Summary of Maiwei Biotech Conference Call Company Overview - Maiwei Biotech, established in 2017, focuses on oncology and age-related diseases with a pipeline of 16 projects, including 4 already on the market [3][6] - The company utilizes three main technology platforms: efficient molecular discovery, ADC (Antibody-Drug Conjugate), and TCE (Tandem Bispecific Antibody) [2][3] Key Developments in ADC and TCE - In the ADC field, Maiwei's UC (Urothelial Carcinoma) drug is in Phase II clinical trials with an overall efficacy rate of approximately 40% [2][5] - The cervical cancer drug has entered Phase III trials, and the esophageal cancer drug targets the PD-1 plus chemotherapy market [2][5] - The MF6 toxin platform shows high activity and non-PGP substrate characteristics, advantageous for treating multi-drug resistant tumors, particularly in gastrointestinal cancers [2][11] Clinical Trials and Market Potential - Maiwei plans to complete Phase III trials for UC and cervical cancer this year and aims for rolling submissions next year, which could significantly enhance its market position [2][6] - The iron regulatory monoclonal antibody is the only one globally that supports monthly dosing, with a peak sales potential in the U.S. estimated at $2 billion [4][21] - The TCE platform's first pipeline, targeting AML (Acute Myeloid Leukemia) and MM (Multiple Myeloma), is expected to enter clinical trials in mid-2026, with market sizes of $17 billion and $27 billion respectively [4][23] Competitive Advantages - Maiwei's ADC technology employs a site-specific conjugation process that enhances drug stability and concentration within tumors, improving efficacy and reducing side effects [12][26] - The MF6 toxin is designed to overcome traditional ADC limitations due to high expression of PGP proteins, making it suitable for high PGP-expressing gastrointestinal tumors [28][40] Future Strategies - The company aims to strengthen collaborations with academia and industry to accelerate drug development and enhance recognition through high-impact publications [6][18] - Maiwei is focusing on five key pipelines this year, including TMC top, cervical cancer, and UC projects, with plans to introduce additional TCE pipelines in the future [25][31] Research and Development Insights - Maiwei has made significant progress in the field of white介11 (W11) with promising results in anti-aging and scar treatment, with clinical trials expected to yield results within 3 to 6 months [19][20][39] - The company is also exploring innovative oral therapies for osteoarthritis, which could fill a significant market gap if proven effective [22] Conclusion - Maiwei Biotech is positioned as a leader in innovative cancer therapies with a robust pipeline and strategic focus on overcoming existing treatment limitations, particularly in multi-drug resistant cancers and age-related diseases [2][6][31]

Core Insights - The report maintains a positive outlook on small molecule drug conjugates (SMDCs) and related companies, highlighting their potential in cancer treatment due to their ability to enhance efficacy while reducing toxicity [1][5][17] - The report emphasizes the clinical advantages of SMDCs, including better tumor penetration, reduced toxicity to normal cells, and easier control over synthesis and costs compared to antibody-drug conjugates (ADCs) [5][11][12] - The report identifies domestic biopharmaceutical companies, particularly Affinivax, as leaders in the SMDC space, showcasing significant advancements in innovative cancer drug development [5][12][17] Industry Overview - The pharmaceutical and biotechnology sector has shown a relative price-to-earnings (P/E) ratio of 51.14 as of July 25, 2025, which is significantly higher than its historical low of 24.38, indicating a premium valuation compared to the broader market [19] - The report notes that the healthcare sector's valuation is 279% higher than the Shanghai Composite Index, reflecting strong investor interest and confidence in the industry [19] - Recent market performance indicates a 1.90% increase in the pharmaceutical and biotechnology sector from July 21 to July 25, 2025, ranking it 16th among 27 sub-industries [26][29] Company Focus - The report suggests monitoring companies involved in the SMDC space, including Affinivax, and those collaborating with them, such as Innovent Biologics and others, which are expected to benefit from the growing interest in innovative cancer therapies [5][17][18] - Specific companies highlighted for their innovative drug development capabilities include Innovent Biologics, Shunyi Pharmaceutical, and others, which are positioned to capitalize on the advancements in SMDC technology [5][18]

