36氪获悉，长春高新公告，公司已于2025年9月29日向香港联合交易所有限公司（以下简称"香港联交 所"）递交了发行境外上市外资股（H股）股票并在香港联交所主板上市（以下简称"本次发行上市"） 的申请，并于同日在香港联交所网站刊登了本次发行上市的申请资料。本次发行上市事项的相关申请资 料为公司按照香港证券及期货事务监察委员会及香港联交所的要求编制和刊发，为草拟版本，其所载资 料可能会适时作出更新及修订，投资者不应根据其中的资料作出任何投资决定。 ...

Core Viewpoint - Shanghai Kaisa Biotechnology Co., Ltd. announced the authorization for its non-wholly-owned subsidiaries to provide guarantees for credit applications and daily operations, with a total guarantee limit not exceeding 2 billion yuan [1] Group 1 - The total amount of guarantees provided by non-wholly-owned subsidiaries as of the announcement date is 500 million yuan, all of which are inter-subsidiary guarantees [1] - The main entities being guaranteed include Kaisa (Taiyuan) Biomaterials Co., Ltd. and Kaisa (Taiyuan) Biotechnology Co., Ltd., both of which have a debt-to-asset ratio not exceeding 70% [1] - The authorization has been approved by the board of directors and does not require shareholder meeting approval, indicating that the guarantee risks are controllable and do not harm the interests of the company and its shareholders [1]

Core Viewpoint - Haiwang Bio (000078) announced revisions to its Articles of Association and multiple company systems to enhance corporate governance and operational standards [1][5]. Group 1: Background and Reasons for Revisions - The revisions are based on legal requirements from the Company Law and related regulatory documents, tailored to the company's actual situation [2]. - The supervisory board's powers will be transferred to the board's audit committee, leading to the abolition of the supervisory board's meeting rules [2]. Group 2: Key Points of the Articles of Association Revisions - Legal representative provisions clarify that if a director or president resigns, they are deemed to have also resigned as the legal representative, with a new representative to be appointed within 30 days [3]. - Shareholder rights and obligations have been detailed, including the right to request the company to buy back shares in case of dissent regarding merger or division resolutions [3]. - Directors' duties have been reinforced, emphasizing loyalty and diligence, with provisions for income from violations to be returned to the company and liability for losses incurred [3]. - The governance structure will see the audit committee assume the supervisory board's functions, with defined roles and procedures for the nomination and remuneration committees [3]. Group 3: Revisions to Meeting Rules - The "Shareholders' Meeting Rules" have been updated to replace "Shareholders' General Meeting" with "Shareholders' Meeting" and adjust procedures for convening temporary meetings and voting rules [4]. - The "Board Meeting Rules" have been refined to enhance the election, replacement, and resignation processes of directors, emphasizing the independence and responsibilities of independent directors [4]. Group 4: Implementation of Revised Systems - A total of 26 company systems have been established or revised, covering areas such as shareholder meetings, board meetings, auditing, and fundraising management [5]. - Six of these systems, including the "Shareholders' Meeting Rules" and "Board Meeting Rules," require approval from the shareholders' meeting to take effect, while others will be effective upon board approval [5]. - The merger of the "Independent Director Special Meeting System" into the "Independent Director Work System" has been executed, with the former being abolished [5].

Core Viewpoint - Shenzhen Haiwang Bioengineering Co., Ltd. has released a draft of its revised company articles aimed at improving corporate governance, operational efficiency, and protecting the rights of shareholders and the company [1][2]. Group 1: Company Structure and Governance - The company was established in 1998 with a registered capital of RMB 2,631,123,257.00, and it operates in various fields including biochemical raw materials, pharmaceuticals, and investment [1][2]. - The total number of shares is 2,631,123,257, all of which are ordinary shares, with initial issuance of 57,300,000 shares by five founding shareholders [2]. - The governance structure includes a board of directors consisting of 7 to 9 members, with independent directors making up at least one-third of the board [2]. Group 2: Shareholder Rights and Responsibilities - Shareholders have rights to dividends and participation in shareholder meetings, while also being required to comply with legal obligations and company regulations [2]. - The shareholder meeting is responsible for major decisions such as director elections and profit distribution, with specific procedures for convening and voting [2]. Group 3: Financial and Audit Regulations - The company is required to establish financial accounting systems and disclose annual and interim reports in a timely manner [2]. - Profit distribution policies will focus on investor returns and may include cash or stock options, depending on the company's development stage [2]. - An internal audit system is in place to oversee financial practices and the appointment of external auditors [2].

公告称，考虑到具有浮动回报的保本理财产品的性质，预期回报率，及理财产品的中短期性质，使用集 团闲置自有资金认购中国银行结构性存款将获得高于一般商业银行存款的回报，并且有利于提高集团闲 置资金的使用效率。董事认为中国银行结构性存款的条款属公平合理，并符合公司股东的整体利益。 智通财经APP讯，科伦博泰生物-B(06990)发布公告，2025年9月29日，公司订立中国银行结构性存款协 议，据此，公司同意认购本金额为人民币4.4亿元的中国银行结构性存款。 ...

格隆汇9月29日丨科伦博泰生物-B(06990.HK)公告，2025年9月29日，公司订立中国银行结构性存款协 议，据此，公司同意认购本金额为人民币4.4亿元的中国银行结构性存款。 ...

公告称，考虑到具有浮动回报的保本理财产品的性质，预期回报率，及理财产品的中短期性质，使用集 团闲置自有资金认购中国银行结构性存款将获得高于一般商业银行存款的回报，并且有利于提高集团闲 置资金的使用效率。董事认为中国银行结构性存款的条款属公平合理，并符合公司股东的整体利益。 科伦博泰生物-B(06990)发布公告，2025年9月29日，公司订立中国银行结构性存款协议，据此，公司同 意认购本金额为人民币4.4亿元的中国银行结构性存款。 ...

