Core Viewpoint - The real estate sector experienced significant upward movement on October 16, with multiple companies showing strong performance, indicating a potential recovery or positive sentiment in the market [1] Company Performance - Shangshi Development achieved a two-day consecutive increase in stock price [1] - Shahe Co., Shenzhen Property A, and Hefei Urban Construction reached the daily limit increase [1] - Other companies such as Wolong New Energy, Dayue City, Phoenix Co., and Guangming Real Estate also saw price increases [1]

Core Insights - The real estate sector has experienced significant upward movement, with multiple companies showing strong performance in the market [1] Company Performance - Shanghai Shimao Development has achieved two consecutive trading limit increases [1] - Shahe Co., Shenzhen Properties A, and Hefei Urban Construction have reached their trading limits [1] - Other companies such as Wolong New Energy, Dayue City, Phoenix Holdings, and Bright Realty have also seen notable increases in their stock prices [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本通告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本通告全部 或任何部分內容所產生或因依賴該等內容而引致的任何損失承擔任何責任。 CanSino Biologics Inc. 康希諾生物股份公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：6185） 董事會會議通告 康希諾生物股份公司 Xuefeng YU 董事長 香港，2025年10月15日 於本通告日期，本公司董事會包括執行董事Xuefeng YU博士、Shou Bai CHAO博 士 及王靖女士；非執行董事李志成先生；以及獨立非執行董事桂水發先生、劉建忠 先生及張耀樑先生。 康 希 諾 生 物 股 份 公 司（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈，董 事 會 會 議將於2025年10月27日（星 期 一）舉 行，藉 以（其 中 包 括）考 慮 及 批 准 本 公 司 及 其 附 屬公司截至2025年9月30日止九個月的第三季度業績及其發佈。 承董事會命 ...

Core Viewpoint - CanSino Biologics (06185.HK) announced that its board meeting will be held on October 27, 2025, to consider and approve the third quarter performance for the nine months ending September 30, 2025 [1] Group 1 - The board meeting is scheduled for October 27, 2025 [1] - The meeting will focus on the approval of the company's and its subsidiaries' third quarter results [1] - The performance period under review is for the nine months ending September 30, 2025 [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本通告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本通告全部 或任何部分內容所產生或因依賴該等內容而引致的任何損失承擔任何責任。 CanSino Biologics Inc. 康希諾生物股份公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：6185） 董事會會議通告 康 希 諾 生 物 股 份 公 司（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈，董 事 會 會 議將於2025年10月27日（星 期 一）舉 行，藉 以（其 中 包 括）考 慮 及 批 准 本 公 司 及 其 附 屬公司截至2025年9月30日止九個月的第三季度業績及其發佈。 承董事會命 康希諾生物股份公司 Xuefeng YU 董事長 香港，2025年10月15日 於本通告日期，本公司董事會包括執行董事Xuefeng YU博士、Shou Bai CHAO博 士 及王靖女士；非執行董事李志成先生；以及獨立非執行董事桂水發先生、劉建忠 先生及張耀樑先生。 ...

Core Viewpoint - The recent merger announcement by Barinthus with Clywedog Therapeutics is not expected to impact the development of the shingles vaccine by the company, which is currently in the clinical I phase and showing promising results in immune response [1] Group 1: Vaccine Development - The company has conducted clinical I trials for its shingles vaccine (adenovirus vector) and the results indicate that the candidate vaccine is expected to stimulate a good cellular immune response [1] - CD4 levels are comparable to the control vaccine, while CD8 levels show significant advantages [1] - Future project strategies will be considered based on the competitive landscape, R&D planning, and resource allocation, with updates provided on any significant progress [1] Group 2: Collaboration and Strategic Considerations - The company advises that any developments regarding its partner's strategic direction should be referenced from the partner's official disclosures [1]

