Market Overview - The Hang Seng Index is expected to challenge the 26,000 point mark due to stable economic performance in mainland China and a lack of willingness to implement further economic stimulus measures [1] - The agreement between China and the US to extend the tariff truce and the active trading in Hong Kong stocks contribute to a positive risk appetite [1] - The upcoming earnings reports from major technology stocks could provide momentum for the market [1] Macro Focus - In July, industrial production, consumption, and fixed asset investment in mainland China all showed signs of slowing down, with fixed asset investment reaching a five-year low [2][7] - The People's Bank of China is implementing a moderately loose monetary policy to support economic growth [7] - Hong Kong's GDP growth for Q2 was 3.1%, maintaining the annual growth forecast at 2% to 3% [7] Company News - China Hongqiao's mid-term profit increased by 35% to 12.4 billion RMB, exceeding expectations [2] - Standard Chartered's stock price fell due to allegations from US lawmakers [3] - Huahong Semiconductor plans to acquire Huahong Microelectronics, with A-shares suspended from trading [3] Sector Highlights - The mobile device sector is anticipating the launch of Apple's iPhone 17 on September 9 [6] - The biopharmaceutical sector is benefiting from adjustments in commercial insurance for innovative drugs [6] - The humanoid robotics sector is seeing accelerated adoption due to new product launches at the World Robot Conference [6] International Market Insights - The US Federal Reserve maintained interest rates, indicating a cautious approach towards future rate cuts due to high inflation uncertainty [3] - The US retail sales in July increased by 0.5%, marking the tenth consecutive month of growth [8] - The consumer confidence index in the US unexpectedly declined in August, reflecting concerns over tariffs [8] Investment Trends - Significant inflow of capital from mainland investors into Hong Kong stocks, with net purchases reaching a historical high of 35.9 billion HKD [7] - The overall investment sentiment remains positive, driven by low valuations in Hong Kong stocks and the rise of technology companies [7]

Core Insights - The company announced promising preclinical efficacy results for its obesity treatment candidate ASC47 in combination with the dual-target peptide ASC31 [1][2] - ASC31 is a novel GLP-1R and GIPR dual-target agonist peptide developed by the company, showing favorable pharmacokinetic characteristics and positive in vivo efficacy in DIO mice [1][2] - ASC47 is a selective small molecule agonist of thyroid hormone receptor β (THRβ) designed for monthly subcutaneous injection, targeting fat tissue to achieve high drug concentrations [1] Clinical Study Results - A study comparing low-dose ASC47 (9 mg/kg, subcutaneous) combined with ASC31 (3 nmol/kg, subcutaneous) versus ASC47 combined with terzepatide (3 nmol/kg, subcutaneous) over 14 days showed that the ASC47 and ASC31 combination resulted in an average weight loss of 44.8%, which is 17.6% more than the ASC47 and terzepatide combination (38.1%) [2] - The CEO highlighted the significant differentiation potential of the new therapy compared to existing weight loss drugs and other candidates in development, indicating a robust pipeline for obesity treatments that includes both small molecules and peptides [2]

Core Insights - The company announced promising preclinical efficacy results for its obesity treatment candidates ASC47 and ASC31, which are a combination of a novel GLP-1R/GIPR dual agonist and a selective THRβ agonist [1][2] Group 1: Drug Candidates - ASC31 is a novel GLP-1R and GIPR dual agonist peptide developed by the company, showing good pharmacokinetic characteristics in non-human primates and positive in vivo efficacy in DIO mice [1] - ASC47 is a fat-targeting, once-monthly subcutaneous THRβ selective small molecule agonist, which achieves high drug concentrations in adipose tissue in a dose-dependent manner [1] Group 2: Clinical Study Results - A study comparing low-dose ASC47 (9 mg/kg, subcutaneous) combined with ASC31 (3 nmol/kg, subcutaneous) versus ASC47 combined with teriparatide (3 nmol/kg, subcutaneous) over 14 days showed that the ASC47 and ASC31 combination resulted in an average weight loss of 44.8%, which is 17.6% more than the 38.1% weight loss observed with ASC47 and teriparatide [2] - The CEO highlighted the significant differentiation potential of the new therapy compared to existing weight loss drugs and other candidates in development, indicating a robust pipeline of obesity treatment options that include both small molecules and peptides [2]

Core Insights - Ascletis Pharma Inc. announced promising preclinical efficacy results for ASC47, a first-in-class muscle-preserving weight loss drug candidate, in combination with ASC31, a dual-targeting peptide agonist for GLP-1R and GIPR [2][6] Group 1: Drug Candidates - ASC47 is an adipose-targeted, once-monthly subcutaneously injected thyroid hormone receptor beta (THRβ) selective small molecule agonist, developed in-house at Ascletis, which shows high drug concentrations in adipose tissue [4] - ASC31 is a novel peptide agonist targeting both GLP-1R and GIPR, demonstrating a favorable pharmacokinetic profile and promising efficacy in diet-induced obese (DIO) mice [3][5] Group 2: Efficacy Results - In a DIO mouse model, the combination of a low dose of ASC47 (9 mg/kg, SQ) with ASC31 (3 nmol/kg, SQ) resulted in a 44.8% reduction in body weight after 14 days, compared to a 38.1% reduction with ASC47 combined with tirzepatide [1][5] - The combination of ASC47 with ASC31 was found to be 17.6% more effective than the combination with tirzepatide, with statistical significance (p=0.02) [5] Group 3: Company Overview - Ascletis Pharma Inc. is focused on developing and commercializing potential best-in-class and first-in-class therapeutics for metabolic diseases, utilizing proprietary platforms for drug discovery [7]

Ascletis Pharma Inc. （股份代號：1672） 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所產生或因依 賴該等內容而引致的任何損失承擔任何責任。 歌禮製藥有限公司 （於開曼群島註冊成立的有限公司） － 在飲食誘導肥胖(DIO)小鼠模型中，低劑量ASC47與新型GLP-1R/GIPR雙受 體激動劑多肽ASC31聯用治療14天後，小鼠體重下降44.8%。 － 在DIO小鼠模型中，低劑量ASC47與ASC31聯用的療效（減重44.8%）優於低 劑量ASC47與替爾泊肽聯用（減重38.1%），療效差異具有統計學顯著性。 該DIO小鼠研究旨在對比低劑量ASC47（9 mg/kg，皮下）聯合ASC31（3 nmol/kg， 皮下）與低劑量ASC47（9 mg/kg，皮下）聯合替爾泊肽（3 nmol/kg，皮下）的減 重療效，治療期為14天。結果顯示，ASC47聯合ASC31治療DIO小鼠平均減重 44.8%，比ASC47聯合替爾泊肽(38.1%)多減重17.6%（ p =0.02）。 「我們的 ...