和黄医药 以上内容基于公开资料整理，不构成投资建议。 分时图 日K线 周K线 月K线 23.26 0.08 0.35% 1.38% 0.91% 0.47% 0.00% 0.47% 0.91% 1.38% 22.86 22.97 23.07 23.18 23.29 23.39 23.50 09:30 10:30 12:00/13:00 14:00 16:10 0 5万 9万 14万 经济观察网和黄医药近期在业务进展与全球合规方面取得多项里程碑。公司计划于2026年3月5日举行董 事会会议审议2025年年度业绩；新型脾酪氨酸激酶抑制剂索乐匹尼布用于治疗温抗体型自身免疫性溶血 性贫血的III期研究已达到主要终点，计划在2026年上半年向中国国家药监局提交新药上市申请；抗体靶 向偶联药物候选药物HMPL-A580和HMPL-A830预计2026年启动1期临床研究；此外，凡瑞格拉替尼和 赛沃替尼的新药申请已获受理并纳入优先审评。另据浦东发布消息，和黄医药上海旗舰生产基地近日 以"零483缺陷项"通过美国食品药品管理局现场检查，进一步夯实全球供应链能力。 近7天(2026年2月7日至13日)和黄医药港股(00013)股价 ...

经济观察网 和黄医药（00013）2026年将有多项关键事件，包括年度业绩发布及重要新药研发进展。 产品研发进展 根据机构研报，公司抗体靶向偶联药物平台中的候选药物HMPL-A580和HMPL-A830预计将在2026年启 动1期临床研究。此外，公司近期管线进展还包括凡瑞格拉替尼和赛沃替尼的新药申请获受理并纳入优 先审评。 业绩经营情况 以上内容基于公开资料整理，不构成投资建议。 公司计划于2026年3月5日举行董事会会议，审议并批准截至2025年12月31日止年度的年度业绩。 业务进展情况 新型脾酪氨酸激酶抑制剂索乐匹尼布用于治疗温抗体型自身免疫性溶血性贫血的III期研究已达到主要终 点，公司计划在2026年上半年向中国国家药监局提交新药上市申请。 ...

Core Viewpoint - The article suggests that several human capital management (HCM) technology stocks are currently in oversold territory and may present buying opportunities following a strong U.S. jobs report in January, where 130,000 jobs were added, exceeding expectations of 68,000-75,000, and the unemployment rate decreased to 4.3% from an expected 4.4% [1]. Group 1: Workday (WDAY) - Workday is identified as the largest global HCM applications vendor, with its stock down nearly 50% from its 52-week high of $281 per share [4][5]. - Despite slower annual revenue growth, a 12% increase is projected for FY26 and FY27, with revenue approaching $10 billion [5]. - Annual earnings are expected to rise by 24% this year and another 16% in FY27 to $10.57 per share, with the stock trading at its lowest forward earnings multiple of 14X since becoming profitable [6]. Group 2: Paylocity (PCTY) - Paylocity, which provides cloud-based payroll and HCM software solutions, has seen its stock price cut in half from a one-year high of $218 per share [9]. - The stock is considered affordable, with single-digit growth appealing at a 15X forward earnings multiple, and it recently reported Q2 EPS of $1.85, exceeding expectations of $1.57 and up 21% from $1.52 a year ago [10]. Group 3: Automatic Data Processing (ADP) - ADP is recognized as a diverse provider of HCM technology solutions, with its stock down more than 30% from its 52-week high of $329 per share [12]. - The stock is trading at a reasonable 20X forward earnings multiple, with projected EPS growth of over 9% for FY26 and FY27 [13]. - ADP is forecasted to have 5% annual revenue growth, with strong financial figures, cash flow, and recurring revenue, and is noted as a Dividend King with a current annual yield of 3.02% [14][15].

Investment Rating - The report provides an "Outperform" rating for multiple companies in the healthcare sector, including BeiGene, JD Health, WuXi Biologics, and others, indicating a positive outlook for these stocks [1]. Core Insights - The macro and industry environment is improving due to the resolution of policy uncertainties, the release of significant clinical data, and a resurgence in global M&A activity, leading to a notable increase in investor sentiment towards innovative drugs for 2026 [4][11]. - In oncology, the PD-1/VEGF dual antibody approach is transitioning from "mechanism validation" to "clinical and industrial resonance," with multiple global Phase III trials underway, expected to catalyze approvals and data releases within the year [5][17]. - The metabolic sector is seeing growth in the cash-pay market for GLP-1 drugs, driven by limited insurance coverage and high out-of-pocket costs, prompting companies to enhance accessibility through direct sales and pricing adjustments [6][25]. - In the autoimmune space, there is a growing concentration risk among major products from multinational corporations (MNCs), with new antibody platforms expected to yield significant data in 2026, potentially leading to new business development opportunities [7]. - The central nervous system (CNS) investment focus remains on advancing Aβ monoclonal antibody treatments, with key data expected to open up early intervention market opportunities [9]. Summary by Sections Oncology - The PD-1/VEGF dual antibody's clinical and industrial certainty is strengthening, with major companies conducting multiple global Phase III trials across high-value indications [17]. - The Pan-RAS precision therapy is entering a realization phase, with key Phase III data expected in 2026 for pancreatic cancer and NSCLC [22]. Metabolic - The cash-pay market for GLP-1 drugs is expanding due to limited insurance coverage, with companies like Eli Lilly and Novo Nordisk adopting different direct-to-consumer strategies to enhance accessibility [25][26]. - Small nucleic acid therapies are expected to upgrade treatment paradigms, showing competitive data in weight loss and safety profiles when combined with GLP-1 [30]. Autoimmune - MNCs are increasingly reliant on a few blockbuster products, with structural opportunities arising from new antibody platforms expected to report data in 2026 [7]. - The trend towards oral formulations in autoimmune diseases is gaining traction, offering advantages in adherence and competitive differentiation [7]. CNS - The focus in CNS remains on Aβ monoclonal antibody treatments, with advancements expected to shift treatment towards earlier intervention populations [9]. - New delivery methods, such as systemic administration of small nucleic acids, are being explored as complementary approaches [9].

