Core Viewpoint - Recent clinical trial results for Taitasip from Rongchang Biologics have met primary and all secondary endpoints, indicating strong potential for the drug in the market [1] Group 1: Clinical Results - Rongchang Biologics announced that Taitasip's Phase III results in mainland China have achieved all major and secondary endpoints [1] - The positive clinical data supports a favorable outlook for the sales prospects of both Taitasip and Vidisimo [1] Group 2: Market Potential - The global sales peak for Rongchang Biologics is projected to exceed $2.5 billion, reflecting the significant market value of Taitasip in the autoimmune sector [1] - The company is expected to gradually realize this market value in its overall valuation [1] Group 3: Financial Projections - Revenue forecasts for 2025 to 2027 have been raised by 1% to 4% based on the promising clinical data [1] - The target price for Rongchang Biologics has been increased to HKD 109, maintaining a "Buy" rating [1]

Group 1 - Rongchang Biologics (09995.HK) experienced a nearly 5% increase in stock price, reaching a rise of 4.81% at HKD 96.95 [1] - The trading volume for Rongchang Biologics was reported at HKD 706 million [1]

Core Viewpoint - Rongchang Biopharma (09995) shares increased by nearly 5%, closing at HKD 96.95 with a trading volume of HKD 706 million, driven by significant research presentations at the ESMO annual meeting in Berlin [1] Group 1: Research Highlights - Rongchang Biopharma presented 10 key studies at the ESMO annual meeting from October 17 to 21, 2025, including the pivotal Phase III study data of Vidisicimab for first-line treatment of urothelial carcinoma, which was prominently featured at the conference and published in the New England Journal of Medicine [1] - The Phase III clinical research data for Taitasip in treating IgA nephropathy will be presented as a "Late-Breaking Oral" report at the American Society of Nephrology (ASN) annual meeting scheduled for November 5 to 9, 2025, in Houston, USA [1] Group 2: Market Outlook - Huatai Securities believes that the dense data readouts validate the global competitiveness of the company's pipeline and are expected to accelerate its overseas expansion: 1) The overseas Phase I/II study of Vidisicimab is progressing steadily, with expectations for the 2LUC indication to achieve BLA by early 2026; 2) RC148 has received CDEBTD approval, and the overseas Phase I/II clinical trial has been approved by the FDA, indicating significant overseas potential; 3) The global Phase III enrollment for Taitasip is proceeding smoothly, with pSS expected to become the next key indication [1]

Core Viewpoint - Rongchang Biopharma (09995) experienced a nearly 5% increase in stock price, reaching HKD 96.95, with a trading volume of HKD 706 million, following the announcement of significant research findings at the 2025 European Society for Medical Oncology (ESMO) annual meeting in Berlin [1] Group 1: Research Highlights - Rongchang Biopharma presented 10 major studies at the ESMO annual meeting, including the Phase III study data of Vidisicimab for first-line treatment of urothelial carcinoma, which was prominently featured at the conference and published in the New England Journal of Medicine (NEJM) [1] - The Phase III clinical research data for Taitasip in treating IgA nephropathy will be presented as a "Late-Breaking Oral" report at the upcoming 2025 American Society of Nephrology (ASN) annual meeting in Houston, scheduled for November 5-9 [1] Group 2: Market Outlook - Huatai Securities believes that the dense data readouts demonstrate the global competitiveness of the company's pipeline and are expected to accelerate its overseas expansion: 1) The overseas Phase I/II study of Vidisicimab is progressing steadily, with expectations for the 2LUC indication to achieve BLA by early 2026 [1] - RC148 has received CDEBTD approval, and the overseas Phase I/II clinical trial has been approved by the FDA, indicating significant potential for international market entry [1] - The global Phase III enrollment for Taitasip is proceeding smoothly, with primary Sjögren's syndrome (pSS) expected to become a key indication [1]

Core Viewpoint - Rongchang Biopharmaceuticals has shown significant stock performance with a year-to-date increase of 220.29%, indicating strong market interest and potential growth in the biopharmaceutical sector [1][3]. Financial Performance - As of June 30, 2025, Rongchang Biopharmaceuticals reported a revenue of 1.098 billion yuan, representing a year-on-year growth of 48.02% [3]. - The company recorded a net profit attributable to shareholders of -450 million yuan, which is a 42.40% increase compared to the previous period [3]. Stock Market Activity - On October 21, 2023, the stock price of Rongchang Biopharmaceuticals reached 96.44 yuan per share, with a trading volume of 351 million yuan and a turnover rate of 2.28% [1]. - The stock has experienced a net outflow of 28.82 million yuan from major funds, with significant buying and selling activity from large orders [1]. Shareholder Structure - As of June 30, 2025, the number of shareholders increased to 12,900, a rise of 90.69% from the previous period [3]. - New significant shareholders include Hong Kong Central Clearing Limited and several mutual funds, indicating growing institutional interest [4]. Business Overview - Rongchang Biopharmaceuticals focuses on innovative biopharmaceuticals, particularly in the fields of antibody-drug conjugates (ADC), monoclonal antibodies, and bispecific antibodies [2]. - The company aims to address unmet clinical needs in autoimmune diseases, oncology, and ophthalmology, with a revenue composition of 99.46% from product sales [2].

