FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 江蘇恒瑞醫藥股份有限公司 確認 根據《主板上市規則》第13.25C條 / 《GEM上市規則》第17.27C條，我們在此確認，據我們所知所信，第一章節所述的每項股份發行或庫存股份出售或轉讓已獲發行人董事會正式授權批准，並遵 照所有適用上市規則、法律及其他監管規定進行，並在適用的情況下： (註7) (i) 上市發行人已收取其在是次股份發行或庫存股份出售或轉讓應得的全部款項； (viii) 有關債券、借貸股份、票據或公司債券的信託契約/平邊契據經已製備及簽署，有關詳情已送呈公司註冊處處長存檔（如法律如此規定）。 呈交日期： 2026年2月26日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- ...

Core Viewpoint - Heng Rui Medicine's stock price has experienced a decline of 4.82% year-to-date, with significant drops over various trading periods, indicating potential challenges in market performance [2]. Group 1: Stock Performance - As of February 26, Heng Rui Medicine's stock price was 56.70 CNY per share, with a trading volume of 21.67 billion CNY and a turnover rate of 0.59%, resulting in a total market capitalization of 376.33 billion CNY [1]. - The stock has decreased by 4.82% since the beginning of the year, with a 3.74% drop over the last five trading days, a 5.66% decline over the last 20 days, and a 6.53% decrease over the last 60 days [2]. Group 2: Company Overview - Heng Rui Medicine, established on April 28, 1997, and listed on October 18, 2000, is primarily engaged in the research, production, and sales of pharmaceuticals, focusing on oncology [2]. - The company's product portfolio includes anti-tumor drugs, analgesics, and contrast agents, with applications across various medical fields such as autoimmune diseases, cardiovascular diseases, and pain management [2]. - The main revenue sources for Heng Rui Medicine are product sales (86.88%), licensing income (12.63%), and other income (0.49%) [2]. Group 3: Financial Performance - For the period from January to September 2025, Heng Rui Medicine reported a revenue of 23.188 billion CNY, reflecting a year-on-year growth of 14.85%, and a net profit attributable to shareholders of 5.751 billion CNY, which is a 24.50% increase compared to the previous year [3]. Group 4: Shareholder Information - As of September 30, 2025, the number of shareholders for Heng Rui Medicine was 397,300, an increase of 8.94% from the previous period, while the average circulating shares per person decreased by 8.21% to 16,058 shares [3]. - The company has distributed a total of 9.303 billion CNY in dividends since its A-share listing, with 3.568 billion CNY distributed over the last three years [4].

Core Insights - The China Securities Medicine and Medical Device Innovation Index (931484) shows mixed performance among its constituent stocks, with New and Achieve leading the gains at 3.63% [1] - The Medical Innovation ETF (516820) has seen a net inflow of 12.6971 million yuan over the past three days, with a peak single-day inflow of 6.1732 million yuan [1] - The current phase of brain-computer interface technology is described as an explosive period, with multiple countries, including China, accelerating their strategic positioning in global brain science [1] - AI is transitioning from a supportive role to becoming a core driver of value reconstruction and efficiency revolution in the medical industry, impacting various sectors such as medical imaging and drug development [1] Industry Overview - The Medical Innovation ETF closely tracks the China Securities Medicine and Medical Device Innovation Index, which selects 30 profitable and growth-oriented companies in the pharmaceutical and medical device sectors [2] - As of January 30, 2026, the top ten weighted stocks in the index include WuXi AppTec, Mindray, and Hengrui Medicine, collectively accounting for 63.9% of the index [2]

Core Viewpoint - Heng Rui Medicine announced that its innovative drug, SHR-1918 injection, a fully human monoclonal antibody targeting ANGPTL3, has received acceptance for its drug listing application and has been included in the priority review process for treating adult and adolescent patients aged 12 and above with homozygous familial hypercholesterolemia (HoFH) [1] Group 1 - SHR-1918 injection is independently developed by Heng Rui Medicine as a fully human anti-ANGPTL3 monoclonal antibody [1] - The mechanism of SHR-1918 involves inhibiting the activity of ANGPTL3, leading to a reduction in serum triglycerides (TG) and LDL-C levels [1]