Summary of MoonLake Immunotherapeutics 2025 R&D Day Company Overview - **Company**: MoonLake Immunotherapeutics - **Focus**: Development of sonelokimab for the treatment of hidradenitis suppurativa (HS) Key Points from the Call Industry and Product Insights - **Trials**: The VELA-1 and VELA-2 trials are part of the VELA program testing sonelokimab in adults with moderate to severe HS, with primary endpoint readout at week 16 [3][4] - **Results**: VELA-1 met all primary and secondary endpoints with a 17% delta to placebo for I-score 75 at week 16, while VELA-2 faced challenges due to a higher-than-expected placebo response [4][5] - **Regulatory Perspective**: The company believes the trials have merit to proceed in clinical development despite VELA-2's issues, emphasizing the importance of pain scores and quality of life improvements [5][6] Clinical Data and Analysis - **Patient Cohort**: A total of 838 patients participated across both trials, with balanced patient characteristics [6][8] - **Statistical Analysis**: The company utilized composite and treatment policy strategies for data analysis, both required by regulators to test robustness [11][12] - **Efficacy**: VELA-1 showed high statistical significance (P < 0.001) for primary endpoints, while VELA-2 had a borderline P-value of 0.053, driven by a single patient [15][17] - **Response Over Time**: Sonelokimab demonstrated a fast onset of response, with significant differences from placebo observed as early as week 4 [19][20] Patient-Reported Outcomes - **Pain Reduction**: Significant pain reduction was observed with sonelokimab compared to placebo, with similar results across both trials [25][26] - **Quality of Life**: The HS-specific quality of life score showed substantial improvement in patients treated with sonelokimab, indicating a meaningful impact on daily living [26][27] - **Safety Profile**: The combined VELA trials indicated a favorable safety profile with no new safety signals, differentiating it from competitors [30][44] Future Directions - **Regulatory Engagement**: The company plans to engage with regulators to clarify the path forward for approval, believing that the data supports the efficacy of sonelokimab [49][50] - **Market Competition**: Confidence in competing against existing therapies is high, with the belief that sonelokimab has a differentiated profile in terms of efficacy, safety, and convenience [51][60] - **Upcoming Presentations**: The company will present VELA data at a scientific conference in Nashville at the end of October [52] Additional Considerations - **Placebo Response**: The unusually high placebo response in VELA-2 is acknowledged, with ongoing investigations to understand its causes [54][55] - **Financial Position**: The company reported a cash position of $425 million, indicating a stable financial outlook despite challenges [63] Conclusion MoonLake Immunotherapeutics is optimistic about the future of sonelokimab in treating HS, with strong clinical data supporting its efficacy and safety. The company is preparing for regulatory discussions and aims to clarify the path to approval while maintaining confidence in its competitive positioning within the market.

Core Viewpoint - Shanghai Aikobio Pharmaceutical Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with JPMorgan and CITIC Securities as joint sponsors. The company focuses on developing therapies for respiratory and pediatric diseases, with its core product, Ziresovir, being the first NDA-stage drug targeting respiratory syncytial virus (RSV) infection globally. However, the company has accumulated losses of 571 million yuan due to the product not yet being commercialized [1][4]. Company Overview - Aikobio was founded in 2013 and has not yet commercialized any products, remaining in a loss-making state. The company reported revenue of 6.7 million yuan in 2023 but has not generated further income since then. The revenue was related to a collaboration on a hepatitis B virus candidate drug, which has since been paused [4][5]. - The company has undergone multiple rounds of financing, with notable investors including Qiming Venture Partners, TF Capital, and Hillhouse Capital. In June 2022, Aikobio completed a Series D financing round, achieving a post-money valuation of 4.69 billion yuan [2][5]. Financial Performance - Aikobio has reported cumulative losses of 571 million yuan over two and a half years. The losses for the years 2020 to 2024 were 214 million yuan, 197 million yuan, 104 million yuan, 270 million yuan, and 197 million yuan, respectively. R&D costs were approximately 86 million yuan, with a year-on-year increase of 20.58% [4][5]. - The net cash flow from operating activities for 2023, 2024, and the first half of 2025 is projected to be -232.8 million yuan, -188.7 million yuan, and -71.7 million yuan, respectively. As of June 30, 2025, the company expects to have cash and cash equivalents of 96.74 million yuan [4]. Product Pipeline - Aikobio has developed six candidate drug pipelines, including Ziresovir, AK0610 (a monoclonal antibody for RSV prevention), and AK3280 (for idiopathic pulmonary fibrosis). The company has licensed several products from Roche, including Ziresovir, which is currently in the NDA stage [6][7]. - Ziresovir is specifically designed to treat RSV infections, a common and contagious RNA virus that causes respiratory diseases, particularly in vulnerable populations. The company submitted the NDA for Ziresovir to the National Medical Products Administration in August 2025 [7]. Market Competition - Although Ziresovir has a first-mover advantage, it faces competition from other approved monoclonal antibodies for RSV, such as nirsevimab and clesrovimab, which have already captured market share [8].

PresentationLadies and gentlemen, thank you very much for joining us today for Q&A session of AGC's Life Science business. I am Tamaki from PR and IR. It is my pleasure to serve you as [ EMC ]. Let me introduce the speaker of the day, our Senior Executive Officer and President of Life Science Company, Tadashi Murano.First off, we would like to have Murano-san give you an outline of our Life Science business, followed by questions and answers. The materials to be used have been uploaded through our website. ...