Group 1 - The company has established a special settlement account for managing temporarily idle raised funds through financial products at China Bank Qianhai Shekou Branch [1] - All financial products purchased through the special settlement account have matured and been redeemed, leading to the account's cancellation [1] - The cancellation of the account has been completed in accordance with relevant regulations, including the "Regulations on the Supervision of Raised Funds by Listed Companies" and the "Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board" [1]

科兴生物制药股份有限公司 关于注销部分募集资金理财产品专用结算账户的公告 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、准确性和完整性依法承担法律责任。 一、募集资金理财产品结算账户的开立情况 科兴生物制药股份有限公司（以下简称"公司"）为满足部分暂时闲置募集 资金现金管理的需要，在中国银行前海蛇口分行营业部开立了募集资金理财产品 专用结算账户，具体内容详见公司于2024年6月7日在上海证券交易所网站 （www.see.com.cn）披露的《关于开立理财产品专用结算账户的公告》（公告编 号：2024-042）。 证券代码：688136 证券简称：科兴制药 公告编号：2025-093 截至本公告披露日，公司在中国银行前海蛇口分行营业部账户（账号： 777078668780）购买的理财产品均已全部到期赎回，且不再使用该账户。根据《上 市公司募集资金监管规则》及《上海证券交易所科创板上市公司自律监管指引第 1号——规范运作》的相关规定，公司于近日办理完毕上述理财产品专用结算账 户的注销手续。具体账户信息如下： | 开户机构 | 开户名称 | 账号 | | -- ...

Market Overview - The biopharmaceutical sector experienced a slight decline of 0.08% on November 11, with He Yuan Bio leading the drop [1] - The Shanghai Composite Index closed at 4002.76, down 0.39%, while the Shenzhen Component Index closed at 13289.0, down 1.03% [1] Stock Performance - Notable gainers included: - Jin Ke (688670) with a closing price of 24.97, up 19.99% on a trading volume of 134,300 shares and a transaction value of 310 million [1] - Kanghua Bio (300841) closed at 83.21, up 6.04% with a trading volume of 57,100 shares [1] - Watson Bio (300142) closed at 12.82, up 2.64% with a trading volume of 942,000 shares [1] - Significant losers included: - Bu Yuan Bio (688765) closed at 86.00, down 8.02% with a trading volume of 107,600 shares [2] - Ao Pu Mai (688293) closed at 59.18, down 3.65% with a trading volume of 17,900 shares [2] - Rongchang Bio (688331) closed at 86.00, down 2.55% with a trading volume of 45,900 shares [2] Capital Flow - The biopharmaceutical sector saw a net outflow of 671 million from institutional investors, while retail investors contributed a net inflow of 335 million [2] - The capital flow for key stocks showed: - Jin Ke had a net inflow of 48.11 million from institutional investors, but a net outflow of 24.49 million from speculative funds [3] - Zhifei Bio (300122) experienced a net inflow of 15.25 million from institutional investors, with a net outflow of 23.20 million from retail investors [3] - Kanghua Bio had a net inflow of 14.35 million from institutional investors, but a net outflow of 23.26 million from speculative funds [3]

Market Performance - A-shares saw a rise with the Shanghai Composite Index closing up 0.53% at 4018.6 points, while the Shenzhen Component Index increased by 0.18%[1] - The Hang Seng Index in Hong Kong closed up 1.55% at 26649.06 points, with the Hang Seng Tech Index rising 1.34% and the Hang Seng China Enterprises Index up 1.90%[1] - The total market turnover in Hong Kong decreased to 2147.878 million HKD[1] Economic Indicators - The U.S. government shutdown is expected to end soon, with the Senate likely to vote on a temporary funding bill[1] - China's passenger car sales fell for the first time in over a year, with a 0.8% year-on-year decline in October due to the withdrawal of trade-in subsidies[1][12] International Trade - Switzerland is reportedly close to reaching an agreement with the U.S. to reduce export tax rates from 39% to 15%, with a potential deal expected in the next two weeks[12] - The U.S. trade representative is optimistic about reaching a trade agreement with India, which may involve lowering tariffs on Indian goods[12]

证券代码：688136 证券简称：科兴制药 公告编号：2025-092 科兴生物制药股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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。 重要内容提示： 会议召开时间：2025 年 11 月 17 日（星期一） 10:00-11:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 （三） 会议召开方式：上证路演中心网络互动 三、 参加人员 投资者可于 2025 年 11 月 14 日（星期五） 16:00 前登录上证路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 ir@kexing.com 进行提问。公司将在说明会上对投资者普遍关注的问 题进行回答。 科兴生物制药股份有限公司（以下简称"公司"）已于 2025 年 10 月 30 日发布公司 2025 年第三季度报告，为便于广大投资者更全 面深入地了解公司 2025 ...

