Major Events - Mingming is busy (01768) plans to globally offer 14.1011 million H-shares from January 20 to January 23, introducing cornerstone investors such as Tencent [1] - Skyworth Group (00751) intends to privatize and delist while spinning off its solar business for listing, resuming trading on January 21 [1] - InnoCare Pharma (01672) has selected a new generation of monthly subcutaneous injection GLP-1R/GIPR/GCGR three-target agonist peptide ASC37 for clinical development [1] - Heartway Medical-B (06609) has had its registration application for a self-expanding intracranial drug-eluting stent accepted by the National Medical Products Administration [1] Project Investments - China Duty Free Group (01880) subsidiary plans to acquire all issued shares of DFS Cotai Limitada [2] - Jiutai Bonda Energy (02798) intends to increase investment of approximately 114 million yuan to acquire a 51% stake in Guizhou Huaneng Jiayuan Coal Industry Co., Ltd. [2] - Crystal International (02232) plans to acquire land in Egypt for 30.4 million USD [2] Share Buybacks - Kuaishou-W (01024) repurchased 393,000 shares for 29.9525 million HKD on January 20 [2] - Geely Automobile (00175) spent approximately 63.6286 million HKD to repurchase 3.788 million shares on January 20 [2] - Sunny Optical Technology (02382) repurchased 1.4 million shares for 88.6084 million HKD on January 20 [2] - Xiaomi Group-W (01810) repurchased 5.5 million shares for 196 million HKD on January 20 [2] Operating Performance - Zhaoyan New Drug (06127) expects to achieve a net profit attributable to shareholders of approximately 233 million to 349 million yuan in 2025, representing a year-on-year increase of about 214.0% to 371.0% [2] - China Longgong (03339) issued a profit warning, expecting a significant increase in annual net profit [2] - Heartway Medical-B (06609) anticipates revenue of approximately 400 million to 410 million yuan in 2025, a year-on-year increase of at least 43.9% [3] - Anta Sports (02020) expects low single-digit positive growth in retail sales for Anta brand products and mid-single-digit positive growth for FILA brand products in 2025 [3] - Anton Oilfield Services (03337) reported new orders of 2.084 billion yuan in the fourth quarter, a year-on-year decrease of 20% [3]

Core Viewpoint - The company has selected ASC37, a next-generation monthly subcutaneous injection targeting GLP-1R, GIPR, and GCGR, as a clinical development candidate for obesity treatment, with plans to submit an IND to the FDA in Q2 2026 [1] Group 1: Product Development - ASC37 is developed using the company's AI-assisted Structure-Based Drug Discovery (AISBDD) and Ultra-Long-Acting Platform (ULAP) technologies, showing approximately 5 times, 4 times, and 4 times stronger agonistic activity on GLP-1R, GIPR, and GCGR compared to retatrutide [2] - The designed optimization of ASC37 allows for a longer observed half-life, supporting monthly subcutaneous administration with an injection volume not exceeding 1 milliliter, which also provides scalability advantages in manufacturing [2] - In non-human primate studies, ASC37's proprietary depot formulation has an average observed half-life of about 17 days, which is 7 times longer than that of retatrutide in standard liquid formulation [2] Group 2: Clinical Strategy - The company aims to advance ASC37 into clinical trials, with the Phase I study expected to commence in the second half of 2026, as part of a broader strategy to improve treatment options for obesity [3] - ASC37 is being developed as both a monotherapy and in combination therapies for cardiometabolic diseases, including obesity, diabetes, and metabolic dysfunction-associated steatotic liver disease (MASH) [3] - The company plans to combine ASC37 with its monthly subcutaneous amylin receptor agonist peptide ASC36 to treat obesity, diabetes, and other metabolic diseases [3] Group 3: Technological Advantages - The company's AISBDD and ULAP technologies enable the design, optimization, and development of multiple long-acting peptides for monthly subcutaneous injection, including ASC35, ASC36, and ASC37 [3] - The proprietary ULAP technology allows for the design of various release rate constants for peptides in subcutaneous depots, facilitating precise release of injected peptides within predetermined dosing intervals, thereby improving clinical efficacy [3]

