港股创新药板块盘初走低，歌礼制药(01672.HK)跌超8%，百济神州(06160.HK)跌超7%，石药集团 (01093.HK)跌超5%。 ...

A股创新药概念集体回调，迈威生物跌超10%，百济神州、信立泰双双跌超8%，益方生物、舒泰神、热 景生物、百利天恒、诺诚健华等跌幅靠前。 ...

早盘 创新药概念集体回调， 迈威生物跌超10%， 百济神州、 信立泰双双跌超8%， 益方生物、 舒泰 神、 热景生物、 百利天恒、 诺诚健华等跌幅靠前。 ...

Group 1 - The core viewpoint of the news is the performance and holdings of the Industrial and Commercial Bank of China Medical Healthcare Stock Fund, which has shown positive returns in recent months and has a diversified portfolio in the healthcare sector [1][3] - As of May 9, 2025, the latest net value of the fund is 2.5040 yuan, with a growth of 0.72%. The fund's return over the past month is 5.17%, ranking 504 out of 783 in its category; over the past three months, the return is 9.06%, ranking 88 out of 778; and year-to-date, the return is 9.87%, ranking 103 out of 773 [1] - The top ten holdings of the fund account for a total of 39.79%, with significant investments in companies such as Heng Rui Pharmaceutical (8.90%), WuXi AppTec (5.12%), and Mindray Medical (2.80%) [1] Group 2 - The fund was established on November 18, 2014, and as of March 31, 2025, it has a total scale of 2.724 billion yuan. The fund managers are Zhao Bei and Ding Yang [1] - Zhao Bei has extensive experience in the healthcare sector, having served as the fund manager for various healthcare-related funds since 2014, while Ding Yang joined the company in 2017 and currently serves as a fund manager [2]

Group 1 - The core viewpoint of the articles highlights the financial performance and market position of BeiGene, a global biotechnology company focused on innovative drug development and commercialization [1][2] - As of May 9, BeiGene's stock closed at 243.52 yuan, reflecting a 2.15% increase, with a market capitalization of 341.576 billion yuan and a price-to-book ratio of 14.13 [1] - The latest financial report for the year 2024 shows that BeiGene achieved a revenue of 27.214 billion yuan, representing a year-on-year growth of 56.19%, while the net profit was -4.978287 million yuan, a decrease of 25.87% [1] Group 2 - A total of 219 institutions hold shares in BeiGene, including 218 funds and 1 brokerage, with a combined holding of 37.9477 million shares valued at 9.063 billion yuan [1] - The company’s sales gross margin stands at 84.44%, indicating a strong profitability in its operations [1] - In comparison to industry averages, BeiGene's price-to-earnings ratio (TTM) is -107.93, while the industry average is 57.12, suggesting a significant divergence in valuation metrics [2]

中国国际金融股份有限公司、高盛（中国）证券有限责任公司 关于百济神州有限公司 2024 年度持续督导跟踪报告 根据《证券发行上市保荐业务管理办法》（以下简称"《保荐办法》"）、 《上海证券交易所科创板股票上市规则》（以下简称"《科创板上市规则》"）、 《上海证券交易所上市公司自律监管指引第 11 号——持续督导》《科创板上市 公司持续监管办法（试行）》等有关法律、法规的规定，中国国际金融股份有限 公司与高盛（中国）证券有限责任公司（以下与中国国际金融股份有限公司合称 "联席保荐机构"）作为百济神州有限公司（以下简称"百济神州"或"公司"） 持续督导工作的联席保荐机构，负责百济神州上市后的持续督导工作，并出具 2024 年度持续督导跟踪报告，本持续督导期间为 2024 年 1 月 1 日至 2024 年 12 月 31 日。 | 序号 | 工作内容 | 持续督导情况 | | --- | --- | --- | | 1 | 建立健全并有效执行持续督导工作制 | 联席保荐机构已建立健全并有效执行 | | | 度，并针对具体的持续督导工作制定相 | 了持续督导制度，并制定了相应的工作 | | | 应的工作计划。 | ...

