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. IMPACT Therapeutics, Inc ʮ̡ (A joint stock company incorporated in the People ’s Republic of China with limited liability) (Stock Code: 7630) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED JUNE 30, 2026 The board (the “Board ”) of directors (the “Directors ”) of IMPACT Therapeutics, Inc (the “Company ”) is pleased to announce the unaudited consolidated interim results of the Company and its subsidiaries (collectively, the “Group ”) for the six months ended June 30, 2026, together with comparative figures for the same period of 2025. The contents of this interim results announcement have been prepared in accordance with applicable disclosure requirements under the Listing Rules in relation to preliminary announcements of interim results and the IFRS Accounting Standards. These interim results have been reviewed by the Audit Committee of the Company. In this announcement, “we,” “us” and “our” refer to the Company or where the context otherwise requires, the Group. Certain amounts and percentage figures included in this announcement have been subject to rounding adjustments or have been rounded to one or two decimal places, as appropriate. Any discrepancies between totals and sums of amounts listed in any table, chart or elsewhere are due to rounding. Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings ascribed thereto in the Prospectus of the Company dated May 5, 2026.
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2 FINANCIAL HIGHLIGHTS Six months ended June 30, 2026 2025 Period to period change RMB’000 RMB’000 (Unaudited) (Unaudited) Revenue 105,190 25,236 316.8% R&D expenses (97,637) (86,337) 13.1% Loss for the period (90,810) (128,730) 29.5% decrease in loss Adjusted net loss (Non-HKFRS measure) for the period 2 (20,867) (55,841) 62.6% decrease in loss As of June 30, 2026 As of December 31, 2025 Net assets/(liabilities) 775,771 (957,891) N/A Cash and financial assets 1 1,065,378 258,535 312.1% Note: 1. Comprises cash and cash equivalents, restricted cash, time deposits and financial assets at fair value through profit or loss. 2. We define adjusted net loss (Non-HKFRS measure) for the Reporting Period as loss for the period adjusted by adding back (i) equity-settled share-based payment expense, (ii) listing expense and (iii) interest on redemption liabilities. BUSINESS HIGHLIGHTS The Company was listed on the Stock Exchange on May 13, 2026. During the Reporting Period and up to the date of this announcement, we continued rapidly advancing the development of our drug pipeline, including the following milestones and achievements. Business Development • Exclusive license agreement with Pharmanovia for senaparib in Europe, Middle East and North Africa, Australia and New Zealand o In July 2026, we entered into an exclusive partnership with Pharmanovia, a global specialty pharmaceutical company which partners with innovative biotech and large pharma to bring innovative specialty medicines to patients, to grant Pharmanovia the exclusive rights to manufacture, develop and commercialise senaparib in Europe, Middle East and North Africa, Australia and New Zealand for maintenance monotherapy for advanced epithelial high-grade ovarian, fallopian tube and primary peritoneal cancer. o We are eligible to receive an upfront payment plus near-term regulatory milestones and commercial milestone payments upon achieving certain sales thresholds, with a total amount up to EUR423.5 million, and such further tiered royalties up to the mid- twenties (%) on product net sales. o The exclusive partnership expands senaparib ’s global reach to 66 countries.
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3 Progress of Our Products Progress of Our Core Product • Senaparib (IMP4297) (PARP1/2 Inhibitor) o Updated Progression-Free Survival (PFS) data from the Phase 3 FLAMES study of senaparib as first-line maintenance therapy of advanced OC have been accepted for poster presentation at the 2026 European Society for Medical Oncology (ESMO) Congress. The annual ESMO Congress is one of the most influential academic conferences in the field of oncology globally, and this year ’s conference will be held in Madrid, Spain from October 23 to 27, 2026. o Market coverage of senaparib rapidly expanded following its NRDL inclusion for 1L maintenance therapy for OC “all-comers ”, effective from January 1, 2026. Revenue from sales of senaparib in China reached RMB70.4 million for the six months ended June 30, 2026, representing an increase of approximately RMB63.2 million, or 877.8%, compared to RMB7.2 million for the six months ended June 30, 2025. As of June 30, 2026, senaparib was available in all provinces in mainland China; it had gained access to more than 380 specialty and community pharmacies and achieved coverage of nearly 1,200 medical institutions. Senaparib has been included in (i) the Guidelines for the Diagnosis and Treatment of Ovarian Cancer (2025 Edition) issued by the Chinese Society of Clinical Oncology, (ii) the Chinese Clinical Practice Guidelines for Gynecologic Oncology (2025 Edition) and the Clinical Application Guidelines for PARP Inhibitors in Ovarian Cancer (2025 Edition) issued by the Chinese Society of Gynecological Oncology, and (iii) the CACA Guidelines for Holistic Integrative Management of Cancer – Ovarian Cancer Section (2025 Edition) issued by the China Anti-Cancer Association. All of the forementioned guidelines have recommended senaparib as first-line maintenance therapy after platinum-based chemotherapy for advanced epithelial ovarian cancer (EOC) regardless of BRCA/ HRD status. Progress of Our Key Products • IMP1734 (also known as EIK1003) (PARP1 Selective Inhibitor) o Updated data from multiple cohorts of ongoing Phase 1/2 studies, covering monotherapy, combination therapy with paclitaxel for advanced solid tumors, and combination therapy with abiraterone for metastatic prostate cancer, have been accepted for poster presentation at the 2026 ESMO Congress.
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4 o The latest Phase 1/2 clinical data were presented in a poster session at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting, held from May 29 to June 2, 2026, in Chicago, USA. IMP1734 monotherapy demonstrated durable antitumor activity and a favorable safety profile in a heavily pre-treated patient population with homologous recombination repair (HRR)-mutated advanced solid tumors. The clinical data for IMP1734 in combination with weekly paclitaxel provided the first clinical evidence that a PARP1-selective inhibitor can be safely combined with cytotoxic chemotherapy, thereby enabling a combination approach that was previously not feasible with non-selective PARP inhibitors. Key highlights of the latest Phase 1/2 clinical data include the following: Updated Results from IMP1734 Monotherapy (Cohort 1A). Among 49 efficacy- evaluable patients with advanced solid tumors, the objective response rate (ORR) was 14.3%; all 7 responses were partial responses (PR). The disease control rate (DCR) was 38.8%. For confirmed responders, the median duration of response (DOR) was 7.8 months (range: 6.0-15.9+ months). In PARP inhibitor-naïve patients, the ORR was 26.7%. The safety profile was consistent with prior data and was generally favorable. Results from IMP1734 in Combination with weekly Paclitaxel (Cohort 1C). Among 53 efficacy-evaluable patients, the ORR was 24.5%, including 1 confirmed complete response (CR) and 12 partial responses (PR). Of these responders, 92% had prior taxane exposure, indicating that the antitumor activity was observed despite prior taxane exposure. By tumor type, the ORR was 29.6% in patients with epithelial ovarian cancer and 19.2% in patients with HER2 – breast cancer. IMP1734 + weekly paclitaxel showed a manageable safety profile in an advanced line population, with Grade ≥3 TEAEs occurring in 75.0% of patients. The most common Grade ≥3 TEAEs were neutropenia (50.0%) and anemia (13.3%). All 8 participants who developed Grade ≥3 anemia had Grade 1-2 anemia at baseline. No unexpected safety signals were observed, and the hematologic toxicity profile was manageable in this heavily pre-treated population and in line with the effects of weekly paclitaxel. • IMP9064 (ATR Inhibitor) o The initial data from the first dose cohort of IMP9064 in combination with senaparib in ovarian cancer patients who have progressed after previous PARP inhibitors showed good safety and tolerability with early efficacy signal. Most TEAEs were mild or moderate; no Grade ≥ 3 TEAEs or SAEs were reported in this cohort. Among the first three patients who have had at least one post-baseline tumor assessment, two demonstrated tumor shrinkage, including 1 partial response (PR). Progress of Our Other Pipeline Assets Other Pipeline Assets • IMP1707 (also known as EIK1004) (CNS-penetrant PARP1 Selective Inhibitor) o Initial results from the first-in-human Phase 1/2 study of IMP1707 in patients with HRR-mutated advanced solid tumors have been accepted for poster presentation at the 2026 ESMO Congress.
