Investment Rating - The report assigns a "Buy" rating to the company, believing its current stock price is undervalued due to a high implied weighted average cost of capital of 12% [1] Core Insights - The report highlights that the company, Innovent Biologics, is expected to maintain its leading position in the Chinese biotechnology sector, driven by a strong pipeline of novel molecules targeting next-generation immuno-oncology [1] - Encouraging preliminary data has been obtained for IBI363, a PD-1/IL-2α bispecific antibody, which exhibits differentiated drug characteristics in immunotherapy and cold tumors [1] - The company's robust commercialization capabilities and deep collaboration with global partners, particularly Eli Lilly, are also emphasized as key strengths [1] Summary by Relevant Sections - **Investment Rating**: "Buy" rating with a target price of HKD 102.85 based on risk-adjusted discounted cash flow [1] - **Market Position**: Innovent Biologics is positioned as a leader in the Chinese biotech field, supported by a strong pipeline and strategic partnerships [1] - **Product Development**: IBI363 shows promising initial results, indicating potential for differentiation in the competitive landscape of immunotherapy [1] - **Commercialization Strength**: The company’s strong commercial capabilities and partnerships enhance its market prospects [1]

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。 Shanghai Henlius Biotech, Inc. 上海復宏漢霖生物技術股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2696） 本公告由上海復宏漢霖生物技術股份有限公司（「本公司」）自願作出，以告知 本公司股東及潛在投資者本公司最新業務更新。 本公司董事會（「董事會」）欣然宣佈，近日，注射用HLX43（靶向PD-L1抗體 偶聯藥物）（「HLX43」）聯合HLX07（重組抗EGFR人源化單克隆抗體注射液） （「HLX07」）及漢斯狀® （斯魯利單抗注射液）（「漢斯狀®」）用於晚期實體瘤治 療的臨床試驗申請獲國家藥品監督管理局（「NMPA」）批准。本公司擬於條件 具備後於中國境內開展相關臨床試驗。 1 B. 關於HLX43、HLX07及漢斯狀® HLX43是由本公司利用許可引進的新型DNA拓撲異構酶I抑制劑小分子毒 素－肽鏈連接符與本公司自主研發的靶向PD-L1的抗體進行偶 ...