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AWP Services New Zealand Limited t/a Allianz Partners forges a strategic partnership with Mitsui Sumitomo Insurance Company, Limited

AUCKLAND, New Zealand, March 31, 2025 /PRNewswire/ — Allianz Partners New Zealand and Mitsui Sumitomo Insurance Company Limited New Zealand Branch (“MSI NZ”), a member of MS&AD Insurance Group, are excited to announce a multi-year agreement, marking the beginning of a strategic partnership to further enhance and diversify insurance solutions in New Zealand.

This partnership agreement will take effect from 1 April 2025 and will enable Allianz Partners, a world leader in insurance and assistance services, to continue delivering exceptional products and customer service while providing greater scope to diversify our product offering.

Like Allianz Partners, MSI is one of the global leaders in international business, leveraging an extensive global network.  MSI’s strong drive for innovation and expansion aligns well with Allianz’s growth and market diversification strategy. This collaboration will enable Allianz Partners to introduce new, tailored solutions that meet evolving customer needs, while enhancing a joint capability to respond to market trends.

MSI is one of Japan’s largest insurance groups, offering a wide range of insurance products and conducting international business through a network spanning 48 countries and regions. With over 100 years of experience in international business, MSI provides products and services to mitigate a wide variety of global risks.

Kevin Blyth, Managing Director, New Zealand of Allianz Partners said: “Allianz Partners is thrilled to join forces with MSI in this strategic partnership, which represents a significant step forward in our commitment to delivering innovative insurance solutions in New Zealand. MSI’s strong global presence and dedication to innovation align well with our vision, ensuring we continue to meet the evolving needs of our customers.”

David Hall, Head of Distribution for MSI Australia and New Zealand said: “Partnering with a market leader such as Allianz Partners in the New Zealand travel insurance market is very exciting for us. Travel insurance is part of our core growth strategy in the region and we are delighted to have this opportunity to work with Allianz Partners. We also look forward to working with Allianz Partners to identify other opportunities to bring customer focused products to the New Zealand market.

About Allianz Partners

Allianz Partners is a world leader in B2B2C insurance and assistance products and services. Customer-driven, our innovative experts are redefining insurance services by delivering future-ready, high-tech products and solutions that go beyond traditional insurance. Our products are embedded seamlessly into our partners’ businesses, sold through intermediary channels or directly to customers through the Allianz brand. Present in over 75 countries, our 21,900 employees speak 70 languages, handle over 72.5 million cases each year, and are motivated to go the extra mile to our customers worldwide.

Akeso’s 2024 Results: Strengthening Global Competitiveness and Transforming the Treatment Landscape with Bispecific Antibodies

Key Highlights:

  • Global first “immuno + anti-vascular” bispecific antibody approved: ivonescimab for EGFR-TKI resistant nsq-NSCLC. Phase III HARMONi study topline data expected mid-2025 (FDA FTD).
  • ivonescimab outperforms pembrolizumab in Phase III study for first-line PD-L1+ NSCLC: mPFS HR=0.51; sNDA under priority review.
  • Cadonilimab approved for first-line gastric cancer: Fills immunotherapy gap for patients with low or negative PD-L1 expression.
  • Cadonilimab’s sNDA for first-line cervical cancer accepted by NMPA.
  • New commercial milestones: cadonilimab and ivonescimab added to the National Reimbursement Drug List (NRDL).
  • AK117 (CD47) enters Phase III trials: ivonescimab combined with AK117 for first-line HNSCC treatment, compared with pembrolizumab.
  • Cadonilimab and ivonescimab: Over 20 Phase III and 40+ Phase II trials ongoing, covering 40+ indications.
  • “IO+ADC” 2.0 strategy gaining momentum: First self-developed ADC and bispecific ADC enter clinical trials.
  • Non-oncology expansion: ebronucimab (PCSK9) approved, NDAs for ebdarokimab (IL-12/IL-23) and gumokimab (IL-17) under review.
  • 3 drugs approved, 5 new drugs with 5 indications under regulatory review.

HONG KONG, March 31, 2025 /PRNewswire/ — Akeso Inc. (9926.HK) (“Akeso”, “the Company”) released its 2024 annual report, emphasizing the company’s key achievements in drug research, clinical development, and commercialization.

In 2024, Akeso achieved key success in antibody therapy research and development. The approval of new indications for cadonilimab and the launch of first-in-class drugs like ivonescimab expanded the company’s footprint in major solid tumors, including lung and gastric cancers. Akeso continues to challenge current standard of care with head-to-head trials against pembrolizumab and other therapies, while advancing novel treatments such as anti-CD47 monoclonal antibody, antibody drug conjugates (“ADCs”) and bispecific ADCs. The company also achieved major milestones in commercialization and patient access, with products included in national insurance directories. Currently, over 25 registrational and Phase III clinical trials are actively progressing.

On the commercial front, Akeso’s adjustments in drug pricing and optimization of its commercial systems led to new drug sales revenue surpassing RMB 2 billion in 2024, a 25% year-on-year increase. The company continues to reduce operating losses, with an EBITDA loss of 225 million RMB in 2024.

Dr. Xia Yu, Founder, Chairwoman, President, and CEO of Akeso Biopharma:

“We are thrilled to have reached historic milestones in our innovative drug development in 2024. The approval of several globally competitive products and breakthroughs in advanced therapies have strengthened our global competitiveness in biopharmaceutical innovation.

Notably, our first-in-class bispecific antibodies, cadonilimab and ivonescimab, have been approved for commercial sales and included in China’s NRDL. This significantly improves drug accessibility, reduces patient burdens, and fulfills a key strategic goal in our domestic commercialization efforts. In clinical development, cadonilimab and ivonescimab are currently in over 20 registrational/Phase III clinical trials globally, establishing a strong presence in first-line treatments for a wide range of high-incidence cancers. Additionally, more than 40 Phase II trials are ongoing, further strengthening our leadership in global cancer immunotherapy.

We’ve also made key advances in novel therapies, with ligufalimab (anti-CD47 mAb) moving to Phase III for solid tumors, and progress in next-gen ADCs, bispecific ADCs, and autoimmune bispecific antibodies.

These achievements have expanded our oncology pipeline and strengthened our global expansion strategy with a comprehensive ‘IO 2.0+’ combination therapy platform.”

Akeso’s Bispecific Antibody Clinical Portfolio Continues to Expand, Demonstrating Global Leadership in Next-Generation Tumor Immunotherapy

In 2024, Akeso continued to focus and make progress on research and clinical development. The accomplishments from these efforts include :

  • 3 novel drugs approved for market
  • 5 NDAs under review for 5 indications
  • 24 drug candidates in global clinical development
  • Over 25 registrational/Phase III trials actively progressing

Notably, Akeso has focused on redefining global treatment paradigms through the development of breakthrough therapies that provide additional survival and safety benefit to current standard of care. Centered around its internally developed first-in-class bispecific antibodies—cadonilimab (PD-1/CTLA-4) and ivonescimab (PD-1/VEGF)—the company has conducted over 40 clinical trials across a number of indications.

Cadonilimab

After its approval for recurrent/metastatic cervical cancer, cadonilimab reached a major milestone in 2024 with the approval for a new indication in first-line gastric cancer, addressing unmet needs in PD-L1 low/negative populations. The sNDA for first-line cervical cancer is currently under review. Cadonilimab is also currently in 8 Phase III trials and nearly 20 Phase II studies, exploring treatments for major cancers in both first- and later-line settings.

Ivonescimab

In 2024, ivonescimab was approved for the treatment of EGFR-TKI-resistant, locally advanced or metastatic non-squamous non-small cell lung cancer (nsq-NSCLC). A major milestone was reached in May 2024 when the Phase III HARMONi-2 trial, comparing ivonescimab to pembrolizumab in first-line PD-L1-positive NSCLC, showed positive results. Data presented at the 2024 World Conference on Lung Cancer (WCLC) revealed a median Progression-Free Survival (mPFS) of 11.14 months for ivonescimab, compared to 5.82 months for pembrolizumab. This breakthrough highlights ivonescimab’s potential as a key therapy in next-gen immuno-oncology and boosts its global commercialization prospects.

Currently, ivonescimab is in 12 registrational/Phase III clinical trials, including 6 head-to-head studies against PD-1/L1 therapies, as well as in over 20 Phase II trials.