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5 • IMP3201 ( CEACAM5-targeted Dual-payload ADC ) o IMP3201, a novel first-in-class CEACAM5-targeted dual-payload ADC with Exatecan (TOPOi) and our proprietary ATR inhibitor (ATRi), has been nominated by us as a pre-clinical candidate (PCC). IMP3201 shows significantly enhanced in vitro and in vivo anti-tumor activity as well as a favorable therapeutic window through precise targeting, stable circulation, and controlled payload release. The candidate will be developed for the treatment of gastrointestinal malignancies, including colorectal cancer, pancreatic cancer, gastric cancer and esophageal squamous cell carcinoma, addressing substantial unmet clinical needs. This nomination represents the first PCC from our proprietary dual-payload ADC platform, validating the platform ’s technical maturity and productivity. • IMP2794 ( KAT6A specific PROTAC ) o IMP2794, a KAT6A specific PROTAC, has been nominated by us as a PCC. IMP2794 is a potent and selective KAT6A degrader, with over 1,000-fold selectivity against KAT6B. The compound displays potent in vitro cytotoxic activity against tumor cells and minimal hematopoietic toxicity. It demonstrates significant in vivo antitumor efficacy in both sensitive and insensitive breast cancer CDX models. Notably, IMP2794 achieves remarkably high oral bioavailability across multiple rodent and non-rodent species, indicating strong potential for optimal human systemic exposure. This nomination represents the first PCC from our proprietary targeted protein degradation platform encompassing Proteolysis Targeting Chimeras (PROTACs), validating the platform ’s technical maturity and productivity. MANAGEMENT DISCUSSION AND ANALYSIS Overview We are a commercial-stage, innovation-driven biotechnology company focused on advancing synthetic lethality (SL)-based precision anti-cancer therapies globally, delivering innovative treatments to address the unmet medical needs of cancer patients. We have commercialized our self-developed Core Product, senaparib, in China as a first-line (1L) maintenance therapy for ovarian cancer (OC) across all patient populations regardless of mutation status and demonstrating a compelling clinical profile. Our continued growth is powered by an integrated R&D platform that enables innovation across both small molecules and emerging modalities, including novel antibody-drug conjugates (ADCs) and degraders. Additionally, we have forged partnerships with leading global biotech and China pharmaceutical companies to date, as validation of our pipeline and R&D platform.
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6 Product Pipeline As of the date of this announcement, our pipeline comprised one commercial-stage, four clinical-stage and seven pre-IND stage assets, including small-molecule inhibitors covering key SL targets such as PARP1/2, PARP1, ATR, WEE1, PKMYT1/WEE1, DHX9, ATM, USP1, and CHK1/2, as well as emerging modalities such as CEACAM5-targeted dual-payload ADC and KAT6A specific PROTAC. The following diagram summarizes the development status of our selected drug candidates as of the date of this announcement: Partners Regulatory Authority Last Completed & Upcoming MilestonesCommercial Rights NDA/ MAAPhase IIIPhaseI IPhaseIIND Pre- clinicalTherapyIndicationModalityTargetProduct NMPA (China )• Approval in Jan 2025Mo nother ap yOC (1L maintenance) OralSmal l MoleculePARP1/2IMP4297 Senapari b NMPA (China) / FDA (US)• Phase II data read-out in 2H2026Combo with TMZSCLC NMPA (China) / FDA (US)• Phase Ib data read-out in 2H202 6Combo with IMP9064 OC (PARP- t reated) EMA( EU )• Approval in 2H2026Mo nother ap yOC (1L maintenance) NMPA (China )• Phase I data update in 2H202 6Mo nother ap yBC OralPARP1IMP173 4 NMPA (China )• Phase I data read-out in 2H2026Combo with Abiraterone Prostate Cancer NMPA (China )• Phase I data update in 2H202 6Combo with Paclitaxel NMPA (China )• 1H 2026 Study ini/g415ate d Combo with Paclitaxel and Carbopla ti n OC Advanced Solid Tumor s NMPA (China) / FDA (US)• Phase II completi on in 2H2026Mo nother ap y OralAT RIMP906 4 NMPA (China) / FDA (US)• Phase Ib data read-out in 2H202 6Combo with Senapari b OC (PARP- t reated) NMPA (China )• Phase Ib data read-out in 2H202 6Mo nother ap yOral PARP1 CNS- penetrant IMP170 7 NMPA (China )/ FDA( US )• Phas eI completi on i nM ay 202 4Mo nother ap yOralWEE1IMP706 8 -• INDi n2 H2027Mo nother ap yOralPROTACKAT6 AIMP279 4 -• INDi n2 H2027 Mo nother ap yIVADC with TOPOi+ATR iCEACAM 5IMP320 1 -• INDi n2 H2026Mo nother ap yOralPKMYT1 / WEE1IMP2 2 -• INDi n2 H2026 Mo nother ap yOralDHX9IMP2 5 -• INDi n2 H2026Mo nother ap yOralAT MIMP0 8 -• INDi n 2027Mo nother ap yOralUSP1IMP1 3 -• INDi n2 H2027 Mo nother ap yOralCHK1/2IMP1 0 FLAMES Study (2) (3) (4) (4 ) (4 ) (4 ) (3) (3) (5) (6) (7) (8) Routeo f Administration FLAMES Study (1) Smal l Molecule Smal l Molecule Smal l Molecule Smal l Molecule Smal l Molecule Smal l Molecule Smal l Molecule Smal l Molecule Smal l Molecule OC & BC Advanced Solid Tumor s Advanced Solid Tumor s Advanced Solid Tumor s Advanced Solid Tumor s Advanced Solid Tumor s Advanced Solid Tumor s Advanced Solid Tumor s Advanced Solid Tumor s Advanced Solid Tumor s China Clinical Trial s Global/overseas Clinical Trial s Development Phases Exempted from Clinical Trial s Core Product Key Produc t ODD = Orphan Drug Designa/g415on NDA = New Drug Applica/g415on IND = Inves/g415ga/g415onal New Drug (9) (9) (9) (9) Notes: * Senaparib has been approved for marketing by the National Medical Products Administration (NMPA) of China in January 2025. (1) In June 2019, we submitted the clinical trial designs for both the SABRINA and FLAMES studies with the preliminary Phase I data to the CDE, which confirmed no objection to the commencement of both studies in China in September 2019. Given the favorable Phase I results, the CDE permitted us to proceed directly from Phase I to the Phase III FLAMES study for 1L maintenance therapy in OC without requiring a Phase II study. We held a rapporteur meeting with the European Medicines Agency (EMA) in May 2025 to discuss the submission strategy for senaparib. Following this meeting, we submitted the Marketing Authorisation Application (MAA) based on the FLAMES study as the pivotal trial, supported by two Phase I studies and the Phase II SABRINA study. The MAA was accepted by the EMA in August 2025 and is currently under review. (2) Global trial conducted in the United States, Australia, South Korea and Greater China (3) Global trial conducted in the United States, Australia and Greater China
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7 (4) Global trial conducted in the United States, Australia, Europe, South Korea and China (5) Global trial conducted in the United States, Australia and China (6) Global trial conducted in the United States and Greater China (7) We entered into a contract sales services agreement with Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. (ʮ̡ ) ( “Zhongmei Huadong ”, a wholly owned subsidiary of Huadong Medicine Co., Ltd. (ʮ̡ ) ( “Huadong Medicine ”) (SZ.000963), for the commercialization of senaparib in China. (8) We granted Pharmanovia the exclusive rights to manufacture, develop and commercialise senaparib in 66 countries across Europe, the Middle East and North Africa (MENA), Australia and New Zealand for maintenance monotherapy for advanced epithelial high-grade ovarian, fallopian tube and primary peritoneal cancer. (9) We granted Eikon Therapeutics an exclusive license to develop, register, manufacture and commercialize IMP1734 and IMP1707 outside Greater China. Business Review Our Pipeline During the Reporting Period, we made significant progress advancing our pipeline candidates and business operations. Our key achievements and planned next steps as of the date of this announcement include: • Senaparib (IMP4297) (PARP1/2 Inhibitor) { Core Product o Senaparib (IMP4297) is a PARP1/2 inhibitor approved as 1L maintenance therapy for OC “all-comers ” in China in January 2025. We are actively advancing senaparib ’s clinical and regulatory progress globally and across various indications under a thoughtful plan. In Europe, the Marketing Authorisation Application (MAA) for senaparib as 1L maintenance therapy for OC “all-comers ” was accepted by the EMA in August 2025, with approval expected in the second half of 2026. Given its wide therapeutic window, we are strategically exploring senaparib ’s potential in combination therapies, including (i) with ATR inhibitor IMP9064, our Key Product, in Phase I/II trial for PARP inhibitor-treated OC and (ii) with TMZ in another global Phase Ib/II trial for SCLC, which has received ODD from the FDA. To further expand the therapeutic potential of senaparib, we plan to explore combinations of it with emerging modalities such as ADCs and RDCs.
