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。 Asymchem Laboratories (Tianjin) Co., Ltd. 凱萊英醫藥集團（天津）股份有限公司 茲載列本公司在深圳證券交易所網站刊登的以下資料中文全文，僅供參閱。 承董事會命 凱萊英醫藥集團（天津）股份有限公司 Hao Hong博士 董事長、執行董事兼首席執行官 中國天津，二零二五年八月二十五日 （於中華人民共和國註冊成立的股份有限公司） 於本公告日期，本公司董事會由董事長兼執行董事 Hao Hong 博士，執行董事楊蕊女 士、張達先生及洪亮先生，非執行董事 Ye Song 博士及張婷女士，以及獨立非執行董 事孫雪嬌博士、侯欣一博士及謝維愷先生組成。 （股份代號：6821） 海外監管公告 本海外監管公告乃由本公司根據香港聯合交易所有限公司證券上市規則第 13.10B 條作 出。 凯莱英医药集团（天津）股份有限公司 2025 年半年度报告摘要 2025 年半年度报告摘要 1 凯莱英 ...

Core Viewpoint - The company has demonstrated significant revenue growth and has raised its full-year revenue guidance, reflecting confidence in the industry and its own future development [1][2]. Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of 2.7 billion yuan, a year-on-year increase of 62.2%, and a net profit attributable to shareholders of 750 million yuan, up 52.7% year-on-year [1]. - The company's gross margin reached 36.1% in the first half of 2025, an increase of 4.0 percentage points year-on-year, driven by improved capacity utilization and operational efficiency [2]. Group 2: Market Position and Orders - The company's global market share is expected to rise to 22.2% by the first half of 2025, supported by a backlog of unfulfilled orders amounting to 1.33 billion USD, which is a 57.9% increase year-on-year [1]. - The company signed 37 new iCMC projects in the first half of 2025, setting a historical record, with new order amounts increasing by 48.4% year-on-year [1]. Group 3: Capital Expenditure and Growth Strategy - The company plans to increase long-term capital expenditures, with cumulative capital spending expected to exceed 7 billion yuan by 2029, focusing on expanding domestic and international production capacity [2]. - The company is actively developing new ADC and XDC businesses, completing over 2,300 early-stage research projects in the first half of 2025, with a significant portion focused on differentiated targets and new indications [2]. Group 4: Earnings Forecast and Valuation - The earnings per share forecasts for 2025-2027 have been adjusted to 1.29, 1.78, and 2.45 yuan, respectively, reflecting the company's strong growth potential as a leader in the global ADC CRDMO market [3]. - A target price of 65.82 HKD has been set using the DCF valuation method, maintaining a "buy" rating based on the company's long-term development potential [3].

Group 1 - The company reported a revenue of 2.701 billion yuan in H1 2025, representing a year-on-year increase of 62.2%, and an adjusted net profit (excluding interest income and expenses) of 733 million yuan, up 69.6% [1] - The total amount of uncompleted orders reached 1.329 billion yuan, a year-on-year increase of 57.9%, with North America accounting for over half of this total [1] - The company signed 37 new iCMC projects and won 13 iCMC projects in H1 2025, with a total of 563 clients, reflecting a 64% increase [1] Group 2 - The company plans to invest 1.56 billion yuan in capital expenditures in 2025, with total capital expenditures expected to exceed 7 billion yuan by 2029 to expand domestic and international production capacity [2] - The new production facility in Wuxi is fully operational, and the new park is expected to be operational by May 2025, with sufficient order reserves [2] - The company expects Non-GAAP net profits of 1.696 billion yuan, 2.199 billion yuan, and 2.908 billion yuan for 2025, 2026, and 2027 respectively, with corresponding PE ratios of 41, 32, and 24 times [3]

