Group 1 - Tongce Medical's chairman and executives plan to increase their shareholding by 6 to 12 million yuan within six months, following recent purchases totaling approximately 1.34 million yuan [1] - Luxshare Precision has repurchased 9.9006 million shares for nearly 500 million yuan, representing 0.14% of its total share capital [2] - Jintai Construction's subsidiary won a project in Malaysia worth approximately 281 million yuan, accounting for 1.53% of the company's audited revenue for 2024 [3] Group 2 - Kela Co. announced the removal of independent director Jing Naiquan due to loss of independence and failure to fulfill duties [4] - Mingyang Smart Energy is planning to acquire 100% of Zhongshan Dehua Chip Technology Co., with ongoing audits and evaluations [5] - BGI Genomics intends to sell a subsidiary's equity for approximately 50 million USD and adjust licensing agreements [6] Group 3 - Guotou Capital reported that valuation adjustments at Guotou Ruijin Fund are expected to impact 2026 net profit by less than 5% [7] - Donghong Co. won a bid for a pressure steel pipe project worth 353 million yuan [9] - Yashi Chuangneng's major shareholder's shares, amounting to 2.9165% of total shares, will be auctioned, but it will not affect the company's operations [10] Group 4 - Frontier Biotech signed an exclusive licensing agreement with GlaxoSmithKline, receiving an upfront payment of 40 million USD and potential milestone payments totaling up to 950 million USD [11] - Kede CNC's major shareholders committed not to reduce their holdings for the next six months [12] - Richen Co. reported a 31.87% increase in net profit for 2025, driven by market expansion and operational efficiency [13] Group 5 - Jiayou International's PPP project in Zambia has officially commenced commercial operations and charging [14] - Junxin Co. updated its H-share listing application, pending approvals from regulatory bodies [15] - Shuangliang Energy's subsidiary won a bid for a 100 million yuan project in the Middle East [16][17] Group 6 - Baili Tianheng's drug candidate achieved primary endpoints in a Phase III clinical trial for triple-negative breast cancer [18] - ST Jinglan announced a significant stock price increase of 86.90% without major changes in performance, warning of potential stock suspension if prices continue to rise [19] - *ST Huiteng projected a revenue of 330 to 400 million yuan for 2025, with negative net profit expected [20]

五成公司预告盈利药明康德、三生国健等预盈超10亿 以业绩预告净利润下限统计，已公布2025年业绩预告的274家医药生物上市公司中，137家预计实现盈利，占比五成。 其中，10家公司预告归母净利润超10亿元，包括药明康德、三生国健、吉林敖东等。 新华财经北京2月24日电截至2026年2月12日，根据申万行业分类，A股医药生物行业逾500家上市公司，其中约274家已披露2025年业绩预告。 整体来看，已披露2025年业绩预告的274家医药生物上市公司中，业绩偏正面（包括预增、略增、扭亏及续盈）的企业合计90家。 137家医药生物上市公司2025年实现盈利，占比50%，其中10家归母净利润超10亿元。 图1：A股医药生物行业上市公司2025年业绩预告类型 图3：药明康德2025年度业绩预告 | | 2025年预告利润超过10亿元 | | | --- | --- | --- | | 证券代码 | 证券简称 | 业绩预告类型 | | 603259.SH | 药明康德 | 预增 | | 688336.CH | 三生国健 | 预增 | | 000623.SZ | 吉林敖东 | 预增 | | 688578.SH | 艾力斯 ...

公告还显示，iza-bren已有7项适应症被国家药监局药审中心纳入突破性治疗品种名单，1项获美国FDA 同类认定，其治疗鼻咽癌、食管鳞癌的两项上市申请已被国家药品监督管理局药品审评中心(CDE)受理 并纳入优先审评。 据悉，这是该双抗ADC达到主要终点的第三个Ⅲ期临床研究，也是全球首个双抗ADC药物在三阴乳腺 癌治疗中取得PFS/OS双阳性结果的Ⅲ期临床研究(研究方案编号：BL-B01D1-307)。公告显示，作为全 球首创、唯一进入Ⅲ期临床阶段的EGFR×HER3双抗ADC，iza-bren目前正在中美两国开展40余项针对 多种肿瘤类型的临床试验。 本报讯(记者蒙婷婷)2月23日晚间，四川百利天恒药业股份有限公司(以下简称"百利天恒")发布公告称， 公司核心产品iza-bren(EGFR×HER3双抗ADC)用于局部晚期或转移性三阴乳腺癌的Ⅲ期临床试验期中分 析，成功达到双主要终点，实现全球范围内的突破性进展。 公告显示，该Ⅲ期临床研究独立数据监查委员会(iDMC)在预设的期中分析中建议："基于现有结果与监 管沟通提前申报，同时继续随访受试者。"顶线数据表明，iza-bren可显著延长患者无进展生存期(PF ...

