Gan & Lee Pharmaceuticals Co Ltd

Gan & Lee Pharmaceuticals released its 2026 interim report, with total operating revenue of 2.223 billion yuan, net profit attributable to the parent company of 610 million yuan, and net operating cash inflow of 432 million yuan. The company's asset-liability ratio was 8.25%, gross margin was 74.13%, ROE was 5.21%, and diluted earnings per share was 1.03 yuan. The number of shareholders was 75,600, and the top ten shareholders held 49.82% of the total share capital.

Gan & Lee has struck a licensing deal with multinational biopharma Menarini Group to bring its investigational obesity drug bofanglutide injection to the European market. Under the agreement, Gan & Lee will receive an upfront payment of 62 million euros, potential milestone payments totaling 664 million euros, and tiered royalties up to the low double digits on net sales in the licensed territory. The total potential deal value reaches 726 million euros, equivalent to approximately 5.653 billion yuan. Menarini will handle registration and commercialization of bofanglutide across 39 European countries and regions, including the 27 EU member states plus the United Kingdom, Switzerland, Norway, Iceland, Liechtenstein, and the Balkans. Bofanglutide injection is potentially the world’s first GLP-1 receptor agonist administered once every two weeks. Its core competitive advantage lies in the biweekly dosing regimen, which cuts injection frequency by roughly 50 percent compared with conventional weekly GLP-1 receptor agonists, potentially improving patient adherence. This collaboration marks the fourth overseas out-licensing deal for bofanglutide’s global registration and commercialization, and the largest by potential value to date. Boosted by the news, Gan & Lee shares opened limit-up on the morning of August 11, briefly broke the board during the session before sealing limit-up again, giving the company a market capitalization of 44.528 billion yuan.

Construction Machinery has received notice from its controlling shareholder, Shaanxi Coal Group, approving the plan to acquire 100% equity in Pucheng Clean Energy Chemical Company through a combination of share issuance and cash payment, along with a concurrent fundraising. Trading in the company's shares will be halted from market open on August 11, with the halt expected to last no more than 10 trading days. Jiangbolong reported first-half revenue of 24.088 billion yuan, up 136.26% year-on-year, and net profit attributable to the parent of 10.577 billion yuan, up 71,528.66%. It also plans to repurchase shares worth 400 million to 800 million yuan for equity incentives or employee stock ownership plans, with a repurchase price not exceeding 735 yuan per share. Heduan Intelligent saw a net institutional seat purchase of 50.8161 million yuan on August 10, accounting for 1.91% of total turnover. In addition, WuXi AppTec posted first-half net profit attributable to the parent of 11.08 billion yuan, up 29.43% year-on-year, and significantly raised its full-year performance guidance, with its share price continuing to climb. Gan & Lee Pharmaceuticals reached an exclusive licensing agreement with Menarini, granting it the rights to register and commercialize Bofanglutide for overweight or obesity indications in 39 European countries and regions, with milestone payments of up to 664 million euros.

Jiemei Technology plans to acquire a 100% stake in Evers Technology for 915 million yuan. The target company is engaged in the research, development, production, and sales of deterministic polishing equipment for ultra-high-precision optical components. Today, the three major A-share indexes closed mixed, with market turnover at 2.54 trillion yuan, shrinking by over 140 billion yuan from the previous trading day. More than 4,000 stocks closed higher, including 103 hitting the daily limit. On the sector front, concepts such as ordnance equipment restructuring, chicken farming, pork, and dairy led the gains, while glass substrates, co-packaged optics, and F5G were among the biggest decliners. Institutional trading data showed Tongyu Communication topped net institutional buying at 170 million yuan, while Tianyu Digital topped net institutional selling at 158 million yuan. In other news, Construction Machinery plans to acquire a 100% stake in Pucheng Clean Energy Company and has suspended trading, Zhongrong Electric has secured an exclusive global nomination from a U.S. new energy vehicle startup, and Gan & Lee Pharmaceuticals has signed a licensing agreement with Menarini for the Bofagluptide project.

On the evening of August 10, multiple listed companies on the Shanghai and Shenzhen stock exchanges released important announcements. Gan & Lee Pharmaceuticals signed a licensing agreement with Menarini for the Bofang Glutide project, with an upfront payment of 62 million euros and milestone payments of up to 664 million euros. Construction Machinery plans to acquire 100% equity of Pucheng Clean Energy Company, and its shares will be suspended from trading starting August 11. Guolian Minsheng plans to reduce the registered capital of Minsheng Securities by 10 billion yuan, and Minsheng Securities will mainly engage in wealth management business. Weichai Heavy Machinery plans to invest approximately 538 million yuan to build a high-end equipment manufacturing base for electric power energy. Kunlun Tech plans to transfer its equity in Xianlai Huyu for 750 million yuan and also plans to issue H shares for listing in Hong Kong. Jiemei Technology plans to purchase 100% equity of Aifusi Technology through share issuance, with a transaction amount of 915 million yuan. Zhongke Magnetics plans to issue convertible bonds to raise no more than 609 million yuan, and Huicheng Vacuum plans to raise no more than 955 million yuan through a private placement. Aili Home will suspend trading from August 11 for verification after its stock price surged 185.56% over 11 trading days. In terms of performance, Jiangbolong's net profit in the first half of the year was 10.577 billion yuan, a year-on-year increase of 71,528.66%; Zangge Mining's net profit was 3.638 billion yuan, up 102.09% year-on-year, and it plans to distribute 10 yuan per 10 shares; Debang Technology's net profit rose 49.33% year-on-year, with a planned dividend of 1 yuan per 10 shares; Xinlian Integration's net profit was 278 million yuan, turning losses into profits year-on-year; Ninebot's net profit was 1.008 billion yuan, down 18.79% year-on-year. In addition, Beijing Junzheng, Jiangbolong, Zhaochi Holdings, and other companies disclosed buyback plans, and Fuwei Holdings received a seat project nomination worth approximately 3.936 billion yuan.