Core Viewpoint - 康龙化成 reported a strong performance in the first half of 2025, with a revenue increase of 14.9% year-on-year, driven by significant growth in orders and robust demand from top pharmaceutical clients [1][4]. Financial Performance - The company achieved a revenue of 6.441 billion yuan in the first half of 2025, reflecting a year-on-year growth of 14.9% [4]. - The net profit attributable to shareholders was 701 million yuan, a decrease of 37.0% year-on-year, primarily due to last year's substantial gains from the disposal of PROTEOLOGIX, INC. shares [4]. - Adjusted net profit under non-IFRS standards was 756 million yuan, representing a year-on-year increase of 9.5% [4]. - New orders signed in the first half of 2025 increased by over 10% year-on-year [4]. Client and Market Dynamics - Revenue from MNC (Top 20 pharmaceutical companies) clients grew significantly by 48.0% year-on-year, attributed to the maturity of CMC project pipelines and deepened collaboration in laboratory services [2][4][9]. - The company added over 480 new clients, with active clients exceeding 2,600 [4]. Strategic Development - 康龙化成 is committed to its long-term development strategy, having established 21 R&D centers and production bases globally, including in China, the UK, and the US [5]. - The company has a workforce of 22,908 employees, with over 1,700 based overseas, and more than 90% of employees engaged in R&D, production, and clinical services [5]. Business Segment Performance - Laboratory services generated revenue of 3.89 billion yuan, up 15.5% year-on-year, with a gross margin of 45.2% [6]. - CMC (small molecule CDMO) services achieved revenue of 1.39 billion yuan, reflecting an 18.2% increase year-on-year, with a gross margin of 30.5% [6]. - Clinical research services reported revenue of 940 million yuan, a year-on-year growth of 11.4% [7]. - Revenue from large molecule and cell & gene therapy services was 210 million yuan, showing a slight increase of 0.1% [8]. Technological and Operational Advancements - The company is enhancing its AI capabilities by integrating clinical data resources with AI technology, aiming to improve service efficiency [6]. - Continuous investments in various technologies, including continuous flow technology and high-throughput experimentation, are being made to support the CMC service segment [11]. Industry Outlook - The company perceives good resilience in overseas client demand, while domestic client demand is expected to gradually recover [3][12].

Core Viewpoint - The company, Ruizhi Pharmaceutical, is a high-tech enterprise focused on pharmaceutical research and development (CRO/CDMO), providing one-stop services for global pharmaceutical companies, biotechnology firms, and research institutions from early discovery to commercial production [1] Company Overview - The main business of the company is contract research organization (CRO) services for new drug development, and it does not engage in the research and development of proprietary innovative drugs [1]

Group 1 - The company approved an investment in a joint venture, PharmaGend Global Medical Services Pte. Ltd., located in Singapore, with partners CMS Medical Venture Pte. Ltd., Rxilient Health Pte. Ltd., and Healthy Goal Limited [1][4] - The joint venture aims to raise $30 million through the issuance of 30 million Class A preferred shares, primarily for infrastructure and operational expenses [3][8] - The company plans to invest $10.5 million, corresponding to its 35% ownership in the joint venture, as part of the additional investment [2][8] Group 2 - The ownership structure of the joint venture post-investment will be as follows: the company will hold 32.38%, CMS Medical Venture will hold 31.27%, Rxilient Health will hold 10.36%, and Healthy Goal Limited will hold 18.50% [3][7] - The joint venture's financial data indicates total assets of $98.48 million and total liabilities of $40.32 million as of the latest reporting period [7][8] - The investment is expected to enhance the joint venture's capabilities in the Southeast Asian CDMO service market, contributing to the company's global and sustainable development [10][12] Group 3 - The investment transaction is classified as a related party transaction, with necessary approvals obtained from the board, excluding related directors from voting [4][10] - The company emphasizes that the additional investment will not alter its control over the joint venture or significantly impact its financial results [10][12] - The independent directors have reviewed the transaction and concluded that it will not harm the interests of the company or its shareholders, particularly minority shareholders [12]

据招股书数据，泰德医药近几年营收分别为3.51亿元、3.37亿元和4.42亿元，展现出强劲势头。其背后 是多元化的客户结构与全球化布局的支撑，目前，企业客户覆盖全球50多个国家，美国、中国内地、日 本和欧洲的营收分别占比55%、21.4%、7.1%和11%。较为分散的市场分布有效对冲了依靠单一市场的 风险。 本文源自：智通财经网 智通财经获悉，泰德医药(03880)早盘涨超9%，高见40.54港元，刷新上市新高。截至发稿，涨8.9%，报 40.14港元，成交额2103.22万港元。 消息面上，泰德医药将于8月29日召开董事会会议以审批中期业绩。根据弗若斯特沙利文的资料，于 2023年，按销售收入计，泰德医药是全球第三大专注于多肽的CRDMO，市场份额为1.5%。公司提供从 早期发现、临床前研究及临床开发以至商业化生产的全周期服务。全球专注于多肽的CRDMO市场的两 大参与者占23.8% 的市场份额，其余市场参与者则较为分散，2023年第三至六大参与者(包括本公司)分 别仅占约1%的市场份额。 ...

