Core Viewpoint - Hutchison China MediTech Limited (HCM) is set to present preclinical data for HMPL-A251, a novel PI3K/AKT/mTOR (PAM)-HER2 antibody-drug conjugate (ATTC), at the AACR-NCI-EORTC International Conference on Molecular Targeted Therapy and Cancer Therapeutics in Boston from October 22 to 26, 2025 [1] Group 1: Product Overview - HMPL-A251 is designed to combine HER2-targeted therapy with PAM pathway inhibition, aiming to overcome the limitations of traditional antibody-drug conjugates (ADCs) and single PAM inhibitors [1] - The drug utilizes a highly selective and potent PI3K/PIKK inhibitor as the payload, conjugated to a humanized anti-HER2 IgG1 antibody via a cleavable linker [1] Group 2: Preclinical Efficacy - In vitro studies show that the PI3K/PIKK inhibitor payload exhibits strong, selective, and broad anti-tumor activity across 130 tumor cell lines [2] - HMPL-A251 demonstrates HER2-dependent anti-tumor activity, effectively inhibiting the growth of HER2-positive tumor cells regardless of PAM pathway alterations [2] - The compound also shows a bystander effect on HER2-negative cells when co-cultured with HER2-positive cells [2] Group 3: Safety and Efficacy - The ATTC design emphasizes the precise delivery of regulatory pathway-modulating payloads to tumor tissues, enhancing long-term safety compared to traditional cytotoxic ADCs [3] - HMPL-A251 outperforms naked antibodies and payload combination therapies in anti-tumor efficacy and tolerability in vivo [3] - The drug induces tumor regression in various models with a single intravenous injection, showing efficacy correlated with payload concentration and target inhibition [3] Group 4: Future Development Plans - HCM plans to initiate global clinical trials for HMPL-A251 by the end of 2025 and submit multiple global new drug clinical trial applications for other ATTC candidates in 2026 [4] - The ATTC platform represents a new generation of precision cancer therapies, combining monoclonal antibodies with proprietary targeted small molecule inhibitors for enhanced anti-tumor activity and safety [4][5]

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 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。 HUTCHMED (China) Limited 和黃醫藥（中國）有限公司 和黃醫藥於AACR-NCI-EORTC分子靶向和癌症治療國際會議上公佈HMPL-A251數據 — 首個利用和黃醫藥ATTC技術平台打造的研究性候選藥物，搭載強效的靶向有效載荷並降低相關毒性 — ― 獨特的強效PI3K/PIKK抑制劑有效載荷，經過優化可充分發揮抗體偶聯物的優勢， 具有定向遞送及游離有效載荷血漿暴露量低的特點 — ― 臨床前數據顯示其具有強大的抗腫瘤活性，並具有協同作用和旁觀者殺傷效應 — （於開曼群島註冊成立的有限公司） （股份代號：13） 自願性公告 和黃醫藥（中國）有限公司（簡稱「和黃醫藥」或 「HUTCHMED」）於2025年10月22至26日在美國波士頓舉行的 AACR-NCI-EORTC分子靶向和癌症治療國際會議上公佈HMPL-A251的臨床前數據。HMPL-A251是一款全球首創的 PI3K/AKT/m ...

Core Insights - Coca-Cola China has successfully launched two new factories in Shaanxi and Henan, along with the completion of the main structure of the Greater Bay Area smart green production base, as part of its strategic investment to enhance its supply chain resilience and agility in the Chinese market [2][3]. Group 1: Strategic Expansion - The new factories in the western and central regions represent a significant step in Coca-Cola China's strategic layout, aiming to strengthen the regional supply chain network and respond better to market changes [3]. - The Shaanxi factory is designed as a core hub in the west, featuring seven beverage production lines and one syrup production line, which will significantly enhance market supply capacity and service efficiency in the region [2]. - The Henan factory, with an annual production capacity exceeding 1 million tons, is the first world-class factory to emerge from Swire Coca-Cola's 12 billion yuan investment commitment in China [2]. Group 2: Technological and Environmental Initiatives - The Shaanxi factory incorporates multiple digital production lines and advanced management tools, utilizing an intelligent supply chain system that integrates AI technology for comprehensive process optimization [2]. - The Henan factory includes over 30 energy-saving and carbon reduction initiatives, such as a smart hot water center that reduces steam usage by over 60% and solar power generation for clean energy supply [2]. Group 3: Market Position and Competition - Coca-Cola maintains a strong market presence, holding approximately 90% of the market share alongside Pepsi, while facing competition from local brands like Beibingyang and Yuanqi Forest, which are gaining traction in niche markets [4][5]. - The company is adapting to the competitive landscape by enhancing its supply chain resilience and focusing on green production capabilities, aligning with the dual carbon policy and evolving consumer demands [5]. - Coca-Cola's recent investments and upgrades across five production bases over the past three years are aimed at consolidating its market share in China and addressing the growing health-conscious and diversified consumer preferences [5].

