TIDMHCM
RNS Number : 6185X
Hutchmed (China) Limited
21 December 2023
Overseas Regulatory Announcement -
Continuing Connected Transactions
HUTCHMED (China) Limited (" HUTCHMED ") notes the below text,
which is from an announcement released to the Stock Exchange of
Hong Kong Limited on December 21, 2023 pursuant to Chapter 14A of
the Rules Governing the Listing of Securities on The Stock Exchange
of Hong Kong Limited.
About HUTCHMED
HUTCHMED (Nasdaq/AIM:HCM; HKEX:13) is an innovative,
commercial-stage, biopharmaceutical company. It is committed to the
discovery and global development and commercialization of targeted
therapies and immunotherapies for the treatment of cancer and
immunological diseases. It has approximately 5,000 personnel across
all its companies, at the center of which is a team of about 1,800
in oncology/immunology. Since inception it has focused on bringing
cancer drug candidates from in-house discovery to patients around
the world, with its first three medicines marketed in China, the
first of which is also marketed in the U.S. For more information,
please visit: www.hutch-med.com or follow us on LinkedIn .
CONTACTS
Investor Enquiries +852 2121 8200 / +1 973 306 4490 / ir@hutch-med.com
Media Enquiries
Ben Atwell / Alex Shaw, FTI Consulting +44 20 3727 1030 / +44 7771 913 902 (Mobile) / +44 7779
545 055 (Mobile) / HUTCHMED@fticonsulting.com
Zhou Yi, Brunswick +852 9783 6894 (Mobile) / HUTCHMED@brunswickgroup.com
Nominated Advisor
Atholl Tweedie / Freddy Crossley / Daphne Zhang, Panmure
Gordon +44 (20) 7886 2500
Hong Kong Exchanges and Clearing Limited and The Stock Exchange
of Hong Kong Limited take no responsibility for the contents of
this announcement, make no representation as to its accuracy or
completeness and expressly disclaim any liability whatsoever for
any loss howsoever arising from or in reliance upon the whole or
any part of the contents of this announcement.
HUTCHMED (China) Limited
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 13)
CONTINUING CONNECTED TRANSACTIONS
In anticipation of the expiration of the initial terms of the Framework
Sinopharm Products Supply and Purchase Agreement and the HBYS Brand
License Royalty Agreement on December 31, 2023, on December 21,
2023:
(a) the Company and Sinopharm agreed to renew the Framework Sinopharm
Products Supply and Purchase Agreement with effect from January
1, 2024 for a period of three years up to and including December
31, 2026; and
(b) the Company and HCMH agreed to renew the HBYS Brand License
Royalty Agreement with effect from January 1, 2024 for a period
of three years up to and including December 31, 2026.
IMPLICATIONS UNDER THE LISTING RULES
(1) Framework Sinopharm Products Supply and Purchase Agreement
As Sinopharm is a substantial shareholder of a subsidiary of the
Company, it is a connected person of the Company and the supply
to and purchase from Sinopharm of products by the Group constitute
continuing connected transactions of the Company under Chapter
14A of the Listing Rules .
In relation to each of (i) the supply of products by the Group
and (ii) the purchase of products by the Group , the highest applicable
percentage ratio in respect of each of the Annual Cap Amounts exceeds
5%. As the transactions are between the Group and a connected person
at the subsidiary level and are on normal commercial terms, the
Directors have approved the transactions and the independent non-executive
Directors have given the confirmation required under Rule 14A.101
of the Listing Rules, (i) the supply of products by the Group and
(ii) the purchase of products by the Group under the Framework
Sinopharm Products Supply and Purchase Agreement are subject to
the reporting, announcement and annual review requirements, but
are exempt from the circular, independent financial advice and
independent shareholders' approval requirements under Chapter 14A
of the Listing Rules.
(2) HBYS Brand License Royalty Agreement
As HWEL is a subsidiary of CK Hutchison, it is a connected person
of the Company by virtue of being an associate of a substantial
shareholder of the Company and the license granted under the HBYS
Brand License Royalty Agreement constitute continuing connected
transactions of the Company under Chapter 14A of the Listing Rules.
