非執行董事辭任 華領醫藥（「本公司」）董事會（「董事會」）宣佈，Fangxin LI博士（「LI博士」）因私 人工作安排，已辭任非執行董事及董事會轄下之薪酬委員會成員，自2025年6月 25日起生效。 LI博士確認，彼與董事會並無任何意見分歧，且概無有關其辭任之事宜須敦請香 港聯合交易所有限公司及本公司股東垂注。 香港交易及結算所有限公司及香港聯合交易所有限公司對本文件的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本文件全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 HUA MEDICINE 華領醫藥 （於開曼群島註冊成立的有限公司） （股份代號：2552） 董事會謹此衷心感謝LI博士於任內為本公司作出的寶貴努力及貢獻。 承董事會命 行政總裁兼執行董事 陳力博士 香港，2025年6月25日 於本公告日期，董事會成員包括執行董事陳力博士、林潔誠先生及張怡博士；非 執行董事Robert Taylor Nelsen先生；以及獨立非執行董事William Robert Keller先 生、徐耀華先生及張耀樑先生。 ...

HUA MEDICINE 華領醫藥 (Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） (Stock code 股份代號： 2552) NOTIFICATION LETTER 通知信函 24 April 2025 Dear Non-registered Holder(s)(Note 1), Hua Medicine (the "Company") – Notice of publication of Annual Report 2024, Circular in relation to proposals for re-election of retiring directors, general mandates to repurchase and issue shares, re- appointment of auditor, and notice of annual general meeting and Proxy Form (the "Current Corporate Communication") The Engli ...

HUA MEDICINE 華領醫藥 (Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） (Stock code 股份代號： 2552) NOTIFICATION LETTER 通知信函 24 April 2025 Dear Registered Shareholders, Hua Medicine (the "Company") The English and Chinese versions of the Company's Current Corporate Communications are now available on the Company's website at www.huamedicine.com and the website of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") at www.hkexnews.hk respectively (the "Website Version"). The Company strongl ...

此乃要件 請即處理 HUA MEDICINE 華領醫藥 （於開曼群島註冊成立的有限公司） （股份代號：2552） (I)建議重選退任董事； (II)建議授出回購股份及發行股份之一般授權； (III)建議續聘核數師； 閣下對本通函任何方面或應採取之行動如有任何疑問，應諮詢 閣下之股票經紀或其他註冊證券機構、銀 行經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓名下所有華領醫藥之股份，應立即將本通函連同隨附之代表委任表格送交買主或承讓 人或經手買賣或轉讓之銀行、股票經紀或其他代理商，以便轉交予買主或承讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函之內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示概不會就因本通函全部或任何部分內容而產生或因倚賴該等內容而引致之任 何損失承擔任何責任。 及 (IV)股東週年大會通告 本公司謹訂於2025年6月26日（星期四）上午十時三十分假座本公司上海總部（中國上海市浦東新區學林路 36弄2號樓）舉行股東週年大會，召開大會之通告載於本通函。 無論 閣下能否出席股東週年大會，務請按照隨附股東週年大會適用之代表委任表格上印備之指示填妥及 簽署表格 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本通告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示概不就因本通告全部或任何部分內容而產生或因依賴該等內容而引致的任何 損失承擔任何責任。 HUA MEDICINE 華領醫藥 （於開曼群島註冊成立的有限公司） （股份代號：2552） 股東週年大會通告 茲通告華領醫藥（「本公司」）謹訂於2025年6月26日（星期四）上午十時三十分於 華領醫藥總部（中國上海市浦東新區學林路36弄2號樓）舉行股東週年大會，藉以處理 下列事項： 普通決議案 「動議： (a) 在下文(b)段規限下，一般及無條件授予本公司董事一般授權，於有 關期間（定義見下文）內，根據所有適用法例、規則及規例行使本公 司全部權力以回購其股份； – 1 – 1. 省覽本公司截至2024年12月31日止年度經審核綜合財務報表及董事會報告 與核數師報告。 2(a). 重選林潔誠先生為本公司執行董事。 2(b). 重選徐耀華先生為本公司獨立非執行董事。 2(c). 重選張耀樑先生為本公司獨立非執行董事。 2(d). 授權本公司董事會釐定各董事的酬金。 3. 續聘德勤•關黃陳方會計師行為本公司核 ...