董事名單及其角色與職能 和黃醫藥(中國)有限公司董事會由 10 名董事組成，載列如下： 主席兼非執行董事 Dr Dan Eldar（艾樂德博士） 執行董事 蘇慰國博士 （首席執行官* 兼首席科學官） 鄭澤鋒先生 （代理首席執行官兼首席財務官） 非執行董事 HUTCHMED (China) Limited 和黃醫藥（中國）有限公司 （於開曼群島註冊成立的有限公司） （股份代號：13） 莫樹錦教授 （高級兼首席獨立非執行董事） Dr Renu BHATIA（言思雅醫生） Dr Chaohong HU（胡朝紅博士） 陳邵文教授 黃德偉先生 下表提供董事會成員在委員會中之職務。 | 董事委員會 | 審核委員會 | 提名委員會 | 薪酬委員會 | 可持續發展 | 技術委員會 | | --- | --- | --- | --- | --- | --- | | 董事 | | | | 委員會 | | | 艾樂德 | - | M | - | - | M | | 蘇慰國 | - | - | - | - | M | | 鄭澤鋒 | - | - | - | M | - | | 施熙德 | - | - | M | C | - | | ...

Core Viewpoint - Hutchison China MediTech Limited (00013.HK) announced the appointment of Chen Shaowen as an independent non-executive director and a member of the Technical Committee, effective from October 15, 2025 [1] Group 1 - The appointment of Chen Shaowen is aimed at enhancing the governance and technical expertise within the company [1]

Core Viewpoint - The announcement by Hutchison China MediTech Limited (和黄医药) regarding the appointment of Professor Chen Shaowen as an independent non-executive director and a member of the technical committee, effective from October 15, 2025 [1] Group 1 - Professor Chen Shaowen has been appointed to enhance the company's governance and technical expertise [1]

Core Points - Professor Chen Shaowen has been appointed as an independent non-executive director and a member of the technical committee of Hutchison China MediTech Limited, effective from October 15, 2025 [1]

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 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。 HUTCHMED (China) Limited 和黃醫藥（中國）有限公司 （於開曼群島註冊成立的有限公司） （股份代號：13） 和黃醫藥宣佈委任獨立非執行董事及董事委員會成員 和黃醫藥（中國）有限公司（簡稱「和黃醫藥」或「本公司」）今天宣佈，陳邵文教授獲委任為本公司獨立非執行 董事及技術委員會成員，自2025年10月15日起生效。 陳教授，47歲，在腫瘤學擁有超過20年經驗，主要研究領域針對胸腔、頭頸部惡性腫瘤及藥物開發。他目前擔任新 加坡國家癌症中心（「NCCS」）臨床試驗與流行病學科學部主管，並為醫學腫瘤科的高級顧問。他是杜克－新加坡 國立大學醫學院教授，並擔任新加坡基因組研究院高級臨床科學家。 和黃醫藥主席艾樂德博士表示：「本人謹代表董事會熱烈歡迎陳教授。陳教授在新型療法早期臨床試驗方面的往績 卓越 ，而我們相信，他在標靶治療、生物標記開發及臨床腫瘤學方面的專業知識，將大力支持本公司的策略增長， ...

