康方生物(09926)发布截至2024年12月31日止年度业绩，收入21.24亿元(人民币，下同);商业销售收入 20.44亿元，同比增加25.34%;毛利18.35亿元。 此外，报告期内公司亦收到来自多个产品合作方的商业授权收入，共计约1.22亿元，主要为来自 SUMMIT支付的首付款。 截至目前，公司现有产能为94000升，保障大规模产能供应，并有持续和稳定的产能扩张计划以满足未 来的临床及商业化需求。集团符合GMP要求的生产设施是根据美国FDA、EMA和NMPA的规章设计和 验证的，可支持从药物发现到工艺开发、GMP合规试点和商业生产的整个药物开发过程，将有效地支 撑公司临床及商业化发展。 公告称，截止目前，公司总计拥有50多个在研创新项目，涵盖肿瘤、自身免疫及代谢性疾病等多个领 域，其中61款自主研发的产品获批上市以及2款产品在NMPA上市审评中，共有12款产品在开展注册性 III期临床试验，12个产品在I/II期临床试验阶段。管线产品中，15个为潜在全球首创(first-in-class)或同类 最佳(best-in-class)双抗╱多抗╱双抗ADC。公司期望通过高效及创新的研发、生产、商业化平台 ...

智通财经APP讯，腾盛博药-B(02137)发布公告，在中国北京举行的第34届亚太肝病学会年会("2025亚肝 会")上，公司以最新突破口头报告的形式公佈了其正在进行的ENSURE 2期研究的最新数据。 ENSURE(NCT05970289)是一项多中心、开放性2期研究。队列1-3旨在评估elebsiran(一种研究性小干扰 核糖核酸(siRNA))在与聚乙二醇干扰素α ("PEG-IFNα")联合治疗慢性乙型肝炎病毒("HBV")感染者(基线 乙肝表面抗塬("HBsAg")水平为100-3,000 IU/mL)中的作用。在先前的亚太地区研究 BRII-179-835- 001(NCT04749368)中接受过9剂BRII-179(一种基于重组蛋白的治疗性疫苗)联合elebsiran(BRII-835)给药 的参与者被纳入该研究的第4队列，并接受elebsiran和PEG-IFNα联合治疗。本研究队列4的设计基于既往 研究的见解，即多数比例的慢性HBV患者在接受多剂次BRII-179后仍未能产生足够的免疫应答，因此不 太可能获得免疫支持以实现持久的功能性治愈。 • 第24周时，BRII-179应答者的HBsA ...

智通财经APP讯，信铭生命科技(00474)发布公告，于2025年3月29日，昊天国际建设投资与江苏利通订 立合资协议，以成立、经营及管理合资公司，昊天国际建设投资和江苏利通将分别拥有合资公司75%及 25%的股权。 在过去一年来，AI领域由大语言模型到多模态模型，再到具身智慧的深层次发展。DeepSeek开源模型 实现了突破式发展，其训练和推理成本的大幅下降，不仅降低了大模型的应用门槛，也为用户提供更便 捷的接入方式，从而有力推动AI的商业化进程。这一趋势还在加速推动数据中心从网络数据中心向 AIDC演进，为行业发展带来新的机遇。本集团积极寻求AI领域具备潜质的投资机会，以期多元化及提 升其资产组合、扩大其收入来源及加速本集团整体的进一步增长。与江苏利通的合资为本集团进入该业 务领域提供了宝贵机会，战略合作的实现将有助于本集团长远的业务发展。在没有不可预见的情况的情 况下，以及若果合资公司的业务取得成功，预计其业务的收入最终可能达到每年3亿美元甚至更多。 考虑到合资公司将产生的预期回报，董事会(包括独立非执行董事)认为，合资协议的条款和条件经公平 磋商并按正常商业条款订立，其条款属公平合理并符合本集团及股东 ...

合资公司的经营范围包括：(a)AI算力租赁：购买先进的算力伺服器，共同打造算力平台，构建优化的 算力池资源，提供高性能的算力服务，满足国际AI企业的需求。(b)AI数据赋能服务：收集和整理AI领 域的数据，通过演算法模型和AI智慧分析系统为终端用户数据提供高性能计算，以实现在智能驾驶、 生命科技、具身智能等应用领域为终端用户提供快速科学建议。(c)研发与商业合作：联合成立研发团 队，专注于AI演算法优化、算力技术升级等，推动产品创新。同时，共享行销管道，联合市场计算能 力和AI解决方案，扩大在该领域的市场份额，并利用数据技术资源支撑和各种演算法的数学模型推动 数据应用，从而进一步开展在数据管理、数位模型构建等多元化领域的战略合作。(d)与AI算力设备和 器材相关的贸易。 智通财经APP讯，昊天国际建投(01341)发布公告，于2025年3月29日，公司与江苏利通订立合资协议， 以成立、经营及管理合资公司，公司和江苏利通将分别拥有合资公司75%及25%的股权。 根据合资协议，公司和江苏利通同意分别提供人民币3亿元和人民币1亿元的资本承诺。合资公司将成为 公司的附属公司，其经营业绩、资产和负债将合并到集团的财务报 ...