(於開曼群島註冊成立的股份有限公司 ) 股份代號 :2552 環境、社會及管治報告 2024 目錄 2 關於本報告 | | | 5 總裁寄語 5 總裁寄語 7 走進華領 | 7 | 公司發展歷程 | | --- | --- | | 8 | 使命與願景 | | 9 | 榮譽與認可 | | 11 | 年度大事記 | 13 17 合規運營，穩步發展 17 合規經營 19 內控內審 19 合規培訓 20 商業道德 23 信息安全 26 供應鏈管理 32 創新前行，行業共進 47 踐行低碳，綠色發展 47 應對氣候變化 49 環境管理體系 50 污染防治 54 資源利用 56 包裝材料管理 57 推行節能降耗 58 推行綠色辦公 58 綠色生產及運輸 59 聚焦人才，協心同力 59 多元人才育成 62 薪酬福利 65 績效晉升 66 員工溝通 67 職業健康 69 | 社區共建，普惠醫療 | | --- | | 69 普惠醫療 | | 72 回饋社會 | 74 附錄 74 報告期內適用的ESG報告守則的內容索引 80 績效表 2 編製範圍 2 編製原則 2 獲取方式 3 與持份者的溝通 4 重要性議題 可持續公司治理 ...

Financial Performance - In the fiscal year 2024, the sales revenue increased by 234% to RMB 255.9 million, attributed to the inclusion of Huadongning® in the National Medical Insurance Drug List[8]. - The total revenue for the fiscal year 2024 was approximately RMB 255.9 million, reflecting sales of about 2,105,000 boxes of Huadongning®, with sales revenue and volume increasing by approximately 234% and 740% respectively compared to the previous year[10]. - Other income for the fiscal year 2024 totaled approximately RMB 116.8 million, a decrease of about RMB 13.8 million or 11% from the previous year, primarily due to milestone income from Bayer[10]. - The pre-tax loss for the fiscal year 2024 increased by approximately RMB 38.9 million or 18% to about RMB 250.1 million, mainly due to increased sales and R&D expenses[10]. - Gross profit for the fiscal year ending December 31, 2024, was approximately RMB 124.7 million, with a gross margin of 48.7%, slightly down from 48.8% in the previous year, primarily due to a decrease in sales price from RMB 341.95 to RMB 124.88 per box after inclusion in the national medical insurance catalog[35]. - The company recorded a net cash outflow from operating activities of RMB 418.0 million for the fiscal year ending December 31, 2024, with cash and cash equivalents amounting to RMB 1,139.8 million as of the same date[46]. - For the year ended December 31, 2024, the net cash used in operating activities was RMB 418.0 million, a significant decrease from RMB 889.4 million for the year ended December 31, 2023, primarily due to a pre-tax loss of RMB 250.1 million[48]. - The net cash generated from investing activities for the year ended December 31, 2024, was RMB 10.0 million, compared to RMB 8.1 million for the year ended December 31, 2023, mainly from interest on short-term bank deposits[50]. - The net cash generated from financing activities for the year ended December 31, 2024, was RMB 83.7 million, an increase from RMB 69.1 million for the year ended December 31, 2023, primarily from short-term and long-term bank loans[51]. - The company’s total reserves available for distribution as of December 31, 2024, amounted to RMB 1,747.54 million[110]. Research and Development - R&D expenses for the fiscal year 2024 amounted to approximately RMB 215.1 million, an increase of about RMB 43.6 million or 25% compared to the previous year[10]. - The company is advancing the development of the second-generation glucose kinase activator (GKA) HM-002-1005 for Type 2 diabetes and obesity, with successful results from the single-dose escalation study in the U.S.[13]. - The company is conducting clinical research on dorzagliatin for prediabetes and early-stage Type 2 diabetes, testing new dosages to explore its potential for these indications[14]. - The company is focused on the development of dorzagliatin, with a strong emphasis on R&D led by experienced professionals in the biopharmaceutical industry[68]. - Dorzagliatin is a novel glucose kinase activator (GKA) aimed at restoring blood glucose homeostasis in type 2 diabetes patients[97]. - The company has been granted global rights by Roche to develop dorzagliatin[97]. Market Expansion and Commercialization - The company plans to expand its glucose kinase-targeted therapies into international markets, particularly