As the highest applicable percentage ratio in respect of the annual
fee payable by HCMH under the HBYS Brand License Royalty Agreement,
on an annual basis, exceeds 0.1% but is less than 5%, the transactions
contemplated under the HBYS Brand License Royalty Agreement are
subject to the reporting, announcement and annual review requirements,
but are exempt from the circular, independent financial advice
and independent shareholders' approval requirements under Chapter
14A of the Listing Rules.
CONTINUING CONNECTED TRANSACTIONS
A. FRAMEWORK SINOPHARM PRODUCTS SUPPLY AND PURCHASE AGREEMENT
In the ordinary course of business, Hutchison Sinopharm (i)
supplies prescription drugs to Sinopharm and/or its associates and
(ii) purchases prescription drugs from Sinopharm and/or its
associates in accordance with the terms and conditions of the
Framework Sinopharm Products Supply and Purchase Agreement.
(1) Principal terms
In anticipation of the expiration of the initial term of the
Framework Sinopharm Products Supply and Purchase Agreement on
December 31, 2023, on December 21, 2023, the Company and Sinopharm
agreed to renew the Framework Sinopharm Products Supply and
Purchase Agreement with effect from January 1, 2024 for a period of
three years up to and including December 31, 2026. All other terms
and conditions of the Framework Sinopharm Products Supply and
Purchase Agreement remain unchanged, the principal terms of which
are set out below:
(a) Subject matter
The parties agreed that at any time during the term of the
Framework Sinopharm Products Supply and Purchase Agreement, the
relevant members of the Group and Sinopharm and/or its associates
may from time to time enter into definitive agreements in relation
to any transactions relating to (i) supply of products by the Group
to Sinopharm and/or its associates and (ii) purchase of products by
the Group from Sinopharm and/or its associates upon, and subject
to, the terms and conditions in compliance with the Framework
Sinopharm Products Supply and Purchase Agreement as may be agreed
between the relevant parties.
(b) Duration
Three years up to and including December 31, 2026, unless
terminated earlier by either party giving not less than one month's
prior written notice or otherwise in accordance with the terms of
the Framework Sinopharm Products Supply and Purchase Agreement.
(c) Consideration and other terms
The Framework Sinopharm Products Supply and Purchase Agreement
provides that all transactions thereunder must be conducted (i) in
the ordinary and usual course of business of the Group, (ii) on an
arm's length basis, (iii) on normal commercial terms with the
supply price and/or purchase price (as the case may be) being
determined with reference to fixed unit prices which are negotiated
on an arm's length basis and (iv) in compliance with, amongst other
things, the Listing Rules and applicable laws.
(2) Historical transaction amounts
The aggregate transaction amount recorded by the Group for the
supply of products by the Group to Sinopharm and/or its associates
for the financial years ended December 31, 2021 and 2022 and the
ten months ended October 31, 2023 are as follows:
Ten months ended
FY2021 FY2022 October 31, 2023
--------------------------- --------------------------- -----------------------------
Aggregate US$55.7 million US$69.4 million US$84.8 million
transaction
amount
The aggregate transaction amount paid by the Group to Sinopharm
and/or its associates for the purchase of products by the Group for
the financial years ended December 31, 2021 and 2022 and the ten
months ended October 31, 2023 are as follows:
Ten months ended
FY2021 FY2022 October 31, 2023
-------------------------- -------------------------- -----------------------------
Aggregate US$2.6 million US$2.4 million US$3.3 million
transaction
amount
(3) Annual Cap Amounts
In relation to the supplying of products by the Group, it is
expected that the maximum annual transaction amount receivable by
the Group from Sinopharm and/or its associates for the three
financial years ending December 31, 2024, 2025 and 2026 will not
exceed the amounts set out below:
FY2024 FY2025 FY2026
---------------------------- ---------------------------- ----------------------------
Aggregate US$498.0 million US$920.8 million US$1,310.6
transaction million
amount
The annual cap amounts in respect of the supplying of products
by the Group were determined by reference to (i) the historical
transaction amounts, (ii) the estimated increase in sales of
existing oncology marketed products through deeper market
penetration and broader market coverage from the potential new
indication of fruquintinib for gastric cancer which is at NDA
review stage in China, (iii) the estimated new contribution of
commercial sales from potential launch of new assets such as
sovleplenib and amdizalisib starting in FY2024, (iv) the estimated
increase in overall sales of existing prescription drugs from the
potential expansion of product portfolio and distribution channels
such as private hospitals and drugstores, and (v) the estimated new
contribution of commercial sales from new products acquired through
potential business development activities such as partnerships,
in-licensings and acquisitions.