中国国际金融股份有限公司、高盛（中国）证券有限责任公司 （四）现场检查人员：中金公司：刘尚泉、高逸清；高盛中国：黄云琪、 姚晓阳、李昌昱、白佳也，刘洋通过线上参与相关访谈、会议。 （五）现场检查内容：公司治理及内部控制、信息披露、独立性、与关联 方的资金往来、募集资金使用情况、关联交易、对外担保、重大对外投资、公 司经营状况以及承诺履行情况等。 关于百济神州有限公司 2024 年持续督导工作现场检查报告 根据《上海证券交易所科创板股票上市规则》等有关法律、法规的规定， 中国国际金融股份有限公司（以下简称"中金公司"）、高盛（中国）证券有限 责任公司（以下简称"高盛中国"；中金公司及高盛中国以下合称"联席保荐机 构"）作为正在履行百济神州有限公司（以下简称"百济神州"、"公司"） 持续督导工作的联席保荐机构，对公司 2024 年 1 月 1 日至 2024 年 12 月 31 日期 间（以下简称"本持续督导期间"）的规范运作情况进行了现场检查，现就现场 检查的有关情况报告如下： 一、本次现场检查的基本情况 （一）联席保荐机构：中国国际金融股份有限公司、高盛（中国）证券有 限责任公司 （二）保荐代表人：中金公司： ...

中国国际金融股份有限公司、高盛（中国）证券有限责任公司 关于百济神州有限公司首次公开发行股票 并在科创板上市之持续督导保荐总结报告书 经中国证券监督管理委员会（以下简称"中国证监会"）《关于同意百济神 州有限公司首次公开发行股票注册的批复》（证监许可[2021]3568 号）核准并经 上海证券交易所同意，百济神州有限公司（以下简称"百济神州"或"公司"或 "上市公司"）获准在上海证券交易所上市。 2、本机构及本人自愿接受中国证监会对保荐总结报告书相关事项进行的任 何质询和调查。 3、本机构及本人自愿接受中国证监会按照《证券发行上市保荐业务管理办 法》的有关规定采取的监管措施。 二、联席保荐机构基本情况 1 | 保荐机构名称 | 中国国际金融股份有限公司 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 注册地址 | 北京市朝阳区建国门外大街 | 1 号国贸大厦 | 2 | 座 27 | 层及 | 28 | 层 | | 办公地址 | 北京市朝阳区建国门外大街 | 1 号国贸大厦 | 2 | 座 27 | 层及 | 28 | 层 | ...

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 FF301 截至月份: 2025年4月30日 狀態: 新提交 第 1 頁 共 10 頁 v 1.1.1 致：香港交易及結算所有限公司 公司名稱: 百濟神州有限公司（於開曼群島註冊成立的有限公司） 呈交日期: 2025年5月9日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06160 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 9,500,000,000 | USD | 0.0001 | USD | | 950,000 | | 增加 / 減少 (-) | | | 0 | | | USD | | 0 | | 本月底結存 | | | 9,500,000,000 | USD | 0.0001 | USD ...

Investment Rating - The report maintains a "Buy" rating for the company, with target prices unchanged for US, Hong Kong, and A-shares [3][13]. Core Insights - The company achieved a total revenue of $1.12 billion in Q1 2025, representing a year-over-year increase of 48.6% and a slight quarter-over-quarter decrease of 0.9% [4]. - The company reported a GAAP net profit of $1.27 million in Q1 2025, a significant improvement from a net loss of $251 million in Q1 2024 and $152 million in Q4 2024 [4]. - The company generated $44.08 million in operating cash flow in Q1 2025, marking its first quarter of achieving both GAAP operating profit and net profit ahead of market expectations [4]. - The company maintains its full-year guidance for 2025, projecting total revenue between $4.9 billion and $5.3 billion, with a gross margin expected to be in the range of 80%-90% [4]. Revenue and Sales Performance - Zebutinib sales reached $792 million in Q1 2025, up 62.1% year-over-year, with US sales contributing $563 million, a 60.2% increase year-over-year [5]. - The company reported a significant increase in sales across regions, with European sales at $116 million (up 73.5% YoY) and Chinese sales at $81.1 million (up 41.3% YoY) [5]. Profitability and Cost Management - The product gross margin was 85.1%, showing a notable increase from 83.3% in Q1 2024, driven by the growth in Zebutinib sales and improved production efficiency [6]. - Operating expenses grew only 6% year-over-year, with R&D expenses increasing by 5% to $480 million, indicating strong cost control [6]. Financial Projections - The report projects total revenue for 2025 to be $5.03 billion, with a year-over-year growth rate of 32.1% [14]. - The company is expected to achieve a net profit of $115 million in 2025, with projections for 2026 and 2027 remaining stable [13][14]. Pipeline and R&D Progress - The company is focusing on key pipeline products, with upcoming data releases expected from various clinical trials in 2025 [12]. - Notable upcoming events include the ASCO conference where initial human data for B7H4 ADC and CDK2 inhibitors will be presented [12].