Group 1 - The company believes its current stock price is undervalued and has decided to increase the share buyback fund from a maximum of HKD 300 million to HKD 500 million as of December 15, 2025 [1] - The increase in buyback funds is attributed to significant achievements, including a 13-week Phase II study in the US showing a weight reduction of up to 7.7% for the oral small molecule GLP-1 agonist ASC30 in overweight or obese subjects, with better gastrointestinal tolerance [1] - The selective small molecule agonist ASC47, targeting thyroid receptor β (THRβ), showed a weight reduction improvement of up to 56.2% when combined with semaglutide compared to semaglutide alone in obese subjects [1] Group 2 - The company’s financial position is stable, and the board believes the current trading price does not reflect its intrinsic value [2] - The updated share buyback proposal is expected to enhance the value of the shares and increase shareholder returns, reflecting the company's confidence in its long-term business prospects and growth potential [2] - As of October 2, 2025, the company has utilized approximately HKD 54.28 million (excluding expenses) to repurchase 4.586 million ordinary shares under the buyback authorization [2]

Group 1: Market Movements - Baoji Pharmaceutical-B (02659) surged over 3.2% amid its debut on the Hong Kong Stock Exchange, closing up 138.82% on its first day, with a market capitalization exceeding HKD 20 billion [1] - New Energy (01799) and Xinyi Solar (00968) saw declines of 3.01% and 3.67% respectively, as the photovoltaic sector faced weakness, with rumors of a 30 billion yuan investment for capacity storage by major companies [1] - Xpeng Motors-W (09868) and Li Auto-W (02015) dropped 4.88% and 2.67% respectively, following data from the China Association of Automobile Manufacturers indicating a month-on-month increase in production and sales [1] Group 2: Company-Specific News - Bolek Vision Cloud-B (02592) experienced a significant drop of nearly 15%, having previously doubled in price over 10 trading days, as it announced a new drug trial application to the FDA [2] - Hu Shang Ayi (02589) rose nearly 6% as Nayuki Tea expanded into the U.S. market, enhancing the international presence of Chinese tea brands [2] - Gold stocks fell sharply, with Zijin Mining (02899) and Shandong Gold (01787) declining by 4.29% and 4.94% respectively, following a report on the Bloomberg Commodity Index's upcoming rebalancing [2] Group 3: Cryptocurrency and Technology - Cryptocurrency ETFs faced significant declines, with notable drops in Bitcoin and Ethereum-related funds, as Bitcoin fell 3.3% from its record high, reflecting market pressures amid weak liquidity [3] - Oracle (ORCL.US) continued its downward trend, dropping 2.66% due to delays in delivering AI data centers for OpenAI, attributed to labor and material shortages [6] - Nvidia (NVDA.US) saw a slight increase of 0.73% after announcing the release of its third-generation language model, aimed at writing and programming tasks [6]

据悉，ASC50为歌礼自主研发的口服小分子IL-17靶向抑制剂，IL-17在银屑病等多种自身免疫及炎症性 疾病中已获充分的生物学验证并具备成熟商业价值。ASC50是一种新化学实体(NCE)，拥有美国和全球 化合物专利保护，专利保护期至2043年(不含潜在的专利延期)。 本文源自：智通财经网 消息面上，12月15日，歌礼制药-B发布公告，ASC50在美国开展的一项随机、双盲、安慰剂对照的I期 临床试验(NCT07024602)取得积极顶线结果，该试验是在健康受试者中进行的单剂量递增(SAD)研究， 旨在评估ASC50的安全性、耐受性、药代动力学及外周循环的白细胞介素-17A(IL-17A)靶向结合特征。 46名健康受试者接受了10毫克、30毫克、100毫克、200毫克、400毫克或600毫克ASC50，或匹配的安慰 剂给药。该研究的目标包括评估安全性、耐受性、药代动力学和靶向结合效果。 智通财经获悉，歌礼制药-B(01672)回暖近3%，截至发稿，涨2.01%，报13.2港元，成交额3184.24万港 元。 ...