Core Insights - The Hang Seng AH Premium Index has slightly rebounded to 118.42 points as of November 7, following a low of 115.44 points on October 2, indicating a shift in market dynamics for A+H shares [1] Group 1: Recent H-Share Listings - Several well-known A-share companies have recently listed on the Hong Kong stock market, contributing to the AH Premium Index's movements [2] - Junsheng Electronics, listed on November 6, aims to raise funds for automotive intelligent solutions, smart manufacturing, and global expansion, but has seen a cumulative drop of 15.91% since listing, with an A-share premium of 71.63% over H-shares [2] - Seres, which listed on November 5, has experienced a cumulative decline of 13.31%, with an A-share premium of 33.41% over H-shares [2] Group 2: Premium Structure and Trends - The AH premium structure has become more differentiated, with five A+H stocks showing "price inversion" as of November 7, including Ningde Times and Midea Group, with Ningde Times showing the largest premium inversion at -22.303% [4] - The overall trend indicates that the phenomenon of A-shares having premiums over H-shares exceeding 300% has disappeared, with only 30 out of 166 A+H stocks having premiums over 100% [5] - The premium rates for some companies, such as Hongye Futures and Sinopec Oilfield Services, exceed 200%, while others like WuXi AppTec and Zijin Mining have premiums below 5% [5] Group 3: Expansion of A+H Market - The pace of expansion in the A+H market is accelerating, with companies like Baile Tianheng starting their IPO process and planning to raise up to 3.358 billion HKD [6] - The A+H market is becoming a crucial link between A-share and H-share markets, providing investors with more cross-market investment options [7] - Differences in investor structures and trading mechanisms between A-shares and H-shares are fundamental factors contributing to the observed price disparities [7]

Group 1 - Company plans to raise no more than 3.6 billion yuan through a private placement to fund seven projects, including a 500,000 kW green power project in Inner Mongolia [1] - Company has received acceptance for a clinical trial application for its self-developed drug for metastatic pancreatic ductal adenocarcinoma [1] - Company intends to establish a joint venture to implement a high-quality gallium arsenide chip construction project with a total investment of 272 million yuan [2] Group 2 - Company reported a revenue of 142 million yuan from pig sales in October, with a total sales volume of 162,800 pigs [3] - Company signed an annual procurement contract to supply 870,000 tons of electrolyte products from 2026 to 2028 [5] - Company plans to reduce its shareholding by up to 3% through various trading methods [7] Group 3 - Company intends to purchase 100 hydrogen fuel cell vehicles for a total price of 78.32 million yuan [9] - Company plans to acquire a 51% stake in a semiconductor equipment company for 510 million yuan [10] - Company has regained eligibility to participate in military procurement activities after being removed from the banned list [12] Group 4 - Company plans to establish a joint venture with state-owned funds for rural development with a total registered capital of 2.87 billion yuan [14] - Company reported a revenue of 1.918 billion yuan from pig sales in October, with a significant year-on-year increase [16][17] - Company plans to distribute a cash dividend of 0.01 yuan per share, totaling 7.9801 million yuan [18] Group 5 - Company has submitted an application for H-share listing on the Hong Kong Stock Exchange [19] - Company received approval for its convertible bond issuance application [20] - Company plans to establish a wholly-owned subsidiary with an investment of 70 million yuan focused on innovative medical research [22] Group 6 - Company reported a 33.87% year-on-year increase in sales volume for October [26] - Company has received a product designation from a leading new energy vehicle brand, with an expected total revenue of approximately 470 million yuan [28] - Company has initiated a key Phase III clinical trial for an innovative eye drop treatment for moderate to severe dry eye syndrome [30] Group 7 - Company reported a total automobile sales volume of 170,700 units in October, a year-on-year decrease of 8.1% [30] - Company plans to invest 16 million USD in establishing a production base in Vietnam [33] - Company has received a warning letter from the regulatory authority due to a breach of commitment by its controlling shareholder [52]

