Core Viewpoint - Four Ring Pharmaceutical's subsidiary, Xuan Zhu Biotechnology, has received approval from the National Medical Products Administration (NMPA) in China for the new indication of its innovative drug, Pyrotinib (brand name: Xuan Yue Ning®), for first-line treatment of HR+/HER2- advanced breast cancer, marking it as the first and only drug in China to cover all treatment lines for this cancer subtype [1][2]. Group 1: Company Developments - The approval of Pyrotinib's new indication significantly expands the patient coverage and enhances the clinical value and accessibility of the drug, providing strong support for future sales growth [1]. - Pyrotinib has now been approved for three indications in China, following its previous approvals for combination therapy with Fulvestrant and monotherapy [1]. Group 2: Industry Context - Breast cancer is the most commonly diagnosed malignant tumor among women globally, with new cases in China projected to rise from 322,200 in 2018 to 374,700 in 2024, and expected to reach 435,000 by 2032 [2]. - HR+/HER2- breast cancer is the most prevalent subtype in China, accounting for approximately 75% of cases, with about 30% of these diagnosed as advanced breast cancer [2]. - The market for CDK4/6 inhibitors combined with endocrine therapy for HR+/HER2- advanced breast cancer is expected to reach RMB 13 billion by 2032 [2]. Group 3: Clinical Research Insights - The approval for the new indication is based on data from the BRIGHT-3 study, a randomized, double-blind Phase III clinical trial conducted at 58 centers in China, assessing the efficacy and safety of Pyrotinib in combination with Letrozole or Anastrozole for first-line treatment of HR+/HER2- advanced breast cancer [3]. - The BRIGHT-3 study results indicated that the median progression-free survival (mPFS) for the Pyrotinib group has not yet been reached, suggesting a durable efficacy advantage, with a 47% reduction in the risk of disease progression or death compared to the control group [3]. - In the intention-to-treat population, the overall response rate (ORR) for the Pyrotinib group was 63.5%, significantly higher than the control group's 42.5%, with manageable safety profiles for common adverse events [3].

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之內容概不 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 全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 Sihuan Pharmaceutical Holdings Group Ltd. 四環醫藥控股集團有限公司 （於百慕達註冊成立的有限公司） （股份代號：0460） 自願公告 軒悅寧® （吡 洛 西 利 片）第 三 個 適 應 症 上 市 申 請 獲 得NMPA批 准 用於一線治療HR+/HER2-晚期乳腺癌 吡 洛 西 利 片（商 品 名：軒 悅 寧®）作 為 國 內 首 個 獲 批 的CDK2/4/6抑 制 劑，其 具 有 獨 特 的 多 靶 點 協 同 作 用 機 制，具 有 強 效 抑 制 腫 瘤 細 胞 增 殖，顯 著 降 低 傳 統CDK4/6 抑 制 劑 常 見 的 血 液 學 毒 性 等 優 勢。吡 洛 西 利 已 於 二 零 二 五 年 五 月 獲 得 中 國 國 家藥品監督管理局批准與氟維司群聯合用於既往接受內分泌治療後出現疾病 ...

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2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 四環醫藥控股集團有限公司 呈交日期: 2026年3月2日 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) | 00460 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | HKD | | 0.01 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 100,000,000,000 | HKD | | 0.01 | HKD | | 1,000,000, ...

新京报贝壳财经讯 2月22日，四环医药在港交所公告称，根据恒生指数有限公司于2026年2月13日公布 的截至2025年12月31日止期间恒生指数系列季度检讨结果，集团旗下非全资附属公司轩竹生物科技股份 有限公司（"轩竹生物"，股份代号：2575）被纳入恒生综合指数成份股，该调整将于2026年3月9日正式 生效。 ...

Core Viewpoint - Four Seasons Pharmaceutical (00460.HK) announced that its non-wholly owned subsidiary, Xuan Zhu Biotechnology Co., Ltd. ("Xuan Zhu Bio"), will be included in the Hang Seng Composite Index, effective March 9, 2026, following the quarterly review results published by Hang Seng Indexes Company on February 13, 2026 [1] Group 1 - Xuan Zhu Bio is set to be listed on the Hong Kong Stock Exchange under stock code 2575 on October 15, 2025 [1] - The Hang Seng Composite Index covers the top 95% of listed companies on the Hong Kong Stock Exchange by market capitalization [1] - Inclusion in the Hang Seng Composite Index is expected to meet the eligibility criteria for the Stock Connect programs, which facilitate trading between Hong Kong and mainland Chinese investors [1]

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之內容概不 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 全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 Sihuan Pharmaceutical Holdings Group Ltd. 四環醫藥控股集團有限公司 四 環 醫 藥 控 股 集 團 有 限 公 司（「本公司」或「四環醫藥」，連 同 其 附 屬 公 司，統 稱 為「本集團」）董 事 會（「董事會」）欣 然 宣 佈，根 據 恒 生 指 數 有 限 公 司 於2026年2月 13日公佈的截至2025年12月31日 止 期 間 之 恒 生 指 數 系 列 季 度 檢 討 結 果，本 集 團 旗 下 非 全 資 附 屬 公 司 軒 竹 生 物 科 技 股 份 有 限 公 司（「軒竹生物」，於 二 零 二 五 年 十 月 十 五 日 在 香 港 聯 合 交 易 所 有 限 公 司（「香港聯交所」）主 板 上 市，股 份 代 號： 2575）被 納 入 恒 生 綜 合 指 數 之 成 分 股，該 調 ...

