Xiamen Amoytop Biotech Co Ltd

Amoytop Biotech announced the appointment of Zeng Honglin as board secretary. Former board secretary Yang Yiling stepped down from the role to comply with the regulatory requirement that the board secretary must not concurrently serve as chief financial officer, and will continue to serve as deputy general manager and chief financial officer. Zeng Honglin was born in September 1988 and graduated from Xiamen University with a degree in accounting. He holds a certified public accountant certificate and a legal professional qualification certificate. From November 2015 to November 2025, he worked in investment banking at the Shanghai securities underwriting and sponsorship branch of Sinolink Securities, serving successively as project assistant, project manager, senior manager, business director, and executive general manager. From November 2025 to September 2026, he served as executive director of the company's finance center. Amoytop Biotech was founded in 1996 and listed on the Shanghai Stock Exchange in 2020. It focuses on the research, development, production, and sale of recombinant proteins and their long-acting modified drugs. In the first half of 2026, the company achieved operating revenue of 1.837 billion yuan, up 21.58% year on year, and net profit attributable to shareholders of the listed company of 477 million yuan, up 11.37% year on year, mainly driven by continued volume growth for Pegbin as evidence-based medical evidence strengthened, and initial volume growth for the new product Yipeisheng after it was included in medical insurance. As of the close on September 30, Amoytop Biotech rose 3.30% to 52.89 yuan per share, giving the company a total market value of 21.59 billion yuan.

Amoytop Biotech released its 2026 interim report. Operating revenue was 1.84 billion yuan, up 21.6% year on year. Net profit attributable to the parent was 477 million yuan, up 11.4% year on year. Net profit attributable to the parent after deducting non-recurring items was 488 million yuan, up 13.2% year on year. Second-quarter operating revenue was 1.04 billion yuan, up 24.1% year on year, and net profit attributable to the parent was 312 million yuan, up 27.0% year on year. The company said its approved drug Pegbin has become the world's first drug with clinical cure as the treatment goal, making significant progress in the treatment of chronic hepatitis B. The launch of its growth hormone product Yipaisheng and its inclusion in medical insurance have also brought new revenue growth points.

Tonghua Dongbao plans to exercise its preemptive subscription rights to participate in the purchase of convertible corporate bonds issued by Xiamen Amoytop Biotech to non-specific investors, with an investment amount not exceeding 162 million yuan. The company holds 42.01 million shares of Amoytop Biotech, representing a 10.29 percent stake. The investment principal for this subscription accounts for 2.28 percent of the company's audited net assets for 2025 and 2.24 percent of its unaudited net assets for the first quarter of 2026. The total proceeds from Amoytop Biotech's convertible bond issuance will not exceed 1.533 billion yuan. Tonghua Dongbao classifies this investment as a financial asset measured at fair value through profit or loss, and changes in fair value will affect the company's net profit. In the first quarter of 2026, Tonghua Dongbao achieved revenue of 748 million yuan and net profit attributable to the parent company of 127 million yuan.

Amoytop Biotech announced that it has received a drug clinical trial approval notice from the National Medical Products Administration. The ACT201 injection has been approved to conduct clinical trials for chronic hepatitis B. The drug is an innovative antisense oligonucleotide with strong antiviral activity and low off-target effects, and has been selected for the 2025 National Science and Technology Major Project for innovative drug research and development.

Aligos Therapeutics has received a $25 million upfront payment from Xiamen Amoytop Biotech under an exclusive license agreement for Pevifoscorvir sodium in Greater China. The therapy targets chronic hepatitis B virus infection and recently obtained Breakthrough Therapy Designation from China's National Medical Products Administration. Aligos is eligible for up to $420 million in clinical, regulatory, and sales milestones, plus tiered royalties on net sales in Amoytop's licensed territories, while retaining rights in the U.S., Europe, South Korea, Japan, and other markets. CEO Lawrence Blatt noted that a joint steering committee has been formed and Amoytop plans to initiate clinical development of Aligos' antisense oligonucleotide candidate ALG-170675 in China later this year. The stock closed Monday at $5.85, up 4.65%, and rose to $6.46 in overnight trading, a 10.43% gain.