智通财经APP讯，绿叶制药(02186)发布截至2024年12月31日止年度的年度业绩，收入60.61亿元(人民 币，下同)，同比减少1.33%;股东应占溢利4.72亿元，同比减少11.4%;每股基本盈利12.54分。 公告称，于中国市场，集团主要产品均于其四大主要治疗领域(肿瘤科、中枢神经系统、心血管及代谢) 具竞争地位。根据IQVIA数据显示，于报告期内，肿瘤科、代谢、中枢神经系统及心血管相关药品分别 构成中国第一、第二、第四及第五大药品市场。集团于中国的主要产品组合包括6款肿瘤治疗领域药品 (力扑素、博优诺、百拓维、赞必佳、希美纳及米美欣)、5款中枢神经系统治疗领域药品(思瑞康、若欣 林、瑞可妥、美比瑞及金悠平)、3款心血管治疗领域药品(血脂康、欧开及麦通纳)及1款代谢治疗领域药 品(贝希)。 就国际市场而言，集团的产品主要定位于中枢神经系统治疗领域，包括思瑞康、思瑞康缓释片、 Erzofri、Rykindo、利斯的明单日透皮贴剂、利斯的明多日透皮贴剂、芬太尼贴剂及丁丙诺啡贴剂。 于报告期内，集团中枢神经系统治疗领域产品销售额减少4.8%，达16.13亿元。肿瘤治疗领域产品销售 额减少1.8%，达20. ...

Core Viewpoint - Li Ka-shing's sale of port operations has sparked significant public outcry, with concerns about the implications for China's trade and supply chain amidst ongoing US-China tensions [1][2] Group 1: Company Actions and Reactions - Li Ka-shing's CK Hutchison Holdings is expected to gain over $19 billion from the sale of its port business, which includes 43 ports [1] - The Hong Kong government and public figures have urged CK Hutchison to reconsider the sale, fearing it may lead to greater economic vulnerability for China [2] - Following the announcement, CK Hutchison's stock price has dropped significantly, with a market value loss exceeding HKD 32.3 billion, approximately 16% of its total market capitalization [2] Group 2: Industry Implications - The sale of ports could allow the US to establish a new logistics network, potentially leveraging this to exert pressure on China's exports and supply chains [1] - The US has implemented a new measure imposing a service fee of up to $1.5 million on Chinese vessels entering US ports, which may disrupt coal exports and lead to increased costs for American companies [3] - The unintended consequences of the service fee could result in a 35% increase in coal transportation costs, potentially leading to inventory buildup and layoffs in the coal industry [3]

保经营方面，公司继续致力于维持经营的稳定性和持续性，核心管理队伍团结稳定、上下同欲。年内， 集团连同其合营企业及联营公司实现了归属公司股东权益的合同销售金额约472亿元，对应归属公司股 东权益的合同销售面积约492万平方米。在费用管控上，公司适配当前市场变化和经营重心，持续优化 组织架构，年内行政费用同比去年下降了27.4%，不断提高经营效率。而在销售端，公司坚持"一盘一 策"的精细化管控，结合当地市场实际情况以及各项目自身资债情况，制定合理的销售价格和供货计 划，确保项目维持合理流速的同时最大化资产价值，持续做好资产负债表的主动管理工作。 公告称，来自房地产开发的收入约2457.19亿元。2024年的交付物业所确认收入的平均销售价格(不含增 值税)约每平方米7872元。 保交房仍是公司的第一要务。截至2024年12月31日，集团实现收入约2528亿元，集团及其合资企业和联 营公司累计完成交付房屋超38万套，累计交付面积约4608万平方米，涉及到31省242个城市。公司将继 续执行极限收支的运营策略，通过滚动预算管理，严格控制每一笔开支并每月复盘调整，确保现有资源 的高效利用。同时，公司积极响应国家和地方政府 ...