格隆汇10月17日丨荣昌生物(09995.HK)公告，公司将于2025年10月30日(星期四)举行董事会会议，藉以 (其中包括)考虑及批准公司及其附属公司截至2025年9月30日止9个月未经审计第三季度业绩及其刊发。 ...

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份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 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） 董事會召開日期 榮昌生物製藥（煙台）股份有限公司（「本公司」）之董事會（「董事會」）謹此宣佈， 本公司將於2025年10月30日（星期四）舉行董事會會議，藉以（其中包括）考慮及 批准本公司及其附屬公司截至2025年9月30日止九個月之未經審計第三季度業績 及其刊發。 承董事會命 榮昌生物製藥（煙台）股份有限公司 董事長兼執行董事 王威東先生 中華人民共和國，煙台 2025年10月17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 ...

Core Insights - Rongchang Biologics (09995) experienced a 5.10% increase in stock price, currently trading at HKD 95.90, with a transaction volume of HKD 287 million [1] Group 1: Clinical Research Announcement - On October 16, Rongchang Biologics announced the results of its Phase III clinical study for Taitasip in treating systemic lupus erythematosus (SLE), published in the prestigious medical journal New England Journal of Medicine (NEJM) [1] - Systemic lupus erythematosus (SLE) is a chronic systemic autoimmune disease that can affect multiple organs and lead to irreversible damage, with over half of patients experiencing organ damage within 2-6 years post-diagnosis [1]

Core Viewpoint - Rongchang Biopharma's Taitasip showed significant efficacy in treating Sjögren's syndrome in the Phase III trial conducted in China, with the 160mg dosage group demonstrating notable statistical differences and clinical improvements compared to the placebo group [1][3]. Group 1: Clinical Data and Efficacy - The Phase III trial results revealed that 71.8% of patients in the Taitasip group experienced an improvement of 3 or more points in the ESSDAI score, significantly higher than the 19.3% in the placebo group, effectively validating its therapeutic efficacy [3]. - Taitasip outperformed competitors like Novartis' Ianalumab and Johnson & Johnson's Nikalimab in improving patient-reported symptoms, indicating a potential for expanding its use beyond systemic lupus erythematosus to another important autoimmune indication [3]. Group 2: Competitive Advantages of Chinese Innovative Drugs - Chinese innovative drugs have established a differentiated, high-cost performance, and global competitive advantage, with core capabilities evolving from drug design to international compliance [4]. - The domestic pharmaceutical industry has transitioned from "me-too" to "me-better" and "first-in-class" drug development, focusing on unique technical breakthroughs rather than just cost competition [4]. - The cost of developing similar targeted drugs in China is approximately one-third of international levels, supported by a large population providing rich clinical resources and the ongoing release of "engineer dividends" in the biopharmaceutical sector [4]. Group 3: Global Clinical Trial Compliance - Leading Chinese pharmaceutical companies have developed the capability to conduct clinical trials according to ICH standards, allowing their clinical data to be directly used for international drug registration, thus lowering barriers for global commercialization [5]. - The Chinese innovative drug sector has progressed from "catching up" to "keeping pace," with some areas even leading, as evidenced by domestic products outperforming international counterparts in head-to-head clinical trials [5]. Group 4: Investment Opportunities in Innovative Drugs - The innovative drug sector is experiencing volatility, primarily due to market style shifts and short-term capital flows, but remains focused on business development (BD) expectations, with the fourth quarter typically accounting for about 40% of annual BD activity [6]. - The Guotai Innovative Drug ETF (517110) tracks the Shanghai-Hong Kong-Shenzhen innovative drug industry index, covering quality innovative drug companies across various segments, reflecting the overall performance of the innovative drug industry [6].

Core Viewpoint - Rongchang Biologics (09995.HK) experienced a significant increase in stock price, rising over 5% to reach 96.45 HKD with a trading volume of 205 million HKD [2] Company Summary - Rongchang Biologics' stock price increased by 5.7% as of the latest report [2] - The current trading price is 96.45 HKD [2] - The total trading volume reached 205 million HKD [2]