Core Insights - Jiangsu Province's Federation of Industry and Commerce released the "2025 Jiangsu Private Enterprises Top 100" series lists, highlighting Suzhou's dominance in the rankings [1][2] Group 1: Rankings Overview - Suzhou has 53 companies listed in the "2025 Jiangsu Private Enterprises Top 200," with 7 companies in the top ten [1] - Hengli Group ranks first with a projected revenue of 871.5 billion yuan for 2024, followed by Shenghong Holding Group, Shagang Group, Hengtong Group, and Yongzhuo Holding [1] - Among the listed companies, 11 have revenues exceeding 100 billion yuan, with Suzhou accounting for 7, representing 63.6% of the total [1] Group 2: Manufacturing and R&D - Suzhou has 28 companies in the "2025 Jiangsu Private Enterprises Top 100 in Manufacturing," with the same top five companies as the overall ranking [1] - The "2025 Jiangsu Private Enterprises Top 100 in R&D Investment" includes 36 Suzhou companies, with Shagang Group, Shenghong Holding Group, Hengtong Group, GCL Group, and Sinopharm Holding in the top ten [1] Group 3: Economic Development - The Suzhou Federation of Industry and Commerce emphasizes the importance of large-scale private enterprise research, aiming to enhance the role of listed companies as benchmarks for high-quality economic development [2] - The number of Suzhou companies on the lists reflects the favorable business environment and strong growth of private enterprises in the region [2]

Core Viewpoint - 基石药业-B (02616) is preparing to present clinical data for its drug candidates CS2009 and CS5001 at the upcoming ESMO annual meeting in October 2025, highlighting its advancements in cancer treatment [1] Group 1: Clinical Trials and Data - CS2009, a tri-specific antibody targeting PD-1/VEGF/CTLA-4, has preliminary data from a Phase I dose-escalation study involving 9 patients, which will be presented at the ESMO conference [1] - The company will showcase initial data from approximately 70 patients with advanced solid tumors for CS2009, marking the first known clinical data release globally for this tri-specific antibody [1] - CS5001, an antibody-drug conjugate targeting ROR1, has its Phase Ib clinical study design summary published on the ESMO website [1]

格隆汇10月13日丨基石药业-B(02616.HK)发布公告，2025年欧洲肿瘤内科学会(ESMO)年会即将于2025 年10月17日至21日在德国柏林举行。基石药业核心临床管线CS2009(PD-1/VEGF/CTLA-4三特异性抗体) 进行中的 I期剂量递增临床数据摘要和CS5001(ROR1 抗体偶联药物[ADC])进行中的Ib期临床研究设计摘 要目前已在ESMO官网公布。 其中，CS2009的摘要仅涵盖截至2025年5月8日(摘要提交截止日)9例患者的I期起点数据，旨在满足 ESMO的摘要提交要求。 在即将正式召开的ESMO大会上，基石药业将以壁报形式展示CS2009在约70例晚期实体瘤患者中的I期 剂量递增临床研究初步数据，这也将是目前已知全球首个关于PD-1/VEGF/CTLA-4三特异性抗体的临床 数据发表。 ...

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之內容概不負責，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。 截至本公告日期，本公司並未根據股份購回授權購回任何股份。股東及潛在投資 者應注意，本公司之場內股份購回將視乎市況進行，並將由董事會及╱或其授權 人士全權酌情決定。概無法保證任何購回的時間、數目或價格，或本公司是否將 進行任何購回。股東及潛在投資者在買賣本公司股份時務請審慎行事。 （於開曼群島註冊成立的有限公司） （股份代號：9966） 自願公告 場內股份購回 本公告乃由康寧傑瑞生物製藥（「本公司」，連同其附屬公司，統稱「本集團」）自願 作出，旨在向本公司股東（「股東」）及潛在投資者提供有關本公司擬議股份購回的 信息。 本公司董事（「董事」）會（「董事會」）有意宣佈，根據董事獲授出的一般授權（「股 份購回授權」，由股東於2025年6月12日舉行的股東週年大會上批准），董事會於 2025年10月12日決議不時自公開市場購回本公司普通股（「股份」），購回股份的金 額最高為20百萬港元。股份購回授權將持續有效， ...