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8 o During the Reporting Period and up to the date of this announcement, we have achieved the following progress and milestones: Updated Progression-Free Survival (PFS) data from the Phase 3 FLAMES study of senaparib as first-line maintenance therapy of advanced OC have been accepted for poster presentation at the 2026 European Society for Medical Oncology (ESMO) Congress. The annual ESMO Congress is one of the most influential academic conferences in the field of oncology globally, and this year ’s conference will be held in Madrid, Spain from October 23 to 27, 2026. Market coverage of senaparib rapidly expanded following its NRDL inclusion for 1L maintenance therapy for OC “all-comers ”, effective from January 1, 2026. Revenue from sales of senaparib in China reached RMB70.4 million for the six months ended June 30, 2026, representing an increase of approximately RMB63.2 million, or 877.8%, compared to RMB7.2 million for the six months ended June 30, 2025. o Accelerated Market Penetration Following NRDL Listing Senaparib ’s first-line all comer ovarian cancer indication was added to the 2025 National Reimbursement Drug List (NRDL), effective January 1, 2026. Reimbursement coverage has substantially reduced patients ’ financial burden, boosted prescription uptake and facilitated easier drug access for eligible patients. The Company sped up multi-channel market access roll out across hospitals and dual channel pharmacies during the Reporting Period. Senaparib has achieved full provincial level coverage across mainland China via formal hospital admission, temporary procurement and retail pharmacy partnerships. As of June 30, 2026, senaparib was available at more than 380 specialty and community pharmacies nationwide and achieved coverage of nearly 1,200 medical institutions. o Rising Clinical Endorsement and Advancing Real-World Adoption Backed by solid clinical evidence demonstrating the benefit of senaparib as first- line maintenance therapy for all comer ovarian cancer patients, the drug has won broad recognition from gynecologic oncology specialists. Senaparib has been included in (i) the Guidelines for the Diagnosis and Treatment of Ovarian Cancer (2025 Edition) issued by the Chinese Society of Clinical Oncology , (ii) the Chinese Clinical Practice Guidelines for Gynecologic Oncology (2025 Edition) and the Clinical Application Guidelines for PARP Inhibitors in Ovarian Cancer (2025 Edition) issued by the Chinese Society of Gynecological Oncology , and (iii) the CACA Guidelines for Holistic Integrative Management of Cancer – Ovarian Cancer Section (2025 Edition) issued by the China Anti-Cancer Association . All of the forementioned guidelines have recommended senaparib as first-line maintenance therapy after platinum-based chemotherapy for advanced EOC regardless of BRCA/HRD status. Targeted medical education and academic programmes have enhanced clinicians ’ awareness of senaparib ’s efficacy, safety and broad eligible patient population. Accumulating guideline consensus has also strengthened physician confidence in using senaparib for front line ovarian cancer maintenance treatment.
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9 Warning under Rule 18A.08(3) of the Listing Rules: There is no assurance that senaparib will ultimately be successfully developed and marketed by our Company for additional indications beyond its current approved indication. • IMP1734 (also known as EIK1003) (PARP1 Selective Inhibitor) { Key Product o IMP1734 is a highly potent, next-generation PARP1 selective inhibitor, currently being evaluated as monotherapy and as combination therapies in a global Phase I/II trial for advanced solid tumors. IMP1734 has shown over 648-fold selectivity for PARP1 over PARP2, which may contribute to lower hematologic toxicity, improved safety, high exposure, and broad opportunities to combine with other anti-tumor agents. In Phase I dose escalation portion, IMP1734 monotherapy shows a favorable pharmacokinetic (PK) profile and is well tolerated with mostly low-grade AEs that are manageable and/ or self-limiting. Encouraging anti-tumor activity was observed in heavily pre-treated patients with homologous recombination repair (HRR) mutations, which are often associated with more aggressive disease and poorer outcomes. Following completion of Cohort 1A dose escalation, we initiated the Phase II dose optimization portion (Part 2) evaluating two dose levels of IMP1734 monotherapy, 20 mg and 60 mg, to determine the optimal Phase 2 dose for IMP1734. Approximately 30 PARPi-naïve, HER2-negative breast cancer patients are expected to be enrolled at each dose level. Enrollment for the Part 2 dose optimization portion is ongoing. We are also investigating IMP1734 in multiple combination regimens, including with abiraterone as well as paclitaxel to maximize its clinical potential. Safety and preliminary efficacy data from this ongoing Phase I/II study were presented at 2026 ASCO; updated clinical data will be presented at the 2026 ESMO Congress. An additional Cohort 1D, evaluating IMP1734 in combination with paclitaxel and platinum-based chemotherapeutic regimens in patients with ovarian cancer has been initiated for enrollment. To advance IMP1734 (also known as EIK1003) and IMP1707 (also known as EIK1004), we have entered into a global partnership with Eikon Therapeutics since June 2023. Under the partnership, we and Eikon are jointly advancing the clinical development of IMP1734 and IMP1707, with us responsible for the clinical trial activities in China. o During the Reporting Period and up to the date of this announcement, we have achieved the following progress and milestones: Updated data from multiple cohorts of ongoing Phase 1/2 studies, covering monotherapy, combination therapy with paclitaxel for advanced solid tumors, and combination therapy with abiraterone for metastatic prostate cancer, have been accepted for poster presentation at the 2026 ESMO Congress.
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10 The latest Phase 1/2 clinical data were presented in a poster session at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting, held from May 29 to June 2, 2026, in Chicago, USA. IMP1734 monotherapy demonstrated durable antitumor activity and a favorable safety profile in a heavily pre-treated patient population with homologous recombination repair (HRR)-mutated advanced solid tumors. The clinical data for IMP1734 in combination with weekly paclitaxel provided the first clinical evidence that a PARP1-selective inhibitor can be safely combined with cytotoxic chemotherapy, thereby enabling a combination approach that was previously not feasible with non-selective PARP inhibitors. Key highlights of the latest Phase 1/2 clinical data include the following: Updated Results from IMP1734 Monotherapy (Cohort 1A). Among 49 efficacy-evaluable patients with advanced solid tumors, the objective response rate (ORR) was 14.3%; all 7 responses were partial responses (PR). The disease control rate (DCR) was 38.8%. For confirmed responders, the median duration of response (DOR) was 7.8 months (range: 6.0-15.9+ months). In PARP inhibitor-naïve patients, the ORR was 26.7%. The safety profile was consistent with prior data and was generally favorable. Results from IMP1734 in Combination with weekly Paclitaxel (Cohort 1C). Among 53 efficacy-evaluable patients, the ORR was 24.5%, including 1 confirmed complete response (CR) and 12 partial responses (PR). Of these responders, 92% had prior taxane exposure, indicating that the antitumor activity was observed despite prior taxane exposure. By tumor type, the ORR was 29.6% in patients with epithelial ovarian cancer and 19.2% in patients with HER2 – breast cancer. IMP1734 + weekly paclitaxel showed a manageable safety profile in an advanced line population, with Grade ≥3 TEAEs occurring in 75.0% of patients. The most common Grade ≥3 TEAEs were neutropenia (50.0%) and anemia (13.3%). All 8 participants who developed Grade ≥3 anemia had Grade 1-2 anemia at baseline. No unexpected safety signals were observed, and the hematologic toxicity profile was manageable in this heavily pre-treated population and in line with the effects of the weekly paclitaxel.
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11 Warning under Rule 18A.08(3) of the Listing Rules: There is no assurance that IMP1734 will ultimately be successfully developed and marketed by our Company. • IMP9064 (ATR Inhibitor) { Key Product o IMP9064 is the first ATR selective inhibitor advanced into clinical stage in China currently being evaluated as monotherapy and as combination therapies in a global Phase I/II trial for advanced solid tumors. In Phase I dose escalation portion, IMP9064 monotherapy shows a favorable safety profile and is well-tolerated under intermittent dosing. Preliminary efficacy signals have been observed, including a durable partial response (PR) in endometrial carcinoma. PK and pharmacodynamics (PD) analysis indicates exposure-dependent target engagement. The Phase II portion is ongoing to further explore the efficacy and safety of IMP9064 as monotherapy for advanced endometrial carcinoma, with trial completion expected in the second half of 2026. We are also evaluating IMP9064 in combination with senaparib in PARP inhibitor resistant ovarian cancer and pancreatic cancer. We plan to further evaluate IMP9064 in combination with other anticancer therapies, e.g., irinotecan and ADC, in advanced gastrointestinal cancers. o During the Reporting Period and up to the date of this announcement, we have achieved the following progress and milestones: The initial data from the first dose cohort of IMP9064 in combination with senaparib in ovarian cancer patients who have progressed after previous PARP inhibitors showed good safety and tolerability with early efficacy signal. Most TEAEs were mild or moderate; no Grade ≥ 3 TEAEs or SAEs were reported in this cohort. Among the first three patients who have had at least one post-baseline tumor assessment, two demonstrated tumor shrinkage, including 1 partial response (PR). Warning under Rule 18A.08(3) of the Listing Rules: There is no assurance that IMP9064 will ultimately be successfully developed and marketed by our Company. • IMP1707 (CNS-Penetrant PARP1 Selective Inhibitor) { Other Pipeline Asset o IMP1707 is a central nervous system (CNS)-penetrant, PARP1 selective inhibitor, and notably, one of the few PARP1 selective inhibitors capable of crossing the blood-brain barrier. It has achieved complete tumor regression in brain cancer models and is currently being evaluated in a Phase I trial. IMP1707 has shown over 800-fold selectivity for PARP1 over PARP2, with excellent antiproliferative effect on cell lines with BRCA mutation (BRCAmut) or deletion in in vitro assays. It also demonstrated robust tumor regression in cell line-derived xenograft (CDX) models of BRCAmut cancers with a minimally efficacious dose of 0.2 mg/kg, indicating IMP1707 ’s potential as a high-impact treatment at low doses. In addition, IMP1707 penetrates the brain with a Kpuu of 0.5 in both mouse and rat, a level suggesting therapeutic relevance and results in complete tumor regression in a brain cancer model. These results confirmed that IMP1707 demonstrates favorable brain penetration and exhibits robust efficacy in brain cancer models. Initial results from the ongoing first-in-human study in patients with HRR-mutated advanced solid tumors will be presented at the 2026 ESMO Congress. o During the Reporting Period and up to the date of this announcement, we have achieved the following progress and milestones: Initial results from the first-in-human Phase 1/2 study in patients with HRR-mutated advanced solid tumors have been accepted for poster presentation at the 2026 ESMO Congress.
