Going Global Weekly Report: Pharma Overseas Expansion Blossoms Across Fronts, A-Share Companies Accelerate Hong Kong Listings - 20260821

Overseas Cooperation

1. HENLIUS (02696.HK) disclosed on August 17 that it entered into a cooperation framework agreement with Sandoz AG of Switzerland, covering full-chain collaboration on up to 10 biosimilars of monoclonal antibodies and antibody-drug conjugates across the global market excluding Mainland China, Hong Kong, Macao and Taiwan—spanning CMC development, clinical development, regulatory filings through to manufacturing, launch, commercialization and lifecycle management. The first batch of cooperation products comprises cetuximab biosimilar HLX05-N, evolocumab HLX16 and belimumab biosimilar. Sandoz will pay upfront payments aggregating no more than USD 77 million, development milestones and development budget milestones aggregating no more than USD 160 million, and sales milestones aggregating no more than USD 77 million, with milestones plus upfront payments totaling up to USD 314 million; additionally, Sandoz will pay a 40% share of net sales or net profit in the cooperation territories, and a non-refundable option fee of USD 8 million for hyaluronidase HLXTE-HAase1001. Billable amounts of no more than USD 100.5 million are expected to be achieved in 2026.

2. 5100 XIZANG (01115.HK) disclosed on August 19 that its wholly-owned subsidiary entered into a distribution contract with Landmark Holding Sdn. Bhd. of Malaysia, granting exclusive distribution rights for 5100 mineral water in Malaysia and non-exclusive distribution rights for Southeast Asian and Middle East export markets, with an initial cooperation term of three years, automatically renewable for three years upon meeting performance targets.

3. SHOUGANG CENT (00103.HK) disclosed on August 17 that it signed a letter of intent for cooperation with Meili Jingjie Capital, proposing to jointly establish a joint venture in the tyre carcass material sector and expand the global industrial rayon product market; Meili Jingjie Capital is the controlling shareholder of Cordenka, a global industrial rayon producer. The formal agreement remains subject to negotiation and signing.

4. GAUSH MEDITECH (02407.HK) disclosed on August 17 that its subsidiary Gaoshi Innovation signed a five-year exclusive agency agreement with HEIDELBERG ENGINEERING GmbH of Germany, under which HEIDELBERG will exclusively distribute Gaoshi Innovation's self-developed corneal confocal microscope T3 globally outside China, and handle marketing and technical services; the cooperation has expanded from single-market agency to a global scope.

Overseas Projects and Operations

1. SINOPEC SSC (01033.HK) disclosed on August 17 that its wholly-owned subsidiary acquired 50% equity of Mexico's DS company and a 0.01% interest in the EBANO project for USD 4 million, resulting in an indirect 55% interest in the EBANO project upon completion, with plans to make additional investment of no more than USD 212 million; the EBANO oilfield holds petroleum geological reserves of 4.92 billion barrels, and the transaction does not constitute a connected transaction or major asset restructuring.

2. MMG (01208.HK) disclosed on August 19 that one employee and one contractor employee of its Las Bambas mine in Peru died in an accident while replacing water pumps in a purification pond on August 18, with three others injured; as a precautionary measure, activities in the relevant area have been suspended and the mine has halted operations, with a gradual resumption expected from August 21.

3. MONGOLIA ENERGY (00276.HK) disclosed on August 21 that its indirect wholly-owned subsidiary MoEnCo entered into a construction contract with contractor Orgil J Trade LLC to build heating pipelines, clean water pipes and sewage pipes at the Hushuotu coal mine, for a total consideration of MNT 2.679 billion (approximately HKD 5.626 million); the pipelines connect the new office administrative area with the industrial area, supporting the relocation arrangement under the mining plan in which the current office area will be used as a spoil area.

Overseas Financing

1. INGENIC (03223.HK) launched its global offering of H shares on August 17, proposing to offer 31.2873 million H shares at a maximum offer price of HKD 102.80 per share, with the Hong Kong public offering accounting for approximately 10% and the international offering approximately 90%; at the maximum offer price, 11 cornerstone investors will subscribe for an aggregate of approximately USD 191.65 million, representing 46.74% of the offered shares. Trading of the H shares is expected to commence on the Stock Exchange on August 25.

2. ASR (688220.SH) disclosed on August 15 that its board reviewed and approved the resolution to issue H shares and list on the Main Board of the Hong Kong Stock Exchange, proposing to issue overseas listed foreign shares and apply for listing to further enhance capital strength and deepen its internationalization strategy; specific details remain subject to shareholders' meeting deliberation and regulatory filing approval.

3. XINGYU CO.,LTD (601799.SH) disclosed on August 15 that its H-share issuance received the filing acceptance notice for overseas issuance and listing from the CSRC, proposing to issue no more than 44.79965 million overseas listed ordinary shares and list on the Hong Kong Stock Exchange, subject to the approval, endorsement or filing of the SFC and the Stock Exchange.

4. HUNAN YUNENG NEW ENERGY BATTERY MATERIAL (301358.SZ) submitted its H-share listing application to the Hong Kong Stock Exchange on August 17, with CSC International and HSBC as joint sponsors; the company focuses on phosphate cathode materials, and according to Frost & Sullivan, it has ranked first among global phosphate cathode material suppliers for six consecutive years from 2020 to 2025 by shipment volume, holding a 28.2% global market share in 2025.

Regulation and Compliance

1. HAIXI PHARMA (02637.HK) disclosed on August 17 that its self-developed innovative drug HX9428 was granted Fast Track designation by the US FDA, for development to treat neovascular age-related macular degeneration; the drug is an oral small molecule and has received FDA approval to conduct Phase II clinical trials in the United States.

2. STAIDSON BIOPHARM (300204.SZ) disclosed on August 20 that its subsidiary Jiangsu Beijietai received a formal letter from the US FDA agreeing to clinical trials of STSP-0601 (bomintafase alfa for injection) for the treatment of bleeding in patients with hemophilia A or B with inhibitors; the drug had previously obtained a drug registration certificate from the NMPA in June 2026.

3. SDKX (688136.SH) disclosed on August 18 that the imported Maibo Taike infliximab biosimilar (Leiting) received marketing approval from the Thai Food and Drug Administration; the product had previously gained market access in Peru, Indonesia, Pakistan, Bangladesh, Malaysia and other markets.

NewTimeSpace Going Global Observation

This week's going-global themes centered on two directions: biomedicine and overseas resources. In biomedicine, HENLIUS's global strategic cooperation with Sandoz, GAUSH MEDITECH's global distribution with HEIDELBERG, combined with the successive overseas regulatory access achieved by HAIXI PHARMA, STAIDSON BIOPHARM and SDKX, show Chinese pharmaceutical companies and device manufacturers moving from single-product licensing toward global commercialization networks. In resources and energy, SINOPEC SSC's acquisition of Mexican oilfield interests, MMG's push to resume production at its Peruvian mine, and MONGOLIA ENERGY's coal mine supporting infrastructure improvements reflect continued mining capital investment in overseas resource projects. On the financing side, INGENIC, ASR, XINGYU CO.,LTD and HUNAN YUNENG NEW ENERGY BATTERY MATERIAL are collectively advancing H-share issuances, with A-share companies accelerating their access to international capital markets via Hong Kong. Overall, equity mergers and acquisitions, global licensing cooperation and overseas regulatory access constitute the main forms of this week's going-global activity, with the going-global approach extending further toward capital and industrial cooperation beyond the stage dominated by product exports.

This article is for information compilation only and does not constitute any investment advice.

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