智通财经APP讯，药康生物(688046.SH)披露2025年第三季度报告，公司前三季度实现营收5.76亿元，同 比增长12.92%;归属于上市公司股东的净利润1.1亿元，同比增长11.9%;扣非净利润9279万元，同比增长 29.21%;基本每股收益0.27元。 ...

Core Insights - The Hong Kong stock market saw a net inflow of 100.18 billion HKD from northbound trading on October 22, with the Shanghai Stock Connect contributing 66.93 billion HKD and the Shenzhen Stock Connect contributing 33.25 billion HKD [1] Group 1: Stock Performance - The most bought stocks included the Tracker Fund of Hong Kong (02800), CNOOC (00883), and SMIC (00981) [1] - The most sold stocks were Hua Hong Semiconductor (01347), Xiaomi Group-W (01810), and Alibaba Group-W (09988) [1] - Alibaba Group-W had a buy amount of 19.67 billion HKD and a sell amount of 21.47 billion HKD, resulting in a net outflow of 1.80 billion HKD [2] - CNOOC (00883) received a net inflow of 14.24 billion HKD, supported by reports of long-term growth potential amid oil price fluctuations [5] - SMIC (00981) had a net inflow of 6.42 billion HKD, while Hua Hong Semiconductor (01347) faced a net outflow of 2.97 billion HKD [5] Group 2: Market Trends and Analyst Insights - Analysts suggest that the current external uncertainties, particularly the US-China tensions, are causing short-term market volatility, but a better entry point for investments may arise once these uncertainties diminish [4] - The semiconductor sector is experiencing a split, with a positive outlook on AI-driven growth, while domestic production capabilities are expected to accelerate due to US export controls [5] - Pop Mart (09992) reported a strong third-quarter performance with revenue growth of 245% to 250%, leading to an upward revision of earnings forecasts by Bank of America [5] - A strategic partnership between Innovent Biologics (01801) and Takeda Pharmaceutical is set to yield a total potential deal value of up to 114 billion USD, indicating significant growth prospects in the biotech sector [6][7]

药康生物公告，第三季度营收为2.01亿元，同比增长18.56%；净利润为3899.46万元，同比增长 78.25%。前三季度营收为5.76亿元，同比增长12.92%；净利润为1.1亿元，同比增长11.90%。 ...

Core Insights - The company, CloudTop New Medicine, held a strategic investor meeting on October 21, where the new chairman, Wu Yifang, outlined the company's strategic direction focusing on key initiatives such as strategic transactions, R&D innovation, and stakeholder management [1] - The controlling shareholder, Kangqiao Capital, will not reduce its stake in the company in the short term [1] - The company aims to enhance its product pipeline through self-research, licensing, acquisitions, and capital empowerment, with a goal to maximize commercial value and expand globally [1] Product Pipeline and Financial Projections - CloudTop New Medicine's product pipeline in key therapeutic areas such as nephrology, infectious diseases, and autoimmune diseases is entering a critical harvest period [1] - The company estimates that sales for its product, Naisankang®, will reach between RMB 1.2 billion and RMB 1.4 billion for the year, with a target of RMB 2.4 billion to RMB 2.6 billion by 2026 [1] - The product Weishiping® (Aicuo Mod) is expected to become the next significant product for the company [1] Future Plans and Collaborations - The company plans to introduce more than three heavyweight products in the next 6 to 12 months, with potential domestic sales peak exceeding RMB 10 billion, aiming for an overall domestic sales peak of over RMB 20 billion [2] - CloudTop New Medicine has signed a cooperation development letter of intent with I-Mab for the treatment of retinal diseases, which will strengthen collaboration in innovative R&D and international development [2] - The global anti-VEGF ophthalmic drug market is projected to reach approximately USD 40 billion by 2030, indicating significant growth potential in this sector [2]

