本公告乃根據上市規則第17.06A、17.06B以及17.06C條作出。於2025年3月31 日，董事會薪酬委員會根據2016期權及激勵計劃的條款向一百八十四名承授人授 出涉及合共38,919股美國存託股份的受限制股份單位。 2016期權及激勵計劃項下的受限制股份單位 於2025年3月31日，董事會薪酬委員會根據2016期權及激勵計劃的條款授予一百 八十四名承授人合共38,919股美國存託股份受限制股份單位。該等受限制股份單 位相當於505,947股股份，約佔本公告之日公司發行股份總數的0.04%。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 BeiGene, Ltd. 百濟神州有限公司 （於開曼群島註冊成立的有限公司） （股份代號：06160） 授出受限制股份單位 每股美國存託股份272.17美元（約每股普通股 162.88港元） 歸屬期： 已授出的受限制股份單位將按下述形式歸屬 予承授人；但部分受限制股份單位可能於控 制權變更及╱或終止事件發生 ...

通函及年度股东大会通告 致股东函件 尊敬的各位股东 ： 我们满怀自豪和乐观，与大家分享百济神州在迈向它的宏伟愿景征程中所取得的非凡 成绩。我们致力于成为全球最具影响力的肿瘤治疗创新公司。为此，我们正重新构想 癌症治疗的无限可能——在创新道路上无所畏惧，在全球范围不断扩大药物可及性， 改变未来几代人的生活。 全球已有超过150万例患者接受了我们药物的治疗——这项里程碑再次激发了我们取得更多成绩的热情。我们在全球六 大洲拥有11,000多名员工，团队万众一心，只为实现一个目标 ：为癌症患者带去希望。我们不断突破科学边界，并致力 于让创新的、改变生活的疗法变得更可负担、更可及，且更具影响力——以期惠及全球各地每一位患者。 我们最近庆祝了公司2024年杰出的业绩创下了历史新高 ；2025年，我们的发展将迈上新台阶。今年上半年，我们计划 将启用新英文名称BeOne Medicines Ltd.，并将注册地迁至瑞士，这两项决定展现出我们不断扩大的全球足迹和差异化 的使命担当。 公司英文名称拟变更为BeOne源自于我们工作的重心 ：凝聚全球力量，消除癌症。新的公司品牌标识主要展现出的设计 亮点包括 ： 新英文名称的启用是公 ...

本公司董事会及全体董事保证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。 重要内容提示： 一、 召开会议的基本情况 | A 股代码：688235 | A 股简称：百济神州 | 公告编号：2025-014 | | --- | --- | --- | | 港股代码：06160 | 港股简称：百济神州 | | | 美股代码：ONC | | | 百济神州有限公司 关于召开 2025 年年度股东大会的通知 （一） 股东大会类型和届次 2025 年年度股东大会 召开日期时间：2025 年 5 月 21 日 21 点 30 分（北京时间） 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2025 年 5 月 21 日 股东大会召开日期：2025年5月21日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 （二） 股东大会召集人：董事会 （三） 投票方式：本次股东大会所采用的表决方式是现场投票、邮寄投票（仅 限非 A 股股东）和网络投票相结合的方式 （四） 现场会议召开的日期、时间和地点 召开地点：Mourant Gov ...

Summary of Key Points from the Conference Call Industry Overview - The global pharmaceutical market is substantial, with an estimated size of approximately $1.5 trillion in 2023, projected to grow at a CAGR of 3%-6% from 2023 to 2027. The U.S. market accounts for nearly half of this, while emerging markets in the Asia-Pacific region are expected to grow at a faster rate. Notably, oncology and weight loss sectors are anticipated to see significant growth, providing important opportunities for pharmaceutical companies [3][5]. Internationalization of Chinese Pharmaceutical Industry - The internationalization process of the Chinese pharmaceutical industry can be categorized into three main parts: product export, technology export, and business model export. Product export can occur through self-sales, distributor agency (CSO model), and collaboration (BD model) [2]. - The internationalization stages include product registration, channel expansion, localization, and brand enhancement. Most Chinese innovative pharmaceutical companies are still in the product registration phase, with a few, like BeiGene and Mindray, advancing to channel expansion and localization [4]. Export Trends and Market Dynamics - China's pharmaceutical export scale reached $102 billion in 2023, with a notable increase in exports to Belt and Road countries, rising from 33% in 2013 to 37% in 2023. Conversely, the export proportion to the U.S. has decreased from 19% in 2010 to 16.7% in 2023 [7]. - The export of active pharmaceutical ingredients (APIs) from China is also on the rise, with an estimated $43 billion in exports in 2024, reflecting a nearly 5% year-on-year growth [3][9]. Company-Specific Highlights BeiGene - BeiGene's performance is strong, with sales of its drug, Zanubrutinib, expected to reach $2.6 billion in 2024, doubling year-on-year. The company anticipates achieving profitability in 2025, supported by a deepening product pipeline in hematological malignancies [3][20]. 3SBio - 3SBio is expected to see steady growth, with revenue and profit exceeding expectations in 2024, achieving over 15% growth. Key products like TPIAO and Mandy are maintaining high growth rates, with TPIAO projected to exceed $7 billion in revenue in 2024, a 20% increase [23][24]. Rongchang Biologics - Rongchang Biologics faces challenges with cash flow and sales but has seen significant growth in sales of its drug, Tislelizumab, which increased by 88% year-on-year. The company is enhancing cash flow through a private placement and expects to reduce losses significantly in the coming year [26][27]. Regulatory and Policy Environment - Recent updates in pharmaceutical policies indicate a shift towards optimizing procurement policies, focusing on quality assessment and regulation. The average price reduction from the tenth batch of generic drug procurement was around 50%-61%, with expectations for further reductions in future batches [14][15]. - The innovation policy landscape is supportive of the development of innovative medicines, with a focus on improving approval processes and market access [16][18]. Investment Recommendations - Recommended stocks for April include BeiGene, 3SBio, and Major Biologics, with BeiGene highlighted for its strong performance and growth potential [19][20]. Conclusion - The Chinese pharmaceutical industry is experiencing significant growth and internationalization, with key players like BeiGene and 3SBio showing promising performance. The evolving regulatory landscape and increasing focus on innovation are expected to drive future growth in the sector.