Group 1 - The company, Hutchison China MediTech Limited (00013.HK), announced that it will hold a board meeting on March 5, 2026, to approve its annual results for the year ending December 31, 2025 [1] - The annual results will be published on the same day at 7 PM Hong Kong time [1]

Core Viewpoint - HUTCHMED will announce its final results for the year ended December 31, 2025, on March 5, 2026, with subsequent webcasts for analysts and investors to discuss the results and conduct Q&A sessions [1][2]. Company Overview - HUTCHMED is an innovative, commercial-stage biopharmaceutical company focused on the discovery, global development, and commercialization of targeted therapies and immunotherapies for cancer and immunological diseases [4]. - The company has successfully marketed its first three medicines in China, with the first also receiving approval in the US, Europe, and Japan [4]. Event Details - The English webcast for discussing the final results will take place on March 5, 2026, at 8:00 am EST, followed by a Chinese (Putonghua) webcast on March 6, 2026, at 8:30 am HKT [2]. - Both webcasts will be available live on the company's website, with a replay accessible shortly after the events [3].

HUTCHMED (China) Limited 和黃醫藥（中國）有限公司 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，概不對 因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。 （於開曼群島註冊成立的有限公司） （股份代號：13） 董事會會議召開日期及 2025 年全年業績公告 和黃醫藥（中國）有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司將於 2026 年 3 月 5 日（星期四） 舉行董事會會議，以（其中包括）批准本公司及其附屬公司截至 2025 年 12 月 31 日止年度之年度業績，並將其於同 日下午 7 時正（香港時間）發佈。 於業績獲批准及發佈後，本公司之管理層將於同日下午 9 時正（香港時間）舉行設有問答環節之英語網上直播簡報 會。本公司亦將於 2026 年 3 月 6 日（星期五）上午 8 時半（香港時間）舉行中文（普通話）網上直播。兩場實時網 上直播均可於本公司網站 www.hutch-med.com/event/ 收看。簡報文稿將於網上直播開始前上載至本公司網站以供 下載。 ...

I. 法定/註冊股本變動 | 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) | 00013 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,500,000,000 | USD | | 0.1 | USD | | 150,000,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 1,500,000,000 | USD | | 0.1 | USD | | 150,000,000 | 本月底法定/註冊股本總額： USD 150,000,000 第 1 頁 共 10 頁 v 1.2.0 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: 2026年1月31日 狀態: 新提交 致：香港交 ...

行 业 研 医药生物 2026 年 02 月 01 日 究 靶向 PAM 通路潜在百亿美元市场：和黄医药及 Celcuity 投资要点： 行 业 定 期 报 告 行情回顾：本周（2026 年 1 月 26 日- 2026 年 1 月 30 日）中信医药指数下 跌 3.3%，跑输沪深 300 指数 3.4pct，在中信一级行业分类中排名第 22 位；2026 年初至今中信医药生物板块指数上涨 3.0%，跑赢沪深 300 指数 1.3 pct，在中 信行业分类中排名第 18 位。本周涨幅前五的个股为：凯普生物（+ 26.5%）、 华兰疫苗（+ 12.8%）、德展健康（+ 8.8%）、万泽股份（+ 7.9%）、华康医疗 （+ 6.9%）。 靶向 PAM 通路市场空间大，关注 Celcuity、和黄医药：PAM 通路突 变发生在 38%肿瘤患者中，其中覆盖乳腺癌和前列腺癌两大癌种。靶向 PAM 潜在收入与 CDK4/6 和 AR 疗法相当（80-100 亿美金），由于过往开 发药物的疗效有限，PAM 抑制剂的药物收入在其他靶向治疗类别中占比很 小。Celcuity 开发的 Gedatolisib 是唯一在 PIK3C ...

Investment Rating - The report maintains a strong rating for the pharmaceutical sector, indicating it is expected to outperform the market [6]. Core Insights - The targeted PAM pathway represents a potential market of approximately $10 billion, with significant implications for breast and prostate cancer treatments [4][16]. - Celcuity's Gedatolisib is highlighted as a promising PAM inhibitor, showing comparable efficacy to existing therapies and is under FDA priority review with a PDUFA date set for July 17, 2026 [4][37]. - The report emphasizes the importance of innovation and international expansion in the pharmaceutical industry, suggesting that companies focusing on these areas will likely thrive [4]. Summary by Sections Targeted PAM Pathway - The PAM pathway is identified as one of the most underdeveloped targets in solid tumors, with mutations occurring in 38% of cancer patients [4][16]. - Gedatolisib is noted for its effectiveness across various PI3K subtypes and its potential to establish new treatment standards in HR+/HER2- advanced breast cancer [25][37]. - HMPL-A251, developed by Hutchison China MediTech, is a HER2-targeted PAM inhibitor that has shown strong anti-tumor activity in both HER2-positive and low-expressing tumors [41][50]. Market Review and Trends - The report reviews the performance of the pharmaceutical sector from January 26 to January 30, 2026, noting a decline of 3.3% in the CITIC Pharmaceutical Index, which underperformed the CSI 300 Index by 3.4 percentage points [3][60]. - The report highlights the best-performing stocks during this period, including Cap Bio (+26.5%) and Hualan Biological (+12.8%) [3][74]. - The overall valuation of the pharmaceutical sector as of January 30, 2026, is reported at 29.09, reflecting a slight decrease of 0.87% [69].