Group 1 - Baili Tianheng has decided to delay the global offering and listing of H-shares due to current market conditions, with an announcement to be made on November 12 on the Hong Kong Stock Exchange website [2] - Yiling Pharmaceutical's wholly-owned subsidiary has received approval for the listing application of Memantine Hydrochloride, a drug for treating moderate to severe Alzheimer's disease [2] - Haibo Shichuang signed a strategic cooperation agreement with CATL, committing to purchase no less than 200 GWh of electricity from 2026 to 2028 [2] Group 2 - Shengtun Mining plans to increase capital by approximately 1.423 billion RMB in its wholly-owned subsidiary, aiming to promote international development [3] - Founder Electric's shareholder Zhang Min reduced his stake by 1.6324 million shares, bringing his total holdings to 24.7936 million shares, or 5% of the total [3] - Tianji shares experienced a significant stock price fluctuation, with the controlling shareholder selling 8.4 million shares during this period [4] Group 3 - North Medical's chairman Xu Xiren has been arrested on criminal charges, with the board's operations remaining normal and control unchanged [5] - Shannon Chip's shareholder reduced their stake from 5.12% to 4.999985% without affecting the control of the company [6] - Jingao Technology clarified that its secretary has not made any statements in internal or external meetings regarding circulating rumors [7] Group 4 - Furi shares' controlling shareholder has had 170 million shares released from judicial freeze, with no impact on company operations [8] - Xinhua Insurance reported a premium income of 181.973 billion RMB in the first ten months, a 17% increase year-on-year [9] - BeiGene achieved a net profit of 1.139 billion RMB in the first three quarters, marking a turnaround from losses [9] Group 5 - Nanjing Public Utilities' controlling shareholder plans to transfer 7.61% of the company's total equity [9] - Green Energy Huichong's controlling shareholder intends to transfer 5.25% of shares to Ruitao Xingyuan [9] - Haibo Co. plans to establish a subsidiary for high-end component projects, including flywheel energy storage [9]

Group 1 - Peking University Medicine's chairman Xu Xiren has been arrested for criminal charges, but the company's control remains unchanged and operations are normal [3] - Victory Shares plans to issue shares and pay cash to acquire assets, along with raising supporting funds, following a significant stock price fluctuation [4] - Bangji Technology has terminated a major asset restructuring due to failure to reach an agreement with the counterparty, after experiencing a significant stock price drop [5] Group 2 - *ST Songfa has completed a major asset restructuring, changing its main business from ceramics to shipbuilding and high-end equipment [6] - Dongfang Yuhong plans to sell certain real estate assets, expecting a disposal loss of 25.81 million yuan, which exceeds 10% of its audited net profit for the last fiscal year [7] - Baili Tianheng has decided to delay its global H-share offering and listing due to current market conditions [8] Group 3 - Transsion Holdings is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its competitiveness and international brand image [9] - Shengtun Mining intends to invest approximately 1.423 billion yuan in its wholly-owned subsidiary, aiming to promote international development [10] - Haibo Sichuang has signed a strategic cooperation agreement with CATL, committing to a significant annual procurement of electricity [11] Group 4 - Century Huatong plans to repurchase shares worth between 500 million and 1 billion yuan, with a maximum repurchase price of 28.77 yuan per share [12] - Shannon Chip Innovation's major shareholder has reduced its stake by 549,200 shares, resulting in a slight decrease in ownership percentage [13] - Fangzheng Electric's shareholder Zhang Min has reduced his holdings by 1.6324 million shares, dropping below the 5% threshold [14] Group 5 - Haodangjia's controlling shareholder plans to reduce its stake by up to 2.7%, equating to approximately 39.45 million shares [15] - Zhibang Home's major shareholders have collectively reduced their convertible bond holdings by 13.51% [16] Group 6 - Longjian Shares has won a project worth 483 million yuan for road maintenance in Heilongjiang Province [17] - Zhejiang Communications has been awarded a project estimated at 11.103 billion yuan for urbanization construction [18] - Dash Smart has secured a project for the intelligentization of the new Huanggang Port, valued at 55.06 million yuan [19] Group 7 - Baiao Intelligent has signed a significant contract worth 97.22 million yuan for equipment sales [20] - Shaanxi Construction has won multiple projects exceeding 5 billion yuan, including a 5.12 billion yuan project in Zhejiang Province [21]

