Designation underscores potential of chemically induced, off-the-shelf cell therapy to address high unmet need in Parkinson’s disease, following compelling Phase I clinical data

CHENGDU, China, Jan. 19, 2026 /PRNewswire/ — iRegene Therapeutics Co., Ltd. (“iRegene” or the “Company”), a biotechnology company pioneering chemically induced allogeneic cell therapy, today announced that its lead product, NouvNeu001, has been granted Regenerative Medicine Advanced Therapy (RMAT) designation by the U.S. Food and Drug Administration (FDA) for the treatment of Parkinson’s disease (PD).

This milestone makes NouvNeu001 the first allogeneic iPSC-derived cell therapy globally to hold both FDA Fast Track Designation (FTD) and RMAT designations, following the FTD granted in August 2025. These regulatory recognitions validate the promising clinical data, innovative chemical induction platform, and the therapy’s potential to modify the course of Parkinson’s disease.

The RMAT designation is a special regulatory pathway established by the U.S. FDA under the 21st Century Cures Act, to accelerate the development and review of regenerative medicine therapies intended to treat, modify, reverse, or cure serious or life-threatening diseases. Products granted RMAT designation may receive benefits including early, frequent, and close interaction with the FDA, and potential eligibility for accelerated approval pathways and priority review. This collaborative regulatory framework is expected to further shorten the timeline from clinical development to market, supporting iRegene’s mission to bring transformative therapies to patients worldwide.

Dr. Meng Cai, Chief Medical Officer of iRegene Therapeutics, stated:

“The RMAT designation is a pivotal regulatory advancement for NouvNeu001 and a strong endorsement of its clinical value. This designation reflects the FDA’s recognition of NouvNeu001’s potential to address a serious unmet medical need in Parkinson’s disease and provides a structured framework for deep, efficient collaboration with the agency.  We are committed to leveraging this opportunity to accelerate our global clinical development program and bring this transformative therapy to patients as early as possible.”

Addressing a Fundamental Unmet Need in Parkinson’s Disease

Parkinson’s disease is the second most prevalent neurodegenerative disorder globally. Existing therapies primarily focus on symptomatic relief or complication management, rather than modifying or reversing disease progression.

NouvNeu001 was developed to directly address this fundamental treatment gap. As an iPSC-derived, allogeneic dopaminergic progenitor cell therapy, it is designed to replace lost dopaminergic neurons, restore disrupted neural circuits, and enable patients to regain endogenous dopamine production. By targeting the root cause of neuronal degeneration, NouvNeu001 represents a first-in-class, disease-modifying approach with the potential to fundamentally change the PD treatment standard.

Compelling Efficacy: Translating Cellular Precision into Clinical Improvement

The ultimate validation of iRegene’s platform lies in its ability to meaningfully improve patients’ lives. The Phase I data revealed significant clinical efficacy, including marked improvements in MDS-UPDRS Part III motor scores, the gold standard for assessing motor function in PD.

The results were robust: the low-dose cohort showed improvements of 30.6 points (OFF, a 52.82% improvement from baseline) and 12.9 points (ON, a 54.67% improvement from baseline) at 12 months; similarly, the high-dose cohort showed improvements of 23.3 points (OFF) and 9.67 points (ON) at 9 months.

These improvements were statistically significant, and most encouragingly, continued improvement was observed through 15 months post-treatment, suggesting the sustained benefit of the engrafted cells.

A Growing Pipeline: A Commitment to Patients Across Disease States

iRegene’s vision extends beyond a single product. The company is committed to leveraging its unique “AI + Chemical Induction” platform to build a robust pipeline of universal iPSC-derived therapies for currently “incurable” diseases.

Building on the success of NouvNeu001, iRegene is advancing a growing pipeline featuring:

• NouvNeu004: Recently received I-III all-stage IND approval from the NMPA, making it the world’s first cell therapy product for Multiple System Atrophy (MSA) and iRegene’s third self-developed product to enter clinical trials.
• NouvNeu003: The company’s second product targeting early-onset Parkinson’s disease, which entered Phase I trials in December 2023.
• NouvSight001: A breakthrough ophthalmology product that was granted Orphan Drug Designation (ODD) by the U.S. FDA in March 2024 for retinal degenerative diseases.

