Core Insights - The successful shipment of the first batch of Bevacizumab biosimilar to Colombia marks a significant milestone for the company in deepening its presence in the Latin American market [1] Group 1: Overseas Commercialization Strategy - The company has been actively advancing the overseas registration of its collaborative products, receiving industry acclaim for its "multi-country registration" commercial efficiency [2] - The innovative "global selection + global coverage" outbound platform model has led to partnerships with several well-known pharmaceutical companies, securing over twenty key products for overseas commercialization across diverse therapeutic areas [2] - Colombia, as the fourth largest pharmaceutical market in Latin America, has seen a notable increase in the export of Chinese pharmaceutical products, with a 10.4% year-on-year growth in the first quarter of 2025 [2] Group 2: Regulatory and Market Entry - The Colombian pharmaceutical market is a key focus for the company, with the local regulatory body INVIMA's standards closely aligned with international authorities like the FDA and EMA, indicating a high level of market entry rigor [2] - The INVIMA certification is expected to facilitate the introduction of Bevacizumab in other Latin American markets, enhancing the company's overall market penetration strategy [2] Group 3: Collaborative Efforts and Future Plans - The successful commercialization of Bevacizumab overseas is attributed to the deep collaboration between the company and its partner, which ensures stringent production compliance and high product quality [3] - The company plans to continue advancing the registration of Bevacizumab in Latin America and other key markets, while also enhancing its local operational capabilities for other products [3] - The ongoing efforts aim to expand the company's international footprint and provide hope for more patients through access to essential medications [3]

Market Overview - The biopharmaceutical sector experienced a decline of 0.57% on October 22, with Aopumai leading the drop [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - Notable gainers in the biopharmaceutical sector included: - Wendi Pharmaceutical (688488) with a closing price of 14.77, up 4.01% [1] - Dongbao Bio (300239) at 5.78, up 2.66% [1] - Jinke (688670) at 17.03, up 2.59% [1] - Major decliners included: - Aopumai (688293) at 55.19, down 4.40% [2] - Wofu Bio (300357) at 31.63, down 3.18% [2] - Sanofi (688336) at 59.60, down 2.39% [2] Capital Flow - The biopharmaceutical sector saw a net outflow of 192 million yuan from institutional investors, while retail investors contributed a net inflow of 53.82 million yuan [2] - Specific stock capital flows included: - Te Bao Bio (688278) with a net inflow of 19.00 million yuan from institutional investors [3] - Hualan Bio (002007) with a net inflow of 12.05 million yuan from institutional investors [3] - Aopumai (688293) with a net outflow of 4.40% from institutional investors [3]

Meeting Overview - The second extraordinary general meeting of shareholders was held on October 17, 2025, at the Innovation Technology Building in Shenzhen [5] - The meeting was convened by the board of directors and chaired by Chairman Deng Xueqin, utilizing a combination of on-site and online voting methods [2][3] Attendance - All 8 current directors attended the meeting, along with the board secretary Wang Xiaoqin and other senior management personnel [3] Resolutions Passed - The following key resolutions were approved during the meeting: - Proposal for the company to issue H-shares and list on the Hong Kong Stock Exchange [4] - Various aspects of the H-share issuance, including types and par value, issuance timing, method, scale, pricing, and target investors, were all approved [6][7] - The proposal to convert the company into an overseas fundraising joint-stock company was approved [7] - The fundraising usage plan for the H-share issuance was approved [7] - Authorization for the board of directors and its authorized personnel to handle matters related to the H-share issuance was approved [7] - Profit distribution plan prior to the H-share issuance was approved [7] - Amendments to the company's articles of association and related rules post-H-share issuance were approved [8] Legal Verification - The meeting was witnessed by Beijing Jiayuan Law Firm, confirming that the convening, procedures, and voting were in compliance with relevant laws and regulations [10]

证券代码：688136 证券简称：科兴制药 公告编号：2025-088 科兴生物制药股份有限公司 2025年第二次临时股东会决议公告 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） 股东会召开的时间：2025 年 10 月 17 日 （二） 股东会召开的地点：深圳市南山区高新中一道与科技中一路交汇处创益 科技大厦 B 栋 19 楼会议室 （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： | 1、出席会议的股东和代理人人数 | 80 | | --- | --- | | 普通股股东人数 | 80 | | 2、出席会议的股东所持有的表决权数量 | 112,192,882 | | 普通股股东所持有表决权数量 | 112,192,882 | | 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例（%） | 56.6324 | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 56.6324 ...

北京市嘉源律师事务所 关于科兴生物制药股份有限公司 2025 年第二次临时股东会的 法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 SRE Jites 务 所 A YUAN LAW OFFICES · 深圳 SHENZHEN·香港 HONG KONG · 广州 GUANGZHOU· 西安 XI'AN 北京 BEIJING · 上海 SHANGHAI 致:科兴生物制药股份有限公司 北京市嘉源律师事务所 关于科兴生物制药股份有限公司 2025年第二次临时股东会的 法律意见书 嘉源(2025)-04-744 北京市嘉源律师事务所(以下简称"本所")接受科兴生物制药股份有限公 司(以下简称"公司")的委托,根据《中华人民共和国公司法》(以下简称"《公 司法》")、《上市公司股东会规则》(以下简称"《股东会规则》")等现行 有效的法律、行政法规、部门规章、规范性文件(以下简称"法律法规")以及 《科兴生物制药股份有限公司章程》(以下简称"《公司章程》")的有关规定, 指派本所律师对公司2025年第二次临时股东会(以下简称"本次股东会")进行 见证,并依法出具本法律意见书。 一、本次股东会的召集与 ...

