Core Viewpoint - Junshi Biosciences (01877) saw a morning increase of over 3%, currently up 3.23% at HKD 24.28, with a trading volume of HKD 3.177 million, following the announcement of new indications for its products being included in the National Medical Insurance Directory [1] Group 1: Product Developments - Junshi Biosciences announced that its product Toripalimab injection (brand name: Tuoyi®, product code: JS001) has received two new indications, and its product Engreitzumab injection (brand name: Junshida®, product code: JS002) has been successfully included in the National Medical Insurance Directory (2025) under the Class B category [1] - The new National Medical Insurance Directory will officially take effect on January 1, 2026 [1] Group 2: Market Position - As of the announcement date, the company has four commercialized products, including Tuoyi®, Adalimumab injection (brand name: Junmaikang®, product code: UBP1211), Dexamethasone Hydrochloride tablets (brand name: Mindewi®, product code: VV116/JT001), and Junshida®, all of which have been included in the National Medical Insurance Directory [1] - Tuoyi® is the only anti-PD-1 monoclonal antibody in the directory that is approved for the treatment of renal cancer, triple-negative breast cancer, and melanoma, with all 12 approved indications in mainland China included in the National Medical Insurance Directory [1] - Junshida® is newly included and is the only domestic PCSK9-targeted drug in the new directory for patients intolerant to statins [1]

Core Viewpoint - Junshi Biosciences (01877) saw a morning increase of over 3%, currently up 3.23% at HKD 24.28, with a trading volume of HKD 3.177 million. The company announced that its products, Toripalimab injection (brand name: Tuoyi, product code: JS001) and Engreztinib injection (brand name: Junshida, product code: JS002), have been included in the National Medical Insurance Catalog (2025) under Category B, effective January 1, 2026 [1]. Group 1 - The company has successfully added two new indications for Toripalimab and has included Engreztinib in the National Medical Insurance Catalog [1]. - All 12 approved indications for Toripalimab in mainland China have been included in the National Medical Insurance Catalog, making it the only anti-PD-1 monoclonal antibody in the catalog for the treatment of renal cancer, triple-negative breast cancer, and melanoma [1]. - Engreztinib is newly included in the catalog and is the only domestic PCSK9-targeted drug for patients intolerant to statins in the new version of the catalog [1].

Core Viewpoint - Junshi Biosciences has announced that two of its products, Toripalimab Injection (brand name: Tuoyi®) and Engreztinib Injection (brand name: Junshida®), have been included in the National Medical Insurance Catalog (2025) under the Class B category, effective January 1, 2026 [1] Group 1: Product Developments - Toripalimab has received approval for all 12 indications in mainland China and is the only anti-PD-1 monoclonal antibody in the catalog for treating renal cancer, triple-negative breast cancer, and melanoma [1] - Engreztinib is newly included in the catalog and is the only domestic PCSK9-targeted drug for patients intolerant to statins [1] Group 2: Market Implications - The inclusion of these products in the National Medical Insurance Catalog is expected to enhance their market accessibility and potentially increase sales [1] - With four commercialized products now listed in the National Medical Insurance Catalog, the company is positioned to benefit from broader patient access and reimbursement support [1]

Core Viewpoint - Shanghai Junshi Biosciences Co., Ltd. has implemented the "2025 Action Plan" to enhance operational efficiency, compliance, and high-quality development, focusing on innovation and expanding its drug pipeline [2][11]. Group 1: Operational Efficiency and Development - The company aims to become a global innovative pharmaceutical company with a complete industry chain capability from drug discovery to commercialization [2]. - The company has expanded its innovation areas from monoclonal antibodies to include small molecules, antibody-drug conjugates (ADC), bispecific antibodies, fusion proteins, nucleic acid drugs, and vaccines, targeting next-generation therapies for cancer and autoimmune diseases [2][3]. - As of the report date, the company has four commercialized drugs and nearly 30 drugs in clinical trials, with over 20 in preclinical development [2]. Group 2: Research and Development Achievements - During the reporting period, the company accelerated clinical development, reduced production costs, and improved sales efficiency, achieving a 49.41% year-on-year increase in drug sales revenue to 1.059 billion yuan [6]. - The company received NMPA approval for new indications for its drug Tuoyi, which is now approved for 12 indications in mainland China and has been approved in multiple countries [3][4]. - Clinical research efficiency improved, with over 1,400 participants enrolled in clinical studies [4]. Group 3: Production and Sales - The company has optimized its production system and received GMP certifications in various regions, ensuring stable supply and meeting growing market demand [5]. - The core product Tuoyi achieved sales revenue of 954 million yuan in the domestic market, reflecting a growth of approximately 42% [6]. Group 4: Governance and Compliance - The company has strengthened its governance structure, establishing a compliance committee at the board level to enhance regulatory adherence and operational integrity [9]. - The company emphasizes investor communication and transparency, responding to investor inquiries and providing regular updates on business progress [10]. Group 5: Talent Development and Innovation - The company has focused on talent development, creating a structured career advancement path and enhancing training resources to foster an innovative workforce [7]. - The company has established a complete technical system to improve drug discovery capabilities and has strengthened intellectual property protection, holding 184 authorized patents [7]. Group 6: Shareholder Returns and Market Management - The company is committed to shareholder returns and has initiated a plan for significant share buybacks, with the chairman planning to increase his stake by at least 100 million yuan [8]. - The company has implemented a market value management system to enhance its market perception and investor relations [8].

Group 1 - The core viewpoint is that the current wave of COVID-19 infections is manageable and does not warrant panic, particularly for the elderly with underlying health conditions [1] - The prediction indicates that the current wave is in a ramp-up phase and is expected to conclude by the end of June, lasting approximately 6 to 8 weeks [1] - The symptoms of the current COVID-19 wave are similar to previous ones, with notable symptoms including fever, headache, fatigue, and throat discomfort, with an increase in cough frequency [1] Group 2 - The circulating strain, XDV, is highly transmissible but has relatively lower pathogenicity compared to previous strains [2]

Core Viewpoint - The recent rise in COVID-19 positivity rates across multiple regions in China is concerning, but the situation is deemed manageable and not panic-inducing according to expert opinions [1][4][7]. Summary by Sections Current COVID-19 Trends - COVID-19 positivity rates in China have increased from 7.5% to 16.2% in outpatient flu-like cases and from 3.3% to 6.3% in hospitalized severe acute respiratory infections from March 31 to May 4 [5][6]. - The current wave of infections is expected to peak around the end of June, lasting approximately 6 to 8 weeks [4][7]. Demographics and Risks - The elderly population, particularly those aged 65 and above with underlying health conditions, are identified as high-risk groups [14][15]. - In Hong Kong, over 83% of reported COVID-19 deaths were among individuals aged 65 and older, with over 90% having comorbidities [3]. Symptoms and Variants - The circulating variant is identified as XDV, which exhibits strong transmissibility but relatively lower pathogenicity compared to previous strains [8][10]. - Common early symptoms include fever, headache, fatigue, and sore throat, with a notable increase in throat pain [9]. Treatment Recommendations - It is advised that high-risk individuals take antiviral medications such as Lopinavir, Nirmatrelvir, and Molnupiravir within 48 hours of symptom onset to prevent severe illness [15][20]. - Current antiviral medications are not recommended for children under 5 years due to a lack of clinical trial data [20]. Public Health Recommendations - Individuals are encouraged to wear masks in crowded places, maintain social distancing, ensure proper ventilation, and adopt healthy lifestyle habits to boost immunity [21][25][26].