VISEN Pharmaceuticals 維 昇 藥 業 （於開曼群島註冊成立的有限公司） （股份代號：2561） | 本代表委任表格 | | --- | | （附註1） 之股份數目 | 2026年4月22日上午十時正舉行的股東特別大會適用的代表委任表格 本人╱吾等 （附註2） 地址為 為維昇藥業（「本公司」）已發行股本中股份的登記持有人，茲委任大會主席 （附註3） 或 地址為 為本人╱吾等的受委代表，代表本人╱吾等出席本公司謹訂於2026年4月22日（星期三）上午十時正假座中國上海市靜安區南京西路1788號 1788廣場1701室舉行的股東特別大會（「股東特別大會」）（及其任何續會），並依照下列指示代表本人╱吾等投票。 請於適當的方格內填上「✔」號，以表明 閣下的投票意願 （附註4） 。 | | 普通決議案 | 贊成 | 反對 | 棄權 | | --- | --- | --- | --- | --- | | 1. | 特此一般及無條件批准、確認及追認本公司與ELA Ascendis附屬公司於2026年3月 | | | | | | 26日訂立的獨家授權框架協議、經修訂2026年ELA年度上限、ELA未來年度 ...

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倚賴該等內容而引致的任 何損失承擔任何責任。 VISEN Pharmaceuticals 維 昇 藥 業 （於開曼群島註冊成立的有限公司） – 1 – 1. 「動議：特此一般及無條件批准、確認及追認本公司與ELA Ascendis附屬公 司於2026年3月26日訂立的獨家授權框架協議、經修訂2026年ELA年度上 限、ELA未來年度上限及其項下擬進行的交易，並特此授權本公司董事共 同或通過委員會行事或本公司任何董事個別行事，以作出其認為就實施該 等持續關連交易的條款及╱或使其生效屬必要、適宜或權宜的所有其他相 關行動及事宜、簽立其他相關文件及採取所有相關步驟。」 2. 「動議：特此一般及無條件批准、確認及追認VISEN HK與Ascendis Pharma Endocrinology Division於2026年3月26日訂立的第一份商業化供應框架協 議、經修訂2026年CSA年度上限、CSA未來年度上限及其項下擬進行的交 易，並特此授權本公司董事 ...

此乃重要通函謹請 閣下立即處理 閣下如對本通函任何方面或應採取之行動有任何疑問，應諮詢 閣下之股票經紀或其他註冊證券 商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已將名下之維昇藥業股份全部售出或轉讓，應立即將本通函及隨附代表委任表格送交買主或 承讓人或送交經手買賣或轉讓之銀行、股票經紀或其他代理人，以便轉交買主或承讓人。 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，並明確表示概不就因本通函全部或任何部分內容而產生或因依賴該等內容 而引致之任何損失承擔任何責任。 VISEN Pharmaceuticals 維 昇 藥 業 （於開曼群島註冊成立的有限公司） （股份代號：2561） (1)修訂及續訂獨家授權協議項下持續關連交易的現有年度上限； (2)修訂及續訂第一份商業化供應協議項下 持續關連交易的現有年度上限； (3)修訂第二份商業化供應框架協議項下 持續關連交易的現有年度上限； 及 (4)股東特別大會通告 獨立董事會委員會及獨立股東 的獨立財務顧問 本公司謹訂於2026年4月22日上午十時正假座中國上海市靜安區南京西路1788號1788 ...

(2)修訂及續訂第一份商業化供應協議項下 持續關連交易的現有年度上限；及 (3)修訂第二份商業化供應框架協議項下 持續關連交易的現有年度上限 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 該等內容而引致之任何損失承擔任何責任。 VISEN Pharmaceuticals 維昇藥業 （於開曼群島註冊成立的有限公司） （股份代號：2561） (1)修訂及續訂獨家授權協議項下持續關連交易的現有年度上限； 修訂及續訂獨家授權協議項下持續關連交易的現有年度上限 茲提述招股章程，內容有關招股章程「關連交易」一節所披露之獨家授權協議項 下擬進行之持續關連交易。 由於董事會預期現有2026年ELA年度上限不足以滿足截至2026年12月31日止年 度本集團的需求，本公司與ELA Ascendis附屬公司於2026年3月26日訂立獨家 授權框架協議，董事會決議修訂現有2026年ELA年度上限，並將其提高到截至 2026年12月31日止年度的經修訂2026年ELA年度上限，同時設定截至2027年及 2028年1 ...

