Group 1 - The company announced on October 31 that it has officially submitted its H-share listing application to the Hong Kong Stock Exchange by the end of September 2025 [2] - The company received acceptance for the filing from the China Securities Regulatory Commission in mid-October [2] - The company's board and management team are actively working on advancing the H-share issuance process [2]

Core Insights - Changchun Gaoxin announced that its product Jinbeixin is expected to be approved by the end of June 2025 and will start sales in mid-July 2025, with good sales performance already reported [2] - The company has established a sales team of over 200 people and is rapidly increasing its coverage in hospitals and channels [2] - The product Meishiya, targeting cancer-related anorexia-cachexia syndrome, has generated nearly 100 million yuan in sales revenue in the first three quarters of this year [2] - The company plans to actively promote its products in conjunction with national medical insurance negotiations to enhance recognition and acceptance among hospitals, doctors, and patients [2] - The company aims to focus resources on new products with high market potential to drive new business growth and support its diversification and transformation efforts [2]

证券代码：000661 证券简称：长春高新 公告编号：2025-140 长春高新技术产业（集团）股份有限公司 关于回购股份进展情况的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 长春高新技术产业（集团）股份有限公司（以下简称"公司"）于2024年 11月14日召开了第十一届董事会第六次会议，审议通过了《关于公司回购股份 方案的议案》，同意公司使用自有资金及金融机构股票回购专项贷款资金以集 中竞价交易方式回购部分公司已在境内发行的人民币普通股（A股）股票，全 部用于后续实施公司及子公司核心团队股权激励或员工持股计划。拟用于回购 资金总额不低于人民币3亿元（含）、不超过人民币5亿元（含），回购价格不 超过人民币160.00元/股。具体回购股份数量以回购期限届满时实际回购的股份 数量为准。 上述内容详见公司于2024年11月16日、2024年11月21日在《中国证券报》 《证券时报》《上海证券报》《经济参考报》及巨潮资讯网（http://www.cnin fo.com.cn）上分别披露的《关于公司回购股份方案暨取得金融机构股票回购专 项贷款的公告》（公告编号 ...

Core Viewpoint - The company plans to repurchase a portion of its A-shares through centralized bidding, with a budget of 300 million to 500 million yuan, aimed at employee stock ownership plans or equity incentives [1] Summary by Sections Repurchase Plan - The company intends to repurchase shares at a price not exceeding 160 yuan per share [1] - The total amount allocated for the repurchase is between 300 million and 500 million yuan [1] Current Repurchase Status - As of October 31, 2025, the company has repurchased a total of 3.8945 million shares, representing 0.95% of the total share capital [1] - The highest transaction price recorded was 112.25 yuan per share, while the lowest was 84 yuan per share [1] - The total transaction amount for the repurchased shares is 399 million yuan, including transaction fees [1] Future Plans - The company will continue to repurchase shares according to the outlined plan and will disclose updates in a timely manner [1]

南财智讯10月31日电，长春高新在投资者关系活动中表示，公司多个在研管线取得积极进展，全球首创 超长效生长激素月制剂GenSci134I期临床正在进行，NK3R拮抗剂GenSci074已启动III期临床试验，PD-1 激动剂GenSci120预计明年进入二期临床。此外，多款抗体药物偶联物（BsADC）及AI设计新药的临床 试验申请已获受理，研发布局覆盖肿瘤、内分泌、女性健康及免疫等领域。 ...

Core Viewpoint - Changchun High-tech (000661) reported positive sales performance for its new products during an institutional conference call, highlighting the successful launch and sales of Jin Peixin and Meishiya products in the cancer treatment sector [1] Group 1: Product Launch and Sales Performance - Jin Peixin received approval by the end of June 2025 and began sales in mid-July, achieving sales revenue exceeding 55 million yuan in the third quarter of 2025 [1] - The company has established a sales team of over 200 people and is rapidly increasing its coverage in hospitals and distribution channels [1] Group 2: Market Strategy and Future Plans - The Meishiya product for cancer-related anorexia-cachexia syndrome has generated nearly 100 million yuan in sales revenue in the first three quarters of this year [1] - The company plans to actively promote the sales of related products in conjunction with the progress of national medical insurance negotiations [1]