Group 1 - The National Healthcare Security Administration (NHSA) is intensifying monitoring and handling of "dual pricing" practices in retail pharmacies, which discriminate between insured and uninsured patients, potentially leading to price fraud and increased medication costs [1] - The NHSA's measures include self-inspection, multi-departmental verification, and inclusion in surprise inspections, aiming for precise regulation and long-term fairness in healthcare insurance [1] Group 2 - BGI Genomics has licensed its core sequencing technology, CoolMPS, to Swiss biotech company Swiss Rockets for a total amount of no less than $120 million, granting exclusive rights for development, production, registration, and commercialization outside of the Asia-Pacific region [2] - This licensing deal is expected to generate significant cash flow and stable long-term revenue for BGI Genomics while reducing compliance and registration risks during international expansion [2] Group 3 - Kangtai Medical received a warning letter from the FDA due to non-compliance with federal regulations regarding its medical devices exported to the U.S., following an inspection in June 2025 [3] - The warning could significantly impact Kangtai's operations in the U.S. market, which accounts for nearly 20% of its revenue, and may lead to temporary product bans and resource-intensive rectification efforts [3] Group 4 - Novo Nordisk has decided to completely terminate its cell therapy research, affecting projects aimed at treating type 1 diabetes and other major diseases, resulting in nearly 250 job losses [4] - This decision is part of a broader restructuring plan led by the new CEO, aiming for annual cost savings of approximately $1.3 billion by the end of 2026, with a total of 9,000 jobs to be cut globally [4] Group 5 - Chengdu Nureter Medical has completed a D-round financing of approximately 800 million RMB, led by Shenzhen Capital Group and PICC Capital, with participation from several well-known investment firms [5] - The funding is expected to accelerate the advancement of four clinical pipelines, particularly the phase III trial of liver cancer drug NRT6003, despite the global nuclear medicine market being dominated by leading companies [5][6]

Group 1 - The National Healthcare Security Administration (NHSA) has issued a notice to strengthen the monitoring and handling of "dual pricing" practices in retail pharmacies, which discriminate against insured patients, potentially leading to price fraud and increased medication costs [2][3] - The NHSA's measures include self-inspection, multi-departmental verification, and inclusion in surprise inspections, aiming to ensure fairness in healthcare insurance [2] Group 2 - BGI Genomics has licensed its core sequencing technology, CoolMPS, to Swiss biotech company Swiss Rockets for a total amount of at least $120 million, granting exclusive rights for development, production, registration, and commercialization outside of China [2][3] - This licensing agreement is expected to generate significant cash flow and stable long-term revenue for BGI Genomics while reducing compliance and registration risks during international expansion [3] Group 3 - Kangtai Medical received a warning letter from the FDA regarding non-compliance of its medical devices exported to the U.S., which could significantly impact its operations in the American market, accounting for nearly 20% of its revenue [4] - The warning letter may lead to a temporary ban on products in the U.S., and if rectification takes over six months, it could pressure revenue and result in loss of customers [4] Group 4 - Novo Nordisk has decided to terminate all research in cell therapy, affecting its potential "curative" project for type 1 diabetes and leading to layoffs of nearly 250 employees in that department [5] - This decision is part of a restructuring plan aimed at achieving annual cost savings of approximately $1.3 billion by the end of 2026, with a total of 9,000 employees expected to be laid off globally [5] Group 5 - Chengdu Nureter Medical has completed a D-round financing of approximately 800 million RMB, led by Shenzhen Capital Group and PICC Capital, with participation from several well-known investment firms [6] - The funding is expected to accelerate the advancement of four clinical pipelines, particularly aiding the Phase III trial of liver cancer drug NRT6003, despite the global nuclear medicine market being dominated by leading companies [6][7]

受理号：CXSS2400023、CXSS2400024、CXSS2400025、CXSS2400026 证书编号：2025S03097、2025S03098、2025S03099、2025S03100 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的 真实性、准确性和完整性依法承担法律责任。 近日，厦门特宝生物工程股份有限公司（以下简称"公司"）收到国家药品监督管理局核准签发的《药品 注册证书》，公司产品派格宾联合核苷（酸）类似物用于成人慢性乙型肝炎患者的HBsAg持续清除的增 加适应症（以下简称"增加适应症"）上市许可申请获得批准。现将有关情况公告如下： 一、药品基本情况 药品名称：派格宾? 通用名称：聚乙二醇干扰素α-2b注射液 申请事项：药品注册（境内生产） 我国2022版《慢性乙型肝炎防治指南》中指出："对于部分适合条件的患者，应追求临床治愈（又称功 能性治愈）"，即停止所有治疗药物6个月或更长时间HBsAg持续清除伴HBV DNA持续抑制。HBsAg持 续清除是一个重要的临床治疗目标，目前被认为是获得HBV功能性治愈的标志。本次派格宾获批增加 适应症是基于一 ...

