Group 1 - The company announced the resignation of its board secretary, Chen Yingge, due to personal reasons, effective immediately upon delivery of the resignation letter to the board [2] - The company will promptly initiate the process of appointing a new board secretary in accordance with relevant regulations and guidelines [2] - During the interim period before a new board secretary is appointed, Zhang Suya, a company director and senior management personnel, will assume the responsibilities of the board secretary [2] Group 2 - Chen Yingge did not hold any shares in the company at the time of her resignation and has fulfilled all responsibilities related to her position [2] - The board expressed gratitude for Chen Yingge's contributions to the company during her tenure, particularly in governance, information disclosure, and investor relations [2]

Group 1 - The company announced the resignation of its board secretary, Chen Yingge, due to personal reasons, effective immediately upon delivery of the resignation letter to the board [2] - The company will appoint a new board secretary in accordance with relevant regulations and guidelines, while Zhang Suya, a current board member and senior management personnel, will temporarily assume the responsibilities of the board secretary [2] - Chen Yingge did not hold any shares in the company at the time of her resignation and has completed the necessary handover of her responsibilities, ensuring no adverse impact on the company's normal operations [2]

Core Viewpoint - Baili Tianheng announced the resignation of its board secretary, Chen Yingge, due to personal reasons, and she will not hold any position in the company after her departure [1] Group 1 - The company’s board received the resignation letter from Chen Yingge [1] - Chen Yingge applied to resign from her position as board secretary [1] - After her resignation, she will no longer hold any role within the company [1]

Core Viewpoint - Chengdu-based innovative pharmaceutical leader Baillie Tianheng (688506.SH) is continuing its efforts to list H-shares in Hong Kong, as indicated by the recent decision to extend the validity period of the relevant resolutions [1][5] Group 1: Company Developments - On February 10, 2026, Baillie Tianheng's first extraordinary general meeting approved the extension of the resolution's validity period for issuing H-shares and listing [1] - The company previously announced on November 12, 2025, that it would delay its global offering and would not proceed according to the prospectus, postponing its planned listing on November 17, 2025 [1][5] - The delay in the global offering does not impact the company's current business operations, and the company is carefully evaluating the timeline for the global offering and listing [5] Group 2: Historical Context - Baillie Tianheng submitted its H-share listing application to the Hong Kong Stock Exchange on July 10, 2024, and subsequently resubmitted the application on January 21, 2025, and September 29, 2025 [5] - The company published its H-share hearing materials on October 22, 2025, to provide relevant information to the Hong Kong public and qualified investors [5] - As of October 2025, Baillie Tianheng's actual controller and chairman, Zhu Yi, was reported to have a net worth of 115 billion yuan, marking a significant rise of 44 positions compared to 2024 [5]

证券代码：688506 证券简称：百利天恒 公告编号：2026-012 四川百利天恒药业股份有限公司 关于董事会秘书离任暨由董事、高级管理人员代行董 事会秘书职责的公告 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、准确性和完整性承担法律责任。 重要内容提示： 四川百利天恒药业股份有限公司（以下简称"公司"）董事会于近日收到董 事会秘书陈英格女士递交的辞呈，因个人原因，陈英格女士申请辞去公司董事会 秘书职务，离任后不再担任公司任何职务。具体情况如下： | 姓名 | 离任 | | | 原定任期 | | 离任 | 是否继续在 上市公司及 | 具体职 | 是否存 在未履 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 职务 | 离任时间 | | 到期日 | | 原因 | 其控股子公 | 务（如适 | 行完毕 | | | | | | | | | 司任职 | 用） | 的公开 | | | | | | | | | | | 承诺 | | | 董事 | 2026 年 2 | 月 | ...

