Zhitong Hong Kong stocks have long been known | Hengrui Pharmaceutical (01276) received 455 times more subscriptions in public sale Lei Jun: Xiaomi's R&D investment is expected to reach 200 billion yuan in the next five years

[Today's headlines]

Hengrui Pharmaceutical (01276) was publicly sold at a limited price and was subscribed 455 times

According to the Zhitong Finance App, Hengrui Pharmaceutical (01276) announced the allotment results. The company sold about 224.5 million shares globally, the Hong Kong public sale accounted for 21.50%, and the international sale accounted for 78.50%. The sale price per share was HK$44.050, with a net raise of approximately HK$9.747.3 billion from the global offering. Each lot is 200 shares. H shares are expected to start trading on the Stock Exchange at 9:00 a.m. on May 23, 2025 (Friday), Hong Kong time.

Hengrui Pharmaceuticals' Hong Kong IPO public sale portion was subscribed about 455 times. Hengrui Pharmaceutical opened high in the dark yesterday, closing up 32.24% to HK$58.25, with a turnover of HK$751 million.

[General outlook]

The Nasdaq China Golden Dragon Index fell 1.18%

Overnight, the US stock Dow Jones Industrial Average fell 1.35 points from the previous trading day, close to zero; the S&P 500 stock index fell 2.60 points to close at 5842.01 points, or 0.04%; and the Nasdaq Composite Index rose 53.09 points to close at 18925.73 points, or 0.28%. Most of the big tech stocks rose; Tesla rose nearly 2%, Google rose more than 1%, and Microsoft, Nvidia, Amazon, and Meta rose less than 1%.

Most popular Chinese securities closed down, and the Nasdaq China Golden Dragon Index fell 1.18%. Xiaopeng Motors fell more than 7%, and Century Internet fell more than 6%. The Hang Seng Index ADR declined. On a proportional basis, it closed at 23492.08 points, down 52.23 points or 0.22% from the Hong Kong closing.

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OPEC+ discusses another sharp increase in production in July The June 1 meeting will set the tone for supply strategies

Zhitong Finance App learned that according to OPEC+ insiders, the organization is discussing implementing a plan to increase production by 411,000 barrels per day for the third consecutive month in July. This figure is three times the production increase planned at the beginning of the year. They stressed that the final decision needs to be approved by the ministerial video conference on June 1, and the current plan is still under discussion. It is worth noting that if this plan to increase production is implemented, it will mark the third consecutive month since May that OPEC+ has maintained supply expansion on the same scale.

New US bill prohibits AI regulation within 10 years

According to TechPolicy, the US House of Representatives passed the “HR1” bill, which will ban US states from regulating AI within the next 10 years. During the prohibition period, no state or its political branch may enforce any laws or regulations governing AI models, AI systems, or automated decision-making systems.

Lei Jun: In the next five years, Xiaomi's R&D investment is expected to reach 200 billion yuan

Lei Jun, Chairman and CEO of the Xiaomi Group, delivered a speech at Xiaomi's 15th anniversary strategic product launch. Lei Jun said that this year is the 15th anniversary of Xiaomi, and Xiaomi's mobile phone market share has been in the top three in the world for 19 consecutive quarters; Xiaomi cars, chips, and smart factories have completed the leap from 0 to 1; the entire ecological strategy of people and cars has officially closed the loop, becoming the technology company with the most complete ecosystem. He said that over the past 15 years, no matter the peaks and troughs, regardless of good times or adversity, technology-based and continuous progress, this is the path of Xiaomi's growth. Over the next five years, Xiaomi is expected to invest 200 billion yuan in R&D.

Reading (00772) and the Swiss National Tourist Board officially announced that the summer cooperation program “Full-time Master” IP has landed in Switzerland

Reading Group and the Swiss National Tourist Office officially announced the 2025 summer cooperation plan. The Swiss National Tourist Office officially invited Ye Xiu, the main character in Reading Wen's IP “Full Time Master”, as a “Swiss Travel Explorer”. The two sides will launch a month-long travel-themed check-in campaign in Switzerland during the summer of 2025 to provide Chinese tourists with an immersive themed travel experience. According to reports, this is the first time that the Swiss National Tourist Office has cooperated in depth with a Chinese online literature IP.

Xinhua Pharmaceutical (00719): Obtained the registration certificate for ibuprofen suspension drops

Xinhua Pharmaceutical announced that it recently received the “Drug Registration Certificate” for ibuprofen suspension drops approved and issued by the State Drug Administration. This product is used for fever caused by the common cold or influenza in children, and is also used to relieve mild to moderate pain in children. According to relevant statistics, the sales volume of ibuprofen in Chinese public medical institutions in 2023 was approximately RMB 5.09 billion. Xinhua Pharmaceuticals' ibuprofen suspension drops obtained a drug registration certificate in May 2025, enriching the company's ibuprofen formulation, which is conducive to strengthening supporting production advantages and enhancing the company's overall competitiveness.

Shanghai Industrial Holdings (00363) plans to sell 475 million shares of Yuefeng shares at a premium of about 0.4%

Zhitong Finance App News, Shanghai Industrial Holdings (00363) issued an announcement. On the date of this announcement, the company (through Hongyang, an indirect wholly-owned subsidiary of the company) held 475 million shares of Yuefeng shares, accounting for approximately 19.47% of Yuefeng's total issued share capital. Since the plan was approved by the Supreme Court of the Cayman Islands on May 20, 2025 (Cayman Islands time), all Yuefeng shares (including sale shares owned by the Group) will be cancelled under the plan after the effective date in exchange for the cancellation price. The total cost of the sale was HK$2,329 million. The cancellation price for each sale share is HK$4.90, which is approximately 0.4% premium over the closing price of HK$4.88 per share reported on the Stock Exchange on May 20, 2025.

