2025年12月15日，长春高新子公司长春金赛药业有限责任公司（以下简称"金赛药业"）宣布，其全资子 公司上海赛增医疗科技有限公司（以下简称"赛增医疗"）已与美国生物医药公司Yarrow Bioscience, Inc. 正式签署独家许可协议（以下简称"协议"）。根据协议，Yarrow获得了金赛药业自主研发的人源化促甲 状腺激素受体（TSHR）拮抗型单克隆抗体GenSci098（YB-101）在大中华区以外的全球独家开发、生 产和商业化权利。 此次合作标志着金赛药业的创新研发能力进入一个新的里程碑，其自主研发的抗体药物将依托国际合作 伙伴的网络与资源，加速服务全球患者。 协议约定，赛增医疗将获得1.2亿美元首付款及近期开发里程碑款项（包括7000万美元不可退还、不可 抵扣的首付款，及后续5000万美元的近期开发里程碑款项）。根据GenSci098在临床开发、注册及商业 化等方面取得的进展，赛增医疗将有权就本次独家许可至多获得13.65亿美元里程碑付款，后续产品上 市后并有权获得超过净销售额10%的销售提成。这一合作框架，既反映了该项目的当前价值，也显示了 国际机构对金赛药业研发能力的认可和信心。 据悉，Yar ...

北京商报讯（记者 丁宁）12月16日，长春高新（000661）盘中一度涨逾7%，截至北京商报记者发稿， 长春高新报96.7元/股，涨幅为5.04%。 消息面上，长春高新发布公告称，公司下属公司赛增医疗与Yarrow Bioscience, Inc. 签订GenSci098注射 液项目独家许可协议。根据协议，赛增医疗预计可获得1.2亿美元首付款及近期开发里程碑款项，并将 有资格获得与特定研发、监管及商业化有关的里程碑付款。赛增医疗将有权就本次独家许可至多获得 13.65亿美元里程碑付款，后续产品上市后并有权获得超过净销售额10%的销售提成。 ...

（文章来源：北京商报） 12月16日，长春高新（000661）盘中一度涨逾7%，截至北京商报记者发稿，长春高新报96.7元/股，涨 幅为5.04%。 消息面上，长春高新发布公告称，公司下属公司赛增医疗与Yarrow Bioscience, Inc. 签订GenSci098注射 液项目独家许可协议。根据协议，赛增医疗预计可获得1.2亿美元首付款及近期开发里程碑款项，并将 有资格获得与特定研发、监管及商业化有关的里程碑付款。赛增医疗将有权就本次独家许可至多获得 13.65亿美元里程碑付款，后续产品上市后并有权获得超过净销售额10%的销售提成。 ...

Group 1 - The article emphasizes the importance of expanding domestic demand as a strategic initiative, advocating for a long-term mechanism to enhance consumer spending and confidence [1] - The China Securities Regulatory Commission (CSRC) is set to implement reforms to the ChiNext board and accelerate the rollout of the "1+6" reform measures for the Sci-Tech Innovation Board, aiming to enhance market stability and promote equity public funds [2] - The State Grid Corporation of China is focusing on building a new power system and energy framework to achieve carbon peak goals [3] Group 2 - The Ministry of Commerce and five other departments have issued an action plan to promote high-quality development in the service outsourcing sector, targeting the cultivation of internationally competitive leading enterprises by 2030 [4] - The State Administration of Foreign Exchange is emphasizing macro-prudential management of the foreign exchange market to maintain the stability of the RMB exchange rate and ensure a balanced international payment [5] - The first batch of L3 autonomous driving vehicles has received approval for road testing in designated areas of Beijing and Chongqing [6] Group 3 - There is a collective price increase trend among manufacturers of lithium iron phosphate cathode materials, expected to continue until the fourth quarter of next year [7] - The Henan Province Postal Regulations will take effect on March 1, 2026, imposing fines for unauthorized actions by express delivery companies [8] - Several companies, including Aerospace Electronics and TCL Technology, have announced significant capital investments and acquisitions, indicating active market movements [9] Group 4 - Nasdaq plans to submit a proposal to the SEC to extend trading hours for stocks and exchange-traded products from 16 to 23 hours per week [15] - STMicroelectronics has delivered over 5 billion RF antenna chips to SpaceX for its Starlink satellite network, with expectations to double deliveries by 2027 [17] - U.S. stock indices experienced collective declines, with the Dow Jones down 0.09%, Nasdaq down 0.59%, and S&P 500 down 0.16% [18]