These expanding pipelines underscore iRegene’s long-term commitment to patients and the company’s confidence in its platform to generate a new generation of transformative therapies – bringing scalable, safe, and effective cell treatments to those who need them most. 

About iRegene Therapeutics

Founded in 2017 by a team of international professionals, iRegene Therapeutics is the world’s earliest biotech to apply ” Chemical induction” to precisely reprogram cell fate and optimize cellular functions for their innovative cell therapy products. Leveraging this breakthrough platform, iRegene has built a robust pipeline targeting currently “incurable” diseases including Parkinson’s disease (PD) and blindness. As a leader in “chemical induction”, iRegene’s proprietary system enables the efficient easy generation of human specific cell types with high purity, and enhanced cellular functionality, pioneering the next generation of chemically derived cell therapies.

14 ETFs under ChinaAMC are added, making it the largest fund company by total products included

BEIJING, Jan. 19, 2026 /PRNewswire/ — Offshore investors can now access 98 new onshore ETFs through the Stock Connect program starting today, gaining exposures to a wide range of new targets—from the broad-based CSI A500 index to thematic ones such as satellites and non-ferrous metals.

The latest expansion on January 19 will see 54 Shanghai-listed ETFs included under northbound Shanghai Stock Connect and 44 Shenzhen-listed ETFs added via the Shenzhen route, according to Hong Kong Exchanges and Clearing. Seven products will be temporarily removed.

Following the expansion, the total number of eligible northbound products in the ETF Connect universe has reached 364. This is the largest increase since the program started in 2022, which allowed offshore investors to trade onshore ETFs via the Stock Connect program between Hong Kong and Mainland.

Among 29 China fund managers involved in the latest inclusion, China Asset Management Co.(ChinaAMC) has the largest number of newly eligible products, with 14 additions.

These products are heavily concentrated in technology themes, such as cloud computing and big data(516630) and CSI semiconductor material & equipment (562590). Other novel types include CSI non-ferrous metals(516650), CSI power grid equipment (159326), and CSI gold industry stocks(159562).

ETFs tracking the CSI A500 Index, the flagship index the regulators have keenly promoted to better represent the new structure of China economy, were included in the ETF Connect universe for the first time. With an AUM of 41.2 billion yuan, ChinaAMC CSI A500 ETF (512050) is among 25 such funds newly added.

Stronger overseas appetite for onshore ETFs

Last year, overseas investors’ crescendo sentiments toward China’s technology breakthrough, global capital’s re-rating of China-themed stocks, and the slow bull run in H2 have fueled a surge in portfolio inflow into China’s onshore equity market via the ETF Connect’s northbound route.

Northbound trading in Shanghai and Shenzhen-listed ETFs hit a historic peak of 816.6 billion yuan(USD 117.2 billion) in 2025, up 76% year-on-year, according to iFinD. The trading turnover represents a rapidly narrowing gap with southbound trading, which historically has been much stronger than the other way around.

Although total southbound trading flow last year remained higher, at HKD 921.6 billion, northbound flow beat the southbound in some months—including March, June, July, and each month from September onward—reflecting strong overseas appetites toward A-shares for those periods.

The blistering rally since the beginning of this year further boosted the sentiment, leading to a 46.4 billion yuan turnover as of Jan 16, a figure outweighed the southbound trading.

Now, as the total number of eligible northbound funds expanded to 364, ChinaAMC’s qualifying ETFs have grown to 38, the highest among all Chinese asset managers. The expansion of product pool means that offshore investors can access various themes, industries and assets under one single ChinaAMC banner.

