2026年开年以来，随着创新成果的商业化落地及全球化运营的深入，复星国际核心主业延续了此前 强劲的增长势头，在文旅、消费、创新药等赛道迎来新突破。 文旅消费作为复星的核心主业之一，马年春节期间多条产品线展现了出强劲的增长势头。其中，上 海豫园商城新春假期累计接待客流近120万人次，同比提升超20%；Club Med国内五家精致"一价全 包"度假村春节核心假期六日平均入住率达90%；三亚·亚特兰蒂斯春节假期九日总营业额突破1.24亿 元，同比增长20%，创下历史最佳春节表现。 与此同时，春节期间，复星的创新药赛道也好消息不断。旗下的生物医药研发平台复宏汉霖宣布其 研发的HLX15-SC（重组抗CD38全人单克隆抗体注射液-皮下注射）1期临床试验申请分别获中国国家药 监局批准和美国食品药品管理局（FDA）批准。据了解，HLX15是达雷妥尤单抗生物类似药，目标市 场潜力较大，2024年全球销售额约128.8亿美元。而在2月22日，中国首个自主研发的利妥昔单抗生物类 似药——汉利康迎来上市七周年，该药曾一举填补了国产CD20单抗的空白，作为复星医药"十年磨一 剑"的成果，其标志着中国生物药研发迈出了从跟随到并跑的关键 ...

首先，复星医药控股子公司药友制药与辉瑞签订全球独家许可协议，授予辉瑞口服小分子GLP-1药物 YP05002全球范围内独家开发、生产及商业化权利，协议包含首付款、里程碑付款及销售分层特许权使 用费，潜在总金额超20亿美元。其次，复星医药控股子公司复星医药产业与生物技术公司Clavis Bio达 成战略合作，双方将基于由Clavis Bio提名的前沿靶点共同开发创新疗法，根据协议，复星医药将可获 得至多72.5亿美元付款。另外，复星医药自研小分子抑制剂FXS6837与Sitala达成全球授权合作；填补罕 见病治疗空白的复迈宁(芦沃美替尼片)获得沙特阿拉伯的突破性疗法认定，开启全球步伐。 2026年开年以来，随着创新成果的商业化落地及全球化运营的深入，复星国际核心主业延续了此前强劲 的增长势头，在文旅、消费、创新药等赛道迎来新突破。 文旅消费作为复星的核心主业之一，马年春节期间多条产品线展现了出强劲的增长势头。其中，上海豫 园商城新春假期累计接待客流近120万人次，同比提升超20%；Club Med国内五家精致"一价全包"度假 村春节核心假期六日平均入住率达90%；三亚.亚特兰蒂斯春节假期九日总营业额突破1.24 ...

文旅消费作为复星的核心主业之一，马年春节期间多条产品线展现了出强劲的增长势头。其中，上海豫 园商城新春假期累计接待客流近120万人次，同比提升超20%；Club Med国内五家精致"一价全包"度假 村春节核心假期六日平均入住率达90%；三亚·亚特兰蒂斯春节假期九日总营业额突破1.24亿元，同比增 长20%，创下历史最佳春节表现。 与此同时，春节期间，复星的创新药赛道也好消息不断。旗下的生物医药研发平台复宏汉霖宣布其研发 的HLX15-SC（重组抗CD38全人单克隆抗体注射液-皮下注射）1期临床试验申请分别获中国国家药监局 批准和美国食品药品管理局（FDA）批准。据了解，HLX15是达雷妥尤单抗生物类似药，目标市场潜 力较大，2024年全球销售额约128.8亿美元。而在2月22日，中国首个自主研发的利妥昔单抗生物类似药 ——汉利康迎来上市七周年，该药曾一举填补了国产CD20单抗的空白，作为复星医药"十年磨一剑"的 成果，其标志着中国生物药研发迈出了从跟随到并跑的关键一步。 创新药等进入密集收获期，创新引擎动力强劲 2025年，复星的创新研发以肉眼可见的速度推进，尤其以创新药为代表，已取得了全球范围内的商业落 地 ...

医药赛道方面，2025年多项关键性的创新药BD为未来复星创新药的可持续性增长，打下了坚实的基 础。其中，复星医药控股子公司药友制药与辉瑞签订全球独家许可协议，授予辉瑞口服小分子GLP-1药 物YP05002全球范围内独家开发、生产及商业化权利，协议包含首付款、里程碑付款及销售分层特许权 使用费，潜在总金额超20亿美元；复星医药控股子公司复星医药产业与生物技术公司Clavis Bio达成战 略合作，双方将基于由Clavis Bio提名的前沿靶点共同开发创新疗法，根据协议，复星医药将可获得至 多72.5亿美元付款。 2026年开年以来，复星在旅文、医药、保险等核心赛道表现亮眼。公开信息显示，复星旗下ClubMed国 内5家精致"一价全包"度假村入境营业额较去年同期实现翻三倍增长，旗下生物医药研发平台复宏汉霖 宣布与卫材株式会社就抗PD-1单抗汉斯状在日本达成独家商业化及共同独家开发与生产许可协议，潜 在总金额超3亿美元。 新春旅游需求的承接及创新药的持续商业化落地等，延续了复星2025年核心赛道稳中有升的发展态势。 纵观复星过去一年的发展和今年的开年势头，"瘦身健体"的战略推进依旧坚定：退出一些非核心项目的 同时 ...