Core Viewpoint - Tianfeng Securities maintains a "Buy" rating for Basilea Pharmaceutica-B (02616), highlighting the promising efficacy and safety data of CS2009 (PD-1/VEGF/CTLA-4 tri-specific antibody) presented at ESMO, with expectations for its clinical and commercial potential in the future [1] Group 1: Clinical Data and Efficacy - CS2009 showed preliminary efficacy data at the 2025 ESMO conference, with 72.2% of 72 advanced solid tumor patients still undergoing treatment as of October 19, and over 51% of patients having previously received immunotherapy, with a median follow-up of only 1.9 months [1] - All dosage groups exhibited anti-tumor activity with a dose-dependent increase trend; the overall response rate (ORR) was 12.2% (6/49) and the disease control rate (DCR) was 71.4% (35/49) despite a short median follow-up time of approximately 2 months [4] - CS2009 demonstrated a favorable ORR and high DCR (71%) compared to other dual antibodies, even with a significantly shorter follow-up time and a higher rate of previously treated patients [4] Group 2: Safety Profile - CS2009 exhibited a good safety profile, with a grade 3 or higher treatment-related adverse event (TRAE) rate of only 13.9% and a grade 3 or higher immune-related adverse event (irAE) rate of 4.2%, with no grade 4 or 5 TRAEs reported [3] - The incidence of grade 3 or higher TRAEs and those leading to treatment discontinuation was significantly lower than other immuno-oncology dual antibodies and combination therapies, indicating a safety advantage for CS2009 [3] Group 3: Future Development Plans - The global multi-center phase I/II clinical trial for CS2009 has been initiated, with the first patient enrolled in Australia; more data is expected to be presented at the 2026 Q2 ASCO conference [5] - The phase III registration clinical plan is set to include first-line NSCLC (AGA negative, PD-L1 TPS >= 1%), first-line squamous and non-squamous NSCLC (AGA negative, combined with platinum-based chemotherapy), and other first-line solid tumor indications, with an expected launch in 2026 [5]

Core Viewpoint - Tianfeng Securities maintains a "Buy" rating for CStone Pharmaceuticals-B (02616), highlighting the initial efficacy and safety data of CS2009 (PD-1/VEGF/CTLA-4 tri-specific antibody) presented at ESMO, and anticipates further clinical and commercial potential for the tri-specific antibody [1] Group 1: Clinical Data and Efficacy - CStone Pharmaceuticals presented preliminary data from the Phase I clinical study of CS2009 at the 2025 ESMO annual meeting, with 72.2% of 72 advanced solid tumor patients still undergoing treatment as of October 19, and over 51% of patients having previously received immunotherapy, with a median follow-up period of only 1.9 months [1] - The design of the tri-specific antibody shows excellent synergistic effects, enhancing anti-tumor activity in the tumor microenvironment (TME) while avoiding interference with peripheral CTLA-4 single-positive T cells, significantly broadening the therapeutic window [2] - All dose groups observed anti-tumor activity with a dose-dependent increasing trend; with a median follow-up time of approximately 2 months, the overall response rate (ORR) was 12.2% and the disease control rate (DCR) was 71.4% [4] Group 2: Safety Profile - CS2009 demonstrated good safety at the ESMO conference, with a grade 3 or higher treatment-related adverse event (TRAE) incidence of only 13.9% and grade 3 or higher immune-related adverse event (irAE) incidence of 4.2%, with no grade 4 or 5 TRAE reported [3] - The incidence of grade 3 or higher TRAE and TRAE leading to treatment discontinuation was significantly lower than other immuno-oncology (IO) dual antibodies and combination therapies, indicating a safety advantage for CS2009 [3] Group 3: Future Development Plans - The global multi-center Phase I/II clinical trial for CS2009 has been initiated, with the first patient enrolled in Australia, and more data expected to be presented at the ASCO conference in Q2 2026 [4] - The Phase III registration clinical plan is expected to start in 2026, targeting various indications including first-line non-small cell lung cancer (NSCLC) and other solid tumors in combination with standard chemotherapy regimens [4]

