据悉，IDE034是一款潜在同类首创的双靶点B7H3/PTK7 TOP1 ADC，由百奥赛图自主开发，并于2024 年7月授权给IDEAYA公司。去年12月，该项目获美国FDA批准临床。此次IND获批标志着双方合作迈入 重要里程碑，为推进IDE034后续的临床开发奠定基础，同时彰显了百奥赛图在双抗ADC发现与开发领 域的技术实力。 消息面上，IDEAYA宣布，其在研PTK7/B7H3双特异性TOP1抗体药物偶联物（ADC）IDE034的Ⅰ期剂 量递增/扩展临床试验已完成首例患者入组。根据双方签署的期权与许可协议，IDE034首例患者给药将 触发IDEAYA向百奥赛图支付500万美元的里程碑款项。 智通财经APP获悉，百奥赛图-B(02315)午前涨超6%，截至发稿，涨6.49%，报53.35港元，成交额 2826.66万港元。 ...

Core Insights - The report highlights changes in the Hong Kong Stock Connect holdings, indicating significant increases and decreases in ownership percentages for various companies. Group 1: Recent Increases in Holdings - VITASOY INT'L (00345) saw an increase of 0.09%, bringing its latest holding percentage to 3.75% [1] - 恒生科技ETF (03032) increased by 0.04%, with a current holding of 18.49% [1] - 永升服务 (01995) experienced a rise of 0.01%, now holding 4.57% [1] - 南方东西精选 (03441) had the largest increase over five days at 18.46%, reaching 41.03% [4] - 喜相逢集团 (02473) increased by 10.04%, with a holding of 45.14% [4] - 兆易创新 (03986) rose by 4.95%, now at 6.65% [4] Group 2: Recent Decreases in Holdings - 南方恒生科技 (03033) experienced the largest decrease of -0.14%, with a current holding of 68.87% [2] - 医渡科技 (02158) decreased by -0.03%, now at 22.59% [2] - 盈富基金 (02800) saw a reduction of -0.02%, with a holding of 3.49% [2] - 山东墨龙 (00568) had a five-day decrease of -1.30%, now at 53.56% [5] - 亿华通 (02402) decreased by -1.00%, with a holding of 27.49% [5] - 国富氢能 (02582) saw a reduction of -0.90%, now at 20.14% [5] Group 3: Long-term Trends in Holdings - Over a 20-day period, 喜相逢集团 (02473) had the highest increase of 42.45%, reaching 45.14% [6] - 南方东西精选 (03441) increased by 27.31%, now at 41.03% [6] - 钧达股份 (02865) rose by 15.74%, with a holding of 64.80% [6] - 天齐锂业 (09696) experienced a significant decrease of -6.48%, now at 31.50% [6] - 金风科技 (02208) decreased by -5.88%, with a holding of 42.49% [6]

Investment Rating - The report maintains a "Recommended" rating for the pharmaceutical industry [5] Core Insights - The underlying logic of the current pharmaceutical industry era is innovation and international expansion, with a focus on innovative drugs and technology-driven sectors [2][3] - The report highlights the strong performance of the CRO market and suggests a dual investment strategy focusing on both "0 to 1" technology innovation and low-position stocks [2][3] - The report emphasizes the ongoing trend of BD (Business Development) transactions in innovative drugs, with significant growth expected in 2026 [4][15] Summary by Sections 1. Key Events in the Pharmaceutical Industry During the Spring Festival - Innovative drug BD transactions have seen a strong start, with significant overseas development and registration progress for key products [13][14] - The total amount of BD transactions for innovative drugs in China for 2026 has already surpassed one-third of the total for 2025 [15] - The revision of the National Essential Medicines List Management Measures may signal changes in the essential medicines directory [28] 2. Pharmaceutical Market Review and Hotspot Tracking - The pharmaceutical sector's performance was relatively weak, with a weekly decline of 0.81%, ranking 20th among all industries [34][38] - The total trading volume for pharmaceuticals was 401.12 billion yuan, accounting for 3.83% of the total market, below the historical average of 7.09% [55] - The report notes a rising valuation level for the pharmaceutical industry, with a PE ratio of 29.25, which is below the historical average [52] 3. Stock Performance Review - The report lists the top-performing stocks, including Dongyangguang and Zhendemedical, while highlighting the underperformers like Huayuan Biology and *ST Sailong [58][59]

Stock Performance - On February 16, 2026, the closing price of Baiaosaitu-B (02315.HK) was HKD 50.95, reflecting a daily decline of 4.77% with a trading volume of 18,000 shares and a turnover of approximately HKD 924,500, indicating a low turnover rate of only 0.02% [1] - The stock price fell below the 5-day moving average of HKD 52.03, while the upper Bollinger Band at HKD 54.957 exerted pressure on the stock price, suggesting a weakening short-term upward momentum [1] - In contrast, the Hang Seng Index rose by 0.52%, while the biotechnology sector, to which the company belongs, experienced a slight decline of 0.02%, indicating a divergence between the stock's performance and the sector's trend [1] Capital Movements - Vico (Hong Kong) Trading Co., Ltd. increased its holdings by 786,000 H-shares at an average price of HKD 27.2784 per share on February 2, raising its ownership from 7.31% to 8.02%, with this change disclosed on February 16 [2] - The purchase price was significantly lower than the closing price of HKD 50.95 on February 16, which may raise concerns among investors regarding short-term valuation pressure [2]

