Core Viewpoint - The stock price of Ascentage Pharma-B (06855) has reached a new high of HKD 95.35, marking a year-to-date increase of 100.88% [1][3] Group 1: Stock Performance and Market Context - Ascentage Pharma's stock performance reflects the current bull market for innovative drugs in Hong Kong, with significant room for further growth despite recent technical fluctuations [3] - The current bull market is driven more by the companies' fundamentals rather than policy changes, emphasizing "hardcore innovation, global monetization, and performance validation" as key investment criteria [3][4] Group 2: Financial Performance and Product Pipeline - Ascentage Pharma reported a revenue of RMB 234 million for the first half of 2025, with its core product, Olverembatinib (耐立克), generating sales of RMB 217 million, a year-on-year increase of approximately 93% [4] - The company has over RMB 3 billion in cash reserves, indicating strong cash flow and financial health [4] - The successful commercialization of Olverembatinib and the recent approval of the new drug, Lisatoclax (利生妥), are expected to replicate the success of Olverembatinib [4][5] Group 3: Clinical Development and Market Potential - Lisatoclax is the first domestically approved Bcl-2 inhibitor in China and has shown promising clinical data, indicating its potential in treating various hematological malignancies [5][6] - The global market for blood malignancy treatment drugs is projected to reach USD 40 billion by 2024, with a CAGR of 6% from 2024 to 2029, highlighting the unmet demand for Bcl-2 inhibitors [6] - Lisatoclax is expected to achieve sales exceeding USD 2 billion after global commercialization, alongside Olverembatinib, contributing significantly to Ascentage Pharma's revenue [6] Group 4: R&D and Innovation Strategy - Ascentage Pharma's R&D investment reached RMB 529 million in the first half of the year, supporting its innovative pipeline [7] - The company is advancing its research on Olverembatinib and Lisatoclax, with both drugs included in the 2025 Chinese Clinical Oncology Society guidelines [8] - Recent clinical trials for both drugs have shown promising results, further validating their therapeutic potential and safety [8] Group 5: Corporate Strategy and Management - The appointment of experienced executives is expected to enhance Ascentage Pharma's global commercialization efforts and financial management [9] - The company plans to raise approximately HKD 1.509 billion through a share placement to support commercialization and global clinical development [9] - The overall market sentiment is positive, with expectations of increased capital inflow into the pharmaceutical innovation sector due to favorable macroeconomic conditions [10]

Core Insights - The company achieved significant milestones in product commercialization, clinical development, and international expansion under its "Global Innovation" strategy, reporting a revenue of 234 million RMB for the first half of 2025, with sales of Nairike® reaching 217 million RMB, a 93% year-on-year increase due to its inclusion in the medical insurance coverage for all approved indications [1][2] Financial Performance - The company reported a total revenue of 234 million RMB for the reporting period, with Nairike® sales contributing 217 million RMB, reflecting a 93% increase year-on-year [1] - The company has over 3 billion RMB in cash and cash equivalents, indicating improved cash flow [2] Product Development - Nairike® is currently involved in three global Phase III clinical trials, with one trial approved by the FDA, targeting Chronic Myeloid Leukemia (CML), Philadelphia chromosome-positive Acute Lymphoblastic Leukemia (Ph+ ALL), and SDH-deficient Gastrointestinal Stromal Tumors (GIST) [2] - The company is advancing its other key product, Lisengtuo®, which received NMPA approval in July 2025, marking it as China's first domestically approved Bcl-2 inhibitor [3] Strategic Initiatives - The launch of Lisengtuo® signifies the company's entry into a dual-engine growth phase, with plans to enhance its commercialization system to maximize product synergy [3] - The company is exploring Lisengtuo®'s potential in treating CLL/SLL, AML, MDS, and multiple myeloma (MM), with four global Phase III clinical trials currently underway, two of which have received FDA approval [3]