Core Viewpoint - The approval of the expanded indication for Pegbiv, a drug developed by Xiamen Tebao Biological Engineering Co., Ltd., marks a significant advancement in the treatment of chronic hepatitis B, enhancing its market competitiveness and potential for clinical cure [1][5]. Drug Basic Information - Drug Name: Pegbiv - Generic Name: Pegylated Interferon α-2b Injection - Application: Drug registration (domestic production) - Approval Conclusion: The drug is approved for use in adults with chronic hepatitis B for HBsAg clearance when used in combination with nucleos(t)ide analogs [1][2]. Drug Background - Pegbiv is the company's core product and the world's first 40kD pegylated long-acting interferon α-2b injection, classified as a Category 1 new drug in China. It was first approved for chronic hepatitis C in October 2016 and for chronic hepatitis B in September 2017 [2]. Chronic Hepatitis B Context - Chronic hepatitis B is a significant public health issue in China, with an estimated 75 million infected individuals as of 2020. The prevalence of HBsAg has decreased from 9.72% in 1992 to 5.86% in 2020 [3]. The disease poses risks of liver failure, cirrhosis, and liver cancer [3]. Clinical Cure Concept - The 2022 Chronic Hepatitis B Prevention and Treatment Guidelines in China emphasize the pursuit of clinical cure, defined as sustained HBsAg clearance and HBV DNA suppression after stopping all treatment for six months or longer [4]. The approval of Pegbiv's expanded indication is based on clinical trial results demonstrating its efficacy in achieving these treatment goals [4][5]. Clinical Trial Results - In a clinical trial, 31.4% of patients achieved HBsAg clearance and sustained HBV DNA suppression 24 weeks after treatment cessation, providing strong evidence for Pegbiv's role in achieving clinical cure for chronic hepatitis B [5].

Group 1 - The recent escalation of the US-China conflict has significantly increased market uncertainty, leading to heightened volatility and a decrease in risk appetite [2][11][12] - The US has been applying indirect barriers to trade with China, including pressuring third countries to impose tariffs and increasing tariffs on various sectors, indicating a strategy to gain negotiation leverage ahead of the APEC meeting [12][13] - The fundamental differences in positions between the US and China suggest that the trade friction may persist and intensify, with a high probability of prolonged negotiations rather than immediate concessions from China [3][13] Group 2 - Following the recent market fluctuations, there has been a notable inflow of funds into technology sectors, with significant net subscriptions observed in ETFs related to the Shanghai Composite, ChiNext, and STAR Market, indicating strong long-term support despite short-term volatility [4][19] - The report suggests that sectors reliant on overseas markets, such as optical modules and new energy, are under pressure due to US-China tensions, while sectors focused on domestic demand and strategic autonomy, like semiconductors and rare earths, are expected to perform better [19][21] - The overall market adjustment is deemed manageable, with technology remaining the primary investment focus, despite the ongoing geopolitical tensions [5][19]

Core Viewpoint - The new stock market remains active post-National Day holiday, with significant IPO activity and investor enthusiasm, particularly in the Beijing Stock Exchange, highlighted by the debut of Aomeisen, which surged 349.82% on its first day [1]. Group 1: New Stock Listings - A total of 15 companies have completed listings on the Beijing Stock Exchange by September 2025, raising 4.9 billion yuan, indicating an accelerated IPO pace [1]. - Next week, five new stocks will be available for subscription, including Chaoying Electronics, a major global supplier of automotive electronic PCBs, and Xian Yicai, the largest 12-inch silicon wafer manufacturer in mainland China [1][2][4]. Group 2: Company Profiles - **Chaoying Electronics**: Established for over 20 years, the company has a diverse product matrix in the automotive electronic PCB sector, collaborating with major global automotive suppliers and brands [1]. - **Xian Yicai**: Ranked first in mainland China and sixth globally in 12-inch silicon wafer production, the company supplies major semiconductor manufacturers and is actively developing high-end storage chips for AI applications [2][11]. - **Marco Polo**: A leading manufacturer of building ceramics in China, the company anticipates a net profit of 1 billion to 1.05 billion yuan for the first three quarters of 2025, reflecting a year-on-year decline of 12.06% to 7.66% [6][8]. - **He Yuan Biology**: An innovative biopharmaceutical company focusing on plant-based bioreactor technology, currently in the R&D phase with no profits yet [8]. - **Bibeite**: A biopharmaceutical firm focused on innovative drug development for major diseases, with its core product already approved for market [13].