Earnings release
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1 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. Hansoh Pharmaceutical Group Company Limited ʮ̡ (Incorporated in the Cayman Islands with limited liability) (Stock Code: 3692) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED JUNE 30, 2026 The board (the “Board”) of directors (the “Directors ”) of Hansoh Pharmaceutical Group Company Limited (the “Company ”) is pleased to announce the unaudited interim results of the Company and its subsidiaries (collectively, the “Group”) for the six months ended June 30, 2026 (the “Reporting Period ”), together with the comparative figures for the corresponding period in 2025. In this announcement, “we”, “us” and “our” refer to the Company and the Group, depending on the context. FINANCIAL HIGHLIGHTS For the six months ended June 30, 2026, the Group recorded the following unaudited results: • Revenue was approximately RMB8,304 million, representing an increase of approximately 11.7% compared with the corresponding period of the previous year; • Revenue of innovative medicines amounted to approximately RMB7,092 million, representing an increase of approximately 15.4% compared with the corresponding period of the previous year which amounted to approximately RMB6,145 million, and its proportion of total revenue increased to approximately 85.4%; • R&D expenditure was approximately RMB1,739 million, representing an increase of approximately 20.7% compared with the corresponding period of the previous year, and accounted for approximately 20.9% of the revenue; • Profit was approximately RMB4,258 million, representing an increase of approximately 35.8% compared with the corresponding period of the previous year; and • Basic earnings per share was approximately RMB0.70, representing an increase of approximately 33.1% compared with the corresponding period of the previous year. The increase in profit and basic earnings per share during the Reporting Period was primarily due to the combined effect of the increase in revenue of innovative medicines and the increase in other income. The Board has declared the payment of an interim dividend of HK$28.50 cents per share for the six months ended June 30, 2026.
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2 CORPORATE OVERVIEW The Company is a leading innovation-driven pharmaceutical enterprise in the People ’s Republic of China ( “China ” or “PRC”). With the mission of “continuous innovation for better life ”, the Company focuses on major disease therapeutic areas such as oncology, metabolism, immunology, central nervous system ( “CNS”) and anti-infectives. The Company has launched seven innovative medicines that generate product sales in China, forming a rich product pipeline. For the six months ended June 30, 2026, the revenue of innovative medicines amounted to approximately RMB7,092 million and accounted for approximately 85.4% of the revenue, becoming a core driver for the sustainable growth of the Group ’s performance. The major achievements during the Reporting Period were as follows: In January 2026, the Group ’s innovative medicine Ameile (ᆀ®) (Aumolertinib Mesylate Tablets) was granted drug registration approval by the National Medical Products Administration (“NMPA”) of China for its fifth indication, in respect of which Ameile is used in combination with pemetrexed and platinum-based chemotherapy for the first-line treatment of adult patients with locally advanced or metastatic non-small cell lung cancer ( “NSCLC ”) whose tumors have epidermal growth factor receptor ( “EGFR”) exon 19 deletions or exon 21 (L858R) mutations. In February 2026, Aumolertinib Mesylate Tablets, marketed as Ameile (ᆀ®) in China and as Aumseqa ® outside China, was approved in the European Union ( “EU”) as monotherapy for: the first-line treatment of adult patients with advanced NSCLC whose tumors have EGFR exon 19 deletions or exon 21 (L858R) substitution mutations; and the treatment of adult patients with advanced EGFR T790M mutation-positive NSCLC. In February 2026, the New Drug Application ( “NDA”) of the Group ’s innovative medicine Dalmelitinib Mesylate Tablets in combination with Aumolertinib Mesylate Tablets was accepted by the NMPA for the treatment of patients with locally advanced or metastatic EGFR mutation-positive NSCLC whose tumors have mesenchymal to epithelial transition factor ( “MET”) amplification after prior EGFR-TKI therapy. In March 2026, HS-10587 tablets, a Class 1 innovative medicine self-developed by the Group, obtained a Clinical Trial Approval issued by the NMPA, which is intended to be investigated in clinical trials for MTAP-deleted advanced solid tumors. In March 2026, HS-20152 injection, a Class 1 innovative medicine self-developed by the Group, obtained a Clinical Trial Approval issued by the NMPA, which is intended to be investigated in clinical trials for paroxysmal nocturnal hemoglobinuria ( “PNH”).
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3 In March 2026, the Group ’s innovative medicine XINYUE (൳®) (Inebilizumab Injection) was granted drug registration approval by the NMPA for its third indication, in respect of which XINYUE is used in combination with conventional therapeutic drugs for the treatment of adult patients with generalized myasthenia gravis ( “gMG”) who are positive for anti-acetylcholine receptor (AChR) or anti-muscle-specific tyrosine kinase (MuSK) antibodies. In April 2026, the Group ’s self-developed B7-H3-directed antibody-drug conjugate ( “ADC”) HS-20093 for injection in combination with adebrelimab obtained approval to be included as Breakthrough-Therapy-Designated Drug by the NMPA, with the proposed indication for locally advanced or metastatic non-squamous NSCLC without actionable genomic alterations (“non-AGA ”) that has progressed or relapsed after platinum-based chemotherapy. Subsequently, HS-20093 for injection was further approved by the NMPA to be included as Breakthrough- Therapy-Designated Drug for two indications, namely: in April 2026, advanced castration-resistant prostate cancer previously treated with novel endocrine therapy and taxane-based chemotherapy; and in May 2026, unresectable locally advanced or metastatic esophageal squamous cell carcinoma that failed prior first-line treatment with platinum-based chemotherapy and immune checkpoint inhibitors ( “ICI”). In April 2026, HS-10522 tablets, a Class 1 innovative medicine self-developed by the Group, has obtained two Clinical Trial Approvals issued by the NMPA, which are intended to be investigated in clinical trials for the treatment of uncontrolled hypertension (uHTN) and the treatment of primary aldosteronism (PA), respectively. In May 2026, HS-10541 tablets, a Class 1 innovative medicine self-developed by the Group, obtained a Clinical Trial Approval issued by the NMPA, which is intended to be investigated in clinical trials for the treatment of patients with KRAS G12C-mutated advanced solid tumors. In May 2026, the Group ’s self-developed fourth-generation EGFR-TKI HS-10504 tablets obtained approval to be included as Breakthrough-Therapy-Designated Drug by the NMPA, with the proposed indication for locally advanced or metastatic NSCLC harboring the EGFR C797S mutation after prior EGFR-TKI therapy failure. In June 2026, the Biologics License Application of the Group ’s innovative medicine Olatorepatide Injection was accepted by the NMPA for chronic weight management in obese or overweight adult patients. In June 2026, the NDA of HS-10568 injection (collaborator code SHR6508) was accepted by the NMPA for secondary hyperparathyroidism ( “SHPT”) in adult patients with chronic kidney disease (“CKD”) undergoing hemodialysis. In June 2026, the Group entered into an exclusive license agreement with Avere Therapeutics, Inc. ( “Avere ”) for HS-20118 (collaborator code AVR-001), a cyclic peptide interleukin-23 (“IL-23 ”) receptor antagonist. Avere was granted an exclusive license to develop, manufacture and commercialize HS-20118 globally (excluding the Chinese Mainland, Hong Kong, Macau and Taiwan).
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4 The Group has improved steadily in environmental, social and governance ( “ESG”) aspects. During the Reporting Period, the Group ’s MSCI ESG rating was upgraded to the highest level of AAA, achieving a globally leading position. The Group was again selected for inclusion in the Sustainability Yearbook (Global Edition) 2026 and Sustainability Yearbook (China Edition ) 2026 published by S&P Global, and ranked in the top 1% of the Chinese pharmaceutical industry. It not only indicates the Company ’s past achievements in the ESG field, but also represents our long- term commitment and strategic plan for sustainable development. Events after the Reporting Period are set out below: In July 2026, HS-20136-2 injection, a Class 1 innovative medicine self-developed by the Group, obtained two Clinical Trial Approvals issued by the NMPA, which are intended to be investigated in clinical trials for type 2 diabetes mellitus ( “T2DM”) and weight management, respectively. In July 2026, Avere (an investee company of the Company) and NextCure, Inc., a company listed on Nasdaq (NASDAQ: NXTC) entered into a merger agreement, pursuant to which Avere will be merged into NextCure. In July 2026, HS-20093 met the primary endpoint of overall survival ( “OS”) in a pivotal Phase III clinical trial (ARTEMIS-008) for patients with advanced or relapsed small cell lung cancer (“SCLC”) after prior platinum-based therapy. In July 2026, HS-20093 met the primary endpoint of progression-free survival ( “PFS”) assessed by the Independent Review Committee ( “IRC”) in the pivotal Phase III clinical trial (ARTEMIS-011) for patients with osteosarcoma who had progressed or relapsed after receiving at least two prior lines of systemic therapy. In August 2026, HS-10582 tablets, a Class 1 innovative medicine self-developed by the Group, obtained a Clinical Trial Approval issued by the NMPA, which is intended to be investigated in clinical trials for the treatment of adult patients with primary hypercholesterolemia and mixed dyslipidemia. Save as disclosed above, there is no material event affecting the Company during the period from June 30, 2026 to the date of this announcement. The website of the Group: www.hspharm.com/
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5 MANAGEMENT DISCUSSION AND ANALYSIS Industry Review As the inaugural year of the 15th Five-Year Plan, the first half of 2026 saw rapid development in the pharmaceutical industry, propelled by robust top-level policy design. In March, the Report on the Work of the Government designated the biopharmaceutical sector as an “emerging pillar industry ” at the national level for the first time, marking the entry of pharmaceutical innovation into national core strategic arenas. In April, the General Office of the State Council issued the Several Opinions on Improving the Drug Price Formation Mechanism (Җ ʍจԈ) to optimize the first-launch pricing mechanism for new medicines, such as innovative medicines, and to promote diversified payment and rational pricing of innovative medicines. Policy signals were released in concentrated manner across key stages, including new medicines research and development, review and approval, and medical insurance reimbursement, which have rapidly translated into strong momentum for the development of the industry. During the first half of the year, both the number of innovative medicines approved for marketing and the scale of out-licensing transactions reached record highs. China has firmly maintained its position as the world ’s second-largest pharmaceutical market with its investigational medicines accounting for approximately 30% of the global total, while the proportion of high value-added formulation in exports continued to increase. The Chinese innovative pharmaceutical industry is fully transitioning from the “follower ” phase to the “frontrunner ” phase. Business Highlights For the six months ended June 30, 2026, the Group recorded revenue of approximately RMB8,304 million, representing an increase of approximately 11.7% compared with the corresponding period of the previous year; profit of approximately RMB4,258 million, representing an increase of approximately 35.8% compared with the corresponding period of the previous year; basic earnings per share of approximately RMB0.70, representing an increase of approximately 33.1% compared with the corresponding period of the previous year; revenue of innovative medicines amounted to approximately RMB7,092 million, and its proportion of total revenue increased to approximately 85.4%. We generate our revenue primarily from sales of pharmaceutical products. Our main products are concentrated in the main therapeutic areas on which the Group strategically focuses. The increase in profit and basic earnings per share during the Reporting Period was primarily due to the combined effect of the increase in revenue of innovative medicines and the increase in other income.