Core Viewpoint - BeiGene Ltd has announced the discontinuation of its clinical development program for ociperlimab (BGB-A1217), an anti-TIGIT antibody, for lung cancer treatment based on a recommendation from the Independent Data Monitoring Committee following a futility analysis [1][2][3]. Group 1: Clinical Trial Details - The Phase 3 AdvanTIG-302 trial was evaluating the efficacy and safety of ociperlimab in combination with tislelizumab compared to Merck's Keytruda (pembrolizumab) in adults with high PD-L1, locally advanced/recurrent, or untreated metastatic non-small cell lung cancer (NSCLC) [2]. - The overall efficacy and safety data indicated that the trial was unlikely to meet its primary endpoint of overall survival [2][3]. - The study was originally expected to conclude in February 2027 [3]. Group 2: Company Strategy and Future Plans - BeiGene's decision to terminate the trial reflects a strategic evaluation of its clinical programs, focusing resources on the most promising candidates while deprioritizing others [3]. - No new safety signals were observed during the trial, which contributed to the decision to discontinue [3]. Group 3: Market Reaction - Following the announcement, BeiGene's stock (ONC) experienced a decline of 4.2%, trading at $263.04 [4].

Group 1 - The core viewpoint of the articles highlights the financial performance and market position of BeiGene, a global biotechnology company focused on innovative drug development and commercialization [1][2] - As of April 1, BeiGene's stock closed at 249.51 yuan, reflecting a 4.47% increase, with a market capitalization of 349.402 billion yuan and a price-to-book ratio of 14.45 [1] - The latest quarterly report for Q3 2024 shows BeiGene achieved a revenue of 19.136 billion yuan, representing a year-on-year increase of 48.63%, while the net profit was -3.686694 million yuan, a year-on-year decrease of 4.94%, with a gross margin of 83.94% [1] Group 2 - The shareholder structure indicates that as of September 30, 2024, BeiGene had 33,458 shareholders, a decrease of 4,146 from the previous count, with an average holding value of 352,800 yuan and an average shareholding of 27,600 shares per shareholder [1] - In comparison to industry peers, BeiGene's price-to-earnings ratio (TTM) is -70.19, while the industry average is 42.46, indicating a significant divergence in valuation metrics [2] - The industry median price-to-earnings ratio is 37.51, further illustrating the relative valuation challenges faced by BeiGene compared to its competitors [2]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 百濟神州有限公司 (於開曼群島註冊成立的有限公司) 呈交日期： 2025年4月1日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 不適用 | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 06160 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | 事件 | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份 ...

呈交日期： 2025年3月31日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 06160 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | 每股發行/出售價 (註4) | | 已發行股份總數 | ...