公告显示，截至目前，iza-bren已有7项适应症被国家药品监督管理局药品审评中心纳入突破性治疗品种 名单，1项适应症被美国食品药品监督管理局纳入突破性治疗品种名单。其中iza-bren两个适应症，用于 治疗局部晚期或转移性鼻咽癌、用于治疗复发性或转移性食管鳞癌的上市申请已获得国家药品监督管理 局药品审评中心受理且被纳入优先审评程序。 北京商报讯（记者 丁宁）2月23日晚间，百利天恒（688506）发布公告称，iza-bren（EGFR×HER3 双抗 ADC）用于局部晚期或转移性三阴乳腺癌III期临床试验的期中分析达到主要终点。顶线数据显示iza- bren显著延长了无进展生存期（PFS）和总生存期（OS），达到双主要终点。这是该双抗ADC达到主要 终点的第三个III期临床研究，也是全球首个双抗ADC药物在三阴乳腺癌治疗中取得PFS/OS双阳性结果 的III期临床研究。 ...

证券代码：688506 证券简称：百利天恒 公告编号：2026-013 四川百利天恒药业股份有限公司 自愿披露关于 iza-bren（EGFR×HER3 双抗 ADC）用于局部 晚期或转移性三阴乳腺癌 III 期临床试验的期中分析 达到主要终点的公告 特此公告。 四川百利天恒药业股份有限公司董事会 2026 年 2 月 24 日 一、药品的基本情况 Iza-bren 是全球首创（First-in-class）、新概念（New concept）且唯一进入 III 期临床阶段的 EGFR×HER3 双抗 ADC，iza-bren 正在中国和美国进行 40 余项针 对多种肿瘤类型的临床试验。 截至目前，iza-bren 已有 7 项适应症被国家药品监督管理局药品审评中心纳入 突破性治疗品种名单，1 项适应症被美国食品药品监督管理局纳入突破性治疗品种 名单。其中 iza-bren 两个适应症——用于治疗局部晚期或转移性鼻咽癌、用于治疗 复发性或转移性食管鳞癌——的上市申请（NDA）已获得国家药品监督管理局药 品审评中心（CDE）受理且被纳入优先审评程序。 二、风险提示 根据我国药品注册相关的法律法规要求，药品需要完成 ...

智通财经APP讯，百利天恒(688506.SH)披露公告，关于iza-bren(EGFR×HER3双抗ADC)用于局部晚期或 转移性三阴乳腺癌III期临床试验的期中分析达到主要终点的事项，该III期临床研究独立数据监查委员会 (iDMC)，在预设的期中分析中，建议："基于现有的分析结果，与监管沟通提前申报，同时继续对受试 者进行随访"。 顶线(topline)数据显示iza-bren显著延长了无进展生存期(PFS)和总生存期(OS)，达到双主要终点。适应症 为：治疗既往经紫杉烷类治疗失败的不可手术切除的局部晚期或转移性三阴乳腺癌。这是该双抗ADC 达到主要终点的第三个III期临床研究，也是全球首个双抗ADC药物在三阴乳腺癌治疗中取得PFS/OS双 阳性结果的III期临床研究(研究方案编号：BL-B01D1-307)。 ...

智通财经APP讯，百利天恒(688506.SH)披露公告，关于iza-bren(EGFR×HER3双抗ADC)用于局部晚期或 转移性三阴乳腺癌III期临床试验的期中分析达到主要终点的事项，该III期临床研究独立数据监查委员会 (iDMC)，在预设的期中分析中，建议："基于现有的分析结果，与监管沟通提前申报，同时继续对受试 者进行随访"。 顶线(topline)数据显示iza-bren显著延长了无进展生存期(PFS)和总生存期(OS)，达到双主要终点。适应症 为：治疗既往经紫杉烷类治疗失败的不可手术切除的局部晚期或转移性三阴乳腺癌。这是该双抗ADC 达到主要终点的第三个III期临床研究，也是全球首个双抗ADC药物在三阴乳腺癌治疗中取得PFS/OS双 阳性结果的III期临床研究(研究方案编号：BL-B01D1-307)。 ...

