中国抗体董事长、执行董事兼首席执行官梁瑞安称，非常高兴公司在《欧洲呼吸杂志子刊-开放研究》 上发表了关于SM17的临床前研究，突显了其治疗CRSwNP和IPF的潜力。这些结果表明SM17是一种极 具前景的潜在同类首创生物制剂，靶向关键的上游警报素(IL-25)。通过同时靶向Th2炎症、Th17分化和 纤维化，SM17可能为CRSwNP和IPF提供一种多方面的治疗策略，有潜力填补当前针对下游效应器疗法 存在局限性的未满足需求。 智通财经APP获悉，中国抗体-B(03681)再涨超5%，截至发稿，涨4.62%，报2.04港元，成交额1336.18万 港元。 消息面上，中国抗体宣布，其同类首创抗IL-17RB抗体SM17的临床前研究已在《欧洲呼吸杂志子刊-开 放研究》上发表。该研究显示，SM17通过双重抑制Th2/Th17通路及抗纤维化活性，显著改善慢性鼻窦 炎伴鼻息肉（CRSwNP）和特发性肺纤维化（IPF）的病理特征，支持其成为变革性疗法的潜力。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2026年1月31日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | 中國抗體製藥有限公司 | | | | 呈交日期: | 2026年2月4日 | | | | I. 法定/註冊股本變動 不適用 | | | | | 備註： | | | | | 中國抗體製藥有限公司是一間於香港註冊成立的公司，因此法定股本及面值的概念並不適用。 | | | | FF301 第 1 頁 共 10 頁 v 1.2.0 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03681 | 說明 | 不適用 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年12月31日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | 中國抗體製藥有限公司 | | | | 呈交日期: | 2026年1月7日 | | | | I. 法定/註冊股本變動 | 不適用 | | | | 備註： | | | | | 中國抗體製藥有限公司是一間於香港註冊成立的公司，因此法定股本及面值的概念並不適用。 | | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03681 | 說明 | | 不適用 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫 ...

Market Performance - The Hong Kong stock market experienced a strong upward trend on December 12, with the Hang Seng Index rising by 446.28 points, or 1.75%, closing at 25,976.79 points [1] - The Hang Seng Tech Index increased by 103.46 points, or 1.87%, closing at 5,638.05 points [1] - The China Enterprises Index rose by 145.07 points, or 1.62%, closing at 9,079.35 points [1] - The Red Chip Index gained 47.77 points, or 1.16%, closing at 4,150.4 points [1] Sector Performance - Technology stocks saw significant gains, with NetEase rising over 4%, and Tencent, Alibaba, and Lenovo increasing by over 2% [1] - Power equipment stocks surged, with Dongfang Electric rising over 13% [1] - Gold stocks generally rose, with Zijin Mining International increasing by over 3% [1] - Chinese brokerage stocks saw a late rally, with China Galaxy rising over 6% [1] - Insurance stocks strengthened in the afternoon, with China Pacific Insurance and China Life both rising over 5% [1] - AIGC concept stocks and real estate blue-chip stocks also saw gains [1] - However, the Everbright system and tobacco stocks declined [1] Company News - Hong Kong Electronic Commerce reported a total merchandise transaction value of HKD 636 million in November, a year-on-year decrease of 7.4% [2] - BOE Technology Group signed a total product processing agreement with its Vietnam subsidiary [2] - China Galaxy completed the issuance of a short-term corporate bond worth 4 billion yuan [2] - Cloudy Technology plans to establish a joint venture focusing on innovative robotic solutions [3] - Cloudtop New Horizon signed a commercialization service agreement with Haisen Bio [3] - Peijia Medical's TaurusTrio transcatheter aortic valve system received approval from the National Medical Products Administration [3] - China Antibody's SM17 new drug research application was accepted by the National Medical Products Administration [4] - Hengyi Holdings plans to undergo capital restructuring and fundraising activities [5] Institutional Insights - GF Securities noted that the Hong Kong stock market is more sensitive to external risks, with potential rebounds expected in mid to late December and early January [6] - Dongwu Securities believes the market is still in a left-side phase, requiring patience for a rebound [6] - Everbright Securities indicated that while there is significant room for growth compared to previous bull markets, the current market may lack strong catalysts [6] - Guoxin Securities highlighted that the recent net inflow of southbound funds into the Hong Kong market exceeded 110 billion yuan in November, indicating strong liquidity and a willingness to invest at lower levels [6] - The forecast for the Hong Kong market in 2026 is expected to range between 30,000 and 32,000 points [6] Industry Trends - The ice and snow economy is emerging as a new growth point, encompassing ice and snow sports, tourism, equipment, and culture [7] - This sector is characterized by a long industrial chain, significant spillover effects, and high social benefits, contributing to regional economic development [7] - The increasing popularity of ice and snow sports and tourism is transforming "cold resources" into a "hot economy," leading to rapid growth in the ice and snow industry [7] - There is a recommendation to focus on ice and snow sports brands with marginal improvements and stable dividend-paying leading companies [7]