Yiming Angko-B (01541): Clinical trial update of IMM2510/AXN-2510 combined chemotherapy for first-line NSCLC

Zhitong Finance App News, Yiming Onko-B (01541) issued an announcement. The company, together with Instil Bio, Inc., is pleased to announce that the company expects to launch a phase 3 trial of IMM2510/AXN-2510 combined chemotherapy in China in mid-2026, which has yet to be discussed with the regulatory authorities. Preclinical experiments have shown that IMM2510/AXN-2510 can co-bind with PD-L1 when VEGF is present in vitro. Further preclinical data sets showing unique and probably best-in-class mechanisms of action for IMM2510/AXN-2510 are expected to be presented at future medical or scientific conferences.

Livestock Pharmaceuticals (01513) plans to spend about 1,587 billion yuan to acquire 64.81% of a Vietnamese pharmaceutical company

Zhitong Finance App News, Lizhu Pharmaceutical (01513) announced that on May 22, 2025, the company is an indirect wholly-owned subsidiary of LIAN SGP HOLDING PTE. LTD. It is proposed to acquire 64.81% of Imexpharm Corporation's issued shares from SK Investment, Sunrise and KBA at a total cash cost of 5,730,815,426,000 VND (approximately RMB 1,587 billion and HK$1,728 billion based on the exchange rate on the day the agreement was signed). After delivery, the target company will become an indirect non-wholly-owned subsidiary of the Company, and its financial results will be incorporated into the Group's financial statements.

Goli Pharmaceutical-B (01672): A new clinical trial application for oral small molecule interleukin-17 inhibitor ASC50 to treat psoriasis was approved by the US FDA

Zhitong Finance App News, Goli Pharmaceutical-B (01672) announced that its Phase I New Drug Clinical Trial Application (IND) for treating mild to moderate plaque psoriasis has recently been approved by the US Food and Drug Administration (FDA). ASC50 ASC50 is an oral small-molecule interleukin-17 (IL-17) targeting inhibitor independently developed by Geli. The target has been fully biologically proven and has mature commercial value in various autoimmune and inflammatory diseases such as psoriasis.

Gacos-B (01167): KRAS G12C inhibitor Arica® approved for marketing

Zhitong Finance App News, Gacos-B (01167) issued an announcement. According to information on the official website of the State Drug Administration, the KRAS G12C inhibitor Arike® (generic name: Golerese) independently developed by the company was officially approved for marketing. The indication is non-small cell lung cancer with a KRAS G12C mutation that has experienced at least one systematic treatment. This approval triggers milestone payment terms, and Gacos will receive a milestone payment of 50 million yuan from partner Shanghai Alice Pharmaceutical Technology Co., Ltd. (688578.SH).

Xinhua Insurance (01336) invested 10 billion yuan to subscribe to Guofeng Xinghua Honghu Zhiyuan Phase II Private Equity Investment Fund

Zhitong Finance App News, Xinhua Insurance (01336) announced that on May 22, 2025, the company signed the “Guofeng Xinghua Honghu Zhiyuan Phase II Private Equity Investment Fund Fund Contract” with fund manager Guofeng Xinghua and fund custodian Guangfa Bank Beijing Branch. According to the fund contract, Guofeng Xinghua will initiate the establishment of the Guofeng Xinghua Honghu Zhiyuan Private Equity Investment Fund (tentative name, based on the registration and filing of the China Securities Investment Fund Industry Association). The scale of establishment of the fund is RMB 20 billion, and the company will invest RMB 10 billion to subscribe for private equity fund shares.

BOSS Direct Hiring -W (02076) announced first-quarter results: net profit attributable to common shareholders of 518 million yuan increased 111.53% year-on-year

According to Zhitong Finance App News, BOSS Direct Hire -W (02076) released unaudited financial results for the first quarter ended March 31, 2025, with total revenue of 1,923 billion yuan (RMB, same below), an increase of 12.88% year on year; net profit attributable to the common shareholders of Guanzhun Technology Co., Ltd. was 518 million yuan, an increase of 111.53% year on year; basic net profit per common share was 0.59 yuan.

[Individual stock prices are clear]

GAC Group (02238): Plans to achieve mass production of self-developed parts for intelligent robots in 2025

The GAC Group said on an interactive platform that the company's third-generation intelligent humanoid robot GoMate was released at the end of 2024, which can achieve precise motion control, accurate navigation and positioning, and flexible autonomous decision-making, and has strong anti-interference, stability and reliability. With the rapid development of the robotics and artificial intelligence industry, GoMate has broad application potential in security, health, automotive aftermarket, logistics, education, etc. The company plans to achieve mass production of self-developed parts for intelligent robots in 2025 to meet growing market demand; to achieve small-batch production of complete machines in 2026, and gradually expand to large-scale mass production.

The GAC Group said on an interactive platform that the flying car brand currently being incubated by the Group has launched two flying cars, GOVY AirCar and GOVY AirJet. For demand for short-distance leap-over travel within 20 km, the multi-rotor flying vehicle GOVY AirCar will solve the problem of traffic congestion within the city. In response to short- and medium-distance travel needs within 200km, the GOVY AirJet, a multi-wing flying vehicle, can enhance rapid movement between transportation hubs and cities, and significantly improve intercity traffic efficiency. Currently, multi-rotor GOVY AirCar has initiated airworthiness certification.