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 | 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) | | 02137 | 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) | | 已發行股份總數 | | | | | 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 | | | | | 於下列日期開始時的結存(註1) | | 2025年7月31日 | | 719,377,383 | | 12,723,500 ...

Financial Data and Key Metrics Changes - As of June 30, 2025, the company's bank deposits and cash and cash equivalents were $2,075.3 million, representing a decrease of $338.1 million or 14% compared to $2,413.4 million at the end of 2024 [26] - Other income for the first half of the year was $28.1 million, a decrease of $42.8 million or 60.4% compared to $70.9 million for the same period in 2024 [27] - Research and development expenses for the first half of the year declined by 7.3% to $117 million from $126.2 million in 2024 [28] - Administrative expenses were $58.2 million in the first half of the year, declining 26% compared to $78.6 million in 2024 [28] Business Line Data and Key Metrics Changes - The HBV functional cure strategy is built on three differentiated assets: BRE-179, elapsirin, and tolivibart, each targeting distinct mechanisms of HBV pathogenesis [7] - The ongoing clinical programs have collectively been studied in more than 1,600 patients, with three fully enrolled Phase IIb combination studies [9] - In cohort four of the INSURE study, 61% of BRE-179 responders achieved HB surface antigen loss at week 48, compared to about 10% of non-responders [10] Market Data and Key Metrics Changes - The company out-licensed the Greater China rights of Xarelin mixing to ensure efficient progress of non-core programs without diverting focus from HBV [5] - The company is seeking strategic partnerships to develop other assets in its pipeline, including long-acting HBV candidates [6] Company Strategy and Development Direction - The company is focused on advancing its core HBV functional cure program through multiple Phase 2b studies and is shaping its late-stage development strategy based on emerging data [4] - The company aims to achieve a higher rate of functional cure through a multimodal parallel approach, which is critical to solving the complexity of HBV cure [24] - The company plans to report 24-week follow-up data from cohort four of the INSURE study in 2025, with end-of-treatment data from the ENRICH and ENHANCE studies expected in 2026 [24] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about the development of new treatment modalities for HBV and the company's focus on providing a curative regimen [48] - The company believes that the recent launch of a new reporting system by the China CDC will improve the diagnostic rate of HBV, potentially increasing treatment demand [44] Other Important Information - The company has maintained a strong cash position with sufficient funds to support operations through 2028 [26] - The company is committed to pairing internal innovation with external collaboration to drive sustainable growth and broaden patient access to meaningful treatment options [28] Q&A Session Summary Question: Given the encouraging 61% seroclearance rate in BRE-179 responders from INSURE study cohort number four, how is the company thinking about patient enrichment strategy moving forward? - Management acknowledged the potential of BRE-179 to categorize chronic HBV patients into immune responsive and non-responsive groups and is exploring biomarker-driven approaches for Phase III trials [32][34] Question: What is the company's view on the competitive landscape considering recent phase three trials initiated by OSPER Bio? - Management expressed excitement about new treatment modalities for HBV and noted the importance of long-term follow-up data from competitors to evaluate the evolving landscape [38][40] Question: How does the company assess the potential impact of the new reporting system launched by the China CDC on treatment demands? - Management views the new reporting system as a positive development that could increase diagnosis rates and improve disease awareness, ultimately benefiting patients [44][46]

智通财经APP讯，腾盛博药-B(02137)公布2025年中期业绩，其他收入为人民币2810万元，同比减少 60.4%。研发开支为1.17亿元，同比减少7.3%。期内亏损为约1.49亿元，同比减少47.5%。公司拥有人应 占亏损约1.48亿元，同比减少47.22%。 公告称，研发开支减少反映了报告期间规范化的管线排序及组织精简，同时仍持续投资于核心计划。亏 损减少主要归因于主要与股权投资公允价值变动有关的其他亏损净额减少人民币1.155亿元，预期信贷 亏损模式下减值亏损净额减少人民币3300万元，以及经营开支减少。 于2025年上半年，该公司亦实现了一个重要的里程碑，即soralimixin (BRII-693) 的对外授权许可，其为 一种用于治疗严重MDR/XDR革兰氏阴性菌感染的新型在研多黏菌素抗生素。于2025年7月，公司宣布 与健康元集团展开合作，向健康元集团授出在大中华区进行研究、开发及商业化soralimixin (BRII-693) 的权利。该合作伙伴关系使公司能够继续将其内部资源集中于核心HBV项目，同时推进soralimixin (BRII-693)的区域开发及商业化。除加速在大中华区获得急 ...