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6 For the six months ended June 30, 2026, the revenue and product portfolio of our therapeutic areas are as follows: Therapeutic Area Product Portfolio Oncology area (revenue amounted to approximately RMB5,473 million, accounting for approximately 65.9% of the total revenue) Innovative medicine Ameile (Aumolertinib Mesylate Tablets), innovative medicine Hansoh Xinfu (Flumatinib Mesylate Tablets), Pulaile (Pemetrexed Disodium for Injection), Pulaitan (Enzalutamide Soft Capsules) and Xinwei (Imatinib Mesylate Tablets), etc. Non-oncology areas (revenue amounted to approximately RMB2,831 million, accounting for approximately 34.1% of the total revenue) Innovative medicine Hengmu (Tenofovir Amibufenamide Tablets), innovative medicine XINYUE (Inebilizumab Injection), innovative medicine Fulaimei (Polyethylene Glycol Loxenatide Injection), innovative medicine Saint Luolai (Pegmolesatide Injection), Hengsen (Micafungin Sodium for Injection), Ameining (Agomelatine Tablets), Ailanning (Paliperidone Extended-Release Tablets), Oulanning (Olanzapine Tablets/ Orally Disintegrating Tablets/Oral Soluble Films), Fulaidi (Repaglinide Tablets) and Punuoan (Ambrisentan Tablets), etc. Innovative Medicine Products Ameile (ᆀ ®) Ameile (Aumolertinib Mesylate Tablets), self-developed by the Group, is the first original third-generation EGFR-TKI innovative medicine in China. In March 2020, it was approved for the treatment of patients with locally advanced or metastatic NSCLC with T790M mutation positive, who have progressed on or after EGFR-TKI therapy. In December 2021, it was approved as the first-line treatment for adult patients with locally advanced or metastatic NSCLC whose tumors have EGFR exon 19 deletions or exon 21 (L858R) substitute mutation positive. In March 2025, it was approved for the treatment of patients with locally advanced, unresectable NSCLC whose disease has not progressed following definitive platinum-based chemoradiotherapy whose tumors have EGFR exon 19 deletions or exon 21 (L858R) substitute mutations. In May 2025, it was approved for the treatment of adult patients with stage II to IIIB NSCLC whose tumors have EGFR exon 19 deletions or exon 21 (L858R) substitute mutations, and who have undergone tumor resection with or without prior adjuvant chemotherapy as determined by their physician. In June 2025, it was approved by the Medicines and Healthcare products Regulatory Agency (MHRA) in the UK for marketing.
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7 Ameile is continuously expanding its indications. In January 2026, the fifth indication of Ameile was approved, in combination with pemetrexed and platinum-based chemotherapy to be used as the first-line treatment of adult patients with locally advanced or metastatic NSCLC whose tumors have EGFR exon 19 deletions or exon 21 (L858R) mutations. As of the date of this announcement, the first to fourth indications of Ameile have been included in the National Reimbursement Drug List ( “NRDL”), continuously enhancing patient accessibility. Ameile continues to strengthen its evidence base. As of the date of this announcement, Ameile has been recommended as Class I or Preferred by multiple national diagnosis and treatment guidelines, including the Chinese Society of Clinical Oncology ( “CSCO”) Guidelines for the treatment of Non-small Cell Lung Cancer (2026 Edition) * (ᐖ یܸ2026 و)). During the Reporting Period, six academic achievements of Ameile were presented at authoritative conferences such as the European Lung Cancer Congress ( “ELCC”) and the American Society of Clinical Oncology Annual Meeting ( “ASCO”), and eight were published in top academic journals such as The Lancet Oncology , CA:A Cancer Journal for Clinicians and Journal of Thoracic Oncology . In January 2026, the ARTS study, a Phase III clinical trial of Aumolertinib as adjuvant therapy for patients with stage II-IIIB EGFR-mutated NSCLC, was published in The Lancet Oncology (Impact Factor: 33.7). The study results showed that Aumolertinib could significantly improve the disease- free survival (DFS) of patients of stage II to IIIB NSCLC with EGFR mutations and whose tumors have been fully resected, with a favorable safety profile. In March 2026, the first prospective, randomized and multicenter Phase III trial (ACROSS 2 study) specifically targeting EGFR-positive NSCLC patients with concomitant tumor-suppressor gene (TSG) co-mutation was published in CA: A Cancer Journal for Clinicians (Impact Factor: 685.2). The results showed that when compared with Aumolertinib monotherapy, the treatment by Aumolertinib in combination with Carboplatin-Pemetrexed demonstrated a statistically significant and clinically meaningful improvement in PFS. In June 2026, the Phase III trial (AENEAS 2 study) for Aumolertinib in combination with platinum-based chemotherapy as first-line treatment for advanced NSCLC with EGFR-sensitive mutations was published in The Lancet Oncology (Impact Factor: 33.7). The results showed that Aumolertinib in combination with platinum-based doublet chemotherapy could significantly improve the PFS of advanced NSCLC patients who have EGFR sensitive mutations, with overall manageable safety. In June 2026, the Aumolertinib NEOVADE study was orally presented at the Clinical Science Symposium of ASCO 2026. The study explored for the first time a neoadjuvant treatment of Aumolertinib followed by chemo-IO, demonstrating excellent early survival benefits and pathological downstaging effects.
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8 In July 2026, the results of the Aumolertinib ACTIVE study were published in Journal of Thoracic Oncology (Impact Factor: 23.3). This is the world ’s first prospective “treatment switching ” study targeted at patients with third-generation EGFR-TKI (Osimertinib) intolerance. The study results showed that among patients who switched to Aumolertinib following Osimertinib intolerance, the three-month treatment-switch success rate was 70.6%, the median progression-free survival (“mPFS”) period was 11.6 months, and the disease-control rate was 86.5%. The ACTIVE study has provided an evidence-based reference for the subsequent treatment of NSCLC patients who are intolerant to Osimertinib. During the Reporting Period, Aumolertinib has made additional global progress, including: In February 2026, Aumolertinib Mesylate Tablets (trade name in China: Ameile (ᆀ®), overseas trade name: Aumseqa ®) was approved in the EU as monotherapy for: (i) the first-line treatment of adult patients with advanced NSCLC whose tumors have EGFR exon 19 deletions or exon 21 (L858R) substitution mutations; and (ii) the treatment of adult patients with advanced EGFR T790M mutation-positive NSCLC. Aumolertinib Mesylate Tablets became the first EGFR- TKI original medicine developed in China that was approved for marketing in the EU. In August 2026, all five NMPA-approved indications of Aumolertinib were also approved for marketing by the Pharmaceutical Administration Bureau of Macau Special Administrative Region of the PRC, covering the first-line and second-line treatment of advanced NSCLC with classic EGFR mutations, post-chemoradiotherapy consolidation for locally advanced disease, post-surgical adjuvant therapy, and first-line targeted therapy in combination with chemotherapy. Hansoh Xinfu (၅ ®) Hansoh Xinfu (Flumatinib Mesylate Tablets) is the first original novel second-generation TKI for chronic myeloid leukemia in China, which was approved in 2019. In 2020, Hansoh Xinfu was included in the NRDL for the first time and was successfully renewed in November 2024, and is currently within the term of the agreement. For the treatment of chronic myeloid leukemia, based on results of existing clinical trials, compared with first-generation TKIs, Hansoh Xinfu achieved faster and deeper molecular remission (e.g. MMR, MR4.5), and compared to second-generation and other TKIs, it has comparable depth of remission and durable efficacy. Hansoh Xinfu also has favorable safety profile, with no specific adverse reactions (such as pleural effusion or cardiotoxicity) relating to the use of other second-generation BCR-ABL TKI treatments being found. Further, no adverse reactions (such as hypertension or elevated lipase) related to STAMP allosteric inhibitor treatment have been reported, and it has been adopted for long-term application by an increasing number of patients. Both the Guidelines for the Diagnosis and Treatment of Chronic Myeloid Leukemia (2022 Edition) * (یܸ2022 و)) issued by the National Health Commission of the PRC and the Guidelines for Diagnosis and Treatment of Malignant Hematologic Diseases (2025) * (یܸ2025)) issued by the CSCO recommended Hansoh Xinfu as the first-line treatment of chronic myeloid leukemia. The Guideline for the Diagnosis and Treatment of Chronic Myeloid Leukemia in China (2025 Edition) * ( یܸ2025و)) recommended Flumatinib for first-line and subsequent line switching treatment of chronic myeloid leukemia.
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9 In June 2026, multiple studies relating to Hansoh Xinfu were presented at the 31st Annual Congress of the European Hematology Association of 2026 (EHA 2026), encompassing real-world efficacy validation, optimization of combination therapy strategies and exploration of prognostic factors. These studies provide robust clinical evidence for the long-term standardized management of chronic myeloid leukemia. The clinical efficacy and safety of Hansoh Xinfu are continuing to gain recognition within the international academic community. XINYUE (൳®) XINYUE (Inebilizumab Injection) is a targeted CD19 B-cell depleting antibody and the world ’s first humanized CD19 monoclonal antibody approved for the treatment of adult patients with anti-aquaporin-4 ( “AQP4”) antibody-positive neuromyelitis optica spectrum disorder ( “NMOSD ”). In May 2019, the Group entered into a license agreement with Viela Bio Inc. (which was acquired by Horizon Therapeutics plc in 2021, and the latter was acquired by Amgen INC in 2023) to obtain an exclusive license to develop and commercialize the product in Chinese Mainland, Hong Kong and Macau. In March 2022, the product was approved by the NMPA in China and is indicated for the treatment of adult NMOSD patients who are AQP4 antibody positive. In January 2023, XINYUE was included in the NRDL for the first time and was successfully renewed in November 2024, and is currently within the term of the agreement. In August 2025, the second indication for XINYUE was approved for the treatment of adult patients with IgG4-related disease. During the Reporting Period, XINYUE further expanded its scope of indications. In March 2026, the third indication for XINYUE was approved to be used in combination with conventional therapeutic drugs for the treatment of adult patients with gMG who are positive for anti- acetylcholine receptor (AChR) or anti-muscle-specific tyrosine kinase (MuSK) antibodies. In April 2026, the results of nine real-world studies of XINYUE involving Chinese patients were selected for the 78th Annual Meeting of the American Academy of Neurology (AAN) in 2026. The study results demonstrated that Inebilizumab showed significant efficacy and a favorable safety profile in patients with NMOSD and gMG, effectively reducing the disease relapse rate, improving disability scores, maintaining stable B-cell levels, and significantly enhancing patient treatment satisfaction and quality of life.
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10 Fulaimei (ߕ®) Fulaimei (Polyethylene Glycol Loxenatide Injection) is the first innovative medicine launched leveraging the Group ’s proprietary PEGylation technology. It is the first original GLP-1 receptor agonist ( “GLP-1RA ”) weekly formulation in China and the world ’s first PEG GLP-1RA weekly formulation, which was approved in May 2019 for the treatment of T2DM. Fulaimei provides a new treatment option that is safe, effective and convenient for T2DM patients in China, with clear efficacy in lowering blood glucose, combined with weight loss, lowering of cholesterol and blood pressure, renal and cardiovascular benefits, as well as low incidence of gastrointestinal reactions and hypoglycemic adverse events, while requiring only one subcutaneous injection per week. In 2020, Fulaimei was included in the NRDL for the first time and was successfully renewed in November 2024, and is currently within the term of the agreement. During the Reporting Period, abstracts of multiple real-world studies of Fulaimei were selected for international academic conferences, including 2026 European Congress of Internal Medicine (“ECIM”) and 2026 European Congress of Endocrinology ( “ECE”). In March 2026, two real-world studies of Fulaimei, namely FIGHTING-2 and FIGHTING-3, were selected for the ECIM, further solidifying its leading position in cardiovascular protection compared to DPP-4i and certain imported GLP-1RAs in real-world clinical settings. In May 2026, two real-world studies of Fulaimei were selected for the ECE, focusing on cardiovascular and renal outcomes. This fully demonstrated its important clinical value in the comprehensive management of T2DM patients, and provided a solid evidence-based foundation for the individualized and full-course metabolic management of Chinese T2DM patients. During the Reporting Period, multiple study findings related to Fulaimei were published in internationally renowned journals, including Frontiers in Endocrinology , Journal of Endocrinological Investigation and Molecular Metabolism. In January 2026, Frontiers in Endocrinology published a randomized controlled clinical study, demonstrating for the first time the remarkable efficacy of Fulaimei in patients with severe obesity combined with T2DM, which provided important evidence-based medical support for the pharmacological treatment of such specific population. In February 2026, a clinical observational study jointly conducted by 16 domestic hospitals demonstrated for the first time in the T2DM population that Fulaimei in combination with standard therapy not only effectively controls blood glucose, body weight and blood lipids, but also significantly improves the cognitive function and emotional state of patients. This study provided new treatment insights and evidence support for the comprehensive management of T2DM, particularly for patients at risk of cognitive decline. The study results were published in the Journal of Endocrinological Investigation .
