External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Equity Bottom-Up

<div><div><div><div><ul><li>InnoCare recorded total revenue of RMB246.0mn in 1H22, including RMB217.0mn sales from orelabrutinib (+115% YoY).</li><li>The total net loss was RMB445.8mn (vs RMB213.1mn net loss in 1H21), which was affected by RMB160.0mn foreign exchange loss in 1H22.</li><li>The gross profit margin of orelabrutinib sales was 82.8% in 1H22, compared to 90.3% in 1H21 and 89.0% in FY21, with the GMP decrease mainly due to the price cut for NRDL inclusion.</li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

InnoCare recorded total revenue of RMB246.0mn in 1H22, including RMB217.0mn sales from orelabrutinib (+115% YoY).The total net loss was RMB445.8mn (vs RMB213.1mn net loss in 1H21), which was affected by RMB160.0mn foreign exchange loss in 1H22.The gross profit margin of orelabrutinib sales was 82.8% in 1H22, compared to 90.3% in 1H21 and 89.0% in FY21, with the GMP decrease mainly due to the price cut for NRDL inclusion.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

InnoCare Pharma (9969 HK) – Strong Sales of Orelabrutinib in 1H22

China

InnoCare Pharma is a commercial-stage biopharmaceutical company dedicated to discovering, developing, and commercializing drugs for cancer and autoimmune diseases. Its pipeline includes key products like orelabrutinib, tafasitamab, and ICP-332. The company was co-founded in 2015 and is headquartered in Beijing, China.

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