In relation to the purchase of products by the Group, it is
expected that the maximum annual transaction amount payable by the
Group to Sinopharm and/or its associates for the three financial
years ending December 31, 2024, 2025 and 2026 will not exceed the
amounts set out below:
FY2024 FY2025 FY2026
--------------------------- --------------------------- ---------------------------
Aggregate US$10.0 million US$20.0 million US$30.0 million
transaction
amount
The annual cap amounts in respect of the purchase of products by
the Group were determined by reference to (i) the historical
transaction amounts and historical growth in purchase volume
resulting from the development of business with new hospital
channels, (ii) the supply price for the products and (iii) the
expected further increase in the purchase volume resulting from the
development of business with new hospital channels and expansion of
sales to such new hospital channels.
B. HBYS BRAND LICENSE ROYALTY AGREEMENT
HCMH and HWEL entered into the HBYS Brand License Royalty
Agreement on June 15, 2021 pursuant to which HCMH will pay to HWEL
an annual fee of HK$12 million (approximately US$1.5 million) in
consideration of the grant of the royalty-free license by HWEL to
Hutchison Baiyunshan (a former non-consolidated joint venture of
the Company) and its subsidiary undertakings.
(1) Principal terms
In anticipation of the expiration of the initial term of the
HBYS Brand License Royalty Agreement (as amended and restated ) on
December 31, 2023, on December 21, 2023, the Company and HCMH
agreed to renew the HBYS Brand License Royalty Agreement with
effect from January 1, 2024 for a period of three years up to and
including December 31, 2026. All other terms and conditions of the
HBYS Brand License Royalty Agreement remain unchanged, the
principal terms of which are set out below:
(a) Subject matter
In consideration of the grant of the royalty-free right to use
the HWL Trade Marks by HWEL to Hutchison Baiyunshan and its
subsidiary undertakings, HCMH agrees to pay to HWEL an annual fee
of HK$12 million.
(b) Duration
Three years up to and including 31 December 2026, unless
terminated earlier in accordance with the terms of the HBYS Brand
License Royalty Agreement .
(c) Termination and other terms
The HBYS Brand License Royalty Agreement will terminate upon (i)
the change of name of Hutchison Baiyunshan and its subsidiary
undertakings to names that do not include the "Hutchison Whampoa"
names, (ii) the earlier of (a) the termination of the trade mark
license agreements between HWEL (on the one hand) and Hutchison
Baiyunshan and its subsidiary undertakings (on the other hand) and
(b) the complete cessation of the use of the HWL Trade Marks by
Hutchison Baiyunshan and its subsidiary undertakings and (iii) the
termination of the HBYS SPA.
The aggregate fees payable by HCMH under the HBYS Brand License
Royalty Agreement (including any renewal thereof) shall not be more
than HK$120 million, even if the HBYS Brand License Royalty
Agreement is not terminated and continues to be renewed after 10
years.
(2) Historical transaction amounts
The fees paid by HCMH to HWEL for the financial years ended
December 31, 2021 and 2022 and the financial year ending December
31, 2023 are as follows:
FY2021 FY2022 FY2023
------------------------- ------------------------- -------------------------
Annual fee HK$12 million HK$12 million HK$12 million
(3) Annual Cap Amounts
The annual fee payable by HCMH under the HBYS Brand License
Royalty Agreement for each financial year ending December 31, 2024,
2025 and 2026 will be HK$12 million.
The annual fee was determined by reference to (i) the historical
sales volume of Hutchison Baiyunshan products and expected future
growth, (ii) the portion of Hutchison Baiyunshan jointly branded
products which uses the HWL Trade Marks and "Baiyunshan" trade
marks, (iii) the expected future trend in and period of such use of
the HWL Trade Marks in jointly branded products, (iv) market
royalty rates for the use of a brand in a jointly branded product,
and (v) arm's length negotiation between the Group and HWEL.