智通财经APP获悉，歌礼制药-B(01672)回暖近3%，截至发稿，涨2.01%，报13.2港元，成交额3184.24万 港元。 消息面上，12月15日，歌礼制药-B发布公告，ASC50在美国开展的一项随机、双盲、安慰剂对照的I期 临床试验(NCT07024602)取得积极顶线结果，该试验是在健康受试者中进行的单剂量递增(SAD)研究， 旨在评估ASC50的安全性、耐受性、药代动力学及外周循环的白细胞介素-17A(IL-17A)靶向结合特征。 46名健康受试者接受了10毫克、30毫克、100毫克、200毫克、400毫克或600毫克ASC50，或匹配的安慰 剂给药。该研究的目标包括评估安全性、耐受性、药代动力学和靶向结合效果。 据悉，ASC50为歌礼自主研发的口服小分子IL-17靶向抑制剂，IL-17在银屑病等多种自身免疫及炎症性 疾病中已获充分的生物学验证并具备成熟商业价值。ASC50是一种新化学实体(NCE)，拥有美国和全球 化合物专利保护，专利保护期至2043年(不含潜在的专利延期)。 ...

（原标题：歌礼制药-B(01672)：有望成为同类最佳口服小分子IL-17抑制剂ASC50美国I期研究取得积极 的顶线结果） 智通财经APP讯，歌礼制药-B(01672)发布公告，ASC50在美国开展的一项随机、双盲、安慰剂对照的I 期临床试验(NCT07024602)取得积极顶线结果，该试验是在健康受试者中进行的单剂量递增(SAD)研 究，旨在评估ASC50的安全性、耐受性、药代动力学及外周循环的白细胞介素-17A(IL-17A)靶向结合特 征。46名健康受试者接受了10毫克、30毫克、100毫克、200毫克、400毫克或600毫克ASC50，或匹配的 安慰剂给药。该研究的目标包括评估安全性、耐受性、药代动力学和靶向结合效果。 关键发现? ? ? ? ? ●单次口服给药10毫克、30毫克、100毫克、200毫克、400毫克和600毫克 ASC50后，其消除半衰期 (elimination half-life)分别为43、89、91、87、104 和85小时，支持每日一次或有望支持每周一次口服给 药。 ●在10毫克至600毫克剂量範围内，ASC50具有与剂量成比例(dose proportional)的药代动 ...

Core Insights - Ascletis Pharma Inc. announced positive topline results from a Phase I clinical trial for ASC50, an oral small molecule inhibitor targeting IL-17, indicating favorable safety, tolerability, and pharmacokinetics [3][5][7] Group 1: Clinical Trial Results - The Phase I clinical trial was randomized, double-blind, and placebo-controlled, involving 46 healthy participants who received varying doses of ASC50 [3] - ASC50 demonstrated a dose-proportional pharmacokinetic profile from 10 mg to 600 mg, with an elimination half-life ranging from 43 to 104 hours depending on the dose [1][2][8] - All adverse events reported were mild and transient, with no serious adverse events or discontinuations noted during the study [8] Group 2: Target Engagement and Efficacy - Strong target engagement was observed with elevated plasma IL-17A levels persisting until day 7 for higher doses of ASC50 [1][8] - The drug showed higher absolute oral bioavailability and longer half-life compared to another IL-17 inhibitor currently in clinical development [8] Group 3: Future Development - Based on the positive results, ASC50 is advancing to the next phase of clinical development, focusing on multiple ascending doses in participants with mild to moderate plaque psoriasis [5] - ASC50 is positioned as a potential best-in-class oral small molecule IL-17 inhibitor, developed using Artificial Intelligence-assisted Structure-Based Drug Discovery technology [6][7]

