（一家於中華人民共和國註冊成立的股份有限公司） 重要提示 重要提示： 閣下如對本招股章程的任何內容有任何疑問，應徵詢獨立專業意見。 Xuanzhu Biopharmaceutical Co., Ltd. 軒竹生物科技股份有限公司 全球發售 獨家保薦人及保薦人兼整體協調人 聯席整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 香港交易及結算所有限公司、香港聯合交易所有限公司及香港中央結算有限公司對本招股章程的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明 確表示概不就因本招股章程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。 本招股章程，連同本招股章程「附錄七－送呈公司註冊處處長及展示文件」所述的文件，已按照香港法例第32章公司（清盤及雜項條文）條例第342C條的規定由 香港公司註冊處處長登記。香港證券及期貨事務監察委員會及香港公司註冊處處長對本招股章程或上述任何其他文件的內容概不負責。 發售價將為11.60港元。香港發售股份申請人於申請時須支付發售價每股香港發售股份11.60港元，連同1.0%經紀佣金、0.0027%證監會交易徵費、0.00015%會 財局交易徵費及0 ...

Core Points - The company has received acceptance for its clinical trial application for GB10 injection, marking a significant step in its innovative drug development process [1][2][3] - GB10 injection is a high-concentration ophthalmic injection developed by the company, targeting age-related macular degeneration and diabetic macular edema [2] - Successful development and potential market launch of GB10 injection could enhance the company's product portfolio and market competitiveness [3] Summary by Sections Application Registration Details - Product Name: GB10 Injection [2] - Application Type: Domestic production drug registration clinical trial [2] - Acceptance Number: CXSL2500841 [2] - Indications: Treatment for neovascular diseases such as age-related macular degeneration (nAMD) and diabetic macular edema (DME) [2] - Dosage Form: Injection [2] - Product Overview: GB10 injection is a dual-target antibody with global intellectual property rights, showing efficacy in preclinical studies comparable to international competitors [2] Impact on the Company - The acceptance of the clinical trial application is a crucial milestone in the company's dual-antibody research strategy, indicating progress in its innovative drug development [3] - If successful, the drug could meet market demands with a more diverse product offering, thereby enhancing the company's competitive position [3]

Core Insights - AstraZeneca's stock has shown strong performance, rising 3.49% for three consecutive days, indicating investor confidence amid market volatility [1] - The company plans to directly list on the New York Stock Exchange, replacing its current American Depositary Receipts (ADR) on NASDAQ, aiming to attract more global investors while maintaining its UK listing status [1] - AstraZeneca intends to invest $50 billion in manufacturing and R&D in the U.S. by 2030 to maintain its market leadership amid increasing competition in generics [1] Market Position - The U.S. is AstraZeneca's largest single market, contributing over 40% of its revenue, with a goal to achieve $80 billion in annual revenue by 2030 [2] - The company has reported positive clinical trial results for its HER2-positive early breast cancer drug, trastuzumab, enhancing its innovative drug portfolio and potentially transforming treatment options [2] - AstraZeneca's strategic shift towards the U.S. market is expected to bolster its appeal in global capital markets and position it favorably in international competition [2]

