Market Overview - The Hong Kong stock market showed strong performance on August 5, with the Hang Seng Index rising by 0.68% to close at 24,902.53 points, and the Hang Seng Tech Index increasing by 0.73% [2][3] - The total market turnover was 229.4 billion HKD, slightly lower than the previous trading day, with a net inflow of southbound funds amounting to 23.426 billion HKD [2] Biopharmaceutical Sector - The biopharmaceutical stocks gained significant attention, particularly Junshi Biosciences, which surged by 33.75% to 32.18 HKD per share, marking a year-to-date increase of 177.89% [4][7] - Guojin Securities reported a rising enthusiasm for global dual-antibody development, indicating a window for innovation in the domestic antibody industry, with Junshi Biosciences having extensive experience in monoclonal antibody development [7] Junshi Biosciences - Junshi Biosciences completed a placement of 41 million new shares on June 20, raising approximately 1.026 billion HKD, with 70% of the funds allocated for innovative drug research and 30% for general corporate purposes [8] - The company has developed a series of innovative dual-antibody molecules based on its experience in monoclonal antibodies, including the PD-1 monoclonal antibody, Toripalimab, which was one of the first domestically launched PD-1 inhibitors [7] Other Notable Stocks - Zhujiang Steel Pipe experienced a rise of 27.87% following an announcement regarding a proposed reduction of share premium to offset cumulative losses, which will result in a cumulative profit of approximately 92.224 million RMB by the end of 2024 [9][11] - Xindong Company, a gaming stock, saw a significant increase of 24.76% after announcing an expected revenue of at least 3.05 billion RMB for the first half of 2025, representing a growth of approximately 37% year-on-year [12][16]

Core Viewpoint - The company proposes to reduce the share premium by approximately RMB 767 million to offset its accumulated losses as of December 31, 2024 [1] Group 1 - The suggested reduction in the share premium account aims to offset the company's accumulated losses [1] - After the proposed offset, the company's accumulated losses will amount to RMB 1.728 billion [1] - Following the offset, the group's accumulated profit as of December 31, 2024, will be RMB 92.224 million [1]

Core Viewpoint - The company proposes to reduce its share premium by approximately RMB 767,097,000 to offset accumulated losses, which will improve the financial clarity for shareholders and investors [1] Financial Summary - The proposed reduction will result in accumulated losses of RMB 1,728,484,000 as of December 31, 2024 [1] - After the offset, the group's accumulated profit will be RMB 92,224,000 as of the same date [1] Board's Perspective - The board believes that the share premium reduction will eliminate accumulated losses, benefiting the overall interests of the company and its shareholders [1] - Despite the reduction in share premium, the company currently has no plans to distribute dividends to shareholders [1]