C. REASONS FOR, AND THE BENEFITS OF, THE CONTINUING CONNECTED TRANSACTIONS
(1) Framework Sinopharm Products Supply and Purchase Agreement
Hutchison Sinopharm, a consolidated joint venture of the
Company, focuses on providing logistics, distribution and marketing
services for prescription drugs in China. As of December 31, 2022,
Hutchison Sinopharm had a dedicated team of over 40 commercial
staff that focus on marketing over 900 third-party prescription
drug and other products directly to about 730 public and private
hospitals in the Shanghai region and through a network of
approximately 55 distributors to cover all other provinces in
China.
As of December 31, 2022, Hutchison Sinopharm had over 860
customers of which approximately 13% were distributors, and the
revenue generated from these distributors accounted for
approximately 25% of the revenue of Hutchison Sinopharm for the
year ended December 31, 2022.
The supply of products by Hutchison Sinopharm to Sinopharm, a
leading distributor of pharmaceutical and healthcare products and a
leading supply chain service provider in China, under the Framework
Sinopharm Products Supply and Purchase Agreement, is in line with
the business of Hutchison Sinopharm and enables Hutchison Sinopharm
to utilize the distribution network of Sinopharm.
The purchase of products by Hutchison Sinopharm from Sinopharm
under the Framework Sinopharm Products Supply and Purchase
Agreement enables Hutchison Sinopharm to secure a stable source of
the relevant products.
(2) The HBYS Brand License Royalty Agreement
On March 24, 2021, HBYSGH and GL Mountrose Investment Two
Limited entered into the HBYS SPA pursuant to which HBYSGH agreed
to sell the entire issued share capital of HCMGIL (which indirectly
held 50% interest in Hutchison Baiyunshan) to GL Mountrose
Investment Two Limited. To facilitate the HBYS Disposal, HBYSGH
agreed pursuant to the HBYS SPA and as a condition to the
completion of the HBYS Disposal that it would procure HWEL to
continue to grant the relevant license to Hutchison Baiyunshan to
use the HWL Trade Marks. In order to satisfy the condition and for
HWEL to continue to grant the license, HCMH entered into the HBYS
Brand License Royalty Agreement. The Group had taken into
consideration the amount payable under the HBYS Brand License
Royalty Agreement when the Group evaluated the commercial aspects
of the HBYS Disposal. Please refer to the section headed "Connected
Transactions - B. Non-Exempt Continuing Connected Transactions - 6.
HBYS Brand License Royalty Agreement" in the prospectus of the
Company dated June 18, 2021 for further details.
The term of the HBYS Brand License Royalty Agreement is renewed
(i) as the HBYS Brand License Royalty Agreement has not been
terminated according to its terms and (ii) as agreed by HBYSGH
pursuant to the HBYS SPA, to procure HWEL to continue to grant the
relevant license to Hutchison Baiyunshan.
(3) Views of the Directors
The Directors (including the independent non-executive
Directors) are of the view that the Continuing Connected
Transactions have been and will be entered into in the ordinary and
usual course of business of the Group and on normal commercial
terms, and their terms are fair and reasonable and in the interests
of the Company and the Shareholders as a whole, and that the
relevant Annual Cap Amounts for the Continuing Connected
Transactions are fair and reasonable and in the interests of the
Company and the Shareholders as a whole.
None of the Directors has any material interest in the
Continuing Connected Transactions and no Director was required to
abstain from voting on the board resolutions of the Company
approving the Continuing Connected Transactions. Notwithstanding
the foregoing, Mr To Chi Keung, Simon, Ms Edith Shih and Dr Dan
Eldar, being directors of CK Hutchison or its related companies,
voluntarily abstained from voting on the board resolutions of the
Company approving the renewal of the HBYS Brand License Royalty
Agreement.
D. IMPLICATIONS UNDER THE LISTING RULES
(1) Framework Sinopharm Products Supply and Purchase Agreement
As Sinopharm is a substantial shareholder of a subsidiary of the
Company, it is a connected person of the Company and the supply to
and purchase from Sinopharm of products by the Group constitute
continuing connected transactions of the Company under Chapter 14A
of the Listing Rules .