Core Insights - Company has submitted an Investigational New Drug (IND) application for SM17 targeting inflammatory bowel disease (IBD) to the National Medical Products Administration (NMPA) in China, which has been accepted [1] - The approval of the IND application allows the use of Phase 1 clinical trial data from healthy volunteers to support the advancement of IBD indications to Phase 2 clinical development [1] - SM17 represents a significant milestone as it expands its treatment scope from atopic dermatitis (AD) to IBD, addressing chronic diseases like Crohn's disease (CD) and ulcerative colitis (UC) with substantial unmet medical needs [1] Mechanism of Action - SM17 is a novel humanized IgG4-k monoclonal antibody that targets the IL-25 receptor to modulate type II inflammatory responses [2] - By blocking IL-25 induced signaling cascades, SM17 inhibits downstream cytokines IL-4, IL-5, and IL-13, making it a promising candidate for UC treatment [2] - In CD, SM17 offers dual potential benefits by regulating Th17-driven inflammation and exerting anti-fibrotic effects, which may help improve complications like bowel strictures and fistulas [2] Disease Context - IL-25 is a key cytokine associated with the pathophysiology of IBD, which arises from dysfunctional immune responses to normally harmless commensal bacteria [3] - IBD symptoms can include severe diarrhea, abdominal pain, rectal bleeding, and weight loss, with late-stage complications such as fistulas and bowel strictures [3] - The global annual cost for IBD management exceeds $34 billion, and existing therapies fail to meet the needs of 20% to 50% of patients due to primary non-response or secondary loss of response [3] Clinical Development and Market Opportunity - SM17 is currently undergoing a formulation bridging clinical trial, expected to complete by the end of February next year, with plans to enter Phase 2 clinical trials for AD by mid-2026 [4] - The company views the expansion of SM17's indications from AD to IBD as a significant opportunity to address unmet medical needs in a clinically and commercially valuable area [4] - Targeting upstream inflammatory cytokine pathways may provide broader effects on skin inflammation, demonstrating SM17's potential for safer and more effective treatment options with differentiated advantages [4]

Core Viewpoint - China Antibody-B (03681) has submitted an Investigational New Drug (IND) application for SM17 targeting inflammatory bowel disease (IBD) to the National Medical Products Administration (NMPA), which has been accepted [1] Group 1: Drug Development and Clinical Trials - The IND approval allows the use of data from completed or ongoing Phase 1 clinical trials in healthy volunteers to support the advancement of IBD indications to Phase 2 clinical development [1] - SM17 is currently undergoing a formulation conversion bridging clinical trial, expected to complete by the end of February next year, with plans to enter Phase 2 clinical trials for atopic dermatitis (AD) by mid-2026 [4] Group 2: Mechanism of Action - SM17 is a novel humanized IgG4-k monoclonal antibody that targets the IL-25 receptor to modulate type II inflammatory responses, blocking the signaling cascade induced by IL-25, which is associated with inflammatory bowel diseases [2] - The drug has dual potential benefits in Crohn's disease (CD) by regulating Th17-driven inflammation and exhibiting anti-fibrotic effects, which may help improve complications such as bowel strictures and fistulas [2] Group 3: Market Opportunity and Unmet Medical Needs - IBD, including CD and ulcerative colitis (UC), presents significant unmet medical needs, with existing therapies failing to meet the needs of 20% to 50% of patients due to primary non-response or secondary loss of response [3] - The global annual cost for managing IBD is estimated to exceed $34 billion, highlighting the substantial market opportunity for effective treatments [3] - The expansion of SM17's indications from AD to IBD represents a significant clinical and commercial opportunity to address unmet medical needs in this area [4]