Core Viewpoint - The company has selected ASC37, a next-generation monthly subcutaneous injection targeting GLP-1R, GIPR, and GCGR, as a clinical development candidate for obesity treatment, with plans to submit an IND to the FDA in Q2 2026 [1] Group 1: Product Development - ASC37 is developed using the company's AI-assisted Structure-Based Drug Discovery (AISBDD) and Ultra-Long-Acting Platform (ULAP) technologies, showing approximately 5 times, 4 times, and 4 times stronger agonistic activity on GLP-1R, GIPR, and GCGR compared to retatrutide [2] - The designed optimization of ASC37 allows for a longer observed half-life, supporting monthly subcutaneous administration with an injection volume not exceeding 1 milliliter, which also provides scalability advantages in manufacturing [2] - In non-human primate studies, ASC37's proprietary depot formulation has an average observed half-life of about 17 days, which is 7 times that of retatrutide in standard liquid formulation [2] Group 2: Clinical Strategy - The company aims to advance ASC37 into clinical trials, with Phase I expected to start in the second half of 2026, as part of a broader strategy to improve treatment options for obesity [3] - ASC37 is being developed as both a monotherapy and in combination therapies for cardiometabolic diseases, including obesity, diabetes, and metabolic dysfunction-related fatty liver disease (MASH) [3] - The company plans to combine ASC37 with its monthly subcutaneous amylin receptor agonist peptide ASC36 to treat obesity, diabetes, and other metabolic diseases [3]

Group 1 - Company Gilead Sciences-B (01672.HK) has selected ASC37, a next-generation subcutaneous injection for monthly administration targeting GLP-1R, GIPR, and GCGR, as a clinical development candidate [1] - The company plans to submit an Investigational New Drug (IND) application for ASC37 for the treatment of obesity to the FDA in the second quarter of 2026 [1] - ASC37 is developed using Gilead's AI-assisted structure-based drug discovery and ultra-long-acting platform technologies, showing significantly higher agonistic activity compared to retatrutide [2] Group 2 - In vitro studies indicate that ASC37 exhibits approximately 5 times, 4 times, and 4 times stronger agonistic activity on GLP-1R, GIPR, and GCGR, respectively, compared to retatrutide [2] - ASC37 has a longer observed half-life, allowing for monthly subcutaneous administration with an injection volume not exceeding 1 milliliter, which also provides scalability advantages in manufacturing [2] - The proprietary depot formulation of ASC37 has an average observed half-life of about 17 days in non-human primates, which is 7 times longer than that of retatrutide in standard liquid formulation [2] Group 3 - The advantages of ASC37 in terms of agonistic activity and observed half-life suggest its potential as a new generation therapy for obesity [3] - The company is advancing ASC37 into clinical stages, with Phase I studies expected to commence in the second half of 2026, marking a significant step towards improving treatment options for the obese population [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分內容所產生或因依 賴該等內容而引致的任何損失承擔任何責任。 Ascletis Pharma Inc. 歌禮製藥有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1672） 自願性公告 歌禮選定新一代每月一次皮下注射GLP-1R/GIPR/GCGR 三靶點激動劑多肽ASC37進行臨床開發 本公告乃歌禮製藥有限公司（「本公司」或「歌禮」，連同其附屬公司稱為「本集 團」）自願作出，以使本公司股東及潛在投資者了解本集團的最新業務發展。 本公司董事（「董事」）會（「董事會」）宣布其已選定新一代每月一次皮下給藥的 GLP-1R/GIPR/GCGR[1]三靶點激動劑多肽ASC37注射劑作為臨床開發候選藥物。 歌禮預計將於2026年第二季度向美國食品藥品監督管理局(FDA)遞交ASC37注射 劑治療肥胖症的新藥臨床試驗申請(IND)。 ASC37是一款利用歌禮基於結構的AI輔助藥物發現（Artificial Intelligence-assisted Structure- ...

