Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hansoh-pharmaceutical-group-co" target="_blank" data-smartkarma-citation="entities:23675:1" rel="noopener">Hansoh Pharmaceutical Group (3692 HK)</a> granted Roche an exclusive worldwide license to (excluding the Chinese Mainland, Hong Kong, Macau and Taiwan) to develop, manufacture and commercialize HS-20110.</li>
<li>HS-20110 is an investigational CDH17-targeting ADC currently being developed for the treatment of colorectal cancer (CRC) and other tumors, with global Phase I trial underway in China and the US.</li>
<li>CDH17 targeted ADCs development (about 31 drug development projects ongoing) scene obviously seems crowded, but Hansoh’s strong execution with Roche’s global prowess will surely give it an edge.</li>
</ul>



Hansoh Pharmaceutical Group (3692 HK) granted Roche an exclusive worldwide license to (excluding the Chinese Mainland, Hong Kong, Macau and Taiwan) to develop, manufacture and commercialize HS-20110.
HS-20110 is an investigational CDH17-targeting ADC currently being developed for the treatment of colorectal cancer (CRC) and other tumors, with global Phase I trial underway in China and the US.
CDH17 targeted ADCs development (about 31 drug development projects ongoing) scene obviously seems crowded, but Hansoh’s strong execution with Roche’s global prowess will surely give it an edge.


Hansoh Pharmaceutical (3692 HK): New Licensing Agreement Asserts R&D Prowess and Pipeline Strength

Equity Capital Markets

Fujian Haixi Pharmaceuticals / Equity Capital Markets

<ul>
<li>Fujian Haixi Pharmaceuticals has filed for HK IPO to raise up to HK$994M. The company plans to sell 11.5M H shares at HK$ 86.40 per share.</li>
<li>The company intends to use IPO proceeds for R&amp;D to advance the clinical pipeline, mainly innovative drug candidates, and enhancing commercialization capabilities and expanding market presence.</li>
<li>Haixi Pharma has 15 NMPA-approved generic drugs, out of which 13 products have been commercialized.  Five generic drug candidates are expected to be approved for marketing by 2025 or 2026.</li>
</ul>


Fujian Haixi Pharmaceuticals has filed for HK IPO to raise up to HK$994M. The company plans to sell 11.5M H shares at HK$ 86.40 per share.
The company intends to use IPO proceeds for R&amp;D to advance the clinical pipeline, mainly innovative drug candidates, and enhancing commercialization capabilities and expanding market presence.
Haixi Pharma has 15 NMPA-approved generic drugs, out of which 13 products have been commercialized.  Five generic drug candidates are expected to be approved for marketing by 2025 or 2026.


Fujian Haixi Pharmaceuticals IPO: Expanding Portfolio Augurs Well for Sustainable Growth

<ul>
<li>
<a href="https://www.smartkarma.com/entities/remegen-co-ltd" target="_blank" data-smartkarma-citation="entities:29191:1" rel="noopener">Remegen (9995 HK)</a> recorded revenue of RMB 1.1B, a 48% rise YoY, driven by robust sales growth of telitacicept (treatment of autoimmune diseases) and disitamab vedotin (treatment of solid tumors).</li>
<li>Remegen entered into a license agreement with Vor Biopharma (telitacicept global rights) and Santen (RC28-E rights in China and other few countries). Upfront payments to reflect in revenues in 2H25.  </li>
<li>Vor Biopharma is conducting a global multi-center Phase III clinical trial (first patient enrolled in August 2024, in U.S) of telitacicept for the treatment of patients with myasthenia gravis (gMG).</li>
</ul>



Remegen (9995 HK) recorded revenue of RMB 1.1B, a 48% rise YoY, driven by robust sales growth of telitacicept (treatment of autoimmune diseases) and disitamab vedotin (treatment of solid tumors).
Remegen entered into a license agreement with Vor Biopharma (telitacicept global rights) and Santen (RC28-E rights in China and other few countries). Upfront payments to reflect in revenues in 2H25.  
Vor Biopharma is conducting a global multi-center Phase III clinical trial (first patient enrolled in August 2024, in U.S) of telitacicept for the treatment of patients with myasthenia gravis (gMG).


Remegen (9995 HK): 2H25 Upfront Boost; Indication Expansion Positive; Overseas Trial Results Awaited

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Sep 19th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Pop Mart Intl, CSPC Pharma, Hua Hong Semiconductor.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Sep 19th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Pop Mart Intl, CSPC Pharma, Hua Hong Semiconductor.


