6月26日早间，信达生物发布公告，公司与联席配售代理订立配售协议，公司同意委任联席配售代理， 而联席配售代理同意作为配售代理行事，作为公司的代理根据配售协议所载的条款并在其条件规限下， 促使承配人（否则自行）以配售价购买5500万股配售股份。 信达生物还表示，配售事项所得款项总额预期约为43.1亿港元；扣除所有相关成本及开支，包括佣金及 征费后，所得款项净额将约为42.65亿港元。 当日信达生物低开，随后震荡下行，一度跌超5%，截至收盘报78.6港元/股，下跌4.61%。 针对此次配售新股的原因以及所得款项的用途，信达生物表示，锚定"成长为国际一流的生物制药企 业"的长期愿景，公司正步入全球创新的新成长周期。创新管线的全球化布局已逐步成为公司潜在的重 要增长引擎，并展现出其核心竞争力。 信达生物认为，本次配售事项将更好地支持公司的全球化布局，并赋予本公司在管线开发上更多支持和 灵活性。这将有助于充分挖掘并加速实现公司丰厚管线的价值潜能，为公司与股东创造可持续的长期回 报。因此，董事认为，配售事项符合本集团及股东的整体利益。 本次配售事项所得净款项中，约90%（即约38.39亿港元）用于推进公司临床及临床前重点 ...

证券代码：688180 证券简称：君实生物 公告编号：临 2025-036 上海君实生物医药科技股份有限公司 关于完成根据一般授权配售新 H 股的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 上海君实生物医药科技股份有限公司（以下简称"本公司"）于 2025 年 6 月 13 日披露了《上海君实生物医药科技股份有限公司关于根据一般授权配售新 H 股的公告》（公告编号：临 2025-034，以下简称"配售公告"），内容有关本 公司配售 41,000,000 股新 H 股（以下简称"配售事项"）。除文义另有所指外， 本公告所用所有词汇与配售公告所界定者具有相同涵义。 一、 完成配售事项 董事会欣然宣布，配售协议所载的所有配售事件先决条件已达成（包括香港 联交所批准配售股份上市及买卖），配售事项已于 2025 年 6 月 20 日完成（以下 简称"配售完成"）。 经独家配售代理通知，已根据配售协议中的条件及条款按每股 H 股 25.35 港 元的配售价格向符合条件的承配人成功配售合计 41,000,000 股 H 股配售 ...

近日，一则配股公告让近期风光无限的君实生物突遭市场冷遇。公告披露后，公司股价录得三连阴，跌 幅分别达6.65%、0.91%、3.1%。 高折价配股，研发管线"输血"迫切 根据公告，君实生物以每股25.35港元的价格配售4100万股新H股，较前一日收盘价折让高达11.52%， 预计募资净额约10.26亿港元。这笔资金的去向直指公司"烧钱"核心——70%将投入创新药研发，重点包 括JS207、JS212、JS213等双抗及ADC药物管线，剩余30%用于补充营运资金。 百亿研发投入背后的资金困局 作为手握4款商业化药品、近30款临床阶段药物的创新药企，君实生物的研发投入堪称豪掷。2021至 2024年累计研发费用超76亿元，2025年一季度研发投入同比再增26.89%至3.51亿元，占营收比例高达 70.03%。 然而巨额投入尚未换来盈利曙光。尽管核心产品拓益®一季度销售收入猛增45.72%至4.47亿元，推动总 营收增长31.46%，公司仍录得2.35亿元亏损。截至3月底，账面现金及金融资产仅30.22亿元，面对后期 临床高投入，资金链压力凸显。 资本市场的信心考验 此次配股恰逢君实生物股价高位——年内H股累计暴 ...

Core Viewpoint - Junshi Bioscience has announced a new H-share placement, which has led to a decline in its stock prices in both A-share and Hong Kong markets, indicating market concerns about the company's financial strategies and performance [1][2]. Group 1: Stock Performance - On June 17, Junshi Bioscience's A-share closed at 34.64 CNY, down 3.10%, while its Hong Kong share closed at 23.50 HKD, down 9.09% [1]. - The stock had previously closed at 36.08 CNY and 25.65 HKD on June 13, reflecting a decline of 6.65% and 10.47% respectively [1]. Group 2: H-share Placement Details - The company plans to issue 41,000,000 new H-shares at a price of 25.35 HKD per share, which represents approximately 18.70% of the total issued H-shares and 4.16% of the total issued shares as of the announcement date [2]. - The expected total proceeds from the placement are approximately 1,039 million HKD, with a net amount of about 1,026 million HKD after deducting commissions and estimated expenses [2]. Group 3: Use of Proceeds - The company intends to allocate 70% of the net proceeds from the placement towards innovative drug research and development, including projects like JS207, JS212, and JS213 [3]. - The remaining 30% of the net proceeds will be used to supplement working capital and other general corporate purposes [3]. Group 4: Historical Financial Performance - Since its listing on July 15, 2020, Junshi Bioscience has experienced a significant decline in stock price, with the highest price reaching 220.40 CNY on the first trading day [5][6]. - The company has not declared any dividends or stock transfers since its IPO, and its cumulative fundraising from two rounds amounts to 8.613 billion CNY [7]. - The net profit attributable to shareholders has been negative for several years, with figures ranging from -1.35 billion CNY in 2016 to -12.81 billion CNY in 2024 [7].

Core Viewpoint - Junshi Bioscience plans to raise approximately HKD 1.039 billion through the placement of 41 million new H-shares at a price of HKD 25.35 per share, which represents an 11.52% discount to the closing price on June 12 [1] Group 1: Fundraising and Use of Proceeds - The company intends to allocate 70% of the raised funds for innovative drug development, focusing on dual-specific antibodies such as JS207 (PD-1/VEGF), JS212 (EGFR/HER3), and JS213 (PD-1/IL-2) [1] - The remaining funds will be used to supplement working capital [1] - Junshi Bioscience previously announced an investment of CNY 767 million in the PD-1/VEGF dual antibody (JS207) [1] Group 2: Clinical Development and Market Position - JS207 is currently in Phase II clinical trials, with plans to conduct key clinical trials for lung cancer, breast cancer, liver cancer, colorectal cancer, and other advanced solid tumors [1] - Junshi Bioscience, established in December 2012, was the first domestic company to receive approval for a PD-1 monoclonal antibody, but its product, Toripalimab, has faced stiff competition from later entrants [4] - Toripalimab remains the company's leading product, generating CNY 1.501 billion in domestic sales in 2024, accounting for 77% of total revenue of CNY 1.948 billion [4] Group 3: Financial Performance and Market Trends - Despite not yet achieving profitability, the company's losses have significantly narrowed in 2024, with Q1 revenue and net loss reported at CNY 500 million and CNY 235 million, respectively [4] - The PD-1/VEGF dual antibody field has gained traction, with significant competitive developments, including a head-to-head trial where a competitor's product outperformed the leading PD-1 drug [5] - The innovative drug sector has seen a strong performance in the A-share market, with a 12.72% increase in May and a total increase of over 22% from April to June [6]