Core Viewpoint - Fosun Pharma (02196.HK) announced a partnership agreement to establish a target fund with an investment of RMB 100 million, focusing on strategic emerging sectors such as chemical innovative drugs, biological drugs (including vaccines), high-end medical devices (including IVD), traditional Chinese medicine supplements, and synthetic biology [1]. Group 1: Company Investment and Market Performance - Fosun Pharma's subsidiary will participate as a limited partner (LP) in the target fund, which aims to invest in various strategic sectors [1]. - As of October 28, 2025, Fosun Pharma's stock closed at HKD 23.0, down 2.79%, with a trading volume of 5.34 million shares and a turnover of HKD 123 million [1]. - The stock has a market capitalization of HKD 12.799 billion, ranking 13th in the biopharmaceutical II industry [2]. Group 2: Analyst Ratings and Financial Metrics - The majority of investment banks have a "Buy" rating for Fosun Pharma, with one bank issuing a "Buy" rating in the last 90 days and a target price of HKD 23.2 [1]. - Key financial metrics for Fosun Pharma compared to the biopharmaceutical II industry average include: - ROE: 6.89% (Industry Average: 10.46%, Ranking: 15th) - Revenue: HKD 39.952 billion (Industry Average: HKD 2.54 billion, Ranking: 1st) - Net Profit Margin: 10.81% (Industry Average: -381.46%, Ranking: 14th) - Gross Margin: 47.89% (Industry Average: 59.38%, Ranking: 32nd) - Debt Ratio: 49.26% (Industry Average: 74.41%, Ranking: 33rd) [2].

Core Viewpoint - Fosun Pharma (02196.HK) announced its intention to invest RMB 100 million as a limited partner (LP) in a target fund, which will focus on strategic emerging sectors such as chemical innovative drugs, biopharmaceuticals (including vaccines), high-end medical devices (including IVD), traditional Chinese medicine supplements, and synthetic biology [1] Group 1 - The company will collaborate with 11 other investors to establish the target fund [1] - The investment is scheduled to be made on October 28, 2025 [1] - The target fund aims to invest in enterprises within specific strategic emerging sectors [1]

Core Viewpoint - Fosun Pharma (02196.HK) announced a partnership agreement to establish a target fund with an investment of RMB 100 million, focusing on strategic emerging sectors such as chemical innovative drugs, biological drugs (including vaccines), high-end medical devices (including IVD), traditional Chinese medicine supplements, and synthetic biology [1] Group 1 - The company will act as a Limited Partner (LP) in the investment, contributing RMB 100 million [1] - The target fund aims to invest in enterprises within strategic emerging sectors [1] - The investment will cover various fields including chemical innovative drugs, biological drugs, high-end medical devices, traditional Chinese medicine, and synthetic biology [1]

Core Viewpoint - Fosun Pharma (600196)(02196) announced its participation as a limited partner (LP) in a target fund with a cash investment of RMB 100 million, aimed at investing in strategic emerging sectors such as chemical innovative drugs, biopharmaceuticals (including vaccines), high-end medical devices (including IVD), traditional Chinese medicine supplements, and synthetic biology [1] Group 1 - The investment involves collaboration with 11 other investors under a partnership agreement signed on October 28, 2025 [1] - The target fund will focus on leveraging the strengths of both Fosun Pharma and China Resources Pharmaceutical in the health sector [1] - The investment strategy aligns with local industrial policies and geographical advantages in Chengdu, aiming to expand the company's presence in innovative drugs, biopharmaceuticals, high-end medical devices, synthetic biology, and other strategic emerging fields [1]

Investment Overview - Fosun Pharma (600196) announced that its subsidiary, Fosun Pharma Industry, plans to invest 100 million RMB as a limited partner (LP) in a private equity investment fund, which aims to raise a total of 1 billion RMB. The fund will primarily invest in areas such as chemical innovative drugs, biological drugs (including vaccines), high-end medical devices (including IVD), traditional Chinese medicinal supplements, and synthetic biology [1] Fund Structure - The investment structure includes Fosun Pharma Industry committing 10% of the fund, while Chengdu Zhongchan Phase II Fund and Chengdu High-tech Source Fund each contribute 19.7%. Chengdu Jiaozi Industry Fund contributes 14.85%, and Huaren Fang Investment collectively contributes 21.75%, with the remainder coming from other investors [1] Fund Management - The fund will be managed by China Resources Capital, with a duration of 7 years, which includes a 3-year investment period and a 4-year exit period. There is an option to extend the duration by 1 year [2] Decision-Making Mechanism - The investment committee consists of 7 members, with Fosun Pharma Industry having the right to nominate 1 member. Major decisions require the approval of more than 2/3 of the committee members [3]

为促进科技与产业有效衔接，活动还发布了7家重点企业的技术需求以及11项融资需求，总资金需 求规模达数亿元，涉及新药研发、生产线扩建、临床申报等多个环节。两家企业代表在现场路演中分享 了企业在技术创新与产业升级方面的迫切诉求。同时，两家金融投资机构介绍了针对生物医药企业的政 策性金融工具与市场化投资方案，推动科技成果从实验室走向产业化。现场交流活跃，初步达成合作意 向10项，为广西生物医药产业高质量发展注入新动能。（梁菁惠） 活动现场集中展示了34项技术成果，覆盖中药新药、院内制剂转化、医疗器械、化学创新药等多个 前沿领域。来自广西中医药大学、广西医科大学第一附属医院、玉林市中西医结合骨科医院等单位的8 个技术成果团队进行了现场路演，充分展现了广西在药品与医疗器械创新方面的扎实基础与科研实力。 近日，以"产学研用金协同 共筑产业新生态"为主题的广西生物医药产业"产学研用金"对接活动在 广西中医药大学举办。此次活动是广西首次聚焦生物医药领域创新成果与生产企业精准对接的专项活 动，旨在推动产业链、创新链、资金链与人才链深度融合，将本地资源优势切实转化为产业发展优势。 ...

