Core Viewpoint - Baicheng Pharmaceutical has entered into a collaboration agreement with Zhejiang Zhongshen Innovative Pharmaceutical Technology Co., Ltd. for the BIOS-0629 project, focusing on research, clinical trials, and commercialization in the Greater China region [1] Group 1: Collaboration Details - The agreement stipulates that Baicheng Pharmaceutical will handle research and development, clinical trials, and registration for the product [1] - Zhejiang Zhongshen will be responsible for R&D transformation, production, sales, and market expansion in the Greater China region [1] Group 2: Financial Terms - Following the signing of the contract, Zhongshen will pay milestone payments totaling 300 million yuan based on R&D progress [1] - Baicheng Pharmaceutical will receive a 10% commission on sales revenue after the product is launched in the Greater China market [1]

格隆汇11月12日丨百诚医药(301096.SZ)公布，公司于近期就自主研发的BIOS-0629项目与浙江众神创新 医药科技有限公司（简称"众神创新"）达成合作意向并签署《技术开发合作协议》。公司负责合作产品 的研究开发工作、临床试验、注册申报等工作。众神创新负责大中华区域的研发转化、上市后生产销售 和市场拓展工作。本合同签署后，众神创新根据研发节点支付里程碑款3亿元。合作产品大中华区上市 后，公司另享有销售额10%的提成收益。 ...

Core Viewpoint - The company has entered into a collaboration agreement with Zhejiang Zhongshen Innovative Pharmaceutical Technology Co., Ltd. for the development of the BIOS-0629 project, which includes responsibilities for research, clinical trials, and market expansion [1] Group 1: Collaboration Details - The company will handle the research and development, clinical trials, and registration of the product [1] - Zhejiang Zhongshen will be responsible for the research transformation, production, sales, and market expansion in the Greater China region [1] - Upon signing the contract, Zhejiang Zhongshen will pay a milestone fee of 300 million yuan based on research progress [1] Group 2: Financial Incentives - The company will receive a 10% commission on sales revenue once the product is launched in the Greater China market [1]

Core Viewpoint - The company has signed a technology development cooperation agreement with Zhejiang Zhongshen Innovative Pharmaceutical Technology Co., Ltd. for the BIOS-0629 project, which includes research, clinical trials, and registration [1] Group 1 - The company will be responsible for the research and development, clinical trials, and registration of the BIOS-0629 project [1] - Zhejiang Zhongshen will handle R&D transformation, post-market production, sales, and market expansion in the Greater China region [1] - The transaction price for the agreement is set at 300 million RMB, with milestone payments of 300 million RMB to be made upon reaching R&D milestones [1] Group 2 - The company will receive a 10% commission on sales revenue from the product once it is launched in the Greater China region [1]

证券代码：301096 证券简称：百诚医药 公告编号：2025-057 杭州百诚医药科技股份有限公司 关于BIOS-0629项目签署《技术开发合作协议》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。 特别提示： 1、合同的生效条件：本协议自双方盖章之日起生效。 2、重大风险及重大不确定性：鉴于药物研发的复杂性和风险性，尽管合同条款 中已就合作开发内容、对价支付等相关内容作出了明确的约定，但在合同履行过程中， 可能受政策、市场、现有技术水平或条件无法克服的技术困难等相关因素影响，本项 目存在研究开发失败或部分失败的风险。且新药上市后的销售情况受包括市场环境、 行业发展等在内的诸多因素影响，存在不确定性。敬请广大投资者谨慎决策，注意防 范投资风险。 3、合同履行对公司本年度经营成果的影响：本次协议的签订和顺利实施后，预 计将对杭州百诚医药科技股份有限公司（以下简称"公司"）未来经营业绩产生积极 影响（最终以公司经审计的定期报告为准）。 公司于近期就自主研发的 BIOS-0629 项目与浙江众神创新医药科技有限公司（以 下简称"众神创新"）达成合作意向并签署 ...

