康哲藥業控股有限公司* China Medical System Holdings Limited 2 September 2025 Dear non-registered shareholder(s), Reminder letter regarding the Arrangement of Electronic Dissemination of Corporate Communications China Medical System Holdings Limited (the "Company") is writing to remind you that the Company has adopted electronic dissemination of corporate communications (the "Corporate Communication"), which mean any documents issued or to be issued by the Company for the information or action of holders of any of its ...

Reminder letter regarding the Arrangement of Electronic Dissemination of Corporate Communications China Medical System Holdings Limited 康哲藥業控股有限公司* (Incorporated in the Cayman Islands with Limited Liability) （於開曼群島註冊成立的有限公司） (Hong Kong Stock Code/香港股份代號: 867) （Singapore Stock Code/新加坡股份代號：8A8） Dear registered shareholder(s), 2 September 2025 China Medical System Holdings Limited (the "Company") is writing to remind you that the Company has adopted electronic dissemination of corporate communications (the "C ...

| 公司資料 | 1 | | --- | --- | | 財務摘要 | 2 | | 業務摘要 | 3 | | 管理層討論與分析 | 5 | | 其他資料 | 29 | | 簡明合併損益及其他全面收益表 | 33 | | 簡明合併財務狀況表 | 34 | | 簡明合併權益變動表 | 36 | | 簡明合併現金流量表 | 37 | | 簡明合併財務報表附注 | 38 | 公司資料 董事會 執行董事 林剛先生 陳燕玲女士 非執行董事 陳洪兵先生 （於二零二五年八月十八日辭任） 獨立非執行董事 梁創順先生 羅瑩女士 馮征先生 馮征先生（主席） 梁創順先生 羅瑩女士 薪酬委員會成員 梁創順先生（主席） 羅瑩女士 馮征先生 提名委員會成員 羅瑩女士（主席） 林剛先生 梁創順先生 馮征先生 環境、社會及管治委員會成員 陳燕玲女士（主席） 梁創順先生 馮征先生 公司秘書 吳三燕女士 授權代表 吳三燕女士 林剛先生 審核委員會成員 核數師 德勤 • 關黃陳方會計師行 註冊公眾利益實體核數師 主要往來銀行 招商銀行股份有限公司 香港上海匯豐銀行有限公司 渣打銀行（香港）有限公司 星展銀行（香港）有限公司 註冊辦事處 Maples ...

致：香港交易及結算所有限公司 FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 公司名稱: China Medical System Holdings Limited 康哲藥業控股有限公司*（*僅供識別） 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00867 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | USD | | 0.005 USD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | USD | | | | 本月底結存 | | | 20,000,000,000 | USD | ...

消息面上，康哲药业发布公告，旗下德镁医药有限公司(德镁医药，专业聚焦皮肤健康的创新型医药企 业，正申请于香港联合交易所有限公司主板独立上市)连同其附属公司于2025年8月27日获中国国家药品 监督管理局(NMPA)签发的药物临床试验批准通知书，于8月28日收到药物临床试验批准通知书。NMPA 同意开展povorcitinib(拟定中文通用名：磷酸泊沃昔替尼片)用于非节段型白癜风和中重度化脓性汗腺炎 (HS)的临床试验。 Povorcitinib是一种选择性口服小分子JAK1抑制剂，在区域内特定国家/地区拥有物质和用途专利。 Povorcitinib目前正在海外若干国家进行非节段型白癜风、HS和结节性痒疹的3期临床试验，另外，治疗 哮喘和慢性自发性荨麻疹的2期临床试验也在进行中。 智通财经APP获悉，康哲药业(00867)午前涨超4%，截至发稿，涨3.9%，报13.59港元，成交额6639.95万 港元。 （原标题：港股异动 | 康哲药业(00867)午前涨超4% 创新药口服小分子JAK1抑制剂Povorcitinib获批准开 展临床试验） ...