Core Viewpoint - Baili Tianheng has decided to delay the global offering and listing of its H-shares due to current market conditions, which will not proceed as per the prospectus arrangements [1] Group 1: H-share Offering Details - The company had initiated the H-share offering on November 7, with an expected closing date of November 12, aiming to issue 8.6343 million H-shares [1] - The offering was structured with 10% allocated for public sale in Hong Kong and 90% for international placement, with a price range of HKD 347.5 to HKD 389 per share, potentially raising up to HKD 3.359 billion [1] - The entry fee for one lot of 100 shares was HKD 39,292.31 [1] Group 2: Strategic Partnerships and Market Position - The company has a strong lineup of cornerstone investors, including strategic partner Bristol-Myers Squibb (BMS) and top-tier investment firms such as OrbiMed, GL Capital, Athos Capital, and Fullgoal Fund [1] - Baili Tianheng aims to become a multinational pharmaceutical company with a focus on oncology, leveraging its innovative research and development capabilities in the ADC/GNC/ARC fields [2] Group 3: Product Development and Collaborations - The company’s proprietary drug, iza-bren (BL-B01D1), is the world's first and only EGFR×HER3 bispecific ADC in Phase III clinical trials, showcasing significant clinical value and market potential [3] - In December 2023, Baili Tianheng entered a strategic collaboration with BMS, involving an upfront payment of USD 800 million and a potential total deal value of up to USD 8.4 billion, marking the largest transaction in the ADC field for a single product [3] Group 4: Market Context and Future Outlook - Despite the delay in the global offering, the company asserts that its business development and expansion efforts will continue unaffected [3] - The overall market has seen 16 A-share companies successfully list in Hong Kong this year, with 11 of them experiencing positive cumulative gains post-listing, although two companies that listed in November are currently trading below their offering price [3]

Macro Dynamics - The National Energy Administration promotes the orderly application of renewable energy for heating and cooling, encouraging the use of renewable energy in industries with high thermal demand such as textiles, pharmaceuticals, and food processing [2] - The government procurement scale for 2024 is set at 33,750.43 billion yuan, with goods, engineering, and services accounting for 23.54%, 41.01%, and 35.45% respectively [3] - The National Data Bureau's data infrastructure construction has entered a new phase of systematic interconnectivity [4] Industry News - The China Photovoltaic Industry Association has stated that circulating rumors about the industry are false, emphasizing the ongoing efforts to stabilize the sector [5] - Over 80,000 people have been evacuated in response to Typhoon "Phoenix," which is expected to make landfall in Taiwan [6] - Russia plans to issue sovereign bonds denominated in RMB for the first time, with details to be determined based on subscription results [7] Financial Institutions - Xinhua Insurance reported a cumulative original insurance premium income of 181.973 billion yuan for the first ten months of 2025, reflecting a 17% year-on-year increase [8] - The stock holdings of the top 40 global investment institutions in Chinese stocks have reached a two-year high, with a 1.1% increase in the third quarter of this year [9][10] - Foreign investment executives express strong interest in investing in China, citing confidence in the country's "14th Five-Year Plan" and its potential for long-term growth [11] Market Data - The A-share market saw a collective decline, with the Shanghai Composite Index down 0.07% and the Shenzhen Component down 0.36% on November 12 [13] - The Hong Kong stock market experienced a rise, with the Hang Seng Index up 0.85% and the Hang Seng Tech Index up 0.16% [14] - Domestic gold jewelry prices have surged, with some brands exceeding 1,310 yuan per gram, prompting banks to raise investment thresholds for gold accumulation [15] Company Dynamics - Beijing Medical announced that its chairman and president has been arrested for criminal charges, but the company's control and operations remain normal [17] - Bailitiheng has decided to delay its global issuance and listing of H-shares due to current market conditions [18] - Douyin has launched a "Minor Companion Plan" aimed at enhancing product features, content quality, and public welfare actions for minors [19]

北京商报讯(记者丁宁)11月12日晚间，百利天恒(688506)发布公告称，公司正在进行发行H股股票并在 香港联交所主板挂牌上市的相关工作。鉴于目前的市场情况，公司决定延迟本次H股的全球发售及上 市，并于11月12日在香港联交所网站发布公告。 ...

11月12日，百利天恒在港交所发布公告称，公司股票原定于11月17日上午9时在联交所开始交易。鉴于 现行市况，公司决定全球发售延迟，将不会根据招股章程进行，并将退回香港公开发售的申请股款。 来源：公司公告 延迟全球发售 2024年7月10日，公司向香港联交所递交此次发行上市申请，并于同日在香港联交所网站刊登此次发行 上市的申请资料。按照发行上市的时间安排，公司分别于2025年1月21日、2025年9月29日向香港联交所 分别重新递交本次发行的申请，并于同日在香港联交所网站刊登本次发行的申请资料。 百利天恒11月12日发布公告称，原定于11月7日至12日中午进行的公开招股已停止，将不会根据招股章 程进行全球发售。 对于延迟上市的后续安排，百利天恒宣布，所有公开发售的申请款项将悉数退还，退款安排预计11月17 日完成。公司与包销商相关的协议也不会生效。 公告称，延迟全球发售的决定不影响公司的目前业务。同时，公司及其整体协调人正在审慎评估有关全 球发售及上市的更新时间表。 责任编辑：杨红卜 2024年12月11日，公司收到中国证监会出具的《关于四川百利天恒药业股份有限公司境外发行上市备案 通知书》，中国证监会对公司 ...