Core Viewpoint - Alector's stock plummeted nearly 60% in pre-market trading following the announcement from GlaxoSmithKline that their collaborative experimental drug, latozinemab, failed to slow the progression of dementia, marking another setback in the development of potential dementia treatments [1] Company Summary - Alector experienced a significant decline in stock value, dropping close to 60% [1] - The failure of latozinemab represents a major setback for Alector in its efforts to develop effective treatments for dementia [1] Industry Summary - The announcement highlights ongoing challenges in the biotechnology sector, particularly in the development of drugs aimed at treating neurodegenerative diseases such as dementia [1] - The failure of another potential treatment underscores the high-risk nature of drug development in the biotech industry [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，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Transcenta Holding Limited 創勝集團醫藥有限公司 （以存續方式於開曼群島註冊的有限公司） （股份代號：6628） 有關就解決截至2024年12月31日止年度的 年度報告內無法表示意見所採取措施及行動的最新進展 創勝集團醫藥有限公司（「本公司」，連同其附屬公司統稱為「本集團」）董事會 （「董事會」）謹此向股東及潛在投資者提供有關就解決其截至2024年12月31日止年 度的年度報告（「年報」）內所載的無法表示意見（「無法表示意見」）所採取措施及 行動的執行進度的最新進展。本公告所用但並無另行界定的詞彙應與年報中所賦 予該等詞彙的涵義相同。 自於2025年4月22日刊發年報、於2025年7月11日刊發最新進展公告及於2025年 8月27日刊發中期業績公告以來，本集團就最初於年報內所載的九項關鍵措施持 續取得切實進展，該等措施旨在增強其財務狀況、提升流動性並解決無法表示意 見。有關執行 ...

Core Viewpoint - The mRNA drug developer DeepTrust Bio plans to go public in Hong Kong, potentially raising around $200 million, with discussions on IPO scale and timing still in preliminary stages [1] Company Overview - DeepTrust Bio was established in 2019 and is one of the few companies globally that possesses core technology for LNP (lipid nanoparticle) design [1] - The company has developed an mRNA-LNP technology platform with proprietary intellectual property, including a library of over 5,000 ionizable lipid resources for screening LNP carriers suitable for various therapeutic scenarios [1] - DeepTrust Bio has multiple internal research pipelines in the fields of infectious disease vaccines, rare diseases, and tumor immunotherapy [1] Investment Background - According to Qichacha data, DeepTrust Bio has undergone several rounds of financing, with investors including Huaxing Capital, Dinghui Investment, CPE Yuanfeng, Qianhai Fangyuan Capital, E Fund, Blue Ocean Capital, Zhongke Chuangxing, Qianhai Mother Fund, Dongpingheng Capital, Junlian Capital, Zhifei Biological, and Lanting Capital [1]

Group 1 - The core point of the news is that XinNuoWei's stock price has dropped by 5.02%, currently trading at 40.65 CNY per share, with a total market capitalization of 57.097 billion CNY [1] - XinNuoWei is primarily engaged in the research, production, and sales of functional foods, with 88.93% of its revenue coming from functional foods and raw materials, 8.91% from biopharmaceuticals, and 2.16% from other sources [1] Group 2 - Dongwu Fund has a significant holding in XinNuoWei, with the Dongwu Smart Medical Quantitative Mixed A Fund holding 220,100 shares, representing 5.97% of the fund's net value, making it the seventh-largest holding [2] - The Dongwu Smart Medical Quantitative Mixed A Fund has a year-to-date return of 26.05%, ranking 3386 out of 8160 in its category, and a one-year return of 15.64%, ranking 4664 out of 8026 [2] - The fund manager, Mao Kejun, has been in charge for 4 years and 104 days, with the fund's total asset size currently at 280 million CNY [2]