Market Overview - The Hang Seng Index rose by 0.46%, gaining 119 points to reach 26,013 points, while the Hang Seng Tech Index increased by 0.51%. The morning trading volume in Hong Kong was HKD 114 billion [1] Company Performance - Meituan-W (03690) saw a morning increase of 5.85%, while Alibaba indicated a significant reduction in investment for Taobao Flash Sale expected in the next quarter [1] - Eastern Airlines (00670) experienced a rise of over 6%, benefiting from improved oil cost management [1] Biotechnology Sector - The Hang Seng Biotechnology Index increased by over 2%. Rongchang Biotech (09995) rose by over 5%, and Kangfang Biotech (09926) increased by over 4%. China Biopharmaceutical (01177) rose by 2.59% due to a significant breakthrough in HER2 dual-target ADC for breast cancer treatment [2] - Junshi Biosciences (01877) also saw an increase of over 3% as it plans to submit for listing following the successful Phase III clinical trial of Toripalimab subcutaneous injection [2] Other Notable Stocks - Basilea Pharmaceutica-B (02616) rose by over 6% after the European Commission approved a new indication for Sugliquin [3] - GDS Holdings (09698) increased by nearly 4% due to improved supply of domestic AI chips, with Morgan Stanley expecting a surge in orders in the second half of next year [3] - Longi Green Energy (06869) rose by nearly 7%, driven by interest in Google's TPU chips, with institutions optimistic about growth driven by AI data communication [3] - Smoore International (06969) increased by over 4% after signing a long-term procurement agreement for battery cells with EVE Energy to secure supply for its e-cigarette products [3] Alibaba Financial Results - Alibaba-W (09988) experienced a decline of over 2% during trading, with its adjusted net profit for the second fiscal quarter dropping by 72% year-on-year [4]

Market Overview - The Hang Seng Index increased by 0.46%, gaining 119 points to reach 26,013 points, while the Hang Seng Tech Index rose by 0.51%. The morning trading volume in Hong Kong was HKD 114 billion [1]. Airline Sector - Airline stocks led the gains, with China Eastern Airlines (00670) rising over 6% due to improved oil cost dynamics benefiting airline performance [2]. Biotechnology Sector - The Hang Seng Biotechnology Index rose over 2%. Rongchang Biopharmaceutical (09995) increased by over 5%, and Kangfang Biotech (09926) rose over 4%. China Biopharmaceutical (01177) gained 2.59% following significant breakthroughs in its self-developed HER2 dual-target ADC for breast cancer. Junshi Biosciences (01877) also saw an increase of over 3% as its Toripalimab subcutaneous injection Phase III clinical trial met its primary endpoint, with plans for subsequent listing application [3]. Pharmaceutical Sector - Basilea Pharmaceutica (02616) rose over 6% after the European Commission approved a new indication for Sugliquide [4]. AI and Technology Sector - GDS Holdings (09698) increased nearly 4% as domestic AI chip supply improved, with Morgan Stanley projecting a surge in orders by the second half of next year [5]. - Changfei Optical Fiber (06869) rose nearly 7% due to increased interest in Google's TPU chips, with institutions optimistic about AI-driven growth. Smoore International (06969) gained over 4% after signing a long-term battery cell procurement agreement with EVE Energy to secure supply for its electronic cigarette products [6]. E-commerce Sector - Alibaba Group (09988) saw a decline of over 2% during trading, with its adjusted net profit for the second fiscal quarter dropping 72% year-on-year [7].

Group 1 - The Hang Seng Index rose by 0.46%, gaining 119 points to close at 26,013 points, while the Hang Seng Tech Index increased by 0.51%. The morning trading volume in Hong Kong reached HKD 114 billion [1] - Meituan-W (03690) saw a morning increase of 5.85%, while Alibaba indicated a significant reduction in investment for Taobao Flash Sale expected in the next quarter [1] - Airline stocks performed well, with China Eastern Airlines (00670) rising over 6% due to improved oil cost benefits for airline performance [1] Group 2 - The Hang Seng Biotechnology Index increased by over 2%, with Rongchang Biologics (09995) rising over 5% and Kangfang Biologics (09926) up over 4% [2] - China Biopharmaceutical (01177) rose by 2.59% after its subsidiary achieved a significant breakthrough in HER2 dual-target ADC for breast cancer [2] - Junshi Biosciences (01877) increased by over 3% as its Toripalimab subcutaneous injection Phase III clinical trial met its primary endpoint, with plans for subsequent listing application [2] - Basilea Pharmaceutica-B (02616) rose over 6% after the European Commission approved a new indication for Sugliumab [2] - GDS Holdings Limited-SW (09698) increased by nearly 4% as domestic AI chip supply improves, with Morgan Stanley expecting a surge in orders in the second half of next year [2] Group 3 - Changfei Optical Fiber (601869) and Optical Cable (06869) rose nearly 7%, driven by interest in Google's TPU chips, with institutions optimistic about AI-driven growth in data communication [3] - Smoore International (06969) increased by over 4% after signing a long-term procurement agreement for battery cells with EVE Energy (300014) to secure supply for electronic cigarette products [3] - Alibaba-W (09988) fell over 2% as its adjusted net profit for the second fiscal quarter decreased by 72% year-on-year [3]

