Group 1 - The Hong Kong stock market showed a strong opening on February 9, with the Hang Seng Index rising by 1.59%, the State-owned Enterprises Index increasing by 1.54%, and the Technology Index up by 1.9% [1] - The Hang Seng Biotechnology Index, focusing on innovative drugs, performed robustly, with the largest ETF tracking this index (159892) rising nearly 2% [1] - The innovative drug sector is expected to enter a profit realization acceleration phase by 2025, with companies like Innovent Biologics and Rongchang Biopharmaceuticals turning losses into profits, while companies like 3SBio are significantly increasing their performance [1] Group 2 - The strong performance of the innovative drug sector validates the effectiveness of the domestic innovative drug business model, with core product volume growth supported by medical insurance becoming the foundation for performance growth [1] - External collaborations, such as business development (BD) partnerships, are becoming important drivers for enhancing performance in the innovative drug sector [1] - The Hang Seng Medical ETF (159892) focuses on innovative drugs, CXO, and related industries, benefiting from the advantages of the Hong Kong Stock Exchange's 18A system, covering numerous innovative targets like BeiGene and Innovent Biologics, and is expected to continue its valuation recovery trend under catalysts like overseas expansion of innovative drugs and commercial insurance directories [1]

每经AI快讯，2月9日，君实生物(01877.HK)涨超5%，截至发稿，涨4.81%，报21.8港元，成交额3991.48 万港元。 （文章来源：每日经济新闻） ...

公告称，公司2025年年度归属于母公司所有者的净利润仍出现亏损，但亏损金额与上年同期相比显著缩 窄，主要系公司持续落实"提质增效重回报"行动方案，商业化能力显著提升的同时不断加强费用管控与 资源聚焦。 报告期内，公司营业收入增长，主要系商业化药品的销售收入与上年同期相比有所增长。报告期内，公 司核心产品特瑞普利单抗注射液(商品名：拓益)于国内市场销售收入同比大幅增长。截至本公告披露 日，拓益已在中国内地获批上市的12项适应症全部纳入国家医保目录，是目录中唯一用于肾癌、三阴性 乳腺癌和黑色素瘤治疗的抗PD-1单抗药物。 消息面上，近日，君实生物发布公告，预计2025年年度实现营业收入25亿元左右，同比增长28.32%左 右。预计2025年年度研发费用为13.53亿元，同比增长6.10%左右。预计2025年年度实现归属于母公司所 有者的净亏损为8.73亿左右，同比亏损减少31.85%左右。预计2025年年度扣除股份支付影响后实现归属 于母公司所有者的净亏损为7.99亿元左右，同比亏损减少37.62%左右。预计2025年年度实现归属于母公 司所有者扣除非经常性损益后的净亏损为9.85亿元左右，同比亏损减少23.64 ...

Core Viewpoint - Junshi Biosciences (01877) is expected to achieve significant revenue growth and a reduction in net losses by 2025, driven by improved commercialization capabilities and cost control measures [1][2]. Group 1: Financial Projections - The company anticipates a revenue of approximately 2.5 billion yuan for the year 2025, representing a year-on-year growth of about 28.32% [1]. - Research and development expenses are projected to be around 1.353 billion yuan in 2025, reflecting a year-on-year increase of approximately 6.10% [1]. - The expected net loss attributable to shareholders for 2025 is around 873 million yuan, which is a reduction of about 31.85% compared to the previous year [1]. - After excluding the impact of share-based payments, the net loss is projected to be approximately 799 million yuan, indicating a decrease of about 37.62% year-on-year [1]. - The net loss attributable to shareholders, after excluding non-recurring gains and losses, is expected to be around 985 million yuan, a reduction of approximately 23.64% compared to the previous year [1]. Group 2: Product Performance - The company's revenue growth during the reporting period is primarily attributed to increased sales of commercialized drugs [2]. - The core product, Toripalimab injection (brand name: Tuoyi®), has seen a significant year-on-year increase in sales revenue in the domestic market [2]. - As of the announcement date, Tuoyi® has been included in the national medical insurance catalog for all 12 approved indications in mainland China, making it the only anti-PD-1 monoclonal antibody in the catalog for the treatment of renal cancer, triple-negative breast cancer, and melanoma [2].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 上海君實生物醫藥科技股份有限公司 FF301 第 1 頁 共 10 頁 v 1.2.0 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 呈交日期: 2026年2月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01877 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 260,295,700 | RMB | | 1 RMB | | 260,295,700 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 260,295,700 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 上海君實生物醫藥科技股份有限公司 呈交日期: 2026年2月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01877 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 260,295,700 | RMB | | 1 RMB | | 260,295,700 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 260,295,700 | RMB | | 1 RMB | | 260,295,700 | | 2. 股份分類 | 普通股 | 股份類別 | A | ...