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12 Warning under Rule 18A.08(3) of the Listing Rules: There is no assurance that IMP1707 will ultimately be successfully developed and marketed by our Company. • We also have a broad pipeline of clinical-stage and pre-IND stage assets targeting key SL targets such as WEE1, PKMYT1/WEE1, DHX9, ATM, USP1, and CHK1/2, as well as emerging modalities such as CEACAM5-targeted dual-payload ADC and KAT6A specific PROTAC o IMP3201 is a CEACAM5-targeted, uniquely designed dual-payload ADC with Exatecan (TOPOi) and our proprietary ATR inhibitor (ATRi) at a defined and optimized molar ratio. IMP3201 shows significantly enhanced in vitro and in vivo anti-tumor activity as well as a favorable therapeutic window through precise targeting, stable circulation, and controlled payload release. The candidate will be developed for the treatment of gastrointestinal malignancies, including colorectal cancer, pancreatic cancer, gastric cancer and esophageal squamous cell carcinoma, addressing substantial unmet clinical needs. o IMP2794 is a potent and selective KAT6A degrader, with over 1,000-fold selectivity against KAT6B. The compound displays potent in vitro cytotoxic activity against tumor cells and minimal hematopoietic toxicity. It demonstrates significant in vivo antitumor efficacy in both sensitive and insensitive breast cancer CDX models. Notably, IMP2794 achieves remarkably high oral bioavailability across multiple rodent and non-rodent species, indicating strong potential for optimal human systemic exposure. o During the Reporting Period and up to the date of this announcement, we have achieved the following progress and milestones: IMP3201, a novel first-in-class CEACAM5-targeted dual-payload ADC, has been nominated by us as a pre-clinical candidate (PCC). This nomination represents the first PCC from our proprietary dual-payload ADC platform, validating the platform ’s technical maturity and productivity. This platform accelerates the development of dual-payload ADCs based on SL and using a structurally diverse molecule library, including super-potent SL inhibitors. These payloads are optimized for tumor-specific delivery and precise intracellular release. Rapid antibody conjugation workflows further enhance cost-efficiency and adaptability to indication-specific biomarkers, enabling faster and more targeted ADC development. IMP2794, a KAT6A specific PROTAC, has been nominated by us as a PCC. This nomination represents the first PCC from our proprietary targeted protein degradation platform encompassing Proteolysis Targeting Chimeras (PROTACs), validating the platform ’s technical maturity and productivity. Our degrader platform leverages a comprehensive E3 ligand library and linker library for rapid PROTAC assembly. These tools enable selective and tunable degradation of previously “undruggable ” targets, expanding therapeutic windows and reducing toxicity. Mechanistic complementarity with the linker-payload platform supports a multi-dimensional approach to cancer target engagement. Warning under Rule 18A.08(3) of the Listing Rules: There is no assurance that IMP3201 and IMP2794 will ultimately be successfully developed and marketed by our Company.
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13 Emerging Technology Platforms We advance new generation of oncology therapeutics through two complementary platforms: a linker-payload platform for novel ADC development and a targeted protein degradation platform encompassing PROTACs and molecular glues. These platforms address the limitations of conventional small molecule inhibitors by enabling precise, potent and selective engagement of cancer dependency targets and together form a multidimensional strategy that strengthens translation from bench to bedside. Guided by resource reuse and precise adaptation as core principles, we consolidate specialized molecular libraries into a streamlined solution from module screening to rapid assembly. This approach repurposes accumulated assets, including high-potency SL molecules and previously challenging compounds, into modular toolkits that support dual-payload ADCs and other tailored modalities. The modular design accelerates target validation and lead optimization across indications while lowering barriers to druggability. • Robust Linker-Payload Platform for ADC o This platform accelerates development of dual-payload ADCs by leveraging SL and a structurally diverse small molecule library that includes super-potent SL inhibitors. The modular design for linker and payloads is optimized for fixed molar ratio delivery and controlled intracellular release, and streamlined antibody conjugation workflows enhance cost efficiency while enabling rapid adaptation to specific indication development. o The ADC linker-payload library is a key internal resource curated from high-potency SL compounds from past and ongoing projects, including molecules with strong tumoricidal activity but suboptimal pharmacokinetic properties. Through targeted chemical modification and conjugation to diverse linkers we assemble a structurally rich Linker-Payload module library that can be rapidly paired with targeting antibodies based on tumor microenvironment features and biomarker expression. This strategy removes the need to redesign highly toxic payloads and, by tuning linker attributes, couples antibody-guided delivery with precise payload release to improve R&D efficiency and support SL-driven dual-payload ADC design. • Targeted Protein Degradation Platform o Our degrader platform comprises a diversified E3 ligand collection and linker library for rapid PROTAC assembly and a structurally broad molecular glue portfolio for PPI mediated degradation. The E3 ligand collection targets areas where conventional small molecule inhibitors struggle to achieve druggability or family member selectivity. We have built a varied set of E3 ligands through structure { activity relationship optimization and multidimensional structural modification to enhance intracellular stability and tissue penetration. Taking into account target protein subcellular localization, expression level and spatial compatibility with E3 ligases, these ligands can be efficiently paired with target binders to assemble PROTAC molecules that enable selective degradation within homologous protein families, reduce toxicity associated with low selectivity and expand the therapeutic windows.
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14 o Our E3 ligand and linker toolbox continue to expand, featuring more than 50 novel E3 ligands with excellent physiological stability, and great selectivity over neo-substrates. In parallel, we have established a diversified linker toolbox comprising over 100 chemotypes, including rigid and flexible linkers with varied lengths, enabling broad and efficient optimization of degrader design. Business Development • Exclusive license agreement with Pharmanovia for senaparib in Europe, Middle East and North Africa, Australia and New Zealand o In July 2026, we entered into an exclusive partnership with Pharmanovia, a global specialty pharmaceutical company which partners with innovative biotech and large pharma to bring innovative specialty medicines to patients, to grant Pharmanovia the exclusive rights to manufacture, develop and commercialise senaparib in Europe, Middle East and North Africa, Australia and New Zealand for maintenance monotherapy for advanced epithelial high-grade ovarian, fallopian tube and primary peritoneal cancer. o We are eligible to receive an upfront payment plus near-term regulatory milestones and commercial milestone payments upon achieving certain sales thresholds, with a total amount up to EUR423.5 million, and such further tiered royalties up to the mid-twenties (%) on product net sales. o The exclusive partnership expands senaparib ’s global reach to 66 countries. Future and Outlook Looking forward, we will continue to execute our four key strategies: (i) unlock the full-cycle value of senaparib as the cornerstone of our growth through commercialization, indication expansion and global development; (ii) enhance our synthetic lethality capabilities by strategically developing our pipeline; (iii) maximize the value of pipeline assets through global partnerships; and (iv) invest in R&D to expand innovation frontiers and maintain a competitive edge. We expect continued R&D expenditures as we advance our preclinical and clinical development programs, as well as other operating costs. Cautionary Statement under Rule 18A.08(3) of the Listing Rules: Our Company cannot guarantee that it will be able to successfully develop or ultimately market our Core Product, senaparib. AWARDS AND RECOGNITION In June 2026, two projects for senaparib in respect of the commercialization of innovative drugs and the clinical development of new drugs, respectively, were selected for inclusion in the “2026 Shanghai Biopharmaceutical Innovative Product Key Research Project List ” ( “2026ɪऎ Ҹᗫධͦఊ ”) by the Science and Technology Commission of Shanghai Municipality (ึ ). In May 2026, the Company was named among the “2026 Future Healthcare Top 100 – Top 100 Innovative Pharmaceuticals and Biologics ” ( “2026 ͊Ըᔼᐕ 100 TOP100 ”) and the “Top 50 Most Investment-Worthy Companies in China ’s Healthcare Industry ” (“Άุ 50 ੶”) by VCBeat ( ਗএၣ).
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15 In February 2026, the Company was named among the “New Quality 100 Innovative Enterprises ” (“อሯ100 ௴อΆุ ”) by The Economic Observer (ᝈ࿀జ). FINANCIAL REVIEW Revenue For the six months ended June 30, 2026 and 2025, our revenue was RMB105.2 million and RMB25.2 million, respectively. Our revenue was derived from out-licensing revenue and the sales of pharmaceutical products. Licensing revenue was derived from milestone payments under the collaboration agreement with Eikon Therapeutics. The sales of pharmaceutical products represented revenue generated from the sales of senaparib in China. The following table sets forth a breakdown of our revenue by type of goods or services in absolute amounts and as percentages of the total revenue for the periods indicated. Six Months Ended June 30, 2026 2025 (RMB’000) % (RMB’000) % Sales of pharmaceutical products 70,351 66.9 7,232 28.7 Licensing revenue 34,839 33.1 18,004 71.3 Total 105,190 100.0 25,236 100.0 The following table sets forth a breakdown of our revenue by geographical markets in absolute amounts and as percentages of the total revenue for the periods indicated: Six Months Ended June 30, 2026 2025 (RMB’000) % (RMB’000) % Chinese Mainland 70,351 66.9 7,232 28.7 United States of America 34,839 33.1 18,004 71.3 Total 105,190 100.0 25,236 100.0 Cost of Sales For the six months ended June 30, 2026 and 2025, our cost of sales was RMB9.7 million and RMB0.6 million, respectively, primarily due to the increase from sales of pharmaceutical products. Our cost of sales was primarily attributable to raw material procurement, manufacturing expenses, and personnel costs associated with the production of senaparib. Gross Profit and Gross Profit Margin For the six months ended June 30, 2026 and 2025, our gross profit was RMB95.5 million and RMB24.6 million, respectively. For the same periods, our gross profit margin was 90.8% and 97.7%, respectively.