Core Viewpoint - The Chinese innovative pharmaceutical sector is entering a golden development period, presenting a once-in-a-century investment opportunity due to unmet global medical needs and significant advancements in the industry [4][9]. Group 1: Market Growth and Trends - In 2025, the total value of out-licensing (BD) transactions for Chinese innovative drugs reached $135.7 billion, a significant increase from $51.9 billion in 2024, with upfront payments rising to $7 billion from $4.1 billion [4][9]. - In January 2026 alone, the transaction volume reached $30 billion, with upfront payments of $3 billion, indicating a strong start to the year [4][9]. - The proportion of external procurement pipelines from China for multinational pharmaceutical companies surged from 10% in 2020 to 42% in 2025, highlighting China's growing importance in the global pharmaceutical landscape [4][9]. Group 2: Clinical Milestones and Innovations - 2026 is identified as a critical year for validating major drugs, with several key clinical milestones expected to emerge, potentially leading to a re-evaluation of industry value [5][9]. - Notable clinical trials include Kangfang Biotech's AK112 for non-small cell lung cancer, which is anticipated to redefine first-line treatment standards [5][9]. - The ADC sector is also poised for significant developments, with Kelong Botai's SKB264 and Baili Tianheng's BL-B01D1 expected to release important phase III clinical data [5][9]. Group 3: Impact on Related Industries - The CXO (Contract Research Organization) sector, closely tied to innovative pharmaceuticals, is expected to benefit from the technological advancements in drug development, leading to a recovery in industry sentiment [5][10]. - Companies within the "WuXi" ecosystem, such as WuXi Biologics and WuXi AppTec, are experiencing a resurgence in orders and performance, reaching historical highs despite previous unfavorable U.S. policies [10].

Core Viewpoint - The article discusses the current funding logic in the market, highlighting the significant movements of public funds in the technology sector, particularly in the semiconductor and biopharmaceutical industries, as they adjust their portfolios based on performance and valuation metrics [3][8]. Group 1: Public Fund Movements - Public funds have shown a notable shift in their holdings, particularly in the STAR Market, with the STAR 50 Index rising by 12.1% this year [3][4]. - The total market capitalization of STAR Market companies reached 10.4 trillion yuan, with the technology sector dominating, accounting for 62.1% of the total market cap [5][6]. - The semiconductor industry remains the core focus for fund allocation, with 12 companies in the sector having a market capitalization exceeding 10 billion yuan [9][11]. Group 2: Semiconductor Sector Insights - The market's pricing anchor for the semiconductor sector has shifted from "valuation expansion" to "performance realization," emphasizing the importance of actual earnings [13][14]. - Key drivers for future growth in the semiconductor sector include strong order backlogs, profit growth through acquisitions and expansions, and sustained price increases in advanced processes [13][14]. - Public funds have significantly increased their holdings in semiconductor materials, chip design, and equipment, with companies like ShenGong Co. seeing an 11% increase in fund holdings [15][21]. Group 3: Biopharmaceutical Sector Insights - The biopharmaceutical sector is a critical area for public funds, with major holdings in companies like BeiGene and United Imaging Healthcare, although the sector has faced a reduction in holdings for several key companies [24][26]. - The article notes that innovative drug companies are currently under pressure, with significant reductions in holdings observed in companies like BaiLi TianHeng and RongChang Biopharma [26][28]. - Despite the challenges, companies with strong earnings potential and innovative drug pipelines are still attracting interest from public funds, indicating a selective investment approach [35][40].

Core Viewpoint - The resignation of Chen Yingge, the Secretary of the Board of Baili Tianheng, is attributed to personal reasons, effective immediately upon the announcement, with Zhang Suya temporarily assuming the role until a new secretary is appointed [1][3]. Group 1: Resignation Details - Chen Yingge submitted his resignation and will no longer hold any position within the company [1]. - The company expressed gratitude for Chen's contributions in governance, information disclosure, and investor relations during his tenure [3]. Group 2: Background Information - Chen Yingge, born in 1991, holds a Master's degree in Drug Design from University College London (UCL) and is qualified as a Secretary of the Board for the Sci-Tech Innovation Board of the Shanghai Stock Exchange [3]. - Prior to joining Baili Tianheng in April 2024, Chen held various positions at Junshi Biosciences from April 2017 to April 2024, including Secretary of the Board and authorized representative [3]. - In 2024, Chen's salary at Baili Tianheng was reported to be 1.0475 million yuan [3].