消息面上，康哲药业发布公告，旗下德镁医药有限公司(德镁医药，专业聚焦皮肤健康的创新型医药企 业，正申请于香港联合交易所有限公司主板独立上市)连同其附属公司于2025年8月27日获中国国家药品 监督管理局(NMPA)签发的药物临床试验批准通知书，于8月28日收到药物临床试验批准通知书。NMPA 同意开展povorcitinib(拟定中文通用名：磷酸泊沃昔替尼片)用于非节段型白癜风和中重度化脓性汗腺炎 (HS)的临床试验。 康哲药业(00867)午前涨超4%，截至发稿，涨3.9%，报13.59港元，成交额6639.95万港元。 Povorcitinib是一种选择性口服小分子JAK1抑制剂，在区域内特定国家/地区拥有物质和用途专利。 Povorcitinib目前正在海外若干国家进行非节段型白癜风、HS和结节性痒疹的3期临床试验，另外，治疗 哮喘和慢性自发性荨麻疹的2期临床试验也在进行中。 ...

Core Viewpoint - Hunan Maijibio Technology Co., Ltd. has submitted an application for a main board listing on the Hong Kong Stock Exchange, focusing on innovative biopharmaceuticals for allergic and autoimmune diseases, but faces significant challenges including zero commercialization of products, ongoing substantial losses, high debt ratios, patent disputes, and intense competition in its sector [1][2][4]. Company Overview - Established in 2016, Maijibio specializes in developing innovative therapies for allergic and autoimmune diseases through bioreagent technology, with a pipeline of 8 candidate products, including MG-K10, which is in phase III clinical trials [2][3]. - The company reported negligible revenues of 8.72 million yuan, 24,000 yuan, and 0 yuan for 2023, 2024, and Q1 2025 respectively, all from early-stage R&D service collaborations, with no products approved for market sale [2][3]. Financial Performance - Maijibio has incurred net losses of 253 million yuan, 178 million yuan, and 27.27 million yuan for the years 2023, 2024, and Q1 2025, respectively, with cumulative losses exceeding 800 million yuan by March 2025 [2][3]. - The company's debt ratio has been over 100% for an extended period, peaking at nearly 700% at the end of 2023, and still standing at 166.83% by March 2025, indicating severe financial distress [2][3]. R&D and Market Potential - The R&D expenditures for 2023 and 2024 are projected to be 166 million yuan and 150 million yuan, respectively, with the company relying heavily on external financing due to a lack of self-sustaining revenue [3]. - The IL-4Rα targeted therapy market is projected to reach 4.08 billion USD in China by 2030, attracting numerous competitors, including domestic players who have already launched products [6][7]. Competitive Landscape - Maijibio's MG-K10 is a latecomer in a crowded market, facing competition from over 10 companies, including those with products already in late-stage clinical trials [7]. - The company has partnered with Kangzhe Pharmaceutical for the joint development and exclusive commercialization of MG-K10, which provides financial support but also raises concerns about potential internal competition due to overlapping product lines [7][8]. Legal and Governance Issues - The core product MG-K10 has been embroiled in a patent ownership dispute, which raises questions about the originality and independence of its technology [4]. - The founder's salary has seen a dramatic increase from 5.469 million yuan in 2023 to 18.08 million yuan in 2024, contrasting sharply with the company's financial struggles [5]. Investment and Financing - Maijibio has completed seven rounds of financing, raising approximately 730 million yuan, with significant investments from notable institutions [8]. - The company has entered into strict agreements with investors, allowing them to demand share buybacks if the company fails to go public by the end of 2025, with potential repercussions extending to 2027 [9].