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16 Other Income and Gains, Net For the six months ended June 30, 2026 and 2025, our other income and gains were RMB29.4 million and RMB4.2 million, respectively. Our other income mainly consisted of government grants, bank interest income and investment income on financial assets at fair value through profit or loss. For the six months ended June 30, 2025 and 2026, our government grants were RMB0.3 million and RMB25.7 million, respectively, with the material increase primarily due to increased government subsidies. The following table sets forth a breakdown of our other income and gains in absolute amounts and as percentages of the total other income and gains for the periods indicated: Six Months Ended June 30, 2026 2025 (RMB’000) % (RMB’000) % Other income: Government grants 25,672 87.2 286 6.8 Bank interest income 2,670 9.1 1,550 36.8 Investment income on financial assets at fair value through profit or loss 981 3.3 2,350 55.8 Others 89 0.3 – – Gains: Gain on disposal of other intangible assets 16 0.1 – – Unrealized gains from financial assets at fair value through profit or loss – – 24 0.6 Total 29,428 100.0 4,210 100.0 R&D Expenses Our R&D expenses primarily consisted of (i) clinical service fees, (ii) staff costs, (iii) non-clinical service fees, (iv) share-based payments and (v) others. The following table sets forth a breakdown of our R&D expenses in absolute amounts and as percentages of the total R&D expenses for the periods indicated: Six Months Ended June 30, 2026 2025 (RMB’000) (RMB’000) Clinical service fees 27,149 27.8 11,809 13.7 Staff costs 26,608 27.3 26,663 30.9 Non-clinical service fees (1) 25,739 26.4 15,926 18.4 Share-based payments 13,764 14.1 29,366 34.0 Others 4,377 4.4 2,573 3.0 Total 97,637 100.0 86,337 100.0 Note: (1) Non-clinical service fees primarily consist of R&D service fees related to clinical trials indirectly, including the expenses of manufacturing of investigational drug candidates, process optimization, preclinical pharmacokinetic studies, and toxicology studies.
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17 Our research and development expenses increased by 13.1% from RMB86.3 million for the six months ended June 30, 2025 to RMB97.6 million for the six months ended June 30, 2026, primarily due to (i) increased expenses incurred in connection with the EMA review of the MAA for senaparib and (ii) increased preclinical R&D activities for our early-stage drug candidates. Administrative Expenses Our administrative expenses increased by approximately 72.3% from RMB29.2 million for the six months ended June 30, 2025 to RMB50.3 million for the six months ended June 30, 2026, which was primarily due to an increase in listing expenses in connection with our Listing on the Stock Exchange in May 2026. Selling and Distribution Expenses Our selling and distribution expenses increased significantly from RMB5.2 million for the six months ended June 30, 2025 to RMB22.8 million for the six months ended June 30, 2026, primarily due to an increase in service fees for market coverage expansion and CSO services, in line with the sales growth of senaparib and the expansion of our business scale. Finance Costs Our finance costs decreased from RMB34.1 million for the six months ended June 30, 2025 to RMB24.8 million for the six months ended June 30, 2026, primarily due to a decrease in interest on redemption liabilities as a result of the Listing on the Stock Exchange. Other Expenses Our other expenses increased from RMB2.7 million for the six months ended June 30, 2025 to RMB20.1 million for the six months ended June 30, 2026, primarily due to an increase in net foreign exchange losses as a result of the fluctuation in foreign exchange rates. Income Tax Expense Our income tax expense was nil and nil for the six months ended June 30, 2025 and 2026, respectively. Loss for the Period As a result of the foregoing, we recorded a loss of RMB128.7 million and RMB90.8 million for the six months ended June 30, 2025 and 2026, respectively. Material Acquisitions and Disposals We did not have any material acquisitions or disposals of subsidiaries, associates, and joint ventures during the Reporting Period.
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18 Capital Structure, Liquidity and Financial Resources As of June 30, 2026, our cash and cash equivalents, time deposits and financial assets at fair value through profit or loss were RMB1,065.4 million in aggregate, as compared to RMB258.5 million as of December 31, 2025. The increase was primarily due to the proceeds from the Global Offering received in May 2026 and the cash generated from the sales of senaparib. As of June 30, 2026, our current assets were RMB1,144.8 million, including inventories of RMB24.9 million, trade receivables of RMB38.0 million, prepayments, other receivables and other assets of RMB16.5 million, financial assets at fair value through profit or loss of RMB9.9 million, time deposits of RMB234.9 million, restricted cash of RMB1 thousand and cash and cash equivalents of RMB820.6 million. As of June 30, 2026, our current liabilities were RMB142.0 million, including trade payables of RMB57.3 million, other payables and accruals of RMB70.8 million, financial liabilities at fair value through profit or loss of RMB10.4 million and lease liabilities of RMB3.5 million. During the period ended June 30, 2026, net cash flows from operating activities of our Group amounted to RMB24.4 million, representing a decrease of RMB5.8 million compared to RMB30.2 million during the period ended June 30, 2025. The decrease was mainly due to an increase in trade receivables of RMB30.6 million as a result of increased revenue from sales of senaparib, partially offset by an increase in other payables and accruals of RMB66.2 million, as compared with RMB0.7 million and RMB94.2 million, respectively, for the corresponding period in 2025. During the period ended June 30, 2026, our net cash flows used in investing activities were RMB249.1 million, compared to RMB68.8 million for the six months ended June 30, 2025. This change was mainly due to the placement of time deposits of RMB234.1 million for the six months ended June 30, 2026. During the period ended June 30, 2026, net cash flows from financing activities of our Group increased to RMB796.3 million from RMB19.0 million during the period ended June 30, 2025. The increase was mainly due to the proceeds from issue of shares as a result of the Listing on the Stock Exchange. We primarily invest in low-risk financial products, such as principal-protected structured deposits. We have established a treasury management policy to standardize the types of financial products and their purchase procedures. In practice, investment transactions are initiated by the finance department. Transactions involving products with a risk rating of R1 or higher are subject to compliance review by the compliance and internal control or legal affairs departments, followed by review and approval by the head of the finance department. Transactions involving products with a risk rating of R2 or higher are additionally subject to final approval by our chief executive officer. Going forward, we believe our liquidity requirements will be satisfied by a combination of net proceeds from the Global Offering, cash generated from continued commercialization of senaparib, and milestone payments and royalties under our agreement with Eikon and other business partners.
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19 Indebtedness We had indebtedness in the form of lease liabilities, financial liabilities at fair value through profit or loss and redemption liabilities on ordinary shares. The following table sets forth a breakdown of our indebtedness as of the dates indicated: As of December 31, 2025 As of June 30, 2026 (RMB’000) (RMB’000) Current Lease liabilities 3,655 3,479 Financial liabilities at fair value through profit or loss 5,209 10,368 Non-current Lease liabilities 1,780 751 Financial liabilities at fair value through profit or loss 33,921 29,095 Redemption liabilities on ordinary shares 980,224 – Total 1,024,789 43,693 Except as discussed above, we did not have any other material mortgages, charges, debentures, loan capital, debt securities, loans, bank overdrafts or other similar indebtedness, finance lease or hire purchase commitments, liabilities under acceptances (other than normal trade bills), acceptance credits, which are either guaranteed, unguaranteed, secured or unsecured, or guarantees or other contingent liabilities as of June 30, 2026. We did not experience any difficulty in obtaining bank loans and other borrowings, default in payment of bank loans and other borrowings or material breach of covenants during the Reporting Period. As of June 30, 2026, we did not have unutilized banking facilities. Capital Expenditure For the six months ended June 30, 2026, our total capital expenditure amounted to RMB0.2 million, consisting of purchases of items of property, plant and equipment and other intangible assets. Capital Commitments As of June 30, 2026, we did not have any capital commitment. Contingent Liabilities As of June 30, 2026, we did not have any material contingent liabilities.
