Group 1 - The company is exploring the use of stablecoin payment and settlement solutions for product sales outside mainland China, including offline stores, e-commerce sales, supply chain services, and digital ecosystem businesses [1] - An account has been opened with an independent third-party service provider specializing in fiat and stablecoin omnichannel digital payment solutions to facilitate efficient and seamless value flow globally [1] - The integration of virtual assets is expected to create significant business opportunities, particularly for cross-border e-commerce and overseas offline store clients who have ongoing needs for local payments and cross-border settlements [1] Group 2 - The adoption of stablecoin payment methods is anticipated to enhance payment efficiency and reduce costs, better meeting the needs of cross-border e-commerce clients [1] - This payment method is also expected to help mitigate exchange rate risks faced by the company when transacting with clients outside mainland China [1]

Core Viewpoint - The A-share market has reached a significant milestone with the Shanghai Composite Index surpassing 3,800 points, indicating a structural transformation driven by technology and innovation, particularly in the innovative pharmaceutical sector [1][2]. Company Overview - 康宁杰瑞制药 (Kangning Jereh) has emerged as a leading player in China's innovative drug industry, transitioning from a crisis to a strategic restructuring phase, focusing on core projects and enhancing its research and development capabilities [5][9]. - The company has successfully completed a strategic shift towards dual-targeted antibody drug conjugates (ADC), positioning itself for growth in the innovative drug development landscape [8][10]. Financial Performance - In the first half of 2025, 康宁杰瑞 reported revenue of 319 million yuan, a year-on-year increase of 84.05%, and a net profit of 21.58 million yuan, marking a return to profitability [22]. - The company's cash reserves reached 1.645 billion yuan, providing a solid financial foundation for future research and production [22]. Market Position and Potential - 康宁杰瑞's valuation is currently in a recovery phase, with its intrinsic value not fully recognized in the market, suggesting significant upside potential [23]. - The company is positioned favorably in the dual-targeted ADC sector, with its core products advancing ahead of industry peers, indicating a strong competitive edge [23]. Industry Context - The Chinese innovative drug sector is experiencing rapid growth, supported by favorable policies and a shift from imitation to independent innovation, with 康宁杰瑞 exemplifying this transition [20][25]. - The ongoing policy support for innovative drugs is expected to benefit companies with strong research capabilities and significant commercial potential [21].

Core Viewpoint - The company is exploring the use of stablecoin for payment and settlement solutions to enhance product sales outside mainland China, indicating a strategic shift towards digital payment methods [1] Group 1: Company Initiatives - The company has opened an account with an independent third-party service provider specializing in digital payment solutions involving both fiat currency and stablecoin [1] - The integration of virtual assets is seen as a significant business opportunity, reflecting the growing acceptance of cryptocurrencies in the global business community [1] Group 2: Market Demand - The company serves numerous cross-border e-commerce and overseas offline store clients, who have a continuous demand for local payment and cross-border settlement solutions [1] - The adoption of stablecoin payment methods is expected to enhance payment efficiency and reduce costs, better meeting the needs of cross-border e-commerce clients [1] - This payment method is anticipated to help mitigate exchange rate risks faced by the company when transacting with clients outside mainland China [1]

Group 1 - The Hang Seng Index rose by 1.53%, gaining 398 points to reach 26,484 points, while the Hang Seng Tech Index increased by 2.18% with a morning trading volume of 184.9 billion HKD [1] - Zai Lab's stock surged over 55%, with a three-month increase exceeding 800%, and its market capitalization surpassed 66 billion HKD following the approval of a Phase II trial for its drug [1] - Cloud computing stocks continued to rise, driven by Oracle's substantial computing orders and North American cloud providers increasing capital expenditure budgets, with GDS Holdings up 16% and Alibaba rising by 5.93% [1] Group 2 - Domestic property stocks saw gains as first-tier cities introduced new real estate policies, which are expected to stimulate market demand, with China Overseas Land up 16% and Country Garden rising by 9.68% [1] - China Hongqiao's stock increased by over 6% due to strong expectations of interest rate cuts benefiting aluminum prices, with the company's equity capacity expected to enhance profits [1] - Tianyue Advanced's stock rose over 10%, with institutions optimistic about the potential applications of silicon carbide materials in high-end computing chips [1] Group 3 - Bilibili's stock increased by 3% as the testing date for its new game was set for October, with institutions optimistic about the company's growth potential supported by AI [1] - China Shipbuilding Defense's stock rose over 5% amid ongoing supply-demand tensions in the shipbuilding industry, with attention on the group's progress in addressing competition [1] Group 4 - Juxing Legend's stock surged over 15% as it prepares to unveil its "Juxing Dog" in collaboration with Yushu Technology this weekend [2] - Nocoda Technology's stock soared over 39% after signing a cooperation agreement with Alpha AI for low-altitude economic intelligent drones [3] - Ark Health's stock rose over 13% following a strategic partnership with Innovent Biologics to develop services in the "AI + weight loss" sector [3]

Core Viewpoint - Hutchison China MediTech Limited (和黄医药) shares rose over 7%, reaching HKD 26.96 with a trading volume of HKD 352 million, following the announcement of a conference in Shanghai to share R&D progress [1] Group 1: Company Developments - The company will hold a conference on October 31, 2025, in Shanghai to discuss its latest R&D advancements, which will be live-streamed [1] - Dr. Shi Ming, the Executive Vice President and Chief Medical Officer, will present the company's R&D strategy and vision, focusing on the antibody-drug conjugate (ATTC) platform and its first candidate drug HMPL-A251 [1] Group 2: Future Milestones - According to Guotou Securities, several upcoming milestones for the company are noteworthy, with ATTC platform candidates set to enter clinical development soon [1] - The company plans to complete patient recruitment for the SAFFRON III Phase study of Savolitinib in the second half of 2025, with data expected in the first half of 2026 [1] - The SANOVO China Phase III study patient recruitment is also expected to be completed in the second half of 2025 [1] - The company intends to resubmit the new drug application for Solitomab based on the ESLIM-01 study to the National Medical Products Administration in the first half of 2026 [1] - The first ATTC candidate drug is anticipated to initiate clinical trials in China and globally around the end of 2025 [1]

