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<p>J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries.</p>

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INNOVENT BIO

JPMorgan Chase

JPMorgan Increases Stake in Innovent Biologics to 5.08%

According to the latest information from the Hong Kong Stock Exchange, on November 24th, Morgan Stanley increased its holdings in INNOVENT BIO by 1,635,942 shares, at a price of HKD 90.9102 per share, totaling approximately HKD 149 million. After the increase, the latest number of shares held is approximately 87,161,800, with a latest holding ratio of 5.08%

Morgan Stanley increased its holdings in INNOVENT BIO by approximately 1.6359 million shares at a price of about HKD 90.91 per share

According to the latest data from the Hong Kong Stock Exchange, on October 30, Morgan Stanley increased its holdings in INNOVENT BIO by 2,550,546 shares, at a price of HKD 80.6819 per share, for a total amount of approximately HKD 206 million. After the increase, the latest number of shares held is approximately 87,023,200, with a latest holding ratio of 5.07%

Morgan Stanley increased its holdings in INNOVENT BIO by approximately 2.5505 million shares at a price of about HKD 80.68 per share

According to the latest data from the Hong Kong Stock Exchange, on November 11, Morgan Stanley increased its holdings in INNOVENT BIO by 1,438,757 shares, at a price of HKD 84.7327 per share, totaling approximately HKD 122 million. After the increase, the latest number of shares held is approximately 86,841,100, with a latest holding ratio of 5.06%

Morgan Stanley increased its holdings in INNOVENT BIO by approximately 1.4388 million shares at a price of about HKD 84.73 per share

INNOVENT BIO once rose nearly 5%, and as of the time of publication, it is up 3.9%, trading at HKD 90.65, with a transaction volume of HKD 177 million. On the news front, on November 21, the results of the Hang Seng Index series quarterly review were released, and all changes will take effect from December 8, 2025. Among them, INNOVENT BIO will be included in the Hang Seng Index constituent stocks, increasing the number of constituent stocks from 88 to 89. It is worth mentioning that on November 20, INNOVENT BIO announced that the phase III clinical study (GLORY-2) of Masitide injection (glucagon [GCG] / glucagon-like peptide-1 [GLP-1] dual receptor agonist, research code: IBI362) conducted in the Chinese population with moderate to severe obesity has achieved its primary endpoint and all key secondary endpoints. INNOVENT BIO will soon submit a new drug application for Masitide 9mg for adult weight control to regulatory authorities

Understanding the Market | INNOVENT BIO once rose nearly 5% and will officially turn blue starting from December 8

Innovent Biologics has been included in the Hang Seng Index constituents, becoming the first Chinese pharmaceutical company to grow from Biotech to Biopharma and enter the blue-chip category. This marks the first time that China's innovative drug industry has been accepted by the mainstream international capital market as a core asset, promoting a shift in Innovent Biologics' valuation system from growth stocks to asset stocks, and the evaluation logic of the capital market is also undergoing a fundamental change

Innovent Bio has been included in the Hang Seng Index, signaling the entry of Chinese biotech into the era of mainstream assets

JPMorgan Seeks SEC Approval for Bitcoin Structured Note Product

JP Morgan has applied to the U.S. Securities and Exchange Commission to launch a structured note product linked to Bitcoin. This product allows investors to bet on Bitcoin prices through BlackRock iShares Bitcoin Trust ETF. If the Bitcoin ETF price reaches or exceeds a set price by December 21, 2026, JP Morgan will redeem the notes and pay at least $160. If the price is below the standard, the notes will be held until 2028, and investors can earn a return of 1.5 times the increase in Bitcoin. The product carries high risks; if the Bitcoin price drops by 40% or more, investors will lose most of their initial investment

JP Morgan applies to the U.S. SEC for a Bitcoin structured note product

JPMorgan Chase has launched structured notes linked to the BlackRock spot Bitcoin ETF (IBIT), designed to align with the Bitcoin halving cycle. If IBIT reaches the target price in 2026, the notes will be automatically redeemed, providing investors with a 16% return; if the target is not met, it will extend to 2028, and if the target price is exceeded, investors can receive more than 1.5 times the return. The product includes downside protection, ensuring that if IBIT's decline does not exceed 30% by 2028, the principal is protected; losses will be proportional if it exceeds 30%. JPMorgan Chase warns of extreme downside risks, with investors potentially losing over 40% of their principal

JPMorgan Chase launched structured notes linked to BlackRock's IBIT, aligning with the Bitcoin halving cycle

JP Morgan significantly increased its holdings in Bitcoin ETF, raising its shares to 5,284,190, with a total market value of approximately $343 million, an increase of 64%. The bank also holds options positions in IBIT, including $68 million in call options and $133 million in put options. Despite the volatility in Bitcoin prices, JP Morgan remains confident in its long-term prospects, reflecting a rebound in market demand for regulated investment instruments. Analysts point out that there is still a discount for Bitcoin relative to gold

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JPMorgan Increases Stake in Innovent Biologics to 5.08%

JPMorgan Seeks SEC Approval for Bitcoin Structured Note Product