Core Viewpoint - The pharmaceutical sector is experiencing a mixed performance in 2025, with a significant number of companies forecasting profit increases, while others are facing substantial losses. Group 1: Profit Forecasts - A total of 283 pharmaceutical stocks have disclosed their 2025 earnings forecasts, with 160 companies expecting year-on-year profit growth. Among these, Sino Medical has the highest projected increase, with an expected profit growth of over 32 times [1][4]. - WuXi AppTec is anticipated to achieve a record net profit of 19.15 billion yuan, marking the highest since its listing. This includes nearly 5.6 billion yuan in non-recurring gains from the sale of equity interests [6]. - Sino Medical's projected net profit for 2025 is between 43 million and 50 million yuan, reflecting a year-on-year increase of 2,767% to 3,233%. The growth is attributed to stable revenue from its neuro-interventional business and a 22% increase in its coronary intervention business due to the implementation of a national procurement policy [4][5]. Group 2: Loss Forecasts - Over 120 companies are forecasting profit declines for 2025, with 39 facing their first losses since going public, including companies like Zhifei Biological and Zhenbao Island. Zhifei is expected to report a loss of between 10.698 billion and 13.726 billion yuan, a decline of 630% to 780% compared to the previous year [2][8]. - Zhenbao Island anticipates a net loss of between 1.012 billion and 1.173 billion yuan, attributed to delays in the procurement process and increased cost control measures [8]. - Huiyu Pharmaceutical's losses are primarily due to non-core investment losses, with a fair value loss of 173 million yuan from its investment in Zhejiang Tongyuan Kang Pharmaceutical [9]. Group 3: Innovative Drug Companies - The innovative drug sector is showing signs of recovery, with companies like Nocera and Rongchang Biopharma expected to turn losses into profits. Nocera forecasts a net profit of approximately 633 million yuan, a significant increase from the previous year [3][11]. - Rongchang Biopharma is also expected to achieve profitability with projected revenues of around 3.25 billion yuan, a year-on-year increase of about 89% [11]. - Companies like Junshi Biosciences are reducing their losses significantly, with an expected net loss of around 873 million yuan, a reduction of 408 million yuan compared to the previous year [11][12].

Core Viewpoint - Junshi Biosciences is actively developing a monkeypox recombinant protein vaccine in collaboration with several prestigious institutions, indicating a strong focus on innovative vaccine development and a commitment to expanding its product pipeline in the biopharmaceutical sector [2][3]. Group 1: Company Developments - On October 27, 2023, Junshi Biosciences announced a partnership with Peking University, the Institute of Microbiology of the Chinese Academy of Sciences, Shanxi Advanced Innovation Research Institute, and Beihang University to jointly develop a monkeypox recombinant protein vaccine [2]. - The company’s subsidiary, Junshi Biotech, is involved in the development of various vaccine-related products, including monkeypox and Zika vaccines, which are currently in the preclinical development stage [2]. - Junshi Biosciences has a complete industry chain capability from drug discovery and development to large-scale production and commercialization, aiming to become a globally positioned innovative pharmaceutical company [3]. Group 2: Product Pipeline and Innovations - The core product, Toripalimab, is the first domestically approved PD-1 monoclonal antibody in China, with 11 approved indications and an additional supplemental NDA under review, showcasing the company's strong market presence [3]. - The company’s self-developed Tifcemalimab is the first anti-tumor anti-BTLA monoclonal antibody to enter clinical development, with ongoing Phase III registration clinical studies and multiple Phase Ib/II studies in progress [3]. - Junshi Biosciences is exploring early-stage pipelines, with several products expected to initiate critical registration clinical trials by 2025 [3]. Group 3: Financial Performance - For the period from January to September 2025, Junshi Biosciences reported revenue of 1.806 billion yuan, a year-on-year increase of 42.06%, while the net profit attributable to shareholders was -596 million yuan, reflecting a 35.72% year-on-year growth [9]. - The company’s main business revenue composition includes 90.67% from drug sales, 8.74% from technology licensing, and 0.59% from technical services and others [9]. Group 4: Market Position and Shareholder Information - As of September 30, 2025, Junshi Biosciences had 35,900 shareholders, an increase of 15.17% from the previous period, with an average of 21,361 circulating shares per person, a decrease of 12.96% [9]. - The company is part of the pharmaceutical and biotechnology sector, focusing on biopharmaceuticals, including COVID-19 drugs, monkeypox concepts, viral prevention, and precision medicine [9].

上市首日，君实生物股价最高报220.40元，为上市以来股价最高点。 君实生物首次公开发行股票募集资金总额为48.36亿元，扣除发行费用后，募集资金净额为44.97亿 元，较原计划多17.97亿元。君实生物于2020年7月8日发布的招股说明书显示，该公司计划募集资金 27.00亿元，分别用于创新药研发项目、君实生物科技产业化临港项目、偿还银行贷款及补充流动资 金。 君实生物首次公开发行股票发行费用为3.39亿元，其中，保荐及承销费用3.20亿元。 君实生物2022年度向特定对象发行A股股票募集资金情况为，根据中国证监会出具的《关于同意上 海君实生物医药科技股份有限公司向特定对象发行股票注册的批复》（证监许可[2022]2616号），公司 获准向特定对象发行人民币普通股7,000.00万股，每股发行价格为人民币53.95元，募集资金总额为人民 币3,776,500,000.00元；扣除各项发行费用合计人民币31,697,205.06元（不含增值税）后，实际募集资金 净额为人民币3,744,802,794.94元。实际到账金额为人民币3,759,350,000.00元，包括尚未支付的其他发行 费用人民币14,547 ...

截至9月30日，君实生物股东户数3.59万，较上期增加15.17%；人均流通股21361股，较上期减少 12.96%。2025年1月-9月，君实生物实现营业收入18.06亿元，同比增长42.06%；归母净利润-5.96亿元， 同比增长35.72%。 机构持仓方面，截止2025年9月30日，君实生物十大流通股东中，易方达上证科创板50ETF（588080） 位居第七大流通股东，持股1939.29万股，相比上期减少282.03万股。华夏上证科创板50成份ETF （588000）位居第八大流通股东，持股1897.20万股，相比上期减少1074.47万股。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 融资方面，君实生物当日融资买入5342.70万元。当前融资余额14.64亿元，占流通市值的5.32%，融资 余额超过近一年90%分位水平，处于高位。 融券方面，君实生物1月30日融券偿还2350.00股，融券卖出300.00股，按当日收盘价计 ...