Key Phase III Trials in NSCLC :

  • Ivonescimab monotherapy vs. pembrolizumab as first-line (1L) treatment for PD-L1+ NSCLC
  • Ivonescimab + chemotherapy vs. pembrolizumab + chemotherapy (global multicenter trial) as 1L treatment for NSCLC
  • Ivonescimab + chemotherapy vs. tislelizumab + chemotherapy as 1L treatment for squamous NSCLC (sq-NSCLC)

Phase III Trials in Other Major IO Indications:

  • Ivonescimab + chemotherapy vs. durvalumab + chemotherapy as 1L treatment for biliary tract cancer
  • Ivonescimab + AK117 (CD47 mAb) vs. pembrolizumab as 1L treatment for PD-L1+ head and neck squamous cell carcinoma (HNSCC)
  • Ivonescimab combination as 1L treatment for triple-negative breast cancer (TNBC)
  • Ivonescimab in PD-(L)1-resistant NSCLC, and ivonescimab combination as 1L treatment for pancreatic cancer (preparation/initiation underway)

These trials reflect ivonescimab’s development strategy that is based on a fundamental understanding of tumor immunobiology and designing clinical studies that compares it with standard of care, encompassing both first-line and later-line treatments for high-incidence, high-mortality cancers. This positions Akeso as a key innovator in next-generation cancer immunotherapy, improving and contributing to the global IO cancer treatment landscape.

Breakthrough Bispecifics Enter NRDL, Paving the Way for the Next Stage of Commercial Growth

In 2024, Akeso Biopharma achieved commercial sales of RMB 2 billion, representing a 25% year-over-year growth.

As China’s innovative drug market transforms, clinically innovative medicines face historic development opportunities. Both cadonilimab and ivonescimab, recognized for their innovation and clinical value, were successfully included in the National Reimbursement Drug List (NRDL) during the 2024 negotiations, marking a major milestone in Akeso’s commercial franchise.

The inclusion of both cadonilimab and ivonescimab in the NRDL represents the next stage in Akeso’s market strategy, with a clear focus on hospital-based markets as the core growth area. It greatly improves the therapy accessibility, reduces patient treatment burdens, and evolves the innovative value of the company’s first-in-class bispecific antibodies into tangible social and commercial benefits.

Following the NRDL inclusion, Akeso has made key upgrades to its commercial infrastructure, aligning with its strategic priorities for accelerated growth:

  • Rapid Hospital Access: Prioritizing swift hospital access for cadonilimab and ivonescimab through data-driven tiering of key accounts.
  • Commercial Team Expansion: Enhancing coverage of core hospitals and regional hubs to ensure maximum reach and impact.
  • Scientific Leadership: Strengthening engagement with KOLs and generating real-world evidence to highlight the differentiated efficacy and safety profiles of its bispecifics, driving physician adoption.

These initiatives set the stage for Akeso’s growth in 2025 and beyond, while building a strong foundation for long-term, sustainable commercial growth.

Akeso’s non-oncology portfolio is also advancing with the launch of PCSK9 inhibitor ebronucimab and the potential approvals for assets like ebdarokimab and gumokimab. The company is building a dedicated commercial team to tap into the multi-billion RMB metabolic and autoimmune markets. Akeso’s strong pipeline in non-oncology indications will provide additional drivers for sales growth.

Potential Disclosure of Ivonescimab’s Topline HARMONi Clinical Data Mid-Year

International Expansion of Novel Drug Development Accelerates

Akeso’s global partner on ivonescimab, Summit Therapeutics, is advancing three international multicenter Phase III clinical trials:

  • The HARMONi study, a Phase III clinical trial that evaluates ivonescimab combined with chemotherapy compared to placebo plus chemotherapy in patients with EGFR-mutated, locally advanced or metastatic non-squamous NSCLC who have progressed after treatment with a 3rd generation EGFR TKI (e.g., osimertinib). Summit has announced plans to disclose topline data in mid-2025.
  • Summit expanded the HARMONi-3 study cohort in 2024 to include both squamous NSCLC (sq-NSCLC) and non-squamous NSCLC (nsq-NSCLC), expanding first-line coverage for all NSCLC populations.
  • The HARMONi-7 study, a global Phase III trial comparing ivonescimab monotherapy with pembrolizumab monotherapy as a first-line treatment for PD-L1-high NSCLC, is expected to begin in 2025.

In February 2025, Summit has entered into a clinical collaboration with Pfizer to evaluate ivonescimab in combination with Pfizer’s antibody-drug conjugates (ADCs) across solid tumors. Pfizer will be responsible for conducting the operations of the studies. The studies will be overseen by both Summit and Pfizer. Both parties retain their respective rights to their products. Akeso is responsible for the production of ivonescimab used in the clinical trial conducted globally.

Beyond bispecific antibodies

Akeso is advancing a pipeline of promising candidates beyond bispecific antibodies. The company’s first self-developed ADC, AK138D1, with the first patient enrolled in Australia for Phase I. Clinical trials for the Company’s first bispecific ADC have also begun. Additionally, the IND application for AK139, the first IL-4Rα/ST2-targeting bispecific, has been accepted.

Ligufalimab (CD47 mAb), considered a key target in immuno-oncology, advanced to Phase III in 2024. A randomized, double-blind, controlled Phase III trial (vs. pembrolizumab) is ongoing for first-line PD-L1(+) head and neck squamous cell carcinoma (HNSCC), making ligufalimab the first CD47 mAb to reach Phase III for solid tumors. A global Phase II trial combining ligufalimab with azacitidine for first-line myelodysplastic syndromes (MDS) is actively progressing across multiple countries, including the U.S.

In parallel with the accelerated global expansion of its novel drug development, Akeso’s therapies and clinical studies have also received recognition in top-tier academic journals and conferences. In 2024, the company revealed nearly 80 groundbreaking research findings in prestigious journals and academic conferences, including JAMA, Nature Medicine, and The Lancet.

About Akeso

Akeso (HKEX: 9926.HK) is a leading biopharmaceutical company committed to the research, development, manufacturing and commercialization of the world’s first or best-in-class innovative biological medicines. Founded in 2012, the company has created a unique integrated R&D innovation system with the comprehensive end-to-end drug development platform (ACE Platform) and bi-specific antibody drug development technology (Tetrabody) as the core, a GMP-compliant manufacturing system and a commercialization system with an advanced operation mode, and has gradually developed into a globally competitive biopharmaceutical company focused on innovative solutions. With fully integrated multi-functional platform, Akeso is internally working on a robust pipeline of over 50 innovative assets in the fields of cancer, autoimmune disease, inflammation, metabolic disease and other major diseases. Among them, 24 candidates have entered clinical trials (including 15 bispecific/multispecific antibodies and bispecific ADCs. Additionally, 6 new drugs are commercially available, and 5 new drugs with 5 new indications are under regulatory review for approval. Through efficient and breakthrough R&D innovation, Akeso always integrates superior global resources, develops the first-in-class and best-in-class new drugs, provides affordable therapeutic antibodies for patients worldwide, and continuously creates more commercial and social values to become a global leading biopharmaceutical enterprise.

For more information, please visit https://www.akesobio.com/en/about-us/corporate-profile/ and follow us on Linkedin.

Global Times: Practitioners’ Insights: Practice of ‘feedback window for unfinished work’ in Anji showcases CPC’s people-centric approach

BEIJING, March 31, 2025 /PRNewswire/ — Government service halls across many regions in China have established dedicated feedback windows for handling unfinished work. What is such window? Out of the curiosity, the Global Times recently visited the government service center in Anji county, East China’s Zhejiang Province.

Li Yunbiao, a member of the Communist Party of China (CPC), cut a professional figure in his crisp white shirt and neatly groomed hair. With a warm smile and energetic demeanor, he was standing behind a sign prominently displaying “Feedback Window for Unfinished Work.”

With a decade of experience in service positions, he is affectionately known by everyone as “Master Li,” a skilled problem-solver.

“This window specializes in resolving complex public service issues that couldn’t be addressed through regular channels. It serves as the last stop to catch and solve citizens’ unfinished work,” Li told the Global Times. “Our responsibility is to ensure that, within the bounds of compliance, people can run fewer errands and get things done sooner. That’s where our real value lies.”

“Our Party’s mission is to serve the people.” In the chapter of “Always Put the People First” of the fourth volume of the book Xi Jinping: The Governance of China, Xi, general secretary of the CPC Central Committee, states that “the people’s concerns are my concerns, and the people’s expectations are my goals.”

If the Party has a sound style of work, then the people are at peace and willing to stand with the Party in both success and adversity. The Communist Party of China has launched a Party-wide education campaign to implement its central leadership’s Eight Rules on improving work conduct, spanning from the conclusion of this year’s national two sessions through July.

This Party-wide initiative serves as both a theoretical re-education and ideological re-equipment for the Party members and officials, as well as a disciplinary re-inspection and conduct refinement.

The capacity to effectively serve the people directly reflects the Party conduct and determines the level of public support it commands. “When ordinary people judge the construction of Party conduct, they don’t primarily look at how many meetings were held, how many speeches were given, or how many documents were issued, but at what problems were solved. ‘When spring has warmed the stream, ducks are the first to know’ – whether there’s been a change, the people feel it most deeply.”

From being “unable to get things done” to “getting them done well,” from “resolving one issue” to “addressing them systematically,” such changes in the Party conduct and governance are increasingly taking place in Anji, in Zhejiang, and across China.

