][6]. - Notable transactions include the sale of 25.0011% equity in Tianjin Pharmaceutical for 1.433 billion yuan and 29.0200% equity in Yanan Bio for 1.596 billion yuan [4]. Financial Position - As of mid-2025, Fosun Pharma's short-term debt totals approximately 22.646 billion yuan, leading to a debt repayment gap of 9.687 billion yuan when compared to cash reserves [8]. - The company has a liquidity gap of about 20.384 billion yuan when comparing current liabilities to cash and trading financial assets [8]. - The asset-liability ratio stood at 49.24% as of mid-2025, reflecting a slight increase from the previous year [10]. Performance Metrics - Fosun Pharma's revenue has been declining for two and a half years, with a notable trend of increasing profits without revenue growth since 2024 [12][13]. - In 2023, the company reported a revenue of 41.4 billion yuan, down 5.81% year-on-year, while net profit decreased by 36.04% to 2.386 billion yuan [12]. - Despite revenue challenges, the company has maintained significant R&D investments, totaling over 14 billion yuan from 2022 to mid-2025 [14].

Core Viewpoint - Fosun Pharma's subsidiary, Fosun Wanguo (Jiangsu) Pharmaceutical Group, has received notification from the National Medical Products Administration regarding the withdrawal of its registration application for Dihydroartemisinin-Ruxolitinib capsules [2] Group 1 - The announcement was made on the evening of October 14 [2] - The withdrawal of the registration application indicates a strategic decision by the company [2]

Core Insights - The 2025 Zhangjiang Pharmaceutical Valley Global Promotion Conference and International Innovation Conference has commenced, focusing on the full-cycle development system from source innovation to global market application [1][2] - Zhangjiang Pharmaceutical Valley has approved 29 first-class domestic new drugs, with seven innovative drugs set to launch in 2025, showcasing strong source innovation capabilities [1][2] - The establishment of the Zhangjiang Pharmaceutical Valley Comprehensive Service Center aims to enhance industry service capabilities and support the entire lifecycle of enterprises [2] Group 1 - The conference gathered leaders from the National Medical Products Administration, local governments, academicians, top scientists, industry leaders, and capital representatives to discuss the development of the pharmaceutical industry [1] - Seven innovative drugs from companies such as Inpai Pharmaceutical and Fuxing Pharmaceutical are expected to launch in 2025, including the first human-derived long-acting GLP-1 receptor agonist and the first gene therapy drug [1][2] - A total of 38 innovative medical device products have been approved, with four products from Xuan Yu Medical and Shang Yang Medical successfully launched in 2025, marking advancements in cardiac electrophysiology [1][2] Group 2 - Zhangjiang Pharmaceutical Valley has become a global platform for pharmaceutical innovation, with 11 global innovative drugs launched in China to date [2] - The Comprehensive Service Center integrates industry resources and provides a "1+1+1" service system, including a scientist salon, a results display center, and a one-stop service center [2] - The future focus will be on strengthening the entire innovation ecosystem, from source innovation to clinical application, to establish an internationally influential biopharmaceutical industry innovation hub [2]

Core Viewpoint - Fosun Pharma (02196) announced that its subsidiary, Fosun Wanguo (Jiangsu) Pharmaceutical Group Co., Ltd., has received notification from the National Medical Products Administration (NMPA) regarding the withdrawal of the registration application for the drug Dihydrosuccinimide Ruxolitinib Capsules (project code: SAF-189) [1] Group 1 - The drug is an innovative small molecule chemical drug primarily intended for the treatment of non-small cell lung cancer (ALK+) and non-small cell lung cancer (ROS1+) [1] - The registration application for this drug for the treatment of locally advanced or metastatic non-small cell lung cancer (NSCLC) patients with anaplastic lymphoma kinase (ALK) positivity was accepted by the NMPA in March 2025 [1] - The withdrawal of the registration application does not signify the termination of the project; Fosun Wanguo will enhance the registration materials according to the latest technical requirements from the NMPA and will resubmit the application as soon as possible [1] Group 2 - The withdrawal of the registration application is not expected to have a significant impact on the current performance of the group (including the company and its subsidiaries) [1]