歌礼制药-B(01672)发布公告，ASC50在美国开展的一项随机、双盲、安慰剂对照的I期临床试验 (NCT07024602)取得积极顶线结果，该试验是在健康受试者中进行的单剂量递增(SAD)研究，旨在评估 ASC50的安全性、耐受性、药代动力学及外周循环的白细胞介素-17A(IL-17A)靶向结合特征。46名健康 受试者接受了10毫克、30毫克、100毫克、200毫克、400毫克或600毫克ASC50，或匹配的安慰剂给药。 该研究的目标包括评估安全性、耐受性、药代动力学和靶向结合效果。 关键发现 ●在头对头研究中，在非人灵长类动物口服给药后，与LY4100511(DC-853，一款目前处于临床开发阶段 的口服小分子白细胞介素-17(IL-17)抑制剂)相比，ASC50显示出更高的绝对口服生物利用度、更高的药 物暴露量、更长的半衰期以及更低的清除率。 ●在SAD研究中，ASC50安全且耐受性良好。所有不良事件(AE)均为轻度(1级)且持续时间短。未有报告 严重不良事件(SAE)。该研究未有受试者煺出。未检测到肝脏安全性信号。 基于良好的安全性、耐受性、药代动力学及显著的靶向结合效果，ASC50已推进至下一阶段 ...

"这些数据展现了ASC50良好的安全性特征，以及呈剂量依赖性且具有差异化的药代动力学特征，"歌礼 创始人、董事会主席兼首席执行官吴劲梓博士表示，"ASC50作为我们首个通过基于结构的AI辅助药物 发现(ArtificialIntelligence-assisted Structure-Based Drug Discovery，AISBDD)技术开发的免疫学领域口服 小分子候选药物，这些数据令我们感到鼓舞。这些发现突显了ASC50作为同类最佳口服小分子IL-17抑 制剂的潜力。" 格隆汇12月15日丨歌礼制药-B(01672.HK)宣布，ASC50在美国开展的一项随机、双盲、安慰剂对照的I 期临床试验(NCT07024602)取得积极顶线结果，该试验是在健康受试者中进行的单剂量递增(SAD)研 究，旨在评估ASC50的安全性、耐受性、药代动力学及外周循环的白细胞介素-17A(IL-17A)靶向结合特 征。46名健康受试者接受了10毫克、30毫克、100毫克、200毫克、400毫克或600毫克ASC50，或匹配的 安慰剂给药。该研究的目标包括评估安全性、耐受性、药代动力学和靶向结合效果。 ...

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。 Ascletis Pharma Inc. 歌禮製藥有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1672） 自願性公告 歌禮宣布有望成為同類最佳口服小分子IL-17抑制劑ASC50美國I期研究 取得積極的頂線結果 本公告乃歌禮製藥有限公司（「本公司」或「歌禮」，連同其附屬公司稱為「本集 團」）自願作出，以使本公司股東及潛在投資者了解本集團的最新業務發展。 本公司董事（「董事」）會（「董事會」）宣布，ASC50在美國開展的一項隨機、雙 盲、安慰劑對照的I期臨床試驗(NCT07024602)取得積極頂線結果，該試驗是在健 康受試者中進行的單劑量遞增(SAD)研究，旨在評估ASC50的安全性、耐受性、 藥代動力學及外周循環的白細胞介素-17A(IL-17A)靶向結合特徵。46名健康受試 者接受了10毫克、30毫克、100毫克、200毫克、400毫克或600毫克ASC50，或匹 配的安慰劑給藥。該研究 ...

Core Viewpoint - The company, Gilead Sciences-B (01672), has seen a significant stock price increase of over 7%, currently trading at 11.62 HKD with a transaction volume of 56.46 million HKD, following the announcement of a share buyback plan using up to 300 million HKD [1] Group 1: Share Buyback Announcement - The board of directors has decided to exercise the buyback authorization and will repurchase shares in the open market based on market conditions [1] - The company plans to utilize a maximum of 300 million HKD for the proposed share buyback [1] Group 2: Clinical Data and Future Plans - Dongwu Securities has indicated that the company has multiple catalysts in the second half of the year, with several important clinical data releases expected [1] - The company is anticipated to report top-line data for ASC30 oral Phase II, ASC47 Phase I, and ASC50 Phase I by Q4 2025, and for ASC30 subcutaneous Phase II by Q1 2026 [1] - The company expects to submit 2-3 new IND applications to the FDA within the next 6-9 months, including a dual-target peptide weight loss pipeline [1]