Core Viewpoint - The stock of Gilead Sciences-B (01672) rose over 5% following positive data from its oral GLP-1 drug ASC30 for obesity treatment in a Phase IIa study in the U.S. [1] Group 1: Stock Performance - Gilead Sciences-B's stock increased by 5.12%, reaching HKD 13.56, with a trading volume of HKD 13.2847 million [1]. Group 2: Research and Analyst Opinions - Citigroup released a report indicating that the data from ASC30 demonstrates its potential as a best-in-class treatment, enhancing confidence in future collaborations and predicting a positive stock price reaction; they reiterated a "Buy/High Risk" rating with a target price of HKD 32 [1]. - Orient Securities noted that ASC30's weight loss data is superior, with good safety profiles, and the molecular patent has been authorized in the U.S., indicating significant business development potential [1]. Group 3: Drug Development Insights - ASC30, developed on the Ultra-Long-Acting Platform (ULAP), has subcutaneous injection formulations with apparent half-lives of 46 days and 75 days, significantly longer than other ultra-long-acting GLP-1 drugs, while also demonstrating superior safety [1].

Core Viewpoint - Gilead Sciences-B (01672) experienced a significant stock increase of over 5%, reaching HKD 13.56, following positive data from its oral GLP-1 drug ASC30 for obesity treatment in a Phase IIa study in the U.S. [1] Group 1: Company Performance - Gilead's stock rose by 5.12%, with a trading volume of HKD 13.28 million [1] - Citigroup released a report indicating that the data from ASC30 demonstrates its potential as a best-in-class treatment, enhancing confidence in future collaborations [1] - The target price set by Citigroup is HKD 32, maintaining a "Buy/High Risk" rating [1] Group 2: Drug Development Insights - Oriental Securities noted that ASC30 shows superior weight loss data and good safety, with molecular patents already authorized in the U.S., indicating significant business development potential [1] - The subcutaneous formulation of ASC30, developed on Gilead's Ultra-Long-Acting Platform (ULAP), has a half-life of 46 days and 75 days for weight loss and maintenance treatment, respectively, surpassing other long-acting GLP-1 drugs while maintaining superior safety [1]

Group 1 - The stock of Gilead Sciences-B (01672.HK) surged over 6% in the afternoon, with a current increase of 6.14% [1] - The stock price reached 13.66 HKD, indicating a positive market response [1] - The trading volume amounted to 35.85 million HKD, reflecting significant investor interest [1]

Core Viewpoint - The stock of Gilead Sciences-B (01672) rose over 6% following positive data from its oral GLP-1 drug ASC30 for obesity treatment in a Phase IIa study in the U.S. [1] Group 1: Stock Performance - Gilead Sciences-B's stock increased by 6.14%, reaching HKD 13.66, with a trading volume of HKD 35.85 million [1] Group 2: Research and Analyst Insights - Citigroup released a report indicating that the data from the ASC30 study demonstrates its potential as a best-in-class treatment, enhancing confidence in future collaborations [1] - The report maintains a "Buy/High Risk" rating for the stock, with a target price set at HKD 32 [1] Group 3: Company Actions - The company's board believes the current stock price is undervalued and has decided to increase the share buyback fund from a maximum of HKD 300 million to HKD 500 million, based on significant progress in several core pipelines [1]

Core Viewpoint - The Hong Kong stock market for innovative drug concept stocks has seen a significant rise in early trading, indicating positive investor sentiment in the sector [1] Company Performance - 3SBio (01530.HK) increased by 6.35%, reaching HKD 28.82 [1] - WuXi AppTec (02359.HK) rose by 7.22%, trading at HKD 118.8 [1] - Lepu Biopharma-B (02157.HK) saw a gain of 6.64%, priced at HKD 28.9 [1] - Galenica-B (01672.HK) experienced a 4.09% increase, with shares at HKD 12.97 [1] - Genscript Biotech (01952.HK) grew by 3.97%, valued at HKD 40.84 [1]