Learn more about the ETF Connect scheme: https://en.chinaamc.com/enetf/index.html

About ChinaAMC

Founded in April 1998, China Asset Management Co., Ltd. (ChinaAMC) has grown to be one of the largest asset managers in China, with total AUM exceeding RMB3.2 trillion (US$449.5billion) as of Sept 30, 2025. It positioned itself as a full-service and versatile asset management platform that operates across asset classes, industries and regions. ChinaAMC has been China’s largest equity ETF provider for 21 consecutive years (2005-2025).

Source: ChinaAMC. AUM includes subsidiaries. ETF data is sourced from iFinD and as of Jan 16, 2026. The FX rate is sourced from PBoC of the closing price of Jan 16, 2026

Disclaimer

Investment involves risk, including possible loss of principal. The information contained herein is for reference only and reflects prevailing market conditions and our judgment as of the release date, which are subject to change without further notice.

HONG KONG, Jan. 19, 2026 /PRNewswire/ — Harvest Global Investments Limited (“HGI”), the international subsidiary of Harvest Fund Management, today announced a new round of executive leadership appointments. Mr. Charlie Chen, Managing Director of Harvest Fund Management and former Head of the Strategic Institutional Client Business, has been officially appointed as the Chief Executive Officer (CEO) of HGI. He will be responsible for the overall strategic planning and business development of HGI, reporting to Mr. Larry Lu, Chairman of Harvest Global Investments.

Concurrently, Mr. Kevin Shu, formerly Head of Cross-border and Overseas Business at Harvest Fund Management, has been appointed as Chief Marketing Officer (CMO), overseeing market expansion and client communications. Ms. Yiqian Jiang, previously Head of Investment at HGI, has been promoted to Chief Investment Officer (CIO), taking complete charge of the company’s investment management and the development of its research system.

These appointments mark the further refinement of HGI’s core management team during a pivotal growth stage, reflecting the parent company, Harvest Fund Management’s, continuous commitment and resource investment in its offshore business platform.

Leveraging the “Connector” Advantage to Build a Two-Way Service Bridge 

This leadership transition comes at a critical time as HGI deepens its international asset allocation capabilities. Established in 2008 as one of the first Chinese asset management companies to set up operations in Hong Kong, HGI has spent 18 years building a professional team with an international vision and extensive market experience. It provides diverse asset management services—including active equity, fixed income, index, and multi-strategy solutions—to investors in Hong Kong and globally. The firm has built a solid foundation in assisting overseas capital in allocating to Chinese assets and supporting mainland investors in global allocation.

Against the backdrop of the implementation of the “New Nine Guidelines” (New National Nine Articles) and the deepening reform of China’s capital markets, the medium- to long-term investment value of Chinese assets has become increasingly prominent. International institutions remain optimistic about China’s capital markets, particularly in countries and regions benefiting from the “Belt and Road” Initiative. Hong Kong’s unique institutional advantages as a vital hub connecting China with international capital continue to play a key role in the new wave of cross-border capital flows. As a Chinese asset management company, HGI is actively leveraging its role as a “Connector” to drive innovation in products and business models, deepen two-way services, and continuously strengthen professional expertise and risk management foundations, thereby seizing opportunities to translate policy dividends into tangible business growth and enhanced market competitiveness.

Harvest G2 Tech 50 ETF received conditional regulatory approval

Recently, Harvest G2 Tech 50 ETF received conditional regulatory approval. This product uses an indexing approach to track the Solactive Harvest Tiger G2 Tech 50 Select Index NTR, aiming to capture core tech assets in both China and the U.S, including tech giants in the Hong Kong SAR and U.S. markets.

Industry analysts believe this ETF demonstrates HGI’s expertise in complex cross-market structural design. Looking ahead, HGI will actively explore the inclusion of related products in the ETF Connect mechanism to better meet the needs of mainland investors seeking exposure to global tech assets.