Core Viewpoint - The continuous rise in the stock price of Ascentage Pharma is a clear representation of the current bull market for innovative drugs in Hong Kong, with significant room for further growth despite recent technical fluctuations [1] Group 1: Company Performance - Ascentage Pharma reported a revenue of RMB 234 million for the first half of 2025, with sales from its core product, Olverembatin (耐立克®), reaching RMB 217 million, a year-on-year increase of approximately 93% [2] - The company has over RMB 3 billion in cash reserves, indicating strong cash flow and financial health [2] - The stock price of Ascentage Pharma reached a new high of HKD 95.35, marking a year-to-date increase of 100.88% [4] Group 2: Product Development and Market Potential - The newly approved drug, Lisatoclax (利生妥®), is expected to replicate the success of Olverembatin, having been the first domestic BCL-2 inhibitor approved in China [3][5] - The global market for blood malignancy treatment drugs is projected to reach USD 40 billion by 2024, with a CAGR of 6% from 2024 to 2029, indicating a substantial unmet demand for BCL-2 inhibitors [6] - Lisatoclax is anticipated to achieve over USD 2 billion in sales after global commercialization, supported by its potential to overcome resistance seen with existing treatments [6] Group 3: Research and Development - Ascentage Pharma's R&D investment reached RMB 529 million in the first half of the year, supporting its innovative pipeline which includes Olverembatin and Lisatoclax, both of which have billion-dollar potential [7] - The company is accelerating differentiated innovation, with ongoing clinical trials and research presented at major international conferences [8] Group 4: Strategic Management and Financing - The recent appointment of experienced executives and a planned share placement to raise approximately HKD 1.509 billion for commercialization and global clinical development indicate a strategic push towards international expansion [9] - The market's positive response to Ascentage Pharma's fundamentals and growth potential suggests an increasing valuation ceiling for the company [10]

Core Viewpoint - Asiasoft Pharmaceuticals (NASDAQ: AAPG; HKEX: 6855) reported strong financial performance for the first half of 2025, driven by significant sales growth of its innovative drugs, particularly the launch of its new product, Lisengto® [1][2]. Financial Performance - The company generated revenue of 234 million RMB in the reporting period, with sales of Nairike® (Orebatin) reaching 217 million RMB, representing a 93% year-on-year increase due to its inclusion in the medical insurance coverage [1]. - The company's cash flow has improved, with total cash exceeding 3 billion RMB as of the current date [1]. Product Development and Approval - Lisengto® (Lisatrakra) received approval from the National Medical Products Administration (NMPA) on July 10, 2025, for the treatment of adult patients with chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) who have undergone at least one systemic therapy, marking it as the first domestically approved original Bcl-2 inhibitor [1][2]. - The company is actively exploring the therapeutic potential of Lisengto® in CLL/SLL, acute myeloid leukemia (AML), myelodysplastic syndromes (MDS), and multiple myeloma (MM), with four global Phase III clinical trials currently underway, two of which have received FDA approval [3]. Commercialization Strategy - Following the approval of Lisengto®, the company has signed cooperation agreements with major pharmaceutical distribution companies to accelerate its commercialization efforts, achieving rapid prescription issuance in over 30 cities and 40 hospitals within 15 days [2]. - The launch of Lisengto® signifies the company's transition into a dual-engine growth phase, enhancing its commercial framework to maximize product synergy [2]. International Development - Asiasoft Pharmaceuticals became the first biopharmaceutical company to list on both the Hong Kong and NASDAQ stock exchanges, which supports its international development and provides financial backing for the commercialization strategies of Lisengto® and Nairike® [3].

Core Insights - Ascentage Pharma reported strong business momentum in the first half of 2025, with a 93% year-over-year growth in Olverembatinib sales to $30.3 million, driven by expanded NRDL coverage in China [2][6][7] - The approval of Lisaftoclax in July 2025 marks a significant milestone as the first Bcl-2 inhibitor approved for CLL/SLL treatment in China, with commercial sales commencing shortly after [2][13] - The company has a robust pipeline with nine registrational clinical trials ongoing, including three cleared by the FDA, demonstrating its commitment to innovative cancer therapies [2][3] Financial Performance - Total revenue for the six months ended June 30, 2025, was $32.6 million, a decrease of 71.6% compared to $113.4 million in the same period of 2024, primarily due to the absence of intellectual property revenue recorded in 2024 [12] - Product sales of Olverembatinib increased by 92.5% on a constant currency basis, contributing significantly to the overall revenue [12] - The company reported a loss of $82.5 million for the first half of 2025, compared to a profit of $22.4 million in the same period of 2024, with a loss per share of $0.24 [19] Commercial and Clinical Developments - Olverembatinib is the first third-generation BCR-ABL1 TKI approved in China for CML treatment, with ongoing evaluations for additional indications [3][28] - Lisaftoclax is being evaluated in multiple registrational Phase III trials for various hematologic malignancies, including CLL/SLL and AML [9][29] - The company completed a financing round in July 2025, raising $190.1 million in net proceeds, enhancing its financial position to support commercialization and development efforts [2][21] Operational Metrics - The number of pharmacies and hospitals where Olverembatinib is available increased by 17% to 782, with a notable 47% increase in hospitals to 295 as of June 30, 2025 [7] - Selling and distribution expenses rose by 53.7% to $19.2 million, reflecting increased commercialization efforts for Olverembatinib and preparations for Lisaftoclax [14] - Research and development expenses increased by 19.0% to $73.8 million, driven by ongoing global clinical trials [15]