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11 In June 2026, Molecular Metabolism , an authoritative journal in the field of endocrinology and metabolism, published the Study on the Mechanism of Long-acting GLP-1 Receptor Agonist PEG- Loxenatide in Diabetic Osteoporosis , which systematically reported for the first time the bone protective potential of Fulaimei in diabetic osteoporosis, providing preliminary evidence for the application of such medicine in the field of bone metabolism. In addition, Fulaimei has been successively included in multiple authoritative guidelines and consensuses, such as the Guidelines for the Prevention and Treatment of Diabetes Mellitus in China (2024 Edition)* (یܸط2024و)), the National Guidelines for the Prevention and Control of Diabetes in Primary Care (2025 Edition)* (یܸ2025)), the Guidelines for the Management of Diabetes Mellitus in the Elderly in China (2024 Edition)* (یܸ2024و)), the Expert Consensus on the Diagnosis and Treatment of Diabetes Mellitus Patients with Cardiovascular Disease* ( ᗆ), the Expert Consensus on Weight Management in Patients with Diabetes Mellitus (2024 Edition)* (ᗆ (2024و)) and the Chinese Expert Consensus on the Comprehensive Management of Patients with Cardiovascular-Kidney-Metabolic Syndrome * (ːА ᗆ). In March 2026, Fulaimei was included in the Clinical Guidelines for the Prevention and Treatment of Type 2 Diabetes in the Elderly in China (2026 Edition)* (ʕϼϋ 2 یܸ2026و)). Hengmu ( 㛬ӕ®) Hengmu (Tenofovir Amibufenamide Tablets) is a novel nucleotide reverse transcriptase inhibitor (NRTI) self-developed by the Group, which is the first originally developed oral dose medicine indicated for the treatment of hepatitis B virus infection in China. Hengmu was approved by the NMPA in June 2021 for the treatment of adult patients with chronic hepatitis B. In the same year, Hengmu was included in the NRDL for the first time and was successfully renewed for inclusion in the 2025 NRDL in December 2025. The 48-week, 96-week and 144-week results of the phase III registration clinical study and the research data of the phase IV study with a follow-up period of up to 5 years (240 weeks) of Hengmu have been published in several academic journals and international conferences. The results of the studies strongly confirmed the efficacy and safety of Hengmu in the long-term treatment of patients with chronic hepatitis B. Specifically, in terms of bone and renal safety, Hengmu demonstrates advantages over tenofovir disoproxil fumarate (TDF). As of the date of this announcement, Hengmu has been successively recommended by 17 domestic and overseas guidelines and consensuses, including the Asian-Pacific Clinical Practice Guidelines on the Management of Chronic Hepatitis B (2026 Edition)* (ܸ ی2026و)). Findings on multiple clinical studies of Hengmu were presented at top international academic conferences in the field of hepatology, including the American Association for the Study of Liver Diseases (AASLD) Annual Meeting, the European Association for the Study of the Liver (EASL) Annual Meeting and the Asian Pacific Association for the Study of the Liver (APASL) Annual Meeting, and were published in domestic and international journals such as Alimentary Pharmacology & Therapeutics , Frontiers In Pharmacology , World Journal of Gastroenterology , Journal of Clinical and Translational Hepatology and Chinese Journal of Hepatology .
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12 Saint Luolai ( ໋ᖯഺ ®) Saint Luolai (Pegmolesatide Injection), self-developed by the Group, is the “only class 1 small molecule peptide chemical drug approved worldwide in the field of renal anemia treatment ”. In June 2023, Saint Luolai was approved for two indications to treat anemia in CKD adult patients who have not received erythropoiesis-stimulating agent and are not on dialysis, as well as those who are receiving short-acting erythropoietin treatment and on dialysis. In 2023, Saint Luolai was included in the NRDL for the first time and was successfully renewed for inclusion in the 2025 NRDL in December 2025. Saint Luolai has high affinity and selectivity to erythropoietin ( “EPO”) receptor. It effectively promotes erythropoiesis and assists in reducing potential safety risks. The data of the phase III pivotal registrational clinical trial of Saint Luolai (published in eClinicalMedicine , a subset of The Lancet , in 2023) demonstrated that subcutaneous injection of Saint Luolai once a month is as effective and safe as fast-acting recombinant human erythropoietin ( “rHuEPO ”) conventionally administered 1 to 3 times a week in treating anemia in Chinese dialysis patients. It even shows a trend of superiority and a lower incidence of adverse cardiovascular events. Latest post-hoc analyses have demonstrated that the risk of adverse cardiovascular events in the Saint Luolai group was lower than that in the rHuEPO group in both dialysis and non-dialysis patients. A mechanistic study further suggested that the favorable cardiovascular safety profile of Saint Luolai may be attributable to its high selectivity for the EPO receptor. Post-hoc analyses also revealed that, among non-dialysis patients, the Saint Luolai group exhibited higher iron utilization rates and lower iron supplementation requirements compared with the rHuEPO group. Recent studies also found that Saint Luolai ’s prolonged anti-anemia effect not only results from higher pharmacokinetic half-life due to PEGylation, but is also related to mechanisms such as Pegmolesatide ’s enhanced EPO receptor binding stability. As of the date of this announcement, multiple study findings of Saint Luolai have been published in top-tier journals or medical conferences, including eClinicalMedicine, Kidney International Reports, Journal of Translational Medicine, International Immunopharmacology, Frontiers in Pharmacology, as well as the American Society of Nephrology (ASN) Kidney Week, the International Society of Nephrology (ISN) and the World Congress of Nephrology (WCN). With its innovative structure, unique mechanism of action and solid clinical evidence, Saint Luolai has been recommended by multiple guidelines and consensuses, including the Clinical Practice Guideline for Delaying the Progression of Chronic Kidney Disease (2025 Edition)* (یܸ2025و)), the Chinese Clinical Practice Guidelines for the Management of Peridialysis-Related Chronic Kidney Disease (2025 Edition)* (ʕ یܸ2025و)), the Chinese Expert Consensus on the Clinical Management of Renal Anemia in Patients undergoing Maintenance Hemodialysis (2026 Edition)* (ᗆ (2026و)), the Chinese Expert Consensus on Long-acting Erythropoiesis-stimulating Agents in the Treatment of Renal Anemia (2024 Edition)* (ᗆ (2024و) ) and the Chinese Expert Consensus on Guiding Self-management of Patients with Renal Anemia (2024 Edition)* (ᗆ (2024و)).
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13 R&D and Innovation Innovation is the core driver of the Company ’s development. The Group has consistently increased its investment in R&D year by year, established comprehensive R&D platforms, and built a portfolio of proprietary technologies. It has successfully developed and commercialized multiple innovative medicines, while advancing a pipeline of innovative medicines across various stages of development. Our professional R&D team consists of over 2,500 research fellows at four R&D centres located in Maryland, United States, and Shanghai, Changzhou and Lianyungang, China. We have several national-level R&D designations, including the National Technology Center* ( ॴҦஔʕː ), Post-doctoral Research Station* (ʈЪ१ ) and Key National Laboratory* (܃.) During the six months ended June 30, 2026, we submitted eight formal patent applications in China and 92 formal patent applications overseas, and were granted 57 patents globally. R&D pipeline update During the six months ended June 30, 2026, the Group had more than 70 clinical trials of innovative medicines being investigated, covering more than 40 innovative medicine candidates. During the Reporting Period, we had four new innovative medicine candidates entering clinical stage, including HS-20152 (for PNH); HS-10587 (for MTAP-deleted advanced solid tumors); HS- 10522 (for uncontrolled hypertension (uHTN) and primary aldosteronism (PA)); HS-10541 (for KRAS G12C-mutated advanced solid tumors). During the Reporting Period, three new phase III pivotal registration clinical trials were added, including: self-developed B7-H3-directed ADC HS-20093 (for 2L non-AGA NSCLC, esophageal squamous cell carcinoma); self-developed Orexin Receptors (OXR)-targeted HS-10506 (for insomnia).
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14 R&D progress of oncology key pipeline candidates Risvutatug Rezetecan (HS-20093) HS-20093, a B7-H3-directed ADC self-developed by the Group, is composed of a fully human anti-B7-H3 monoclonal antibody covalently linked to topoisomerase inhibitor (TOPOi) payload. In December 2023, the Group entered into an exclusive license agreement with GlaxoSmithKline Intellectual Property (No. 4) Limited ( “GSK”), pursuant to which GSK was granted an exclusive worldwide license (excluding the Chinese Mainland, Hong Kong, Macau and Taiwan) to develop, manufacture and commercialize the product. During the Reporting Period, HS-20093 was successfully advanced to clinical trials for multiple indications in the PRC: its use for the treatment of 2L non-AGA non-squamous NSCLC and esophageal squamous cell carcinoma has entered into the Phase III, while proofs of concept (PoC) clinical studies for the treatment of head and neck squamous cell carcinoma (HNSCC), castrate- resistant prostate cancer and other solid tumors were also advancing concurrently. In July 2026, HS-20093 met the primary endpoint of OS in a pivotal Phase III clinical trial (ARTEMIS-008) for patients with advanced or relapsed SCLC after prior platinum-based therapy. In July 2026, HS-20093 met the IRC-PFS primary endpoint in a pivotal Phase III clinical trial (ARTEMIS-011) for patients with osteosarcoma who had progressed or relapsed after at least two prior lines of systemic therapy. During the Reporting Period, HS-20093 was granted three Breakthrough-Therapy-Designated Drugs by the NMPA as follows: In April 2026, HS-20093 for injection in combination with adebrelimab for locally advanced or metastatic non-squamous NSCLC without actionable genomic alterations that has progressed or relapsed after platinum-based chemotherapy. In April 2026, HS-20093 for injection for advanced castration-resistant prostate cancer previously treated with novel endocrine therapy and taxane-based chemotherapy. In May 2026, HS-20093 for injection for unresectable locally advanced or metastatic esophageal squamous cell carcinoma that failed prior first-line treatment with platinum-based chemotherapy and ICI.
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15 As of the date of this announcement, it has obtained a total of 12 regulatory designations in China, the United States, Europe and Japan, covering multiple solid tumor indications with high clinical demand. In addition to the three aforementioned NMPA Breakthrough-Therapy-Designated Drugs, it also includes three Breakthrough-Therapy-Designated Drugs granted by the NMPA: in November 2024, for extensive-stage small-cell lung cancer ( “ES-SCLC ”) developed after standard first- line treatment (platinum doublet chemotherapy combined with immunotherapy); in February 2025, for the treatment of patients with osteosarcoma who have progressed on at least two prior lines of therapy; in April 2025, for locally advanced or metastatic non-squamous NSCLC without actionable genomic alterations that has progressed or recurred following platinum-based chemotherapy. Two Breakthrough Therapy Designations and one Orphan Drug Designation ( “ODD ”) were granted by the U.S. Food and Drug Administration (FDA): in August 2024, for the treatment of patients with ES-SCLC with disease progression on or after platinum-based chemotherapy (relapsed or refractory); in January 2025, for the treatment of adult patients with relapsed or refractory osteosarcoma (bone cancer) who have progressed on at least two prior lines of therapy; in December 2025, for the treatment of SCLC. One Priority Medicines (PRIME) designation and one ODD were granted by the European Medicines Agency (EMA): in December 2024, for the treatment of patients with relapsed ES- SCLC; in October 2025, for the treatment of pulmonary neuroendocrine cancer, including SCLC. One ODD was granted by the Ministry of Health, Labour and Welfare of Japan: in March 2026, for the treatment of SCLC. During the Reporting Period, multiple clinical studies of HS-20093 were presented at international academic conferences or published in authoritative journals: In February 2026, the Phase II study of HS-20093 for the treatment of patients with metastatic castrate-resistant prostate cancer ( “mCRPC ”) was presented at the 2026 ASCO Genitourinary Cancers Symposium (GU). The results showed that HS-20093 demonstrated favorable anti-tumor activity in both taxane-pretreated and taxane-naïve mCRPC patients, with an overall manageable safety profile. In March 2026, the Phase Ia/b study of HS-20093 was published in Cancer Cell . The results showed that HS-20093 demonstrated clinically meaningful anti-tumor activity in lung cancer patients who had previously received multiple lines of therapy. In April 2026, the Phase I study of HS-20093 in combination with adebrelimab for the treatment of patients with non-squamous NSCLC without actionable genomic alterations was presented at the 2026 American Association for Cancer Research ( “AACR”) Annual Meeting. The results demonstrated encouraging anti-tumor activity and an overall manageable safety profile. In June 2026, the positive Phase II study results of HS-20093 for the treatment of patients with relapsed or refractory osteosarcoma and soft tissue sarcoma (STS) were presented at the 2026 European Society for Medical Oncology Targeted Anticancer Therapies Asia (ESMO TAT Asia) Congress, demonstrating durable anti-tumor activity and a manageable safety profile in both indications.