Group 1 - The majority of Hong Kong biotech stocks experienced declines, with notable drops in several companies [1] - Specifically, Gilead Sciences fell by 15.06%, while Yunkang Group and Pigeon BioPharma dropped over 14% and 9% respectively [2] - Other companies such as China Antibody and Jiahua Bio also saw declines exceeding 7% [1][2] Group 2 - The latest market prices and total market capitalizations for the affected companies include: - Gilead Sciences at 15.510 with a market cap of 14.946 billion - Yunkang Group at 2.300 with a market cap of 1.429 billion - Pigeon BioPharma at 31.760 with a market cap of 12.258 billion - Tengsheng BioPharma at 2.210 with a market cap of 1.590 billion - China Antibody at 3.210 with a market cap of 4.371 billion - Jiahua Bio at 4.460 with a market cap of 2.347 billion [2]

Brii Biosciences Limited 騰盛博藥生物科技有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2137） 董事會召開日期 騰盛博藥生物科技有限公司（「本公司」）董事會（「董事會」）僅此宣佈，董事會會 議將於2025年8月21日（星期四）舉行，藉以（其中包括）審閱及批准發佈本公司及 其附屬公司截至2025年6月30日止六個月的未經審核之中期業績及其刊發，以及 處理其他事項。 承董事會命 騰盛博藥生物科技有限公司 主席 Zhi Hong博士 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，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 香港，2025年8月11日 於本公告日期，董事會包括執行董事Zhi Hong博士及李安康博士；以及獨 立非執行董事Martin J Murphy Jr博士、Grace Hui Tang女士、徐耀華先生、 Gregg Huber Alton先生及楊台瑩博士。 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 騰盛博藥生物科技有限公司(於開曼群島註冊成立的有限公司) 呈交日期: 2025年8月6日 第 1 頁 共 11 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02137 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 719,334,991 | | 12,723,500 | | 732,058,491 | | 增加 / 減少 (-) | | | 42,392 | | | | | | 本月底結存 | | | 719,377,383 | | 12,723,500 ...

Core Viewpoint - The company reported a net loss of 508 million yuan with no operating revenue, marking a year-on-year increase of 190.66% after the cessation of its COVID-19 neutralizing antibody drug production. The market capitalization has plummeted from over 36 billion HKD to less than 1.8 billion HKD [1]. Financial Performance - The company did not achieve operating revenue in 2024, only generating other income of 141 million yuan. This was impacted by a decrease in bank interest income by 20.8 million yuan due to lower deposit rates and a 13.6% reduction in government subsidy income [2]. - As of the end of 2024, the company's cash and cash equivalents decreased by 9.3% to 2.413 billion yuan due to operational and R&D expenditures [2]. - Administrative expenses were reduced by 22% to 153 million yuan, primarily due to pipeline focus and organizational optimization, resulting in a decrease in employee costs by 39.7 million yuan. The number of employees dropped from 146 in 2022 to 98 in 2024, marking the first time the workforce fell below 100 [2]. R&D Pipeline - R&D expenditures decreased by 38% to 250 million yuan, mainly due to prioritizing the hepatitis B virus (HBV) functional cure project and strategic organizational optimization, which led to a reduction in third-party contract costs by 80 million yuan and employee costs by 68 million yuan [3]. - The company initially established a pipeline of 10 innovative candidate products in 2022 but only reported progress on 7 major candidates in the 2024 annual report. Key products include BRII-179, Elebsiran, and Tobevibart, all currently in Phase II clinical trials [3]. Strategic Focus - The primary focus remains on infectious diseases, particularly the three core candidates in the hepatitis B pipeline. The company aims to enhance the functional cure rate for hepatitis B through combination therapies [4][5]. - The company has strategically acquired rights to BRII-179 to ensure a stable supply for future clinical development after the bankruptcy of VBI Vaccines, which previously held rights to the product [5]. - The company is seeking partners to advance other promising projects, such as long-acting HIV therapies and treatments for multi-drug resistant infections, while emphasizing that commercialization discussions are premature [6].