Company News - Yuanshan Group (00551.HK) reported a cumulative operating income of approximately $6.017 billion for the first nine months, a decrease of 1% year-on-year [2] - Baoshan International (03813.HK) recorded a cumulative operating income of 12.903 billion yuan for the first nine months, down 7.7% year-on-year [2] - Longyuan Power (00916.HK) achieved a cumulative power generation of 56,546,706 MWh in the first nine months, a decline of 0.53% year-on-year; excluding the impact of thermal power, there was a year-on-year increase of 13.81%, with wind power up 5.30% and solar power up 77.98% [2] Financial Performance - Qinhuangdao Port Co., Ltd. (03369.HK) reported a total throughput of 317 million tons for the first nine months, an increase of 5.56% year-on-year [3] - New China Life Insurance (01336.HK) expects net profit attributable to shareholders for the first three quarters to be between 29.986 billion yuan and 34.122 billion yuan, representing a year-on-year growth of 45% to 65% [3] - Jiangshan Holdings (00295.HK) reported a total power generation of approximately 238,787 MWh for the first nine months, a decrease of 4.83% year-on-year [3] - Morning News Technology (02000.HK) reported an unaudited revenue of 270 million HKD for the first nine months, down 7.6% year-on-year [3] - Dekang Agriculture and Animal Husbandry (02419.HK) sold approximately 7.5509 million pigs in the first nine months, with sales revenue of approximately 14.277 billion yuan [3] Drug Approvals and Developments - Hengrui Medicine (01276.HK) received a clinical trial approval notice for SHR-A2102, a targeted Nectin-4 antibody-drug conjugate (ADC) developed in-house; global sales for similar products are expected to reach approximately $1.949 billion in 2024 according to EvaluatePharma [3] - Hutchison China MediTech (00013.HK) plans to announce FRUSICA-2 registration study data at the 2025 European Society for Medical Oncology annual meeting [3] - CSPC Pharmaceutical Group (01093.HK) had its new drug application for Idaglutide α injection accepted by the National Medical Products Administration [3] Corporate Actions - Huazhen Medical (01931.HK) announced the acquisition of U.S. properties and the establishment of a U.S. subsidiary, ETHK BANK, to promote stablecoins and intellectual property securitization in the U.S. [3] - Lihigh Holdings (08472.HK) plans to invest 24 million HKD in cryptocurrency and commodities [3] - Hisense Home Appliances (00921.HK) and its subsidiaries subscribed to a financial product from Jingu Trust worth 1.739 billion HKD [3] Real Estate Performance - New Town Development (01030.HK) reported cumulative contract sales of 15.050 billion yuan for the first nine months, a decrease of 52.72% year-on-year [3] - Longfor Group (00960.HK) achieved total contract sales of 50.75 billion yuan in the first nine months [3] - CIFI Holdings Group (00884.HK) reported cumulative contract sales of approximately 13.06 billion yuan for the first nine months [3] - Ronshine China Holdings (03301.HK) reported contract sales of 3 billion yuan for the first nine months, down 45.3% year-on-year [3] - Yuzhou Group (01628.HK) reported cumulative sales of 4.913 billion yuan for the first nine months [3] - Yida China (03639.HK) reported contract sales of approximately 572 million yuan for the first nine months, down 24.74% year-on-year [3] Financing and Buyback Activities - Geely Automobile (00175.HK) was approved to issue debt financing instruments totaling no more than 10 billion yuan [3] - HSBC Holdings (00005.HK) repurchased 1.58 million HKD worth of shares at prices ranging from 102.2 to 103.77 HKD [3] - Xiaomi Group-W (01810.HK) repurchased 400 million HKD worth of shares at prices ranging from 47.82 to 50.55 HKD [3] - Shoucheng Holdings (00697.HK) repurchased 890 million HKD worth of shares at prices ranging from 2.21 to 2.27 HKD [3]

Core Insights - BASF has entered into a binding agreement with Carlyle Group and Qatar Investment Authority (QIA) to acquire BASF's automotive coatings, repair paints, and surface treatment business for an enterprise value of €7.7 billion (approximately ¥60 billion) [3][4] - This acquisition is part of BASF's strategy to enhance profitability and streamline operations, following the sale of its Brazilian decorative coatings business for $1.15 billion earlier this year [4][5] - The overall valuation of BASF's coatings division, after this transaction and the completed decorative coatings divestiture, is estimated at €9.7 billion, with an enterprise value multiple of approximately 13 times [5] Group 1: Acquisition Details - The acquisition involves BASF's coatings business, which has a projected sales revenue of approximately €3.8 billion in 2024, covering markets in Europe, North America, South America, and Asia-Pacific [4] - Carlyle Group, established in 1987, manages $465 billion in assets and has invested over $10 billion in China since entering the market in 1998 [4][12] - The deal is expected to close in the second quarter of 2026, pending regulatory approvals, with BASF retaining a 40% stake in the coatings business and receiving approximately €5.8 billion in pre-tax cash proceeds upon completion [5] Group 2: Market Context - The acquisition is seen as a significant move in the context of increasing competition and changing market demands within the coatings industry [4][12] - Carlyle's strategy aligns with a broader trend among private equity firms to seek opportunities for acquiring undervalued assets, particularly in the current market environment [13][14] - The private equity market is experiencing a shift, with fewer public companies and an increase in private firms, creating a favorable landscape for strategic acquisitions [13]