In relation to each of (i) the supply of products by the Group
and (ii) the purchase of products by the Group, the highest
applicable percentage ratio in respect of each of the Annual Cap
Amounts exceeds 5%. As the transactions are between the Group and a
connected person at the subsidiary level and are on normal
commercial terms, the Directors have approved the transactions and
the independent non-executive Directors have given the confirmation
required under Rule 14A.101 of the Listing Rules as set out in
paragraph C(3) above, (i) the supply of products by the Group and
(ii) the purchase of products by the Group under the Framework
Sinopharm Products Supply and Purchase Agreement are subject to the
reporting, announcement and annual review requirements, but are
exempt from the circular, independent financial advice and
independent shareholders' approval requirements under Chapter 14A
of the Listing Rules.
(2) HBYS Brand License Royalty Agreement
As HWEL is a subsidiary of CK Hutchison, it is a connected
person of the Company by virtue of being an associate of a
substantial shareholder of the Company and the license granted
under the HBYS Brand License Royalty Agreement constitute
continuing connected transactions of the Company under Chapter 14A
of the Listing Rules.
As the highest applicable percentage ratio in respect of the
annual fee payable by HCMH under the HBYS Brand License Royalty
Agreement, on an annual basis, exceeds 0.1% but is less than 5%,
the transactions contemplated under the HBYS Brand License Royalty
Agreement are subject to the reporting, announcement and annual
review requirements, but are exempt from the circular, independent
financial advice and independent shareholders' approval
requirements under Chapter 14A of the Listing Rules.
E. INFORMATION ON THE PARTIES
(1) The Company
The Company is an innovative, commercial-stage,
biopharmaceutical company. It is committed to the discovery and
global development and commercialization of targeted therapies and
immunotherapies for the treatment of cancer and immunological
diseases. It has approximately 5,000 personnel across all its
companies, at the centre of which is a team of about 1,800 in
oncology/immunology. Since inception, it has focused on bringing
cancer drug candidates from in-house discovery to patients around
the world, with its first three medicines marketed in China, the
first of which is also marketed in the U.S..
(2) Sinopharm
Sinopharm and its subsidiaries are mainly principally engaged in
the distribution of pharmaceutical products to hospitals, other
distributors, retail pharmacy stores and clinics, the distribution
of medical devices, the operation of chain pharmacy stores, and the
distribution of laboratory supplies, manufacture and distribution
of chemical reagents, and production and sale of pharmaceutical
products. The ultimate controlling shareholder of Sinopharm is
China National Pharmaceutical Group Co., Ltd., a state-owned
enterprise established in the PRC.
(3) HWEL
HWEL is an indirect wholly-owned subsidiary of CK Hutchison and
is principally engaged in the holding of the trademarks of CK
Hutchison group .
F. DEFINITIONS
In this announcement, unless the context otherwise requires, the
following expressions have the following meanings:
"Annual Cap Amounts" the annual cap amounts for the Continuing Connected
Transactions for the three financial years ending
December 31, 2024, 2025 and 2026
"CK Hutchison" CK Hutchison Holdings Limited, a company incorporated
in the Cayman Islands with limited liability,
the shares of which are listed on the Main Board
of the Stock Exchange (stock code: 1)
"Company" or "HUTCHMED" HUTCHMED (China) Limited, a company incorporated
in the Cayman Islands with limited liability,
the shares of which are listed on the Main Board
of the Stock Exchange (stock code: 13), the
AIM market of the London Stock Exchange (stock
code: HCM) and in the form of American depositary
shares on the NASDAQ Global Select Market (ticker
symbol: HCM)
"Continuing Connected the transactions contemplated under the Framework
Transactions" Sinopharm Products Supply and Purchase Agreement
and the HBYS Brand License Royalty Agreement
"Directors" the directors of the Company
" Framework Sinopharm the framework products supply and purchase agreement
Products Supply and dated June 15, 2021 entered into between the
Purchase Agreement" Company and Sinopharm in relation to (i) supply
of products by the Group to Sinopharm and/or
its associates and (ii) purchase of products
by the Group from Sinopharm and/or its associates
"FY" financial year ending or ended December 31
"Group" the Company and its subsidiaries
"HBYS Brand License the brand license royalty agreement dated and
