Group 1 - The Hong Kong stock market for innovative drug concept stocks has experienced a significant upward trend, with notable gains in several companies [1] - Nocare Pharma (09969.HK) has seen an increase of over 10%, while Genscript Biotech (01672.HK) has risen by more than 7% [1] - Other companies such as Kelun-Biotech (06990.HK), Sihuan Pharmaceutical (02096.HK), and WuXi AppTec (02359.HK) have also followed suit with upward movements in their stock prices [1]

Group 1 - The core point of the article is that Eli Lilly's drug Tirzepatide is projected to achieve sales of $36.507 billion in 2025, marking it as the "king of drugs" for that year, with expectations to maintain this position for several years [1] - According to Evaluate, approximately half of the top ten global drugs by sales in 2030 are expected to be GLP-1 class drugs [2] - The weight loss sector has become a strategic focus for major pharmaceutical companies (MNCs), with significant business development (BD) and mergers and acquisitions (M&A) activity anticipated this year [3] Group 2 - Major pharmaceutical companies are heavily investing in the weight loss sector, with Eli Lilly expecting Orforglipron to receive approval in Q2 2026 and ongoing clinical trials for other drugs [3] - Recent transactions in the weight loss sector include a $100 million upfront payment from Roche for a specific oral GLP-1 agonist patent and a strategic collaboration between CSPC and AstraZeneca worth up to $18.5 billion [4] - New directions in the weight loss market, such as oral small molecules and ultra-long-acting GLP-1 drugs, present potential investment opportunities, with companies like Singlomd, Hengrui Medicine, and others identified as relevant targets [4]

Investment Rating - The report maintains a "Positive" investment rating for the pharmaceutical and biotechnology industry in China, indicating an expectation of returns exceeding the market benchmark by more than 5% [5]. Core Insights - Tirzepatide has been crowned the "King of Drugs," with annual sales reaching $36.507 billion in 2025, representing a 122% increase. It is expected to maintain its leading position for several years. Other notable drugs include Pembrolizumab with $31.7 billion in sales (+7%) and Semaglutide with approximately $34.606 billion (+18%) [9]. - The weight loss market is becoming a strategic focus for multinational corporations (MNCs), with significant investments and mergers and acquisitions (M&A) occurring in this sector. Major players are prioritizing weight loss in their strategies, with various drugs expected to enter clinical trials and receive approvals in 2026 [9]. - The demand for weight loss solutions is driving ongoing business development (BD) activities, with recent agreements indicating a robust pipeline for future innovations in this area [9]. - The commercial value of weight loss drugs is anticipated to be rapidly released, with MNCs viewing this sector as a core strategic area, leading to continued BD opportunities in oral small molecules, long-acting GLP-1s, and small nucleic acids [9]. Summary by Sections Investment Recommendations and Targets - Recommended stocks include: - Genscript Biotech Corporation (01672, Buy) - Hengrui Medicine (600276, Buy) - Zhongsheng Pharmaceutical (002317, Buy) - Yuyuan Pharmaceutical (688658, Buy) - Shijiazhuang Pharmaceutical Group (01093, Not Rated) - Sunshine Novo Nordisk (688621, Buy) [9].

消息面上，歌礼制药拟配售6925.6万股新股，预计所得款项净额约8.35亿港元。公司拟将配售净所得款 项中90%将用于治疗肥胖症的小分子口服GLP-1受体激动剂ASC30之全球Ⅲ期临床试验的准备及启动； 余下10%用作营运资金及一般公司用途。 歌礼制药-B(01672)午后涨超6%，截至发稿，涨5.2%，报13.76港元，成交额3267.02万港元。 值得注意的是，歌礼制药上月发布公告，公司董事会宣布其口服小分子GLP-1受体(GLP-1R)激动剂 ASC30治疗2型糖尿病的美国13周II期研究(NCT07321678)已完成首批受试者给药。预计将于2026年第三 季度获得该项II期研究的顶线数据。 ...