Major Events - Sihuan Pharmaceutical Holdings Group Ltd. successfully administered the first human dose of the new radiopharmaceutical conjugate drug 3D1015 [1] - Shenzhen International's joint venture Shenzhen Airlines plans to raise a total of 16 billion yuan in a phased capital increase [1] - Kangzheng Pharmaceutical received clinical trial approval for its innovative oral small molecule JAK1 inhibitor Povorcitinib for indications of vitiligo and suppurative hidradenitis [1] - Ruihe Digital signed a framework agreement with Tielin Superlight Technology to jointly advance the business of real-world asset tokenization [1] - Zhongxu Future will operate and launch a new mobile game "Miracle MU" titled "New Moon Continent" [1] Financial Performance - Noah Holdings reported a net profit attributable to shareholders of 179 million yuan for Q2, a year-on-year increase of 79% driven by strong growth in investment product distribution [1] - Trip.com Group reported a net profit of 4.846 billion yuan for Q2, an increase of 26.43% year-on-year [1] - Shijiazhuang Pharmaceutical Group announced a mid-year profit attributable to equity holders of approximately 283.5 million HKD, a year-on-year decrease of about 58.7% [1] - Zhongsheng Holdings reported a mid-year profit attributable to shareholders of 1.011 billion yuan, a decrease of 36% year-on-year [1] - SF Express City reported an adjusted net profit of approximately 160 million yuan, a year-on-year increase of 139% [1] - Baidu's subsidiary reported a mid-year profit attributable to shareholders of 47.999 million yuan, returning to profitability [1] - Li Auto reported a net profit of 1.093 billion yuan for Q2, a decrease of 0.91% year-on-year [1] - Shanghai Industrial Holdings reported a mid-year profit attributable to shareholders of 1.042 billion HKD, with an interim dividend of 0.42 HKD per share [1] - Beijing Holdings reported a mid-year profit attributable to shareholders of 3.404 billion yuan, an increase of 8.07% year-on-year [1] - Qingdao Port reported a net profit of 2.842 billion yuan, a year-on-year increase of 7.58% [1] - New China Life Insurance reported a net profit of 14.799 billion yuan, a year-on-year increase of 33.5% [1] - China Galaxy Securities reported a net profit of 6.488 billion yuan, a year-on-year increase of 47.86% [1] - China Taiping reported a 12.2% increase in shareholder profit, with a nearly 23% high growth in life insurance new business value [1] - China Resources Gas reported a mid-year profit attributable to shareholders of 2.403 billion HKD, a year-on-year decrease of 30.5% [1] - SF Holding reported a net profit of 5.738 billion yuan, a year-on-year increase of 19.37%, with volume growth exceeding the overall express delivery industry [1] - SMIC reported a net profit of approximately 320 million USD, a year-on-year increase of 35.6% [1] - SenseTime reported a revenue growth of 35.6% year-on-year, reaching 2.358 billion yuan [1] - BeiGene reported a net profit of 95.59 million USD, returning to profitability [1] - Fubo Group reported a mid-year net profit exceeding 100 million, driven by AI [1] - CITIC Securities reported a net profit of 13.719 billion yuan, a year-on-year increase of 29.79% [1] - Huadian International Power reported a net profit of 3.904 billion yuan, a year-on-year increase of 13.15% [1] Additional Financial Performance - Zhou Hei Ya reported a mid-year profit attributable to shareholders of 108 million yuan, a year-on-year increase of 228% [2] - Haitian Flavoring reported a net profit of 3.91 billion yuan, a year-on-year increase of 13.3% [2] - Dasheng Holdings reported a mid-year adjusted net profit growth of 79.6% driven by store expansion and membership growth [2] - CITIC Securities reported a net profit of 4.509 billion yuan, a year-on-year increase of 57.77% [2] - Huitongda reported a mid-year profit attributable to shareholders of 13.9 million yuan, a year-on-year increase of 10.81% [2] - Yunfeng Financial reported a mid-year profit attributable to shareholders of 486 million HKD, a year-on-year increase of 142.04% [2] - Jiufang Zhitu reported a mid-year profit attributable to shareholders of 865 million yuan, returning to profitability [2] - Air China reported a net loss of approximately 1.806 billion yuan, a year-on-year narrowing of 35.11% [2] - ZTE reported a net profit of approximately 5.058 billion yuan, a year-on-year decrease of 11.77% [2] - China Merchants Securities reported a net profit of 5.186 billion yuan, a year-on-year increase of 9.23% [2] - Datang Power reported a net profit of approximately 4.874 billion yuan, a year-on-year increase of 50.3% [2] - China Pacific Insurance reported a net profit of 27.885 billion yuan, a year-on-year increase of 11% [2] - Beijing Capital International Airport reported a post-tax loss of 164 million yuan, a year-on-year narrowing of 56.48% [2] - Dongguan Rural Commercial Bank reported a mid-year net profit of 2.629 billion yuan [2] - Shenzhen Holdings reported a mid-year loss attributable to shareholders of 2.618 billion HKD, a year-on-year increase of 137.76% [2] - China Southern Airlines reported a net loss of 1.534 billion yuan, a year-on-year increase of 45.54% [2] - COSCO Shipping Holdings reported a profit attributable to shareholders of 17.528 billion yuan, a year-on-year increase of 3.9% [2] - Guofu Hydrogen Energy reported revenue of 10.9 million yuan, actively expanding overseas cooperation and business layout [2] - Kangsheng Global reported a mid-year gross profit of 197 million yuan, with stable progress across all businesses [2] - Dongfang Electric reported a net profit of 1.91 billion yuan, a year-on-year increase of 12.91%, maintaining the industry's leading market share in nuclear and gas power [2] - Eagle Eye Technology reported a profit of 443,000 yuan, returning to profitability [2] - Haier Smart Home reported a profit attributable to shareholders of 12.033 billion yuan, a year-on-year increase of 15.6% [2] - EDA Group Holdings reached a partnership agreement with UTCPAY to collaborate in digital asset trading, Web3 technology, and blockchain applications [2] - Gilead Sciences reported that ASC30 oral tablets showed good and differentiated pharmacokinetic characteristics in the U.S. Phase Ib multi-dose escalation study [2]