HGI stated that under the leadership of the board of directors, the new management team will continue to deepen the integration of the parent company’s platform strengths in the future, carry out comprehensive cooperation in multiple dimensions including investment research, products, sales, and customer service, HGI aims to seize the broad opportunities brought by policy mechanisms such as connectivity, provide rich products, diversified asset allocation, and agile cross-border investment services for investors in Hong Kong, the Chinese mainland and around the world, and strive to create sustainable returns for investors.

About the Management Team

Charlie Chen (CEO): With over 22 years of experience in capital markets, Mr. Chen joined Harvest Fund Management in 2004. He has served a wide range of strategic institutional clients, including insurance companies, pension funds, sovereign wealth funds, and trusts. He possesses a deep understanding of diverse investment philosophies and the deployment of both domestic and offshore capital. Before Harvest, he served at Southern Securities.

Kevin Shu (CMO): Mr. Shu has 21 years of capital market experience. Joining Harvest Fund Management in 2009, he has served as an Institutional Product Manager and Head of Cross-border and Overseas Business, serving global clients across more than 15 countries and regions. Before joining Harvest, he was a Senior Institutional Investment Analyst at Fidelity Investments Canada and a Portfolio Performance Analyst at the OPSEU Pension Trust, one of Canada’s largest public pension plans.

Yiqian Jiang (CIO): Ms. Jiang joined HGI in September 2009 as a Fund Manager and Head of Investment. She has over 26 years of experience in the financial industry with a profound expertise in the Chinese equity market. Before HGI, she spent over 9 years as a China Equity Fund Manager at Deutsche Asset Management (Hong Kong). She previously worked at Shanghai International Asset Management (HK) and Shenyin Wanguo Securities.

About Harvest Global Investments Co., Ltd.

Established in Hong Kong in 2008, Harvest Global Investments Limited (“HGI”) is a subsidiary of Harvest Fund Management. As the core platform for the group’s international business, HGI holds Licenses Type 1 (Dealing in Securities), Type 4 (Advising on Securities), and Type 9 (Asset Management) issued by the Securities and Futures Commission (SFC) of Hong Kong. Leveraging the robust strength and brand heritage of its parent company, HGI provides global investors with comprehensive asset management solutions across equities, fixed income, index, and multi-asset strategies.

IMPORTANT: Investment involves risks, including possible loss of principal amount invested. Past performance or any prediction or forecast is not indicative of future results. Investors should read the offering documents of Harvest G2 Tech 50 ETF (the “Sub-Fund”) for further details, including the risk factors, before investing. Investors should not base investment decisions on this material alone. Investors should note:

• The Sub-Fund’s investments are concentrated in China (including Hong Kong) and the United States. The value of the Sub-Fund may be more volatile than that of a fund having a more diverse portfolio of investments and may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the relevant sector.
• The Index is a new index. The Sub-Fund may be riskier than other exchange traded funds tracking more established indices with longer operating history.
• Risks associated with financial derivative instruments (the “FDIs”) include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. FDIs are susceptible to price fluctuations and higher volatility. The leverage element/component of an FDI can result in a loss significantly greater than the amount invested in the FDI by the Sub-Fund. Exposure to FDIs may lead to a high risk of significant loss by the Sub-Fund.
• Investors of Listed and Unlisted Classes of Units are subject to different pricing and dealing arrangements. The NAV per Unit of each of the Listed and Unlisted Classes of Units may be different due to different fees and cost applicable to each class. The trading hours of SEHK applicable to the Listed Class of Units in the secondary market, the dealing deadlines in respect of the Listed and/or Unlisted Classes of Units in the primary market, may be all different. In view of the differences in fee and cost arrangements between the Listed and Unlisted Classes, the NAV per Unit of each of the Listed Class of Units and Unlisted Classes of Units may also be different.
• The Sub-Fund is subject to general investment risk, passive investment risk, mega-capitalisation companies risk, currency risk and distributions out of or effectively out of capital risks.

The Sub-Fund is authorized by the Securities and Futures Commission in Hong Kong (“SFC”). Such authorization does not imply official recommendation by the SFC.

