Core Viewpoint - The recent Nipah virus outbreak in India has led to increased attention and investment in the A-share pharmaceutical sector, with significant capital inflows into medical ETFs despite some declines in stock prices [1][3]. Group 1: Market Activity - The medical ETF (159929) experienced a drop of over 1% today, following a previous day of gains, but attracted 64 million yuan in capital [1]. - Over the past 10 days, the ETF has seen net inflows for 9 days, accumulating nearly 300 million yuan [1]. - Trading activity remains robust, with intraday trading volume exceeding 120 million yuan [1]. Group 2: Nipah Virus Research - The Nipah virus outbreak in West Bengal, India, has resulted in deaths and the isolation of close contacts [3]. - A significant research study published in the journal Emerging Microbes & Infections confirms that the oral nucleoside drug VV116 shows promising antiviral activity against the Nipah virus, providing new hope for treatment and prevention [3]. Group 3: Company Updates - Sanofi's (三生国健) 2025 annual performance forecast indicates a net profit of approximately 2.9 billion yuan, reflecting a year-on-year increase of 311.35%, driven by a collaboration with Pfizer [4]. - Junshi Biosciences (君实生物) has completed the issuance of its first phase of technology innovation bonds for 2026, totaling 1 billion yuan, aimed at supporting drug research and development [4]. Group 4: Sector Trends - The pharmaceutical industry is expected to benefit from a favorable investment environment and policy support, particularly for innovative drugs and technologies [6][8]. - The medical manufacturing sector has shown a slight increase in industrial value added, while revenue and profit have seen minor declines [7]. - The healthcare expenditure in China has shown a year-on-year growth of 4.7% for the first 11 months of 2025, marking a recovery after two years of decline [7]. Group 5: Investment Strategies - Investment strategies for 2026 focus on innovation, international expansion, and marginal improvements in the pharmaceutical sector [8][9]. - Key areas of interest include innovative drugs, medical devices, and the integration of new technologies such as AI and brain-machine interfaces [8][9].

消息面上，近日，印度西孟加拉邦暴发尼帕病毒疫情。可人传人，死亡率最高达75%，尚无疫苗。近期，中国科学院武汉病 毒研究所肖庚富/张磊砢研究员团队、单超研究员团队联合上海药物研究所、旺山旺水生物医药股份有限公司胡天文博士在 国际期刊Emerging Microbes & Infections上发表题为"The oral nucleoside drug VV116 is a promising candidate for treating Nipah virus infection"的重要研究成果，证实口服核苷类药物VV116对尼帕病毒具有显著的抗病毒活性，为这一高致死性新发传染 病的防治带来新希望。该成果首次证实VV116对尼帕病毒的治疗潜力，不仅可作为医护人员、实验室工作者等高危人群的 预防性用药，更可为应对当下和未来的尼帕病毒疫情提供了一个现成的药物选择。 1月27日，旺山旺水-B(2630.HK)盘中拉升涨近15%报112.7港元，股价创历史新高，市值升至逾189亿港元。 港股频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 据悉，口服核苷类药物VV116由中科院上海药物研究所、上海君实生物等单位 ...

每经AI快讯，君实生物(01877.HK)一度涨超5%，截至发稿涨4.55%，报24.84港元，成交额1.79亿港元。 ...

消息面上，君实生物发布公告称，公司已完成发行2026年度第一期科技创新债券，发行总额为人民币10 亿元，期限为3+2年，于2031年1月26日到期，发行利率为2.70%，募集资金预计将主要用于公司核心的 药物研发、科技创新及相关业务拓展，有助于进一步巩固其在生物医药领域的研发实力和市场竞争力， 符合其作为科技创新企业的战略发展需求。 君实生物(01877)再涨超5%，截至发稿，涨4.55%，报24.84港元，成交额1.79亿港元。 ...