Core Viewpoint - The establishment of a 1 billion yuan investment fund by companies under China Resources, in collaboration with Shanghai Fosun Pharmaceutical and Chengdu state-owned enterprises, aims to focus on the pharmaceutical and health sectors, particularly in innovative drug development and strategic emerging industries [2][4]. Group 1: Fund Structure and Partners - The fund, named China Resources Pharmaceutical (Chengdu) Innovation Investment Fund, has a total capital of 100 million yuan, with various partners contributing different amounts [3]. - The general partner (GP) is China Resources Pharmaceutical (Chengdu) Enterprise Management Partnership (Limited Partnership), while limited partners (LPs) include several pharmaceutical companies and investment funds [2][3]. - The fund's lifespan is set for 7 years, with a 3-year investment period and a 4-year exit period, extendable by 1 year upon partner approval [3]. Group 2: Investment Focus - The fund will concentrate on the pharmaceutical health sector and strategic emerging industries, targeting areas such as chemical innovative drugs, biological drugs (including vaccines), high-end medical devices, and traditional Chinese medicine [4]. - The involvement of the Chengdu Bio-City Jingchuang Equity Investment Fund indicates a strong potential for project implementation within the Chengdu Tianfu International Bio-City [4]. Group 3: Historical Context - An earlier fund, the China Resources Pharmaceutical (Shantou) Industry Investment Fund, was established 8 years ago but did not perform as expected, failing to reach its initial target of 2.5 billion yuan [4][6]. - The Shantou fund entered a liquidation phase in December 2024, having not achieved the anticipated scale, which affected the contributions of its partners [5][6].

Group 1 - China Resources Pharmaceutical (03320.HK) announced the establishment of a joint venture fund named China Resources Pharmaceutical (Chengdu) Innovation Investment Fund Partnership (Limited Partnership) with a proposed scale of RMB 1 billion and a total duration of seven years [1] - The group's proposed capital contribution will be approximately RMB 245 million, accounting for about 24.5% of the total fund capital [1] - The fund is expected to primarily engage in equity investment, venture capital, and investment management activities, focusing on the pharmaceutical and health industry as well as strategic emerging sectors [1] Group 2 - The fund will target investments in areas such as chemical innovative drugs, biological drugs (including vaccines), high-end medical devices (including IVD), traditional Chinese medicine supplements, and synthetic biology, among other strategic emerging fields [1] - The company believes it can leverage the fund's professional investment team resources to effectively control risks associated with mergers and acquisitions and innovation projects, ensuring the quality of target companies and accelerating strategic mergers and acquisitions in the pharmaceutical industry [2] - This strategy aims to enhance the company's long-term sustainable development capabilities within the pharmaceutical sector [2]

Core Viewpoint - The State Administration for Market Regulation and the Ministry of Industry and Information Technology have issued the "Measurement Support Action Plan for the Development of New Quality Productive Forces (2025-2030)" focusing on key areas related to public health and biotechnology [1] Group 1: Key Areas of Focus - The plan emphasizes the importance of biotechnology, diagnostic equipment, and drug development in enhancing public health [1] - Specific directions include research on critical technologies for measurement and quality evaluation in pharmaceuticals, vaccines, advanced diagnostic technologies, wearable devices, precision medicine, and testing [1] Group 2: Research and Development Initiatives - Major initiatives will involve significant prevention and control measures, chemical innovative drugs, biopharmaceuticals, high-throughput gene sequencing, cell therapy, biological testing, in vitro diagnostic products, synthetic biology products, organoid products, and medical robots [1] - The plan aims to promote interdisciplinary integration in pharmacology, physiology, and synthetic biology to accelerate the application of related technologies in new drug development, disease treatment, and specialized medical food formulations [1]

Core Viewpoint - Hainan Haiyao has signed a strategic cooperation framework agreement with Aikang International Group to enhance collaboration in the health sector and promote the construction of Hainan Free Trade Port, aiming to expand market presence in both China and Malaysia [1][2]. Group 1: Strategic Cooperation - Hainan Haiyao will act as the exclusive agent for Aikang Group's health products in mainland China, responsible for promotion, sales, and after-sales service [1]. - Aikang Group will serve as the exclusive agent for Hainan Haiyao's traditional Chinese medicine products in Malaysia, facilitating their entry into the Malaysian market [1][2]. - Both parties will conduct market research and develop promotional strategies tailored to Malaysian consumer needs, enhancing brand recognition in Southeast Asia [1][2]. Group 2: Operational Framework - Annual cooperation summits will be held alternately in Hainan Free Trade Port and Malaysia to assess progress and plan future actions [2]. - A joint working group will be established to oversee the implementation of the cooperation, ensuring effective communication and problem resolution [2]. - The agreement lays a foundation for future formal cooperation, leveraging shared resources and expertise to enhance product offerings in the health sector [2]. Group 3: Company Background - Hainan Haiyao, established in 1965 and listed in 1994, is a leading pharmaceutical enterprise in Hainan Province, with a diverse product range including intermediates, active pharmaceutical ingredients, innovative chemical drugs, modern Chinese medicine, biological drugs, and high-end medical devices [3].