From ‘failure’ to ‘excellence’

Let people feel that we can get things done, and that we do so earnestly. Only then can we win the trust of the people and the entire Party. The remarks from Xi, made in a meeting in September 2013 in North China’s Hebei Province, have become a driving force for staff members at the “feedback window for unfinished work” at Anji’s government service center, including Li.

During a break, Li shared his work log with the Global Times reporter, on which the Excel spreadsheet documented information of thousands of enterprise and individual service cases with Li’s meticulous annotations: “Zhejiang XX Biomedical Technology Company (XX for anonymity) – Lots of failed insurance enrollment attempts by the company. Reflected to my window. Resolved successfully.” “Pending follow-up: Chen XX – Land acquisition quota eligible for retroactive payment before document issuance, but with interrupted insurance records. Can this be settled in one lump sum?”

“This window serves as the fallback position for our residents. No matter how tedious the process or complex the situation, my colleagues and I will work together to help people get things settled,” Li said.

In the article “Self-reform: The second answer to breaking the cycle of rise and fall” in the fourth volume of the book, Xi points out, “…we must remain firm and clearheaded: For whom do we govern, for whom do we exercise power, and for whom do we seek benefit?”

Regarding the CPC Central Committee’s Eight Rules, Xi has delivered resolute statements: The Eight Rules are not a five- or 10-year rules, but a permanent commitment that must be adhered to on a long-term basis; The formulation and implementation of the Eight Rules represent the Party’s foundational act of building credibility in the new era. It demands persistent and sustained efforts if a decade proves insufficient, we extend to two; if two fall short, we persist for three until its principles become ingrained social norms, with exemplary Party conduct guiding public ethos and social conduct.

Li deeply relates to this. “Over the years, the Party has demanded us to firmly say ‘no’ to the ‘Four Malfeasances of favoring form over substance, bureaucratism, hedonism, and extravagance’ in service, turning the implementation of the spirit of Eight Rules into conscious action. This involves continuously simplifying procedures, enhancing capabilities, improving service attitudes, and finding every possible way to better serve the people. These aren’t just words – they’re real actions,” Li said.

The establishment of the “feedback window for unfinished work” at Anji government service center was stemmed from addressing pain points in government services.

According to Ding Zejun, head of the government management department at the center, in the past, the local “12345” service hotline frequently received complaints from businesses and residents. These complaints arose from issues like incomplete or inaccurate materials, or conditions that didn’t meet legal requirements, resulting in matters that couldn’t be processed at the service center, with a lengthy complaint process.

To address the public’s struggles with “running back and forth” and “asking multiple parties,” the “feedback window for unfinished work” moves the problem-solving process forward, allowing most people to resolve complex matters on-site, Ding added.

Apart from providing consultation for those unclear on policies, and offering provisional acceptance within legal frameworks for those missing materials, a key role of the window is to coordinate and facilitate collaboration across multiple departments, Ding told the Global Times.

Li still vividly recalls a recent scene where people once shouted in frustration at his feedback window: “What on earth we should do?”

In early 2024, Xu Jia, the pension coordinator of a former state-owned coal mining enterprise and the company’s Party branch secretary in Anji, sat across from Li with furrowed brows. Since the company hadn’t registered in Anji years before and lacked a business license and a tax ID, more than 20 previous employees at the company eligible for pensions were stuck in the “tax ID” field during their applications. After weeks of fruitless efforts, they went to the window as a last resort.

Faced with this decades-old historical issue, Li knew that this was related to the livelihood of more than 20 families. After thinking for a moment, Li sprang into action. First, he contacted an engineer for Anji’s online government service platform, asking the later whether he could create a virtual tax ID for the unregistered enterprise.

Next, Li and the engineer each submitted reports to their respective regulatory authorities. With approval secured, the service center documented the situation and relayed it to the online platform. By that afternoon, the platform had acted on Li’s proposal, generating a virtual tax ID to resolve the pension application deadlock.

“In the past, many ‘unresolved cases’ might have been closed by rigidly following regulations,” Li said. “But now, we can’t just make a procedural yes-or-no judgment on whether something can be done we also have to consider whether it should be done. Some of these ‘unresolved’ cases could actually be resolved if service staff take the initiative and act with flexibility.”

From ‘solving one issue” to “systemic solution’

Since its establishment, the “feedback window for unfinished work” in Anji has resolved over 500 matters that were previously considered unresolvable. According to Ding, there is a steady decline in both inquiries and case submissions to the window.

Ding added that now, the window has established a precise and efficient “three-level response” mechanism. When businesses or residents report issues to the window, the window staff first record and categorize the problem in detail: For simple matters, an “immediate handling upon receipt” model is applied, with the window staff directly coordinating with responsible departments for on-site resolution; for complex issues involving multiple departments, a cross-departmental joint meeting mechanism is activated within an hour, formulating solutions through “on-site diagnosis,” ensuring a preliminary response within half a day and completing the matter’s resolution within three business days.

In the hearts of many Anji residents, this window has become a “master key” for solving problems: “No matter how tricky the issue is, it’s no big deal once it reaches the ‘feedback window for unfinished work.'”

The Anji government service center has established a follow-up mechanism. Currently, the feedback rate for resolved cases is around 90 percent, though some residents have given “basically satisfied” or “unsatisfied” ratings.

“Some people aren’t dissatisfied with the handling process, but rather with certain clauses in current policies,” Ding said frankly. “Diverse public needs sometimes inevitably outpace existing regulations.”

Ding said that, in response to policy bottlenecks identified in follow-ups, Anji is gradually improving an “appeal-suggestion-reform” conversion mechanism, sorting out policy optimization suggestions, and submitting special reports to provincial authorities through relevant departments.

From ‘relieving worries’ to ‘warming hearts’

When the Global Times reporter spoke with some residents at the Anji government service center hall, while many praised the current convenience, they also shared inconveniences from years past: Handling one matter required visiting lots of departments, while information wasn’t shared between departments, forcing them to repeat their situations over the phone again and again.

“A service widow may be small, it’s a direct channel for the public to observe and evaluate the Party and government: Are they truly serving the people with heart ? Or are they just perfunctory and formalistic? The people have their own weight in mind,” Ding said.

At service windows, apart from resolving issues for the public, a warm, professional, and patient attitude is also key to improving work conduct. At every meeting, Li emphasizes to the younger staffers the importance of maintaining a proper work attitude – not just to avoid assessments or complaints, but to genuinely keep the people sitting in front in mind. “When they speak, look up at them; when listening, be patient and polite; think about what more we can do for them.”

As stated in the article “Make further progress in Party self-governance” of the fourth volume of Xi Jinping: The Governance of China, “The Eight Rules must be reinforced to correct the Four Malfeasances of favoring form over substance, bureaucratism, hedonism, and extravagance, and foster healthy and positive practices. Favoring form over substance and bureaucratism are the archenemies of the healthy growth of our Party and the state.”

Changing work conduct doesn’t happen overnight; it’s built on countless moments of self-improvement. “Our service windows don’t have a glass partition – I face the residents directly every day,” said Wang Ninglin, a staff member who has worked at the center for nearly five years. “Looking at them, I sometimes can’t help but think: If my own parents or family members were sitting here, would I bear to let them struggle to apply for a pension, be brushed off or ignored, or even leave empty-handed?”

“When I put myself in their shoes, I naturally know how to improve in my work,” added Wang, who is also a “apprentice” if Li.

Apart from Anji, similar service systems have been built across the country to better serve the people, such as in Beijing, Shanghai and East China’s Jiangsu Province. As the Eight Rules drive all aspects of Party building, and as Party members and officials transform their work conduct, local practices in modernizing governance systems and capabilities are blooming fast. The posts they hold are fertile ground for the Eight Rules to take root and flourish, and they serve as a coordinate system for Party members and officials to practice their original mission in the new era.

While learning from her “master” Li at the “feedback window for unfinished work” Wang has turned down gift cigarettes, alcohol, and even milk tea offered as thanks by grateful residents after resolving their issues. Yet she is delighted to see their written messages in the Anji government service center’s guestbook, which comment the window’s services.

At the center, the Global Times reporter flipped through the guestbook, and saw one comment: “Patient, professional, enthusiastic! Responsible in handling matters, detailed in explanations, thumbs up to you!”

https://www.globaltimes.cn/page/202503/1331192.shtml

Fosun International Announces 2024 Annual Results: Total Revenue Reaches RMB192.14 Billion, Industrial Operation Profit Amounts to RMB4.9 Billion, Overall Operational Fundamentals Remain Stable

2024 Annual Results Highlights:

  • Total revenue reached RMB192.14 billion;
  • Industrial operation profit amounted to RMB4.9 billion;
  • Total revenue generated by the four core subsidiaries amounted to RMB134.65 billion, accounting for 70.1% of the Group’s total revenue;
  • Total debt to total capital ratio was 52%; cash, bank balance and term deposits amounted to RMB106.34 billion;
  • The proportion of overseas revenue rose to 49.3%, representing a year-on-year increase of 6.2%;
  • Investment in technology innovation reached approximately RMB6.9 billion.