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20 Pledge of Assets There was no pledge of our Group ’s assets as of June 30, 2026. Foreign Exchange Risk Exposure Certain of our cash and bank balances are denominated in foreign currency of respective group entities which expose us to foreign currency risk. Foreign exchange risk arises when future commercial transactions or recognized assets and liabilities are denominated in a currency that is not the respective functional currency of our subsidiaries. Our functional currency outside Chinese Mainland is USD and AUD whereas the functional currency of the subsidiaries operating in Chinese Mainland is RMB. Taking into account the potential USD and AUD exchange rate fluctuations, the Group will continue to monitor its foreign exchange exposure and take prudent measures to reduce its foreign exchange risk. For the six months ended June 30, 2026, the Group did not use any financial instruments for hedging purposes. Significant Investments Held The Group did not hold any significant investments with a value of 5% or more of the Group ’s total assets as of June 30, 2026. Employees and Remuneration Policies As of June 30, 2026, our Group had 88 employees in total (December 31, 2025: 89 employees in total). The total remuneration costs amounted to RMB59.9 million for the six months ended June 30, 2026, as compared to RMB80.3 million for the six months ended June 30, 2025. The decrease in total remuneration was mainly due to the decrease in non-cash share-based payments. We are committed to ensuring that working conditions throughout our business network are safe and that employees are treated with care and respect. We believe we offer our employees competitive compensation packages, reflecting our stakeholder-centric ethos which we believe leads to sustainable and durable growth. As required by PRC regulations, we participate in various government statutory employee benefit plans, including social insurance, namely pension insurance, medical insurance, unemployment insurance, work-related injury insurance, maternity insurance, and housing funds. We are required under PRC law to make contributions to employee benefit plans at specified percentages of the salaries, bonuses and certain allowances of our employees, up to a maximum amount specified by the local government regulations from time to time. The Group also provides continuous learning and training programs to its employees to enhance their skills and knowledge, so as to maintain their competitiveness and improve customer service quality. The Group did not experience any major difficulties in recruitment, nor did it experience any material loss in manpower or suffer from any material labor dispute during the Reporting Period.
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21 CORPORATE GOVERNANCE Compliance with the Law and Regulation During the Reporting Period, the Company ’s business had complied with the relevant laws and regulations in all material aspects and had not seriously breached or violated any laws and regulations applicable to the Company which would result in a material and adverse impact on the business or financial condition of the Company as a whole. Compliance with the Corporate Governance Code The Company has adopted the code provisions of the Corporate Governance Code (the “Corporate Governance Code ”) contained in Part 2 of Appendix C1 to the Listing Rules as its own code of corporate governance. The Company is committed to achieving high standards of corporate governance with a view to safeguarding the interests of the Shareholders and to enhancing corporate value and accountability. The Board is of the view that the Company has complied with all applicable code provisions of the Corporate Governance Code as its own code of corporate governance practice since the Listing Date and up to June 30, 2026. The Company will continue to review and enhance its corporate governance practices to ensure compliance with the Corporate Governance Code. Compliance with the Model Code for Securities Transactions The Company has adopted a code of conduct regarding the Directors ’ and employees ’ securities transactions on terms no less exacting than the required standards set out in the Model Code. Having made specific enquiries with all Directors, each of them has confirmed that he/she has complied with our Company ’s code of conduct regarding the Directors ’ and employees ’ securities transactions during the Reporting Period. No incident of non-compliance of the Model Code by the employees who are likely to be in possession of inside information of the Company was noted by the Company since the Listing Date and up to June 30, 2026. USE OF PROCEEDS Use of Proceeds from the Global Offering The Company issued 41,977,000 H Shares at HK$20.10, which were listed on the Main Board of the Stock Exchange on the Listing Date, and issued 6,296,400 H Shares at HK$20.10 upon the full exercise of the Over-allotment Option, which were listed on the Main Board of the Stock Exchange on June 10, 2026. We received net proceeds (after deduction of underwriting commissions and related costs and expenses) from the Global Offering (following full exercise of the Over-allotment Option) of approximately HK$879 million.
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22 The following table sets forth the planned use of the net proceeds and the actual use as at June 30, 2026: Proposed use Net proceeds from Global Offering (including the proceeds from full exercise of the over- allotment option) Percentage of net proceeds as stated in the Prospectus Utilized net proceeds from Listing Date to June 30, 2026 Balance of net proceeds unutilized as of June 30, 2026 Expected timetable for the full utilization of unutilized proceeds (HK$ million ) (a) To fund Senaparib (Core Product) – clinical development, regulatory approval & commercialization 448.29 51% 38.37 409.92 By end of 2028 (i) Clinical development & regulatory approval in OC 263.70 30% 11.15 252.55 By end of 2028 (ii) Combination therapies in other advanced solid tumors 131.85 15% 0.04 131.81 By end of 2029 (iii) Commercialization in China as 1L maintenance therapy for OC “all-comers ” 52.74 6% 27.18 25.56 By end of 2028 (b) To fund our Key Products – IMP1734 & IMP9064 272.49 31% 3.93 268.56 By end of 2028 (i) Clinical trials of IMP1734 184.59 21% 2.80 181.79 By end of 2028 (ii) Phase I/II trial of IMP9064 monotherapy and combination therapies for the treatment of advanced solid tumors 87.90 10% 1.13 86.77 By end of 2028 (c) To fund other pipeline assets (IMP1707, IMP7068, IMP22, IMP25, IMP08, IMP13, IMP10) 70.32 8% 1.82 68.50 By end of 2028 (d) To fund R&D platforms & pipeline expansion 70.32 8% 11.34 58.98 By end of 2027 (i) Continued development of self- developed R&D platforms 52.74 6% 5.55 47.19 By end of 2027 (ii) Exploration and development of small molecule inhibitors 17.58 2% 5.79 11.79 By end of 2027 (e) Working capital & general corporate purposes 17.58 2% 1.28 16.30 Total 879.00 100% 56.74 822.26 As of the date of this announcement, there was no change in the intended use of net proceeds as previously disclosed in the section headed “Future Plans and Use of Proceeds ” in the Prospectus. The Company intends to use the net proceeds in the manner consistent with the above. The completion time for the use of such proceeds will be determined based on the Company ’s actual business needs and future business development.
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23 AUDIT COMMITTEE The Company has established the Audit Committee with written terms of reference in compliance with Rule 3.21 of the Listing Rules and the Corporate Governance Code. The primary duties of the Audit Committee are to review and supervise the financial reporting process, the risk management and internal controls systems of the Group, to review connected transactions and to advise the Board accordingly. The Audit Committee has three members, comprising two independent non-executive Directors and one non-executive Director, namely Mr. Chi Hung Siu ( ጽқඪ) (chairperson), Dr. Edward Ming GUO (and Mr. Tao LIU ( ᄎᏹ). The chairperson of the Audit Committee possesses the appropriate professional qualification, and accounting and financial management expertise as required under Rules 3.10(2) and 3.21 of the Listing Rules. Review of the Unaudited Consolidated Financial Statements The Audit Committee, together with the Company ’s auditor, Ernst & Young (The “Auditor ”), management of the Company, has reviewed the unaudited interim results of the Group for the six months ended June 30, 2026. The Audit Committee has also reviewed the accounting policies and practices adopted by the Group and discussed the risk management, internal control, regulatory compliance and financial reporting matters with senior management of the Company. The Auditor, has performed an independent review of the Group ’s unaudited interim financial information for the six months ended June 30, 2026 in accordance with Hong Kong Standard on Review Engagements 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity ” as issued by the Hong Kong Institute of Certified Public Accountants. IMPORTANT EVENTS AFTER THE REPORTING PERIOD Save as disclosed in this announcement and as of the date of this announcement, there were no other significant events after the end of the Reporting Period. PURCHASE, SALE OR REDEMPTION OF THE COMPANY ’S LISTED SECURITIES OR SALE OF TREASURY SHARES During the Reporting Period, neither the Company nor any of its subsidiaries has purchased, sold or redeemed any of the Company ’s listed securities (including sale of treasury shares). As of June 30, 2026, the Company did not hold any treasury shares. INTERIM DIVIDEND The Board has resolved not to recommend an interim dividend for the six months ended June 30, 2026 (six months ended June 30, 2025: Nil).