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16 Mocertatug Rezetecan (HS-20089) HS-20089 is a B7-H4-targeted ADC self-developed by the Group. In October 2023, the Group entered into an exclusive license agreement with GSK, pursuant to which the Group granted GSK an exclusive global license (excluding Chinese Mainland, Hong Kong, Macau and Taiwan) to develop, manufacture and commercialize this product. In May 2025, HS-20089 was approved by the NMPA as Breakthrough-Therapy-Designated Drug for the proposed indication of treatment of patients with platinum-resistant recurrent epithelial ovarian cancer, fallopian tube cancer or primary peritoneal cancer. During the Reporting Period, HS-20089 made smooth progress in multiple clinical trials for various indications in China, including a Phase III clinical study for platinum-resistant ovarian cancer and proof-of-concept (PoC) studies for the treatment of other solid tumors. In February 2026, the results of two clinical studies of HS-20089 in patients with platinum- sensitive ovarian cancer (PSOC) were presented at the 2026 European Society of Gynaecological Oncology (ESGO) Congress, as follows: HS-20089-103 Study, a Phase I study designed to evaluate HS-20089 combination therapies in patients with advanced solid tumors. The results demonstrated that, among patients with platinum- sensitive recurrent ovarian cancer, with a median follow-up period of 3.9 months, HS-20089 in combination with bevacizumab exhibited favorable anti-tumor activity with confirmed objective response rate ( “cORR”) at 72.2%, and manageable safety. Consistent with the previously reported known safety profile, no new or additive toxicities were observed. HS-20089-201 Study, a Phase II study designed to evaluate the efficacy, safety, pharmacokinetics and immunogenicity of HS-20089 in Chinese patients with recurrent or metastatic ovarian cancer and endometrial cancer. The results demonstrated that, among heavily pretreated patients with platinum-sensitive recurrent ovarian cancer, with a median follow-up period of 16.6 months, three patients achieved complete response (CR), and the cORR was 64.5%. The median duration of response (DoR) was 13.8 months, and the mPFS was 14.1 months. The safety profile of monotherapy was manageable and consistent with prior clinical experience. HS-20122 HS-20122 is a bispecific ADC developed based on HS-20117 that targets EGFR/c-MET. In March 2024, the Group entered into a license agreement with Biotheus Inc. ( “Biotheus ”, which was acquired by Biopharmaceutical New Technologies in February 2025) and obtained an exclusive license from Biotheus to use bispecific antibody targeting EGFR/c-MET, including HS-20117, globally for the development, production and commercialization of ADC products, with the right of sublicense.
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17 Dalmelitinib Mesylate Tablets (HS-10241) Dalmelitinib Mesylate Tablets is an orally administered and highly selective c-MET TKI self- developed by the Group, for the treatment of patients with locally advanced or metastatic EGFR mutation-positive NSCLC whose tumors have MET amplification after failure of prior EGFR-TKI therapy. In February 2026, the NDA for Dalmelitinib Mesylate Tablets in combination with Aumolertinib Mesylate Tablets (Ameile ᆀ ®) has been accepted by the NMPA. In March 2026, the 2026 ELCC presented the Phase Ib study data of Dalmelitinib Mesylate Tablets in combination with Aumolertinib Mesylate Tablets for the treatment of patients with locally advanced or metastatic EGFR mutation-positive NSCLC whose tumors have MET amplification after failure of prior EGFR-TKI therapy. The study results demonstrated that Dalmelitinib in combination with Aumolertinib exhibited encouraging clinical anti-tumor activity and a manageable safety profile in 115 efficacy-evaluable NSCLC patients. Specifically, mPFS was 7.4 months and median OS was 25.4 months. Among the evaluable patients, >85% had previously undergone third-generation EGFR-TKI therapy, which aligns more closely with clinical practice; furthermore, compared with previous reports, this study covered broader detection thresholds for MET amplification. In terms of safety, the combination therapy was well tolerated, with most of the treatment-emergent adverse events ( “TEAEs”) being Grade 1-2 and generally reversible. No new safety signals were identified. HS-10504 HS-10504 is a novel, potent and highly selective fourth-generation EGFR-TKI self-developed by the Group. As of the date of this announcement, it has entered Phase III clinical trials in patients with NSCLC. In April 2026, the results of the first-in-human Phase I study of HS-10504 in patients with advanced NSCLC were presented at the 2026 AACR Annual Meeting. The study results demonstrated that HS-10504 exhibited notable anti-tumor activity in patients with NSCLC harbouring the EGFR C797S mutation. Given its rapid onset of action, durable remission and manageable safety profile, it has the potential to become a new treatment option for these patients with poor prognosis and currently no targeted therapy options. In May 2026, HS-10504 was approved by the NMPA as Breakthrough-Therapy-Designated Drug, with the proposed indication for patients with locally advanced or metastatic NSCLC with EGFR C797S mutations who have failed EGFR-TKI therapy. HS-10365 HS-10365 capsules is a highly selective RET inhibitor self-developed by the Group. In October 2025, its NDA was accepted by the NMPA for the treatment of adult patients with RET fusion- positive locally advanced or metastatic NSCLC.
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18 R&D progress of non-oncology key pipeline candidates Olatorepatide (HS-20094) Olatorepatide is a once-weekly subcutaneous injection GLP-1/GIP receptor dual agonist self- developed by the Group, which serves to modulate the metabolic pathways associated with appetite control, glucose metabolism and energy balance. By activating complementary insulinotropic pathways, Olatorepatide aims to achieve robust weight loss while maintaining a favorable tolerability profile. In March 2026, the Phase III clinical trial of Olatorepatide for the treatment of adults with obesity or overweight met its co-primary endpoints. The study results demonstrated that the Olatorepatide group achieved a mean body weight reduction from baseline of up to 19.3% at Week 48, and up to 97.2% of subjects achieved a body weight reduction of ≥5%, representing a statistically significant difference as compared with the placebo group. Olatorepatide also demonstrated favorable gastrointestinal tolerability, with an average incidence of nausea of <10% and an average incidence of vomiting of <5%. Compared with published Phase III clinical trial data for GLP-1-related dual agonists, Olatorepatide was associated with lower rates of gastrointestinal adverse events and treatment discontinuation. In June 2026, the NMPA accepted the Biologics License Application for Olatorepatide Injection for long-term weight management in adults with obesity or overweight. In June 2026, an in vitro pharmacology study report on Olatorepatide Injection was presented at the 2026 Endocrine Society Annual Meeting (ENDO). The results indicated that Olatorepatide, as a dual-biased GLP-1/GIP agonist, possesses a favorable GIP/GLP-1 activity ratio with reduced β-arrestin2 recruitment and receptor internalization at both GLP-1/GIP targets. This profile was specifically designed to minimize gastrointestinal adverse reactions while maintaining potent therapeutic effects. These in vitro characteristics provide a mechanistic prediction of its clinical performance.
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19 HS-20118 HS-20118 is a highly differentiated oral IL-23 receptor antagonist self-developed by the Group, which is in Phase II clinical study for the treatment of psoriasis, demonstrating the potential to be developed into a convenient once-weekly oral therapy. In May 2026, a Phase I clinical study of HS-20118 was presented at the 2026 Society for Investigative Dermatology (SID) Annual Meeting. The results showed that HS-20118 demonstrated promising efficacy signals and concordant biomarker responses, achieving therapeutic effects comparable to IL-23 monoclonal antibody therapies in participants with psoriasis, with a favorable safety profile. Among the patients with psoriasis, following only 4 weeks of treatment, it demonstrated clinically significantly greater PASI improvements from baseline compared to the placebo group. Furthermore, PASI scores continued to decrease over the subsequent 6 weeks after treatment discontinuation: 100mg once a week ( “QW”) cohort: -39.1% at week 4, -58.0% at week 10; 25mg quaque die ( “QD”) cohort: -54.5% at week 4, -90.5% at week 10. At week 8, PASI 75 response rates were 33.3% in the 100mg QW cohort and 75.0% in the 25mg QD cohort. A similar trend was observed for IGA 0/1 response rate, with the 25mg QD cohort achieving a notably high IGA 0/1 response rate of 87.5%. HS-20118 has a favorable safety profile; only mild-to-moderate TEAEs were reported, with no dose-dependent relationship observed. Most TEAEs were transient and resolved/recovered without medical treatment. The incidence of moderate TEAEs was similar in Chinese and New Zealand participants in the single ascending dose ( “SAD”) trial. No serious adverse events ( “SAEs”) or TEAEs leading to withdrawal from the trial occurred. In June 2026, the Group entered into an exclusive license agreement with Avere for HS-20118 (collaborator code AVR-001), granting an exclusive license to Avere to develop, manufacture and commercialize HS-20118 globally (excluding the Chinese Mainland, Hong Kong, Macau and Taiwan). HS-10506 HS-10506 is a selective orexin-2 receptor (OX2R) antagonist self-developed by the Group, which is in Phase III clinical study for the treatment of insomnia. In April 2026, a Phase Ib/II clinical study was presented at the 2026 American Academy of Neurology Annual Meeting (AAN). The results showed that HS-10506 demonstrated sustained improvements in both subjective and objective sleep measures and favorable safety profiles across all doses. In Phase II clinical study, compared with the placebo group, the mean changes from baseline in the sleep latency (LPS D13/D14) of the HS-10506 20mg, 40mg and 60mg groups were -13.7 min (95% CI: -21.0, -6.4; P < 0.001), -16.6 min (95% CI: -23.8, -9.3; P < 0.001) and -18.8 min (95% CI: -26.1, -11.6; P < 0.001), respectively, all of which were statistically significant and clinically meaningful. In terms of safety profile, HS-10506 showed favorable safety profiles across all doses. No negative impact on alertness, cognitive function, depressive symptoms or anxiety symptoms was observed following the treatment. No rebound insomnia occurred following discontinuation of treatment.
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20 HS-10542 HS-10542 is a small molecule complement factor B inhibitor self-developed by the Group, which is in Phase II clinical study for complement-mediated diseases. In March 2026, a Phase I study of it was presented at the 2026 World Congress of Nephrology (WCN). The results showed that HS-10542 has demonstrated potential as a best-in-class, once- daily therapy for complement-mediated diseases, with a favorable safety and PK profile and robust alternative pathway (AP) inhibition within 24 hours. HS-10542 was rapidly absorbed, with a median Tmax of 1-2 hours. The terminal half-life ranged from 26-33 hours supporting a once- daily dosing regimen. HS-10542 has a favorable safety profile. No deaths, SAEs or severe adverse events (AEs) were reported. TEAEs were mild. TEAEs were comparable between the pooled HS- 10542 group and placebo group in SAD (62.5% vs. 62.5%) and in multiple ascending dose (MAD) (76.9% vs. 88.9%) parts. HS-10374 HS-10374 is a selective allosteric inhibitor of tyrosine kinase 2 ( “TYK2”) self-developed by the Group. In phase II clinical trial in patients with moderate-to-severe plaque psoriasis, HS-10374 demonstrated significant efficacy, with overall safety similar to other TYK2 inhibitors and a lower risk of skin-related toxicity. Currently, we are actively advancing phase III clinical studies of HS- 10374 in adult patients with moderate-to-severe plaque psoriasis. Business Development As an important part of our daily business, the Group pays close attention to the cutting-edge developments in the global pharmaceutical industry and proactively seizes opportunities for out-licensing and collaboration in Business Development ( “BD”). During the Reporting Period, the Company advanced clinical trials for eight in-licensed projects, with a further three in the commercialization stage, as well as several platform or technology collaboration projects. Meanwhile, the Group maximized the commercial value of its proprietary pipeline products and actively pursued out-licensing opportunities. On June 15, 2026, the Group entered into an exclusive license agreement with Avere for HS-20118 (collaborator code AVR-001), an IL-23 receptor antagonist. Under the license agreement, the Group granted an exclusive license to Avere to develop, manufacture and commercialize the product globally (excluding the Chinese Mainland, Hong Kong, Macau and Taiwan), subject to the terms and conditions thereof. The Group is eligible to receive upfront payments totaling US$120 million and up to US$2.18 billion in milestone payments associated with development and sales, as well as mid-single to low-double digit royalty payments on sales in the licensed territory. For details, please refer to the announcement of the Company dated July 14, 2026. Clinical Progress of In-licensing and Collaboration Programs During the Reporting Period, the Group incurred a total of approximately RMB44 million of R&D expenses due to the in-licensed or collaborative projects that had been introduced in the past, which were mainly for advancing the clinical trials of a number of in-licensed projects.
