Group 1 - The white liquor industry is experiencing a significant downturn, with 6 companies expected to see a year-on-year decline of over 50% in their performance for the first half of the year [1] - Among the 20 A-share listed liquor companies, 7 have disclosed performance forecasts, with 4 companies, including Jinzhongzi Liquor and Huangtai Liquor, predicting losses [1] - The downward pressure on performance is shifting from small and medium-sized enterprises to larger companies, indicating a deepening adjustment in the industry [1] Group 2 - Zongheng Co. announced that its controlling shareholder will transfer 999,600 shares, representing 11.41% of the total share capital, to the other party in a divorce settlement, valued at approximately 5.36 million [3] - Hangzhou Bank reported a net profit of 11.662 billion yuan for the first half of 2025, a year-on-year increase of 16.67% [22] - Zhongwei Company expects a net profit increase of 31.6% to 41.3% year-on-year for the first half of 2025, with revenue growth of approximately 43.88% [24] Group 3 - Oriental Yuhong plans to acquire 100% of Chilean construction material retail company Construmart S.A. for approximately 1.23 billion USD [18] - The company Beiyinmei's controlling shareholder has applied for pre-restructuring, with a significant portion of shares being pledged or frozen [17] - Huazi Industrial announced a major board reshuffle following a change in actual control [20]

Group 1 - Chinese assets are experiencing a resurgence, with NIO and Li Auto rising nearly 7% as foreign investment increases in A-shares [2] - The Invesco Global Sovereign Asset Management Research indicates a noticeable recovery in interest from international investment institutions towards the Chinese market, managing approximately $27 trillion in assets [2] - Several foreign institutions express optimism about Chinese assets due to the stable economic performance, policy benefits, and improved corporate earnings outlook [2] Group 2 - The U.S. House of Representatives has advanced cryptocurrency legislation, supported by President Trump, which has led to significant stock price increases for companies in the crypto sector [3] - Blue Ocean Interactive surged over 45% after announcing the establishment of LK Crypto, focusing on mainstream crypto asset management and RWA [3] - Hong Kong is actively developing stablecoin products, creating a dual regulatory framework that connects the U.S. dollar stablecoin with the mainland [3] Group 3 - The Hong Kong IPO market is witnessing a surge, with a significant increase in financing amounts, reflecting global capital's confidence in China's industrial upgrade and consumption potential [7] - On July 9, the Hong Kong Stock Exchange saw five companies queueing for listing in a single day, raising over 10 billion HKD [7] Group 4 - The domestic consumption and investment policies are being emphasized by the Chinese government to strengthen the domestic circulation [5][6] - Analysts highlight the urgency and necessity of promoting consumption as a core strategy for economic growth [6] Group 5 - The A-share market has seen an increase in financing balance for eight consecutive days, totaling an increase of 44.038 billion CNY, indicating positive market sentiment [10] - Analysts suggest that the current macro environment and market risk appetite signal potential for further market growth [10] Group 6 - The number of private equity MOM products registered this year has reached a new high, with 43 products registered by July 15, surpassing the total for the past nine years [14] - This trend indicates a strong interest in the MOM fund model, which allows for diversified asset management [14] Group 7 - The beverage brand Wahaha is facing a decline in sales following a family dispute involving its chairman, which has raised concerns among distributors [16] - The internal family conflict could potentially disrupt the competitive landscape of the Chinese beverage industry [16] Group 8 - The domestic electric vehicle market is seeing significant growth, with L2-level assisted driving penetration exceeding 50% [18] - The heavy truck sales in the first half of the year have increased by approximately 7%, with new energy heavy trucks being a major highlight [18] Group 9 - The stock market is experiencing fluctuations, with the Shanghai Composite Index slightly declining by 0.03% to 3503.78 points [19] - The Hong Kong market is also showing mixed performance, with the Hang Seng Index and the Hang Seng Tech Index experiencing slight declines and gains, respectively [19] Group 10 - The U.S. stock market has seen gains driven by positive economic data and corporate earnings reports, with the S&P 500 rising by 0.45% [20] - Approximately 88% of S&P 500 companies that have reported earnings exceeded analyst expectations, boosting investor confidence [20] Group 11 - Several foreign investment banks have expressed positive views on the Chinese market, with Citigroup raising its ratings for Chinese and Korean markets to "overweight" [21] - Citigroup projects the Hang Seng Index to reach 25,000 points by the end of the year and the CSI 300 Index to reach 4,200 points [21] Group 12 - The stock market's investment logic is shifting towards cash flow analysis in a low-interest-rate environment, with a focus on high-dividend and strong cash flow companies [22] - Analysts are optimistic about sectors such as automotive, electronics, and traditional high-growth areas like AI and pharmaceuticals [22]