Core Viewpoint - The strategic cooperation agreement between the company and Chengdu Yuandong Biopharmaceutical Co., Ltd. aims to enhance the commercialization of Apalutamide tablets in multiple international markets, focusing on prostate cancer treatment [1] Group 1 - The company has signed a strategic cooperation agreement with Chengdu Yuandong Biopharmaceutical Co., Ltd. in 2023 [1] - The agreement includes exclusive overseas commercialization authorization for Apalutamide tablets in over ten countries, including Indonesia, Egypt, Saudi Arabia, and Colombia [1] - This collaboration aims to deepen the partnership and promote the drug's entry into potential markets in Southeast Asia, the Middle East, and Latin America [1]

Core Viewpoint - The stock price of Kexing Pharmaceutical has shown a significant increase of 76.53% year-to-date, but has experienced fluctuations in the short term, including a recent decline of 9.64% over the past 20 days and 17.84% over the past 60 days [2] Financial Performance - For the first half of 2025, Kexing Pharmaceutical reported a revenue of 700 million yuan, representing a year-on-year decrease of 7.82%. However, the net profit attributable to shareholders increased significantly by 576.45% to 80.34 million yuan [2] - Cumulative cash dividends since the company's A-share listing amount to 51.54 million yuan, with 15.78 million yuan distributed over the past three years [3] Stockholder Information - As of June 30, 2025, the number of shareholders for Kexing Pharmaceutical increased by 16.86% to 9,412, while the average circulating shares per person decreased by 14.43% to 21,211 shares [2] - The top shareholders include notable funds such as E Fund Healthcare Industry Mixed A and others, with significant increases in holdings for some [3] Market Activity - Kexing Pharmaceutical's stock has been active on the market, appearing on the "Dragon and Tiger List" six times this year, with the most recent appearance on July 3 [2] - The stock price was reported at 38.45 yuan per share, with a market capitalization of 7.738 billion yuan as of October 14 [1]

Core Insights - On October 10, Kexing Pharmaceutical announced a partnership with Zhixiang Biotech (Suzhou) Co., Ltd., a CDMO specializing in large molecule drug development, to collaborate on the development of large molecule drugs [1] Group 1 - Kexing Pharmaceutical has signed a cooperation agreement with Zhixiang Biotech [1] - The collaboration focuses on the development of large molecule drugs [1]

Core Insights - The trend of A-share companies pursuing dual listings in Hong Kong is becoming a standard configuration for internationalization, with 25 companies announcing plans in September alone [2][38] - The Hong Kong IPO market is experiencing a surge, with 286 new applications received by September 30, more than double the previous year, and a total of 66 new IPOs raising approximately 182.3 billion HKD [3][4] - The regulatory environment is favorable, with the China Securities Regulatory Commission supporting leading enterprises in their Hong Kong listings and the Hong Kong Stock Exchange optimizing the approval process for eligible A-share companies [5][6][7] Group 1: Market Activity - The Hong Kong IPO market is witnessing a significant influx of Chinese companies, with a total fundraising amount of 134.5 billion HKD by the end of August, a nearly sixfold increase compared to the same period in 2024 [3][4] - A-share companies utilizing the "A+H" listing model accounted for 70% of total fundraising in the first half of the year, with 11 companies raising a total of 91.7 billion HKD [3][4] Group 2: Strategic Considerations - The motivations behind A-share companies listing in Hong Kong include not only the expansion of financing channels but also the alignment with favorable policies and the need for global capital reallocation [10] - Companies like Kexing Pharmaceutical and Newnovel have explicitly stated that their Hong Kong listings are part of their strategies to enhance international competitiveness and accelerate global business development [11][13] Group 3: Investor Dynamics - The participation of cornerstone investors in the Hong Kong IPO market has significantly increased, with an average of 5.35 cornerstone investors per listing, compared to 1.37 last year [22] - Local state-owned enterprises are increasingly becoming cornerstone investors, with over 15 local state-owned platforms participating in IPOs this year [25][26] Group 4: Talent and Market Evolution - The changing landscape of market participants is leading to a shift in talent demand, particularly for teams in Hong Kong and AI-focused investment professionals [32] - International investment banks are ramping up their presence in Hong Kong, with major banks increasing their senior management personnel to meet the growing demand in the financial sector [34][36]

格隆汇10月9日丨科兴制药(688136.SH)公布，截至2025年9月30日，公司通过上海证券交易所交易系统 以集中竞价交易方式已累计回购公司股份1,269,333股，占公司目前总股本比例为0.63%，回购成交的最 高价为43.50元/股，最低价为23.14元/股，支付的资金总额为人民币4,738.19万元（不含交易佣金等费 用）。 ...