来源：新浪港股 基石药业-B（02616）早盘股价上涨4.61%，现报5.90港元，成交额1215.42万港元。 11月25日，基石药业公布，欧盟委员会（EC）已批准舒格利单抗的新适应症：单药治疗肿瘤细胞PD-L1 表达≥1%、无EGFR敏感突变或ALK、ROS1基因组变异、在含铂放化疗（CRT）后未出现疾病进展的、 不可切除的III期非小细胞肺癌（NSCLC）成人患者。 基石药业首席执行官、研发总裁及执行董事杨建新博士表示，继2024年EC首次批准舒格利单抗用于转 移性鳞状和非鳞状NSCLC一线治疗后，本次新适应症获批仅间隔一年时间，这标志着舒格利单抗在欧 洲实现了从Ⅲ期到Ⅳ期NSCLC的全病程覆盖，为更广泛的患者群体提供了新的治疗选择。 ...

基石药业-B(02616)涨超5%，截至发稿，涨5.32%，报5.94港元，成交额822.94万港元。 消息面上，11月25日，基石药业公布，欧盟委员会(EC)已批准舒格利单抗的新适应症：单药治疗肿瘤细 胞PD-L1表达≥1%、无EGFR敏感突变或ALK、ROS1基因组变异、在含铂放化疗(CRT)后未出现疾病进 展的、不可切除的III期非小细胞肺癌(NSCLC)成人患者。 基石药业首席执行官、研发总裁及执行董事杨建新博士表示，继2024年EC首次批准舒格利单抗用于转 移性鳞状和非鳞状NSCLC一线治疗后，本次新适应症获批仅间隔一年时间，这标志着舒格利单抗在欧 洲实现了从Ⅲ期到Ⅳ期NSCLC的全病程覆盖，为更广泛的患者群体提供了新的治疗选择。 ...

智通财经APP获悉，基石药业-B(02616)涨超5%，截至发稿，涨5.32%，报5.94港元，成交额822.94万港 元。 基石药业首席执行官、研发总裁及执行董事杨建新博士表示，继2024年EC首次批准舒格利单抗用于转 移性鳞状和非鳞状NSCLC一线治疗后，本次新适应症获批仅间隔一年时间，这标志着舒格利单抗在欧 洲实现了从Ⅲ期到Ⅳ期NSCLC的全病程覆盖，为更广泛的患者群体提供了新的治疗选择。 消息面上，11月25日，基石药业公布，欧盟委员会(EC)已批准舒格利单抗的新适应症：单药治疗肿瘤细 胞PD-L1 表达≥1%、无EGFR敏感突变或ALK、ROS1基因组变异、在含铂放化疗(CRT)后未出现疾病进 展的、不可切除的III期非小细胞肺癌(NSCLC)成人患者。 ...

丨 2025年11月26日 星期三 丨 11月24日，诺和诺德宣布，其针对司美格鲁肽治疗阿尔茨海默病的两项大型Ⅲ期试验均未达到主要目 标。数据显示，与安慰剂相比，用药患者病情进展未获显著延缓。受此消息影响，公司股价大跌。 港交所官网显示，11月24日，科望医药、明宇制药递表港交所。公开资料显示，两家生物科技公司分别 成立于2017年和2018年，目前均处于临床阶段，未有产品获批上市。 点评：今年以来，港股市场再度成为生物医药企业的"融资港湾"，科望医药、明宇制药递表，也反映出 港股市场在该领域的吸引力正在不断提升。然而，投资者也需保持理性，关注企业研发进展及潜在风 险，避免盲目跟风。 NO.4信达生物玛仕度肽高剂量9mg上市申请获受理 NO.1司美格鲁肽治疗阿尔茨海默病的临床试验失败 点评：阿尔茨海默病的致病机理至今未明确，相关药物研发的失败率一直高居不下，诺和诺德此次宣布 的消息，是对该领域在研药物的又一次打击。不过，中国药企在该领域的研发热情逐年升温，或将给患 者带来新的希望。 NO.2基石药业舒格利单抗的新适应证在欧盟获批 11月25日，基石药业宣布，欧盟委员会（EC）已批准舒格利单抗的新适应证：单药用 ...