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21 Progress of HS-20117 HS-20117 is a fully human immunoglobulin G1 (IgG1) bispecific antibody that simultaneously targets EGFR and c-MET. In November 2022, the Group entered into a licensing agreement with Biotheus, pursuant to which the Group obtained the exclusive license to develop and commercialize HS-20117 (collaborator code PM1080) in China (including Hong Kong, Macau and Taiwan). In June 2026, a Phase I study of HS-20117 for the treatment of advanced NSCLC with EGFR exon 20 insertion mutations ( “EGFR ex20ins ”) previously treated with platinum-based chemotherapy was presented at the 2026 European Society for Medical Oncology Targeted Anticancer Therapies Asia (ESMO TAT Asia). The results showed that HS-20117 has demonstrated a favorable anti- tumor activity in advanced NSCLC harboring EGFR ex20ins with manageable safety. Among the 22 patients with EGFR ex20ins-mutated advanced NSCLC, median duration of responses (DoR) was 16.6 months, the mPFS was 9.3 months, and the estimated 12-month overall survival rate was 84.9%. Among the 25 safety-evaluable patients, HS-20117 demonstrated a favorable and manageable safety profile, with most treatment-related adverse events ( “TRAEs”) being Grade 1-2. No TRAE led to dose discontinuation or death. As of the date of this announcement, clinical development of HS-20117 for NSCLC, colorectal cancer (CRC) and head and neck squamous cell carcinoma (HNSCC) was ongoing. Progress of HS-10568 HS-10568 is an allosteric modulator of calcium-sensing receptor (CaSR) which increases the receptor ’s sensitivity to extracellular calcium, thereby reducing the secretion of parathyroid hormone (PTH). In December 2025, the Group entered into a licensing agreement with Jiangsu Hengrui Pharmaceuticals Co., Ltd., pursuant to which the Group obtained the exclusive license to develop, manufacture and commercialize HS-10568 (collaborator code SHR6508) in China (excluding Hong Kong, Macau and Taiwan), with the right of sub-license in accordance with the terms of the licensing agreement. In June 2026, the NDA for HS-10568 was accepted by the NMPA for the treatment of SHPT in adult patients with CKD undergoing hemodialysis. Progress of HS-10382 HS-10382 is a novel BCR-ABL kinase allosteric inhibitor that specifically targets the ABL myristoyl pocket (STAMP). In July 2020, the Group entered into a licensing agreement with Terns Pharmaceuticals, Inc. (which was acquired by Merck & Co., Inc. in May 2026), pursuant to which the Group obtained the exclusive license to develop and commercialize HS-10382 (collaborator code TRN-000632) in China (including Hong Kong, Macau and Taiwan).
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22 In June 2026, data on HS-10382 as monotherapy and in combination with Flumatinib for patients with newly diagnosed chronic myeloid leukemia in the chronic phase (CML-CP) were presented at the 2026 European Hematology Association (EHA) Congress. The study results showed that HS-10382, as monotherapy and in combination with Flumatinib, has shown promising anti-tumor activity with a favorable safety profile in the evaluated Chronic Myeloid Leukemia-Chronic phase (CML-CP) population. Among the patients with newly diagnosed Ph+ CML-CP administered with HS-10382 in combination with Flumatinib as first-line therapy, at week 48, MMR achieved 80% and MR4.0 reached 30%. In another study initiated by the investigator, among the patients with newly diagnosed Ph+ CML-CP administered with HS-10382 as monotherapy, at week 48, MMR achieved 66.7% and MR4.0 was 28.6%. It demonstrated a favorable safety profile as both monotherapy and combination therapy. Environmental, Social and Governance (ESG) Adhering to our core values of “Responsibility, Integrity, Dedication and Innovation ”, the Group has in the long term been committed to improving the accessibility of innovative medicines in the areas with unmet clinical needs. During the Reporting Period, we continued to optimize our efforts in R&D innovation, governance, environmental protection, talent cultivation and inclusive healthcare, laying a solid foundation for the long-term development of the Company. We are continuously improving the disclosures of our governance, strategy, risk management, metrics and targets on key ESG issues in response to stakeholders ’ concerns as well as enhancing the level of ESG management to lower operating risks. In the first half of 2026, the Board continued to perform its supervisory duties. Through the ESG Committee, the Board regularly reviewed risk prevention strategies and systems, ESG strategies and emerging risks, as well as key performance indicators that reflect the comprehensive improvement of ESG results, and took proactive and forward-looking measures to address the identified hidden hazards or potential risks. During the Reporting Period, we continued to engage an independent third party to provide assurance for our 2025 ESG report, and continued to carry out systematic inspections and third- party verification of Scope 1, Scope 2 and Scope 3 greenhouse gas emissions, to ensure the authenticity, completeness and reliability of ESG information and data disclosure. During the Reporting Period, the Group ’s MSCI ESG rating was upgraded to the highest level of AAA, achieving a globally leading position. The Group was again selected for inclusion in the Sustainability Yearbook (Global Edition) 2026 and Sustainability Yearbook (China Edition) 2026 published by S&P Global, and ranked in the top 1% of the Chinese pharmaceutical industry. We actively respond to the Sustainable Development Goals of the United Nations, deeply integrate ESG management into the Company ’s long-term planning, and proactively address ESG challenges to contribute to global sustainable development. We are committed to sharing proven practices with partners across the industry chain, promoting green innovations to benefit a broader medical community, and bringing new hope to areas of unmet clinical needs. This is not only conducive to ecological environment protection and social welfare, but also beneficial to creating a more stable and sustainable business environment, realizing coordinated economic, social and environmental development. We will continue to adhere to the philosophy of being “patient-centered and innovation-driven ”, actively fulfill our responsibility as a corporate citizen, and create long-term value for the industry and society.
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23 FINANCIAL REVIEW Revenue During the Reporting Period, the Group ’s revenue amounted to approximately RMB8,304 million, representing an increase of approximately 11.7% as compared to approximately RMB7,434 million for the six months ended June 30, 2025. The Group ’s revenue was primarily generated from the sales of pharmaceutical products. Major products are concentrated in the main therapeutic areas on which the Group strategically focuses, including oncology, metabolism, immunology, CNS and anti-infectives. The increase in revenue during the Reporting Period was primarily due to approximately 21.6% growth in the sales revenue of innovative medicine products. Cost of Sales The Group ’s cost of sales increased by approximately 1.6% from approximately RMB661 million for the six months ended June 30, 2025 to approximately RMB671 million for the Reporting Period, which accounted for approximately 8.1% of the Group ’s total revenue for the same period. The increase in cost of sales of the Group was mainly attributable to the increased sales of products for the Reporting Period, as compared to the six months ended June 30, 2025. Other Income The Group ’s other income mainly consisted of investment income, bank interest income, government grants and other income. During the Reporting Period, the Group ’s other income amounted to approximately RMB1,318 million, representing an increase of approximately 127.9% as compared to approximately RMB578 million for the six months ended June 30, 2025. The increase was mainly attributable to increased significant income arising from an unlisted equity investment of the Group through venture capital funds in the life science industry during the period. Selling and Distribution Expenses The Group ’s selling and distribution expenses consisted of expenses that were directly related to the Group ’s marketing and promotion activities. During the Reporting Period, the Group ’s selling and distribution expenses amounted to approximately RMB1,861 million, representing an increase of approximately 2.3% as compared to approximately RMB1,818 million for the six months ended June 30, 2025. The increase was mainly attributable to the growth of sales revenue. Administrative Expenses The Group ’s administrative expenses primarily consisted of staff costs, general operating expenses, depreciation and amortization, auditor ’s remuneration, consulting expenses, taxation and other administrative expenses. During the Reporting Period, the Group ’s administrative expenses amounted to approximately RMB326 million, representing a decrease of approximately 4.8% as compared to approximately RMB343 million for the six months ended June 30, 2025. The decrease was mainly due to strengthened cost controls during the period.
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24 R&D Expenses The Group ’s R&D expenses primarily consisted of employee costs, CRO and experiment costs, material expenses, energy expenses, BD expenses, depreciation and amortization and other R&D expenses. During the Reporting Period, the Group ’s R&D expenses amounted to approximately RMB1,739 million, representing an increase of approximately 20.7% as compared to approximately RMB1,441 million for the six months ended June 30, 2025. The increase was primarily attributable to the fact that the Group has focused on innovation and consistently increased its investment in R&D year by year, establishing comprehensive R&D platforms, developing and launching multiple innovative medicine products and reserving pipelines of innovative medicines at various stages of development. Other Expenses The Group ’s other expenses primarily consisted of fair value gain/(loss) of financial assets at fair value through profit or loss, interest expenses, exchange differences, net, and impairment of inventories, net, etc. For the Reporting Period, the Group ’s other expenses amounted to approximately RMB15 million, as compared to other expenses of approximately RMB61 million for the six months ended June 30, 2025. The change was mainly due to fair value gain of financial assets at fair value through profit or loss during the period. Income Tax Expense During the Reporting Period, the Group ’s income tax expense amounted to approximately RMB751 million, representing an increase of approximately 35.8% as compared to approximately RMB553 million for the six months ended June 30, 2025. The increase in the Group ’s income tax expense was primarily attributable to the increase in profit before tax for the Reporting Period as compared to the six months ended June 30, 2025. Profit for the Period The Group ’s profit for the Reporting Period was approximately RMB4,258 million, representing an increase of approximately 35.8% as compared to approximately RMB3,135 million for the six months ended June 30, 2025, which was primarily due to the combined effect of the increase in revenue of innovative medicines and the increase in other income.
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25 Liquidity and Financial Resources Currently, the Group follows a set of funding and treasury policies to manage its capital resources and mitigate potential risks. The Board considers various funding sources depending on the Group ’s funding needs to ensure that the financial resources have been used in the most cost-effective and efficient way. We also closely monitor uses of cash resources and strive to maintain healthy liquidity for the needs of our business operations. For the six months ended June 30, 2026, the Group ’s operating activities generated a net cash inflow of RMB2,337 million. The capital expenditure during the Reporting Period was RMB303 million, mainly relating to the construction of workshops, as well as, among other things, the purchase of equipment, motor vehicles and software required for production, R&D and administrative activities, etc. The cash flow of financing activities for the Reporting Period mainly consisted of the net proceeds from the issuance of convertible bonds, which were approximately HK$4,640 million. The Group ’s financial position remains sound. As at June 30, 2026, the Group had net current assets of approximately RMB32,968 million, as compared to approximately RMB31,160 million as at December 31, 2025. The increase in net current assets was mainly attributable to increased cash and bank balances. The current ratio of the Group decreased to approximately 4.9 as at June 30, 2026 from approximately 8.1 as at December 31, 2025, primarily due to issuance of convertible bonds. As at June 30, 2026, we had cash and bank balances of RMB37,383 million (as at December 31, 2025: RMB31,549 million) and current financial assets at fair value through profit or loss of RMB0 million (as at December 31, 2025: RMB18 million). As each of the financial products was subscribed with different banks under different terms and are of different nature and none of the financial products exceeds 5% of the applicable percentage ratios on a standalone basis, the Group ’s purchase of financial products during the six months ended June 30, 2026 does not constitute notifiable transactions of the Company under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules ”). As at June 30, 2026, the Group ’s gearing ratio (calculated as total liabilities divided by total assets) was approximately 19.0% (as at December 31, 2025: 11.4%). The increase in gearing ratio was primarily due to issuance of convertible bonds. After reviewing the Group ’s profitability, working capital and capital expenditure requirements, the Board is of the view that the Group has no significant liquidity risk and has sufficient working capital. Most of the Group ’s assets and liabilities are denominated in Renminbi and United States Dollars. The Group manages its foreign exchange risk by closely monitoring its net foreign exchange exposure to reduce the impact of foreign exchange fluctuations.
