Market Overview - The Hang Seng Index closed at 25,220.02 points, down 615 points or 2.4% on the day, with a year-to-date increase of 25.72%[4] - The total turnover was HKD 285.70 billion, an increase of 16.6% compared to the previous day[6] - The technology index fell by 3.21%, with a year-to-date increase of 20.76%[4] Sector Performance - The financial index decreased by 2.12%, with a year-to-date increase of 14.41%[4] - The property index dropped by 2.45%, with a year-to-date increase of 8.70%[4] - The utility index fell by 0.91%, with a year-to-date increase of 21.09%[4] Key Company Updates - Kingsoft Cloud (3896.HK) reported a revenue of RMB 2.478 billion for Q3, up 31.4% year-on-year, with adjusted net profit turning positive at RMB 287.33 million[14] - AI business revenue for Kingsoft Cloud surged by 120% year-on-year, significantly boosting EBITDA margin from 9.8% to 33.4%[14] - Meituan (not mentioned in detail) and other tech stocks faced selling pressure, with notable declines in share prices[6] Economic Indicators - The U.S. 10-year Treasury yield decreased to 4.0633%, reflecting a decline of 50.57 basis points year-to-date[24] - The U.S. dollar index stood at 100.28, down 7.56% year-to-date[24] Investment Recommendations - Kingsoft Cloud is recommended for purchase at around HKD 6.00, with a target price of HKD 6.60 and a stop-loss at HKD 5.50[16] - Investors are advised to monitor the psychological support level of 25,000 points for the Hang Seng Index, as a breach could lead to further declines[10]

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。 和鉑醫藥控股有限公司 HBM Holdings Limited （於開曼群島註冊成立的有限公司） 主席兼執行董事 王勁松博士 香港，2025年11月24日 茲提述本公司日期為2025年3月21日的公告，內容有關（其中包括）本公司的間 接全資附屬公司和鉑醫藥（上海）有限責任公司（「和鉑上海」）與AstraZeneca PLC （「AstraZeneca」）訂立合作、選擇權及許可協議（「合作協議」）。 本公司董事會（「董事會」）欣然宣佈，於2025年11月24日，經修訂和鉑上海與 AstraZeneca訂立之合作協議（「該修訂」）後，訂約雙方的合作範圍進一步擴展，旨 在結合兩家公司之專業知識，共同發現及開發包括抗體偶聯藥物(ADC)及T細胞銜 接器在內的新一代生物療法。經濟條款與合作協議項下建立的財務框架仍然一致。 警示聲明 我們無法保證我們或合作夥伴將能成功開發或最終銷售本公告所提述的任何候選 產品。本公 ...