Investment Rating - The report assigns an "Overweight" rating for the industry [1] Core Insights - The demand for antithrombotic drugs is expanding, driven by the increasing prevalence of thrombotic diseases, particularly due to aging populations and rising cardiovascular disease rates. The global market for antithrombotic drugs reached $52.9 billion in 2023 and is expected to exceed $110 billion by 2033, with a compound annual growth rate (CAGR) of 7.7% from 2023 to 2033 [10][19] - The next generation of anticoagulants is on the horizon, with a focus on drugs targeting Factor XI (FXI) to provide effective anticoagulation with lower bleeding risks. Multiple FXI inhibitors are currently in clinical development, indicating a significant shift in the anticoagulation landscape [3][25] - The report highlights the competitive landscape for FXI inhibitors, which include small molecules, monoclonal antibodies, and siRNA therapies, all aiming to balance efficacy and safety in anticoagulation treatment [30][36] Summary by Sections 1. Expansion of Antithrombotic Drug Market - Thrombotic diseases are a leading cause of death globally, with an estimated 26.7 million cases in 2024, projected to rise to 29.1 million by 2034. Risk factors include aging, obesity, and metabolic disorders [9][10] - The global antithrombotic drug market is projected to grow from $52.9 billion in 2023 to $110.6 billion by 2033, with a CAGR of 7.7% [10][19] 2. Upgrade Window for Anticoagulants - The anticoagulant market is expected to grow from $28 billion in 2020 to $33 billion in 2024, with a CAGR of 4.2%. The Chinese market is also rapidly developing, projected to reach $9 billion by 2024 [15][19] 3. FXI Opens a New Era in Anticoagulation - FXI inhibitors are seen as ideal targets for new anticoagulants due to their ability to reduce thrombotic events without significantly increasing bleeding risks. Current research shows that individuals with low FXI activity have a significantly reduced risk of thrombotic events [25][27] - Multiple FXI inhibitors are in advanced clinical stages, including small molecules like Asundexian and monoclonal antibodies like Abelacimab, indicating a robust pipeline for future anticoagulant therapies [30][32]

Group 1 - The core viewpoint of the article highlights the performance of the 180 Governance ETF (510010), which rose by 0.77% to 1.836 yuan with a trading volume of 418,500 yuan as of the midday close [1] - Major holdings in the 180 Governance ETF include Kweichow Moutai, which increased by 2.59%, Ping An of China up by 1.75%, and China Merchants Bank rising by 0.15% [1] - The ETF's performance benchmark is the Shanghai Stock Exchange 180 Corporate Governance Index, managed by China International Fund Management Co., Ltd. The fund has achieved a return of 102.94% since its inception on September 25, 2009, and a return of 1.90% over the past month [1]

Group 1 - Dongyangguang plans to acquire control of Dongshu Yihua, which was established for the acquisition of Qinhuai Data [1] - Kaipu Cloud terminates the acquisition of 100% equity in Nanning Taike [1] - YN Energy Holdings only holds a stake in Xiantian Computing and does not consolidate financial statements; its main business remains thermal power generation [1] - Jiaze New Energy's green chemical business is still in the early stages and has not yet been commercialized [1] Group 2 - Tongwei Co. plans to issue shares and cash to acquire 100% equity in Qinghai Lihua Qingneng and has suspended trading to plan the transaction [2] - Hengrui Medicine's SHR-1918 injection application has been accepted by the National Medical Products Administration and included in priority review [2] - ST Renfu plans to raise no more than 3.5 billion yuan through a private placement to its controlling shareholder [2] - Changxin Bochuang intends to acquire 93.81% equity in Shanghai Honghui Guanglian Communication Technology Co., expanding into the upstream of the optical communication industry chain [2] - Bohai Leasing's subsidiary sells 24 aircraft leasing assets with a market price of approximately 1.589 billion USD [2] - Shenlian Bio plans to acquire control of Shizhi Yuan for 237 million yuan and develop innovative drug business [2] - Sainuo Medical's subsidiary product Ghunter intracranial thrombectomy stent has obtained EU CE MDR certification [2] - Dazhu Laser plans to invest 150 million USD to establish an overseas operation center in Southeast Asia [2] - ST Songfa's subsidiary Henglizhaobing has signed contracts for the construction of two Capesize bulk carriers [2] - Shaaneng Co.'s wholly-owned subsidiary has signed a cooperation agreement for land and power resources for an independent energy storage project with Yuancan Company [2] - Guangxi Media's film "Fast Life 3" has a cumulative box office of 2.926 billion yuan, generating revenue of 43-53 million yuan; "Silent Insect" has a box office of 867 million yuan, generating revenue of 5.2-6.6 million yuan [2] - Xingfu Blue Sea's revenue from two films "Fast Life 3" and "Bears: Year of the Bear" totals approximately 790,000-1.02 million yuan [2] - Huazhi Digital Media's film "Silent Insect" has a cumulative box office exceeding 900 million yuan, accounting for over 50% of the recent year's revenue [2] - Xiangyuan Cultural Tourism received 1.1428 million visitors during the 2026 Spring Festival, achieving revenue of 70.9237 million yuan [2] - Sanan Optoelectronics plans to dispose of equipment that does not meet demand, with a book value of 447 million yuan [2] Group 3 - Sangfor Technologies expects a net profit growth of 317.09% in 2025 [3] - Yongxi Electronics anticipates a net profit of 82.24 million yuan in 2025, a year-on-year increase of 23.99% [3] - Zhongke Shuguang forecasts a net profit of 2.113 billion yuan in 2025, a year-on-year growth of 11% [3]