Group 1 - The company achieved revenue of RMB 234 million for the six months ending June 30, 2025 [1] - Sales of Nairik® (Orebatebine) in China increased by RMB 105 million or 93% to RMB 217 million in the first half of 2025, compared to RMB 113 million for the six months ending June 30, 2024 [1]

Group 1 - The company reported revenue of RMB 234 million for the six months ending June 30, 2025, with a significant increase in sales of its core product, Olverembatin (耐立克®), which rose by RMB 105 million or 93% to RMB 217 million compared to the same period in 2024 [1] - Research and development expenses increased by RMB 84.5 million or 19.0% to RMB 529 million, primarily due to increased external R&D costs associated with ongoing global clinical trials [1] Group 2 - The company's core products, Olverembatin and Lisatoclax, are developed to treat various major hematologic malignancies and solid tumors, with a projected market size exceeding USD 160 billion for these specific blood system diseases by 2035 [2] - The company has established a strong global intellectual property portfolio, holding a total of 478 authorized patents, including over 20 new patents granted during the reporting period [2] - The company has formed collaborations with leading biotechnology and pharmaceutical companies, including partnerships with Innovent Biologics and clinical collaboration agreements with AstraZeneca, Merck, and Pfizer [3]

Group 1 - The company reported revenue of RMB 234 million for the six months ending June 30, 2025, with a significant increase in sales of its product, Olverembatin (耐立克), which rose by RMB 105 million or 93% to RMB 217 million compared to the same period in 2024 [1] - Research and development expenses increased by RMB 84.5 million or 19.0% to RMB 529 million, primarily due to increased external R&D costs associated with ongoing global clinical trials [1] Group 2 - The company's core products, Olverembatin and Lisatoclax, are developed to treat various major hematologic malignancies and solid tumors, with a projected market size exceeding USD 160 billion for these specific blood system diseases by 2035 [2] - The company has established collaborations with leading biotechnology and pharmaceutical companies, including partnerships with Innovent Biologics and clinical collaboration agreements with AstraZeneca, Merck, and Pfizer [3] - The company has also formed research collaborations with prominent research institutions such as Dana-Farber Cancer Institute, Mayo Clinic, MD Anderson Cancer Center, National Cancer Institute, and the University of Michigan [3]

Group 1 - The company reported revenue of RMB 234 million for the six months ending June 30, 2025, with a significant increase in sales of its product, Olverembatin (耐立克), which rose by RMB 105 million or 93% to RMB 217 million compared to the same period in 2024 [1] - Research and development expenses increased by RMB 84.5 million or 19.0% to RMB 529 million, primarily due to increased external R&D costs associated with ongoing global clinical trials [1] Group 2 - The company's core products, Olverembatin and Lisatoclax, are developed to treat various major hematologic malignancies and solid tumors, with a projected market size exceeding USD 160 billion for these specific blood system diseases by 2035 [2] - The company has established a strong global intellectual property portfolio, holding a total of 478 authorized patents, including over 20 new patents granted during the reporting period [2] - The company has formed collaborations with leading biotechnology and pharmaceutical companies, including partnerships with Innovent Biologics and clinical collaboration agreements with AstraZeneca, Merck, and Pfizer [3]

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的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 ASCENTAGE PHARMA GROUP INTERNATIONAL 亞盛醫藥集團 （在開曼群島註冊成立的有限公司） （股份代號：6855） 截至2025年6月30日止六個月未經審核中期業績公告 董事會欣然宣佈亞盛醫藥集團截至2025年6月30日止六個月的未經審核綜合業 績，連同截至2024年6月30日止六個月的比較數字。 財務摘要 截至2025年6月30日止六個月，收益為人民幣233.7百萬元（32.6百萬美元）， 較截至2024年6月30日止六個月減少人民幣590.0百萬元（80.7百萬美元）或 71.6%，主要是由於截至2024年6月30日止六個月產生的人民幣678.4百萬元 （95.3百萬美元）的知識產權收益導致。耐立克® （奧雷巴替尼）在中國的產品銷售 較截至2024年6月30日止六個月的人民幣112.9百萬元（15.5百萬美元），增加人 民幣104.5百萬元（14.9百萬美元）或93%至 ...