HONG KONG, March 30, 2025 /PRNewswire/ — Fosun International Limited (HKEX stock code: 00656, “Fosun International”), together with its subsidiaries (“Fosun” or the “Group”), today announced its annual results for the year ended 31 December 2024 (the “Reporting Period”).

In 2024, Fosun pressed ahead with its strategy of “business streamlining and advancements and exits”, while deepening its focus on the household consumption sector in the face of global economic fluctuations and market challenges. By leveraging globalization, innovation, and asset-light operations, the Group advanced the development of its core industries, resulting in stable overall operational fundamentals. During the Reporting Period, the Group’s total revenue reached RMB192.14 billion. Its four core subsidiaries – Yuyuan, Fosun Pharma, Fosun Insurance Portugal, and Fosun Tourism Group (“FTG”) – generated a total revenue of RMB134.65 billion, accounting for 70.1% of the Group’s total revenue, supported by a solid asset base.

During the Reporting Period, the Group’s industrial operation profit reached RMB4.9 billion, demonstrating stable operational fundamentals. The Group’s loss attributable to owners of the parent amounted to RMB4.35 billion, mainly due to a one-off non-cash loss during the Reporting Period. Excluding this significant one-off effect, the profit attributable to owners of the parent amounted to RMB0.75 billion, mainly due to profit decrease of some core enterprises compared to the same period of 2023.

In 2024, Fosun’s operating cash flow remained healthy and stable. The Group consistently optimized its asset portfolio. The signed asset divestment amounted to approximately RMB17.5 billion equivalent at the group level, and approximately RMB30.0 billion equivalent at the consolidated level, thereby further optimizing the balance sheet and building up liquidity buffer. As at the end of the Reporting Period, the Group’s total debt to total capital ratio was 52.0%, cash and bank balance and term deposits amounted to RMB106.34 billion. Healthy debt ratios and abundant funds can strengthen the Group’s resilience against external risks while enhancing its ability to capture investment opportunities.

In November 2024, after an absence of three years, Fosun returned to the offshore USD bond market and successfully issued long duration USD bonds, substantially expanding its offshore financing options. In terms of bank financing, Fosun refinanced its three-year unsecured syndicated loan with upsize from matured loan, achieving the successful launch of offshore syndicated loans for 8 consecutive years. Fosun High Technology issued several super short-term commercial papers, raising a total of RMB5.1 billion. In June 2024, the international credit rating agency S&P fully recognized the Group’s steady improvement in credit matrix, and reaffirmed the BB- rating and a stable credit outlook.

Guo Guangchang, Chairman of Fosun International, stated, “We believe that the clear strategic focus and robust industrial operational capabilities are the key to driving Fosun’s long-term steady development. Looking ahead, we will further deepen our focus on core industries. By leveraging our globalization and innovation capabilities, we believe that we can create long-term, stable value for our shareholders, even in a challenging environment.”

Demonstrating ongoing success in globalization efforts

As a global innovation-driven consumer group rooted in China, Fosun has continued to deepen its industrial presence in over 35 countries and regions, consolidating its global operational capabilities. In 2024, the Group’s overseas revenue grew 6.2% year-on-year, increasing the proportion of overseas revenue to 49.3% of total revenue. High-quality global operations have become a new growth engine for Fosun.

Benefiting from the forward-looking internationalization strategy, Henlius achieved overseas product sales revenue of RMB121 million in 2024, representing a substantial increase of 30.76% over the same period last year. Among them, HANSIZHUANG was approved for marketing in the European Union; HANQUYOU was approved for marketing in the U.S. and Canada, embarking on a new journey of commercialization in North America; HANLIKANG, the first biosimilar approved in China, was approved for marketing in Peru, Nicaragua and Bolivia; HANBEITAI was approved for marketing in Bolivia. Henlius now has four self-developed and self-manufactured products approved for overseas marketing, demonstrating ongoing success in its globalization efforts.

In 2024, Fosun Insurance Portugal maintained its high-quality and sustainable development, achieving growth in both domestic and international businesses with total gross written premiums reaching approximately EUR6,172 million. Both the combined ratio and revenue from the insurance business outperformed those of the same period in 2023. In addition, Fosun Insurance Portugal’s overseas revenue reached EUR1.84 billion, fully demonstrating Fosun’s capabilities of “global organization + local operations”. Through overseas expansion, the proportion of international business increased from less than 5% in 2014 to 29.8%.

In May 2024, Fosun entered into an agreement with ABN AMRO Bank N.V. to sell 100% of its equity interest in HAL, a leading private bank in Germany. Meanwhile, the Group will retain all the shares of Hauck & Aufhäuser Fund Services S.A. (“HAFS”) indirectly held by HAL. HAFS plans to further expand its fund administration functions and create synergies with Fosun’s operations in the financial insurance sector in Europe. Since the initial investment in HAL in 2016, through continuous strengthening of industrial operations and ecosystem synergies, Fosun achieved an internal rate of return of nearly 14% on this investment up to the disposal.

In the resources and energy business, Hainan Mining has continued its international expansion, expanding its oil and gas business, enriching its strategic metal reserves, and broadening its profit channels. During the Reporting Period, the company completed the acquisition of oil interests in four oil blocks in Oman and proposed to acquire zirconium-titanium mine projects in Mozambique. As of March 2025, Phase I of the Bougouni lithium mine in Mali, Africa has achieved the conditions for continuous and stable production.

In the cultural business, following the successful overseas debut in Paris, France in 2023, the Yuyuan Garden Lantern Festival has embarked on another overseas journey in 2025. In January 2025, the Yuyuan Garden Lantern Festival themed lantern installation made a stunning appearance in Hanoi, Vietnam, commemorating the 75th anniversary of the establishment of diplomatic relations between China and Vietnam. This year, it will also be featured in Thailand, continuing to showcase the charm of oriental culture globally.

Leveraging technology innovation to enhance product strength

Fosun regards technology innovation as a core strategic pillar and has established a global innovation system integrating “independent research and development (‘R&D’) + investment incubation + ecosystem collaboration”. During the Reporting Period, the Group’s investment in technology innovation amounted to approximately RMB6.9 billion. It has established more than 20 global technology innovation centers, covering various industries and fields, continuously fostering the launch of new technologies and products.

In terms of R&D of innovative drugs, a total of 16 indications of 7 innovative drugs/ biosimilars independently developed or licensed-in by Fosun Pharma were approved for launch, including: Rabies vaccine (Vero cell) for human use (freeze dried) was approved for launch in Chinese mainland; and Trastuzumab for injection was approved for launch in the United States and Canada. As one of the first Hong Kong-listed “18A” first-in-class pharmaceutical companies which turned to profit through product sales, Henlius successfully achieved sustained profitability in 2024 with a net profit of RMB820 million, representing a year-on-year increase of 50.3%.

In terms of medical devices and medical diagnosis, the Ion Robotic Bronchoscopy navigation operation control system (“Ion System”) of Intuitive Fosun was approved by the National Medical Products Administration of the PRC; F-i6000 Automated Chemiluminescence Immunoassay Analyzer, F-C2000 Fully Automated High-Speed Chemiluminescence Analyzer, and Cytokine Detection Reagent (Chemiluminescence Method), which were independently developed by Fosun Pharma, were all approved for launch in Chinese mainland.

Yuyuan has leveraged technology to empower traditional culture. This year’s Yuyuan Garden Lantern Festival themed “Adventure of Mountain and Seas: The Jungle Chapter” leveraged VR technology to create the first immersive light and shadow exhibition featuring diverse landscapes inspired by “The Classic of Mountains and Seas” in China. It integrated AR live streaming, allowing tens of millions of viewers to participate in the exhibition online. Building on 30 years of experience, it showcased the transformation and upgrading of the traditional Spring Festival lantern festival into a modern urban cultural IP.

Fosun Insurance Portugal has continued to build on its digital capabilities to drive the rapid growth of the insurance business. During the Reporting Period, the total number of digital users of Fosun Insurance Portugal exceeded 1.9 million, accounting for nearly 20% of Portugal’s total population.

Fosun is committed to deeply integrating AI technology into its diverse scenarios to drive innovation and enhance efficiency. For instance, Fosun Pharma launched the PharmAID decision intelligence platform, which integrates information extraction, patent insights, business forecasting, and more. With data updated at T+1, it supports accurate and efficient decision-making to accelerate and improve drug R&D. In addition, Sisram Medical is exploring the use of AI for precise skin analysis and personalized skin care solutions, etc.

Focusing on core businesses with strategic advancements and exits, continuously amplifying the “flywheel effect”

Fosun has continuously advanced its “business streamlining, and advancements and exits” strategy. While divesting some non-core assets, it has also focused on the development of core businesses to achieve “balanced investment and divestment”.