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26 Pledge of Group Assets As at June 30, 2026, none of the Group ’s assets was subject to any encumbrance, mortgage, lien, charge or pledge. Contingent Liabilities As at June 30, 2026, the Group had no material contingent liabilities. Significant Investments Held During the six months ended June 30, 2026, the Group did not have any significant investments. Future Plans for Material Investments and Capital Assets As at June 30, 2026, the Group did not have any plans for material investments and capital assets. Material Acquisitions and Disposals During the six months ended June 30, 2026, the Group did not have any material acquisitions or disposals of subsidiaries, associates or joint ventures. Employees and Emoluments Policy As at June 30, 2026, the Group had a total of 9,643 full-time employees, whose remuneration was determined based on their performance and experience as well as the prevailing market salary levels. The staff costs, including remuneration of the executive Directors, social welfare and other benefits, were approximately RMB1,816 million for the six months ended June 30, 2026. We also provided regular training to employees designed to strengthen staff commitment to us and improve staff knowledge in a number of important areas of our services, such as knowledge about the Company and our products as well as sales, laws and regulations applicable to our operation, requirements under applicable GMP or other certifications, quality control, production safety and corporate culture.
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27 Post-IPO RSU Scheme The Company has conditionally approved and adopted the restricted share unit scheme ( “RSU Scheme ”) on May 27, 2019 to recognize contributions by selected participants and give incentives thereto in order to retain them for the continual operation and development of the Group and to attract suitable personnel for further development of the Group. Participants may include employees of the Group (including director, chief executive officer, vice president, financial controller, company secretary, members of senior management or key technical personnel) as well as any other person selected by the Board at its sole discretion from time to time (subject to compliance with the applicable Listing Rules). On April 28, 2026, the Board resolved to terminate the RSU Scheme. The termination of the RSU Scheme took effect on June 26, 2026, being the date of adoption of the 2026 Share Scheme (as defined below). According to the terms of the RSU Scheme, the RSU Scheme may be terminated at any time prior to the expiry of the scheme period by the Board. No further awards shall be granted after the RSU Scheme is terminated but in all other respects the provisions of the RSU Scheme shall remain in full force and effect. All awards granted under the RSU Scheme prior to such termination that have not yet vested as at the date of the termination shall remain valid. On April 17, 2026, pursuant to the terms of the RSU Scheme, the Company allotted and issued 9,000,000 new ordinary shares (aggregate nominal value: HK$90) to Computershare Hong Kong Trustees Limited (the “RSU Trustee ”), holding such shares for the benefit of the participants of the RSU Scheme, with the issue price per share of HK$3.5788 as measured by the Company, which was arrived at after taking into consideration the number of shares currently held by the RSU Trustee and the purchase prices of the RSUs at the time of measurement, and the closing price per share of the Company on the business day immediately preceding the issuance was HK$40.16. During the Reporting Period, the RSU Trustee was instructed by the Company to purchase an aggregate of 370,000 shares from the open market. As at June 30, 2026, a balance of 1,421,000 shares of the Company was held by the RSU Trustee for settlement of the restricted share units ( “RSUs”) under the RSU Scheme. For details of the RSU Scheme, please refer to the section headed “Statutory and General Information – D. Post-IPO RSU Scheme ” in Appendix IV to the prospectus of the Company dated May 31, 2019. During the Reporting Period, RSUs representing an aggregate of 4,992,330 shares of the Company had been granted by the Company pursuant to the RSU Scheme. Among the grants during the Reporting Period (details of the grants are set out in the announcement of the Company dated April 28, 2026), all RSUs granted to Dr. Lyu Aifeng (representing 109,010 shares of the Company granted), being an executive Director of the Company, only involve existing shares of the Company held or to be held by the RSU Trustee, and no new shares were or will be allotted or issued by the Company for the vesting of such RSUs. According to the director ’s service contract with the Company, the RSUs granted to him form part of his remuneration package and are therefore exempted from the reporting, announcement and independent shareholders ’ approval requirements under Rules 14A.73(6) and 14A.95 of the Listing Rules.
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28 2026 Share Scheme On June 26, 2026, the share scheme (the “2026 Share Scheme ”) was adopted by the shareholders of the Company at the annual general meeting of the Company. The 2026 Share Scheme enables the Company to grant awards in the form of RSUs and options, and its purpose is (a) to recognize the contributions by the eligible participants and give incentives to them in order to retain them for the continual operation and development of the Group; and (b) to attract suitable and skilled personnel to strive for the future development of the Group, with a view to achieving the objectives of increasing the value of the Company and aligning the interests of the selected participants directly to the shareholders of the Company through ownership of shares of the Company. The 2026 Share Scheme constitutes a share scheme governed by Chapter 17 of the Listing Rules. For details of the 2026 Share Scheme, please refer to the circular of the Company dated June 4, 2026. As of June 30, 2026, no awards had been granted or agreed to be granted by the Company pursuant to the 2026 Share Scheme. Prospects In the second half of 2026, driven by the dual engines of innovation and internationalization, the Group will continue to increase investment in R&D, strengthen its innovation pipelines in both oncology and non-oncology areas, focus on the deployment of new targets and new technology platforms, and expand into new indications to build a globally competitive pipeline matrix. The Group will accelerate the progress of clinical development and registration and expect to present multiple sets of pivotal clinical study data at international academic conferences and in authoritative journals, and submit NDAs in due course, ensuring thorough preparation for new product launches. In terms of commercialization, the Group will deepen the hospital coverage and market expansion strategies for its marketed innovative medicines, continuously enhance product accessibility, and drive the steady growth of sales, ensuring long-term competitive advantages in a dynamic and evolving market. In an increasingly active global licensing and collaboration landscape, the Group maintains an open and cooperative stance and actively evaluates opportunities for external strategic collaboration, with a view to unlocking the overseas commercial value of its pipelines and enabling its differentiated innovative products to benefit patients worldwide as soon as possible. The Group will remain steadfastly guided by unmet clinical needs, steadily advancing the integration of the full value chain from R&D to commercialization, and continuing to create long- term, sustainable value for patients, shareholders and the society.
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29 INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE SIX MONTHS ENDED 30 JUNE 2026 For the six months ended 30 June 2026 2025 Notes (Unaudited) (Unaudited) RMB’000 RMB’000 REVENUE 4 8,304,007 7,433,559 Cost of sales (671,083) (660,786) Gross profit 7,632,924 6,772,773 Other income 4 1,318,260 578,413 Selling and distribution expenses (1,860,652) (1,817,936) Administrative expenses (326,441) (342,770) Research and development costs (1,739,380) (1,440,841) Other expenses 4 (15,369) (61,487) PROFIT BEFORE TAX 5 5,009,342 3,688,152 Income tax expense 6 (751,401) (553,223) PROFIT FOR THE PERIOD 4,257,941 3,134,929 Attributable to owners of the parent 4,257,941 3,134,929 EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT FOR THE PERIOD Basic (RMB) 8 0.70 0.53 Diluted (RMB) 8 0.70 0.53
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30 INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 30 JUNE 2026 For the six months ended 30 June 2026 2025 (Unaudited) (Unaudited) RMB’000 RMB’000 PROFIT FOR THE PERIOD 4,257,941 3,134,929 OTHER COMPREHENSIVE LOSS Other comprehensive loss that may be reclassified to profit or loss in subsequent periods: Exchange differences on translation of foreign operations (871,912) (86,108) Net other comprehensive loss that may be reclassified to profit or loss in subsequent periods (871,912) (86,108) OTHER COMPREHENSIVE LOSS FOR THE PERIOD, NET OF TAX (871,912) (86,108) TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 3,386,029 3,048,821 Attributable to owners of the parent 3,386,029 3,048,821
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31 INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 JUNE 2026 Notes 30 June 2026 31 December 2025 (Unaudited) (Audited) RMB’000 RMB’000 NON-CURRENT ASSETS Property, plant and equipment 2,759,532 2,758,000 Right-of-use assets 500,467 421,344 Intangible assets 481,948 362,647 Financial assets at fair value through profit or loss 1,326,939 772,486 Prepayments for purchase of property, plant and equipment 78,379 30,532 Total non-current assets 5,147,265 4,345,009 CURRENT ASSETS Inventories 686,022 608,922 Trade and bills receivables 9 3,156,378 3,060,517 Prepayments, other receivables and other assets 232,892 319,623 Financial assets at fair value through profit or loss – 17,612 Cash and bank balances 10 37,382,899 31,548,668 Total current assets 41,458,191 35,555,342 CURRENT LIABILITIES Trade payables 11 376,701 334,314 Other payables and accruals 12 2,367,922 2,562,579 Contract liabilities 93,848 1,181,478 Convertible bonds 4,084,806 40,501 Lease liabilities 14,376 16,968 Tax payable 498,935 259,094 Dividends payable 1,053,405 – Total current liabilities 8,489,993 4,394,934 NET CURRENT ASSETS 32,968,198 31,160,408 TOTAL ASSETS LESS CURRENT LIABILITIES 38,115,463 35,505,417 NON-CURRENT LIABILITIES Lease liabilities 134,366 47,624 Deferred tax liabilities 192,221 72,299 Other non-current liabilities 20,807 21,043 Total non-current liabilities 347,394 140,966 NET ASSETS 37,768,069 35,364,451 EQUITY Equity attributable to owners of the parent Share capital 13 53 53 Treasury shares (5,188) (2,885) Reserves 37,773,204 35,367,283 Total equity 37,768,069 35,364,451
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32 NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION 30 JUNE 2026 1. CORPORATE INFORMATION The Company is an exempted company incorporated in the Cayman Islands with limited liability under the Companies Law of the Cayman Islands. 2.1 BASIS OF PREPARATION The interim condensed consolidated financial information for the six months ended 30 June 2026 has been prepared in accordance with HKAS 34 Interim Financial Reporting . The interim condensed consolidated financial information does not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Group ’s annual consolidated financial statements for the year ended 31 December 2025. The interim condensed consolidated financial information is presented in Renminbi ( “RMB”), and all values are rounded to the nearest thousand ( “RMB’000”) except when otherwise indicated. 2.2 CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES The accounting policies adopted in the preparation of the interim condensed consolidated financial information are consistent with those applied in the preparation of the Group ’s annual consolidated financial statements for the year ended 31 December 2025, except for the adoption of the following amended HKFRS Accounting Standards for the first time for the current period ’s financial information. Amendments to HKFRS 9 and HKFRS 7 Amendments to the Classification and Measurement of Financial Instruments Amendments to HKFRS 9 and HKFRS 7 Contracts Referencing Nature-dependent Electricity Annual Improvements to HKFRS Accounting Standards – Volume 11 Amendments to HKFRS 1, HKFRS 7, HKFRS 9, HKFRS 10 and HKAS 7 The nature and impact of the amended HKFRS Accounting Standards are described below: (a) Amendments to HKFRS 9 and HKFRS 7 Amendments to the Classification and Measurement of Financial Instruments clarify that a financial asset is derecognised when the entity ’s rights to the contractual cash flows expire or are transferred, while a financial liability is derecognised on the settlement date. The amendments introduce an accounting policy option to derecognise a financial liability that is settled through an electronic payment system before the settlement date if specified criteria are met. The amendments clarify how to assess the contractual cash flow characteristics of financial assets with environmental, social and governance (ESG) and other similar contingent features. Moreover, the amendments clarify the requirements for classifying financial assets with non-recourse features and contractually linked instruments. The amendments also include additional disclosures for investments in equity instruments designated at fair value through other comprehensive income and financial instruments with contingent features. Since the Group ’s accounting policy for the derecognition of financial assets and liabilities in prior years aligned with the amendments and the Group did not have the financial assets that were addressed by the amendments, the amendments did not have any impact on the interim condensed consolidated financial information. (b) Amendments to HKFRS 9 and HKFRS 7 Contracts Referencing Nature-dependent Electricity clarify the application of the “own-use ” requirements for in-scope contracts and amend the designation requirements for a hedged item in a cash flow hedging relationship for in-scope contracts. The amendments also include additional disclosures that enable users of financial statements to understand the effects these contracts have on an entity ’s financial performance and future cash flows. As the Group did not have any contracts that are in the scope of the amendments, the amendments did not have any impact on the interim condensed consolidated financial information.