消息面上，君实生物发布公告称，公司已完成发行2026年度第一期科技创新债券，发行总额为人民币10 亿元，期限为3+2年，于2031年1月26日到期，发行利率为2.70%，募集资金预计将主要用于公司核心的 药物研发、科技创新及相关业务拓展，有助于进一步巩固其在生物医药领域的研发实力和市场竞争力， 符合其作为科技创新企业的战略发展需求。 君实生物(01877)再涨超5%，截至发稿，涨4.55%，报24.84港元，成交额1.79亿港元。 ...

Core Viewpoint - The stock of Wangshan Wangshui-B (2630.HK) surged nearly 15% to reach a historical high of HKD 112.7, with a market capitalization exceeding HKD 18.9 billion, following the announcement of significant research on the oral nucleoside drug VV116 for treating Nipah virus infection [1][2]. Group 1: Company Developments - Wangshan Wangshui Biopharmaceutical Co., Ltd. has collaborated with researchers from the Wuhan Institute of Virology and the Shanghai Institute of Materia Medica to publish important findings on VV116, demonstrating its significant antiviral activity against the Nipah virus [1]. - The research indicates that VV116 could serve as a preventive medication for high-risk groups such as healthcare workers and laboratory personnel, providing a ready option for addressing current and future Nipah virus outbreaks [1]. Group 2: Product Information - The oral nucleoside drug VV116 was developed collaboratively by the Shanghai Institute of Materia Medica and Junshi Biosciences, with ownership held by Shanghai Wangshi Biopharmaceutical Technology Co., Ltd. and production entrusted to Shanghai Diseno Biopharmaceutical Co., Ltd. [2]. - Wangshi Biopharmaceutical is a joint subsidiary of Junshi Biosciences' subsidiary Shanghai Juntao Biopharmaceutical Technology Co., Ltd. and Suzhou Wangshan Wangshui Biopharmaceutical Co., Ltd. [2].

Summary of Key Points from Conference Call Records Company: Junshi Biosciences (君实生物) Industry: Biopharmaceuticals Core Insights and Arguments - **Discovery of VV116**: The Wuhan Institute of Virology published findings on January 26, indicating that VV116 exhibits high inhibitory activity against the Nipah virus, including strains NiV-M and NiV-B [1] - **Mechanism of Action**: VV116, a novel oral nucleoside antiviral drug, demonstrated significant suppression of the Nipah virus in both its active form and its metabolites [1] - **Efficacy in Animal Models**: In a lethal dose infection model using golden hamsters, VV116 administered at a dose of 400 mg/kg increased the survival rate of the experimental animals to 66.7% and significantly reduced viral loads in target organs such as the lungs, spleen, and brain [1] Additional Important Information - **Broad Pipeline**: Junshi Biosciences has a wide-ranging portfolio that includes antiviral drugs, small nucleic acids, bispecific antibodies, antibody-drug conjugates (ADC), cytokines, and vaccines [1] - **Underestimation of Company Value**: The company is considered severely undervalued, with projections indicating strong performance in 2025. This could lead to a positive feedback loop for the company [2] - **Accelerated Innovation Pipeline**: Junshi currently has over 50 products in development, with 5 products in Phase III clinical trials or registration stages (IL-17, subcutaneous Trelagliptin, PI3K, Claudin18.2 ADC, BTLA) and 5 products in Phase II clinical trials, nearing or entering Proof of Concept (PoC) stages (PD-1/VEGF, EGFR/HER3 ADC, SNA spherical small nucleic acids, DKK1 monoclonal antibody, CD20/CD3 bispecific antibody) [2] - **Potential for Global Expansion**: There is speculation that if Junshi can successfully enter international markets, it may become the next billion-dollar biopharmaceutical company [2]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 上海君实生物医药科技股份有限公司（以下简称"公司"）2024年年度股东大会审议通过了《关于发行境 内外债务融资工具的一般性授权的议案》，同意公司注册发行不超过人民币25亿元或等值外币的境内外 债务融资工具，并一般及无条件授权董事会并由董事会转授权董事长及其授权人士根据公司不时的需要 以及市场条件全权决定及办理债务融资工具发行的全部事宜，以及由董事会进一步授权董事长及其授权 人士根据公司需要以及其它市场条件等具体执行债务融资工具发行事宜，详见公司在2025年6月21日于 上海证券交易所网站（www.sse.com.cn）披露的《上海君实生物医药科技股份有限公司2024年年度股东 大会决议公告》（公告编号：临2025-035）。 公司本期科技创新债券发行相关文件详见中国货币网（www.chinamoney.com.cn）、上海清算所网站 （www.shclearing.com）和北京金融资产交易所网站（www.cfae.cn）等交易商协会认可的网站。 特此公告。 上海君实生物医药 ...