Summary of Key Points from the Conference Call Industry Overview - The conference call primarily discusses the **pharmaceutical industry** and the **innovative drug sector** in China for the year 2025, highlighting various trends, opportunities, and challenges within the sector [2][4][26]. Core Insights and Arguments - **Policy Support for Innovative Drugs**: The Chinese government has approved a comprehensive plan to support innovative drug development, which includes price management, medical insurance payments, and diversified payment systems. This is expected to accelerate drug approval processes and enhance market opportunities for innovative drugs [2][3]. - **High Growth Potential**: The innovative drug sector is anticipated to maintain a high growth trajectory due to favorable policies and ongoing medical insurance negotiations. Companies like BeiGene and Hengrui Medicine are expected to benefit significantly from these developments [2][4]. - **AI in Healthcare**: The rapid development of AI in healthcare is highlighted, with companies that possess high-quality data expected to lead in AI applications for diagnostics and health management [2][5]. - **Medical Device Sector Recovery**: The medical device sector is showing signs of marginal recovery, particularly in the ophthalmology segment, driven by favorable fertility policies and increased demand for refractive surgeries [2][6]. - **Global Competitiveness of Chinese Firms**: Chinese innovative drug companies are increasingly demonstrating global competitiveness, with a significant share of global upfront payments and R&D milestones [2][8]. - **Transformation of Traditional Pharmaceutical Companies**: Traditional pharmaceutical companies are accelerating their transformation, with a focus on differentiated innovative products. Companies like East China Pharmaceutical and China National Pharmaceutical Group are noted for their promising prospects [2][9]. - **CXO Sector Recovery**: The CXO sector is gradually recovering, with leading companies like WuXi AppTec showing strong fundamentals and rapid order growth [2][27]. - **Technological Innovation in Medical Devices**: The medical device sector is characterized by strong technological innovation, with companies like United Imaging Healthcare expected to achieve significant growth in 2025 [2][38]. Notable Companies and Investment Opportunities - **Recommended Companies**: Key companies to watch include BeiGene, Hengrui Medicine, and Innovent Biologics in the innovative drug space, and United Imaging Healthcare in the medical device sector. These companies are recognized for their differentiated competitive advantages and potential for international expansion [2][7][12]. - **BeiGene's Profitability**: BeiGene is projected to achieve profitability in 2025, with its leading product, Zanubrutinib, expected to continue strong sales growth in the U.S. market [10][11]. - **Hengrui Medicine's Internationalization**: Hengrui is making significant strides in international markets, with a robust pipeline and expected high growth rates [12][15]. - **Innovent Biologics' Breakthroughs**: Innovent is noted for its advancements in tumor immunotherapy, with promising data expected from its overseas trials [16][19]. - **East China Pharmaceutical's Growth**: East China Pharmaceutical is positioned for growth with a diverse pipeline and strong market presence [24][25]. Additional Important Insights - **Market Trends**: The overall pharmaceutical market is expected to see a recovery in 2025, with innovative drugs leading the way due to supportive policies and market dynamics [4][26]. - **Investment Sentiment**: There is a positive sentiment towards the pharmaceutical sector, with expectations of continued growth driven by innovation and policy support [2][26]. - **Challenges and Risks**: While the outlook is positive, potential risks include regulatory changes and market competition, which could impact the performance of certain companies [2][3][4]. This summary encapsulates the key points discussed in the conference call, providing a comprehensive overview of the pharmaceutical industry's current landscape and future prospects.

Summary of the Conference Call on the Pharmaceutical Industry and Policy Trends Industry Overview - The conference call primarily discusses the pharmaceutical industry in China, focusing on recent policy changes and their implications for various companies and market segments [2][3][27]. Key Points and Arguments Policy Changes - Significant changes in the pharmaceutical sector's policies have been noted, particularly regarding the optimization of centralized procurement (集采) and the rapid implementation of commercial health insurance [2][3]. - The government emphasized "optimizing centralized procurement" and "improving the drug pricing mechanism" during the recent National People's Congress, indicating a shift towards a more market-oriented competitive mechanism [2][3]. Impact on Market Valuation - The adjustments in procurement policies are expected to alleviate previous concerns regarding industry valuation suppression, allowing more differentiated and branded products to enter the market [3][4]. - The introduction of a diversified payment system, particularly through commercial health insurance, is anticipated to exceed a market scale of over 1 trillion yuan, providing new payment opportunities for innovative drugs [3][7]. Opportunities for Innovative Drug Companies - Companies like Heng Rui Medicine, BeiGene, and Innovent Biologics are expected to achieve their first or continued profitability, potentially launching significant products [3][9]. - The Chinese biopharmaceutical industry is gaining global recognition, with increasing external licensing collaborations [9]. Emerging Market Segments - The Antibody-Drug Conjugates (ADC) sector, represented by companies like Kelun-Biotech, shows promising performance, while new-generation O-type biologics and T-cell engagers (TCE) are also highlighted for their potential [3][13]. Changes in Health Insurance Policies - The shift in health insurance policies from cost-saving to health prioritization is noted, with a focus on quality regulation and the establishment of drug traceability mechanisms [3][27]. - By the end of 2026, all Diagnosis-Related Group (DRG) systems will be fully implemented, leading to stricter internal cost control in hospitals [5]. Financial Outlook for the Pharmaceutical Industry - The pharmaceutical industry is expected to see a reversal in revenue, profit, and cash flow due to factors such as increased payments from commercial insurance and optimized procurement policies [19][30]. - The overall financial indicators for the industry are projected to improve, driven by both traditional drug revenues and medical devices, particularly high-value consumables [19][30]. Development of Medical Devices - The medical device sector is characterized by low penetration rates in high-value consumables, indicating significant room for growth [17][18]. - Domestic companies like Mindray are gradually rising through technological advancements, despite the market being dominated by international giants [18][21]. Investment Opportunities - The conference highlights several innovative drug companies to watch in 2025, including Heng Rui Medicine, BeiGene, and Innovent Biologics, which are expected to release important clinical data and achieve significant market milestones [11][30]. - The potential for mergers and acquisitions in the medical device sector is noted, with active consolidation expected to attract investor interest [25]. Conclusion - The pharmaceutical industry in China is poised for significant growth and transformation due to favorable policy changes, emerging market opportunities, and the increasing recognition of domestic companies on a global scale [27][30].