Policy Developments - The National Medical Products Administration (NMPA) has released a draft for public consultation regarding the adjustment of medical device classifications, aiming to optimize the registration and filing requirements for medical devices [1] Drug Approval - Yuyuan Pharmaceutical's YKYY029 injection has received clinical trial approval for treating hypertension, marking a significant step in the development of a novel siRNA drug [2] - Hengrui Medicine has received clinical trial approvals for four drugs, including SHR-8068 injection and Abediterib injection, with total R&D investments amounting to approximately 20.33 million yuan [3] Financial Reports - Microchip Biotech expects a net profit of 30.06 million yuan for the first half of 2025, driven by increased sales from new drug listings and optimized sales strategies [4] - China National Pharmaceutical Modern reported a 6.46% decline in net profit for the first half of the year, attributed to decreased sales and prices of certain antibiotics and other products [5] Capital Market - Tigermed announced the sale of its stake in Lixin Pharmaceutical for approximately 34.11 million USD, reflecting a strategic move in the context of the domestic pharmaceutical industry's consolidation [6] Industry Events - A breakthrough in brain-computer interface technology has been achieved in Shanghai, allowing patients with speech impairments to communicate through decoded brain activity [8] - Yuan Da Pharmaceutical's innovative nasal spray for dry eye treatment has received approval and its first prescriptions have been issued, providing a new treatment option for patients [9] Debt Resolution - Kangmei Pharmaceutical has reached a settlement agreement to resolve historical debt issues for 43.5 million yuan, facilitating the closure of related legal matters [10] Market Sentiment - Weier Pharmaceutical announced plans for its employee stock ownership platform to reduce its holdings by up to 1% of the company's shares, driven by shareholder funding needs [11]

Group 1 - Hong Kong Stock Exchange is considering shortening the settlement cycle from "T+2" to "T+1" to enhance liquidity and accelerate capital turnover [1] - The U.S. House of Representatives passed a significant bill regulating "stablecoins," marking a step towards integrating digital assets into the mainstream financial system [2] - The Nasdaq China Golden Dragon Index rose by 1.2%, with notable gains in U.S. stocks, including Nvidia, which reached a market capitalization of over $4.2 trillion [3] Group 2 - BlackRock reported that over 20% of its clients are considering reducing exposure to the U.S. market and dollar assets, with a focus on Asian stock opportunities [4] - The Ministry of Finance in China adjusted the consumption tax policy for ultra-luxury cars, now applying to vehicles retailing at 900,000 yuan and above [5] Group 3 - Shanghai's brain-computer interface research achieved a breakthrough, allowing 10 subjects to communicate their thoughts through a computer interface, potentially benefiting patients with speech impairments [6] - Southern Power Grid reported a new peak load of 256 million kilowatts due to high temperatures, marking the second highest load this year [7] Group 4 - The price of silicon wafers has increased significantly, with N-type G10L single crystal silicon wafers rising by 22.09% to 1.05 yuan per piece [8][9] - Changjie Tong expects a profit of 31 to 37 million yuan for the first half of the year, with cloud subscription revenue projected to grow by over 10% [10] Group 5 - Yanzhou Coal Mining Company reported a coal production of 73.6 million tons in the first half of the year, a year-on-year increase of 6.54% [11] - Friendship Time anticipates a mid-term revenue growth of approximately 14.1% to 23.6%, with profits expected to increase significantly [12] Group 6 - Yuan Da Pharmaceutical's nasal spray product for treating dry eye syndrome has received approval for commercialization in mainland China [13] - The Chinese online literature market is projected to reach a revenue of 49.55 billion yuan in 2024, with a year-on-year growth of 29.37% [14] Group 7 - China Power plans to acquire a 31% stake in Tori Power for approximately 310 million yuan [15] - Baiyunshan's research on Ganoderma lucidum spore oil for treating lung nodules has been published in a prominent scientific journal [16] Group 8 - Tigermed plans to sell a 3.41% stake in Lixin Pharmaceutical for approximately 34.11 million USD [17][18] - Lens Technology is reportedly considering reviving its IPO plans in Hong Kong [19] Group 9 - Hengrui Medicine received approval for clinical trials for four new drugs, with significant investments in their development [20] - MicroPort Medical anticipates a net loss of no more than 125 million yuan for the first half of the year, with a revenue growth of 70% to 80% [21] Group 10 - Huajian Medical is launching a global exchange focused on high-tech medical innovation assets and a stablecoin plan [22] - GCL-Poly Energy has reached a strategic cooperation agreement with China Pacific Insurance Asset Management to explore tokenization solutions for real-world assets [23] Group 11 - Kingboard Laminates' major shareholder plans to place 78.5 million shares at a price of 10 HKD each [24][25] - October Rice anticipates a net profit growth of at least 90% for the first half of the year [26]