Key Points - The article discusses recent developments in the Chinese financial and industrial sectors, highlighting regulatory measures and economic indicators that may impact investment opportunities and market stability [4][5][6]. Group 1: Regulatory Developments - The China Securities Regulatory Commission (CSRC) held a meeting to discuss the implementation of measures from the Central Economic Work Conference, emphasizing the need to enhance market stability and promote high-quality listed companies [4]. - The State Administration of Foreign Exchange (SAFE) also convened to ensure the stable operation of the foreign exchange market, focusing on maintaining the RMB exchange rate and international balance of payments [4]. Group 2: Economic Indicators - In November, the industrial added value of large-scale enterprises in China grew by 4.8% year-on-year, with a month-on-month increase of 0.44%. The cumulative growth for the first eleven months was 6.0% [5]. - The growth rates for different sectors in November included mining at 6.3%, manufacturing at 4.6%, and electricity, heat, gas, and water production and supply at 4.3% [5]. Group 3: Market Trends and Company News - The number of cities with rising new home prices increased in November, with Hefei and Xiangyang showing the highest growth rates [6]. - The Ministry of Industry and Information Technology announced the first batch of L3 conditional autonomous driving vehicle permits, marking a significant step towards commercialization in designated areas [6]. - The National Energy Administration projected that by 2025, total power generation capacity will exceed 3.8 billion kilowatts, with a year-on-year growth of 14% [6]. Group 4: Company-Specific Developments - Muxi Co., Ltd. will be listed on the Sci-Tech Innovation Board on December 17 [9]. - Aerospace Electronics plans to invest 727 million yuan to gain control of its subsidiary, Aerospace Rocket Company [12]. - TCL Technology intends to purchase a 10.77% stake in Shenzhen Huaxing Semiconductor for 6.045 billion yuan [21].

丨2025年12月16日星期二丨 NO.1 复星医药拟出资14.12亿元收购绿谷医药 12月15日，复星医药公告称，为丰富公司中枢神经系统治疗领域的创新产品管线矩阵，其控股子公司复 星医药产业与绿谷（上海）医药科技有限公司（以下简称绿谷医药）及其现有相关股东共同签订相关投 资协议，拟出资约14.12亿元控股收购绿谷医药。 12月15日，药明康德公告称，公司全资子公司上海药明康德新药开发有限公司已收到受让方支付的首期 股权转让价款15.4亿元，《股权转让协议》约定的交割先决条件已满足，本次交易已完成交割，目标公 司不再纳入公司合并报表范围。预计本次交易将产生税后净利润约9.6亿元，占公司最近一期（2024年 度）经审计归母净利润的比例超过10%。目标公司及相关各方将按协议约定办理市监局变更登记手续， 预计2025年12月31日之前完成变更登记。 点评：药明康德通过出售资产实现了可观的利润，既符合公司聚集CRDMO业务的战略规划，回笼的资 金也为公司加速全球化能力和产能的投放提供支持。 （文章来源：每日经济新闻） NO.2 长春高新：下属公司签署GenSci098注射液项目独家许可协议可至多获得13.65亿美元里 ...

Core Viewpoint - Changchun Gaoxin has signed an exclusive licensing agreement for the GenSci098 injection project with Yarrow Bioscience, which is expected to generate significant upfront and milestone payments for the company [1] Group 1: Financial Aspects - The agreement includes an upfront payment of $70 million, which is non-refundable and non-offsettable, along with an additional $50 million in recent development milestone payments [1] - The total potential milestone payments that Changchun Gaoxin could receive from this exclusive license could reach up to $1.365 billion [1] - The company will also be entitled to receive over 10% of net sales as a sales commission once the product is launched [1] Group 2: Product Information - GenSci098 is a humanized monoclonal antibody that acts as an antagonist to the thyroid-stimulating hormone receptor (TSHR), developed by Jinsai Pharmaceutical [1] - The product is classified as a Class I new drug for therapeutic biological products and is aimed at treating conditions related to hyperthyroidism [1] - GenSci098 is currently being researched for its applications in treating thyroid eye disease (TED) and Graves' disease (GD) [1]

证券日报网讯12月15日，长春高新（000661）在互动平台回答投资者提问时表示，如有相关达到信息披 露标准的情况，公司会按照法律法规要求履行披露义务，经营情况请持续关注公司公告等。 ...

Core Viewpoint - Changchun High-tech (000661) is adapting to stricter regulatory requirements by expanding relevant indications, which will enhance product sales and compliance [1] Group 1: Regulatory Adaptation - The company is focusing on expanding relevant indications to better meet regulatory demands, which is expected to facilitate product sales [1] - The ongoing efforts to leverage the company's brand, channels, and quality will support the promotion of related products [1] Group 2: Diversification and Transformation - The company has been actively pursuing diversification and transformation, building on the foundation laid during the research and sales promotion of growth hormones [1] - This foundation will continue to empower new pipelines, fostering a virtuous cycle of "advantage sharing and resource reuse" [1]

Core Insights - Changchun High-tech (000661.SZ) has signed an exclusive licensing agreement for the GenSci098 injection project with Yarrow Bioscience, Inc. [1] - The agreement includes an upfront payment of $120 million, consisting of a non-refundable, non-offsettable payment of $70 million and a subsequent milestone payment of $50 million [1] - The company is eligible for up to $1.365 billion in milestone payments related to specific R&D, regulatory, and commercialization activities, along with over 10% sales commission on net sales after product launch [1] Financial Details - The initial payment structure includes a total of $120 million, with $70 million as an upfront payment and $50 million as a milestone payment [1] - Potential milestone payments could reach up to $1.365 billion, indicating significant future revenue opportunities [1] Product Information - GenSci098 is a humanized monoclonal antibody that acts as an antagonist to the thyroid-stimulating hormone receptor (TSHR), developed by Jinsai Pharmaceutical [1] - The product aims to treat hyperthyroidism by blocking TSHR interactions, thereby inhibiting the synthesis and release of thyroid hormones and reducing thyroid cell proliferation [1] - Additionally, GenSci098 has the potential to improve symptoms associated with exophthalmos [1]