Core Viewpoint - 361 Degrees is exploring the use of stablecoin payment and settlement solutions for product sales outside mainland China, aiming to enhance payment efficiency and reduce costs for cross-border e-commerce clients [1] Group 1: Company Initiatives - The company has opened an account with an independent third-party service provider specializing in fiat and stablecoin digital payment solutions [1] - The integration of virtual assets is expected to create significant business opportunities for the company [1] Group 2: Market Context - There is an increasing acceptance of cryptocurrencies in the global business community [1] - The company serves numerous cross-border e-commerce and overseas offline store clients who have ongoing needs for local payments and cross-border settlements [1] Group 3: Expected Benefits - The adoption of stablecoin payment methods is anticipated to improve payment efficiency and lower costs, better meeting the needs of cross-border e-commerce clients [1] - This payment method is also expected to help reduce the exchange rate risks faced by the company when transacting with clients outside mainland China [1]

智通财经APP获悉，和誉-B(02256)早盘涨超6%，截至发稿，涨4.92%，报17.93港元，成交额3907.14万 港元。 中金发布研报称，ABSK043 是公司具备全球权益的潜力口服小分子PD-L1 抑制剂。该行认为，公司持 续布局的口服+口服联用方案相较注射+口服联用有望具备更好的患者依从性和安全谱，后续临床进展 值得关注。此外，公司被纳入MSCI全球小盘股指数成分股，有望提升公司的全球资金关注度，或对流 动性产生积极影响。 消息面上，和誉近日宣布，在研口服PD-L1 抑制剂ABSK043 和艾力斯的KRAS G12C抑制剂戈来雷塞片 联用治疗KRAS G12C突变的NSCLC的IND申请在中国获得批准，意味着ABSK043 联用戈来雷塞进入二 期临床。此外，近日公司被纳入MSCI全球小盘股指数成分股。 ...

智通财经APP获悉，9月2日至5日，联合国教科文组织(UNESCO)的年度旗舰活动——2025数字学习周，在巴黎总部举办。今年的主题是"人工智能与教育 的未来"。网龙(00777)受邀参与了本届学习周的开幕式、平行会议等一系列重要环节，并作为唯一的企业代表，和来自不同国家的30多位部长级教育官员 共同出席圆桌会议。 这是今年网龙第五次出席联合国总部及其下属机构组织的重要活动。目前，网龙的国际合作成果已覆盖政策对话、平台建设、资源共创、人才培养等多元 维度。 梁念坚博士与其数字人协作发表讲话 网龙副董事长梁念坚博士在开幕式主论坛上发言，他指出：教育的未来必将是打破学术疆域与国家边界的协同共创——而技术将赋能这一进程。 唯一获邀参与部长级会议的企业 网龙受邀参与了本届学习周的一系列重要环节，并作为唯一的企业代表，与英国教育部部长Stephen Morgan、印度教育部部长 Dharmendra Pradhan、马来 西亚教育部部长 Fadhlina Sidek、泰国教育部部长 Narumon Pinyosinwat、智利教育部部长 Nicolás Cataldo、卢森堡教育部部长 Claude Meisch，以及 ...

Core Viewpoint - Hutchison China MediTech Limited (和黄医药) shares rose over 7%, reaching HKD 26.96 with a trading volume of HKD 352 million, following the announcement of a conference in Shanghai to discuss its latest R&D progress [1] Group 1: Company Developments - The company will hold a conference on October 31, 2025, in Shanghai to share its R&D strategies and vision, including an overview of its Antibody-Drug Conjugate (ATTC) platform and its first candidate drug HMPL-A251 [1] - The company’s Executive Vice President and Chief Medical Officer, Dr. Shi Ming, will present during the event [1] Group 2: Clinical Development Milestones - Multiple upcoming milestones for the company are anticipated, with ATTC platform candidate drugs set to enter clinical development soon [1] - The company plans to complete patient recruitment for the SAFFRON III Phase study of Savolitinib by the second half of 2025, with data expected in the first half of 2026 [1] - The SANOVO China Phase III study patient recruitment is also expected to be completed in the second half of 2025 [1] - The company intends to resubmit the new drug application for Solitomab based on the ESLIM-01 study in the first half of 2026 [1] - The first ATTC candidate drug is projected to initiate clinical trials in China and globally around the end of 2025 [1]

和誉-B(02256)早盘涨超6%，截至发稿，涨4.92%，报17.93港元，成交额3907.14万港元。 消息面上，和誉近日宣布，在研口服PD-L1抑制剂ABSK043和艾力斯的KRAS G12C抑制剂戈来雷塞片 联用治疗KRAS G12C突变的NSCLC的IND申请在中国获得批准，意味着ABSK043联用戈来雷塞进入二 期临床。此外，近日公司被纳入MSCI全球小盘股指数成分股。 中金发布研报称，ABSK043是公司具备全球权益的潜力口服小分子PD-L1抑制剂。该行认为，公司持续 布局的口服+口服联用方案相较注射+口服联用有望具备更好的患者依从性和安全谱，后续临床进展值 得关注。此外，公司被纳入MSCI全球小盘股指数成分股，有望提升公司的全球资金关注度，或对流动 性产生积极影响。 ...