Major Events - Lion Group (02562) collaborates with China Post Hong Kong to expand an AI-driven digital trade platform connecting China and Southeast Asia [1] - Hengrui Medicine (01276) receives approval for clinical trials of SHR-8068 injection [1] - Yuan Da Medicine (00512) launches the world's first nasal spray product OC-01 for dry eye treatment in mainland China [1] - China Resources Pharmaceutical (03320) plans to invest 245 million to establish a 1 billion Chengdu Pharmaceutical Innovation Fund [1] - China Power (02380) intends to invest approximately 310 million to acquire a 31% stake in Tori Power [1] - GCL-Poly Energy (03800) reaches a strategic cooperation with Taibao Asset Management Hong Kong for global issuance of RWA [1] - Beijing Energy International (00686) signs a trust agreement with Xingye International Trust [1] - China New Economy Investment (00080) receives a premium buyout offer from Cai Wensheng at approximately 19.10%, with resumption of trading on July 18 [1] - Gaoshi Medical (02407) obtains medical device registration certificate for corneal contact lens [1] - Tigermed (03347) plans to sell a 3.41% stake in Lixin Pharmaceutical for 34.11 million [1] Operating Performance - Datang Power (00991) reports a total electricity generation of approximately 123.9934 billion kWh in the first half, a year-on-year increase of about 1.30% [1] - Friendship Time (06820) expects mid-term revenue growth of approximately 14.1% to 23.6% [1] - Jiuxing Holdings (01836) reports a year-on-year revenue increase of approximately 0.7% to 775 million [1] - Yanzhou Coal Mining (01171) achieves a coal production of 73.6 million tons in the first half, a year-on-year growth of 6.54% [1] - October Rice Field (09676) issues a profit warning, expecting mid-term adjusted net profit to grow by no less than 90% year-on-year [1] - China Railway (00390) signs new contracts worth 1,108.69 billion in the first half, a year-on-year increase of 2.8% [1] - Luk Fook Holdings (00590) reports a 13% year-on-year growth in overall retail value and a 14% increase in retail revenue for the first quarter [1] - Dreamland (01119) issues a profit warning, expecting mid-term net profit of approximately 2 million to 5 million, turning from loss to profit year-on-year [1]

7月17日，港股创新药全天领涨，势如破竹，高纯度+高弹性标的港股通创新药ETF（520880）场内价格 一度涨近6%，收涨5.23%，全天成交额3.74亿元，环比放量超两倍，创历史天量！ 截至今日，港股通创新药ETF（520880）已连涨7日，标的指数区间累计上涨9.4%。 | | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | --- | | | 2157 | 乐普生物-B | | 6.370 | 1.260 | 24.66% | | 2 | 2162 | 康诺亚-B | | 57.250 | 7.250 | 14.50% | | 3 | 9926 | 康方生物 | | 139.500 | 13.500 | 10.71% | | 4 | 6160 | 百济神州 | | 183.300 | 17.600 | 10.62% | | 5 | 2096 | 先声药业 | | 11.940 | 1.040 | 9.54% | | 6 | 1530 | 三生制药 | | 30.600 | 2.650 | 9.48% | | 7 ...

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，並明確表示概不就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。 Grand Pharmaceutical Group Limited 遠大醫藥集團有限公司* ( 於百慕達註冊成立之有限公司 ) (股份代號: 00512) 補充公告 持續關連交易 商業合作協議 茲提述遠大醫藥集團有限公司（「本公司」）於2025年4月25日就商業合作協議項下擬進 行的持續關連交易刊發的公告（「該公告」）。除非另有定義，本公告中使用的詞彙與該 公告中的詞彙具有相同意義。 本公司謹就商業合作協議下擬進行的持續關連交易提供以下補充資料。 研發項目詳情 基於本集團與 Sirtex Group之間良好的合作關係，雙方均認可彼此在製藥業的優勢和 專業知識。雙方共同致力於創新，並尋求在開發不透射線產品方面探索潛在的合作機 會。因此，本集團與 Sirtex Group 簽署了《商業合作協議》，以促進雙方在醫藥產品研 發方面的合作。此類研發合作將涉及共享勞動力和實驗室、採購原材料和耗材、在必 要時採購研究 ...