Core Viewpoint - The keyword for the stock market in 2025 is expected to be "innovative drugs," with significant stock price increases driven by the potential of in-development innovative drugs and BD (business development) transactions rather than traditional revenue from already marketed drugs [1] Group 1: BD Transactions - In 2025, China's innovative drug BD transaction total exceeded $100 billion, with notable orders reaching $10 billion, and upfront payments from multinational pharmaceutical companies reaching a new high of $1.25 billion [1] - Landmark transactions include a $13 billion collaboration between Qihuang Dejian and Biohaven/AimedBio in January, marking a milestone for China's ADC technology [2] - In May, 3SBio's deal with Pfizer exceeded $6 billion, setting a record for upfront payments in China at $1.25 billion, highlighting the value of both first-in-class and fast-follow drugs [2] - In July, a $12 billion strategic partnership between Hengrui Medicine and GlaxoSmithKline showcased the depth of early-stage pipelines in leading Chinese pharmaceutical companies [2] - In October, Innovent Biologics and Takeda's collaboration worth $11.4 billion included a cost-sharing model for global R&D, enhancing operational capabilities for future international ventures [2] Group 2: Milestone Payments and Emerging Fields - Several past BD transactions reached milestone payments in 2025, including a $300 million payment to China National Pharmaceutical's subsidiary from Merck and a $250 million payment to Bairui Tianheng from Bristol-Myers Squibb [3] - The focus of BD transactions is shifting from oncology to other therapeutic areas, with autoimmune diseases, metabolism, and central nervous system disorders emerging as new hot fields [3] - Notable deals include the global rights licensing of BTK inhibitor Orelabrutinib for multiple sclerosis by Nocera Biopharma, with a potential total transaction value exceeding $2 billion [3] - The metabolic field is gaining traction, driven by global weight loss trends, with several companies entering into licensing agreements for GLP-1 targeted drugs [3] Group 3: Independent Clinical Trials and Regulatory Approvals - Numerous innovative drug companies in China are advancing their own overseas clinical trials, achieving significant progress [4] - In early 2025, Dize Pharmaceutical's lung cancer targeted drug received priority review from the FDA and was approved in July, becoming the first globally innovative drug independently developed in China to gain approval in the U.S. [4] - Other advancements include breakthrough therapy designations for CS0159 by Kexi Kedi and a Phase III trial approval for a recombinant human albumin injection by Heyuan Biopharma [4] - These developments indicate that the Chinese innovative drug industry is becoming a significant force in global innovation, transitioning from fast-following to original innovation and integrating deeply into the global value chain [4]

Core Viewpoint - The A-share market is experiencing a strong upward trend, particularly in the innovative drug sector, with significant gains in the ChiNext Innovative Drug ETF [1][3]. Group 1: Market Performance - As of 11:08 on February 10, the ChiNext Innovative Drug ETF (589120) surged by 2%, marking a potential two-day consecutive rise [1]. - Major component stocks of the ETF, such as Rongchang Biopharma and Baili Tianheng, saw increases exceeding 5%, while others like Baijie Shenzhou rose over 4% [3]. Group 2: Key Component Stocks - The top ten component stocks of the ChiNext Innovative Drug ETF include: - J-Z**KD with a 4.04% increase and an estimated weight of 10.43% - Baili Tianheng with a 5.10% increase and an estimated weight of 7.89% - Rongchang Biopharma with a 5.51% increase and an estimated weight of 6.35% [4]. Group 3: Industry Developments - Innovent Biologics announced the approval of its ICP-538, a VAV1 molecular glue degrader, for clinical research, marking it as the first of its kind in China and the second globally [4]. - Baili Tianheng's recent shareholder meeting approved significant resolutions, including the issuance of debt financing tools and extending the validity of H-share issuance [5]. Group 4: Strategic Collaborations - Innovent Biologics entered a strategic partnership with Eli Lilly to advance the global development of innovative drugs in oncology and immunology, receiving an upfront payment of $350 million and potential milestone payments totaling up to $8.5 billion [5]. Group 5: Industry Growth and Trends - The Chinese innovative drug sector is transitioning from "pipeline expectations" to "performance realization," with over 70% of companies projected to achieve revenue growth by 2025 [8]. - The total value of License-out transactions for Chinese innovative drugs skyrocketed from $2.562 billion in 2017 to an estimated $140.274 billion by 2025, indicating a significant increase in global recognition [6]. Group 6: Investment Opportunities - Three key investment themes for 2026 in the innovative drug sector include: 1. Accelerated BD (Business Development) overseas, focusing on ADC, dual antibodies, and GLP-1RA [9]. 2. Policy support for innovative drug development, enhancing commercialization opportunities [9]. 3. Monitoring critical clinical data and commercialization milestones for new drugs [10].