Investment involves risks, including possible loss of principal amount invested. Past performance or any prediction or forecast is not indicative of future results. Investors should read the offering documents for further details, including the risk factors, before investing. Investment returns not denominated in HKD/USD are exposed to exchange rate fluctuations. This web page is published by Harvest Global Investments Limited and has not been reviewed by the Securities and Futures Commission in Hong Kong.

• Duke-NUS and NUHS scientists uncover a complex web of genetic, age-related and microbial factors that increase the risk of stomach cancer.
• Age-related blood cell mutations may trigger early changes in the stomach lining, offering new insights into how cancer risk builds over time and underscoring the importance of healthy ageing.
• Findings point to new ways to identify individuals at highest risk of developing stomach cancer, opening opportunities for targeted prevention and precise screening.

SINGAPORE, Jan. 19, 2026 /PRNewswire/ — Scientists at Duke-NUS Medical School and the National University Health System (NUHS), together with an international team of researchers, have uncovered a complex interplay of factors that increase the risk of developing stomach cancer (gastric cancer). These factors include genetic and age-related blood mutations, smoking and infection by oral bacteria. Published in Cancer Discovery, the findings provide new insight into the earliest biological changes that precede the development of gastric cancer and could offer more precise approaches for risk stratification and prevention.

Gastric cancer remains one of the world’s deadliest cancers. It is the fifth most common cancer and the fourth leading cause of cancer-related deaths globally, accounting for 769,000 deaths in 2020^[1]. In Singapore, it is among the top 10 causes of cancer-related deaths, claiming about 300 lives^[2] each year.

Gastric cancer typically develops over many decades, beginning with chronic inflammation in the stomach lining. This can progress to intestinal metaplasia, a condition in which normal stomach cells gradually convert to cells resembling those usually found in the intestines. Over time, these changes may progress to more severe tissue damage and cancer. However, clinicians have limited ability to predict which individuals with intestinal metaplasia are most likely to progress to gastric cancer.

To address this gap, studies were conducted under the Singapore Gastric Cancer Consortium (SGCC), a multidisciplinary national research programme comprising clinicians and scientists from various academic medical centres, universities and research institutes working in gastric cancer research and management. The SGCC team, which included collaborators from the National University of Singapore Yong Loo Lin School of Medicine (NUS Medicine), the Nanyang Technological University’s Lee Kong Chian School of Medicine and the A*STAR Genome Institute of Singapore, along with clinicians from SingHealth, NHG Health, Hong Kong SAR, Japan, South Korea, Taiwan region and the USA, analysed more than 1,500 intestinal metaplasia samples collected across six countries. This large, geographically diverse dataset enabled the team to compare genetic changes across populations with differing levels of gastric cancer risk.

Using advanced genetic analyses, the researchers identified 47 significantly mutated genes in intestinal metaplasia cells. Mutations in one particular gene, ARID1A, were associated with increased risk of gastric cancer and poorer prognosis. The team also uncovered a distinct pattern of DNA damage, known as SBS17, which was absent in healthy stomach tissue but commonly found in intestinal metaplasia. SBS17 is linked to oxidative stress—a type of cellular damage caused by reactive molecules generated by abnormal metabolism. This damage can be worsened by exposure to tobacco smoking. This finding suggests that oxidative stress may play a critical role in the earliest stages of gastric cancer development.

In another exciting development, the team also discovered that pyrvinium, a drug currently used to treat parasites, had the ability to inhibit the growth of intestinal metaplasia cells. Building on this finding, clinical studies under the SGCC are being planned to explore therapeutic strategies for intestinal metaplasia.

Unexpectedly, the team also discovered that clonal hematopoiesis, a process in which blood stem cells acquire mutations and multiply—was also associated with increased susceptibility to gastric cancer. Since clonal hematopoiesis is known to occur in the elderly, these findings further explain why gastric cancer is often diagnosed in patients later in their life. Further analysis revealed that individuals with clonal hematopoiesis also carried higher levels of oral bacteria such as Streptococcus in their stomachs. Together, the “dual-impact” of weakened immunity caused by clonal hematopoiesis, along with increased bacterial levels, may fuel chronic inflammation and accelerate progression to gastric cancer.

