12月22日，格隆汇于线上举办"科技赋能·资本破局"分享会。在格隆汇"金格奖"年度卓越公司评选中， 东曜药业(1875.HK)凭借其在生物医药领域的持续创新力与稳健成长表现，荣获"年度卓越生物医药企 业"奖项。 据悉，"年度卓越生物医药企业"奖项聚焦于企业的研发创新能力、核心产品竞争力、商业化进展及可持 续发展潜力，旨在表彰在技术突破、管线布局、临床价值及市场前景方面表现突出，并为行业与投资者 创造长期价值的优质生物科技公司。评选综合了行业专家评审、定量数据分析及市场反馈等多维度考 量。 在当前生物科技行业聚焦差异化创新与精益发展的背景下，东曜药业获此殊荣，标志着市场对其独特发 展路径与平台价值的深度认可。 一体化生态布局，稳健迈向价值兑现期 凭借前瞻的战略卡位与扎实的平台能力，东曜药业如今已将各项前瞻布局转化为切实的财务表现与成长 动能，并勾勒出一条清晰的加速增长的价值曲线。 那么，东曜药业做对了什么？ 01 打造差异化ADC技术平台，构筑核心竞争力壁垒 从战略视角来看，东曜药业的独到之处，首先在于其前瞻性地聚焦ADC这一技术壁垒高、市场前景广 阔的黄金赛道，不仅深耕ADC自主研发，更成功构建了覆盖研发、工 ...

集团主要从事其候选药物的研发，并拥有及运营一条符合GMP标准的生物反应器生产线，该生产线自 2019年底投入运营。集团配备完善的上下游抗体原液生产线、制剂生产线及其他生产设施。集团的生产 设施符合GMP标准亦证明其药物生产环节为高质量标准。集团配备完善的生产管理组织架构，拥有丰 富经验的专业生产团队，与其生产设施相辅相成。 考虑到集团为满足自身临床试验及商业化而对药物生产的需求之外，集团可在适当的商机出现时更有效 利用富余产能。董事认为，订立CDMO服务框架协议将能更有效利用集团的富余产能，可为集团整体产 生补充现金流量。 格隆汇11月28日丨乐普生物-B(02157.HK)公告，于2025年11月28日，公司与乐普医疗订立CDMO服务框 架协议，据此，公司及╱或其附属公司同意向乐普医疗及╱或其附属公司提供CDMO技术服务。 ...

Core Viewpoint - He Yuan Bio disclosed a research meeting with investors, highlighting its focus on domestic clients and the growth in the cell and gene therapy sector despite challenges in the broader healthcare financing landscape [1][2]. Company Overview - He Yuan Bio hosted an event titled "I am a Shareholder - Walk into the Listed Company" on July 18, 2025, attended by over 10 investors [2]. - The company is led by key personnel including Chairman and General Manager Pan Oudong, and other executives participated in the discussions [1]. Financial Performance - In 2024, the company achieved revenue of 248.15 million yuan, a year-on-year increase of 21.16%, with specific growth in CRO and CDMO segments [4]. - For Q1 2025, revenue was 52.85 million yuan, a decline of 11.29% compared to the previous year, primarily due to a drop in CDMO revenue [4]. Client Distribution - The company primarily serves domestic clients, with plans to expand its CRO services to pharmaceutical enterprises and enhance its international presence in the CDMO sector [3]. Data Security Measures - He Yuan Bio emphasizes data security, having achieved ISO27001 certification and implementing robust data management and protection systems [5]. CDMO Dependency - The company noted that the complexity of new drug development increases reliance on CDMO services, with over 65% of gene therapy companies outsourcing production [6]. Competitive Advantages - He Yuan Bio possesses a comprehensive CRO/CDMO technology platform, advanced GMP production facilities, and a strong project management capability, which collectively enhance its competitive edge in the cell and gene therapy market [6][7][8]. Cash Flow Situation - In 2024, the company reported a net cash flow of -218.09 million yuan, with ongoing challenges in cash flow due to extended payment cycles from clients [9]. - As of Q1 2025, the company continued to experience negative cash flow but anticipates improvement with the recovery of the investment environment [9]. Accounts Receivable and Bad Debt - As of December 31, 2024, the company had accounts receivable of 85 million yuan, with a bad debt provision of 6.96 million yuan, indicating a low risk of bad debts due to a strong client base [9]. Market Trends - In H1 2025, global healthcare financing decreased by 10%, while financing in China's cell and gene therapy sector increased to approximately 409 million USD, reflecting a recovery in this niche market [9].

Group 1 - The company, King’s Ray Biotechnology, announced a share transfer agreement to acquire 300 million shares of Probio Cayman Class A preferred shares for approximately $225 million (around HKD 1.7 billion) [1] - Following the transaction, the company's direct and indirect ownership in Probio Cayman will increase from 71.72% to 85.09% [1] - Probio Cayman will continue to be an indirect non-wholly owned subsidiary of the company after the completion of the transaction [1] Group 2 - Probio Cayman and its subsidiaries provide comprehensive Contract Development and Manufacturing Organization (CDMO) services in the biotechnology and pharmaceutical sectors, including antibody drug discovery and clinical development [2] - The company has established Probio Cayman as a leading CDMO service provider, empowering innovators in antibody development, protein therapy, cell therapy, and gene therapy [2] - Probio Cayman is expected to generate cash inflows from a licensing agreement with Lixin Pharmaceutical Technology Co., Ltd. regarding the PD-1 VHH antibody, which will further enhance its future development prospects [2]