HK Short Interest Weekly: Pop Mart Intl, CSPC Pharma, Hua Hong Semiconductor

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Sep 12th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Alibaba, China Pacific Insurance, Tencent, Bidu, Akeso, Shandong Gold Mining.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Sep 12th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Alibaba, China Pacific Insurance, Tencent, Bidu, Akeso, Shandong Gold Mining.


HK Short Interest Weekly: Alibaba, China Pacific Insurance, Tencent, Bidu, Akeso

China

Sichuan Kelun-Biotech Biopharmaceutical is a biopharmaceutical company focused on the research, development, manufacturing, and commercialization of innovative biological and small molecule drugs, particularly Antibody-Drug Conjugates (ADCs). It addresses unmet medical needs in oncology, autoimmune disorders, and metabolic diseases, with key products including sacituzumab tirumotecan and trastuzumab botidotin. The company is headquartered in Chengdu, Sichuan, China, and was founded in 2016.

Sichuan Kelun-Biotech Biopharmaceutical (6990 HK)

Price Gauge
52-week Range	0.00 - 0.00
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Sichuan Kelun-Biotech Biopharmaceutical (6990 HK)

Hansoh Pharmaceutical (3692 HK): New Licensing Agreement Asserts R&D Prowess and Pipeline Strength

Hansoh granted Roche exclusive license for CDH17-targeting ADC HS-20110. CDH17 targeted drug development scene is crowded. Hansoh’s strong...

Tina Banerjee

Fujian Haixi Pharmaceuticals IPO: Expanding Portfolio Augurs Well for Sustainable Growth

Haixi Pharmaceuticals is offering 11.5M H shares at HK$86.40 per share for its HK IPO to raise up to HK$994M. IPO proceeds will fund R&D of...

Tina Banerjee

Remegen (9995 HK): 2H25 Upfront Boost; Indication Expansion Positive; Overseas Trial Results Awaited

Remegen (9995 HK) posted 48% revenue growth driven by sales of telitacicept and disitamab vedotin. License agreements augur well. Overseas trial...

Tina Banerjee

HK Short Interest Weekly: Pop Mart Intl, CSPC Pharma, Hua Hong Semiconductor

We analyzed the latest HK SFC report for aggregate short position as of Sep 19th and highlight short interest changes in Pop Mart Intl, CSPC...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Alibaba, China Pacific Insurance, Tencent, Bidu, Akeso

We analyzed the latest HK SFC report for aggregate short position as of Sep 12th and highlight short interest changes in Alibaba, China Pacific...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hansoh Pharmaceutical (3692 HK): New Licensing Agreement Asserts R&D Prowess and Pipeline Strength

​Hansoh granted Roche exclusive license for CDH17-targeting ADC HS-20110. CDH17 targeted drug development scene is crowded. Hansoh’s strong...

Tina Banerjee

Fujian Haixi Pharmaceuticals IPO: Expanding Portfolio Augurs Well for Sustainable Growth

Haixi Pharmaceuticals is offering 11.5M H shares at HK$86.40 per share for its HK IPO to raise up to HK$994M. IPO proceeds will fund R&D of...

Tina Banerjee

Remegen (9995 HK): 2H25 Upfront Boost; Indication Expansion Positive; Overseas Trial Results Awaited

​Remegen (9995 HK) posted 48% revenue growth driven by sales of telitacicept and disitamab vedotin. License agreements augur well. Overseas trial...

Tina Banerjee

HK Short Interest Weekly: Pop Mart Intl, CSPC Pharma, Hua Hong Semiconductor

We analyzed the latest HK SFC report for aggregate short position as of Sep 19th and highlight short interest changes in Pop Mart Intl, CSPC...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Alibaba, China Pacific Insurance, Tencent, Bidu, Akeso

We analyzed the latest HK SFC report for aggregate short position as of Sep 12th and highlight short interest changes in Alibaba, China Pacific...

Ke Yan, CFA, FRM

Hansoh granted Roche exclusive license for CDH17-targeting ADC HS-20110. CDH17 targeted drug development scene is crowded. Hansoh’s strong...

Remegen (9995 HK) posted 48% revenue growth driven by sales of telitacicept and disitamab vedotin. License agreements augur well. Overseas trial...