Professor Patrick Tan, Dean at Duke-NUS Medical School and a senior author of the study, said:

“Gastric cancer is often called a silent killer because it takes hold quietly, long before symptoms appear. What our study shows is that risk does not come from one place—it builds over many years through a complex interplay between ageing, genetic changes, immune shifts and even the bacteria we carry. As Singapore is a rapidly ageing population, these findings improve our understanding of biological processes that happen when we age and will contribute towards the nation’s quest to promote healthy longevity and resilience.”

Professor Yeoh Khay Guan, Chief Executive, NUHS and co-senior author of the study, said: 

“Our findings open the door to exploring new and more effective treatments such as eliminating specific bacteria, and therapies to inhibit or potentially reverse intestinal metaplasia. These findings also provide insights into which intestinal metaplasia patients are at greatest risk of developing gastric cancer. These can serve as valuable biomarkers to identify the most vulnerable long before the disease strikes, guiding more focused screening to identify those who require closer monitoring.”

Professor Yeoh is also a Senior Consultant in the Division of Gastroenterology & Hepatology at the National University Hospital, and the Kishore Mahbubani Professor in Medicine and Health Policy, Department of Medicine, NUS Medicine.

This research was supported by the Singapore Ministry of Health through the National Medical Research Council (NMRC) Office, MOH Holdings Pte Ltd under the NMRC Singapore Translational Research Investigator Award (MOH-000967), and the National Research Foundation, Singapore (NRF) under the NMRC Open Fund – Large Collaborative Grant (MOH-000206) administered by the Singapore Ministry of Health through the NMRC Office, MOH Holdings Pte Ltd.

DOI: 10.1158/2159-8290.CD-25-0778

About Duke-NUS Medical School                 

Duke-NUS is Singapore’s flagship graduate entry medical school, established in 2005 with a strategic, government-led partnership between two world-class institutions: Duke University and the National University of Singapore (NUS). Through an innovative curriculum, students at Duke-NUS are nurtured to become multi-faceted ‘Clinicians Plus’ poised to steer the healthcare and biomedical ecosystem in Singapore and beyond. A leader in ground-breaking research and translational innovation, Duke-NUS has gained international renown through its five Signature Research Programmes and ten Centres. The enduring impact of its discoveries is amplified by its successful Academic Medicine partnership with Singapore Health Services (SingHealth), Singapore’s largest healthcare group. This strategic alliance has led to the creation of 15 Academic Clinical Programmes, which harness multi-disciplinary research and education to transform medicine and improve lives.   

For more information, please visit www.duke-nus.edu.sg 

About the National University Health System

The National University Health System (NUHS) aims to transform how illness is prevented and managed by discovering causes of disease, development of more effective treatments through collaborative multidisciplinary research and clinical trials, and creation of better technologies and care delivery systems in partnership with others who share the same values and vision.

Institutions in the NUHS Group include the National University Hospital, Ng Teng Fong General Hospital, Jurong Community Hospital and Alexandra Hospital; three National Specialty Centres – National University Cancer Institute, Singapore (NCIS), National University Heart Centre, Singapore (NUHCS) and National University Centre for Oral Health, Singapore (NUCOHS); the National University Polyclinics (NUP); Jurong Medical Centre; and three NUS health sciences schools – NUS Yong Loo Lin School of Medicine (including the Alice Lee Centre for Nursing Studies), NUS Faculty of Dentistry and NUS Saw Swee Hock School of Public Health.

With member institutions under a common governance structure, NUHS creates synergies for the advancement of health by integrating patient care, health science education and biomedical research.

As a Regional Health System, NUHS works closely with health and social care partners across Singapore to develop and implement programmes that contribute to a healthy and engaged population in the Western part of Singapore.

For more information, please visit www.nuhs.edu.sg.

