该行认为，艾伯维作为一间跨国制药公司，应能促进RC148在研发和商业化方面的全球扩展，并对 RC148的差异化发展策略持正面态度。该行相信，首付款支付将扭转荣昌生物的净负债状况，并预计未 来多项新药获批将使公司自2026年起持续达到盈亏平衡。该行将荣昌生物的评级由"中性"上调至"买 入"，目标价由63.8港元一举升至120港元。 责任编辑：卢昱君 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 客户端 荣昌生物（09995）盘中涨近4%，截至发稿，股价上涨1.90%，现报91.35港元，成交额2.26亿港元。 荣昌生物（09995）盘中涨近4%，截至发稿，股价上涨1.90%，现报91.35港元，成交额2.26亿港元。 瑞银发布研报称，对荣昌生物与艾伯维集团的合作持积极看法，该合作授予RC148（PD-1/VEGF）海外 权利，并获得6.5亿美元的首付款、最高可达49.5亿美元的里程碑付款及在大中华区以外地区净销售额的 两位数分级特许权使用费。 瑞银发布研报称，对荣昌生物与艾伯维集团的合作持积极看法，该合作授予RC148（PD-1/VE ...

Core Viewpoint - The collaboration between Rongchang Biologics and AbbVie is viewed positively, with significant financial implications for Rongchang Biologics, including an upfront payment of $650 million and potential milestone payments totaling up to $4.95 billion [1] Financial Implications - Rongchang Biologics' stock rose nearly 4%, currently trading at HKD 92.3, with a trading volume of HKD 206 million [1] - The collaboration includes a two-digit tiered royalty on net sales outside Greater China, enhancing revenue potential [1] Strategic Outlook - UBS believes AbbVie, as a multinational pharmaceutical company, will facilitate the global expansion of RC148 in both research and commercialization [1] - The upfront payment is expected to improve Rongchang Biologics' net debt situation, with projections indicating the company may achieve breakeven by 2026 due to multiple new drug approvals [1] Rating Adjustment - UBS upgraded Rongchang Biologics' rating from "Neutral" to "Buy," raising the target price from HKD 63.8 to HKD 120 [1]

Core Viewpoint - The collaboration between Rongchang Biologics and AbbVie is viewed positively, with significant financial implications for Rongchang Biologics, including a $650 million upfront payment and potential milestone payments totaling up to $4.95 billion [1] Group 1: Financial Implications - Rongchang Biologics' stock rose nearly 4%, currently trading at HKD 92.3, with a trading volume of HKD 206 million [1] - The collaboration includes a two-digit tiered royalty on net sales outside Greater China, enhancing revenue potential [1] - UBS upgraded Rongchang Biologics' rating from "Neutral" to "Buy," raising the target price from HKD 63.8 to HKD 120 [1] Group 2: Strategic Outlook - The partnership is expected to facilitate global expansion of RC148 in research and commercialization, leveraging AbbVie's multinational capabilities [1] - UBS holds a positive view on the differentiated development strategy for RC148, anticipating that the upfront payment will improve Rongchang Biologics' net debt situation [1] - The company is projected to achieve breakeven by 2026, supported by multiple new drug approvals [1]

Group 1 - UBS expresses a positive outlook on the collaboration between Rongchang Biopharma and AbbVie, which grants overseas rights for RC148 (PD-1/VEGF) [1] - The collaboration includes an upfront payment of $650 million, potential milestone payments of up to $4.95 billion, and double-digit tiered royalties on net sales outside Greater China [1] - UBS believes that AbbVie, as a multinational pharmaceutical company, will enhance the global development and commercialization of RC148, and holds a favorable view on the differentiated development strategy of RC148 [1] Group 2 - The upfront payment is expected to improve Rongchang Biopharma's net debt situation, with multiple new drug approvals anticipated to enable the company to achieve breakeven starting in 2026 [1] - UBS upgrades Rongchang Biopharma's rating from "Neutral" to "Buy," raising the target price from HKD 63.8 to HKD 120 [1]

Core Viewpoint - The announcement details the completion of the stock registration for the 2022 and 2023 A-share restricted stock incentive plans of Rongchang Biopharmaceutical (Yantai) Co., Ltd, including the listing of 767,240 shares on January 26, 2026 [2][19]. Summary by Sections Stock Listing and Incentive Plan - The stock listing type is for equity incentive shares, with a total of 767,240 shares to be listed for circulation on January 26, 2026 [2]. - The company has completed the registration of shares for the third vesting period of Class A rights and the first vesting period of Class B rights under the 2022 A-share restricted stock incentive plan, as well as the first vesting period of the 2023 plan [2][21]. Decision-Making Process - The decision-making process for the 2022 A-share restricted stock incentive plan involved multiple meetings, including the first board meeting on October 16, 2022, where the plan was approved [3][4]. - The plan was publicly announced and underwent a verification process by the supervisory board, which confirmed the legitimacy of the incentive objects [3][4][5]. Shareholder Meetings and Approvals - The company held several shareholder meetings, including the second extraordinary general meeting on December 28, 2022, where the incentive plan was approved [5][13]. - The independent directors provided their opinions supporting the incentive plan during the meetings [6][11]. Stock Vesting Details - For the 2022 A-share restricted stock incentive plan, 128,850 shares of Class A rights were eligible for vesting, with 21 participants, while 497,760 shares of Class B rights were eligible for 112 participants [17]. - For the 2023 A-share restricted stock incentive plan, 234,600 shares were eligible for 18 participants, with some shares not vesting due to funding arrangements [18]. Financial Impact - The newly vested shares represent approximately 0.14% of the total share capital, which is not expected to have a significant impact on the company's recent financial performance [21].