Core Insights - The stock price of Baicheng Pharmaceutical increased by 2.17% on November 10, reaching 53.66 CNY per share, with a total market capitalization of 5.861 billion CNY [1] - The company has experienced a year-to-date stock price increase of 41.43%, but has seen declines of 22.22% over the last five trading days, 8.35% over the last 20 days, and 7.18% over the last 60 days [1] - Baicheng Pharmaceutical's revenue for the first nine months of 2025 was 510 million CNY, a year-on-year decrease of 29.33%, with a net profit of 6.1242 million CNY, down 95.68% year-on-year [2] Company Overview - Baicheng Pharmaceutical, established on June 28, 2011, and listed on December 20, 2021, is located in Hangzhou, Zhejiang Province [2] - The company's main business involves providing drug research and development services and technology transfer to pharmaceutical companies and R&D investment firms [2] - Revenue composition includes: 32.19% from technology transfer, 24.50% from clinical services, 23.56% from preclinical research, 10.28% from commercial production, 4.63% from other services, 3.50% from CDMO, and 1.34% from profit sharing [2] Shareholder and Dividend Information - As of September 30, 2025, the number of shareholders was 10,100, a decrease of 15.05% from the previous period, with an average of 8,242 circulating shares per shareholder, an increase of 18.15% [2] - The company has distributed a total of 184 million CNY in dividends since its A-share listing, with 119 million CNY distributed over the last three years [3] - Notably, the top ten circulating shareholders saw the exit of the Rongtong Health Industry Flexible Allocation Mixed A/B fund from the list [3]

Group 1 - US stock market saw a significant rebound from intraday lows on Friday, with the S&P 500 rising by 0.13% and the Dow Jones increasing by 0.16%, while the Nasdaq Composite fell by 0.22%, marking its worst weekly performance since April [1] - Microsoft experienced its longest losing streak since 2011, with eight consecutive declines, while Tesla dropped over 3.6% following the approval of Elon Musk's $1 trillion compensation plan at the shareholder meeting [2] - Gold fluctuated around $4,000, ending a two-week decline, while crude oil prices briefly rose above $60 but ultimately fell by over 1.7% for the week [3] Group 2 - Bitcoin briefly dipped below $100,000 but later surged over 4.6%, while Ethereum rose by over 4.3%, reclaiming the $3,400 mark [4] - The US government shutdown situation appears to be improving, with Democrats softening their stance, although Republicans have rejected the proposal but acknowledged progress [4] - The EU AI legislation may face pressure to lower its thresholds due to collective pressure from tech giants [5] Group 3 - Google launched its next-generation AI image model, Nano Banana 2, capable of quickly generating 4K images and solving calculus problems [6] - The Chinese government issued a document to accelerate the cultivation of scenarios and promote large-scale applications in the AI field, focusing on key technology breakthroughs and standard construction [7] - A white paper on carbon peak and carbon neutrality in China indicated that the proportion of non-fossil energy consumption is expected to increase from 16.0% in 2020 to 19.8% in 2024 [8] Group 4 - The People's Bank of China increased its gold reserves by 30,000 ounces in October, marking the 12th consecutive month of increases [10] - China's October CPI rose by 0.2% year-on-year, with the core CPI reaching its highest level since March 2024, while the PPI saw its first year-on-year increase of the year [11] Group 5 - Various brokerage strategies are focusing on year-end style rebalancing, with analysts suggesting that sectors like new energy, pharmaceuticals, and food and beverage may show weaker performance as they face profit-taking pressures [12] - Analysts recommend focusing on sectors with independent logic and improving ROE, such as chemicals, non-ferrous metals, and electric new energy, which are at historical low points in profitability and industry prosperity [13] Group 6 - NAND flash memory prices are set to increase significantly, with SanDisk raising contract prices by up to 50%, leading to some manufacturers pausing shipments to reassess pricing [14] - The flu activity in China has risen sharply, with most provinces entering the flu epidemic period, prompting increased production of antiviral medications [16] - The Ministry of Agriculture and Rural Affairs released guidelines for building a smart agriculture standard system, aiming for a comprehensive standard system by 2030 [17] - The smart agriculture market in China is projected to exceed 100 billion yuan in 2024, growing by 11.7% year-on-year, driven by policy support and increased fiscal investment [18] Group 7 - Several companies announced significant transactions, including Suzhou planning to acquire 100% of Dongjin Hangke for 250 million yuan, and Guocheng Mining proposing to pay 3.168 billion yuan for a 60% stake in Guocheng Industrial [19] - Huadian Energy plans to invest 12.043 billion yuan in a wind power project, while Huadian Science and Technology signed a contract for a major offshore wind power project [20] - Fangzheng Technology is investing 1.364 billion yuan to expand its AI production base in Chongqing, addressing capacity bottlenecks in high-end products [21]

