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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 . EVEREST MEDICINES 云顶 新 耀 雲頂 新 耀 有限公司 Everest Medicines Limited ( Incorporated in the Cayman Islands with limited liability ) ( Stock Code : 1952 ) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2021 The board ( the " Board " ) of directors ( the “ Directors ” ) of Everest Medicines Limited ( the " Company " , together with its subsidiaries , the “ Group ” ) is pleased to announce the unaudited interim results of the Group for the six months ended 30 June 2021 ( the " Reporting Period ” ) . These interim results have been reviewed by the Company's audit committee and the Company's auditors , PricewaterhouseCoopers . In this announcement , “ we ” , “ us ” and “ our ” refer to the Company and where the context otherwise requires , the Group . FINANCIAL HIGHLIGHTS IFRS Numbers : Research and development ( " R & D " ) expenses increased by RMB89.8 million from RMB161.0 million for the six months ended 30 June 2020 to RMB250.8 million for the six months ended 30 June 2021 , primarily due to : ( i ) additional clinical trials of our drug candidates ; ( ii ) expansion of our R & D team ; and ( iii ) the establishment of an internal discovery team to build in - house R & D capability . General and administrative expenses increased by RMB6.1 million from RMB101.3 million for the six months ended 30 June 2020 to RMB107.4 million for the six months ended 30 June 2021 , mainly due to increase in employee remuneration in connection with organization expansion . Distribution and selling expenses increased by RMB32.9 million from RMB9.2 million for the six months ended 30 June 2020 to RMB42.1 million for the six months ended 30 June 2021 , primarily due to the build up of a commercial team and pre - launch activities carried out for upcoming products commercialization . Net loss for the period decreased by RMB240.4 million from RMB623.5 million for the six months ended 30 June 2020 to RMB383.1 million for the six months ended 30 June 2021 , primarily attributable to the decrease in loss from fair value change of financial instruments issued to investors . 1