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33 (c) Annual Improvements to HKFRS Accounting Standards – Volume 11 set out narrow scope amendments to HKFRS 1, HKFRS 7 (and the accompanying Guidance on implementing HKFRS 7), HKFRS 9, HKFRS 10 and HKAS 7. The amendments include clarifications, simplifications, corrections or changes to improve consistency in the corresponding HKFRS Accounting Standards. The amendments did not have any impact on the interim condensed consolidated financial information. 3. OPERATING SEGMENT INFORMATION Information about geographical areas Since approximately 80% of the Group ’s revenue was generated from the sale of pharmaceutical products in Chinese Mainland and most of the Group ’s identifiable operating assets were located in Chinese Mainland, no geographical segment information in accordance with HKFRS 8 Operating Segments is presented. Information about major customers No revenue from the Group ’s sales to a single customer amounted to 10% or more of the Group ’s revenue during the reporting period. 4. REVENUE, OTHER INCOME AND OTHER EXPENSES An analysis of revenue and other income is as follows: For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Revenue from contracts with customers Pharmaceutical products related sales 6,843,069 5,985,705 Others 1,460,938 1,447,854 Total revenue 8,304,007 7,433,559 Other income Bank interest income 630,498 512,393 Investment income 631,083 17,167 Government grants 56,397 48,558 Others 282 295 Total other income 1,318,260 578,413
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34 An analysis of other expenses is as follows: For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Other expenses Gain on disposal of items of property, plant and equipment 11,095 908 Fair value gain/(loss) of financial assets at fair value through profit or loss 74,818 (35,564) Exchange differences, net (31,171) (7,496) (Impairment)/reversal of impairment of trade receivables, net (1,472) 2,369 Impairment of inventories, net (2,533) (16,698) Interest expenses (48,612) (1,633) Others (17,494) (3,373) Total other expenses (15,369) (61,487) 5. PROFIT BEFORE TAX The Group ’s profit before tax is arrived at after charging/(crediting): For the six months ended 30 June Notes 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Cost of inventories sold 590,056 467,450 Depreciation of property, plant and equipment 171,685 176,454 Depreciation of right-of-use assets 15,203 14,255 Amortisation of intangible assets 9,883 6,565 Impairment/(reversal of impairment) of trade receivables, net 4 1,472 (2,369) Impairment of inventories, net 4 2,533 16,698 Short-term lease expenses 3,366 4,125 Auditors ’ remuneration Audit services 1,625 1,630 Non-audit services 1,318 – Gain on disposal of items of property, plant and equipment 4 (11,095) (908) Investment income 4 (631,083) (17,167) Fair value (gain)/loss of financial assets at fair value through profit or loss 4 (74,818) 35,564 Bank interest income 4 (630,498) (512,393) Exchange differences, net 4 31,171 7,496 Employee benefit expense Wages and salaries 1,195,032 1,026,868 Social welfare and other benefits* 541,759 469,594 Share-based payments 79,058 78,585 Total employee benefit expense 1,815,849 1,575,047 * There are no forfeited contributions that may be used by the Group as the employer to reduce the existing level of contributions.
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35 6. INCOME TAX The Group is subject to income tax on an entity basis on profits arising in or derived from the jurisdictions in which members of the Group are domiciled and operate. Pursuant to the rules and regulations of the Cayman Islands and the British Virgin Islands, the Group is not subject to any income tax in the Cayman Islands and the British Virgin Islands. The subsidiaries incorporated in Hong Kong and the subsidiaries registered as a Hong Kong tax resident are subject to income tax at the rate of 16.5% (2025: 16.5%) on the estimated assessable profits arising in Hong Kong during the reporting period. The first HK$2,000,000 (2025: HK$2,000,000) of assessable profits of each subsidiary are taxed at 8.25% (2025: 8.25%) and the remaining assessable profits are taxed at 16.5% (2025: 16.5%). The provision for the PRC corporate income tax is based on the statutory rate of 25% of the assessable profits of certain PRC subsidiaries of the Group as determined in accordance with the PRC Corporate Income Tax Law which was approved and became effective on 1 January 2008, except for certain subsidiaries of the Group in Chinese Mainland which are granted tax concession and are taxed at preferential tax rates. In 2023, Jiangsu Hansoh Pharmaceutical Group Co., Ltd. ( “Jiangsu Hansoh ”) and Shanghai Hansoh Biomedical Co., Ltd. ( “Shanghai Hansoh ”), subsidiaries of the Company, renewed their “High and New Technology Enterprise ” ( “HNTE”) qualification and were entitled to a preferential income tax rate of 15% for a period of three years from 2023 to 2025. As at the end of the reporting period, Jiangsu Hansoh and Shanghai Hansoh are in the process of applying for their “HNTE” qualifications, which is expected to be completed within this year. In 2024, Changzhou Hansoh Pharmaceutical Co., Ltd. ( “Changzhou Hansoh ”), a subsidiary of the Company, renewed its “HNTE” qualification and was entitled to a preferential income tax rate of 15% for a period of three years from 2024 to 2026. The income tax expense of the Group for the periods presented is analysed as follows: For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Current income tax 631,479 459,624 Deferred income tax 119,922 93,599 Total 751,401 553,223 7. DIVIDENDS For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) 2025 final dividends declared – HK$20.00 cents per ordinary share (2024 final dividends declared – HK$13.53 cents per ordinary share) 1,054,459 734,910 Pursuant to the resolutions of the shareholders of the Company dated 26 June 2026, the Company declared dividends of HK$20.00 cents per ordinary share (20 June 2025: HK$13.53 cents per ordinary share), amounting to a total of approximately RMB1,054,459,000 (six months ended 30 June 2025: RMB734,910,000), which were paid on 24 July 2026.
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36 8. EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT The calculation of basic earnings per share is based on the profit for the period attributable to ordinary equity holders of the parent of RMB4,257,941,000 (six months ended 30 June 2025: RMB3,134,929,000), and the weighted average number of ordinary shares of 6,056,678,630 (six months ended 30 June 2025: 5,937,754,754) outstanding during the period, which are adjusted to reflect the changes in the number of ordinary shares during the period. The calculation of the diluted earnings per share amount is based on the profit for the period attributable to ordinary equity holders of the parent, adjusted to reflect the interest in the convertible bonds. The weighted average number of ordinary shares used in the calculation of the diluted earnings per share is the weighted average number of ordinary shares outstanding during the period, as used in the basic earnings per share calculation, and the weighted average number of ordinary shares assumed to have been issued on all potential dilutive ordinary shares. The calculations of basic and diluted earnings per share are based on: For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Earnings Profit attributable to ordinary equity holders of the parent used in the basic earnings per share calculation 4,257,941 3,134,929 Interest on convertible bonds 46,666 272 Profit attributable to ordinary equity holders of the parent used in the diluted earnings per share calculation 4,304,607 3,135,201 Adjusted number of shares Six months ended 30 June 2026 2025 (Unaudited) (Unaudited) Shares Weighted average number of ordinary shares in issue during the period used in the basic earnings per share calculation 6,056,678,630 5,937,754,754 Effect of dilution – weighted average number of ordinary shares Restricted share units 14,849,045 17,941,276 Convertible bonds 66,699,102 725,384 Weighted average number of ordinary shares in issue during the period used in the diluted earnings per share calculation 6,138,226,777 5,956,421,414 Basic earnings per share (RMB per share) 0.70 0.53 Diluted earnings per share (RMB per share) 0.70 0.53
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37 9. TRADE AND BILLS RECEIVABLES 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Trade receivables 3,001,843 3,050,099 Impairment (13,066) (11,594) Net carrying amount 2,988,777 3,038,505 Bills receivable 167,601 22,012 Total 3,156,378 3,060,517 An ageing analysis of trade receivables as at the end of the reporting period, based on the invoice date and net of loss allowance, is as follows: 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Within 90 days 2,947,124 3,023,697 91 days to 180 days 17,235 13,024 Over 180 days 24,418 1,784 Total 2,988,777 3,038,505 An ageing analysis of bills receivable as at the end of the reporting period, based on the billing date, is as follows: 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Within 90 days 165,459 18,119 91 days to 180 days 2,142 3,893 Total 167,601 22,012 The movements in the loss allowance for impairment of trade receivables are as follows: For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) At beginning of the period 11,594 12,425 Provision/(reversal) for impairment, net 1,472 (2,369) At end of the period 13,066 10,056
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38 10. CASH AND BANK BALANCES 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Cash and bank balances, unrestricted 2,457,241 2,941,080 Time deposits with original maturity of less than three months when acquired 2,199,904 467,839 Time deposits with original maturity of over three months when acquired (note (a)) 32,725,754 28,139,749 Cash and bank balances 37,382,899 31,548,668 Note: (a) The above investments represent time deposits with initial term of over three months when acquired (including three months) issued by commercial banks with annual return rates ranging from 1.10% to 4.30% (2025: 1.35% to 4.50%). None of these investments are either past due or impaired. None of these deposits are pledged. 11. TRADE PAYABLES 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Trade payables 376,701 334,314 Total 376,701 334,314 An ageing analysis of the trade payables as at the end of the reporting period, based on the invoice date, is as follows: 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Within 90 days 376,170 333,883 91 days to 180 days 101 29 181 days to 1 year 105 105 Over 1 year 325 297 Total 376,701 334,314
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39 12. OTHER PAYABLES AND ACCRUALS 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Accrued expenses 1,571,082 1,617,387 Staff payroll, welfare and bonus payables 229,555 440,270 Payables for purchase of items of property, plant and equipment 24,130 29,267 Other tax payables 109,659 102,808 Other payables 433,496 372,847 Total 2,367,922 2,562,579 13. SHARE CAPITAL Authorized: Number Nominal value of shares of each share HKD As at 1 January 2025 and 31 December 2025 and 1 January 2026 and 30 June 2026 20,000,000,000 0.00001 Issued and paid: 30 June 2026 31 December 2025 RMB RMB (Unaudited) (Audited) Issued and paid: 6,064,150,070 shares of HK$0.00001 each (31 December 2025: 6,055,150,070 shares of HK$0.00001 each) 53,458 53,379 A summary of movements in the Company ’s share capital is as follows: Number of shares in issue Share capital RMB At 1 January 2026 (audited) 6,055,150,070 53,379 Issue of shares pursuant to the RSU Scheme adopted on 27 May 2019, HK$0.00001 each (note (a)) 9,000,000 79 At 30 June 2026 (unaudited) 6,064,150,070 53,458 Note: (a) On 17 April 2026, the Company issued 9,000,000 new ordinary shares to Computershare Hong Kong Trustees Limited (the “RSU Trustee ”) pursuant to the terms of the RSU Scheme approved and adopted on 27 May 2019, at the price of HK$3.5788 per restricted share unit for vesting.
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40 COMPLIANCE WITH THE CORPORATE GOVERNANCE CODE The Company ’s corporate governance practices are based on the principles and code provisions as set out in the Corporate Governance Code (the “CG Code ”) contained in Appendix C1 to the Listing Rules and the Company has adopted the CG Code as its own code of corporate governance. The Board is of the view that the Company has complied with all applicable code provisions in effect as set out in Part 2 of the CG Code during the six months ended June 30, 2026, save for code provision C.2.1 of the CG Code. Code Provision C.2.1 Code provision C.2.1 of the CG Code states that the roles of chairman and chief executive officer should be separate and should not be performed by the same individual. The Company has appointed Ms. Zhong Huijuan ( “Ms. Zhong ”) as both the chairlady and the chief executive officer of the Company. Due to the nature and the extent of the Group ’s operations and Ms. Zhong ’s in- depth knowledge and experience in the PRC pharmaceutical industry, the Board considers that the balance of power and authority under the present arrangement is not impaired and this structure will enable the Company to make and implement decisions promptly and effectively. The Board will continue to review and consider splitting the roles of chairlady of the Board and the chief executive officer of the Company at a time when it is appropriate by taking into account the circumstances of the Group as a whole. The Board will periodically review and enhance its corporate governance practices to ensure that the Company continues to meet the requirements of the CG Code. COMPLIANCE WITH THE MODEL CODE FOR SECURITIES TRANSACTIONS BY DIRECTORS The Company has adopted its own code of conduct regarding securities transactions of the Company by Directors (the “Company Code ”) on terms no less exacting than the required standard set out in the Model Code for Securities Transactions by Directors of Listed Issuers contained in Appendix C3 to the Listing Rules. Specific enquiry has been made to all Directors by the Company and all Directors confirmed that they have complied with the Company Code during the six months ended June 30, 2026. AUDIT COMMITTEE The Board has established an audit committee (the “Audit Committee ”) with written terms of reference in compliance with Rule 3.21 of the Listing Rules and paragraph D.3 of Part 2 of the CG Code. The Audit Committee consists of four independent non-executive Directors, namely Mr. Chan Charles Sheung Wai (chairman of the Audit Committee), Mr. Lin Guoqiang, Ms. Yang Dongtao and Mr. Yan Jia. The Audit Committee and the external auditor, Ernst & Young, have reviewed the unaudited interim results of the Group for the six months ended June 30, 2026.