Performance Summary - Supor reported a net profit of 2.097 billion yuan for 2025, a decrease of 6.58% year-on-year [2] - Sanofi reported a net profit of 2.939 billion yuan for 2025, an increase of 317.09% year-on-year [17] - Wens Foodstuff Group reported a net profit of 5.235 billion yuan for 2025, a decrease of 43.59% year-on-year [18] - Sree New Materials reported a net profit of 154 million yuan for 2025, an increase of 35.04% year-on-year [22] - JiaoKong Technology reported a net profit of 156 million yuan for 2025, an increase of 86.13% year-on-year [22] - Aidi Pharmaceutical reported a net loss of 19.7337 million yuan for 2025, a reduction in loss [22] - MicroGuide Nano reported a net profit of 213 million yuan for 2025, a decrease of 6.12% year-on-year [22] - Zhongwei Semiconductor reported a net profit of 285 million yuan for 2025, an increase of 108.05% year-on-year [22] - Hengyu Environmental reported a net profit of 35.9325 million yuan for 2025, an increase of 106.25% year-on-year [22] - Zhongke Shuguang reported a net profit attributable to shareholders of 2.113 billion yuan for 2025, an increase of 10.54% year-on-year [22] - Oat Technology reported a net profit of 137 million yuan for 2025, an increase of 42.63% year-on-year [22] - Yongxi Electronics reported a net profit attributable to shareholders of 82.2403 million yuan for 2025, an increase of 23.99% year-on-year [22] Shareholding Changes - Asia Optical's shareholders plan to reduce their holdings by no more than 1.6 million shares [22] - Anhui Conch Cement's controlling shareholder plans to increase its holdings by 700 million to 1.4 billion yuan [22] - Huaneng Hydropower's controlling shareholder plans to increase its holdings by 100 million to 150 million yuan [22] - Fushi Holdings' shareholders plan to reduce their holdings by no more than 2% [22] - Zhixin Precision's board members plan to reduce their holdings by no more than 1.8562% [22] - Hongbaoli's deputy general manager plans to reduce their holdings by no more than 310,000 shares [22] - Yuanli Co. plans to repurchase shares worth 50 million to 60 million yuan [22] - Zhongshun Jierou plans to repurchase shares worth 60 million to 120 million yuan [22] Contract Awards - Fengfan Co. won a procurement project from Southern Power Grid worth approximately 184 million yuan [22] - Shaoneng Co.'s wholly-owned subsidiary signed a cooperation agreement for land and resources for an independent energy storage power station project with Yuancan Company [22] Major Investments - Zhejiang Medicine plans to invest 250 million yuan in a silver economy fund in collaboration with a private equity fund [4] Project Approvals - Gansu Energy's Minqin Shuangchike 2 million kilowatt wind power project has been approved [5] - China Tianying received investment approval for the expansion of its Hanoi project [5] Mergers and Acquisitions - Dazhu Laser plans to invest 150 million USD to establish an overseas operation center [6] - Dongyang Sunshine is planning to acquire control of Dongshu No. 1, with stock suspension [6] - Shenlian Bio plans to acquire control of Shizhi Source for 237 million yuan to fully develop its innovative drug business [23] - Tongwei is planning to purchase 100% of Lihua Qingneng, with stock suspension starting tomorrow [23] - Changxin Bochuang plans to acquire 93.8108% of Shanghai Honghui Optical Communication Technology Co., Ltd. for 375 million yuan [23] - Kaipu Cloud has terminated the acquisition of 100% of Nanning Taike [23] Other Developments - Kexin Mechanical and Electrical obtained a production license for ultra-high pressure containers (A6) [10] - Baiyin Nonferrous Metals received a government subsidy of 9 million yuan [24] - Rundou Co. received a drug registration certificate for ibuprofen tablets [25] - Hengrui Medicine's application for the marketing authorization of the innovative drug SHR-1918 injection has been accepted and included in the priority review process [26] - Duorui Medicine's tender offer period has expired, and the company's stock is suspended [27] - Inner Mongolia Huadian plans to apply for a change of its stock name to "Huaneng Mengdian" [28]

