Core Viewpoint - Heng Rui Medicine announced that its subsidiary, Fujian Shengdi Pharmaceutical Co., Ltd., has had its HRS-5635 injection included in the list of proposed breakthrough therapeutic products by the National Medical Products Administration, with a public announcement period of 7 days [1] Group 1 - HRS-5635 injection is a new generation liver-targeted HBV siRNA drug independently developed by the company [1] - The phase II clinical study results indicate that HRS-5635 has the potential to improve functional cure rates for chronic hepatitis B, while also demonstrating good safety characteristics [1]

Core Viewpoint - Heng Rui Medicine announced that its subsidiary, Suzhou Shengdiya Biopharmaceutical Co., Ltd., received a "Notice of Acceptance" from the National Medical Products Administration for the new indication application of SHR-A1811 (Injection of Rukang Qutuzumab) for the treatment of locally advanced or metastatic HER2-positive adult breast cancer patients who have previously received one or more anti-HER2 therapies. The application has been included in the priority review process [1] Group 1 - The application for SHR-A1811 has been accepted for a new indication [1] - The drug is intended for patients with locally advanced or metastatic HER2-positive breast cancer [1] - The application has been prioritized for review by the National Medical Products Administration [1]

Group 1: Key Insights on Macro Economy - In August, industrial added value and retail sales growth rates fell below expectations, with industrial added value growing by 5.2% year-on-year, and retail sales increasing by 3.4% year-on-year [6][8][9] - Fixed asset investment growth for January to August was only 0.5%, with private investment declining by 2.3% [7][9] - The report highlights the need for macro policies to stabilize growth, particularly in light of external uncertainties and domestic climate factors [6][9] Group 2: Real Estate Industry Analysis - In August, new home prices in 70 major cities fell by 0.3% month-on-month, while second-hand home prices decreased by 0.6% [10][11] - The sales area for residential properties in August was 57.44 million square meters, down 10.6% year-on-year, marking the lowest level since 2009 [17][18] - Real estate development investment in August was 672.9 billion yuan, a year-on-year decline of 19.5%, with new construction area down 20.3% [17][20] Group 3: Transportation Sector Insights - SF Holding reported a revenue of 146.858 billion yuan for the first half of 2025, a year-on-year increase of 9.26%, with net profit rising by 19.37% [25][26] - The company’s express logistics segment grew by 10.4%, while supply chain and international segments increased by 9.7% [27]

Core Viewpoint - Heng Rui Medicine has received approval from the National Medical Products Administration for clinical trials of three injectable drugs, indicating progress in its oncology pipeline [1] Group 1: Clinical Trial Approvals - The company's subsidiaries, Suzhou Shengdiya Biopharmaceutical Co., Ltd. and Shanghai Shengdi Medicine Co., Ltd., have been granted clinical trial approval for SHR-1826, Adebali monoclonal antibody injection, and Bevacizumab injection [1] - SHR-1826 is an antibody-drug conjugate targeting c-MET, designed to selectively bind to tumor cell surface antigens and induce cell death [1] - Adebali monoclonal antibody injection, a humanized anti-PD-L1 monoclonal antibody, aims to block the PD-1/PD-L1 pathway, reactivating the immune system's anti-tumor activity [1] Group 2: Product Development and Market Status - Adebali monoclonal antibody injection (brand name: Ailili) was approved for market in March 2023 for first-line treatment of extensive-stage small cell lung cancer in combination with carboplatin and etoposide [1] - Bevacizumab, a humanized anti-VEGF monoclonal antibody, was co-developed by domestic and foreign pharmaceutical companies and has been marketed since 2004 in the U.S. under the brand name Avastin [1] - The company's Bevacizumab injection was approved for market in June 2021, with multiple formulations currently available in China and globally [1]

Core Viewpoint - The company has received approval from the National Medical Products Administration for clinical trials of three injectable drugs, indicating progress in its oncology pipeline [1] Group 1: Drug Approvals - The company's subsidiary, Suzhou Shengdiya Biopharmaceutical Co., Ltd., and Shanghai Shengdi Pharmaceutical Co., Ltd. have received clinical trial approval for SHR-1826, Adebali monoclonal antibody injection, and Bevacizumab injection [1] - SHR-1826 is an antibody-drug conjugate targeting c-MET, designed to selectively bind to tumor cell surface antigens and induce cell death [1] - Adebali monoclonal antibody injection, a humanized anti-PD-L1 monoclonal antibody, aims to block the PD-1/PD-L1 pathway, reactivating the immune system's anti-tumor activity [1] - Adebali monoclonal antibody injection (brand name: Ailili) was approved for market in March 2023 for first-line treatment of extensive-stage small cell lung cancer in combination with carboplatin and etoposide [1] - Bevacizumab is a humanized anti-VEGF monoclonal antibody, co-developed by Genentech and a Chinese pharmaceutical company, and has been marketed globally since its approval in the U.S. in 2004 [1] - The company's Bevacizumab injection was approved for market in June 2021, with multiple formulations currently available in China [1]