Core Viewpoint - The company plans to repurchase shares through a centralized bidding process, with a total repurchase amount ranging from RMB 25 million to RMB 50 million, aimed at enhancing investor confidence and supporting employee stock ownership plans [1][2][3] Summary by Relevant Sections Repurchase Plan Overview - Total repurchase amount: RMB 25 million to RMB 50 million [1] - Source of funds: Company’s own funds and/or special loans for stock repurchase [1][13] - Purpose of repurchase: To be used for employee stock ownership plans or equity incentives [1][5] - Maximum repurchase price: Not exceeding RMB 35.00 per share, which is 150% of the average trading price over the last 30 trading days prior to the board's decision [1][6][13] Implementation Details - Method of repurchase: Through the Shanghai Stock Exchange trading system via centralized bidding [2][6] - Duration of repurchase: Within 12 months from the board's approval date [2][5] - If the stock is suspended for more than 10 consecutive trading days due to major events, the repurchase plan will be postponed until after the stock resumes trading [2][6] Shareholder and Management Plans - No plans for share reduction by major shareholders, including the controlling shareholder and management, in the next 3 to 6 months [2][15] - The proposal for the repurchase was initiated by the company’s chairman and CEO, Liu Datao, based on confidence in the company's future and long-term investment value [15][16] Financial and Market Context - The company has achieved significant progress in its product pipeline, with multiple innovative drugs in various clinical stages, indicating a strong operational performance [8][9][10] - The company believes its current market valuation is significantly undervalued, which supports the rationale for the share repurchase [8][13] Future Considerations - If the repurchased shares are not utilized within three years, they will be legally canceled [5][17] - The company has secured a loan commitment from CITIC Bank for up to RMB 45 million to support the repurchase [13][14]

证券代码：688062 证券简称：迈威生物 公告编号：2025-037 迈威（上海）生物科技股份有限公司 关于以集中竞价交易方式回购股份的回购报告书 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、准确性和完整性依法承担法律责任。 重要内容提示： ● 回购股份金额：本次回购资金总额不低于人民币 2,500 万元（含），不超过 人民币 5,000 万元（含）。 ● 回购股份价格：不超过人民币 35.00 元/股（含），该价格不高于公司董事会 审议通过回购股份方案决议前 30 个交易日公司股票交易均价的 150%，系公司根 据当前公司良好的运营情况，参考公司股份发行价并结合近期资本市场环境及公 司股价等情况的变化，为切实推进和实施股份回购，并基于对公司未来持续稳定 发展的信心，以及对公司股票长期投资价值的认可确定。具体回购价格由公司董 事会授权管理层在本次回购实施期间结合公司股票价格、财务状况和经营状况确 定。 ● 回购股份方式：通过上海证券交易所交易系统以集中竞价交易方式。 ● 回购股份期限：自公司董事会审议通过本次回购方案之日起 12 个月内。回 购实施期 ...

北京植德（上海）律师事务所 关于迈威（上海）生物科技股份有限公司 上海市徐汇区虹桥路 183 号徐家汇中心三期 A 座办公楼 27 层（THREE itc） 邮编：200030 电话(Tel)：021-52533500 传真(Fax)：021-52533599 www.meritsandtree.com 北京植德（上海）律师事务所 法律意见书 植德沪（会）字20250031 号 二〇二五年七月 关于迈威（上海）生物科技股份有限公司 法律意见书 植德沪（会）字20250031 号 致：迈威（上海）生物科技股份有限公司（贵公司） 北京植德（上海）律师事务所（以下简称"本所"）接受贵公司的委托，指 派律师出席并见证贵公司 2025 年第一次临时股东大会（以下简称"本次会议"）。 本所律师参加本次会议进行见证，并根据《中华人民共和国公司法》（以下 简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、 《上市公司股东会规则》（以下简称"《股东会规则》"）、《律师事务所从事 证券法律业务管理办法》（以下简称"《证券法律业务管理办法》"）、《律师 事务所证券法律业务执业规则（试行）》 （以下简称"《证 ...

（三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： 证券代码：688062 证券简称：迈威生物 公告编号：2025-036 迈威（上海）生物科技股份有限公司 2025年第一次临时股东大会决议公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 7 月 21 日 （二） 股东大会召开的地点：上海市浦东新区李冰路 576 号创想园 3 号楼 103 会议室 | 1、出席会议的股东和代理人人数 | 210 | | --- | --- | | 普通股股东人数 | 210 | | 2、出席会议的股东所持有的表决权数量 | 196,075,237 | | 普通股股东所持有表决权数量 | 196,075,237 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 49.0678 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | ...

关于迈威（上海）生物科技股份有限公司 2025 年第一次临时股东大会的 北京植德（上海）律师事务所 法律意见书 植德沪（会）字[2025]0031 号 二〇二五年七月 上海市徐汇区虹桥路 183 号徐家汇中心三期 A 座办公楼 27 层（THREE itc） 邮编：200030 27th Floor Tower A, THREE itc, No.183 Hongqiao Road, Xuhui District, Shanghai 200030 P.R.C 电话(Tel)：021-52533500 传真(Fax)：021-52533599 www.meritsandtree.com 北京植德（上海）律师事务所 关于迈威（上海）生物科技股份有限公司 2025 年第一次临时股东大会的 1．本所律师仅就本次会议的召集与召开程序、召集人和出席现场会议人员 资格、会议表决程序及表决结果的合法性发表意见，不对本次会议所审议的议案 内容及该等议案所表述的事实或数据的真实性、准确性和完整性发表意见； 2．本所律师无法对网络投票过程进行见证，参与本次会议网络投票的股东 资格、网络投票结果均由相应的证券交易所交易系统和互联网投票 ...