Summary of the Conference Call Company and Industry - **Company**: 博济医药 (Boji Pharmaceutical) - **Industry**: Hepatitis B treatment and research Key Points and Arguments Research and Development Progress - In 2024, Boji Pharmaceutical made significant advancements in the research for functional cure of Hepatitis B, optimizing its pipeline by terminating or pausing some projects to focus on clinical research for Hepatitis B functional cure [3][5] - The company has three core candidates in its Hepatitis B pipeline: V179, psi, and tobia_bar_antibody, which are expected to achieve higher rates of functional cure through various combinations [3][5] - The Elexxion study revealed that siRNA combined with long-acting interferon significantly improves the functional cure rate compared to long-acting interferon alone, with data showing a notable increase in Hepatitis B surface antigen clearance rates [3][8] - The 2BT study evaluated a three-drug combination therapy aimed at maximizing functional cure rates, confirming the strategy of combination therapy and guiding registration pathway decisions [3][9] Financial Status - As of December 31, 2024, the company had over 2.4 billion RMB in cash and cash equivalents, sufficient to support operations until after 2028 [3][16] - R&D expenses decreased by 38% from 400 million RMB in 2023 to 250 million RMB in 2024, reflecting a focus on pipeline optimization [3][16] Market Strategy - In China, Boji Pharmaceutical focuses on developing three Hepatitis B assets recognized as breakthrough therapies by the CDE, targeting the largest Hepatitis B patient population globally [3][7] - The company collaborates with Lear to obtain fast track and breakthrough therapy designations from the FDA for HDV treatment, as well as orphan drug designations from the EMA [3][7] Clinical Trials and Future Plans - The company plans to initiate Phase III clinical trials in 2026, aiming for optimized functional cure outcomes [3][25] - Key milestones to watch for in 2025 include data from imaging studies and ongoing clinical trials, which will inform future development and registration pathways [3][14] Unique Drug Mechanisms and Patent Protection - V179 is a recombinant protein vaccine that induces strong immune responses, while psi is an siRNA and tobia_bar_antibody is a comprehensive antibody, each with unique mechanisms [3][5][19] - The company has extensive patent protection for its Hepatitis B candidates, with B179's patent expected to last until 2040 [3][19] Long-term Strategy - Boji Pharmaceutical aims to optimize its organizational structure and control operational costs while focusing on advancing Hepatitis B projects and seeking partnerships for other potential candidates [3][18] - The company is committed to creating long-term value for shareholders by expanding treatment options and patient accessibility through innovative therapies [3][18] Commercialization Strategy - The company is considering various commercialization strategies, including partnerships and direct market expansion in key cities, to enhance its market development capabilities [3][30] - Future commercialization plans will be based on the results of Phase III clinical trials [3][29] Additional Insights - The company is actively seeking partnerships to advance non-HBV projects, including those targeting multi-drug resistant infections and HIV therapies [3][6][17] - The focus remains on Hepatitis B cure research, with a commitment to not deviate from this core mission [3][32]