In 2024, Fosun Pharma increased its stake in Fosun Kairos to 100% to vigorously promote the R&D, manufacturing and commercialization of CAR-T cell therapy. In October 2024, the ULTRAMED Hainan project in Sanya was officially launched. It is set to create the world’s first AI-themed resort by utilizing AIGC technology for guest room customization and introducing the digital human G.O (Gentle Organizer) service to enhance tourist experience. In addition, FTG’s Taicang Alps Resort Phase II project has been launched, funded by the Taicang Municipal Government with RMB5.0 billion, and managed by FTG. It also signed a asset-light operation agreement for the Jinsha Bay project in Dapeng New District, Shenzhen, marking the launch of the first Club Med in the Greater Bay Area.

To achieve more effective resource allocation and drive sustainable value growth, Fosun has integrated its profound industry expertise, extensive investment experience, and high-quality commercial resources with the operations and investments of insurance companies, forming a three-dimensional “insurance + industry + investment” flywheel-driven strategy.

Fosun’s unique ecosystem synergy model has further amplified the flywheel effect. In 2024, it successfully implemented the “health care + insurance” ecosystem policy model, with 14,000 community health care policies sold, totaling premiums of RMB12.85 billion. Fosun Care achieved profitability for the first time, laying a solid foundation for flywheel development.

As part of its strategic direction, Fosun made significant progress in asset-light operations in 2024. Fosun Pharma, together with the Shenzhen Guidance Fund and other investors, established a RMB5.0 billion biopharmaceutical industry fund to jointly promote the high-quality development of the pharmaceutical and healthcare industry in the Greater Bay Area, marking a significant milestone in the implementation of Fosun’s asset-light strategy.

Focusing on “Developing Business for Good”

In 2024, Fosun centered on its corporate values of “Self-improvement, Teamwork, Performance, and Contribution to Society” to promote the deep integration of the ESG strategy and commercial value. It continuously contributed to global sustainable development through responsible investment, low-carbon transformation, and social initiatives.

In addition, Fosun launched the “Create IMPACT” sustainable development strategy in 2024 to closely integrate commercial value with social value. Fosun’s “Rural Doctors Program” was included in the “20 Cases of Private Sector’s Sustainable Development in China for 20 Years” Report of the United Nations Global Compact. As at the end of 2024, the program had covered 78 counties in 16 provinces, municipalities and autonomous regions (including 21 key counties for national rural revitalization), assisted 15,000 administrative village clinics, supported 25,000 rural doctors, and benefited 16.34 million rural people in 3 million rural families.

In terms of global public health cooperation, Fosun has actively participated in the “China-Africa Community Sustainability Action Network”, contributing to the health development of African communities. Fosun Pharma has consistently contributed to the “China Solution”, and announced that it would donate RMB10 million worth of artemisinin-based anti-malaria medicines to Africa in the next three years. As at the end of 2024, artesunate for injection independently developed by Fosun Pharma had been used to treat more than 80 million patients with severe malaria worldwide. Additionally, the company had supplied a cumulative total of over 400 million doses of artesunate for injection globally.

During the Reporting Period, Fosun International maintained an MSCI ESG rating of AA, achieved an HSI ESG rating of AA-, ranked in the top 5% among global peers in S&P Global’s Corporate Sustainability Assessment (CSA), and was selected as the top 1% in S&P Global’s Sustainability Yearbook 2024 (China Edition) for its outstanding performance.

Guo Guangchang, Chairman of Fosun International, said that Fosun is well-prepared to tackle challenges and pursue progress through “strategic advancements and exits”, while continuing to deepen development in core industries. Looking ahead, the Group is confident in its ability to maintain steady development.

PetroChina Posts Sustained Growth in 2024, Achieving Third Consecutive Year of Record-Breaking Performance

BEIJING, March 30, 2025 /PRNewswire/ — PetroChina Company Limited [“PetroChina” or the “Company”, (HKSE: 00857, SSE: 601857)] announced that the Company proactively responded to the evolving landscape, boosted oil and gas exploration and development, further propelled the transition and upgrading of refining and chemical operations. While continuously improving the quality of marketing, the Company prioritized quality and profitability enhancement, steadily promoted the green and low-carbon transition, actively engaged in emerging industries, continuously improved ESG performance, and strengthened the profitability of two major industry chains of oil and gas. Despite the realized oil price dropped by 2.5% year-on-year, the Company maintained growth in its operating performance, achieving new record highs for three consecutive years.

In accordance with IFRS, the Company recorded a revenue of RMB 2.9 trillion in the full year of 2024. Net profit attributable to equity holders of the Company reached RMB 164.68 billion, up 2.0% year-on-year. With continuous optimization of its asset-liability structure, the Company retained a robust financial position. The Company generated free cash flow of RMB 104.35 billion, exceeding RMB 100 billion for three consecutive years. In return for the shareholders, the Board recommends a final cash dividend of RMB 0.25 (inclusive of applicable tax) per share for 2024. Total annual dividend is RMB 0.47 (inclusive of applicable tax) per share, representing a payout ratio of 52.2%. The total amount of cash dividend reaches approximately RMB 86.02 billion. Both the final and full-year dividend per share reach the highest levels in history for the same period.

Results Review

Significant progress in boosting oil and gas reserves and production, with sustained increase in oil and gas output. The Company adhered to efficient exploration to enhance economically recoverable reserves and the reserve replacement ratio. It achieved major breakthroughs and significant discoveries in the Tarim Basin, Sichuan Basin, Junggar Basin, Ordos Basin, and Songliao Basin. Adhering to cost-effective development, the Company systematically advanced the construction of capacity-building projects, including Bayan and Sulige, ensuring profitable capacity-building in new fields, efficient and stable production in mature fields, and output growth through precision management. The Company also intensified efforts in large-scale and efficient development of unconventional oil and gas resources. As a result, crude oil output has increased steadily, natural gas production has maintained rapid growth, with the share of natural gas in total oil and gas output continuing to rise. The Company continued to drive the high-quality development of its overseas oil and gas business, actively acquiring premium new projects, optimizing the operation of existing production projects, and enhancing the concentration of overseas oil and gas assets and investment returns. In 2024, the Company’s oil and gas output reached 243.7 million tons in oil equivalent terms, representing a year-on-year increase of 2.2%. Domestic oil and natural gas output increased by 2.5% year-on-year to 217.0 million tons, within which domestic crude oil output edged up 0.4% year-on-year to 105.2 million tons, and marketable natural gas output grew by 4.6% year-on-year to 140.36 billion cubic meters. The Company pooled its strengths to accelerate the development of new energies business. In 2024, wind and solar power generation reached 4.72 billion kilowatt-hours, with an increase in installed capacity totaling 4.95 million kilowatts. Additionally, newly-signed geothermal heating contracts area reached 75.12 million square meters. The oil, gas, and new energies business achieved an operating profit of RMB 159.75 billion.

Accelerated transformation and upgrading of refining and chemicals, with new materials production reaching new record highs. The Company adhered to green and intelligent development, adopting a market-oriented and profitability-centered approach to optimize facility utilization and product mix. By vigorously reducing the production of fuels and increasing chemicals and specialty products, the Company continuously increased the output of high value-added products while actively moving to mid-to-high-end of the “Refining, Chemicals, Bio-manufacturing, Fine Chemicals,  New Materials” industrial chain. Key transformation and upgrading projects, including Jilin Petrochemical and Guangxi Petrochemical, progressed steadily, while the high-end polyolefin project of Blue Ocean New Materials was officially launched. The Company expanded sales of specialty refined products, securing the largest market share in China for bonded marine fuel, paraffin wax, low-sulfur petroleum coke, and specialty asphalt. The Company strengthened chemical market analysis and forecasting, enhanced marketing capabilities, and achieved a substantial increase in chemical product sales. In 2024, the Company processed 190 million tons of crude. The output of refined petroleum products reached 120 million tons. The commodity volume of chemical products amounted to 38.98 million tons, an increase of 13.6% year-on-year, and the output of new materials surged by 49.3% year-on-year to 2.05 million tons. The refining, chemicals and new materials business generated an operating profit of RMB 21.39 billion.

Marketing capabilities were continuously strengthened, with the network layout further optimized. The Company actively responded to market demand fluctuations, strengthened production-sales coordination, and optimized marketing strategies to fully leverage the initiative and creativity of sales networks, ensuring a stable market share. The Company also enhanced international trading operations and profitability capacity, continuously improving the profitability of the industrial chain. By promptly grasping market dynamics, the Company flexibly allocated resources and expanded automotive LNG sales. Additionally, the Company intensified marketing efforts for non-oil business, resulting in steady growth in the gross profit of non-oil business. The Company continued to improve its network, and strengthen the development of integrated energy service stations and charging infrastructure, continuously optimizing the customer-focused comprehensive energy replenishment network. In 2024, the Company sold 160 million tons of gasoline, kerosene, and diesel. Domestic sales volume of gasoline, kerosene and diesel amounted to 120 million tons. The marketing business achieved an operating profit of RMB 16.49 billion.

