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>InnoCare recorded total revenue of RMB188mn in 2Q23, including RMB169mn sales from orelabrutinib (+12% QoQ, +52% YoY).</li><li>In 1H23, the sales of orelabrutinib totalled RMB321mn, +48% YoY, accounting for 33% of our previous full-year estimate.</li><li>In comparison, BGNE’s zanubrutinib achieved US$97mn revenue in China in 1H23, +38% YoY.</li><li>InnoCare’s GP margin (vs total revenue) improved significantly from 77% in 1Q23 to 82% in 2Q23. </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>

InnoCare recorded total revenue of RMB188mn in 2Q23, including RMB169mn sales from orelabrutinib (+12% QoQ, +52% YoY).In 1H23, the sales of orelabrutinib totalled RMB321mn, +48% YoY, accounting for 33% of our previous full-year estimate.In comparison, BGNE’s zanubrutinib achieved US$97mn revenue in China in 1H23, +38% YoY.InnoCare’s GP margin (vs total revenue) improved significantly from 77% in 1Q23 to 82% in 2Q23. 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.

InnoCare Pharma (9969 HK) – Consistent Results of Orelabrutinib for MS

InnoCare Pharma Ltd

InnoCare Pharma (9969 HK) – Consistent Results of Orelabrutinib for MS