本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條由榮昌生物製藥 （煙台）股份有限公司（「本公司」）作出。 茲載列本公司於上海證券交易所網站刊登公告如下，僅供參閱。 承董事會命 榮昌生物製藥（煙台）股份有限公司 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，並表明概不就因本公告全部或任何部份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。 RemeGen Co., Ltd.* 榮 昌 生 物 製 藥（ 煙 台 ）股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：9995） 海外監管公告 董事長兼執行董事 王威東先生 中國煙台 2026年1月21日 於本公告日期，董事會成員包括執行董事王威東先生、房健民博士、林健先生及 溫慶凱先生；非執行董事王荔強博士及蘇曉迪博士；及獨立非執行董事郝先經先 生、陳雲金先生及黃國濱先生。 * 僅供識別 | 证券代码：688331 | 证券简称：荣昌生物 | 公告编号：2026-005 | | --- | --- | --- | | 港股代码：09995 | 港股简称 ...

本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 767,240股。 本次股票上市流通总数为767,240股。 本次股票上市流通日期为2026 年 1 月 26 日。 根据中国证券监督管理委员会、上海证券交易所、中国证券登记结算有限责 任公司上海分公司相关业务规定，荣昌生物制药（烟台）股份有限公司（以下简 称"公司"）于近日收到中国证券登记结算有限责任公司上海分公司出具的《证券变 更登记证明》，公司完成了 2022 年 A 股限制性股票激励计划 A 类权益第三个归 属期及 B 类权益首次授予第二个归属期、2023 年 A 股限制性股票激励计划首次授 予第一个归属期限制性股票的股份登记工作。现将有关情况公告如下： 一、本次限制性股票归属的决策程序及相关信息披露 | 证券代码：688331 | 证券简称：荣昌生物 | 公告编号：2026-005 | | --- | --- | --- | | 港股代码：09995 | 港股简称：榮昌生物 | | 荣昌生物制药（烟台）股份有限公司 2022年及 2023年 A股限制性股票激励计划相关权益对 应归属期归属结果暨股份上市公告 本公司董事会及全体董事保证本公 ...

截至2026年1月20日，本公司已透过上海证券交易所的交易系统以集中竞价交易方式累计回购19.41万股 本公司股份，占本公司股本总数的0.0344%。回购交易的最高价格为每股人民币103.78元、最低价格为 每股人民币102.17 元，所付资金总额为人民币2000.4万元（不包括交易费用）。本公司的股份回购已达 回购资金总额的下限，且并无超越回购资金总额的上限，回购计划已完全实施。 责任编辑：卢昱君 热点栏目自选股 数据中心 行情中心 资金流向 模拟交易客户端 荣昌生物（09995）发布公告，于2026年1月20日，本公司透过上海证券交易所的交易系统以集中竞价交 易方式首次回购19.41万股本公司股份，占本公司股本总数5.64亿股的 0.0344%。回购交易的最高价格为 每股人民币103.78元、最低价格为每股人民币102.17元，所付资金总额为人民币2000.4万元（不包括交 易费用）。 ...

格隆汇1月21日丨荣昌生物(09995.HK)发布公告，2026年1月20日耗资人民币2000.4万元回购19.41万股A 股，回购价格每股102.17-103.78元。 截至2026年1月20日，公司已透过上交所的交易系统以集中竞价交易方式累计回购19.41万股公司股份， 占公司股本总数的0.0344%。回购交易的最高价格为每股人民币103.78元、最低价格为每股人民币 102.17元，所付资金总额为人民币2000.4万元(不包括交易费用)。公司的股份回购已达回购资金总额的 下限，且并无超越回购资金总额的上限，回购计划已完全实施。 ...

截至2026年1月20日，本公司已透过上海证券交易所的交易系统以集中竞价交易方式累计回购19.41万股 本公司股份，占本公司股本总数的0.0344%。回购交易的最高价格为每股人民币103.78元、最低价格为 每股人民币102.17元，所付资金总额为人民币2000.4万元(不包括交易费用)。本公司的股份回购已达回 购资金总额的下限，且并无超越回购资金总额的上限，回购计划已完全实施。 荣昌生物(09995)发布公告，于2026年1月20日，本公司透过上海证券交易所的交易系统以集中竞价交易 方式首次回购19.41万股本公司股份，占本公司股本总数5.64亿股的0.0344%。回购交易的最高价格为每 股人民币103.78元、最低价格为每股人民币102.17元，所付资金总额为人民币2000.4万元(不包括交易费 用)。 ...