丨2025年11月26日星期三丨 NO.1 司美格鲁肽治疗阿尔茨海默病的临床试验失败 11月24日，诺和诺德宣布，其针对司美格鲁肽治疗阿尔茨海默病的两项大型Ⅲ期试验均未达到主要目 标。数据显示，与安慰剂相比，用药患者病情进展未获显著延缓。受此消息影响，公司股价大跌。 点评：阿尔茨海默病的致病机理至今未明确，相关药物研发的失败率一直高居不下，诺和诺德此次宣布 的消息，是对该领域在研药物的又一次打击。不过，中国药企在该领域的研发热情逐年升温，或将给患 者带来新的希望。 点评：今年以来，港股市场再度成为生物医药企业的"融资港湾"，科望医药、明宇制药递表，也反映出 港股市场在该领域的吸引力正在不断提升。然而，投资者也需保持理性，关注企业研发进展及潜在风 险，避免盲目跟风。 NO.4 信达生物玛仕度肽高剂量9mg上市申请获受理 11月25日，信达生物发布公告，宣布玛仕度肽注射液高剂量9mg用于成人中重度肥胖患者长期体重控制 的上市申请，已获中国国家药品监督管理局（NMPA）药品审评中心（CDE）受理。 点评：对于国内中重度肥胖人群，玛仕度肽有望在减重手术之外，提供一个新治疗选择。但随着减肥药 市场竞争日益激烈，该产品的 ...

EC已批准舒格利单抗两项适应症： 联合含铂化疗一线治疗无EGFR敏感突变或无ALK、ROS1、RET基因组肿瘤变异的转移性NSCLC(该适 应症也已获英国药品和医疗保健用品管理局[MHRA]批准); 单药治疗肿瘤细胞PD-L1表达≥1%、无EGFR敏感突变或ALK、ROS1基因组变异、在含铂CRT后未出现 疾病进展的、不可切除的III期NSCLC成人患者。 基石药业首席执行官、研发总裁及执行董事杨建新博士表示："继2024年EC首次批准舒格利单抗用于转 移性鳞状和非鳞状NSCLC一线治疗后，本次新适应症获批仅间隔一年时间，这标志着舒格利单抗在欧 洲实现了从Ⅲ期到Ⅳ期NSCLC的全病程覆盖，为更广泛的患者群体提供了新的治疗选择。基石药业将 继续推进舒格利单抗在全球的可及性，践行对患者的长期承诺。" 基石药业首席医学官史青梅博士强调："此次新适应症获批使舒格利单抗成为欧洲第二款用于Ⅲ期 NSCLC的PD-(L)1抗体，填补了该疾病领域的关键治疗需求。同时，我们为基石药业临床开发和注册团 队的卓越表现感到欣慰，其高效执行力确保了舒格利单抗能在欧洲药品管理局(EMA)审评路径下快速且 顺利地获批。我们致力于进一步提升 ...

基石药业首席医学官史青梅博士强调："此次新适应症获批使舒格利单抗成为欧洲第二款用於Ⅲ期 NSCLC的PD-(L)1抗体，填补了该疾病领域的关键治疗需求。同时，我们为基石药业临床开发和注册团 队的卓越表现感到欣慰，其高效执行力确保了舒格利单抗能在欧洲药品管理局(EMA)审评路径下快速且 顺利地获批。我们致力於进一步提升全球能力，将我们创新研发的产品带给世界各地的患者。" 格隆汇11月25日丨基石药业-B(02616.HK)今日宣布欧盟委员会(EC)已批准舒格利单抗的新适应症：单药 治疗肿瘤细胞PD-L1表达≥1%、无EGFR敏感突变或ALK、ROS1基因组变异、在含铂放化疗(CRT)後未 出现疾病进展的、不可切除的III期非小细胞肺癌(NSCLC)成人患者。 基石药业首席执行官、研发总裁及执行董事杨建新博士表示："继2024年EC首次批准舒格利单抗用於转 移性鳞状和非鳞状NSCLC一线治疗后，本次新适应症获批仅间隔一年时间，这标志着舒格利单抗在欧 洲实现了从Ⅲ期到Ⅳ期NSCLC的全病程覆盖，为更广泛的患者群体提供了新的治疗选择。基石药业将 继续推进舒格利单抗在全球的可及性，践行对患者的长期承诺。" ...