Significant growth in natural gas marketing with enhanced efficiency and profitability, with sales volume hitting a historic high. The Company ensured a balanced allocation of domestic and imported resources, and comprehensively coordinated injection and withdrawal of gas storage facilities with LNG spot procurement, striving to reduce costs for the natural gas resource portfolio. The Company continued to optimize the market layout and marketing strategies of its natural gas business, boosted efforts in developing direct-sales, end-user markets, and high-end, lucrative markets, and worked to grow the gas power generation business, further improving its marketing quality and profitability. In 2024, the Company sold 287.75 billion cubic meters of natural gas, increased by 5.2% year-on-year. Domestic natural gas sales reached 227.83 billion cubic meters, representing a year-on-year growth of 3.7%. The natural gas marketing business generated an operating profit of RMB 54.01 billion.

Outlook

Looking ahead to 2025, the Company will uphold the general principle of pursuing progress while ensuring stability, and adhere to the five development strategies of Innovation, Resources, Market, Internationalization, and Green & Low-carbon development. The Company will proactively respond to market changes, leverage core competencies, continuously optimize production and operation, develop new quality productive forces in light of local conditions, accelerate the development of new businesses including new energies and new materials. It will continuously enhance the resilience and profit-generating capabilities of industrial and supply chains, strengthen capabilities in risk response, sustainable development and value creation, strive to achieve effective improvement of the quality and reasonable growth of the quantity, delivering enhanced development outcomes to reward shareholders and society.

Additional information on PetroChina is available at the Company’s website: http://www.petrochina.com.cn

Media contact:
Matthew Li, petrochina.list@everbloom.com.cn  

Fosun International Reports Total Revenue of RMB 192.14 Billion and Industrial Operation Profit of RMB 4.9 Billion in 2024

HONG KONG, March 30, 2025 /PRNewswire/ — On 30 March 2025, Fosun International Limited (HKEX stock code: 00656) announced its annual results for the year 2024. During the period, the Group’s total revenue reached RMB192.14 billion. Its four core subsidiaries – Yuyuan, Fosun Pharma, Fosun Insurance Portugal, and Fosun Tourism Group – generated a total revenue of RMB134.65 billion, accounting for 70.1% of the Group’s total revenue, supported by a solid asset base.

In 2024, the Group’s industrial operation profit reached RMB4.9 billion, demonstrating stable operational fundamentals. Excluding this one-off significant effect, the profit attributable to owners of the parent amounted to RMB0.75 billion.

During the period, the Group’s overseas revenue grew 6.2% year-on-year, increasing the proportion of overseas revenue to 49.3% of total revenue. Global operations have become a new growth engine for Fosun. The Group’s investment in technology innovation amounted to around RMB6.9 billion. It has established more than 20 global technology innovation centers, covering various industries and fields.

In 2024, Fosun’s operating cash flow remained healthy and stable. The signed asset divestment amounted to approximately RMB17.5 billion equivalent at the group level, and approximately RMB30.0 billion equivalent at the consolidated level. In November 2024, after an absence of three years, Fosun returned to the offshore USD bond market and successfully issued long duration USD bonds. The international credit rating agency S&P fully recognized the Group’s steady improvement in credit matrix, and reaffirmed the BB- rating and a stable credit outlook.  

Brii Bio Unveils New Data from Its Ongoing Phase 2 ENSURE Study at APASL 2025, Showcasing BRII-179’s Unique Potential to Prime and Boost Higher HBsAg Loss Through Target Patient Identification

  • Preliminary data from Cohort 4 of the ENSURE study supports a novel enrichment strategy to utilize BRII-179 to identify patients who are immune responders and have the potential to achieve higher HBsAg loss at EOT
  • 48-week EOT data from Cohort 1-3 of the ENSURE study clearly suggests the added benefits of elebsiran towards achieving a higher rate of HBsAg loss in combination with PEG-IFNα

DURHAM, N.C. and BEIJING, China, March 30, 2025 /PRNewswire/ — Brii Biosciences Limited (“Brii Bio,” or the “Company”, stock code: 2137.HK), a biotechnology company developing therapies to improve patient health and choice across diseases with high unmet medical needs, announced new data from its ongoing Phase 2 ENSURE study as a late-breaking oral presentation at the 34th Annual Meeting of Asian Pacific Association for the Study of the Liver (APASL 2025) in Beijing, China.

ENSURE (NCT05970289) is a multicenter, open-label Phase 2 study. Cohorts 1-3 were designed to evaluate the contribution of elebsiran, an investigational small interfering ribonucleic acid (siRNA), in combination with pegylated interferon alpha (PEG-IFNα) in participants with chronic HBV infection with baseline hepatitis B surface antigen (HBsAg) of 100-3,000 IU/mL. Participants who completed 9 doses of BRII-179, a recombinant protein-based therapeutic vaccine, in combination with elebsiran (BRII-835) in a previous APAC study BRII-179-835-001 (NCT04749368) were enrolled to Cohort 4 of this study and received elebsiran and PEG-IFNα combination treatment. The design of Cohort 4 as part of this study was based on insight from previous studies that a significant proportion of the chronic HBV patients fail to generate a sufficient immune response after receiving multiple doses of BRII-179, and therefore unlikely to have the immune support to achieve sustainable functional cure.

Emerging data from Cohort 4 showed that participants who previously had BRII-179 induced anti-HBs response achieved a substantially higher rate of HBsAg seroclearance than those who did not. At Week 24, more than half of the BRII-179 responders (55.6% [10/18]) achieved HBsAg seroclearance, compared to only 10.0% (1/10) in non-responders. These latest data suggest that BRII-179 can serve as a predictive tool for enriching patients more likely to respond to curative therapies.

Additional data from Cohorts 1-3 of the ENSURE study showed that higher end of treatment (EOT) HBsAg loss and seroconversion rates in participants receiving elebsiran in combination with PEG-IFNα than those receiving PEG-IFNα alone.  

“The positive Cohort 4 data from the ENSURE study opens new doors for HBV functional cure,” said Dr. Grace Lai-Hung Wong, Professor of Gastroenterology and Hepatology at CUHK Medical Data Analytics Centre (MDAC) and Department of Medicine and Therapeutics in Hong Kong SAR, China. “Previous studies have suggested that BRII-179 may offer a unique opportunity to identify CHB patients who are able to elicit the necessary HBsAg antibody response. I believe these new findings provide clear evidence supporting such value proposition and further substantiate the role of BRII-179 in shaping future combination therapies.”

“We are encouraged that the Cohort 4 from the ENSURE study continue to support our enrichment strategy in developing a functional cure for chronic HBV in target populations,” said David Margolis, MD, Chief Medical Officer of Brii Bio. “The results underscore the potential of BRII-179 in identifying patients who are more likely to respond to regimens aimed at functional cure, thereby enhancing functional cure rates in the target population while reducing exposure to costly therapies for those with a lower probability of cure. We are committed to advancing BRII-179 in combination with various modalities through our ongoing studies and collaborations with strategic partners, aiming to deliver higher functional cure rates to 254 million patients worldwide living with chronic HBV infection.”

Abstract Number: OP0335

Presentation Title: Responders to Prior BRII-179 Treatment Achieved Faster and Higher Rate of HBsAg Seroclearance Following Treatment of Elebsiran and PEG-IFNα in Participants with Chronic Hepatitis B Virus Infection: Preliminary Data from ENSURE Study

Presenter: Grace Lai-Hung Wong, MBChB (CUHK), MD (CUHK), FRCP (Lond, Edin), FHKCP, FHKAM (Medicine), Professor of Gastroenterology and Hepatology at CUHK Medical Data Analytics Centre (MDAC) and Department of Medicine and Therapeutics in Hong Kong SAR, China

  • Among the 28 of the 31 participants enrolled in Cohort 4 with baseline HBsAg ≥ 100 IU/mL being analyzed, 18 participants with peak anti-HBs ≥ 10 IU/L induced by prior BRII-179 treatment were defined as BRII-179 responders and 10 participants with peak anti-HBs < 10 IU/L were defined as non-responders.
  • At Week 24 of treatment with elebsiran + PEG-IFNα, 39.3% (11/28) of the Cohort 4 participants achieved HBsAg seroclearance.
  • The rate of HBsAg seroclearance at Week 24 in the BRII-179 responders was 55.6% (10/18), notably higher compared to the non-responders at 10% (1/10).
  • Responders to prior BRII-179 treatment appeared to achieve a faster HBsAg seroclearance compared to BRII-179 naïve participants receiving elebsiran + PEG-IFNα as previously reported.
  • Elebsiran and PEG-IFNα combination therapy was generally safe and well tolerated in participants with virally suppressed chronic HBV infection.
  • Treatment with elebsiran + PEG-IFNα is ongoing for 48 weeks.

