Core Insights - The Chinese innovative pharmaceutical industry is experiencing a surge in overseas orders and mergers, indicating a vibrant market as companies engage in international collaborations and acquisitions [1][2] Group 1: International Collaborations - Since January, local companies like West Bioman and Rongchang Biopharmaceutical have completed at least five overseas licensing agreements with multinational pharmaceutical firms, showcasing active global transaction capabilities [1] - China's drug pipeline accounts for approximately 30% of the global total, ranking second worldwide, which signifies a shift from following to leading in the biopharmaceutical sector [2] - It is projected that by 2025, the total value of innovative drug licensing transactions from China will exceed $130 billion, with over 150 deals, significantly surpassing the previous year's figures [2] Group 2: Mergers and Acquisitions - China National Pharmaceutical announced a full acquisition of Hegia Biopharmaceutical for RMB 1.2 billion, aiming to enter the small interfering RNA (siRNA) innovative drug sector and expand its pipeline in cardiovascular and metabolic diseases [3] - WuXi AppTec plans to acquire Easton Pharmaceuticals at HKD 4.00 per share to enhance its capabilities in the commercial production of antibody-drug conjugates [3] - Aopu Mai has completed the acquisition of Pengli Biopharmaceutical, integrating it as a wholly-owned subsidiary to strengthen industry chain collaboration and achieve business integration [4] Group 3: Future Outlook - Companies like Fuhong Hanlin expect to launch over 20 products globally by 2030, with more than 15 anticipated to be approved in the US and Europe [5] - Jiangsu Hengrui Medicine has over 100 innovative products in clinical development and expects multiple milestone advancements in 2026, including approvals for over 10 innovative drugs or indications [5]

Market Overview - The Hang Seng Index closed at 26,999.8 points, up 0.6%, while the Hang Seng China Enterprises Index rose 0.3% to 9,315.6 points[1] - Trading volume increased to HKD 340.4 billion, an 8.0% rise from the previous day's HKD 315.2 billion, indicating a potential portfolio reallocation by investors[1] - Non-essential consumer, healthcare, and materials sectors saw increases of 2.2%, 1.3%, and 1.0% respectively, while utilities, industrials, and financials declined by 0.4%, 0.2%, and 0.2%[1] Stock Performance - Alibaba Health (241 HK) and Haidilao (6862 HK) led the gainers, rising 19.0% and 9.2% respectively[1] - Ctrip Group (9961 HK) and Xinyi Glass (868 HK) were the biggest losers, falling 6.5% and 3.9% respectively[1] Regulatory Developments - Ctrip Group is under investigation for alleged monopolistic practices, which may benefit the industry by ensuring better protection for businesses and consumers in the long run[1] - The China Securities Regulatory Commission approved an increase in the minimum financing margin ratio from 80% to 100%, aimed at reducing leverage and promoting market stability[1] Macro Dynamics - China's exports in December increased by 6.6% year-on-year, surpassing November's 5.9% and market expectations of 3.0%[3] - U.S. retail sales rose by 0.6% in November, better than October's decline of 0.1% and exceeding the forecast of 0.4%[3] Industry Insights - Macau's gaming revenue is projected to grow by 15%-20% year-on-year in January, with a strong start in the first week showing an 18% increase[4] - China Biologic Products (1177 HK) announced a maximum acquisition price of RMB 1.2 billion for Hejiya, focusing on innovative drug development in metabolic diseases[5] - The healthcare index rose by 1.3%, with China Biologic Products increasing by 2.9% following the acquisition announcement[5]