Core Insights - The company Baiaosaitu-B (02315) has reported impressive performance forecasts, with significant progress in external licensing collaborations, leading institutions to be optimistic about its long-term growth potential [1] Financial Performance - For the fiscal year 2025, the company anticipates revenue between 1.369 billion and 1.389 billion yuan, representing a year-on-year growth of 39.61% to 41.65% [2] - The expected net profit attributable to shareholders is projected to be between 162 million and 182 million yuan, showing a substantial year-on-year increase of 384.26% to 443.88% [2] Business Developments - Since 2025, the company has secured significant external licensing agreements with leading domestic and international pharmaceutical companies, including a global licensing agreement for antibody molecules with BeiGene in July 2025 and full human antibody licensing for the RenMice platform with Merck in September 2025 [3] - These licensing agreements are expected to generate milestone payments and contribute to future growth [3] Institutional Perspectives - Research reports from institutions such as Guolian Minsheng Securities highlight the company's innovative advantages in model animals and preclinical CRO business, along with the "Thousand Mice, Ten Thousand Antibodies" initiative, which is expected to drive outstanding performance and open up long-term growth potential through external licensing [4] Stock Performance - The company was added to the Hong Kong Stock Connect eligible securities list on December 24, 2025, which may enhance investor attention and trading activity [5]

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份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 BIOCYTOGEN PHARMACEUTICALS (BEIJING) CO., LTD. 百奧賽圖（北京）醫藥科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2315） 海外監管公告 本公告乃百奧賽圖（北京）醫藥科技股份有限公司（「本公司」）根據香港聯合交易所 有限公司證券上市規則第13.10B條的規定刊發。茲載列本公司於上海證券交易所 網站刊發的《2026年第一次臨時股東會決議公告》，僅供參閱。 承董事會命 百奧賽圖（北京）醫藥科技股份有限公司 一、 会议召开和出席情况 （一） 股东会召开的时间：2026 年 2 月 12 日 董事長、首席執行官兼執行董事 沈月雷 香港，2026年2月13日 於本公告日期，本公司董事會包括董事長、首席執行官兼執行董事沈月雷博士、 執行董事倪健博士；非執行董事周可祥博士、張蕾娣女士及劉弘康先生；獨立非 執行董事華風茂先生、喻長遠博士及梁曉燕 ...

Group 1 - The core point of the article is the appointment of Liu Hongkang as a non-executive director of Baiaosaitu-B (02315.HK), effective from February 12, 2026, until the end of the second board term [1] Group 2 - The appointment was approved by shareholders at an extraordinary general meeting [1]

Core Viewpoint - The company announced the appointment of Mr. Liu Hongkang as a non-executive director, effective from February 12, 2026, until the end of the second board's term [1] Group 1 - The appointment was approved by shareholders at a special general meeting [1] - The board meeting held on January 27, 2026, reviewed and approved Mr. Liu's appointment, pending shareholder approval [1] - Mr. Liu will also serve as a member of the board's audit committee and strategic development committee [1]

BIOCYTOGEN PHARMACEUTICALS (BEIJING) CO., LTD. 百奧賽圖（北京）醫藥科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2315） 董事名單與其角色和職能 百奧賽圖（北京）醫藥科技股份有限公司董事會（「董事會」）成員載列如下： 執行董事 沈月雷博士 （董事長、首席執行官兼總經理） 倪健博士 非執行董事 劉弘康先生 周可祥博士 張蕾娣女士 獨立非執行董事 華風茂先生 喻長遠博士 梁曉燕女士 職工董事 李妍女士 1 董事會下設四個董事會委員會。各董事會成員在這些委員會中所擔任的職位載列 如下： | | 審計委員會 | 薪酬與考核 | | 戰略發展 | | --- | --- | --- | --- | --- | | | | 委員會 | 提名委員會 | 委員會 | | 沈月雷博士 | | | M | C | | 倪健博士 | | M | | | | 劉弘康先生 | M | | | M | | 周可祥博士 | | | | M | | 張蕾娣女士 | | | | M | | 華風茂先生 | M | C | M | | | 喻長遠博士 | M | M ...

Core Viewpoint - The company Baosai Tu-B (02315) has announced the appointment of Mr. Liu Hongkang as a non-executive director, effective from February 12, 2026, until the end of the second board's term [1] Group 1 - The appointment of Mr. Liu was approved by shareholders at an extraordinary general meeting [1] - Mr. Liu will also serve as a member of the board's audit committee and strategic development committee following his appointment [1] - The board meeting to approve Mr. Liu's appointment is scheduled for January 27, 2026, pending shareholder approval [1]