Summary of Key Points Core Viewpoint - On November 4th, a total of 124 companies announced 129 stock repurchase updates, indicating a significant activity in stock buybacks within the market [1] Group 1: Stock Repurchase Approvals - Two companies had their stock repurchase plans approved by shareholders' meetings, highlighting ongoing corporate strategies to enhance shareholder value [1] - Among the approved repurchase plans, one company proposed a buyback exceeding 10 million [1] Group 2: Stock Repurchase Implementation Progress - 111 companies disclosed their stock repurchase implementation progress, showcasing a robust engagement in buyback activities [1] - The companies with the highest repurchase amounts included: - GoerTek Inc. with 940 million - BOE Technology Group with 704 million - Hengrui Medicine with 535 million [1] Group 3: Completed Stock Repurchases - Eleven companies completed their stock repurchase plans, with seven companies reporting buybacks exceeding 10 million [1] - The companies with the highest completed repurchase amounts were: - Decai Co. with 69.99 million - Langjin Technology with 50.00 million - New City with 40.00 million [1]

格隆汇11月4日丨根据联交所最新权益披露资料显示，2025年10月30日，恒瑞医药(01276.HK)获Wellington Management Group LLP在场内以每股均价73.65港 元增持101.22万股，涉资约7455.08万港元。 增持后，Wellington Management Group LLP最新持股数目为16,282,567股，持股比例由5.91%上升至6.31%。 | 股份代號: | 01276 | | --- | --- | | 上市法國名稱: | 江蘇恒瑞醫藥股份有限公司 - H股 | | 日期 (日 / 月 / 年): | 04/10/2025 - 04/11/2025 | | 表格序號 | 大股東/董事/最高行政人員名稱作出披露的 買入 / 賣出或涉及的 每股的平均價 | | | | | 持有權益的股份數目 佔已發行的 有關事件的日期 | | --- | --- | --- | --- | --- | --- | --- | | | | | 设计算 | | | ( 語參與 有投票權股 (日 / 月 / 年) | | | | | | | | 178 - 177 11 | | ...

Group 1 - Company Pigeon BioPharma has voluntarily applied for the dissolution of its non-wholly-owned subsidiary, Shanghai Maiji BioPharmaceutical Technology Co., Ltd, which was established on June 26, 2017, focusing on the research and development of GLP-2 [1] - The move reflects a strategic contraction by Pigeon BioPharma, indicating a focus on core pipelines and optimization of resource allocation [1] Group 2 - Hengrui Medicine's subsidiary Chengdu Shengdi Pharmaceutical Co., Ltd has had its HRS-5965 capsule proposed for inclusion in the priority review list by the National Medical Products Administration, aimed at treating adult patients with paroxysmal nocturnal hemoglobinuria who have not previously received complement inhibitors [2] - This recognition highlights Hengrui Medicine's innovative capabilities, and if approved, the drug will address a significant treatment gap for first-line patients [2] Group 3 - Renfu Pharmaceutical's subsidiary Yichang Renfu Pharmaceutical Co., Ltd has received the Drug Clinical Trial Approval Notice from the National Medical Products Administration for its pregabalin sustained-release tablets, which are intended for treating diabetic peripheral neuropathy-related neuropathic pain and postherpetic neuralgia [3] - The approval is expected to expand the market for neuropathic pain treatment, with a broad market potential for the two indications targeted by the drug [3] - The sustained-release formulation may enhance patient compliance, and successful development will enrich the company's pain management product line, although ongoing clinical progress and competition from original research drugs should be monitored [3]

| 股份代號: | 01276 | | --- | --- | | 上市法國名稱: | 江蘇恒瑞醫藥股份有限公司 - H股 | | 日期 (日 / 月 / 年): | 04/10/2025 - 04/11/2025 | 格隆汇11月4日丨根据联交所最新权益披露资料显示，2025年10月30日，恒瑞医药(01276.HK)获GIC Private Limited在场内以每股均价73.4253港元增持43万 股，涉资约3157.29万港元。 增持后，GIC Private Limited最新持股数目为5442.26万股，持股比例由20.91%上升至21.08%。 | 表格序號 | 大股東/董事/最高行政人員名稱作出披露的 買入 / 賣出或涉及的 每股的平均價 | | | | | 持有權益的股份數目 佔已發行的 有關事件的日期 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 原因 | 股份數目 | | | ( 請參閱上述 * 註 | | | | | | | | | 份百分比 | | | | | | | | | 96 | | | CS202511 ...

Group 1 - Jiangsu Hengrui Medicine Co., Ltd. announced that its subsidiary Chengdu Shengdi Pharmaceutical Co., Ltd.'s HRS-5965 capsules have been proposed for inclusion in the priority review list by the National Medical Products Administration (NMPA) [1][2] - HRS-5965 capsules are intended for the treatment of adult patients with paroxysmal nocturnal hemoglobinuria (PNH) who have not previously received complement inhibitor therapy [1][2] - PNH is a rare acquired hemolytic disease characterized by the lack of CD55 and CD59, leading to complement-mediated intravascular hemolysis, and has been included in the national rare disease directory [2] Group 2 - The company has received approval from the NMPA for the clinical trial of Ruvelimab tablets, which are second-generation androgen receptor (AR) inhibitors, with a stronger AR inhibition effect compared to first-generation inhibitors [7][8] - Ruvelimab tablets were approved for the treatment of high-burden metastatic hormone-sensitive prostate cancer (mHSPC) in 2022, and similar products are projected to have a combined global sales of approximately $11.037 billion in 2024 [8] - The company has invested approximately 693.09 million yuan in the development of Ruvelimab tablets [8] Group 3 - The company has initiated a share repurchase program, with a total repurchase amount between 1 billion and 2 billion yuan, at a maximum price of 90.85 yuan per share [11][12] - As of October 31, 2025, the company has repurchased a total of 7.9188 million shares, accounting for 0.12% of the total share capital, with a total expenditure of approximately 535.43 million yuan [13] - The repurchase is in accordance with relevant laws and regulations and the company's established repurchase plan [14]