Core Viewpoint - The company, Gilead Sciences-B (01672), is experiencing a stock price increase of over 6%, currently trading at 13.76 HKD, with a transaction volume of 32.67 million HKD. The company plans to issue 69.256 million new shares, expecting net proceeds of approximately 835 million HKD, with 90% allocated for the global Phase III clinical trial preparation and initiation of the oral GLP-1 receptor agonist ASC30 for obesity treatment, and the remaining 10% for working capital and general corporate purposes [1][1][1]. Group 1 - Gilead Sciences plans to issue 69.256 million new shares [1] - The expected net proceeds from the share placement are approximately 835 million HKD [1] - 90% of the net proceeds will be used for the global Phase III clinical trial of ASC30 [1] Group 2 - The remaining 10% of the proceeds will be allocated for working capital and general corporate purposes [1] - The company announced that the Phase II study of ASC30 for type 2 diabetes has completed the first dosing of participants [1] - Top-line data from the Phase II study is expected in the third quarter of 2026 [1]

Group 1: Market Overview - The Hang Seng Index experienced volatility, initially rising over 300 points before dropping due to concerns over potential increases in value-added tax for technology stocks, ultimately closing up 59 points or 0.22% at 26,834 points [3][4] - The total market turnover for the day was 335.15 billion [3] Group 2: Technology Sector Concerns - Concerns arose regarding the increase in value-added tax for telecommunications services, leading to significant declines in major tech stocks such as Tencent, which fell 2.9% to 581 HKD, and Kuaishou, which dropped 4.6% to 73.45 HKD [4][9] - The adjustment of the value-added tax rate from 6% to 9% for telecommunications services has raised fears that similar increases may affect other sectors, particularly internet value-added services [9] Group 3: Gold Market Analysis - Citi's report indicates that gold prices are expected to decline, with a potential drop to 3,000 USD per ounce in a bear market scenario, while the baseline scenario predicts a decrease to 4,000 USD by 2027 [7][8] - Current gold prices have reached extreme levels, with the annual expenditure on gold as a percentage of GDP rising to 0.7%, the highest in 55 years, indicating a disconnection from the mining industry's marginal production costs [7] Group 4: Company News - Gilead Sciences announced a placement of 69.256 million new shares at a price of 12.18 HKD per share, raising approximately 844 million HKD, with 90% of the proceeds allocated for clinical trials of a new obesity treatment [11] - Cloud Wisdom plans to issue 1.008 million new H shares at a price of 310 HKD per share, raising approximately 312 million HKD, with proceeds aimed at enhancing its core technology capabilities [12] - Huatai Securities intends to issue 10 billion HKD in zero-coupon convertible bonds to support overseas business development and operational funding [14]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | 致：香港交易及結算所有限公司 公司名稱: 歌禮製藥有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01672 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 7,000,000,000 | USD | | 0.0001 | USD | | 700,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | 0 | | 本月底結存 | | | 7,000,000,000 | USD | | 0.0001 | USD | | 700,000 | 本月底法定/註冊股本總額： USD 700,000 FF3 ...

Core Viewpoint - The company, Gilead Sciences-B (01672), announced a share placement to raise approximately HKD 843.5 million for clinical trials and operational needs, leading to a stock price increase of over 3% [1] Group 1: Share Placement Details - The company plans to place 69.256 million shares, representing about 6.98% of the total issued shares (992 million shares excluding 7.0842 million treasury shares) [1] - The placement price is set at HKD 12.18 per share, which is approximately 4.0% lower than the closing price of HKD 12.69 on February 2 [1] - The total expected proceeds from the placement are approximately HKD 843.5 million, with net proceeds expected to be around HKD 835.3 million [1] Group 2: Use of Proceeds - Approximately 90% of the net proceeds from the placement is intended for the preparation, groundwork, and initiation of a global Phase III clinical trial for the small molecule oral GLP-1 receptor agonist ASC30 targeting obesity [1] - The remaining 10% of the net proceeds is suggested for working capital and other general corporate purposes [1]

歌礼制药配售价较前收盘每股12.69港元折让4.0%。 来源：滚动播报 ...

Group 1 - The company, Gilead Sciences, plans to raise HKD 843.5 million through a share placement [1]