Group 1: Company Developments - The company has received FDA approval for its innovative drug SIR-Spheres® for treating unresectable hepatocellular carcinoma (HCC) [1] - The company’s nasal spray product OC-01 for dry eye syndrome has been approved in mainland China and has begun commercial prescriptions [1][3] - OC-01 is the only nasal spray approved for treating dry eye syndrome in China, providing a new treatment option for patients [1] Group 2: Market Insights - The dry eye syndrome market in China is estimated to have around 360 million patients, with a prevalence rate of approximately 21.0% to 52.4% [3] - The overall dry eye syndrome market in China has a compound annual growth rate (CAGR) of 1.6% from 2017 to 2021, with moderate growth expected in the coming years [4] - The global dry eye syndrome market is projected to reach $25.48 billion in 2024, expanding at a CAGR of 3.4% to $33.26 billion by 2033 [6] Group 3: Product Advantages - OC-01 utilizes a nasal delivery method that enhances tear secretion and improves tear film stability, potentially increasing patient compliance compared to traditional eye drops [7] - The product has shown strong commercial potential, with over 97,000 prescriptions in the U.S. within its first year and approximately $42 million in sales revenue in 2023 [7] - The company has a comprehensive pipeline of innovative ophthalmic products, including treatments for various eye conditions, which are expected to contribute to future revenue growth [11][14] Group 4: Competitive Landscape - The ophthalmic drug market in China has grown from 15.1 billion RMB in 2016 to 18.8 billion RMB in 2020, with a projected market size of 44 billion RMB by 2025 [8] - The company is strategically positioned in the competitive ophthalmic market, focusing on innovative product development to maintain its leading position [10] - The company has established a professional marketing team and a nationwide distribution network to support its ophthalmic product sales [14]

Group 1 - The company has launched OC-01, a nasal spray for increasing tear secretion in dry eye patients, marking a significant milestone in the treatment of dry eye syndrome in China [1] - OC-01 is the first and only nasal spray approved for treating dry eye symptoms globally, having received approval in the US in October 2021 and in mainland China in November 2024 [1] - The product is expected to provide a new treatment option for dry eye patients in China, enhancing the company's position in the ophthalmic market [1] Group 2 - The company focuses on ophthalmology as a key strategic development direction, emphasizing innovation in ophthalmic drugs and enhancing market competitiveness [2] - A comprehensive product system has been established, with multiple innovative products targeting conditions such as myopia, dry eye syndrome, and post-operative inflammation [2] - The company is committed to advancing innovative products and technologies, aiming to meet unmet clinical needs and expand its product pipeline through a global operational strategy [2]

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，並明確表示概不就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。 自願性公告 本集團治療乾眼症的全球首創鼻噴產品 OC-01 正式獲批後 在中國大陸實現首批商業化處方落地 Grand Pharmaceutical Group Limited 遠大醫藥集團有限公司* ( 於百慕達註冊成立之有限公司 ) （股份代號: 00512） 本公告乃遠大醫藥集團有限公司(「本公司」，連同其附屬公司統稱「本集團」)之董事 會(「董事會」)自願刊發。 董事會欣然公告，近日，本集團全球首創用於增加乾眼症患者淚液分泌的鼻噴產品酒石 酸伐尼克蘭鼻噴霧劑(「OC-01」)，在正式獲批後於中山大學附屬第一醫院和深圳市眼科 醫院實現中國大陸首批商業化處方落地。這一裡程碑進展標誌著中國乾眼症治療迎來全 新選擇：中國目前唯一一款獲批上市的用於增加乾眼症患者淚液分泌的鼻噴產品正式投 入臨床應用，為中國乾眼症患者提供一種全新的治療方案。 OC-01 是高選擇性的煙鹼乙酰膽鹼受體激動劑，普遍認為可通過啟動三叉 ...

Group 1 - Hubei Changjiang No.1 Health Industry Investment Partnership has been established with a capital contribution of 3.401 billion RMB, primarily funded by Hubei Changjiang Industrial Investment Fund Co., Ltd. and Hubei Changjiang New Kinetic Energy Private Fund Management Co., Ltd. [1] - The fund aims to accelerate the development of the biopharmaceutical and health industry in Hubei, which is a key strategic pillar industry for the province, projected to reach a trillion-level scale [1][3]. - The establishment of the fund is expected to effectively promote the construction of biopharmaceutical industrial parks and project introductions [1]. Group 2 - Guangji Pharmaceutical, as the only provincial-level listed pharmaceutical company in Hubei, is a significant subsidiary of Changjiang Industrial Group, producing various vitamin products and serving as a major supplier of Vitamin B2 globally [2]. - The fund will provide strong capital support for Guangji Pharmaceutical in terms of industrial collaboration, project implementation, mergers, and development [2]. - The fund will also establish an expert committee to provide intellectual support for project advancement, enhancing the scientific and forward-looking aspects of industry development [2]. Group 3 - Changjiang Industrial Group was established in January 2022, with a registered capital of 33.6 billion RMB and total assets of 250.9 billion RMB, managing over 700 billion RMB in funds [3]. - The health industry in Hubei has surpassed 850 billion RMB in scale, accounting for 15% of the province's GDP, with expectations to exceed 950 billion RMB by 2025, reflecting a compound annual growth rate of 12%-15% [3]. - The "14th Five-Year Plan" for the development of the health industry in Hubei includes the establishment of a 10 billion RMB guiding fund to support sectors such as biopharmaceuticals and medical devices [3]. Group 4 - By the end of 2024, the number of high-tech enterprises in Hubei's health sector is expected to exceed 1,500, marking a 65% increase since 2020 [4]. - In the chemical pharmaceutical sector, companies like Renfu Pharmaceutical and Yuanda Pharmaceutical lead in specific markets such as anesthetics and eye drops [4]. - Wuhan Optics Valley Biomedicine City has over 400 biopharmaceutical companies, forming a regional cluster advantage in areas like genetic engineering and vaccine development [4].