Core Insights - Heng Rui Medicine has received approval from the National Medical Products Administration for clinical trials of Rivolumab tablets, a second-generation AR inhibitor, which is expected to enhance treatment for metastatic hormone-sensitive prostate cancer [1][2] - The company’s subsidiary, Chengdu Shengdi Pharmaceutical Co., has its HRS-5965 capsules listed for priority review, targeting adult patients with paroxysmal nocturnal hemoglobinuria (PNH) [1][2] Group 1: Rivolumab Tablets - Rivolumab tablets are a second-generation AR inhibitor with stronger AR suppression and no agonistic effects compared to first-generation inhibitors [1] - The global sales of similar products are projected to reach approximately $11.037 billion in 2024 [1] - Cumulative R&D investment for Rivolumab tablets has reached about 693 million yuan [1] Group 2: HRS-5965 Capsules - HRS-5965 capsules are a complement factor B inhibitor designed to treat PNH, a rare acquired hemolytic disease [2] - The global sales for HRS-5965 are estimated to be around $12.9 million in 2024 [2] - Cumulative R&D investment for HRS-5965 has reached approximately 210 million yuan [2] Group 3: Share Buyback Program - Heng Rui Medicine has repurchased 7.9188 million shares, accounting for 0.12% of the total share capital, with a total expenditure of 535 million yuan [2][3] - The buyback program was approved in August, with a maximum purchase price of 90.85 yuan per share and a total budget between 1 billion and 2 billion yuan [3] - The buyback period is set for 12 months from the board's approval date [3]

Core Viewpoint - Heng Rui Medicine's subsidiary Chengdu Shengdi Pharmaceutical Co., Ltd. has announced that its HRS-5965 capsule is proposed to be included in the priority review list by the National Medical Products Administration, targeting treatment for adult patients with paroxysmal nocturnal hemoglobinuria who have not previously received complement inhibitors [1] Company Summary - HRS-5965 capsule is a complement factor B inhibitor designed to suppress complement-mediated intravascular and extravascular hemolysis, thereby increasing hemoglobin levels [1] - Currently, the only drug targeting the same mechanism that has been approved for sale abroad is Novartis's Iptacopan capsule (Fabhalta) [1]

Group 1 - China Mobile's controlling shareholder, China Mobile Group, plans to transfer 41.98 million shares (0.19% of total shares) to China National Petroleum Corporation [1] - Strong瑞 Technology intends to invest 70 million yuan to acquire 35% equity in aluminum cooling technology company, which supplies components for NVIDIA AI servers [2] - Pingtan Development's stock price has increased over 100% in the last eight trading days, indicating significant abnormal trading behavior [3] Group 2 - Hezhong China warns of irrational speculation risk as its stock price has surged 61.23% over five consecutive trading days, significantly deviating from its fundamentals [4] - TCL Technology's participation in the restructuring plan of Suning Group has not been approved by creditors, leading to uncertainties in the restructuring process [5] - Huitian New Materials has signed a strategic cooperation agreement with Taiblue New Energy to collaborate in solid-state batteries and key materials [6] Group 3 - Han Jian He Shan has signed a procurement contract worth 207 million yuan with China Nuclear Industry Huaxing Construction, accounting for 26.29% of its audited revenue for 2024 [7] - Actual controller of Baihehua, Chen Lirong, mistakenly reduced his holdings by 160,000 shares but has since repurchased the same amount [8][9] - Yaxing Chemical is planning to acquire control of Tianyi Chemical through a combination of share issuance and cash payment, leading to a stock suspension [10] Group 4 - Shenghui Integration's shareholder, Suzhou Shengzhan, has terminated its plan to reduce holdings of up to 620,000 shares, having already reduced 565,500 shares [11] - North Bay Port reported a 22.73% year-on-year increase in cargo throughput in October [12] - Jiangling Motors experienced an 8.06% year-on-year increase in automobile sales in October [12]

Core Insights - Chengdu Shengdi Pharmaceutical, a subsidiary of Heng Rui Medicine, has its HRS-5965 capsule proposed for inclusion in the priority review list by the National Medical Products Administration, with a public notice period of 7 days [1] Product Details - Indication: Treatment for adult patients with Paroxysmal Nocturnal Hemoglobinuria (PNH) who have not previously received complement inhibitors [2] - Reason for Priority Review: Classified as an innovative drug for rare diseases, meeting the criteria for urgently needed and scarce drugs [2] - Mechanism of Action: Complement factor B inhibitor, capable of inhibiting complement-mediated intravascular and extravascular hemolysis [2] Market Situation - Competitive Landscape: The only drug targeting the same mechanism is Novartis' Iptacopan capsule, which has been approved abroad [2] - Market Size: Novartis' product is projected to achieve global sales of approximately $129 million in 2024 [2] - R&D Investment: Cumulative R&D investment for this project is approximately 210 million yuan [2]

Core Viewpoint - Heng Rui Medicine announced a share buyback of 7.9188 million shares, representing 0.12% of the company's total share capital, to be completed by October 31, 2025 [1] Group 1 - The company will conduct the share buyback through the Shanghai Stock Exchange's centralized bidding trading system [1] - The buyback is part of the company's strategy to enhance shareholder value [1]