Group 1 - The core point of the news is that Baili Tianheng's stock price increased by 5.03% to 284.99 CNY per share, with a trading volume of 341 million CNY and a turnover rate of 0.31%, resulting in a total market capitalization of 117.665 billion CNY [1] - Baili Tianheng Pharmaceutical Co., Ltd. is located in Chengdu, Sichuan Province, and was established on August 17, 2006, with its listing date on January 6, 2023. The company's main business involves the research, production, and sales of pharmaceuticals [1] - The revenue composition of Baili Tianheng is primarily from the recognition of 99.57% at a specific point in time and 0.43% over a specific period [1] Group 2 - From the perspective of major fund holdings, one fund under Su Xin has a significant position in Baili Tianheng. The Su Xin SSE Sci-Tech Innovation Index Enhanced A Fund (023937) increased its holdings by 2,000 shares in the fourth quarter, bringing the total to 6,800 shares, which represents 1.58% of the fund's net value, ranking it as the seventh-largest holding [2] - The Su Xin SSE Sci-Tech Innovation Index Enhanced A Fund has a current scale of 81.1693 million CNY and has achieved a return of 8.82% this year, ranking 1341 out of 5569 in its category, with a cumulative return of 47.06% since inception [2] Group 3 - The fund manager of the Su Xin SSE Sci-Tech Innovation Index Enhanced A Fund is Lin Maozheng, who has been in the position for 1 year and 43 days. The total asset size of the fund is 927 million CNY, with the best return during his tenure being 49.69% and the worst being 4.6% [3]

北京君合（成都）律师事务所 关于四川百利天恒药业股份有限公司 2026 年第一次临时股东会的法律意见书 致：四川百利天恒药业股份有限公司 北京君合（成都）律师事务所（以下简称"本所"）受四川百利天恒药业 股份有限公司（以下简称"贵公司"）的委托，根据《中华人民共和国公司法》 （以下简称《公司法》）、《上市公司股东会规则》（以下简称《股东会规 则》）等中国现行有效的有关法律、行政法规、部门规章、规范性文件（以下 合称"法律法规"，仅为本法律意见书法律适用之目的，不包括中国香港特别 行政区、中国澳门特别行政区及中国台湾省的法律法规）及《四川百利天恒药 业股份有限公司章程》（以下简称《公司章程》）的有关规定，就贵公司 2026 年第一次临时股东会（以下简称"本次股东会"）有关事宜出具本法律意见书。 本法律意见书仅就本次股东会的召集和召开程序是否符合法律、行政法规、 《股东会规则》和《公司章程》的规定，以及出席本次股东会人员的资格、本 次股东会召集人资格、本次股东会的表决程序和表决结果是否合法有效发表法 律意见，并不对本次股东会所审议的议案内容以及该等议案所表述的相关事实 或数据的真实性、准确性、完整性或合法性发表意 ...

证券代码：688506 证券简称：百利天恒 公告编号：2026-011 四川百利天恒药业股份有限公司 2026年第一次临时股东会决议公告 本公司董事会及全体董事保证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。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 119 | | --- | --- | | 普通股股东人数 | 119 | | 2、出席会议的股东所持有的表决权数量 | 320,382,698 | | 普通股股东所持有表决权数量 | 320,382,698 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比例 | 77.6652 | | （%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 77. 6652 | 注：截至本次股东大会股权登记日的总股本为 412,873,817 股，有表决权股份数量（剔除公 司回购专用账户股份数量 356,268 ...