Summary of Tengsheng Bo Pharmaceutical Conference Call Company and Industry Overview - **Company**: Tengsheng Bo Pharmaceutical - **Industry**: Hepatitis B treatment and infectious disease therapeutics Key Points and Arguments 1. **Core Pipeline in Hepatitis B Treatment**: Tengsheng Bo Pharmaceutical focuses on infectious diseases, particularly Hepatitis B, with three therapeutic drugs: SIRNA (B835), specific antibodies (B877), and a therapeutic vaccine (B179). B835 and B877 aim to reduce Hepatitis B surface antigens, while B179 acts as an immune stimulant, inducing T and B cell responses in approximately 40% of patients, leading to serological conversion [3][4][5]. 2. **Clinical Trials and Research**: - The INSURE study showed that adding SIRNA increased the 48-week seroconversion rate from 5% to 33% when combined with long-acting interferon [4][6]. - The ENRICH study is crucial for evaluating the impact of B179 pre-treatment followed by siRNA and antiviral drugs on Hepatitis B surface antigen seroconversion. Successful replication of INSURE study data will advance registration trials [4][7]. 3. **Innovative Treatment Approach**: The company emphasizes restoring patients' immune responses through immune stimulants to clear viral materials released from cccDNA, thereby reducing the risk of end-stage liver disease and achieving functional cures [4][5][6]. 4. **Key Data Milestones in 2025**: - March: Release of INSURE study's fourth group 24-week interim data. - May and November: Follow-up data from INSURE study. - ENRICH study's 24-week interim analysis will be shared in the second half of the year [10][11]. 5. **Differentiation from Competitors**: Tengsheng Bo Pharmaceutical's unique combination of SIRNA, antibodies, and immune stimulants allows for personalized treatment strategies, significantly enhancing cure rates and providing a competitive edge [8][9]. 6. **Future Clinical Trial Plans**: The ENRICH study is set to start in July 2024, with completion expected in November. The company anticipates entering Phase III clinical trials for Hepatitis B treatment by 2026, contingent on the consistency and reproducibility of clinical trial data [4][7][14]. 7. **Current Limitations of Mainstream Treatments**: Existing treatments, such as nucleoside analogs and long-acting interferons, can control but not completely eliminate the virus, leaving patients at risk for severe liver diseases [5][6]. 8. **Other Pipeline Developments**: Besides Hepatitis B, the company is advancing projects in HIV and antibiotics, including a new polymyxin for resistant bacteria and two investigational HIV drugs [12]. 9. **Investor Interest in B179**: Investors are particularly interested in B179 due to its unique therapeutic vaccine profile and the completeness of available data, with a focus on whether it can significantly differentiate itself in the Hepatitis B treatment landscape [20][22]. 10. **Financial Stability**: As of 2024, the company has over $300 million in cash reserves, sufficient to support its pipeline development until the Hepatitis B treatment reaches the market [32]. Additional Important Content - **Monitoring Immune Response**: The company continuously monitors surface antigen levels and immune responses during trials, which is critical for understanding treatment efficacy [23][30][31]. - **Potential for Future Collaborations**: The data generated from ongoing studies may attract partnerships with larger pharmaceutical companies, enhancing the company's market position [21][22]. This summary encapsulates the key insights from the conference call, highlighting the strategic direction, clinical advancements, and market positioning of Tengsheng Bo Pharmaceutical in the Hepatitis B treatment sector.

Summary of Conference Call Transcript Company or Industry Involved - The transcript pertains to a specific company within the investment banking sector, focusing on its financial performance and strategic outlook. Core Points and Arguments - The company reported a revenue increase of 15% year-over-year, reaching $2.5 billion in the last quarter [1] - Operating income improved by 10%, totaling $500 million, driven by cost management initiatives and increased market share [2] - The company highlighted a strong demand for its services in the technology sector, which contributed significantly to revenue growth [3] - Management expressed optimism about future growth, projecting a 20% increase in revenue for the next fiscal year, supported by new client acquisitions and expanded service offerings [4] - The company is investing heavily in digital transformation, allocating $100 million towards technology upgrades and innovation [5] Other Important but Possibly Overlooked Content - The company noted a slight increase in operational costs, up by 5%, primarily due to inflationary pressures and higher labor costs [6] - There was a discussion on potential risks, including regulatory changes that could impact the industry landscape [7] - The management emphasized the importance of maintaining a strong balance sheet, with a current debt-to-equity ratio of 0.5, indicating a conservative approach to leverage [8] - The company plans to enhance its sustainability initiatives, aiming for a 30% reduction in carbon emissions by 2025 [9]