2025年，我们实现了从单品授权出海向体系化价值出海的质变，我们新增4款产品登陆海外市场，我们自主研发的H药 汉斯状®、HLX11、HLX14在欧美主 流市场接连获批，多产品矩阵在欧美主流市场协同推进，标志着我们的多产品矩阵已具备在全球生物药主流市场协同作战的能力。在广阔的新兴市场，H药 汉斯状®成为印度唯一获批小细胞肺癌的PD-1抑制剂，上市12天即惠及150余位患者。这一系列成功不仅是产品的胜利，也是复宏汉霖质量体系、临床数据 和注册策略获得全球监管机构系统性认可的证明，更印证了中国药企在全球主流医药市场实现系统性突破的实力。 背景介绍： 当2025年的日历翻至末页，生物医药产业正站在一个特殊的历史节点——这既是"十四五"的收官沉淀之年，更是"十五五"宏伟蓝图的启航之时。这一年，技 术狂飙与商业理性的碰撞、全球化布局与本土化深耕的平衡、"创新驱动"向"价值驱动"的范式转型，共同勾勒出2025年的行业主线。2026年，产业如何跨越 技术周期与资本周期的双重考验，在"健康中国"战略与全球创新格局双轨并行中，探寻可持续增长路径？思享启发思想，"生物医药大健康2026思享汇：双 轨并行・破局生长"重磅上线，与核心 ...

智通财经APP获悉，复宏汉霖(02696)早盘涨近5%，截至发稿，涨4.1%，报58.4港元，成交额1916.32万 港元。 消息面上，近日，复宏汉霖在美国旧金山顺利举办HLX22-GC-301研究线下研究者会。会议围绕公司在 研新表位抗HER2单抗HLX22联合曲妥珠单抗及化疗一线治疗HER2阳性晚期胃癌的国际多中心III期临 床研究HLX22-GC-301展开。 值得注意的是，复宏汉霖近日宣布，收到国家药监局关于同意注射用HLX43联合HLX07及斯鲁利单抗 注射液用于晚期实体瘤治疗开展临床试验的批准。复宏汉霖计划在条件具备后于中国境内开展该联合治 疗方案的II期临床研究。 ...

HLX43研发进展： 复宏汉霖HLX43三联疗法获批临床试验 核心要点： 获批情况：HLX43（靶向PD-L1抗体偶联药物）联合HLX07（抗EGFR单抗）及汉斯状（斯鲁利单抗） 用于晚期实体瘤治疗的临床试验申请获NMPA批准，拟在中国境内开展。 临床数据显示：既往治疗失败的NSCLC患者ORR达37.0%，DCR达87.0%；宫颈癌患者ORR达 41.4%（3.0mg/kg剂量组达70%） 市场地位：全球范围内尚无同类联合用药方案获批上市。 风险提示：公司无法确保能成功开发及商业化HLX43及HLX07。 在中国、美国、日本等多地开展1期/2期临床试验 覆盖NSCLC、结直肠癌、宫颈癌、食管鳞癌等多个适应症 ...

Core Insights - The forum emphasized the resilience, innovation, and aspirations of Zhejiang merchants amidst the waves of the Chinese economy, with notable discussions on macroeconomic trends and opportunities for private enterprises [1] - Guo Guangchang expressed optimism for 2026, highlighting the gradual digestion of negative factors and the inherent resilience of the Chinese economy [1] Economic Resilience and Innovation - Guo noted that the current economic climate is warmer compared to the previous year, indicating a recovery in both weather and economic conditions [1] - He emphasized the importance of private enterprises, particularly in technology, showcasing their global competitiveness in emerging industries like AI, robotics, and biomedicine [3] - The success of Fosun's biopharmaceutical platform, including the global breakthroughs of its products, illustrates the potential for significant market opportunities, with several products having a global market potential of billions [3] Globalization and Market Strategy - Guo highlighted the competitive landscape between the US and China, asserting that the two economies are interconnected, which provides opportunities for collaboration despite competition [3] - Fosun's global strategy includes significant partnerships, such as the agreement with Pfizer for a GLP-1 drug, with a potential total value exceeding $2 billion, and a collaboration with Clavis Bio worth up to $7.25 billion [4] - The company aims to leverage China's market size and efficiency advantages to enhance its global presence, with overseas revenue reaching 46.67 billion yuan in the first half of 2025, accounting for 53% of total revenue [9] Consumer Market and Product Development - The focus on product strength and innovation is crucial for capturing opportunities in China's vast consumer market, which remains robust despite economic challenges [7] - Fosun's ventures in tourism and consumer goods have shown positive market responses, with high occupancy rates in hotels and successful product launches in the consumer sector [7][8] - New products from Fosun's ecosystem, such as the "Old Beijing Fresh Milk" and "Shede Zizai" liquor, have gained popularity, demonstrating the effectiveness of product innovation [8]