Abstract Number: LB0009

Presentation Title: Higher end of treatment (EOT) HBsAg loss and seroconversion rates in participants with chronic HBV infection receiving elebsiran (BRII-835) and pegylated interferon alfa-2a (PEG-IFNα) compared to PEG-IFNα alone: Week 48 results from ongoing ENSURE study

Presenter: Jidong Jia, M.D., Ph.D., Professor of Medicine at the Liver Research Centre, Beijing Friendship Hospital, Capital Medical University in Beijing, China

  • The rates of HBsAg seroclearance at EOT in elebsiran 200 mg + PEG-IFNα and elebsiran 100 mg + PEG-IFNα cohorts were 26.3% (5/19) and 33.3% (6/18), respectively, notably higher compared to PEG-IFNα alone cohort (5.6%) in participants with baseline HBsAg levels 100-3,000 IU/mL.
  • Greater HBsAg reductions at EOT were observed in elebsiran + PEG-IFNα combination cohorts (mean [SE]: -2.47 [0.28] or -3.01 [0.28] log10 IU/mL in elebsiran 200 mg or 100 mg, respectively) than in PEG-IFNα cohort (-1.02 [0.30] log10 IU/mL).
  • Elebsiran in combination with PEG-IFNα at both 200 mg and 100 mg doses achieved similar HBsAg reductions and seroclearance rates. Elebsiran and PEG-IFNα combination therapy was generally safe and well tolerated in participants with virally suppressed chronic HBV infection.
  • Post-treatment follow-up is ongoing and will continue for 24 weeks after discontinuation of treatment.

As part of Brii Bio’s unique approach to developing a functional cure for HBV, the Company and its partners are actively progressing multiple combination studies with our differentiated portfolio, including BRII-179, a recombinant protein-based HBV immunotherapeutic being evaluated in multiple combination studies with elebsiran led by Brii Bio; elebsiran being evaluated in combination with PEG-IFNα  in studies led by Brii Bio and tobevibart, an investigational broadly neutralizing monoclonal antibody targeting HBV, being evaluated  in multiple Phase 2 and 3 tobevibart and elebsiran combination studies led by Vir Biotechnology. Key data readouts will be shared in the coming months at the scientific conferences throughout 2025.

About Hepatitis B

Hepatitis B virus (HBV) infection is one of the world’s most significant infectious disease threats with more than 254 million people infected globally.[1] Chronic HBV infection is the leading cause of liver disease and an estimated 820,000 people die of complications from chronic HBV infection each year.[1] HBV is of exceptional concern in China, where 87 million people are chronically infected.[2]

About BRII-179

BRII-179 is a novel recombinant protein-based HBV immunotherapeutic candidate that expresses the Pre-S1, Pre-S2, and S HBV surface antigens, and is designed to induce enhanced and broad B-cell and T-cell immunity. In November 2023, the Center for Drug Evaluation (the “CDE”) of the National Medical Products Administration (the “NMPA”) granted BRII-179 Breakthrough Therapy Designation.

About Elebsiran (BRII-835, VIR-2218)

Elebsiran is an investigational subcutaneously administered HBV-targeting siRNA designed to degrade hepatitis B virus RNA transcripts and limit the production of hepatitis B surface antigen. It has the potential to have direct antiviral activity against HBV and HDV. It is the first siRNA in the clinic to include Enhanced Stabilization Chemistry Plus technology to enhance stability and minimize off-target activity, which potentially can result in an increased therapeutic index. Brii Bio licensed exclusive rights to develop and commercialize elebsiran for the Greater China territory from Vir Biotechnology, Inc. in 2020.

About Brii Bio

Brii Biosciences Limited (“Brii Bio“, stock code: 2137.HK) is a biotechnology company developing therapies to address major public health challenges where patients experience high unmet medical needs, limited choice and significant social stigmas. With a focus on infectious diseases, the Company is advancing a broad pipeline of unique therapeutic candidates with lead programs against hepatitis B virus (HBV) infection. The Company is led by a visionary and experienced leadership team and has operations in key biotech hubs, including Raleigh-Durham, the San Francisco Bay Area, Beijing and Shanghai. For more information, visit www.briibio.com.

[1] World Health Organization. (April 2024). Global hepatitis report 2024: action for access in low- and middle-income countries. World Health Organization. Retrieved from https://www.who.int/publications/i/item/9789240091672

[2] World Health Organization. Hepatitis. World Health Organization. Retrieved from https://www.who.int/china/health-topics/hepatitis#:~:text=There%20are%2087%20million%20people,living%20with%20chronic%20hepatitis%20C.

 

Tourism Plus Shanghai 2025, a Key Innovation Hub of Global Tourism Industry, to Break Record with its Scale

SHANGHAI, March 28, 2025 /PRNewswire/ — From March 30th to April 3rd, Tourism Plus Shanghai 2025 (TPS2025) will set a new historical record with 5 cluster exhibitions, located on 4 main exhibition centers in Shanghai, 700,000 square meters total exhibition area, 15 industrial categories, 68 exhibition sections, 6,000+ exhibitors, 8 lifestyle festivals, 22 international and domestic competitions as well as 300+ conferences and live events. It is estimated to attract at least 450,000 visitors from more than 140 countries & regions worldwide.

The expo is launched by Shanghai Municipal Administration of Culture and Tourism, co-sponsored by China Tourism Association, and co-organized by Shanghai Sinoexpo Informa Markets International Exhibition Co., Ltd. and Shanghai International Convention & Exhibition Co., Ltd.

Supported by the 4 exhibition centers located in both Pudong and Puxi, TPS2025 willfully promote the deep integration of ” industries + tourism” from the industrial coordination perspective, it will not only assist the close linage between traditional industries like hotels, caterings, retailing and tourism industry, but also will create a new and full spectrum tourism development stage through fostering new business forms. In terms of innovation, TPS2025 will roughly attract more than 6,000 active exhibitors and bringing 100,000 new products debuts globally, which will continuously inject vitality into the tourism industry Regarding the technology and environmental protection empowerment, the gathering of a variety of robotics, new energy, and green construction materials enterprises will set a solid foundation for the intelligent upgrading and green & sustainable development of the tourism industry. Through the full engagement of the culture, tourism, business, sports industries and exhibition, the spillover effect of the expo will be continuously amplified. It will release the tourism consumption potential, stimulate the consumption of surrounding industries, leverage the influence of Shanghai tourism brand, comprehensively boost the consumption momentum, and firmly promote Shanghai’s tourism industry to move in the direction of high quality and innovation.

TPS2025 not only reflects the current industrial and market trends, but also proactively shapes a much bigger picture of the tourism industry and evolves itself into a key hub of innovation within the global tourism industry through setting the forward-looking themes, integrating resources, incubating the ecological circles, and creating “tourism + industries” and ” industries + tourism”.

Deepen the ” industries + tourism” concept, expand the linkage among culture, tourism, business, sports and exhibitions

On top of the 9 classified national categories of tourism and related industries, TPS2025 has broadly embraced other sectors like agriculture, traditional industry, commerce, science & technology, culture, sports, health care and etc. It has also implanted raw materials, auxiliary materials and accessories, manufacturing, technology, services, trade and other segments of the supply chain. Through all the above engagements, it becomes a super-expo covering 15 industrial categories and vertical industrial chain, including hospitality, catering & food, coffee & tea, chain franchise, architectural decoration, commercial design, cleaning & sanitation, boat industry, tourism & healthcare, art and visual display industry and so on, which will provide a huge carrying capacity for the linkage development among all these industrial segments.

TPS2025 is bringing a much more broader consumption scenario to the whole industry through its “industries + tourism” platform effect. 

For example, the “MetaSVS Shanghai Virtual Sports Opening” brought by JUSS INTELLISPORTS will be held for the first time in Shanghai World Expo Exhibition & Convention Center, , which is not only the linkage of a single sport event and exhibition, but also provides linkage opportunities between the cultural tourism metaverse and the sports industry. Moreover, “TPS Immersive Experience Exhibition” reflects the linkage between the cultural tourism metaverse industry and tourist attractions, IP industry and commercial space temporary exhibition. “Follow Lure to travel” and other exhibition on-site activities have also led to the launch of new tourism routes in the subdivision field with the tourism industry.

The lifestyle festivals represented by the “HOTELEX Shanghai International Coffee, Wine and Food Festival” held at the National Exhibition and Convention Center (Shanghai) not only promote the consumption of related products, but also disseminate the culture and lifestyle of related industries to the public.

A series of forums such as the “Hotel Culture Week” which will be held at Shanghai New International Expo Center will witness the empowerment of global design industry to the hotel and cultural tourism accommodation industries.

Modern Concept World Expo will extend the linkage beyond the exhibition period and outside the exhibition hall, it will cooperate with Changfeng Joy City to launch the “POPART Changfeng Joy City International Balloon Art Festival”, so that more citizens can understand the creativity of art &visual display industry.

In order to stimulate the spillover effect of “Exhibition + Tourism”, TPS2025 also jointly launched the “TPS2025 Shanghai Pass Joint Commemorative Card” with Shanghai City Tour Card, which will combine all discounts offered in Shanghai one-day tourist and many concessions on Shanghai Tourism Quality Life Festival, therefore bringing diversified exhibition and travel interaction consumption experience for domestic and foreign exhibitors and visitors.

