(a) The publication of this announcement on the Exchange's website does not give rise to any obligation of the Company, its sole sponsor, overall coordinators, advisers or members of the underwriting syndicate to proceed with an offering or a placing in Hong Kong or any other jurisdiction. There is no assurance that the Company will proceed with the offering or the placing; (b) The application to which this announcement relates has not been approved for listing and the Exchange and the Commission may accept ...

登录新浪财经APP 搜索【信披】查看更多考评等级 长春高新技术产业（集团）股份有限公司于2024年11月14日召开第十一届董事会第六次会议，审议通过 回购股份方案。公司计划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 分已在境内发行的人民币普通股（A股）股票。 此次回购资金总额不低于3亿元（含）、不超过5亿元（含），回购价格不超过160元/股。回购的股份将 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。相关公告于2024年11月16日、2024 年11月21日分别在《中国证券报》《证券时报》《上海证券报》《经济参考报》及巨潮资讯网披露。 根据相关法规，公司需在回购期间每月前三个交易日内公告截至上月末的回购进展情况。截至2025年9 月30日，相比前次披露，回购股份进展情况无变化。 公司强调，此次回购符合相关法律、法规规定及A股回购方案要求。在回购时间、数量、价格及集中竞 价交易委托时段等方面，均符合《深圳证券交易所上市公司自律监管指引第9号——回购股份》相关规 定。公司未在可能影响股价的重大事项发生至依法披露期间回购股票，且以集中竞价交易方式回购股份 时，委托价格、交易时 ...

Core Viewpoint - Changchun High-tech (000661.SZ) announced that its subsidiary, Changchun Baike Biotechnology Co., Ltd. (referred to as "Baike Biotechnology"), received the "Drug Clinical Trial Approval Notice" from the National Medical Products Administration for its acellular pertussis-diphtheria-tetanus combined vaccine with Hib [1] Group 1 - The approved vaccine, referred to as "DTP-Hib combined vaccine," is designed to simultaneously prevent whooping cough, diphtheria, tetanus, and infections caused by Haemophilus influenzae type b [1] - The target recipients of the vaccine are infants aged 2 months and older, and it is intended to stimulate the immune response to prevent invasive infections caused by these pathogens [1]

Summary of Conference Call Notes Industry Overview - The focus remains on the innovative drug sector, benefiting from business development (BD) transactions and data catalysts, with companies like Heng Rui continuing to push forward despite recent large transactions not meeting expectations [1][2] - The CRO (Contract Research Organization), CDMO (Contract Development and Manufacturing Organization), and upstream supply chain are benefiting from anticipated interest rate cuts in the U.S. and recovering order performance [1][2] - Medical devices, particularly high-consumption and equipment sectors, are showing signs of reversing performance difficulties, with Q3 expected to show improvement [1][2] Key Investment Strategies - Emphasis on the innovative drug line, with catalysts from the ESMO conference and BD transactions, alongside Q3 performance improvements [1][5] - Attention to the impact of basic drug directory policies and adjustments in traditional Chinese medicine companies, which may provide short-term catalysts [1][5] - Portfolio adjustments in October 2025 included increasing positions in companies like Changchun High-tech, Xianju Pharmaceutical, Betta Pharmaceuticals, and Tengke Pharmaceuticals, as well as companies showing performance inflection points [1][6] Core Recommendations - Recommended stocks based on three criteria: vertical extension capability in the supply chain, realization capability, and systematic early-stage R&D platform capability [9] - Specific recommendations include Changchun High-tech, Betta Pharmaceuticals, Amgen Pharmaceuticals, and Xiansheng Pharmaceuticals [9] - Notable mentions include Amgen, WuXi Biologics, and Miaomei Helian, expected to benefit from strong Taiji business, recovery in monoclonal antibody business, and high growth in ADC projects, with significant earnings growth anticipated in 2025 [1][19] Sector-Specific Insights - The innovative drug sector is viewed as the strongest and most fundamentally sound segment, with a focus on recovery from previous difficulties and policy changes [3][4] - CROs are showing early signs of recovery, with significant performance from WuXi and similar companies [3][4] - Medical devices are also recovering, with various companies performing well across different segments [4] Company-Specific Developments - **Betta Pharmaceuticals**: Notable for strong financial performance and ongoing business development, including an IPO process in Hong Kong expected to bring positive momentum [10] - **Amgen Pharmaceuticals**: Recently introduced strategic investment from Haizheng Pharmaceuticals, enhancing future growth prospects [11] - **Miaomei Helian**: Positioned as a leader in the ADC CRDMO sector, with significant growth expected from backend projects [20] - **Tianyu Co.**: Anticipated to maintain strong growth due to a diverse product pipeline and CDMO business expansion [25] - **Lianbang Pharmaceuticals**: Focused on innovative drugs, with several promising projects in clinical trials expected to drive future growth [26][27] Market Performance - The recommended portfolio showed an average increase of 5.5 percentage points in September, outperforming the broader pharmaceutical sector by 7.2 percentage points [6] - Specific stocks like Changchun High-tech and WuXi Biologics saw significant price increases of 26% and 23%, respectively [6] Conclusion - The innovative drug sector remains a key focus for investment, with several companies showing promising signs of recovery and growth potential. The overall sentiment is positive, with expectations for continued performance improvements in Q3 and beyond, driven by strategic investments and favorable market conditions [1][2][5]

