Zhi Tong Cai Jing·2025-08-19 00:42Core Viewpoint - Rongchang Biopharmaceutical (09995) has made significant strides in its stock performance and strategic partnerships, indicating strong growth potential and market interest [1] Group 1: Stock Performance - As of August 18, 2023, shareholders transferred shares worth HKD 784 million from the Hong Kong Stock Connect (Shanghai) to HSBC Hong Kong, representing 4.87% of the company's market value [1] - The company's stock price has surged over 458% year-to-date [1] Group 2: Strategic Partnership - On August 19, 2023, Rongchang Biopharmaceutical announced an agreement with Santen Pharmaceutical Co., Ltd.'s wholly-owned subsidiary, Santen (China) Co., Ltd., to license its proprietary RC28-E injection [1] - Santen China will gain exclusive rights for the development, production, and commercialization of RC28-E in Greater China, South Korea, Thailand, Vietnam, Singapore, the Philippines, Indonesia, and Malaysia, while Rongchang retains global exclusive rights outside these regions [1] Group 3: Financial Terms of the Agreement - Rongchang Biopharmaceutical will receive a non-refundable and non-offsettable upfront payment of RMB 250 million from Santen China, along with potential milestone payments of up to RMB 520 million for development and regulatory achievements, and up to RMB 525 million for sales milestones [1] - Additionally, Rongchang will earn a tiered sales royalty ranging from high single-digit to double-digit percentages based on product sales in the licensed regions [1]