Group 1 - Tigermed announced the sale of its stake in Lixin Pharmaceutical, holding a direct stake of 3.41% and an indirect stake of 4.58% through fund holdings, with the total transaction valued at approximately $34.11 million [1] - The sale reflects Tigermed's ability to achieve investment returns and demonstrates its professional post-investment management capabilities as a leading CRO [1] Group 2 - Yuan Da Pharmaceutical's innovative nasal spray product for dry eye treatment, OC-01, has received approval from the National Medical Products Administration and its first commercial prescriptions have been implemented [2] - The product's launch enhances Yuan Da's ophthalmology pipeline and signifies its strategic shift from a traditional pharmaceutical company to an innovative one, with future market performance being promising [2] Group 3 - China Pharmaceutical's general manager, Hu Huidong, has resigned due to work adjustments, which may lead to new development strategies if a new management team with rich industry experience is appointed [3] - The impact of this leadership change should be evaluated in conjunction with the company's fundamentals and subsequent announcements [3] Group 4 - Microchip Biotech expects a significant increase in net profit by 173% for the first half of 2025, with revenue projected at 407.29 million yuan, a 35% year-on-year increase [4] - The company is entering a harvest phase due to its independent R&D capabilities, validating its "small but beautiful" commercialization path, although it must continue to advance its pipeline and manage potential policy risks for sustained growth [4]

Group 1 - The unemployment rate for urban youth aged 16-24 in June was 14.5%, a decrease of 0.4 percentage points from the previous month, marking four consecutive months of decline [2] - Foreign institutions have collectively raised China's GDP growth forecast for 2025, with Morgan Stanley increasing its prediction from 4.5% to 4.8%, Goldman Sachs from 4.6% to 4.7%, and UBS from 4% to 4.7% [2] - The average disposable income for residents in 31 provinces in the first half of 2025 showed that 11 provinces exceeded 20,000 yuan, with Shanghai leading at 46,805 yuan [4] Group 2 - The U.S. House of Representatives passed the "Genius Act" aimed at significant legislative reform for cryptocurrency regulation, which is expected to be signed into law by President Trump [3] - The "Clarity Act," which aims to establish a broader regulatory framework for digital assets, was also passed by the House and will be reviewed by the Senate [3] Group 3 - The 25th China International Investment Trade Fair will be held in Xiamen from September 8 to 11, 2025, focusing on expanding two-way investment and promoting global development [5] - The National Intellectual Property Administration reported that the average review period for invention patents has been reduced to 15.5 months, and the total annual import and export of intellectual property fees increased from 319.44 billion yuan in 2020 to 398.71 billion yuan in 2024, with an annual growth rate of 5.7% [5] Group 4 - The A-share market saw a rise in major indices, with the Shanghai Composite Index up 0.37% to 3,516.83 points, and the Shenzhen Component Index up 1.43% [6] - Hong Kong's Hang Seng Index closed down 0.08% at 24,498.95 points, while the Hang Seng Tech Index rose 0.56% [6] - Insurance capital has conducted over 9,800 investigations into A-share listed companies this year, focusing on high-dividend and technology growth sectors [6] Group 5 - South Korean investors are accelerating their allocation of assets in China, with trading volumes exceeding $5.4 billion in Hong Kong and A-shares this year [7] - The Beijing Stock Exchange plans to conduct internal testing for trading support and fixed income platforms on July 19 [7] Group 6 - TSMC reported a net profit of 398.3 billion New Taiwan dollars in Q2, a 61% year-on-year increase, driven by strong demand for AI chips [8] - The company forecasts a 30% increase in sales in USD terms for the year, up from a previous estimate of 25% [8] Group 7 - The Ministry of Finance and the State Taxation Administration announced a reduction in the consumption tax threshold for super-luxury cars to 900,000 yuan, effective July 20, 2025 [11] - The Ministry of Agriculture and Rural Affairs emphasized the importance of stabilizing pig production and implementing policies to ensure supply and price stability [11] Group 8 - The China Securities Association initiated a special survey on the information technology of brokerage branch institutions, focusing on operational infrastructure, technology applications, and data security practices [12]

