QYUNS-B (02509) rose more than 10%, reaching HK$20.92 by the time of writing, with a trading volume of HK$10.6024 million. The company recently announced that its board has considered the post-commercialization business needs of Sailexin® (QX001S) and proposed renewing the annual caps for ongoing connected transactions under the QX001S framework agreement for the fiscal years 2026 to 2028.

Based on the business scale, projected growth, production capacity, operational needs, and industry-wide economic outlook of its partners Saifusi and Sino-American Huadong, the board recommended setting new annual caps for the three fiscal years from 2026 to 2028. The profit-sharing cap is expected to surge significantly from RMB 55 million in 2026 to RMB 290 million in 2028.

Notably, QYUNS-B previously announced a global exclusive collaboration and licensing agreement with Roche for its self-developed long-acting autoimmune bispecific antibody QX031N. Under the agreement, Roche will be granted global exclusive rights to research, develop, register, manufacture, and commercialize QX031N. QYUNS-B will receive an upfront payment of $75 million, along with potential milestone payments of up to $995 million and tiered royalties on future product sales.

China Post Securities views the company as a leader in domestic autoimmune innovative drugs, with strong expertise in the field. Its mature pipeline is gradually entering a value-realization phase, enhancing its self-sustaining capabilities, while its innovative pipeline continues to secure overseas licensing deals, further ensuring stable operations.