Core Viewpoint - Changchun Gaoxin (000661.SZ) has repurchased a total of 3,894,517 shares, representing 0.95% of its total share capital, through a dedicated repurchase account as of September 30, 2025 [1] Summary by Category - **Share Repurchase Details** - The company conducted the share repurchase through centralized bidding transactions [1] - The highest transaction price was 112.25 CNY per share, while the lowest was 84.00 CNY per share [1] - The total transaction amount reached 399,999,400.76 CNY, including transaction fees [1]

Core Viewpoint - A new wave of pharmaceutical companies is applying for listings on the Hong Kong Stock Exchange (HKEX), with 11 companies submitting applications in a two-day period, indicating a significant uptick in market activity [1][3]. Group 1: Listing Activity - Approximately 25 pharmaceutical companies have submitted listing applications to HKEX since September, with a notable concentration of 11 applications on September 29-30 [3]. - Companies such as Sichuan Good Doctor Cloud Medical Technology Group and Annoroad Gene Technology are among those applying, with some indicating they are unprofitable biotech firms under the HKEX Chapter 18A rules [1][3]. - The trend of "A+H" dual listings is emerging, with several companies already listed on A-shares also seeking to list on HKEX, enhancing their financing capabilities [5][6]. Group 2: Market Drivers - The HKEX's 18A listing rules, introduced in 2018, have created a pathway for unprofitable biotech companies to go public, while the "Tech Company Fast Track" launched in 2025 further streamlines the listing process for tech firms [4]. - Increased demand for healthcare services due to population aging and accelerated regulatory approvals from domestic drug monitoring agencies are contributing to a favorable environment for pharmaceutical companies [4]. Group 3: Financial Performance - Many of the companies applying for listings are currently unprofitable, with significant losses reported. For instance, Meikang Aote and its subsidiary Blue Nancheng reported losses of approximately 195 million yuan and 112 million yuan, respectively, in recent financial periods [9][10]. - The trend of unprofitable companies seeking listings under the 18A rules highlights the role of HKEX as an "innovation incubator" for the biotech sector [10]. Group 4: Future Implications - The rise of "A+H" listings is expected to reshape the competitive landscape of the domestic biotech industry, potentially accelerating industry consolidation and enhancing the market position of well-capitalized firms [7]. - Increased capital influx is anticipated to boost the development of innovative drugs and technologies, thereby improving overall industry innovation efficiency [7].

Core Viewpoint - Changchun High-tech announced that its subsidiary, Changchun Baike Biotechnology Co., Ltd., received the "Drug Clinical Trial Approval Notice" from the National Medical Products Administration for its adsorbed acellular DTPa-Hib combined vaccine [1] Group 1 - The approved Hib vaccine is in a lyophilized form, which, when used in conjunction with the liquid form of the DTPa vaccine, reduces the number of injections required [1] - This combination aims to improve vaccination compliance among infants and young children [1]

Core Viewpoint - Changchun High-tech announced that Changchun Baike Biotechnology Co., Ltd. received the clinical trial approval notice from the National Medical Products Administration for its combined vaccine against whooping cough, diphtheria, tetanus, and invasive infections caused by Haemophilus influenzae type b, indicating progress in vaccine development and potential market impact [1] Group 1 - The combined vaccine aims to reduce the number of doses required and improve vaccination rates, which is a significant advantage in public health [1] - The vaccine is currently in the clinical trial phase, highlighting ongoing research and development efforts in the biotechnology sector [1]

证券代码：000661 证券简称：长春高新 公告编号：2025-133 长春高新技术产业（集团）股份有限公司 关于子公司吸附无细胞百白破 b 型流感嗜血杆菌联合疫苗 受理号：CXSL2500582 通知书编号：2025LP02637 药品名称：吸附无细胞百白破 b 型流感嗜血杆菌联合疫苗 结论：建议批准开展用于预防百日咳、白喉、破伤风和 b 型流感嗜血杆菌引起 的侵袭性感染（包括脑膜炎、肺炎、败血症、蜂窝组织炎、关节炎、会厌炎等）的 临床试验。 批准日期：2025 年 10 月 9 日 二、吸附无细胞百白破 b 型流感嗜血杆菌联合疫苗的简介 联合疫苗具有"一剂多防"的优势，可减少接种次数、降低接种成本，提升疫 苗接种覆盖率。因其符合公共卫生需求和免疫接种的发展趋势，正成为国内疫苗发 展的重要方向。 本次百克生物获批临床的吸附无细胞百白破 b 型流感嗜血杆菌联合疫苗（以下 简称"百白破-Hib 联合疫苗"）是一种可以同时预防百日咳、白喉、破伤风以及 b 型流感嗜血杆菌的疫苗。接种对象为 2 月龄及以上婴幼儿，接种后可刺激机体产生 免疫应答，用于预防百日咳、白喉、破伤风和 b 型流感嗜血杆菌引起的侵袭性感染。 临 ...

Core Viewpoint - Changchun High-tech's subsidiary, Baike Biological, has received approval from the National Medical Products Administration for clinical trials of an adsorbed acellular combined vaccine for whooping cough, diphtheria, tetanus, and invasive infections caused by Haemophilus influenzae type b [1] Group 1 - The approved vaccine aims to prevent infections caused by whooping cough, diphtheria, tetanus, and Haemophilus influenzae type b [1] - Currently, there are no approved adsorbed acellular combined vaccines from domestic manufacturers in the market [1]