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24 INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2026 Notes 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Revenue 4 105,190 25,236 Cost of sales (9,714) (588) Gross profit 95,476 24,648 Other income and gains, net 29,428 4,210 Research and development expenses (97,637) (86,337) Administrative expenses (50,297) (29,242) Selling and distribution expenses (22,845) (5,226) Finance costs (24,831) (34,055) Other expenses (20,104) (2,728) LOSS BEFORE TAX 5 (90,810) (128,730) Income tax expense 6 – – LOSS FOR THE PERIOD (90,810) (128,730) Attributable to: Owners of the parent (90,810) (128,730) OTHER COMPREHENSIVE (LOSS)/INCOME Other comprehensive (loss)/income that may be reclassified to profit or loss in subsequent periods: Exchange differences on translation of foreign operations (175) 91 OTHER COMPREHENSIVE (LOSS)/INCOME FOR THE PERIOD, NET OF TAX (175) 91 TOTAL COMPREHENSIVE LOSS FOR THE PERIOD (90,985) (128,639) Attributable to: Owners of the parent (90,985) (128,639) LOSS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT Basic and diluted (RMB) 8 (0.37) (0.58)
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25 INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS OF JUNE 30, 2026 Notes As at 30 June 2026 As at 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) NON-CURRENT ASSETS Property, plant and equipment 9 609 614 Right-of-use assets 4,352 5,341 Other intangible assets 3,987 4,674 Prepayments, other receivables and other assets 995 915 Total non-current assets 9,943 11,544 CURRENT ASSETS Inventories 24,883 26,978 Trade receivables 10 38,027 7,443 Prepayments, other receivables and other assets 16,548 30,022 Financial assets at fair value through profit or loss 9,887 – Time deposits 234,937 – Restricted cash 1 1 Cash and cash equivalents 820,553 258,534 Total current assets 1,144,836 322,978 Total assets 1,154,779 334,522 CURRENT LIABILITIES Trade payables 11 57,296 49,864 Other payables and accruals 70,809 46,062 Financial liabilities at fair value through profit or loss 10,368 5,209 Lease liabilities 3,479 3,655 Total current liabilities 141,952 104,790 NET CURRENT ASSETS 1,002,884 218,188 TOTAL ASSETS LESS CURRENT LIABILITIES 1,012,827 229,732 NON-CURRENT LIABILITIES Other payables and accruals 207,210 171,698 Lease liabilities 751 1,780 Financial liabilities at fair value through profit or loss 29,095 33,921 Redemption liabilities on ordinary shares – 980,224 Total non-current liabilities 237,056 1,187,623 Net assets/(liabilities) 775,771 (957,891) EQUITY Equity attributable to owners of the parent Share capital 12 282,462 234,188 Reserves 493,309 (1,192,079) Total equity/(deficits) 775,771 (957,891)
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26 INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2026 Six months ended 30 June Notes 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES Loss before tax (90,810) (128,730) Adjustments for: Bank interest income (2,670) (1,550) Investment income on financial assets at fair value through profit or loss (981) (2,350) Finance costs 24,831 34,055 Equity-settled share-based payment expense 19,315 38,912 Foreign exchange differences, net 5 9,397 704 Unrealised losses/(gains) from financial assets at fair value through profit or loss 6,113 (24) Change in fair value of financial liabilities at fair value through profit or loss 2,092 2,022 Depreciation of property, plant and equipment 5 160 234 Depreciation of right-of-use assets 5 1,534 1,457 Amortisation of other intangible assets 5 590 546 Gain on disposal of other intangible assets 5 (16) – (30,445) (54,724) Increase in trade receivables (30,584) (654) Decrease in prepayments, other receivables and other assets 7,900 8,528 Decrease/(increase) in inventories 2,095 (8,174) Increase/(decrease) in trade payables 7,432 (10,596) Increase in other payables and accruals 66,189 94,239 Cash generated from operations 22,587 28,619 Interest received 1,788 1,550 Net cash flows from operating activities 24,375 30,169
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27 INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2026 Six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) CASH FLOWS FROM INVESTING ACTIVITIES Purchases of items of property, plant and equipment and other intangible assets (155) (1,238) Placement of time deposits (234,055) – Purchase of financial assets at fair value through profit or loss (734,000) (1,198,033) Redemption of financial assets at fair value through profit or loss 718,981 1,130,451 Proceeds from disposal of other intangible assets 113 – Net cash flows used in investing activities (249,116) (68,820) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issue of shares 847,516 19,457 Acquisition of non-controlling interests (875) (142) Payment of listing expense (48,506) – Lease payments (1,803) (301) Net cash flows from financing activities 796,332 19,014 NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 571,591 (19,637) Cash and cash equivalents at beginning of period 258,534 230,122 Effect of foreign exchange rate changes, net (9,572) (613) CASH AND CASH EQUIVALENTS AT END OF PERIOD 820,553 209,872
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28 NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION JUNE 30, 2026 1. CORPORATE INFORMATION The Company was established in the People ’s Republic of China (the “PRC”) on 10 June 2009, as a limited liability company under the Companies Law of the PRC. The registered office of the Company is located at No. 10, Xinghuo Road, Hi-Tech Development Zone Nanjing, Jiangsu Province, PRC. The Company was converted into a joint stock limited liability company on 25 June 2025. During the period, the Company and its subsidiaries were principally involved in the research, development and commercialisation of pharmaceutical products. The shares of the Company have been listed on the Main Board of the Stock Exchange of Hong Kong Limited (the “Stock Exchange ”) effective from 13 May 2026. 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. 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 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. The Group will provide additional disclosures for its equity investments designated at fair value through other comprehensive income in the Group ’s consolidated financial statements for the year ending 31 December 2026.
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29 (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. (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 Operating segment information Management has determined the operating segments based on the reports reviewed by the chief operating decision maker. The chief operating decision maker, who is responsible for allocating resources and assessing performance of the operating segment, has been identified as the executive directors of the Company. During the reporting period, the Group was principally engaged in the research, development and commercialisation of pharmaceutical products. Management reviews the operating results of the Group ’s business as one operating segment for the purpose of making decisions about resource allocation and performance assessment. Therefore, the chief operating decision maker of the Company regards that there is only one segment which is used to make strategic decisions. Geographical information (a) Revenue from external customers For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Geographical markets Chinese mainland 70,351 7,232 United States of America 34,839 18,004 Total revenue 105,190 25,236 (b) Non-current assets No geographical information related to non-current assets is presented as nearly all of the non-current assets of the Group are located in the Chinese mainland.
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30 4. REVENUE An analysis of revenue is as follows: For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Revenue from contracts with customers 105,190 25,236 Disaggregated revenue information for revenue from contracts with customers For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Types of goods and services Sales of pharmaceutical products 70,351 7,232 Licensing revenue 34,839 18,004 Total 105,190 25,236 Timing of revenue recognition Transferred at a point in time 105,190 25,236 The following table shows the amounts of revenue recognised in the current reporting period that were included in the contract liabilities at the beginning of the reporting period: For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Sales of pharmaceutical products 831 –
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31 5. LOSS BEFORE TAX The Group ’s loss before tax is arrived at after charging/(crediting): For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Cost of inventories sold 9,714 588 Depreciation of property, plant and equipment (i) 160 234 Depreciation of right-of-use assets (i) 1,534 1,457 Amortisation of other intangible assets (i) 590 546 Gain on disposal of other intangible assets (16) – Foreign exchange differences, net 9,397 704 Government grants (25,672) (286) Interest expense 24,831 34,055 Listing expense 25,850 – Employee benefit expense (excluding directors ’ remuneration) (ii) Wages, salaries and other allowances 31,081 29,989 Pension scheme contributions and social welfare 4,712 4,401 Equity-settled share-based payment expense 7,146 2,096 Total 42,939 36,486 Notes: (i) The depreciation of property, plant and equipment, amortisation of other intangible assets, and depreciation of right-of-use assets are included in “Research and development expenses ” and “Administrative expenses ” in the consolidated statement of profit or loss and other comprehensive income. (ii) The employee benefit expense is included in “Selling and distribution expenses ”, “Research and development expenses ” and “Administrative expenses ” in the consolidated statement of profit or loss and other comprehensive income. 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. Chinese mainland Pursuant to the Corporate Income Tax Law of the PRC and the respective regulations (the “CIT Law ”), the subsidiaries which operate in the Chinese mainland are subject to CIT at a rate of 25% on the taxable income during the period. The Company has been qualified as a high and new technology enterprise and is subject to income tax at a preferential tax rate of 15% from 2025 to 2027. This qualification is subject to review by the relevant tax authority in the PRC every three years.
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32 IMPACT Therapeutics (Shanghai), Inc., a subsidiary of the Group in the Chinese mainland, has been qualified as a high and new technology enterprise and is subject to income tax at a preferential tax rate of 15% from 2024 to 2026. This qualification is subject to review by the relevant tax authority in the PRC every three years. Shanghai Impact Therapeutics Co., Ltd., a subsidiary of the Group in the Chinese mainland, has been qualified as a high and new technology enterprise and is subject to income tax at a preferential tax rate of 15% from 2025 to 2027. This qualification is subject to review by the relevant tax authority in the PRC every three years. Australia The subsidiary incorporated in Australia was subject to Australia company tax at the statutory rate of 25% on the estimated assessable profits arising in Australia during the period. No Australia company tax was provided for as this subsidiary did not have any assessable profits arising in Australia during the period. USA The subsidiary incorporated in Delaware, USA, is subject to statutory United States federal corporate income tax at a rate of 21%. The income tax expense of the Group for the period is analysed as follows: For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Current – Chinese mainland income tax – – Deferred – – Total tax charge for the period – – 7. DIVIDENDS No dividend was paid or declared by the Company during the six months ended 30 June 2026 (30 June 2025: Nil). 8. LOSS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT The calculation of the basic loss per share amount is based on the loss for the period attributable to ordinary equity holders of the parent, and the weighted average number of ordinary shares of 246,015,887 (six months ended 30 June 2025: 222,845,050) outstanding during the period. The calculation of the diluted loss per share amount is based on the loss for the period attributable to ordinary equity holders of the parent. The weighted average number of ordinary shares used in the calculation is the number of ordinary shares outstanding during the period, as used in the basic loss per share calculation, and the weighted average number of ordinary shares assumed to have been issued at no consideration on the deemed conversion of all dilutive potential ordinary shares into ordinary shares.
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33 The calculations of basic and diluted loss per share are based on: For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Loss Loss attributable to ordinary equity holders of the parent (90,810) (128,730) Number of shares For the six months ended 30 June 2026 2025 (Unaudited) (Unaudited) Shares Weighted average number of ordinary shares outstanding during the period used in the basic loss per share calculation 246,015,887 222,845,050 9. PROPERTY, PLANT AND EQUIPMENT During the six months ended 30 June 2026, the Group acquired assets at a cost of RMB155,000 (30 June 2025: RMB32,000). 10. TRADE RECEIVABLES An ageing analysis of the trade receivables as at the end of the reporting period, based on the transaction date and net of loss allowance, is as follows: 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Within 1 month 19,426 6,318 1 to 3 months 18,601 1,125 Total 38,027 7,443 11. TRADE PAYABLES 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 3 months 57,277 49,864 3 months to 1 year 19 – Total 57,296 49,864 The trade payables are non-interest-bearing and are typically settled within 2 to 3 months from the invoice date.