Core Viewpoint - Baili Tianheng has announced a delay in its global offering and will not proceed with the public offering as originally planned due to current market conditions [2][6]. Group 1: Announcement Details - The public offering originally scheduled from November 7 to noon on November 12 has been halted, and all application funds for the public offering will be fully refunded, with the refund process expected to be completed by November 17 [6]. - The decision to delay the global offering does not affect the company's current business operations, and the company is carefully evaluating the timeline for the global offering and listing [7]. Group 2: Financial Performance - For the first three quarters of 2025, Baili Tianheng reported a revenue of 2.066 billion yuan, a year-on-year decrease of 63.52%, and a net profit attributable to shareholders of -495 million yuan [10]. - The company has developed innovative drug research platforms, including the HIRE-ADC platform, GNC platform, and HIRE-ARC platform, which are expected to enhance tumor treatment through combination therapies in the future [10]. Group 3: Company Background - Baili Tianheng focuses on cutting-edge global biopharmaceutical fields, aiming to address unmet clinical needs, particularly in the area of tumor macromolecule therapy, and possesses leading innovative research and development capabilities [9].

Group 1 - Peking University Medicine's chairman Xu Xiren has been arrested for criminal charges, but the company's control remains unchanged and operations are normal [3] - Victory Shares plans to issue shares and pay cash to acquire assets, along with raising supporting funds, following a significant stock price fluctuation [4] - Bangji Technology has terminated a major asset restructuring due to failure to reach an agreement with the counterparty, after experiencing a significant stock price decline [5] Group 2 - ST Songfa has completed a major asset restructuring, changing its main business from ceramics to shipbuilding and high-end equipment [6] - Oriental Yuhong plans to sell certain properties, expecting to incur an asset disposal loss of 25.81 million yuan, which exceeds 10% of its audited net profit [7] - Baili Tianheng has decided to delay its global issuance and listing of H-shares due to current market conditions [8] Group 3 - Transsion Holdings is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its competitiveness and international brand image [9] - Shengtun Mining intends to invest approximately 1.423 billion yuan in its wholly-owned subsidiary Shengtun Gold International [11] - Haibo Sichuang has signed a strategic cooperation agreement with CATL, committing to a cumulative procurement of no less than 200 GWh of electricity from 2026 to 2028 [12] Group 4 - Century Huatong plans to repurchase shares worth between 500 million and 1 billion yuan, with a maximum repurchase price of 28.77 yuan per share [14] - Shannon Chip Innovation's major shareholder has reduced its stake by 549,200 shares, bringing its holding below 5% [16] - Fangzheng Electric's shareholder Zhang Min has reduced his stake by 1.6324 million shares, now holding 5% of the total shares [17] Group 5 - Longjian Co. has won a project worth 483 million yuan for road maintenance in Heilongjiang Province [21][22] - Zhejiang Communications has been awarded a project estimated at 11.103 billion yuan for new urbanization construction in Tonglu County [23] - Dash Smart has secured a project for the intelligent construction of the new Huanggang Port, with a contract value of 55.06 million yuan [24]

https://www1.hkexnews.hk/listedco/listconews/sehk/2025/1112/2025111200239 _c.pdf 四川百利天恒药业股份有限公司 关于发行 H 股并上市的进展公告 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。 四川百利天恒药业股份有限公司（以下简称"公司"）正在进行发行 H 股 股票并在香港联合交易所有限公司（以下简称"香港联交所"）主板挂牌上市（以 下简称"本次发行"）的相关工作。 2025 年 11 月 7 日，公司在香港联交所网站刊登并派发 H 股招股说明书及 H 股香港公开发售安排等事宜。具体内容详见公司 2025 年 11 月 7 日在上海证券交 易所官方网站（www.sse.com.cn）披露的《四川百利天恒药业股份有限公司关于 刊发 H 股招股说明书、H 股发行价格区间及 H 股香港公开发售等事宜的公告》 （公告编号：2025-082）。 鉴于目前的市场情况，公司决定延迟本次 H 股的全球发售及上市，并于 2025 年 11 月 12 日在香港联 ...

因本次拟发行的股份为H股，本次发行股份的认购对象仅限于符合相应条件的境外投资者及依据中国相 关法律法规有权进行境外证券投资管理的境内证券经营机构和合格境内机构投资者及其他符合监管规定 的投资者，公司将不会在境内证券交易所的网站和符合监管机构规定条件的媒体上刊登公告内容，相关 公告内容可于香港联交所网站进行查询。 智通财经APP讯，百利天恒(688506.SH)发布公告，鉴于目前的市场情况，公司决定延迟本次H股的全球 发售及上市，并于2025年11月12日在香港联交所网站发布公告。 ...