Core Points - Fosun Pharma's subsidiary, Fosun Wanguo, has received notification from the National Medical Products Administration (NMPA) regarding the withdrawal of the registration application for the drug Dihydrosuccinimide Capsules [1] - The drug is an innovative small molecule chemical drug intended primarily for the treatment of non-small cell lung cancer (ALK+ and ROS1+) [1] - The registration application for the drug was accepted in March for the treatment of locally advanced or metastatic non-small cell lung cancer (NSCLC) patients who are ALK positive [1] - The withdrawal of the registration application does not signify the termination of the project; Fosun Wanguo plans to improve the registration materials according to the latest technical requirements from the NMPA and will resubmit the application [1]

Core Viewpoint - Fosun Pharma's subsidiary, Fosun Wanguo, has received notification from the National Medical Products Administration (NMPA) regarding the withdrawal of the registration application for the drug SAF-189, an innovative small molecule chemical drug intended for treating non-small cell lung cancer (NSCLC) [1] Group 1 - The drug SAF-189 was primarily aimed at treating ALK+ and ROS1+ non-small cell lung cancer [1] - The registration application for SAF-189 was accepted by the NMPA in March 2025 for treating locally advanced or metastatic NSCLC patients with ALK positivity [1] - The withdrawal of the registration application does not signify the termination of the project; Fosun Wanguo plans to enhance the registration materials according to the latest technical requirements from the NMPA and will resubmit the application promptly [1] Group 2 - The withdrawal of the registration application is not expected to have a significant impact on the current performance of the group, which includes the company and its subsidiaries [1]

Core Insights - Fosun Pharma's subsidiary, Fosun Wanguo, has received notification from the National Medical Products Administration (NMPA) regarding the withdrawal of the registration application for the drug SAF-189, an innovative small molecule chemical drug intended for treating non-small cell lung cancer (NSCLC) [1] Group 1 - The drug SAF-189 was initially accepted for registration in March 2025 for treating ALK-positive locally advanced or metastatic NSCLC patients [1] - The withdrawal of the registration application is not a termination of the project; Fosun Wanguo plans to improve the registration materials according to the latest technical requirements from the NMPA and will resubmit the application as soon as possible [1] - The withdrawal of the registration application is not expected to have a significant impact on the current performance of the group, which includes the company and its subsidiaries [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。 董事會會議日期 上 海 復 星 醫 藥（ 集 團 ）股 份 有 限 公 司（「 本 公 司 」）董 事 會（「 董 事 會 」）茲 通 告 謹 定 於 2025 年 10月28日（ 星期二 ）舉行董事會會議，藉以（ 其中包括 ）考慮及通過本公司及其附屬公司截至 2025年9月30日止九個月的第三季度業績並予以刊發。 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） 中國，上海 2025年10月14日 於本公告日期，本公司之執行董事為陳玉卿先生、關曉暉女士、文德鏞先生及王可心先生；本公司之非執行 董事為陳啟宇先生及潘東輝先生；本公司之獨立非執行董事為余梓山先生、王全弟先生、Chen Penghui先生 及楊玉成先生；以及本公司 ...

Core Viewpoint - Fosun Pharma's subsidiary, Fosun Wanguo, has withdrawn the registration application for the innovative drug SAF-189 (Dibutyl Succinate Reversitin Capsules) intended for treating non-small cell lung cancer (ALK+ and ROS1+) [1] Group 1: Company Actions - Fosun Wanguo received a notification from the National Medical Products Administration (NMPA) regarding the withdrawal of the registration application for SAF-189 [1] - The withdrawal is not a termination of the project; Fosun Wanguo plans to improve the registration materials according to the latest technical requirements from the NMPA and will resubmit the application as soon as possible [1] - The withdrawal of the registration application will not have a significant impact on the current performance of the group, which includes the company and its subsidiaries [1] Group 2: Drug Information - SAF-189 is an innovative small molecule chemical drug primarily aimed at treating ALK-positive and ROS1-positive non-small cell lung cancer [1] - The drug's registration application for treating locally advanced or metastatic non-small cell lung cancer (NSCLC) patients with ALK positivity was accepted by the NMPA in March 2025 [1]