Royalty Agreement" as amended and restated with effect from June
15, 2021 entered into between HCMH and HWEL
in relation to the payment of annual fee by
HCMH to HWEL in consideration of the grant of
the royalty-free right to use the HWL Trade
Marks by HWEL to Hutchison Baiyunshan and its
subsidiary undertakings
"HBYS Disposal" the disposal by HBYSGH of the entire issued
share capital of HCMGIL pursuant to the HBYS
SPA
"HBYS SPA" the sale and purchase agreement dated March
24, 2021 entered into between HBYSGH and GL
Mountrose Investment Two Limited in relation
to the sale and purchase of the entire issued
share capital of HCMGIL
"HBYSGH" Hutchison BYS (Guangzhou) Holding Limited, a
company incorporated in the British Virgin Islands
with limited liability and a 80% owned subsidiary
of the Company
"HCMGIL" Hutchison Chinese Medicine (Guangzhou) Investment
Limited (currently known as GL Mountrose Chinese
Medicine (Guangzhou) Investment Limited), a
company incorporated in the British Virgin Islands
with limited liability and a former indirect
80% owned subsidiary of the Company
"HCMH" Hutchison Chinese Medicine Holding Limited,
a company incorporated in the British Virgin
Islands with limited liability and a wholly-owned
subsidiary of the Company
"HK$" Hong Kong dollar, the lawful currency of Hong
Kong
"Hong Kong" the Hong Kong Special Administrative Region
of the People's Republic of China
"Hutchison Baiyunshan" Hutchison Whampoa Guangzhou Baiyunshan Chinese
Medicine Company Limited, a company incorporated
in the PRC
"Hutchison Sinopharm" Hutchison Whampoa Sinopharm Pharmaceuticals
(Shanghai) Company Limited, a company incorporated
in the PRC and a subsidiary of the Company
"HWEL" Hutchison Whampoa Enterprises Limited, a company
incorporated in the British Virgin Islands and
a subsidiary of CK Hutchison
"HWL Trade Marks" certain "Hutchison Whampoa"-related trade marks
and logos
"Listing Rules" the Rules Governing the Listing of Securities
on the Stock Exchange (as amended and supplemented
from time to time)
"PRC" or "China" the People's Republic of China, but for the
purposes of this announcement only, except where
the context requires, references to PRC or China
exclude Hong Kong, Macau and Taiwan
"Shareholder(s)" the holders of the shares of the Company
"Sinopharm" Sinopharm Group Co. Ltd., a company incorporated
in the PRC with limited liability, the shares
of which are listed on the Main Board of the
Stock Exchange (stock code: 1099)
"Stock Exchange" The Stock Exchange of Hong Kong Limited
"US$" US dollars, the lawful currency of the United
States of America
"%" per cent.
About HUTCHMED
HUTCHMED (Nasdaq/AIM:HCM; HKEX:13) is an innovative,
commercial-stage, biopharmaceutical company. It is committed to the
discovery and global development and commercialization of targeted
therapies and immunotherapies for the treatment of cancer and
immunological diseases. It has approximately 5,000 personnel across
all its companies, at the center of which is a team of about 1,800
in oncology/immunology. Since inception it has focused on bringing
cancer drug candidates from in-house discovery to patients around
the world, with its first three medicines marketed in China, the
first of which is also marketed in the U.S.. For more information,
please visit: www.hutch-med.com or follow us on LinkedIn .
Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements reflect HUTCHMED's current expectations regarding future
events. Forward-looking statements involve risks and uncertainties.
Such risks and uncertainties include, among other things, the
impact of the COVID-19 on general economic, regulatory and
political conditions. Existing and prospective investors are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. For further
discussion of these and other risks, see HUTCHMED's filings with
the U.S. Securities and Exchange Commission and on AIM. HUTCHMED
undertakes no obligation to update or revise the information
contained in this announcement, whether as a result of new
information, future events or circumstances or otherwise.
By Order of the Board
Edith Shih
Non-executive Director and Company Secretary
Hong Kong, December 21, 2023
As at the date of this announcement, the Directors of the
Company are:
Executive Directors: Non-executive Directors:
Mr TO Chi Keung, Simon Dr Dan ELDAR
(Chairman) Ms Edith SHIH
Dr Weiguo SU Ms Ling YANG
(Chief Executive Officer and
Chief Scientific Officer) Independent Non-executive Directors:
Mr CHENG Chig Fung, Johnny Mr Paul Rutherford CARTER
(Chief Financial Officer) (Senior Independent Director)
Mr Graeme Allan JACK
Professor MOK Shu Kam, Tony
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END
MSCTBBLTMTITMIJ
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