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]

Group 1: Company Performance - Zhongwei Company expects a net profit of 680 million to 730 million yuan for the first half of 2025, representing a year-on-year increase of 31.61% to 41.28% [1] - The company's operating revenue is approximately 4.961 billion yuan, with a year-on-year growth of 43.88%, driven by significant increases in revenue from etching equipment and LPCVD film equipment [1] - Hangzhou Bank reported a net profit of 11.662 billion yuan for the first half of 2025, reflecting a year-on-year growth of 16.67% [2] - The bank's total assets reached 2.235595 trillion yuan, up 5.83% from the end of the previous year [2] Group 2: Corporate Actions - Helen Piano announced that its actual controllers are planning a change in control, leading to a temporary suspension of its stock starting July 18 [3] - Shanghai Material Trade reported that its subsidiary's data product "Non-ferrous Metal Spot Index Query" is currently in a "temporarily invalid" state due to lack of transactions since its listing [4] - Lansheng Co. stated that it has not engaged in any business related to "stablecoins" amid rising market interest [5] Group 3: Other Corporate Developments - Microchip Biotech expects a net profit of 30.06 million yuan for the first half of the year, marking a turnaround from losses [6] - Tuo Jing Technology anticipates a year-on-year net profit increase of 101% to 108% for the second quarter [6] - Kai Sheng New Materials has set an initial inquiry transfer price of 13.69 yuan per share [6]

Core Viewpoint - Multiple listed companies in the Shanghai and Shenzhen markets have announced significant developments, including changes in control, asset sales, investments, and performance forecasts, which may present investment opportunities and risks for investors. Group 1: Control Changes and Major Transactions - Helen Piano's actual controllers are planning a change in control, leading to a suspension of trading starting July 18, 2025, for up to two trading days [3] - Tiger Medical is selling 95.09% of its stake in Lixin Pharmaceutical for approximately $34.11 million [4] - ST Lifan announced that its operational situation has not changed significantly despite a stock price fluctuation of 42.54% over two trading days [9] Group 2: Investments and Acquisitions - Sdic plans to invest approximately 509 million yuan in expanding its high-end functional film production capacity [5] - Dongfang Yuhong's subsidiary intends to acquire 100% of Chile's Construmart for about $123 million [6] - Huaitian Thermal Power has been recommended as the owner of a 700,000 kW wind power project, aligning with its investment strategy [7] Group 3: Performance Announcements - Hangzhou Bank reported a net profit of 11.662 billion yuan for the first half of the year, a year-on-year increase of 16.67% [14] - Tuojing Technology expects a net profit increase of 101% to 108% in Q2 2025, driven by new product breakthroughs [15] - Weicheng Bio anticipates a net profit of 30.06 million yuan for the first half of 2025, reversing a loss from the previous year [17] Group 4: Contracts and Strategic Partnerships - State Grid Information won contracts totaling 966 million yuan from the State Grid Corporation [21] - Beizhi Technology signed a contract worth 164 million yuan with a major client [22] - Mould Technology received a project letter of intent for exterior parts with an expected total sales of 2.044 billion yuan [23] Group 5: Shareholding Changes - Huasheng Lithium plans to reduce its shareholding by up to 2.24% [25] - Yutai Micro's shareholder intends to reduce holdings by up to 3% due to personal funding needs [26] - Alter's controlling shareholder plans to reduce holdings by up to 3% [27]

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。 HANGZHOU TIGERMED CONSULTING CO., LTD. 杭州泰格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：3347） 董事長 葉小平 香 港，2025年7月17日 於 本 公 告 日 期，執 行 董 事 為 葉 小 平 博 士、曹 曉 春 女 士、吳 灝 先 生 及 聞 增 玉 先 生；獨 立 非 執 行 董 事 為 廖 啟 宇 先 生、袁 華 剛 先 生 及 劉 毓 文 女 士。 海外監管公告 本 公 告 乃 杭 州 泰 格 醫 藥 科 技 股 份 有 限 公 司（「本公司」）根 據 香 港 聯 合 交 易 所有限公司證券上市規則第13.10B條 而 作 出。 茲 載 列 本 公 司 於 深 圳 證 券 交 易 所 網 站 刊 登 公 ...