Regulatory Updates - The National Medical Products Administration (NMPA) has released the "Guidelines for Pharmaceutical Research on Chemical Drugs for Rare Diseases (Trial)" to enhance support for rare disease drug development and improve technical guidance principles [1] - Hengrui Medicine's innovative drug SHR-1918 injection has been accepted for priority review by the NMPA, aimed at treating patients with homozygous familial hypercholesterolemia [1] - CanSino Biologics has expanded the age range for its ACYW135 meningococcal polysaccharide conjugate vaccine from children aged 3 months to 3 years to those aged 3 months to 6 years, which is expected to positively impact the company's performance [2] - Tongrentang Pharmaceutical has received product registration approval from Health Canada for several products, including children's cough syrup, although further administrative approvals are required for sales [3] - Shanghai Pharmaceuticals has obtained a drug registration certificate in Singapore for rivaroxaban tablets, which are used to reduce the risk of stroke and systemic embolism in non-valvular atrial fibrillation patients [4] - Baotai has received acceptance for the marketing authorization application of its drug BAT4406F, intended for treating adult patients with AQP4 antibody-positive neuromyelitis optica spectrum disorder [5] Industry Developments - Zhejiang Medicine plans to invest 250 million yuan in a silver economy fund in collaboration with a private equity fund, focusing on the healthcare sector [6] - Zhijiang Biology has completed a strategic increase in its stake in Sanyou Biopharmaceuticals, enhancing its position in the precision medicine sector [7] - Xianweida Biopharmaceutical has entered a commercialization agreement with Pfizer China for its GLP-1 receptor agonist, which could yield up to $495 million in payments [8] Financial Performance - Sangfor Technologies reported a projected net profit increase of 317.09% for 2025, driven by a significant collaboration with Pfizer that resulted in a revenue recognition of approximately 2.89 billion yuan [9] Capital Market Activities - Duorui Pharmaceuticals announced a stock suspension following the expiration of a tender offer period, pending confirmation of the offer results [10] - Jiutian Pharmaceutical completed a share buyback of 1.24% of its total shares, with a total transaction amount of 100 million yuan [11] - Shenlian Biopharmaceutical plans to acquire controlling interest in Shiziyuan Biotechnology for 237 million yuan, aiming to expand into innovative drug business [12]

Core Viewpoint - Jiangsu Hengrui Medicine Co., Ltd. has received a notice from the National Medical Products Administration regarding the acceptance of its innovative drug SHR-1918 injection for marketing approval, which has been included in the priority review process [1] Drug Basic Information - Drug Name: SHR-1918 Injection - Dosage Form: Injection - Acceptance Number: CXSS2600019 - Application Stage: Marketing - Applicant: Beijing Shengdi Pharmaceutical Co., Ltd. - Indication: Treatment of adult and adolescent patients aged 12 years and older with homozygous familial hypercholesterolemia (HoFH) [1] Clinical Trial Information - The marketing application is based on two clinical trials for HoFH patients: SHR-1918-202 and SHR-1918-301, led by Professor Peng Daoquan from Central South University [2] - SHR-1918-202 is a Phase II multicenter, single-arm trial in adult HoFH patients, showing an average reduction of 59.1% in serum low-density lipoprotein cholesterol (LDL-C) with a significant absolute reduction of 6.6 mmol/L [2] - SHR-1918-301 is a Phase III randomized, double-blind, placebo-controlled trial in patients aged ≥12 years, confirming similar lipid-lowering efficacy and good safety profile [2] Additional Drug Information - Homozygous familial hypercholesterolemia is a rare and life-threatening autosomal dominant genetic disorder characterized by significantly elevated serum LDL-C levels, often exceeding 13 mmol/L, leading to early-onset atherosclerotic cardiovascular disease (ASCVD) [3] - SHR-1918 injection is a monoclonal antibody targeting angiopoietin-like protein 3 (ANGPTL3), aimed at lowering triglycerides (TG) and LDL-C levels [3] - The global sales forecast for a similar drug, EVKEEZA (evinacumab-dgnb) by Regeneron, is approximately $216 million by 2025 [3] - Cumulative R&D investment for SHR-1918 injection is approximately 24.22 million yuan (unaudited) [3]