Core Viewpoint - Heng Rui Medicine (600276) has announced a 2025 A-share employee stock ownership plan aimed at establishing a profit-sharing mechanism among the company, shareholders, and employees to enhance employee motivation, creativity, cohesion, and overall competitiveness, thereby promoting the company's long-term and sustainable development [1] Summary by Relevant Sections - The employee stock ownership plan involves the repurchase of up to 14 million A-shares, accounting for approximately 0.21% of the company's total share capital as of the announcement date [1] - The repurchase price is set at 30.95 yuan per share, with the final number of shares held under the plan to be determined based on actual execution [1] - The total number of employees participating in the plan is expected to be no more than 1,316 (excluding reserved shares), with a maximum of 9 individuals from the board (excluding independent directors), supervisors, and senior management [1]

Core Viewpoint - Heng Rui Medicine (01276) has announced a 2025 A-share employee stock ownership plan aimed at establishing a profit-sharing mechanism among the company, shareholders, and employees to enhance employee motivation, creativity, cohesion, and overall company competitiveness, promoting long-term and sustainable development [1] Summary by Relevant Sections - Employee Stock Ownership Plan Details - The plan involves the acquisition of up to 14 million A-shares (including reserved shares), accounting for approximately 0.21% of the company's total share capital as of the announcement date [1] - The acquisition price is set at 30.95 yuan per share, with the final number of shares held under the plan to be determined based on actual execution [1] - Participation and Eligibility - The total number of employees participating in the plan is expected to be no more than 1,316 (excluding reserved shares) [1] - Among the participants, the number of company directors (excluding independent directors), supervisors, and senior management is limited to no more than 9 (excluding reserved shares), with the final number of participants and subscription details to be confirmed based on actual employee contributions [1]

Core Insights - The innovative drug HRS-1893 has achieved a significant breakthrough with a licensing agreement between Heng Rui Medicine and Braveheart Bio, with a potential total transaction value of nearly 8 billion RMB [1][5] - The collaboration highlights the international recognition of China's innovative drug research and the focus on Southeast University's organ-on-a-chip technology [1][5] Group 1: Drug Development and Mechanism - HRS-1893 is designed to treat obstructive hypertrophic cardiomyopathy and functions as a selective inhibitor of cardiac myosin [3] - The drug's development involved collaboration with Professor Gu Zhongze's team at Southeast University, utilizing organ-on-a-chip technology for cell activity screening [3][7] Group 2: Clinical Trials and Licensing Agreement - HRS-1893 received approval for clinical trials in May 2023, marking it as the first new drug in China to use organ-on-a-chip data for such approval [5] - Braveheart Bio will have exclusive rights to develop, produce, and commercialize HRS-1893 globally, excluding certain regions in China, with Heng Rui Medicine set to receive an upfront payment of $7.5 million and potential milestone payments totaling up to $1.013 billion [5][8] Group 3: Technological Advancements and Future Plans - The organ-on-a-chip team at Southeast University has made significant advancements in key technologies over the past decade, achieving breakthroughs in high-precision 3D printing and functional biomaterials [7] - Future plans include further technological innovation and collaboration with more pharmaceutical companies to create new pathways for drug development and precision medicine [8]

证券简称：恒瑞医药 证券代码：600276 江苏恒瑞医药股份有限公司 2025 年 A 股员工持股计划 2025 年 9 月 声明 本公司及全体董事保证本员工持股计划及其摘要不存在虚假记载、误导性陈 述或重大遗漏，并对其真实性、准确性、完整性承担个别和连带的法律责任。 1 特别提示 本部分内容中的词语简称与"释义"部分保持一致。 1、《江苏恒瑞医药股份有限公司 2025 年 A 股员工持股计划》系江苏恒瑞医 药股份有限公司依据《中华人民共和国公司法》《中华人民共和国证券法》《关 于上市公司实施员工持股计划试点的指导意见》《上海证券交易所上市公司自律 监管指引第 1 号——规范运作》等法律、行政法规、规章、规范性文件以及《江 苏恒瑞医药股份有限公司章程》的有关规定制定。 2、本员工持股计划遵循依法合规、自愿参与、风险自担的原则，不存在摊 派、强行分配等强制员工参加本员工持股计划的情形。 3、本员工持股计划的参加对象为公司董事（不含独立董事）、监事、高级 管理人员、公司及控股子公司核心管理人员、骨干员工和公司董事会认为应当激 励的其他员工。本员工持股计划的参加对象总人数不超过 1316 人（不含预留份 额），其中 ...

证券代码：600276 证券简称：恒瑞医药 公告编号：临 2025-144 江苏恒瑞医药股份有限公司 关于获得药物临床试验批准通知书的公告 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。 近日，江苏恒瑞医药股份有限公司（以下简称"公司"）子公司苏州盛迪亚 生物医药有限公司、上海盛迪医药有限公司收到国家药品监督管理局（以下简称 "国家药监局"）核准签发关于注射用 SHR-1826、阿得贝利单抗注射液、贝伐 珠单抗注射液的《药物临床试验批准通知书》，将于近期开展临床试验。现将相 关情况公告如下： 野生型的晚期/转移性非鳞状非小细胞肺癌成人患者。截至目前，注射用 SHR-1826 相关项目累计研发投入约 8,809 万元。 阿得贝利单抗注射液是公司自主研发的人源化抗 PD-L1 单克隆抗体，能通过 特异性结合 PD-L1 分子从而阻断导致肿瘤免疫耐受的 PD-1/PD-L1 通路，重新激 活免疫系统的抗肿瘤活性，从而达到治疗肿瘤的目的。公司阿得贝利单抗注射液 （商品名：艾瑞利）已于 2023 年 3 月获批上市，获批的适应症为与卡铂 ...