2 1 Shi Ji Jing Ji Bao Dao·2025-05-25 10:13Market Overview - During the week of May 19 to May 23, the A-share market saw a collective decline in the three major indices, with the Shanghai Composite Index closing at 3348.37 points, down 0.57% for the week, the Shenzhen Component Index at 10132.41 points, down 0.46%, and the ChiNext Index at 2021.50 points, down 0.88% [2] - Approximately 31% of stocks experienced gains during the week, with 93 stocks rising over 15% and 18 stocks falling over 15%. The pharmaceutical, non-ferrous metals, automotive, home appliances, and coal sectors showed the highest gains, while the computer, machinery, communication, electronics, and non-bank financial sectors saw declines [2] Top Gainers - The top-performing stock was Sanofi Biotech (三生国健), which surged by 99.96% during the week, followed by Huibo Yuntong (慧博云通) with a 69.00% increase. Other notable gainers included Binhai Energy (滨海能源), Liren Lizhuang (丽人丽妆), and Haichen Pharmaceutical (海辰药业), all of which saw gains exceeding 50% [4][5] Sanofi Biotech's Performance - Sanofi Biotech operates in the biotechnology sector, focusing on innovative antibody drug research and has a mature integrated platform for research, production, and sales. The company specializes in monoclonal, bispecific, and multifunctional recombinant proteins [5] - Following the announcement of a collaboration with Pfizer for a dual-target antibody product, Sanofi Biotech's stock hit the daily limit up on May 20 and 21, with significant trading volumes. However, on May 23, the stock experienced a sharp decline, dropping over 10% during intraday trading and closing down more than 3% [6][7] Collaboration with Pfizer - On May 20, Sanofi Biotech announced a collaboration with Pfizer, granting exclusive global development, production, and commercialization rights for the dual-target antibody SSGJ-707, excluding mainland China. Pfizer will pay a non-refundable upfront fee of $1.25 billion, with potential milestone payments reaching up to $4.8 billion, plus a percentage of sales based on the product's performance in authorized regions [7] Market Trends in Innovative Drugs - The Chinese innovative drug sector is witnessing an increase in outbound licensing transactions, with 126 events recorded in 2024, involving upfront payments totaling $4.099 billion and a total deal value of $52.577 billion. The first quarter of 2025 also showed active outbound transactions, with 33 deals disclosed, exceeding $36.2 billion [8] Top Losers - The worst-performing stock for the week was Yuzhong Sanxia A (渝三峡A), which fell by 25.91%. Other significant decliners included Jitai Co. (集泰股份), Qifeng Precision (七丰精工), and Ningbo Ocean (宁波远洋), all of which experienced declines exceeding 18% [10][11]