Core Insights - The Yttrium-90 microsphere injection, 易甘泰®, has benefited over 3,000 liver cancer patients since its launch in mainland China in 2022, showcasing its significant impact in the treatment of liver tumors [1] - The product received FDA approval for a new indication for unresectable hepatocellular carcinoma (HCC) on July 7, 2025, making it the first and only selective internal radiation therapy product approved for both unresectable HCC and colorectal cancer liver metastases [1][5] - The 15 abstracts related to Yttrium-90 microspheres presented at the 15th Asia-Pacific Primary Liver Cancer Expert Alliance (APPLE) conference highlight its clinical applicability and effectiveness across different stages of HCC [4][2] Group 1: FDA Approval and Clinical Impact - The FDA's early approval was based on the promising mid-term results of the DOORwaY90 clinical trial, which reported an objective response rate of 98.5% and a local tumor control rate of 100% [4][5] - The approval aligns with real-world data from Chinese patients, indicating broad applicability of 易甘泰® in local clinical settings [4] - The product's success is expected to accelerate its commercialization in China and reshape the treatment landscape for liver cancer [1][5] Group 2: Market Context and Future Prospects - According to GLOBOCAN 2022, liver cancer is the sixth most common cancer globally, with approximately 870,000 new cases and 760,000 deaths annually [6] - In China, liver cancer accounted for about 370,000 new cases in 2022, representing 42.5% of global cases, and the mortality rate was approximately 320,000, also the highest globally [6][8] - The Chinese liver cancer drug market is projected to grow at a compound annual growth rate (CAGR) of 12.3%, reaching 45.21 billion yuan by 2030 [8][9] Group 3: Company Development and Innovation - The company has established a comprehensive nuclear medicine industry chain, covering research, production, sales, and regulatory qualifications, with 15 innovative products in the pipeline targeting various cancers [11][17] - The newly launched Chengdu Wenjiang nuclear medicine R&D and production base, with an investment exceeding 3 billion yuan, aims to enhance production capabilities and meet domestic and international demands [17][19] - The base features advanced automation and a full-process radiation monitoring system, positioning the company as a leader in the nuclear medicine sector [18][19]

Core Insights - The company has achieved a 40% increase in efficiency by implementing an automated grinding machine, replacing traditional manual grinding methods [1] - The company has a production capacity of over 3,000 tons of raw materials annually and has established itself as a national high-tech enterprise, exporting products to over 20 countries and regions [1] - The company has formed a strategic partnership with Yuan Da Pharmaceutical to enhance market competitiveness and has seen an average annual revenue growth rate of 36.5% from 2022 to 2024 [2] Group 1 - The company was founded in 1989 and initially faced challenges such as resource shortages and transportation difficulties, but it developed a leading production line for glycine using chemical synthesis [2] - In 2014, the company underwent a bankruptcy restructuring with an investment of 150 million yuan, leading to a turnaround from significant losses to profitability [2] - The company plans to establish a new high-purity raw material production line with an expected capacity increase to 5,000 tons by the end of the year [3] Group 2 - The company allocates over 5% of its sales revenue annually to a special technology innovation fund, with R&D expenses reaching over 7.9 million yuan last year, a year-on-year increase of approximately 35% [3] - The company collaborates with over 10 research institutions, including the Chinese Academy of Sciences, and has established a postdoctoral research station and a provincial amino acid technology center [3] - From January to June this year, the company's sales revenue increased by 33%, with a target of exceeding 200 million yuan in sales revenue for the year [3]

Investment Rating - The report maintains a positive outlook on the innovative drug sector, expecting significant revenue growth and potential profitability for several companies in the first half of 2025 [3][8]. Core Insights - The innovative drug sector is projected to see revenue growth of at least 40% year-on-year for companies such as BeiGene, Innovent Biologics, and others, driven by the commercialization of core products [3][8]. - The Pharma sub-sector is expected to experience a revenue growth rate of 10-15% for companies like Hansoh Pharmaceutical and China Biologic Products, while others may see growth of 5-10% [3][8]. - The medical services sector is anticipated to have a revenue growth of 15-20% for companies like GuoShengTang, with a focus on mergers and acquisitions [3][8]. Summary by Sections Innovative Drugs - Companies expected to achieve over 40% revenue growth in 1H25 include BeiGene, Innovent Biologics, and others, primarily due to the commercialization of key products [3][8]. - Some companies, such as BeiGene and Innovent Biologics, are likely to reach profitability due to increased sales volume [3][8]. - The report highlights that companies like Hutchison China MediTech may see significant profit growth due to asset disposals [3][8]. Pharma - The impact of centralized procurement is gradually diminishing, allowing for continued innovation and transformation within the sector [3][8]. - Companies projected to achieve 10-15% revenue growth include Hansoh Pharmaceutical and China Biologic Products, while others like 3SBio and United Laboratories may see 5-10% growth [3][8]. Medical Services - GuoShengTang is expected to have a revenue growth of 15-20% in 1H25, with ongoing attention to domestic and international acquisition activities [3][8].