Financial Performance - In the first three quarters of 2025, the company achieved operating revenue of 9.807 billion CNY, a decrease of 5.60% year-on-year [3] - Net profit attributable to shareholders was 1.165 billion CNY, down 58.23% compared to the previous year [3] - Subsidiary JinSai Pharmaceutical generated revenue of 8.213 billion CNY, a slight increase of 0.61%, but net profit decreased by 49.96% to 1.421 billion CNY [3] - Subsidiary Baike Bio reported revenue of 474 million CNY, a significant decline of 53.76%, with a net loss of 158 million CNY, down 164.76% [3] - Subsidiary Huakang Pharmaceutical's revenue was 542 million CNY, down 5.38%, with a net profit of 36 million CNY, an increase of 2.46% [3] - Subsidiary Gaoxin Real Estate achieved revenue of 544 million CNY, a decrease of 7.97%, with a net profit of 23,700 CNY, down 99.39% [3] New Product Developments - JinBeiXin (伏欣奇拜单抗), a new treatment for acute gouty arthritis, was launched in July 2025, generating over 55 million CNY in sales by Q3 2025 [5] - The product MeSiYa, targeting cancer-related cachexia, achieved nearly 100 million CNY in sales during the first three quarters of 2025 [5] - The company is focusing resources on promoting new products with high market potential to drive future growth [5] Collaborations and Partnerships - The company has partnered with ALK-Abelló A/S to expand its product pipeline in the respiratory allergy field, leveraging its sales channels for rapid promotion [6] - The collaboration includes both injectable and tablet forms of desensitization products, with plans to expedite clinical trials for the tablet version [6] Research and Development Pipeline - The company is advancing clinical trials in traditional areas like endocrine metabolism and women's health, as well as innovative directions in oncology and immunology [7] - Key projects include: - GenSci134, a long-acting growth hormone for adults, currently in Phase I trials [8] - GenSci098, a TSHR antagonist for thyroid conditions, progressing through Phase I trials [8] - GenSci120, a PD-1 agonist, expected to enter Phase II trials in early 2026 [8] - Multiple antibody-drug conjugates (BsADC) for various cancers are in the pipeline, with clinical trial applications submitted [8] H Share Listing Progress - The company submitted its H Share listing application to the Hong Kong Stock Exchange at the end of September 2025, receiving regulatory acceptance in mid-October [9]

Core Viewpoint - Changchun High New's Q3 2025 report indicates a decline in both revenue and net profit, highlighting potential challenges in the company's financial performance [1] Financial Performance - For the first three quarters, the company achieved operating revenue of 9.807 billion yuan, representing a year-on-year decrease of 5.60% [1] - The net profit attributable to shareholders of the listed company was 1.165 billion yuan, down 58.23% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 1.269 billion yuan, reflecting a year-on-year decline of 55.33% [1]

Summary of Changchun High-tech Conference Call Company Overview - **Company**: Changchun High-tech - **Date**: October 30, 2025 Key Points Financial Performance - **Overall Revenue**: Approximately 9.8 billion RMB, with a profit of about 1.165 billion RMB [3] - **Jinsai Pharmaceutical**: Revenue remained stable at 8.213 billion RMB, profit down by approximately 50% [3] - **Baike Pharmaceutical**: Revenue impacted by the return of shingles vaccine, down 53% to about 474 million RMB, resulting in a loss of approximately 158 million RMB [2][3] - **Traditional Chinese Medicine Segment**: Revenue slightly decreased to 542 million RMB, but profit increased by 2% to 36 million RMB [3] - **Real Estate Segment**: Revenue decreased by 8% to 544 million RMB, maintaining a slight profit [3] Product Pipeline and Market Strategy - **Medicare National Negotiation Participation**: Products include long-acting growth hormone Jinsai Zeng, Meishiya, and Children's Golden Granules, with decisions based on pricing [2][5] - **Innovative Drug Pipeline**: Products like NK422 and NK27 have shown preliminary clinical data, with expectations for rapid growth in business development (BD) from 2026 to 2028 [2][6] - **Sales Performance of New Products**: Strong sales momentum for Fuxing Umbilical Monoclonal Antibody, Meishiya, and Children's Golden Granules [2][6] - **Allergy Treatment Collaboration**: Partnership with LK for dust mite desensitization treatment, with plans to establish allergy desensitization centers in major pediatric hospitals [2][7] Clinical Trials and Development - **PD-1 Agonist**: Currently in Phase I clinical trials, with plans for Phase II trials following data disclosure [13] - **Clinical Progress of Meishiya**: Used for cancer anorexia and cachexia treatment, currently enrolling for clinical trials [11] - **Growth Hormone Monthly Formulation**: Adult SAD trials progressing well, transitioning to pediatric CAD trials expected soon [11] Market Challenges and Opportunities - **Non-Entry into Medicare for Jinsai Zeng**: Decision based on anticipated unreasonable pricing from the government; plans to negotiate with commercial insurance [12][14] - **Sales Team Expansion**: Sales team has grown to over 200 members, aiming to cover more than 1,500 hospitals [10][17] - **Focus on Respiratory and Allergy Treatments**: Targeting major diseases like cystic fibrosis and chronic obstructive pulmonary disease (COPD) with innovative products [19] Future Outlook - **Growth Potential**: Despite short-term challenges, long-term growth potential remains strong, especially in innovative drug development and market expansion [21][24] - **Hong Kong Listing Progress**: Normal progress with documents submitted by September 30, aiming for successful issuance next year [22] - **Clinical Pipeline**: 41 clinical pipelines in development, focusing on maximizing potential through continuous R&D [25] Additional Insights - **Market Size for Allergy Treatments**: Approximately 20 million children in China suffer from moderate to severe allergic rhinitis, providing a substantial market opportunity [8] - **Sales Strategy**: Emphasis on professional promotion and market penetration to enhance product visibility and acceptance among healthcare providers [18] This summary encapsulates the key insights from the conference call, highlighting the financial performance, product pipeline, market strategies, and future outlook of Changchun High-tech.

Core Insights - Changchun Gaoxin reported a decline in both revenue and net profit for the first three quarters of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company's operating revenue for the first three quarters reached 9.807 billion yuan, representing a year-on-year decrease of 5.6% [1] - The net profit attributable to shareholders was 1.165 billion yuan, showing a significant year-on-year decline of 58.23% [1]