Market Overview - The market is currently focused on resilience rather than aggressive movements, with A-shares experiencing ETF sell-offs and the Hang Seng Index showing slight fluctuations, closing up 0.06% [1] - Tensions between the US and Iran are at a peak, with concerns over the Strait of Hormuz affecting oil prices, leading to significant gains for companies like China National Offshore Oil Corporation and China Petroleum [1] - Canadian Prime Minister's visit to China resulted in trade agreements, but US President Trump threatened tariffs on Canadian imports if trade agreements with China were pursued [1] Commodity Prices - International gold and silver prices have surged, with gold reaching a historical high of $5093.18 per ounce and silver surpassing $109 per ounce [2] - High-end gold consumption is increasing, with significant consumer interest noted in SKP stores during the Chinese New Year season [2] - Commodity trading companies like Nanhua Futures have benefited from these price increases, with notable stock price rises [2] Uranium Market - The uranium market is showing strength, with a trust fund planning to issue up to $2 billion in transferable trust shares, indicating a growing demand for uranium [3] - Companies like China General Nuclear Power Corporation have seen stock increases of around 10% due to this positive outlook [3] AI and Technology Sector - Tencent is focusing on AI investments, with plans to enhance its AI platform and engage in competitive activities in the AI application space [4] - Companies like Longi Green Energy and Xunlei have also seen stock increases due to their involvement in AI and data center businesses [3][4] Real Estate Market - Hong Kong real estate stocks are expected to see a price increase of 5% to 10% this year, with reports of a potential spin-off of telecommunications assets by CK Hutchison [5] - The domestic real estate market is showing resilience, with significant increases in second-hand home transactions in major cities [5] Health Sector - The emergence of the Nipah virus in India is expected to increase demand for antiviral medications, benefiting companies like Sihuan Pharmaceutical and CanSino Biologics [6][5] - CanSino is advancing its vaccine development for the Nipah virus, reflecting a proactive approach to emerging health threats [6] Coal Industry - A report indicates that coal supply policies may lead to significant reductions in production capacity, potentially improving coal prices in 2026 [7] - Major coal companies like China Shenhua Energy and Yanzhou Coal Mining are positioned to benefit from these changes in supply dynamics [8] Jewelry Market - Chow Tai Fook has reported strong sales growth, particularly in high-margin gold jewelry, with same-store sales in mainland China increasing by 21.4% [9][10] - The company is optimizing its store network and expanding into Southeast Asia, indicating a strategic approach to growth amid rising gold prices [10]

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，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 SHANGHAI JUNSHI BIOSCIENCES CO., LTD.* 上海君實生物醫藥科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1877） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條規則作出。 茲載列上海君實生物醫藥科技股份有限公司在上海證券交易所網站刊發之《上海 君實生物醫藥科技股份有限公司關於2026年度第一期科技創新債券發行結果的公 告》，僅供參閱。 承董事會命 上海君實生物醫藥科技股份有限公司 熊俊先生 主席 上海君实生物医药科技股份有限公司（以下简称"公司"）2024 年年度股东 大会审议通过了《关于发行境内外债务融资工具的一般性授权的议案》，同意公 司注册发行不超过人民币 25 亿元或等值外币的境内外债务融资工具，并一般及 无条件授权董事会并由董事会转授权董事长及其授权人士根据公司不时的需要 以及市场条件全权决定及办理 ...