Core Viewpoint - The company anticipates a revenue of no less than RMB 2.5 billion for the year, representing a growth rate of over 30% compared to the same period last year, along with a net profit of no less than RMB 150 million [1] Group 1: Business Performance - The aesthetic medicine segment is expected to achieve revenue exceeding RMB 1.4 billion and a segment profit of over RMB 700 million, with both revenue and profit growth rates exceeding 90% year-on-year, becoming the largest revenue and profit contributor for the company [1] - The innovative drug business is entering a harvest phase, with combined revenue from XuanZhu Bio and HuiSheng Bio significantly increasing compared to the previous year, and the commercialization of new products progressing smoothly, indicating a transition from investment to profitability for this segment [1] Group 2: Financial Health - The company maintains a robust financial position with ample cash reserves, having implemented multiple rounds of share buybacks and successfully completed the spin-off listing of XuanZhu Bio, which has led to significant equity appreciation and alleviated R&D funding pressures, thereby optimizing the company's financial structure and driving profit breakthroughs [1]

Summary of the Conference Call for Sihuan Pharmaceutical Company Overview - **Company**: Sihuan Pharmaceutical - **Industry**: Pharmaceutical and Aesthetic Medicine Key Points Financial Performance and Projections - Sihuan Pharmaceutical is expected to turn profitable in 2025, with projected earnings between 150 million to 250 million RMB, reversing previous losses due to R&D investments in innovative drugs and the impact of generic drug procurement [2][5] - The company anticipates entering a product expansion and distribution phase in 2026 and 2027, which is expected to further enhance performance [2][4] - The aesthetic medicine segment is projected to generate nearly 1.4 billion RMB in revenue by 2025, driven by strong sales of the botulinum toxin product, Letibotulinum, expected to reach around 1 billion RMB, and the Sephora Youth Needle, estimated at 200 million RMB [2][6] Product Pipeline and Market Position - Sihuan Pharmaceutical has a robust pipeline in the aesthetic medicine sector with nearly 60 products, showcasing strong R&D capabilities and significant channel advantages [2][4] - Letibotulinum is rapidly penetrating approximately 8,000 aesthetic institutions, with new products like the Youth Needle and Composite Water Light Needle also performing well [2][4] - For 2026, Letibotulinum is expected to maintain a growth rate of over 20%, while new products are projected to achieve sales of 400-500 million RMB [2][6] Innovative Drug Business - The innovative drug segment is expected to significantly reduce losses in 2026, with anticipated annual revenue exceeding 500 million RMB, and a potential break-even point in 2027 [2][7] - Core products such as CDK 4/6 are entering a commercialization acceleration phase, supported by the listing of the subsidiary, Xuanzhu [2][7] Market Valuation and Investment Potential - Current market capitalization of Sihuan Pharmaceutical is 14.1 billion RMB, with earnings forecasts of 710 million and 930 million RMB for 2026 and 2027, respectively, leading to P/E ratios of 19.8 and 15.2 [3][7] - The valuation is considered low relative to growth potential, with a reasonable valuation estimated at 22-25 times P/E, suggesting a target market cap of 21 billion RMB, indicating a potential upside of approximately 50% [3][7] Market Conditions and Strategic Outlook - Recent surveys indicate a stabilization in demand within the aesthetic medicine industry, with some institutions experiencing a shift from declining to positive growth [4] - Improved market liquidity compared to the previous year and increased attention from core institutional investors are expected to bolster the company's market position [5] Additional Insights - The aesthetic medicine segment's revenue for 2025 is expected to be around 1.4 billion RMB, with the generic and innovative drug segments contributing an estimated 1-1.1 billion RMB [6] - The company is poised for significant growth, with a focus on leveraging its product pipeline and market conditions to enhance shareholder value [5][6]

Core Viewpoint - The company, Sihuan Pharmaceutical (00460), has announced a positive earnings forecast, expecting revenue of at least 2.5 billion RMB for the year ending December 31, 2025, representing a growth rate of over 30% compared to the previous year [1][5]. Group 1: Financial Performance - The company anticipates a net profit of no less than 150 million RMB for the same period [1][5]. - The growth in performance is primarily driven by the rapid expansion of the medical aesthetics business, which is expected to generate over 1.4 billion RMB in revenue and over 700 million RMB in segment profit, with both metrics showing an annual growth rate exceeding 90% [1][5]. Group 2: Business Segments - The medical aesthetics segment has become the largest contributor to both revenue and profit for the company, significantly boosting overall performance [1][5]. - The innovative drug business is entering a harvest phase, which is expected to improve the company's profit structure [1][5]. Group 3: Financial Health - The company maintains a robust financial position with ample cash reserves, having conducted multiple rounds of share buybacks and completed the spin-off of Xuan Bamboo Biotechnology, which has optimized the financial structure and driven profit breakthroughs [1][5].

Core Viewpoint - Four Seasons Pharmaceutical (00460) anticipates significant revenue growth, projecting at least 2.5 billion RMB in revenue and a net profit of at least 150 million RMB for the fiscal year ending December 31, 2025, driven primarily by its aesthetic medicine business and innovative drug segment [1] Group 1: Financial Performance - The company expects revenue growth exceeding 30% compared to the same period last year, with a projected revenue of no less than 2.5 billion RMB [1] - The net profit is anticipated to be at least 150 million RMB, indicating a strong financial outlook [1] Group 2: Business Segments - The aesthetic medicine segment is expected to generate over 1.4 billion RMB in revenue and over 700 million RMB in segment profit, with both metrics showing annual growth rates exceeding 90% [1] - The innovative drug business is entering a harvest phase, significantly improving the company's profit structure [1] Group 3: Financial Health - The company maintains a robust financial position with ample cash reserves, having executed multiple rounds of share buybacks [1] - The successful spin-off of Xuan Zhu Bio has optimized the company's financial structure, contributing to profit breakthroughs [1]