Group 1 - Cambrian Technology announced a private placement of A-shares at a price of 1195.02 CNY per share, which is a 10% discount compared to the closing price [1] - The total number of shares issued is 3.3349 million, raising a total of 3.985 billion CNY, with a net amount of 3.953 billion CNY after deducting issuance costs [1] - The funds will be used for chip and software platform projects aimed at large models and to supplement working capital [1] Group 2 - Hainan Huatie's subsidiary terminated a 3.69 billion CNY computing power service agreement due to market conditions and lack of purchase orders [2] - The agreement was not executed and did not incur any costs, thus not affecting the company's operations or long-term strategy [2] Group 3 - Dongfang Fortune's shareholders plan to transfer 1.5% of the company's shares through an inquiry method, totaling 23.8 million shares [3] - The shares being transferred are free from restrictions and the transferors have clear ownership [3] Group 4 - Zhong Wuyun signed a significant sales contract worth 615 million CNY for drone systems with a related party [4] - The related party holds a 6.44% stake in Zhong Wuyun, complying with the relevant regulations [4] Group 5 - Nanxin Pharmaceutical is under investigation by the China Securities Regulatory Commission for suspected violations in annual report disclosures [5] - The company will cooperate with the investigation and fulfill its disclosure obligations [5] Group 6 - Heng Rui Pharmaceutical received approval for clinical trials of its innovative anti-tumor drug HRS-2329, which has no similar drugs approved globally [6] - The total R&D investment for this project is approximately 60.15 million CNY [6] Group 7 - Hao Wei Group's controlling shareholder plans to reduce holdings by up to 24 million shares, representing 1.99% of the total shares [7][8] - The reduction is aimed at repaying loans and lowering pledge rates [8] Group 8 - Tuo Jing Technology's employee stock platforms plan to reduce holdings by up to 1% of the company's shares, totaling 281.16 thousand shares [9] Group 9 - Tonghuashun's shareholder completed the reduction of 699.1 thousand shares, which is 0.13% of the total shares [10] - The reduction aligns with previous plans and does not affect the company's governance structure [10] Group 10 - Fosun Pharma's subsidiary received approval for clinical trials of a new drug for treating advanced solid tumors, with no similar combination therapies approved globally [11] - The total R&D investment for this treatment plan is approximately 150 thousand CNY [11] Group 11 - Hangzhou Bank reported that China Life has completed the reduction of 50.79 million shares, accounting for 0.70% of the total shares [12] - The total amount raised from the reduction was approximately 833 million CNY [12] Group 12 - Jiao Da Sino announced that its chairman is under detention, temporarily unable to fulfill his duties [13] - The company appointed the deputy general manager to perform the chairman's responsibilities during this period [13] Group 13 - New Yisheng's controlling shareholder plans to transfer 1.15% of the company's shares, totaling 11.43 million shares, due to personal funding needs [14] - The transfer price will be no less than 70% of the average trading price over the previous 20 trading days [14] Group 14 - ST Zhengping's stock has experienced abnormal fluctuations, leading to a suspension for investigation [15] - The stock price increased by 101.86% from September 1 to September 30, with significant deviations from the market index [16]

Core Viewpoint - 罗欣药业 plans to raise up to 842 million yuan through a private placement of shares to fund innovative drug research, raw material drug expansion, and working capital supplementation, without changing its control [1] Fundraising and Project Allocation - The company intends to issue no more than 326,276,545 A-shares, raising a total of up to 842 million yuan for various projects [1] - Among the fundraising projects, 226 million yuan is allocated for innovative drug research, with 207 million yuan sourced from the raised funds [2] - The innovative drug research includes clinical studies for LX22001 and Tegoprazan, aimed at expanding treatment indications and enhancing market competitiveness [2] Raw Material Drug Expansion and Technological Upgrades - The raw material drug expansion and freeze-drying workshop technological upgrade project has a total investment of 476 million yuan, with 383 million yuan planned to be funded from the raised capital [3] - This project aims to upgrade production standards and respond to regulatory trends, while also supporting the company's international development strategy [3] Financial Performance and Historical Context - Since its A-share listing in 2020, the company has faced significant financial instability, with cumulative losses exceeding 2.8 billion yuan over the past three years [4] - Revenue figures from 2020 to 2024 show a decline from 60.96 billion yuan to 26.47 billion yuan, with a notable drop of 44.62% in 2022 [5] - The company reported a net profit of 3.21 billion yuan in 2020, which fell to a loss of 12.25 billion yuan in 2022, reflecting a 401.63% decline [5] Market Position and Product Development - The company has been actively developing innovative drugs, with Tegoprazan being a significant contributor to revenue growth, particularly in the digestive system category [6] - Sales of Tegoprazan increased by 163.63% and 43.11% in 2023 and 2024, respectively, with a nearly 140% increase in the first half of 2025 compared to the previous year [6] Research and Development Expenditure - R&D expenses have been declining from 361 million yuan in 2020 to 87 million yuan in 2024, while sales expenses have remained significantly higher [7] - The company reported a revenue of 1.077 billion yuan in the first half of 2025, a 14.45% decrease year-on-year, but a net profit of 17.69 million yuan, marking a 119.95% increase [7] Management Changes - The company has experienced frequent changes in its management team, with several key resignations occurring in 2024 and 2025 [7]