the U.S., with significant progress in the development of the second-generation glucose kinase activator (HM-002-1005)[8]. - The company is preparing to submit registration applications for dorzagliatin in Macau and Hong Kong markets in 2025[10]. - Following the termination of the exclusive promotion service agreement with Bayer, the company sold approximately 592,000 boxes of Huadongning® in the first two months of 2025, generating net sales of approximately RMB 73.2 million, reflecting a 199% increase compared to the same period in 2024[31]. - The company aims to strengthen its commercialization capabilities through a hub-and-spoke development model, focusing on building internal sales and medical marketing organizations[16]. - The company is investing to expand production capacity to meet anticipated market demand in 2026 and 2027[10]. - The company is actively pursuing new technologies and product development in the biopharmaceutical sector, particularly in innovative drug development[72]. Corporate Governance and Management - The board of directors consists of three executive directors, two non-executive directors, and three independent non-executive directors[194]. - The company has established an independent board evaluation mechanism this year to ensure strong independence and effective judgment[200]. - The evaluation aims to enhance board efficiency and identify areas for improvement and development[200]. - The company has a strong management team with extensive experience in finance, quality assurance, and drug development[91][92][94]. - The company has adopted a competitive compensation policy for employees, including stock options and bonuses, based on industry standards and employee performance[183]. Risks and Financial Position - The company faces various market risks, including currency risk, interest rate risk, credit risk, and liquidity risk, and currently does not have any hedging policies in place[54][58]. - The leverage ratio was reported as meaningless for the year ended December 31, 2024, compared to 165.8% for the year ended December 31, 2023, reflecting changes in financing strategy[60][61]. - The current ratio decreased to 4.0 as of December 31, 2024, from 6.2 as of December 31, 2023, while the quick ratio decreased to 3.7 from 6.1 during the same period, primarily due to increased short-term and long-term loans[60][61]. - The company has bank deposits of RMB 8.9 million pledged to banks, with RMB 1,565,000 at a fixed interest rate of 2.75% pledged for factory construction completion guarantees[63]. - The company has no significant contingent liabilities as of December 31, 2024[66]. Employee and Compensation - The company employed a total of 168 employees as of December 31, 2024, down from 177 employees as of December 31, 2023[183]. - Employee costs for the year ending December 31, 2024, were approximately RMB 154.2 million, compared to RMB 163.3 million for the year ending December 31, 2023, reflecting a decrease of about 5.5%[183]. - The company regularly reviews compensation and benefits to retain key management personnel and attract qualified staff[175]. - The company is committed to providing ongoing training and development programs for employees to enhance their skills and knowledge[183]. Shareholder Information - Major shareholders include ARCH Venture Fund VII, L.P. with 11.85% and Venrock Associates V, L.P. with 9.80%[130]. - The company has no equity-linked agreements other than the pre-IPO and post-IPO share option plans[125]. - The company has not granted any shares or options under the pre-IPO share incentive plan or post-IPO option plan during the reporting period, resulting in 0 shares issued[139]. - The total unexercised stock options as of December 31, 2024, amount to 61,784,143 shares, with an average closing price of HKD 1.51[151].