Group 1: Corporate Developments - Elon Musk's 10-year compensation plan approved by Tesla shareholders with 75% majority, potentially worth around $1 trillion in stock [2] - OpenAI's annual revenue expected to exceed $20 billion by the end of this year, with a goal of reaching "hundreds of billions" by 2030 [3] - Apple plans to launch its first low-cost Mac laptop priced under $1,000 in the first half of next year, targeting students and general users [4] Group 2: Technology and AI - Google accelerates the market release of its most powerful AI chip, the seventh-generation Tensor Processing Unit (TPU) named Ironwood, which is four times faster than its predecessor [5] - A strategic partnership formed between ChipLink Integrated and Yuxin Electronics to strengthen the AI semiconductor supply chain, focusing on AI server power management chips [8][9] Group 3: Robotics and Innovation - The world's first 5G-A humanoid robot, "Kua Fu," successfully completed a torch relay at the 15th National Games, showcasing its capabilities in dynamic tasks [6][7] - Xiaopeng Motors' CEO responds to concerns about the company's IRON robot, emphasizing its autonomous capabilities and plans for mass production by the end of 2026 [10] Group 4: Market Insights - Sinovac Biotech submits an application for listing on the Hong Kong Stock Exchange, with a history dating back to 1989 and a focus on biopharmaceutical innovation [11] - Thunderbird Innovation completes a C-round financing to enhance its position in the global consumer-grade AI+AR glasses market, setting a record for single financing amount in 2025 [12] - Deep AI secures 200 million RMB in funding within three months to advance the commercialization of embodied intelligent robots [13]

Core Viewpoint - The company, Sinovac Biotech Ltd., has submitted an application for listing on the Hong Kong Stock Exchange, indicating its intention to expand its presence in the international market [1] Group 1: Company Overview - Sinovac Biotech is an innovative and internationally developed biopharmaceutical company [1] - The company focuses on the research, production, and commercialization of recombinant proteins, antibodies, and targeted delivery therapies [1] Group 2: Strategic Focus - The company strategically concentrates on key therapeutic areas such as oncology and autoimmune diseases, which still have significant unmet clinical needs [1] - Through independent innovation and strategic partnerships, the company has established a differentiated portfolio of marketed products and candidate drugs [1] Group 3: Market Positioning - Sinovac Biotech is continuously advancing treatment solutions that possess clinical and market advantages [1]

Group 1 - BeiGene expects its 2025 revenue to be between 36.2 billion and 38.1 billion yuan, driven by the strong performance of its flagship product, Brukinsa, in the US and European markets [1] - The company's R&D, sales, and management expenses are projected to be between 29.5 billion and 30.9 billion yuan, with a gross margin maintained at a high level of 80% to 90% [1] - The revenue growth adjustment indicates that BeiGene is entering a new phase of self-sustainability, showcasing its strong potential for innovative drug commercialization and global competitiveness [1] Group 2 - Shanghai Pharmaceuticals received FDA approval for its Ticagrelor tablets, which will be used for patients with acute coronary syndrome, marking a significant step in its internationalization and innovative R&D efforts [2] - The approval reflects the product's quality and compliance with international standards, enhancing the company's position in the global market [2] - Additionally, the company received a drug registration certificate for tofacitinib extended-release tablets, which are used to treat rheumatoid arthritis and other conditions [2] Group 3 - A divorce case has led to a change in the actual controller of Wohuayi Pharmaceutical, with both parties now holding 50% equity in Beijing Zhongzheng Wanrong Investment Group [3] - This structural change may impact decision-making efficiency and strategic progress due to potential disagreements between the two parties [3] - However, it also presents an opportunity for the company to optimize its governance structure and reduce reliance on individual control [3] Group 4 - Yixin Pharmacy's chairman plans to transfer shares to his daughters through block trading, totaling no more than 11.712 million shares, which will not change the company's control [4] - This internal transfer is a stable family succession arrangement, allowing for wealth transfer while maintaining control through a concerted action agreement [4] - The move effectively mitigates risks associated with changes in control and governance structure [4] Group 5 - Sinovac Biotech has submitted an application for an H-share listing on the Hong Kong Stock Exchange, marking a key step in its internationalization strategy [5] - The listing is expected to provide significant capital support for the company's innovative drug development and global market expansion [5] - It will also enhance the company's international brand image and market influence [5]