Market Performance - The recombinant protein concept increased by 2.92%, ranking 7th among concept sectors, with 43 stocks rising, including Chengdu Xian Dao and Mai Wei Bio reaching a 20% limit up [1] - Leading gainers included Shen Zhou Cell, Hai Te Bio, and Ke Xing Pharmaceutical, with increases of 15.40%, 11.93%, and 10.14% respectively [1] - Decliners included ST Wei Ming, *ST Su Wu, and Lizu Group, with decreases of 5.01%, 4.81%, and 0.49% respectively [1] Capital Flow - The recombinant protein sector saw a net inflow of 188 million yuan, with 17 stocks receiving net inflows, and 5 stocks exceeding 30 million yuan in net inflow [1] - Shen Zhou Cell led with a net inflow of 217 million yuan, followed by Chengdu Xian Dao, Mai Wei Bio, and Hui Yu Pharmaceutical with net inflows of 126 million yuan, 96.87 million yuan, and 45.41 million yuan respectively [1] Capital Inflow Ratios - Leading stocks in capital inflow ratios included Shen Zhou Cell, Chengdu Xian Dao, and Cheng Da Bio, with net inflow ratios of 16.25%, 12.33%, and 10.79% respectively [2] - The top stocks in the recombinant protein concept based on capital flow included Shen Zhou Cell, Chengdu Xian Dao, and Mai Wei Bio, with respective daily turnover rates of 3.70%, 12.33%, and 17.80% [2]

迈威生物7月17日龙虎榜 | 买入营业部名称 | 买入金额(万元) | | --- | --- | | 沪股通专用 | 11811.78 | | 华鑫证券有限责任公司江苏分公司 | 2740.40 | | 中信证券股份有限公司上海分公司 | 2602.12 | | 机构专用 | 2410.03 | | 东海证券股份有限公司福州长乐北路证券营业部 | 2104.20 | | 卖出营业部名称 | 卖出金额(万元) | | 机构专用 | 8839.24 | | 沪股通专用 | 5312.46 | | 海通证券股份有限公司上海临港分公司 | 4297.52 | | 海通证券股份有限公司深圳红岭北路证券营业部 | 2501.55 | | 华鑫证券有限责任公司深圳福田分公司 | 2184.16 | 7月17日迈威生物（688062）收盘价37.33元，收盘涨停，全天换手率17.80%，振幅19.27%，成交额 12.69亿元。科创板交易公开信息显示，当日该股因日收盘价涨幅达15%等上榜。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交4.48亿元， 其中，买入成交额为2.17亿 元，卖出成交额为2.31亿元，合 ...

Market Overview - The A-share market has shown a positive trend with the Shanghai Composite Index rising by 0.37% to 3516.83 points, the Shenzhen Component Index increasing by 1.43% to 10873.62 points, and the ChiNext Index up by 1.75% to 2269.33 points [1] - There is a noticeable increase in foreign investment interest in the Chinese market, with South Korean investors' cumulative trading volume in mainland and Hong Kong stocks exceeding $5.4 billion this year, making China the second-largest overseas investment destination for South Korean investors after the US [1][10] Sector Performance - The computing power, innovative pharmaceuticals, and military sectors have experienced significant gains, with the computing power sector leading the charge [2] - In the computing power sector, companies like Benq Intelligent, Shijia Photon, and Dekeli saw their stock prices rise over 10%, while Cambridge Technology and Changfei Fiber reached their daily limit [2][4] - The innovative pharmaceutical sector remains strong, with companies such as Weikang Pharmaceutical and Maiwei Bio achieving a 20% increase in stock price, and several others rising over 10% [5] Investment Sentiment - Citigroup has upgraded the ratings for Chinese and South Korean stock markets to "overweight," citing a constructive medium-term outlook despite macroeconomic volatility [9] - The report predicts that the Hang Seng Index will reach a target price of 25,000 points by the end of this year and 26,000 points by mid-next year, while the CSI 300 Index is expected to hit 4,200 points by year-end and 4,350 points by mid-next year [9] - In addition, the Invesco Global Sovereign Asset Management Research indicates a rebound in interest from international investment institutions towards the Chinese market, with a total asset management of approximately $27 trillion [12] Future Outlook - The military sector is also gaining traction, with companies like AVIC Shenfei and AVIC Aviation experiencing stock price surges [11] - The recent announcement by NVIDIA to resume supply of the H20 computing power chip for the Chinese market is expected to enhance domestic AI model training and inference capabilities, creating a positive feedback loop for demand [4] - The National Healthcare Security Administration's new policy for innovative drugs aims to balance accessibility and sustainability, indicating a strategic shift in healthcare policy that could benefit the pharmaceutical sector [6]