Going Global Weekly: Pharma Licensing and Overseas Registrations Land in Cluster, Manufacturing Capacity Expansion in Southeast Asia Accelerates-20260911

Overseas M&A

1. FOUNTAIN SET (00420.HK): Announced on September 9 that an indirect wholly-owned subsidiary will acquire an 81% equity interest in a textile company in Tay Ninh Province, Vietnam, for a cash consideration of US$27.945 million (approximately HK$219.089 million); the appraised value of the entire equity interest held by the target company's 100% shareholder is approximately RMB240.65 million, and the consideration is payable in three instalments. The acquisition constitutes a major transaction and remains subject to approval by an extraordinary general meeting of shareholders, with the circular expected to be despatched on or before October 31, 2026.

2. FOSUN PHARMA (02196.HK): Announced on September 6 that its controlling subsidiary Fosun Pharma Singapore sold a total of 9.897 million shares (representing 6.00% of the total number of its shares) of India's Gland Pharma on September 4 through block trades and centralised bidding, for a total consideration of INR27.996 billion (approximately US$294 million), at an average price of INR2,828.78 per share, a discount of approximately 2.72% to the closing price of the preceding trading day. Following completion of the transaction, the group's shareholding will decrease from 51.76% to approximately 45.76%, and it will remain the controlling shareholder and continue to consolidate the accounts.

Overseas Cooperation

1. LEE'S PHARM (00950.HK): Announced on September 9 that its wholly-owned subsidiary Lee's Hong Kong entered into an exclusive licence agreement with the United States' 1cBio, acquiring the rights to develop, manufacture and commercialise OC-3, a preclinical next-generation selective PARP1 inhibitor, in Mainland China, Hong Kong, Macao and Taiwan and Southeast Asia, and will be responsible for GLP safety studies and manufacturing activities.

2. ANJOY FOOD (02648.HK): Announced on September 9 that its wholly-owned Hong Kong subsidiary Hong Kong Anjoy Foods plans to jointly establish a holding company in Hong Kong with Mutual Strategy Limited at shareholding ratios of 50.5% and 49.5% respectively, and through it invest in and establish a production and trading subsidiary in Indonesia; the parties have committed to cash contributions totalling not less than US$74.25 million, of which Hong Kong Anjoy will contribute US$37.49625 million from its own funds, and the holding company will hold 99% equity in each of the two Indonesian subsidiaries.

3. ANTON OILFIELD (03337.HK): Announced on September 6 that it obtained approval from the Iraqi Ministry of Oil and signed a long-term cooperation agreement with Iraq's State Oil Marketing Organization (SOMO), securing crude oil sales qualification and the right to lift crude oil from Iraqi National Oil Company's own-operated oilfields, becoming Iraq's designated partner for crude oil export sales.

4. BOC AVIATION (02588.HK): Announced on September 10 that on September 9 it entered into an agreement with Airbus to purchase 12 Airbus A320NEO aircraft and entered into a long-term lease with Colombian airline Avianca for such aircraft, with all aircraft scheduled for delivery in 2029. The transaction constitutes a discloseable transaction under Chapter 14 of the Listing Rules and is exempt from the announcement, circular and shareholders' approval requirements as it is a qualified aircraft leasing activity.

Overseas Projects and Operations

1. ASCLETIS-B (01672.HK): Announced on September 8 that, after obtaining FDA IND approval, it has initiated a Phase I study in the United States of ASC36 oral tablets (an oral amylin receptor agonist peptide) for the treatment of obesity, its fourth peptide Phase I study this year; in non-human primate studies, the oral tablet administered once daily for 7 days achieved an average body weight reduction of 13.2%.

2. CLOVER BIO-B (02197.HK): Announced on September 7 that its respiratory combination vaccines SCB-1022 (RSV+hMPV) and SCB-1033 (RSV+hMPV+PIV3) achieved positive data in a Phase II trial in the elderly population in Australia.

Regulation and Compliance

1. STAR SPORTS MED (01609.HK): Announced on September 10 that the company's product portfolio covering 15 product lines obtained EU CE MDR certification, making it China's first sports medicine manufacturer to obtain full-portfolio certification; it also obtained product registration certificates in the United Kingdom, Australia, Brazil, Singapore, Malaysia and Thailand.

2. DEEP SOURCE (00990.HK): Announced on September 7 that its artificial intelligence data centre (AIDC) project obtained approval from Malaysia's Ministry of Investment, Trade and Industry (MITI), and the water and electricity ancillary conditions attached to the approval are being implemented.

NewTimeSpace Going Global Observation

The main lines of going global this week comprise the concentrated landing of licensing and overseas registrations in the pharmaceutical sector and the capacity M&A and joint-venture layout of manufacturing in Southeast Asia. The former covers exclusive licences for innovative drugs, EU CE MDR full-portfolio certification and the advancement of overseas clinical trials, with Hong Kong-listed Chapter 18A and established pharmaceutical companies as the main players; the latter is concentrated in Vietnam and Indonesia, landing through equity acquisitions of textile and frozen food capacity and joint-venture plant establishment. Unlike the earlier pace concentrated on overseas financing, this week's transactions leaned more towards the execution of existing capacity and mature markets, while asset-operation entities such as oilfield services and aircraft leasing began to obtain sales or operating qualifications in their host countries, extending the going-global path from product export to localised operations.

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