Core Insights - The financial performance of CanSino Biologics in the first half of 2025 shows a revenue increase but raises concerns about the sustainability of this improvement due to ongoing losses in core operations [3][4][8] Revenue and Profitability - CanSino reported a revenue of 382 million yuan in the first half of 2025, a 26% year-on-year increase, while net losses narrowed to 13.49 million yuan, a 94.02% reduction compared to a loss of 225 million yuan in the same period last year [3][4] - The revenue growth is primarily driven by the sales of a single product, the meningococcal vaccine, which accounted for 95.3% of total revenue, with sales reaching 364 million yuan, a 38.43% increase [4][6] Product Dependency and Market Competition - The company's revenue structure is heavily reliant on the meningococcal vaccine "Mankai Xin," which poses risks as competition intensifies with three new entrants in the market [6][4] - The sustainability of "Mankai Xin" as a leading product is uncertain, with potential price pressures and market share erosion expected as competitors launch their products [6][4] Financial Stability and Cost Management - CanSino has struggled to establish a stable profitability model, with high operational costs consistently exceeding revenues, leading to significant losses [10][8] - The company’s total operating costs have remained around 2.4 billion yuan from 2021 to 2023, far surpassing revenues, which raises concerns about financial sustainability [10][8] Research and Development Expenditure - Over the past five years, CanSino has invested over 3.1 billion yuan in R&D, with 2024's R&D expenditure accounting for 60.35% of total revenue, significantly higher than the industry average [11][8] - Despite substantial R&D investments, no products other than the COVID-19 vaccine have achieved large-scale profitability [12][8] Sales and Marketing Efficiency - The company's sales expenses have been increasing, with promotional costs reaching 173 million yuan in 2023, indicating low marketing efficiency as revenue growth has not kept pace with these expenditures [14][8] - The sales expense ratio was 57.91% in 2023, significantly higher than the industry average, suggesting ineffective marketing strategies [14][8]

CanSino Biologics Inc. 康希諾生物股份公司 | | 特別決議 | (附 註4) 贊 成 | 反 對 | (附 | 註4) | 棄 權 | (附 註4) | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. | 審議及批准建議採納2025年A股激勵計劃及建議根據2025年A股激勵計劃發 行限制性股票； | | | | | | | | 2. | 審議及批准建議採納2025年A股激勵計劃考核管理辦法； | | | | | | | | 3. | 審議及批准建議授權董事會處理2025年A股激勵計劃相關事項； | | | | | | | | 4. | 審議及批准建議採納2025年H股購股權計劃； | | | | | | | | 5. | 審議及批准建議授權董事會處理2025年H股購股權計劃相關事項； | | | | | | | | 6. | 審議及批准建議向Xuefeng YU博士授予371,300份H股購股權；及 | | | | | | | | 7. | 審議及批准建議註銷購回A股及減少註冊資本。 | | | | | | | 日期：202 ...

FF301 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 | | | 致：香港交易及結算所有限公司 公司名稱: 康希諾生物股份公司 呈交日期: 2025年10月6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) | 06185 | 說明 | H 股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 132,670,900 | RMB | | 1 | RMB | | 132,670,900 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 132,670,900 | RMB | | 1 | RMB | | 132,670,900 | | 1. 股份分類 | 普通股 | 股份類別 | ...

Group 1 - The core viewpoint of the news is that CanSino's stock has experienced fluctuations, with a recent decline despite a year-to-date increase in share price [1] - As of October 9, CanSino's stock price was 77.91 CNY per share, with a market capitalization of 19.279 billion CNY [1] - The company has seen a year-to-date stock price increase of 27.62%, but a decline of 1.38% over the last five trading days and 7.06% over the last twenty days [1] Group 2 - For the first half of 2025, CanSino reported revenue of 382 million CNY, representing a year-on-year growth of 26% [2] - The net profit attributable to shareholders for the same period was -13.4854 million CNY, showing a year-on-year improvement of 94.02% [2] - The number of shareholders decreased by 1.92% to 17,500 as of June 30 [2] Group 3 - Since its A-share listing, CanSino has distributed a total of 198 million CNY in dividends, with no dividends paid in the last three years [3]