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41 PURCHASE, SALE OR REDEMPTION OF THE COMPANY ’S LISTED SECURITIES During the six months ended June 30, 2026, neither the Company nor any of its subsidiaries had purchased, sold or redeemed any of the Company ’s listed securities (including sale of treasury shares) (as defined under the Listing Rules). As at June 30, 2026, no treasury shares (as defined under the Listing Rules) were held by the Company. INTERIM DIVIDEND AND CLOSURE OF REGISTER OF MEMBERS The Board has declared the payment of an interim dividend of HK$28.50 cents per share for the six months ended June 30, 2026 (the interim dividend for the six months ended June 30, 2025: HK$23.16 cents per share). The interim dividend for 2026 will be paid to shareholders on Thursday, October 29, 2026, whose names appear on the register of members of the Company on Friday, September 25, 2026. For the purpose of determining shareholders who are qualified for the interim dividend, the register of members of the Company will be closed from Thursday, September 24, 2026 to Friday, September 25, 2026, both days inclusive, during which period no transfer of shares will be effected. The record date for determining the entitlement of the shareholders to receive the interim dividend will be Friday, September 25, 2026. In order to qualify for the interim dividend, all transfer documents accompanied by the relevant share certificates must be lodged with the Company ’s branch share registrar and transfer office in Hong Kong, Tricor Investor Services Limited, at 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong by 4:30 p.m. on Wednesday, September 23, 2026. USE OF PROCEEDS FROM PREVIOUS FUNDRAISING ACTIVITIES AS AT JUNE 30, 2026 Use of Proceeds from the Placing On August 20, 2025, the Company entered into a placing agreement with Citigroup Global Markets Asia Limited, Citigroup Global Markets Limited and Morgan Stanley Asia Limited (in alphabetical order), pursuant to which Citigroup Global Markets Limited and Morgan Stanley Asia Limited (together, the “Placing Agents ”) agreed to place 108,000,000 ordinary shares (with an aggregate nominal value of HK$1,080) in the Company, or, failing which, to purchase themselves on a fully underwritten basis, to not fewer than six placees who are professional, institutional or other investors selected and procured by the Placing Agents and whose ultimate beneficial owners are independent third parties (the “Placing ”). The Placing price was HK$36.30 per share. The closing price per share as quoted on the Stock Exchange on August 19, 2025, being the date on which the Placing price was fixed, was HK$38.82. The Directors consider that the Placing represents an opportunity to raise capital for the business development of the Group and to broaden the Shareholder base of the Company. For further details of the Placing, please refer to the announcement of the Company dated August 20, 2025.
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42 The net proceeds from the Placing (after deducting the Placing commission, levies and trading fee) were approximately HK$3,896.54 million, which have been and will be utilized as follows: (i) approximately 65% for (a) the R&D of new innovative medicines in therapeutic areas including oncology, autoimmune, CNS and metabolic diseases, and (b) the in-licensing for innovative medicines and innovative technology platforms. Proceeds are mainly used for the later-stage clinical R&D activities of the Group ’s existing programs. (ii) approximately 25% for (a) the construction of new innovative medicine production facilities and R&D laboratories, and (b) the upgrade of the Group ’s existing R&D laboratories and production facilities. Part of the proceeds has been applied to Phase I construction of the Company ’s Shanghai global R&D headquarters project. (iii) approximately 10% for working capital and other general corporate purposes. On this basis, the net price per Placing share was approximately HK$36.08. As at June 30, 2026, net proceeds of approximately HK$1,291.60 million were utilized and approximately HK$2,604.94 million remained unutilized. The net proceeds were used, and the remaining proceeds will be used, according to the intended purposes and timeline previously disclosed by the Company. As at June 30, 2026, the net proceeds utilized by the Group were as follows: Purpose Percentage of the total amount Net proceeds (HK$100 million) Utilized from the issuance date to June 30, 2026 (HK$100 million) Unutilized as at June 30, 2026 (HK$100 million) Expected time frame (i) (a) the R&D of new innovative medicines in therapeutic areas including oncology, autoimmune, CNS and metabolic diseases, and (b) the in- licensing for innovative medicines and innovative technology platforms 65% 25.32751 9.21727 16.11024 The balance is expected to be fully utilized by 2031 (ii) (a) the construction of new innovative medicine production facilities and R&D laboratories, and (b) the upgrade of the Group ’s existing R&D laboratories and production facilities 25% 9.74135 0.73630 9.00505 The balance is expected to be fully utilized by 2031 (iii) working capital and other general corporate purposes 10% 3.89654 2.96243 0.93411 The balance is expected to be fully utilized by 2031 Total 100% 38.96540 12.91600 26.04940 To the best knowledge of the Directors, there has neither been any material change nor delay in the use of proceeds during the six months ended June 30, 2026.
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43 Use of Proceeds from the Issuance of Convertible Bonds On February 3, 2026, the Company successfully completed the issuance of HK$4,680 million zero-coupon convertible bonds due in 2033 to professional investors only (the “Bonds ”). On February 4, 2026, the Bonds were admitted to trading and listing on the Vienna MTF operated by the Vienna Stock Exchange, effective February 6, 2026. The Bonds have been offered and sold to no less than six independent placees (who are professional investors). Assuming full conversion of the Bonds at the initial conversion price of HK$57.39 per Share, the Bonds will be convertible into 81,547,308 Shares (with aggregate nominal value of approximately HK$815). The closing price per share as quoted on the Stock Exchange on January 26, 2026, being the date on which the initial conversion price was determined, was HK$40.24. The Directors consider that the issue of Bonds represents an opportunity to raise capital for the Company while broadening the shareholder base and capital base of the Company and to obtain immediate funding for further business expansion. The net proceeds from the Bonds were approximately HK$4,640 million, representing a net issue price of approximately HK$56.90 per conversion share based on the initial conversion price, which have been and will be utilized in the following manner as disclosed in the announcements of the Company dated January 27, 2026 and February 3, 2026: (a) approximately 65% on drug R&D and in-licensing: The intended use of such net proceeds includes (i) funding of the R&D of the Group ’s innovative medicine pipeline across oncology, CNS, metabolic and autoimmune diseases, covering preclinical to late-stage clinical programs; and (ii) supporting selective in-licensing projects for innovative medicines and R&D platforms to enrich the Group ’s product portfolio and facilitate near-term commercialization in the PRC. The Group ’s progress in advancing multiple innovative programs into mid-to-late stage clinical development demonstrates its continued commitment and increased investment in clinical R&D, while also benefiting from a versatile early-stage preclinical pipeline supported by sustained investment. Between 2019 and 2025, the Group has, on average, advanced approximately eight innovative preclinical or in-licensing candidates into clinical trials per year, demonstrating a productive internal R&D and business development engine. The Group plans to further increase investment in preclinical R&D in 2026 and beyond, with a focus on strengthening pipeline depth and ensuring a sustainable flow of high-quality innovative candidates from preclinical research into clinical development, taking into account global development potential for selected programs. For selected high-potential newly developed programs, the Group has incorporated, and will continue to incorporate, early consideration of global development planning, with the aim of strengthening international competitiveness and enhancing future partnering potential, subject to program-specific development considerations.
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44 While the Group continues to advance selected innovative programs with a view to its mid-to-long-term development, it also adopts a pragmatic approach in the near term to accelerate the enrichment of its pipeline with products that have clear commercialization potential in the PRC. In this regard, the Company has entered into over 10 in-licensed collaboration projects to broaden its product portfolio in China, and expects to continue pursuing such collaborations as appropriate to support near-term commercialization and growth. Pursuant to the existing exclusive licensing or collaboration agreements, the Company is required to pay milestone payments to the licensors upon the achievement of specified development, regulatory or commercialization milestones. In particular, R&D and registration milestone payments are payable prior to the commercialization of the in-licensed drugs or technology platforms. (b) approximately 25% on the construction of new R&D centers and production lines, and the upgrade of existing R&D and production facilities: The intended use of such net proceeds includes the construction and expansion of innovative medicine R&D centers and laboratories, the construction of new production lines, and the upgrading and enhancement of existing R&D laboratories and production facilities. The Company intends to apply part of the net proceeds to, among others, the Phase II construction of the Company ’s global R&D headquarters project in Pudong, Shanghai, which is planned to commence in 2028 and is expected to be of a comparable scale to the ongoing Phase I construction which commenced in 2024. The new headquarters is designed to accommodate advanced R&D infrastructure and will encompass facilities including biological laboratories and pilot-scale units, chemical R&D laboratories, R&D offices and supporting utilities. The project is intended to establish an integrated global platform for innovative medicine R&D technologies and modalities, including ADC, artificial intelligence, proteolysis targeting chimera (PROTAC) and peptide drug, and to undertake global R&D management functions, serving as a key hub for the Group ’s scientific research and technological development. The Company plans to continue upgrading and enhancing its existing R&D process development and clinical-supply production facilities and related equipment, with a focus on supporting the development, scale-up and clinical supply of products based on such new modalities. In this regard, the Company intends to utilize part of the proceeds to support the upgrading and improvement of its existing R&D centers located in the PRC, including those in Shanghai, Changzhou and Lianyungang, subject to further refinement of the scope and implementation plan. The Company also intends to construct new commercial production lines to expand its manufacturing capacity, with a view to further advancing the integration of informatization and industrialization (the “Two Integrations ”). In this connection, the Company plans to deploy intelligent and digitalized manufacturing and testing equipment to continuously enhance the smart manufacturing capabilities of its industrial base.
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45 In light of the anticipated commercialization of products based on new technology modalities from 2027 and beyond, particularly in therapeutic areas such as oncology, metabolic diseases and immunology, the Company considers it necessary to establish additional production lines and to strengthen manufacturing capabilities aligned with such modalities. The Company will also carry out forward-looking capacity planning and phased capacity expansion investments to support the expected growth in commercial supply following product launches, while maintaining flexibility to adjust capacity deployment based on actual market demand and product uptake. (c) approximately 10% for working capital and other general corporate purposes: The intended use of such net proceeds includes supplier payments, employee compensation, drug production to replenish the Company ’s inventory, and other routine operational expenditures, which are subject to our actual needs and market conditions at the relevant time. As at June 30, 2026, net proceeds of approximately HK$964 million were utilized and approximately HK$3,676 million remained unutilized. The net proceeds were used, and the remaining proceeds will be used, according to the intended purposes and timeline previously disclosed by the Company. As at June 30, 2026, the net proceeds utilized by the Group were as follows: Purpose Percentage of the total amount Net proceeds (HK$100 million) Utilized from the issuance date to June 30, 2026 (HK$100 million) Unutilized as at June 30, 2026 (HK$100 million) Expected time frame (i) drug R&D and in-licensing 65% 30.16 9.17 20.99 The balance is expected to be fully utilized by 2031 (ii) the construction of new R&D centers and production lines, and the upgrade of existing R&D and production facilities 25% 11.60 0.47 11.13 The balance is expected to be fully utilized by 2031 (iii) working capital and other general corporate purposes 10% 4.64 - 4.64 The balance is expected to be fully utilized by 2031 Total 100% 46.40 9.64 36.76 To the best knowledge of the Directors, there has neither been any material change nor delay in the use of proceeds during the six months ended June 30, 2026.
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46 PUBLICATION OF INTERIM RESULTS ANNOUNCEMENT AND INTERIM REPORT This interim results announcement is published on the websites of The Stock Exchange of Hong Kong Limited (www.hkexnews.hk ) and the Company (www.hspharm.com ). The interim report for the six months ended June 30, 2026 will be available on the same websites in due course. By Order of the Board Hansoh Pharmaceutical Group Company Limited Zhong Huijuan Chairlady Hong Kong, August 26, 2026 As at the date of this announcement, the Board comprises Ms. Zhong Huijuan as chairlady and executive Director, Ms. Sun Yuan and Dr. Lyu Aifeng as executive Directors, and Mr. Lin Guoqiang, Mr. Chan Charles Sheung Wai, Ms. Yang Dongtao and Mr. Yan Jia as independent non-executive Directors. * For identification purposes only