Core Insights - Pop Mart International Group has emerged as a significant winner in the "Guzi Economy" trend, reporting a revenue of 13.04 billion yuan for 2024, a year-on-year increase of 106.9%, and an adjusted net profit of 3.4 billion yuan, up 185.9% [1] - The company's internationalization strategy has been a key driver of its growth, with overseas revenue reaching 5.07 billion yuan, a staggering increase of 375.2% [1][2] - The company plans to open 100 new stores overseas in 2024, focusing on key urban locations and transportation hubs [2] Financial Performance - The revenue breakdown shows that domestic revenue was 7.97 billion yuan, growing by 52.3%, while overseas and Hong Kong, Macau, and Taiwan revenue accounted for nearly 40% of total revenue [1] - The revenue from the company's IPs, including THE MONSTERS, MOLLY, SKULLPANDA, and CRYBABY, exceeded 1 billion yuan each, contributing to a total of 7.6 billion yuan from these IPs [2] IP Development - THE MONSTERS IP achieved a remarkable revenue of over 3 billion yuan, marking a year-on-year growth of 726.6%, becoming a phenomenon in the market [3] - MOLLY IP generated 2.09 billion yuan, with a growth of 105.2%, and the company continues to innovate with new character designs [3] Product Categories - The revenue from figurines was 6.94 billion yuan, up 44.7%, while plush toys saw explosive growth with 2.83 billion yuan, a staggering increase of 1289% [4] - The company has split its product categories for better management and focus, particularly emphasizing the plush toy segment [4] Market Reaction - Following the release of the financial results, Pop Mart's stock price surged from 126.9 HKD to 140.7 HKD, reflecting a rise of over 10% [4] - The stock continued to perform well, reaching a peak of 160 HKD, resulting in a total market capitalization increase of 35.9 billion HKD to 206.419 billion HKD [4]

Core Insights - The "Xiansheng Full Exploration Plan" was launched by Xiansheng Pharmaceutical, which will invest 2 billion yuan over the next five years to focus on ten major scientific challenges in the fields of neurology and oncology [1][2] - The plan aims to support disruptive innovation research from the ground up, with a scientific advisory committee composed of 11 academicians from the Chinese Academy of Sciences and the Chinese Academy of Engineering [1] Group 1: Investment and Collaboration - Xiansheng Pharmaceutical will invest 2 billion yuan, and the Nanjing Jiangbei New Area will match this with an additional 2 billion yuan, creating a total investment of 4 billion yuan for the "Xiansheng Full Exploration Plan" [2] - The collaboration aims to establish a demonstration project that integrates technological innovation and industrial innovation [2] Group 2: Research Directions - The ten research directions supported by the plan include: 1. Treatment methods to fundamentally reverse the high mortality and disability rates of strokes 2. Discovery, validation, and drug development of potential targets for precise treatment of neurodegenerative diseases 3. Discovery, validation, and drug development of targets (or combinations) that could significantly improve current cancer treatment efficacy 4. Clinical applications of new-generation gene editing technologies 5. Therapeutic applications of RNA interference/mRNA technologies in neurodegenerative diseases, tumors, and infections 6. Clinical applications of new-generation cell therapies 7. Clinical applications of new-generation delivery technologies 8. Clinical applications related to anti-aging mechanisms 9. Application of AI technologies in target discovery and validation based on clinical data 10. Application of AI technologies in predicting clinical efficacy and safety in drug development [1] Group 3: Event Highlights - The meeting attracted two Nobel Prize winners, six academicians from the Chinese Academy of Sciences and the Chinese Academy of Engineering, and nearly 700 leaders from top hospitals and research institutions across the country [2] - The theme of the meeting was "With You, We Dare to Go Far," focusing on collaborative innovation strategies for the Chinese pharmaceutical industry [2]

Group 1 - The core financial performance of the company in 2024 includes revenue of RMB 2.08 billion, adjusted operating profit of RMB 229 million (up 64.9%), net profit attributable to shareholders of RMB 133 million (up approximately 176.9 times), and adjusted net profit attributable to shareholders of RMB 170 million (up 61.1%) [1] - The company has achieved significant improvement in profitability through the application of AI technology and cost reduction strategies, demonstrating strong recovery momentum in key financial indicators [1][2] - As of December 31, 2024, the total number of verified enterprise users on the platform reached 1.428 million (up 10.4%), and the total registered personal users reached 106 million (up 11.1%), with revenue from personal users amounting to RMB 320 million (up 23.1%) [1] Group 2 - The company has implemented various measures to enhance operational efficiency and profitability, including the integration of AI technology to improve user experience and retention, as well as organizational adjustments to optimize talent allocation and resource configuration [2] - The AI interview system, "猎聘·Doris," has been iterated to version 5.0, indicating ongoing innovation in AI applications [3] - The financial health of the company has significantly improved, achieving a net operating cash inflow of RMB 93 million and total cash reserves of approximately RMB 2.8 billion, which provides ample resources for strategic initiatives [3]