External broker reports(aggregated public sources), CMB International

CMB International

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.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>In 1H25, Akeso reported product sales of RMB1.4bn (+49% YoY), achieving 43% of our prior full-year estimate, largely in line with our expectations.</li><li>The NRDL inclusions of 2L+ cervical cancer for AK104 and 2L+ EGFRm NSCLC for AK112 have contributed to the sales growth.</li><li>Looking ahead to 2026, we anticipate additional NRDL inclusions for AK104 in 1L gastric cancer and 1L cervical cancer, and for AK112 in 1L PD-L1+ NSCLC, which should further accelerate product sales growth. </li></ul><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>

In 1H25, Akeso reported product sales of RMB1.4bn (+49% YoY), achieving 43% of our prior full-year estimate, largely in line with our expectations.The NRDL inclusions of 2L+ cervical cancer for AK104 and 2L+ EGFRm NSCLC for AK112 have contributed to the sales growth.Looking ahead to 2026, we anticipate additional NRDL inclusions for AK104 in 1L gastric cancer and 1L cervical cancer, and for AK112 in 1L PD-L1+ NSCLC, which should further accelerate product sales growth. 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.

Akeso (9926 HK) - Key Data Readouts for AK112 to Validate Global Potential

Akeso Biopharma Inc

Akeso (9926 HK) - Key Data Readouts for AK112 to Validate Global Potential