中国生物制药(01177)再涨超5%，截至发稿，涨4.92%，报7.24港元，成交额3.03亿港元。 消息面上，中国生物制药发布公告，于2026年1月13日，本公司(透过买方)全资收购赫吉亚。买方正大 制药投资(北京)有限公司(本公司一间全资附属公司)与卖方(于买卖协议日期赫吉亚现有股东的统称)、创 始人(Kunyuan Cui及管涛)、赫吉亚、广州附属公司(广州赫吉亚生物医药技术有限公司)、厦门附属公司 (厦门甘宝利生物医药有限公司)及上海附属公司(上海赫奕安生物医药有限责任公司)订立买卖协议。 赫吉亚是一家专注于小干扰核酸(siRNA)创新药研发的先锋生物医药企业，已构建从靶点发现到临床概 念验证(POC)的一体化创新药物开发体系，重点布局减重代谢、心脑血管、神经系统三大慢病领域。此 次前瞻性战略收购，将加速本集团在慢病领域的创新布局和临床推进，引领新一代创新疗法，惠及全球 患者。 赫吉亚已成功开发出覆盖多组织的差异化递送平台，且拥有自主知识产权。其核心平台MVIP(Multi- Valent Import Platform)是全球首个经临床验证、可实现"一年一针"超长效给药的肝靶向递送平台，解决 了慢性 ...

公司指，赫吉亚是一家专注于小干扰核酸(siRNA)创新药研发的先锋生物医药企业，已构建从靶点发现 到临床概念验证(POC)的一体化创新药物开发体系，重点布局减重代谢、心脑血管、神经系统三大慢病 领域。赫吉亚拥有4项临床阶段资产和10余项临床前资产，均具备同类首创(first-in-class)与同类最优 (best-in-class)潜力。 智通财经APP获悉，中生制药(01177)早盘涨超4%，截至发稿，涨3.04%，报7.12港元，成交额1.34亿港 元。 消息面上，中国生物制药发布公告，宣布将以人民币12亿元总价，全资收购国内siRNA创新药企赫吉亚 生物。这是继投资圣因生物后，中国生物制药在小核酸赛道上的又一关键落子。 ...

智通财经APP获悉，中国生物制药(01177)再涨超5%，截至发稿，涨4.92%，报7.24港元，成交额3.03亿 港元。 消息面上，中国生物制药发布公告，于2026年1月13日，本公司(透过买方)全资收购赫吉亚。买方正大 制药投资(北京)有限公司(本公司一间全资附属公司)与卖方(于买卖协议日期赫吉亚现有股东的统称)、创 始人(Kunyuan Cui及管涛)、赫吉亚、广州附属公司(广州赫吉亚生物医药技术有限公司)、厦门附属公司 (厦门甘宝利生物医药有限公司)及上海附属公司(上海赫奕安生物医药有限责任公司)订立买卖协议。 根据买卖协议，卖方有条件同意出售，而买方有条件同意收购赫吉亚100%股权，最高基础代价为人民 币1200万元(可下调)，将部分以现金支付及部分以代价股份支付。于交割时，赫吉亚将成为本公司的间 接全资附属公司。 赫吉亚是一家专注于小干扰核酸(siRNA)创新药研发的先锋生物医药企业，已构建从靶点发现到临床概 念验证(POC)的一体化创新药物开发体系，重点布局减重代谢、心脑血管、神经系统三大慢病领域。此 次前瞻性战略收购，将加速本集团在慢病领域的创新布局和临床推进，引领新一代创新疗法，惠及全球 患 ...

Group 1 - The core point of the article is that China National Pharmaceutical Group announced a full acquisition of domestic siRNA innovative drug company Hejia Bio for a total price of 1.2 billion RMB, marking a significant move in the small nucleic acid sector [1] - The acquisition follows the company's previous investment in Saintin Bio, indicating a strategic focus on the small nucleic acid drug development space [1] - Hejia Bio is recognized as a pioneer in the research and development of small interfering RNA (siRNA) innovative drugs, with a comprehensive drug development system from target discovery to proof of concept (POC) [1] Group 2 - Hejia Bio is focused on three major chronic disease areas: weight loss metabolism, cardiovascular and cerebrovascular diseases, and neurological disorders [1] - The company possesses four clinical-stage assets and over ten preclinical assets, all of which have first-in-class and best-in-class potential [1]