Focus on new product debut, lead the new trend of lifestyle consumption

TPS2025 encourages exhibitors to have their spring new products debut in the exhibition, and provides diversified public display platforms for the promotion including SMG live broadcast rooms, road shows, promotion meetings, forums, competition specialized products and  lifestyle festival experience etc. More than 6,000 exhibitors are expected to bring 10,000+ new products representing domestic and even global markets, such as the Prado Museum VR Art Exhibition from Spain that will make its global debut at the TPS2025.

Special exhibitions, lifestyle festivals and competitions are important bridges connecting new products from enterprises and professional enthusiasts, as well as major stages for driving new consumption of lifestyle. The special exhibition will bring demonstration innovative lifestyle scenes. The lifestyle festival and competition will bring new products, new skills and new ways of playing. These innovations will lead to new consumption trends.

This year, there will be many special exhibitions such as “2025 Roadtrip Show”, “TPS Immersive Experience Site”etc., and lifestyle festivals such as “Shanghai Tourism Quality Lifestyle Festival”, “Water Sports Carnival” and “Lure Carnival”, as well as virtual sports and Lure fishing events.

At the National Exhibition and Convention Center (Shanghai), there will be many lifestyle festivals such as “HOTELEX Shanghai International Coffee, Wine and Food Festival”, “Global Flavor CHA Drink Culture Festival”, “HOTELEX x FOODAiLY INNOVATION EXPO”, and 15 international and domestic competitions covering coffee, drinks, cooking, baking, desserts, chocolate, ice cream, wine, catering and other content.

At the Shanghai New International Expo Center, there will be many special exhibitions such as “Hotel Brand Investment and Franchise Zone”, “DJSER Design Recommendation Zone @ Shanghai“, as well as the “Hotel & Shop Plus Cultural and Tourism Lifestyle Festival” for accommodation supplies. There are also hotel uniforms, hotel room skills, cleaning skills and other competitions.

At the Shanghai Convention & Exhibition Center of International Sourcing, there will be special exhibitions such as “Trendy Social media Hot-spots Hall”.

All these activities have brought trend reference for creating new consumption scenarios and driving the industry’s wind direction.

Strengthen scientific and technological empowerment, leverage industrial investment to the next level

The upgrading of the industry cannot be separated from the empowerment of new quality productivity, and TPS2025 is a super platform for the docking of advanced technology and the application scenarios of 15 major industrial categories.

There are many robot enterprises participating in this exhibition. In the field of culture and tourism, there are Unitree Robotics, ULS Robotics, Qingbao Robot; In the field of catering and unmanned retail, there are JAKA, COFE+ and YUSHAN INTELLIGENT; In the hotel, commercial space, cleaning fields, there are ALPHA, Yunji Robot, Excelland, Padbot, Viggo, Gausium, Pudu, Wimsha Robot and so on. These robot companies are actively expanding the application scenarios related to the tourism industry and deploying large AI models for the corresponding scenarios.

In terms of promoting the green development of the industry, new energy enterprises such as CATL and EIKTO, as well as green building materials enterprises such as JOMOO, AGMO and SHIJIHAOMEN will bring green supply chains for terminal products here.

Integration service providers of many large technology enterprises will also come to the exhibition site: Xuzhou VR Intelligent Technology will bring PICO in LBE large space system solutionst; Bittel will bring Tmall Genie, Xiaomi in the smart hotel and other application scenarios landing system solutions.

In addition to vigorously promoting the landing of new quality productivity enterprises in various application scenarios, the organizers of TPS2025 will also give full play to the advantages of TPS2025 as the world’s largest tourism industry special expo, connect the upstream and downstream links of the industrial chain through the combination of investment and consumption, and strive to turn exhibitors into investors.

The Shanghai Culture & Tourism Investment Promotion Week 2025 and TPS Tourism Investment Matchmaking Meeting will be held from March 30th to April 1st, inviting top institutions from the country’s high-quality investment funds, culture & tourism operation groups, hotel groups to participate. It will focus on investment hot spots such as new quality productivity enterprise investment, immersion and IP empowerment, new ecology of food and beverage, and venture overseas, further demonstrating the economic vitality, innovation drive, urban charm and investment potential of Shanghai, and striving to build the Asia-Pacific tourism investment gateway.

In addition to the precise investment matching meeting, the organizers of Tourism Plus Shanghai also rely on a million-level database to invite hundreds of thousands of professional buyers to the exhibition site, face-to-face exchanges with exhibitors, and promote the growth of upstream and downstream trade in the industry. Online, the exhibition mobile software DTSHoReCa developed by the organizer of TPS2025 has been launched on various application platforms, and an online business reservation system has been opened to help exhibitors and buyers achieve accurate docking.

The forum is also an important place to promote industry trends. This year, more than 1,000 speakers will come to the TPS2025 to discuss the trends and latest cases in the segment with the visitors. Dozens of technology-related forums, such as “2025 China Hotel New Quality Productivity Development Forum”, “BIM Conference on Architectural Decoration”, and “Seminar on Green Technology and Sustainable Development of Boats” will promote the promotion of cutting-edge technologies in the industry. A number of development index studies, evaluation models, standard publicity and implementation, industry lists etc., will be released at the conference.

Activate resource elements, create the cultural core” based culture and tourism IP 

In addition to bringing industrial resources for the upgrading of tourism destinations, the organizers of TPS2025 are also trying to promote the activation of local resources, create new local tourism IP through “characteristic industries + local culture + tourism”, and promote local cultural heritage and international exchanges through tourism.

This year, HOTELEX incorporated years of successful experience in building a coffee industry chain into the concept of “Chinese CHA”. HOTELEX for the first time will hold a collection of intangible cultural heritage masters, tea spaces, new tea pop-up shops and other content, and link to the “Shanghai Urban Chinese Style 2025”, gathering professional events, theme forums, and launching “Global Flavored CHA Drink Culture Festival”. The “Global Flavored CHA Drink Culture Festival” aims to promote the development of tea and tourism in traditional tea producing areas, as well as the two-way commitment of traditional tea and fashion drink, accelerating the development of Chinese tea to the CHA of the world. At the same time, the “Fashion Drink Competition Finals and World Fashion Drink Elite Competition” was held for the first time, inviting judges and contestant’s resources brought by the exhibition to Southeast Asia, bringing reference for flavor research and development for the Chinese tea industry to explore the Southeast Asian market.

In the TPS2025, the “2025 Roadtrip Show” invited self-drive tourism clubs, destinations along the way, roadtrip related industry chains, etc. On the big stage with G318 as the road travel scene, in front of the road signs marking 108 destinations and scenic spots, and in the background of the road map with 5,476 kilometers of concentration, “2025 Roadtrip Show” has embedded new ways of driving trips and destinations along the way and related cultural films, inviting global visitors to step on the “landscape avenue of Chinese people”.

IHG, Hilton and other international hotel groups actively entered the hotel brand investment and franchise exhibition area of Hotel & Shop Plus – Shanghai International Hotel, Shop, Office and Public Space Expo, attracting hotel owners and management groups, hotel industry investors and franchisees to jointly tap the potential of China’s hotel market and promote the update of the stock hotel market.

This year, the inclusion of the International Council of Marine Industry Associations (ICOMIA) for the first time will inject a stronger international perspective and industry resources into China (Shanghai) International Boat Show 2025. At CIBS2025, ICOMIA will bring together business leaders and industry experts to discuss the future development of the Marine leisure industry in the Asia-Pacific region and around the world.

Judging from the amount of pre-registration of overseas visitors this year, the international influence of TPS2025 is also rapidly increasing. As of March 27, the total number of pre-registered overseas visitors has exceeded 20,000. On the basis of 15,761 overseas guests from 141 countries and regions last year, the number of overseas visitors is expected to reach a new high this year under the influence of Shanghai’s creation of “the first stop of China’s inbound tourism”.

Attachment:

The specific exhibition information of each collective exhibitions of TPS2025 is as follows:

From March 30th to April 2nd, HOTELEX – Shanghai International Hospitality Equipment & Food service Expo will be held at the National Exhibition and Convention Center (Shanghai), focusing on hospitality, food and beverage, coffee and tea, chain and franchise, and other industries.

From March 30th to April 2nd, Tourism Plus Shanghai 2025 and China (Shanghai) International Boat Show and The Lifestyle Show Shanghai 2025 will be held at the Shanghai World Expo Exhibition & Convention Center, focusing on tourism and healthcare, boat industry, outdoor leisure and other industries.

From March 31st to April 3rd, Hotel & Shop Plus-Shanghai International Hotel, Shop, Office and Public Space Expo, which expanded its exhibition scope this year, will be held at Shanghai New International Expo Center, focusing on architectural decoration, commercial design, clean and sanitation and other industries.

From March 31st to April 1st, Modern Concept World Expo, which is new this year, will be held at Shanghai Convention & Exhibition Center of International Sourcing, focusing on art and visual display industry.