Several companies released important announcements today. Unitree Technology announced the final online subscription lottery rate for its STAR Market IPO at 0.01809759%, with an issue price of 150.80 yuan per share. Longsys disclosed its 2026 semi-annual report, achieving a net profit of 10.577 billion yuan, a year-on-year increase of 71,528.66%, and plans to repurchase shares with 400 million to 800 million yuan. Elegant Home, which hit the daily limit for 12 out of 11 trading days, announced that its stock price rose 185.56% over 11 trading days, and trading was suspended again for review just three trading days after resumption. The lottery numbers for the year's most expensive new stock, Precisive Laser, were drawn, totaling 6,423 winning numbers, with an issue price of 186.88 yuan per share. Gan & Lee Pharmaceuticals authorized Menarini the commercialization rights for the overweight or obesity indication of Bofangglutide in 27 EU countries and other regions, with milestone payments of up to 664 million euros. United Nova Technology reported a half-year net profit of 278 million yuan, turning losses into profits year-on-year. Construction Machinery plans to acquire 100% equity of Pucheng Clean Energy Company, and its stock was suspended. In addition, GigaDevice's subsidiary invested 100 million US dollars to subscribe for private equity fund shares. The upper-level equity structure change of Shanshan's controlling shareholder was completed, with Conch Group becoming the indirect controlling shareholder. Easyhome's actual controller changed to Yang Fang.

The clinical trial applications for two oral weekly GLP-1 drugs, Innovent Biologics' IBI3042 and Gan & Lee Pharmaceuticals' GZC8072 tablets, have been accepted by the National Medical Products Administration. IBI3042 is the world's first small-molecule weekly GLP-1 drug to enter the clinical stage. Recently, Hengrui Medicine achieved three key milestones, including the approval of famitinib combined with camrelizumab for first-line treatment of PD-L1 positive cervical cancer. The number of oral presentations by Chinese innovative drugs at the ESMO Congress hit a new high, which Soochow Securities believes signals China's growing influence in research and development. In the first half of this year, 38 innovative drugs were approved for marketing, of which 31 were domestically developed, accounting for over 80 percent. The total value of out-licensing deals for innovative drugs exceeded 100 billion dollars.

China's A-share market saw mixed performance on July 6, with the Shanghai Composite Index edging down 0.06 percent to 4,041.24 points and the ChiNext Index falling 1.77 percent. Combined turnover on the two exchanges reached approximately 3.11 trillion yuan. The coal sector rallied in the afternoon, with Haohua Energy hitting its daily limit at the close, Xinji Energy surging nearly 9 percent, and Shaanxi Coal Industry climbing over 7 percent. The pharmaceutical sector was strong, with innovative drug concepts standing out. Shouyao Holdings briefly surged by the 20 percent daily limit, and Gan & Lee Pharmaceuticals hit its daily limit. The PCB concept slumped sharply, with Sinoma Science & Technology, China Jushi, and Haohua Science & Technology all hitting their daily limit down. Reports indicate that Nvidia's next-generation Kyber NVL144 rack architecture may face delivery delays of more than 12 months due to manufacturing process challenges with PCB mid-boards, pushing mass production back to 2028.

The pharmaceutical sector rallied strongly during trading on the 6th, with weight-loss drug and innovative drug concepts standing out. Shouyao Holdings and Gan & Lee Pharmaceuticals were among multiple stocks that hit their daily limit up. As of press time, Shouyao Holdings surged by the 20 percent daily limit, Hotgen Biotech rose about 14 percent, Mabwell Bioscience, InventisBio, and Shanghai Yizhong Pharmaceutical gained over 10 percent, Gan & Lee Pharmaceuticals, Huahai Pharmaceutical, and Menovo Pharmaceutical also hit their daily limit up, BeiGene and Pharmaron climbed over 7 percent, and Hengrui Medicine advanced more than 5 percent. In the Hong Kong market, Duality Biologics, InnoCare Pharma, and Sino Biopharmaceutical rose over 10 percent, while WuXi XDC and Pharmaron gained more than 5 percent. On the news front, the National Medical Products Administration is soliciting public comments on optimizing the review and approval of cell and gene therapy drugs, encouraging clinically value-oriented R&D innovation, focusing on key areas such as malignant tumors and rare diseases, and placing eligible drugs into a 30-day review and approval pathway. Meanwhile, the overseas expansion of innovative drugs is accelerating. Since 2026, the total value of China's innovative drug license-out deals has reached 94.3 billion US dollars, up 81 percent year-on-year, with upfront payments reaching 5.5 billion US dollars, up 124 percent year-on-year, reflecting growing overseas recognition of China's innovative drug pipeline. CICC noted that leading innovative drug companies are shifting from the R&D investment phase into a positive cycle of commercial scale-up and overseas licensing revenue realization.