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

Innovent Biologics Inc / Equity Bottom-Up

<ul><li>IBI363 (PD-1/IL-2) demonstrated encouraging signals in IO-failed and cold tumors, especially in IO-resistant sq-NSCLC.</li><li>IBI363 is a potential FIC PD-1/IL-2 bsAb with a differentiated α-biased IL-2 arm, distinct from other IL-2 mAbs that eliminate the receptor α. IBI363 has shown broad-spectrum anti-tumor effects for IO-failed and cold tumors, including IO-resistant NSCLC, melanoma, and 3L+ CRC.</li><li>Especially, for later-line IO-treated sq-NSCLC patients (n=37, 76% with ≥2 prior treatment) receiving IBI363 at ≥0.3mg/kg, the ORR reached 35.1% and the mPFS reached 5.5 months, which were much better than the current SoC docetaxel’s 12.7% ORR and 3.9 months of mPFS.</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>

IBI363 (PD-1/IL-2) demonstrated encouraging signals in IO-failed and cold tumors, especially in IO-resistant sq-NSCLC.IBI363 is a potential FIC PD-1/IL-2 bsAb with a differentiated α-biased IL-2 arm, distinct from other IL-2 mAbs that eliminate the receptor α. IBI363 has shown broad-spectrum anti-tumor effects for IO-failed and cold tumors, including IO-resistant NSCLC, melanoma, and 3L+ CRC.Especially, for later-line IO-treated sq-NSCLC patients (n=37, 76% with ≥2 prior treatment) receiving IBI363 at ≥0.3mg/kg, the ORR reached 35.1% and the mPFS reached 5.5 months, which were much better than the current SoC docetaxel’s 12.7% ORR and 3.9 months of mPFS.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.

Innovent Biologics (1801 HK) - Promising PoC Results of the Potential FIC Asset