Core Viewpoint - 泰德医药's stock price increased over 9%, reaching a new high of 40.54 HKD, driven by positive market sentiment ahead of its upcoming board meeting to approve mid-term results [1] Company Summary - 泰德医药 is the third largest global player in the peptide-focused CRDMO market, holding a market share of 1.5% as of 2023, according to Frost & Sullivan [1] - The company offers a full-cycle service from early discovery, preclinical research, clinical development to commercial production [1] - The top two players in the global peptide-focused CRDMO market account for 23.8% of the market share, while the remaining participants, including 泰德医药, hold approximately 1% each [1] Financial Performance - 泰德医药's revenue for the past few years has shown strong momentum, with figures of 351 million, 337 million, and 442 million CNY [1] - The company's diverse client base and global presence support its growth, with clients across over 50 countries [1] - Revenue distribution is as follows: 55% from the United States, 21.4% from mainland China, 7.1% from Japan, and 11% from Europe, indicating a well-distributed market presence that mitigates risks associated with reliance on a single market [1]

Core Viewpoint - The company has been deeply engaged in the CDMO industry for twenty years, providing services to global innovative pharmaceutical companies and accumulating rich experience and capabilities in research and development technology, delivery, and lean operations [1] Group 1: Company Overview - The company has established research and development teams in China, the United States, and Europe, collaboratively building a technology platform [1] - The company offers customized research and development services for various types of drugs, including small molecules, peptides, oligonucleotides, proteins and conjugates, and gene cell therapies [1] - The company supports hundreds of different types of research and development projects each year, assisting clients from IND application to the entire lifecycle until market launch [1]

Core Viewpoint - WuXi AppTec (02268) has demonstrated exceptional performance in the bioconjugate drug CRDMO sector, with a revenue growth of 62.2% in the first half of 2025, significantly surpassing annual growth guidance, and achieving a compound annual growth rate (CAGR) of 98% from the first half of 2022 to the first half of 2025, solidifying its leading position in the industry [1][2][4]. Financial Performance - The company's revenue for the first half of 2025 reached 2.701 billion yuan, a year-on-year increase of 62.2%, with a gross profit of 975 million yuan, up 82.2%, and a gross margin of 36.1%, reflecting a 5.5 percentage point increase from the full year of 2024 [2][4]. - Adjusted net profit, excluding interest income and expenses, was 733 million yuan, representing a 69.6% year-on-year growth [2]. Market Position and Growth - WuXi AppTec's market share in the bioconjugate drug CRDMO sector has surged from 9.9% in 2022 to approximately 22% in the first half of 2025, indicating strong market penetration and growth [7][11]. - The company signed a record 37 new iCMC projects in the first half of 2025, with a focus on innovative ADC molecules, including bispecific ADCs and multi-load ADCs [4][12]. Client Engagement and International Expansion - The number of global clients increased to 563, with 64 new clients added in the first half of 2025, including 13 of the top 20 global pharmaceutical companies [4][11]. - Approximately 82% of the company's revenue in the first half of 2025 came from international markets, highlighting its role as a preferred partner for overseas pharmaceutical companies [11]. Production Capacity and Infrastructure - The new DP3 production facility in Wuxi has been successfully GMP released, with an annual capacity of 7 million bottles, increasing the overall DP capacity to 15 million bottles [15][19]. - The company is also advancing its global strategy with a new production base in Singapore, expected to achieve GMP release by the first half of 2026 [19][22]. Technological Advancements - WuXi AppTec has made significant investments in technology, launching new payload linker technologies, WuXiTecan-1 and WuXiTecan-2, to enhance its service offerings [29]. - The company has advanced 1,000 molecules in early research for XDC, with a focus on high-difficulty ADC types, ensuring a robust pipeline for future growth [25][29]. Conclusion - WuXi AppTec's strong project reserves, efficient capacity construction, and strategic focus on innovative ADC and bioconjugate drug development position it as a leader in the CRDMO sector, driving sustained high growth [32].