康哲药业(00867)发布公告，旗下德镁医药有限公司(德镁医药，专业聚焦皮肤健康的创新型医药企业， 正申请于香港联合交易所有限公司主板独立上市)连同其附属公司于2025年8月27日获中国国家药品监督 管理局(NMPA)签发的药物临床试验批准通知书，于8月28日收到药物临床试验批准通知书。NMPA同意 开展povorcitinib(拟定中文通用名：磷酸泊沃昔替尼片)用于非节段型白癜风和中重度化脓性汗腺炎(HS) 的临床试验。 Povorcitinib是一种选择性口服小分子JAK1抑制剂，在区域内特定国家/地区拥有物质和用途专利。 Povorcitinib目前正在海外若干国家进行非节段型白癜风、HS和结节性痒疹的3期临床试验，另外，治疗 哮喘和慢性自发性荨麻疹的2期临床试验也在进行中。 ...

Povorcitinib 是一种选择性口服小分子 JAK1 抑制剂，在区域内特定国家/地区拥有物质和用途专利。 Povorcitinib 目前正在海外若干国家进行非节段型白癜风、HS 和结节性痒疹的3期临床试验，另外，治 疗哮喘和慢性自发性荨麻疹的2期临床试验也在进行中。 智通财经APP讯，康哲药业(00867)发布公告，旗下德镁医药有限公司(德镁医药，专业聚焦皮肤健康的 创新型医药企业，正申请于香港联合交易所有限公司主板独立上市)连同其附属公司于2025年8月27日获 中国国家药品监督管理局(NMPA)签发的药物临床试验批准通知书，于8月28日收到药物临床试验批准通 知书。NMPA同意开展povorcitinib(拟定中文通用名：磷酸泊沃昔替尼片)用于非节段型白癜风和中重度 化脓性汗腺炎(HS)的临床试验。 ...