Financial Data and Key Metrics Changes - The company is transitioning from an innovation drug discovery company to a commercialization-driven company, with significant growth in sales and profitability expected [4][20] - The net sales increased close to 200% compared to the same period in 2024, despite a price reduction due to the NRDL [7][23] - The gross profit margin is targeted to reach 80% over the next few years as the company optimizes its manufacturing processes [50] Business Line Data and Key Metrics Changes - The sales of dorzaglietin have shown a significant increase, with 2,700 hospitals prescribing the drug by the end of 2024, accounting for 81% of total sales in China [9][21] - The company plans to expand its sales force to cover the top 500 hospitals, aiming for RMB 1 billion in sales by 2027 [40][42] Market Data and Key Metrics Changes - The oral anti-diabetic market in China is valued at approximately RMB 30 billion, with dorzaglietin expected to remain a major market force for the next ten years [41] - The company is exploring opportunities in Southeast Asia, where diabetes prevalence is projected to increase significantly [12][13] Company Strategy and Development Direction - The company aims to enhance its commercialization capabilities and establish a strong presence in the market by focusing on key hospitals and leveraging its existing R&D team [40][41] - Future strategies include developing a second-generation glucokinase activator and exploring partnerships for broader market access [14][62] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the drug's effectiveness and safety, highlighting its acceptance in the medical community and among patients [9][21] - The company anticipates a decline in net loss and an increase in profitability as it gains control over its sales and marketing efforts [20][24] Other Important Information - The company has established a strong patent portfolio with 200 approved patents worldwide, enhancing its attractiveness as an investment target [18][19] - The transition from Bayer to in-house sales and marketing is expected to improve control over sales and profitability [20][25] Q&A Session Summary Question: How does the company view the competition from GLP-1 drugs? - Management believes dorzaglietin complements GLP-1 therapies by improving insulin secretion and glucose sensitivity, addressing the underlying causes of diabetes [34][35] Question: What is the market potential for dorzaglietin amid competition? - The company sees immense opportunities in the oral anti-diabetic market in China, with plans to establish a strong internal infrastructure for sales and marketing [40][41] Question: What are the plans for the second-generation drug? - The company aims to find partners for the second-generation glucokinase activator, focusing on both monotherapy and combination therapy strategies [62][63]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 本公告乃根據香港聯合交易所有限公司證券上市規則（「上市規則」）第17.06A條而 作出。 華領醫藥（「本公司」）董事（「董事」）會（「董事會」）宣佈，於2025年3月28日，本 公司根據於2018年8月26日有條件批准及採納，並於2018年9月14日起生效的本 公司購股權計劃（「購股權計劃」），向本公司三名執行董事、117名僱員及一名服 務提供商（定義見上市規則）（統稱「承授人」）授出購股權（「購股權」），惟須待承 授人接納後方可作實。購股權賦予承授人權利可認購本公司股本中合共9,700,000 股每股面值0.001美元的新股份（「股份」）。 所授出購股權的詳情如下： 授出日期： 2025年3月28日 所授出購股權的行使價： 每股股份2.48港元，即以下各項中的較高者： iii. 面值每股股份0.001美元。 HUA MEDICINE 華領醫藥 （於開曼群島註冊成立的有限公司） （股份代號：2552） 授 ...

Core Insights - The core product Huadongning® (Dapagliflozin) experienced a significant sales increase of 740% year-on-year, generating sales revenue of 255.9 million RMB, a 234% increase compared to the previous year, marking a milestone for the company in the commercialization process [1][2] Sales and Market Penetration - The inclusion of Huadongning® in the national medical insurance directory has led to a transformation from market access to terminal volume, with sales reaching 2.105 million boxes and coverage expanding to approximately 2,700 hospitals [2][3] - The company has begun building a specialized sales team, with plans to have 100 employees by April 1, 2024, enhancing its market reach and channel management capabilities [3] Financial Performance and Profitability - The company is expected to recognize approximately 1.2435 billion RMB in unamortized contract liabilities as revenue in 2025, indicating a high likelihood of profitability in that year [4] - The CEO anticipates a continuous increase in gross margin from 2025 to 2028, projecting a gross margin of 70% to 80% due to the innovative nature of the product and cost-reduction strategies [4] R&D Pipeline and Competitive Advantage - The company is transitioning from a single product focus to a platform technology approach, enhancing the lifecycle value of its products through a diversified R&D pipeline [5][6] - Significant breakthroughs in the second-generation GKA clinical trials have been achieved, with plans to explore new clinical indications and potential collaborations for combination therapies [5][6] International Expansion and Future Outlook - The company is accelerating its internationalization efforts, with plans to develop the second-generation GKA in obesity-prone regions and submit applications for market entry in Hong Kong and Macau by 2025 [6] - The successful commercialization of Huadongning® post-medical insurance inclusion is seen as a new starting point for the company, with multiple factors expected to catalyze long-term value release [6]