Group 1 - The core point of the news is that Fuhong Hanlin has received approval from the China Securities Regulatory Commission for the full circulation of approximately 182.6 million unlisted shares, which is expected to enhance stock liquidity and attract more international investors [1] - The full circulation signifies not only an adjustment in share structure but also an optimization of corporate governance and unification of shareholder interests, which is beneficial for Chinese innovative pharmaceutical companies aiming for globalization [1][2] - Fuhong Hanlin's strategy of "differentiated innovation + global operation" has shown a clear trajectory, with successful product launches and deepening pipeline layouts, demonstrating strong growth resilience in the capital market [1] Group 2 - The pharmaceutical sector has experienced a recovery curve from the bottom, supported by favorable policies, returning funds, AI technology, and the international expansion of innovative drugs, leading to a significant valuation recovery [3] - As of December 31, 2025, both Hong Kong and A-share pharmaceutical sectors recorded substantial gains, with the Hang Seng Healthcare Index rising by 56.95%, while Fuhong Hanlin's stock surged by 140.71%, peaking at over 505% during the year [3] - The outlook for 2026 indicates a clearer development logic for the pharmaceutical industry, with a comprehensive policy support system for innovation and a growing global presence for Chinese innovative drugs [4] Group 3 - Fuhong Hanlin's global expansion has entered a new phase, with a commercial product matrix that has grown to 10 approved products and 5 applications accepted by the NMPA and EMA, covering over 60 countries and benefiting more than 950,000 patients [6][7] - The flagship product, Hanquyou®, has been approved in over 50 markets, while Hanshuang® has received approvals in more than 40 countries, including a significant approval in Peru for a PD-1 monoclonal antibody [7] - The company has accelerated its global layout through various licensing agreements with firms like Sandoz and Dr. Reddy's, which not only provide immediate cash flow but also facilitate entry into mature markets [7] Group 4 - Fuhong Hanlin has established a diverse and high-quality R&D pipeline with over 50 early-stage molecules, focusing on best-in-class (BIC) and first-in-class (FIC) products, including monoclonal antibodies and ADCs [9] - The company has developed multiple innovative platforms to ensure the quality and efficiency of R&D, which supports the creation of a competitive long-term innovation pipeline [9] - Key clinical and registration milestones for 2026 include significant advancements for Hanquyou® and HLX22, with plans for multiple global clinical studies and regulatory submissions [11][12] Group 5 - Fuhong Hanlin's future innovation therapies include ADCs, bispecific antibodies, and TCE products, with over 40 new clinical research applications expected to be approved within five years [16] - The company's growth trajectory reflects the broader narrative of the value reassessment of Chinese innovative pharmaceuticals, showcasing its ability to navigate from a local player to a global leader [16][17] - The full circulation not only brings opportunities for governance optimization and valuation reshaping but also resonates with the company's dual strategy of innovation and globalization [16]

至2030年计划在全球范围内上市超过20款产品。 本文为IPO早知道原创 作者｜ 罗宾 微信公众号｜ipozaozhidao 据IPO早知道消息，1月16日，复宏汉霖（2696.HK）发布公告，公司已获得中国证监会出具的境内未上市股份"全流 通"备案通知书。公司就约1.826亿股非上市股份转换为H股并全流通上市的备案已完成，该备案自出具之日起12个月内有 效。此次H股全流通将有助于提升公司股份流动性，优化股权结构。 同时，在15日落幕的第44届摩根大通医疗健康年会上，复宏汉霖披露了全球化2.0阶段战略及2026年核心产品临床里程碑 计划。 复宏汉霖执行董事兼首席执行官朱俊博士表示，复宏汉霖已有10款产品在全球多个国家和地区获批上市，覆盖60个市场。 预计到2030年，公司计划在全球范围内上市超过20款产品，其中在美国和欧洲上市产品有望超过15款。未来5年，公司将 依托生物类似药提供的稳定现金流，反哺创新研发，推动包括ADC、多特异性抗体、T细胞衔接器（TCE）等差异化分子 走向全球，构建可持续的国际化增长模式。 展望2026年的里程碑，公司核心产品汉斯状®（斯鲁利单抗，欧洲商品名：Hetronifly®）目前 ...