Group 1 - Great Wall Technology has terminated the planning of control change matters and will resume trading on November 10, 2025 [2] - The actual controllers of Great Wall Technology were in discussions for a share transfer that could lead to a change in control, but they decided to terminate the planning due to a lack of consensus on core issues [2] Group 2 - Eight One Steel and other companies or shareholders are under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws [3] - Eight One Steel received a notice from the CSRC regarding the investigation, stating that their production and operations remain normal and will not be significantly affected [3] Group 3 - ST Chang Pharmaceutical has been investigated by the CSRC for suspected false reporting of financial data, which could lead to mandatory delisting if found guilty of major violations [4] - Intercontinental Oil and Gas is also under investigation, but the investigation pertains to a shareholder and does not affect the company's operations [4] Group 4 - Tianyi New Materials has agreed to undergo pre-restructuring due to creditor applications, which is expected to improve the chances of successful restructuring [6] - The pre-restructuring process will facilitate early communication with creditors and potential investors [6] Group 5 - Suzhou Planning intends to acquire 100% of Dongjin Aviation Technology through a combination of share issuance and cash payment, with a transaction price of 250 million yuan [7] - This acquisition aims to create a competitive integrated solution in air traffic management, addressing industry pain points and aligning with the development of the low-altitude economy [7] Group 6 - Del Shares plans to acquire 100% of Aizhuo Intelligent Technology through share issuance and will raise matching funds from specific investors [8] - The transaction has been reviewed and approved by the Shenzhen Stock Exchange's merger and reorganization review committee [8] Group 7 - Degute has decided to terminate its major asset restructuring transaction due to difficulties in forming a satisfactory plan within the effective time window [9] - The termination requires further negotiations and internal approval processes from the involved parties [9] Group 8 - Aerospace Hanyu's subsidiary has won a bid for a project worth approximately 246.3 million yuan, which is expected to positively impact the company's performance [11] - Huachang Communications has elected a new chairman, which may influence the company's strategic direction [11] Group 9 - Maolai Optical has received approval from the CSRC to issue convertible bonds to unspecified investors [12] - Tianchen Medical has adjusted its share repurchase plan, increasing the maximum repurchase price and total amount [12] Group 10 - Jiangsu Youxian's controlling shareholder plans to increase its stake in the company by investing between 100 million and 150 million yuan [21] - Jian Ke Institute plans to reduce its holdings by up to 1,466,600 shares [21]

Core Viewpoint - The company, Baicheng Pharmaceutical, has received clinical trial approval from the National Medical Products Administration (NMPA) for its innovative drug BIOS-0625 tablets, aimed at treating ulcerative colitis, a chronic and recurrent inflammatory bowel disease [1] Group 1: Drug Development - BIOS-0625 tablets are a new drug developed by the company targeting ulcerative colitis, which currently has no other drugs with the same indication on the market [1] - The drug is classified as a Class 1 chemical drug and is categorized as an innovative drug that has not been marketed domestically or internationally [1] Group 2: Market Challenges - Ulcerative colitis presents persistent treatment challenges due to its chronic and recurrent nature, characterized by "non-curability and recurrence" [1] - Traditional medications can only provide short-term symptom relief and are limited by three major bottlenecks: low efficacy ceiling, significant adverse reactions, and poor patient tolerance [1] Group 3: Importance of New Therapies - New molecules and therapies are essential for improving patients' quality of life and serve as a critical bridge connecting translational medicine with long-term patient benefits [1]

Core Viewpoint - The company, Baicheng Pharmaceutical, has received clinical trial approval from the National Medical Products Administration for its innovative drug BIOS-0625 tablets, aimed at treating ulcerative colitis, marking a significant step in its drug development pipeline [1] Group 1: Drug Development - BIOS-0625 tablets are a novel drug developed by the company, targeting a new mechanism for the treatment of ulcerative colitis, with no similar indication drugs currently available on the market [1] - The drug is classified as a Class 1 chemical drug, indicating it is an innovative drug that has not been marketed domestically or internationally [1] Group 2: Regulatory Approval - The approval notification for clinical trials signifies a critical milestone in the drug's development process, although it comes with inherent uncertainties regarding the progress and outcomes of the clinical trials [1] - The company faces risks related to the clinical trial timeline and the potential for the product to receive market approval [1]