Group 1 - The core point of the news is that China Antibody-B (03681.HK) has submitted a new drug research application (IND) for SM17 targeting inflammatory bowel disease (IBD) to the National Medical Products Administration (NMPA) of China, which has been accepted [1] - The approval of the IND application allows the data from the completed or ongoing Phase 1 clinical trials in healthy volunteers to be used to support the advancement of IBD indications to Phase 2 clinical development [1] - This IND application marks a significant milestone for SM17, expanding its treatment range from atopic dermatitis (AD) to IBD, which includes chronic and debilitating diseases such as Crohn's disease (CD) and ulcerative colitis (UC), addressing significant unmet medical needs [1] Group 2 - SM17 is a novel, globally first humanized IgG4-k monoclonal antibody designed to target the type II immune core "alarmin" molecule interleukin-25 (IL-25) receptor, regulating type II inflammatory responses [2] - By binding to the IL-25 receptor on the surface of type II innate lymphoid cells (ILC2s) and Th2 cells, SM17 can block the signaling cascade induced by IL-25, thereby inhibiting downstream cytokines IL-4, IL-5, and IL-13 [2] - This mechanism positions SM17 as a promising candidate for treating UC, where IL-25 plays a pro-inflammatory role, and it also offers dual potential benefits in CD by regulating Th17-driven inflammation and exerting anti-fibrotic effects, which may help improve complications such as intestinal strictures and fistulas [2]

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 任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 SM17新藥研究申請獲國家藥品監督管理局藥品審評中心受理 茲提述中國抗體製藥有限公司（「本公司」，連同其附屬公司統稱「本集團」）所刊發 日 期 為 二 零 二 二 年 二 月 十 六 日 、 二 零 二 二 年 三 月 十 四 日 、 二 零 二 二 年 六 月 十 五 日 、 二 零 二 三 年 五 月 二 十 二 日 、 二 零 二 三 年 六 月 十 二 日 、 二 零 二 三 年 八 月 十 四 日、二零二三年九月十一日、二零二三年十一月二十七日、二零二四年六月十一 日、二零二五年四月七日及二零二五年十月十四日的過往公告，內容有關本集團 主要產品之一SM17研發進展。 本公司董事會（「董事會」）欣然宣佈，於二零二五年十二月十一日，一項SM17針對 炎 症性 腸病（「IBD」）的 新藥 研究 申 請（「IND」）， 已 提交 予中 國 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年11月30日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | 中國抗體製藥有限公司 | | | | 呈交日期: | 2025年12月4日 | | | | I. 法定/註冊股本變動 不適用 | | | | | 備註： | | | | | 中國抗體製藥有限公司是一間於香港註冊成立的公司，因此法定股本及面值的概念並不適用。 | | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03681 | 說明 | | 不適用 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年10月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 中國抗體製藥有限公司 | | | 呈交日期: | 2025年11月5日 | | | I. 法定/註冊股本變動 不適用 | | | | 備註： | | | | 中國抗體製藥有限公司是一間於香港註冊成立的公司，因此法定股本及面值的概念並不適用。 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 | 1. 股份分類 | | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號(如上市) | | 03681 | 說明 | 不適用 | | | | | | | | | 股份期權計劃詳情 | | 上月底結存的股份期權數 目 | 本月內變動 | | 本月底結 ...