About the National Medical Research Council (NMRC)

The NMRC was established in 1994 to oversee research funding from the Ministry of Health and support the development and advancement of biomedical research in Singapore, particularly in the public healthcare clusters and medical schools. NMRC engages in research strategy and planning, provides funding to support competitive research grants and core research enablers, and is responsible for the development of clinician scientists through awards and fellowships. The council’s work is supported by the NMRC Office which is part of MOH Holdings Pte Ltd. Through its management of the various funding initiatives, NMRC promotes healthcare research in Singapore, for better health and economic outcomes.

About the National Research Foundation (NRF)

The National Research Foundation, Singapore (NRF), set up on 1 January 2006, is a department within the Prime Minister’s Office. The NRF sets the national direction for research and development (R&D) by developing policies, plans and strategies for research, innovation and enterprise. It also funds strategic initiatives and builds up R&D capabilities by nurturing research talent. Learn more about the NRF at www.nrf.gov.sg.

HONG KONG, Jan. 19, 2026 /PRNewswire/ — SHIMENG SUPPLY CHAIN MANAGEMENT CO., LTD. (“SHIMENG”), an investee company of Shoucheng Holdings (0697.HK), has recently initiated its initial public offering (IPO) process on the Main Board of the Shenzhen Stock Exchange. This milestone marks another significant value-realization event within Shoucheng Holdings’ industrial investment portfolio, providing a clear and verifiable catalyst that reinforces its long-term investment thesis and highlights tangible progress in the logistics and supply-chain services sector.

SHIMENG is a professional integrated supply chain logistics service provider focused on multinational manufacturing enterprises. Its service offerings cover key segments including transportation, warehousing, and customs clearance, positioning the company as an infrastructure-type service provider that connects manufacturing operations with end markets. As global manufacturing supply chains continue to evolve toward higher efficiency and greater resilience, the sector in which SHIMENG operates is supported by structurally stable demand and long-term growth potential.

Notably, the IPO represents one of the most important capitalization outcomes within Shoucheng Holdings’ investment portfolio to date. Shoucheng Holdings is the largest external shareholder of SHIMENG and has been deeply involved in the company’s strategic development and capital planning throughout its growth trajectory. As a Hong Kong–listed investment platform under the Shougang Group, Shoucheng Holdings has consistently focused on real-economy investments and asset management. The progression of an investee company into the IPO execution stage signals a transition from value incubation to measurable and realizable returns, carrying clear strategic and financial significance.

From a market perspective, the advancement of an IPO is widely regarded as a key indicator that a “capital realization window” has opened. IPOs represent highly transparent and observable value-realization events, helping convert the intrinsic value of an investment portfolio into tangible financial outcomes. This process may enhance market expectations regarding Shoucheng Holdings’ future earnings visibility and cash-return potential, thereby providing positive support for its overall valuation profile.

According to publicly available data from Investing.com and other sources, analyst consensus on Shoucheng Holdings currently leans toward a “Strong Buy” rating. The consensus 12-month target price stands at approximately HKD 2.67, implying further upside from current trading levels. This reflects institutional investors’ confidence in the company’s improving fundamentals as well as the gradual monetization of its investment portfolio. In parallel, recent Stock Connect data indicate an increase in northbound fund holdings, suggesting growing interest from long-term capital in Shoucheng Holdings’ medium- to long-term investment value.

Against this backdrop, the initiation of SHIMENG’s IPO serves as a clear value-unlocking event within Shoucheng Holdings’ portfolio. It is expected to further strengthen market recognition of the company’s “industrial investment plus capital operations” strategy and enhance its attractiveness to long-term capital allocation.

In addition, Shoucheng Holdings has continued to implement share repurchase programs, signaling management’s confidence in the company’s current valuation and future operating and investment performance. Combined with the IPO progress of SHIMENG, these developments may be interpreted by the market as a positive convergence of valuation recovery and investment realization, providing medium-term support for the company’s share price.