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34 12. SHARE CAPITAL Shares 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Issued and fully paid 282,462 234,188 A summary of movements in the Company ’s share capital is as follows: Share capital Note Number of ordinary shares Share capital RMB’000 At 31 December 2025 (Audited) 234,188,130 234,188 Issue of shares from IPO (a) 48,273,400 48,274 At 30 June 2026 (Unaudited) 282,461,530 282,462 Note: (a) On 13 May 2026, the Company successfully completed the IPO on the Stock Exchange. The Company issued 41,977,000 ordinary shares at the offering price of HKD20.10 per share. On 10 June 2026, the underwriters of the Global Offering fully exercised the Over-Allotment Option, and an aggregate of 6,296,400 shares at an offer price of HKD20.10 per share were newly allotted and issued by the Company. 13. COMMITMENTS At the end of the reporting period, the Group did not have any significant contractual commitments (30 June 2025: Nil). 14. RELATED PARTY TRANSACTIONS (a) Compensation of key management personnel of the Group For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Salaries, allowances and benefits in kind 7,723 5,470 Pension scheme contributions 442 399 Equity-settled share-based payment expense 14,375 39,615 Total 22,540 45,484
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35 15. FAIR VALUE AND FAIR VALUE HIERARCHY OF FINANCIAL INSTRUMENTS Management has assessed that the fair values of cash and bank balances, trade receivables, financial assets included in prepayments, other receivables and other assets, and financial liabilities included in trade payables and other payables and accruals approximate to their carrying amounts largely due to the short-term maturities of these instruments. The Group ’s finance department headed by the finance director is responsible for determining the policies and procedures for the fair value measurement of financial instruments. At the end of the reporting period, the finance department analyses the movements in the values of financial instruments and determines the major inputs applied in the valuation. The directors review the results of the fair value measurement of financial instruments periodically for financial reporting. The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions were used to estimate the fair values: The fair values of the non-current portion of financial assets included in prepayments, other receivables and other assets and the non-current portion of other payables and accruals have been calculated by discounting the expected future cash flows using rates currently available for instruments with similar terms, credit risk and remaining maturities. The Group has estimated the fair value of variable consideration payable arising from the acquisition of equity interests from the non-controlling interests by using a discounted cash flow valuation model based on the market interest rates of instruments with similar terms and risks. Set out below is a summary of significant unobservable inputs to the valuation of financial instruments together with a quantitative sensitivity analysis as at 30 June 2026 and 31 December 2025: Financial liabilities Fair value hierarchy Valuation technique Significant unobservable input Range Sensitivity of fair value to the input Variable consideration Level 3 Discounted Discount rate 10.3%- 12.2% note (a) payable arising from cash flow (31 December the acquisition of 2025: 11.0%- equity interests from the 12.9%) non-controlling interests Note: (a) 1% increase/decrease in discount rate, with all other variables held constant, would decrease/increase the fair value of variable consideration payable arising from the acquisition of equity interests from the non- controlling interests by RMB598,000/RMB608,000 (31 December 2025: RMB728,000/RMB755,000).
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36 Fair value hierarchy The following tables illustrate the fair value measurement hierarchy of the Group ’s financial instruments: Assets measured at fair value: As at 30 June 2026 (Unaudited) Fair value measurement using Quoted prices Significant Significant in active markets observable inputs unobservable inputs (Level 1) (Level 2) (Level 3) Total RMB’000 RMB’000 RMB’000 RMB’000 Investment in wealth management products – 9,887 – 9,887 The Group did not have any financial assets measured at fair value as at 31 December 2025. Liabilities measured at fair value: As at 30 June 2026 (Unaudited) Fair value measurement using Quoted prices Significant Significant in active markets observable inputs unobservable inputs (Level 1) (Level 2) (Level 3) Total RMB’000 RMB’000 RMB’000 RMB’000 Variable consideration payable arising from the acquisition of equity interests from the non-controlling interests – – 39,463 39,463 As at 31 December 2025 (Audited) Fair value measurement using Quoted prices Significant Significant in active markets observable inputs unobservable inputs (Level 1) (Level 2) (Level 3) Total RMB’000 RMB’000 RMB’000 RMB’000 Variable consideration payable arising from the acquisition of equity interests from the non-controlling interests – – 39,130 39,130 During the period, there were no transfers of fair value measurements between Level 1 and Level 2 and no transfers into or out of Level 3 for both financial assets and financial liabilities. 16. EVENTS AFTER THE PERIOD There were no significant events subsequent to 30 June 2026.
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37 PUBLICATION OF THE INTERIM RESULTS ANNOUNCEMENT AND 2026 INTERIM REPORT ON THE WEBSITES OF THE STOCK EXCHANGE AND THE COMPANY This interim results announcement is published on the websites of the Stock Exchange (www.hkexnews.hk) and the Company (www.impacttherapeutics.com). The interim report for the six months ended June 30, 2026 of the Company containing all the information required by the Listing Rules will be dispatched to the Shareholders of the Company (if necessary) and published on the websites of the Stock Exchange and the Company in due course. APPRECIATION On behalf of the Board, I wish to express my sincere gratitude to our Shareholders and business partners for their continued trust and support, and to our employees for their diligence, dedication, loyalty and integrity. DEFINITIONS AND GLOSSARY In this announcement, the following expressions shall have the meanings set out below unless the context requires otherwise: “Audit Committee ” the audit committee of our Board “Board ” the board of Directors of our Company “China” or “PRC” the People ’s Republic of China and, for the purpose of this announcement, excludes Hong Kong, the Macao Special Administrative Region of the PRC and Taiwan, China “Company, ” “our Company ” or “the Company ” IMPACT Therapeutics, Inc (ʮ̡ ), a joint stock limited company established in the PRC on June 25, 2025, or, where the context requires (as the case may be), its predecessor, Nanjing Impact Therapeutics Co., Ltd. (ʮ̡ ), a limited liability company established in the PRC on June 10, 2009, the H Shares of which are listed on the Stock Exchange (stock code: 7630) “Core Product ” senaparib (IMP4297), the designated “core product ” as defined under Chapter 18A of the Listing Rules “Corporate Governance Code ” the Corporate Governance Code set out in Appendix C1 to the Listing Rules “Director(s) ” the director(s) of our Company “FDA” the United States Food and Drug Administration “Global Offering ” the global offering of the H Shares of the Company on the Stock Exchange
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38 “Group, ” “our Group, ” “we” or “us” our Company and our subsidiaries “H Share(s) ” overseas listed foreign share(s) in the share capital of our Company with a nominal value of RMB1.00 each, which is/are subscribed for and traded in Hong Kong dollars and listed on the Stock Exchange “IFRS” International Financial Reporting Standards, which include standards, amendments and interpretations promulgated by the International Accounting Standards Board and the International Accounting Standards and interpretations issued by the International Accounting Standards Committee “Listing Date ” May 13, 2026, being the date on which the H Shares were listed and from which dealings therein were permitted to take place on the Stock Exchange “Listing Rules ” the Rules Governing the Listing of Securities on the Stock Exchange, as amended from time to time “Model Code ” the Model Code for Securities Transactions by Directors of Listed Issuers set out in Appendix C3 to the Listing Rules “Over-allotment Option ” the option granted by our Company to the International Underwriters, exercisable by the Overall Coordinators (on behalf of the International Underwriters) pursuant to the International Underwriting Agreement, to require our Company to allot and issue up to an aggregate of 6,296,400 additional H Shares at the Offer Price, representing approximately 15% of the Offer Shares initially available under the Global Offering, to cover, among other things, over-allocations in the International Offering, if any “Prospectus ” the prospectus of the Company dated May 5, 2026 “R&D” research and development “Reporting Period ” or “period ” the six months ended June 30, 2026 “RMB” Renminbi, the lawful currency of the PRC “Share(s) ” ordinary share(s) in the share capital of our Company with a nominal value of RMB1.00 each “Shareholder(s) ” holder(s) of the Share(s) “Stock Exchange ” The Stock Exchange of Hong Kong Limited “subsidiary(ies) ” has the meaning ascribed to this term under the Listing Rules
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39 “U.S.” or “United States ” the United States of America, its territories, its possessions and all areas subject to its jurisdiction “USD” or “US$” United States dollars, the lawful currency of the United States “%” per cent By order of the Board IMPACT Therapeutics, Inc. Dr. Sui Xiong CAI Executive Director and Chief Executive Officer Hong Kong, August 31 2026 As at the date of this announcement, the Board comprises (i) Dr. Sui Xiong CAI, Dr. Ye Edward TIAN and Ms. Ning MA as executive Directors; (ii) Dr. Cong XU, Dr. Qiang XU and Mr. Tao LIU as non-executive Directors; and (iii) Dr. Edward Ming GUO, Mr. Chi Hung SIU and Dr. Liming SHAO as independent non-executive Directors.