Core Viewpoint - Heng Rui Medicine has received a drug registration application acceptance notice from the National Medical Products Administration for its innovative drug, injection Karilizumab combined with Apalutamide capsules, for first-line treatment of recurrent or metastatic cervical cancer patients [1] Group 1: Drug Development - The application for market approval is based on a Phase III clinical study comparing Karilizumab combined with Apalutamide to platinum-based chemotherapy for recurrent or metastatic cervical cancer [1] - The study was led by Professor Wu Xiaohua from Fudan University Shanghai Cancer Center, involving 45 domestic centers and enrolling 443 patients [1] - The study achieved its primary endpoint by July 2025, demonstrating that the experimental group significantly outperformed the control group in terms of progression-free survival (PFS) and overall survival (OS) [1] Group 2: Efficacy and Safety - The results confirm the efficacy and safety of Karilizumab combined with Apalutamide as a first-line treatment for patients with recurrent or metastatic cervical cancer [1]

Core Viewpoint - Heng Rui Medicine has received approval from the National Medical Products Administration for clinical trials of HRS-2329 tablets in patients with advanced solid tumors carrying RAS mutations or amplifications [1] Group 1: Company Developments - HRS-2329 tablets are an innovative anti-tumor drug independently developed by the company, with no similar drugs approved for market domestically or internationally [1] - The total research and development investment for the related project has reached approximately 60.15 million yuan [1] Group 2: Regulatory and Market Context - Following the approval of the clinical trial notification, the drug must undergo clinical trials and receive further review and approval from the National Medical Products Administration before it can be produced and marketed [1]

Core Viewpoint - Heng Rui Medicine (600276.SH) has received a drug registration application acceptance notice from the National Medical Products Administration for its innovative drug, injection Karilizumab combined with apple acid famitinib capsules, for first-line treatment of recurrent or metastatic cervical cancer patients [1] Group 1 - The company and its subsidiary, Suzhou Shengdiya Biopharmaceutical Co., Ltd., have had their application accepted for a new treatment regimen [1] - Injection Karilizumab has been approved for multiple indications in China, including treatment for advanced hepatocellular carcinoma patients who have previously received sorafenib and/or oxaliplatin-based chemotherapy since March 2020 [1] - Apple acid famitinib capsules were approved in May 2025 for use in combination with injection Karilizumab for recurrent or metastatic cervical cancer patients who failed platinum-based chemotherapy but have not received bevacizumab treatment [1]

Core Event - Heng Rui Medicine received the acceptance notice from the National Medical Products Administration for the marketing authorization application of the innovative drug injection of Carrelizumab combined with Apalutamide capsules for first-line treatment of recurrent or metastatic cervical cancer patients [1] Clinical Trial Data - Trial Design: Phase III randomized controlled multicenter study involving 45 domestic centers with 443 patients enrolled [2] - Trial Results: The trial met its primary endpoint, with the experimental group showing significantly better progression-free survival (PFS) and overall survival (OS) compared to the control group [2] Market Background - Indication: Cervical cancer has the highest incidence and mortality rates among female reproductive system tumors in China, indicating an unmet clinical need [2] - Competitive Landscape: The global sales of anti-PD-1 antibodies are projected to reach approximately $41.546 billion in 2024 [2] R&D Investment - Cumulative R&D investment in Carrelizumab is approximately 3.026 billion yuan [2] - Cumulative R&D investment in Apalutamide is approximately 258 million yuan [2]

Core Viewpoint - Fosun Pharma's subsidiary, Fuhong Hanlin, has received approval from the National Medical Products Administration to conduct clinical trials for HLX43 in combination with HLX07 for the treatment of advanced/metastatic solid tumors [1] Group 1: Clinical Trial Approval - The approved clinical trial will focus on the combination of HLX43, a novel DNA topoisomerase I inhibitor, and HLX07, an innovative biological drug targeting EGFR, for treating advanced/metastatic solid tumors [1] - The clinical trials are planned to be conducted in China once conditions are met [1] Group 2: Financial Investment - As of August 2025, the cumulative R&D investment for this treatment plan is approximately RMB 150,000 [1] Group 3: Market Context - There are currently no similar combination therapies approved for market globally [1]