Financial Performance - The company reported a net loss of RMB 253,422,000 for the year ended December 31, 2025, compared to a net loss of RMB 182,242,000 for the previous year, representing an increase of 39% in losses[5]. - The net loss for the year increased by 39.1% to RMB 253.4 million, compared to RMB 182.2 million for the previous year[63]. - The basic and diluted loss per share for 2025 was RMB (2.44), compared to RMB (1.95) in 2024, reflecting increased losses per share[92]. - The total loss attributable to ordinary equity holders of the parent was RMB 253,422 thousand for 2025, an increase from RMB 182,242 thousand in 2024[109]. - The company reported a total revenue of RMB 165,000, primarily from early sales of palopegteriparatide before official approval[53]. - Gross profit amounted to RMB 19,000, indicating a focus on patient accessibility and clinical needs during the pilot phase[55]. - Total assets increased to RMB 977.3 million from RMB 293.8 million in the previous year, while total liabilities rose to RMB 215.2 million from RMB 52.5 million[51]. - The company reported a pre-tax loss of RMB (253,422,000) for 2025, compared to RMB (182,242,000) in 2024, indicating a significant increase in losses[92]. Research and Development - Research and development costs increased to RMB 93,484,000 in 2025 from RMB 90,521,000 in 2024, reflecting a growth of 3%[5]. - The R&D team consists of 35 full-time employees, with approximately 37% holding PhDs or MDs, and an average of over 16 years of experience in clinical development[41]. - The company has established a scientific advisory board comprising key opinion leaders in endocrinology and pediatrics to support its R&D capabilities[41]. - The company aims to enhance its drug pipeline through milestone-driven early research in collaboration with leading external technology platforms[9]. - The company is focused on expanding its market presence and enhancing its product pipeline through strategic initiatives[119]. Product Development and Commercialization - The company received approval for the commercialization of lonapegsomatropin, its core product, on January 26, 2026, for treating growth hormone deficiency in children aged 3 and above in China[6]. - The company completed the open-label phase of its Phase 3 study for palopegteriparatide in January 2026, with plans to submit a New Drug Application (NDA) in the second half of 2026[10]. - Lonapegsomatropin has completed Phase 3 pivotal trials in China for treating growth hormone deficiency in children aged 3 to 17, demonstrating statistically significant efficacy compared to short-acting growth hormone[15]. - The commercialization strategy for Lonapegsomatropin focuses on high-value specialty products targeting the out-of-pocket market, aiming to position it as a best-in-class long-acting growth hormone therapy[19]. - The company plans to implement a comprehensive commercialization plan for lonapegsomatropin to tap into the significant domestic market potential in China, including Hong Kong, Macau, and Taiwan, ensuring a continuous supply of the drug for local patients[22]. Strategic Partnerships and Collaborations - A strategic cooperation agreement was signed with Dongfulong Technology Group on November 6, 2025, to advance the development and industrial application of dual-chamber lyophilized formulation technology[6]. - The company is expanding its pipeline through strategic collaborations, including a project agreement with Crystal Holdings on February 5, 2026, focusing on endocrine and metabolic therapies[9]. - Strategic partnerships have been established with Anke Bio and Shanghai Pharmaceuticals to enhance market penetration and develop pediatric treatment capabilities[21]. - A strategic collaboration was established with Crystal Clear Holdings to enhance long-term R&D capabilities in endocrine and metabolic therapy areas[39]. - A strategic cooperation agreement was signed with the China Rare Disease Alliance to expand collaboration in pediatric growth and development beyond achondroplasia[40]. Technology and Innovation - The DCD technology has been successfully developed as a drug delivery platform, with patents covering multiple technical dimensions, enhancing intellectual property protection[24]. - The DCD system integrates the drug and diluent in a sealed dual-chamber configuration, simplifying the reconstitution and administration process, thereby improving patient safety and compliance[25]. - The company holds 60 issued patents and 72 pending patent applications in China, including 9 issued patents related to lonapegsomatropin, expiring on September 28, 2037[44][45]. Market Access and Financial Strategy - The company has established a robust market access strategy supported by evidence-based medicine and academic-driven interactions[19]. - The company plans to accelerate the commercialization of core products and clinical development of pipeline candidates as part of its strategic outlook[48]. - The company has completed the technology transfer for core product bulk drug substance, with local process validation expected to be completed by 2027[23]. - The net proceeds from the global offering amounted to approximately HKD 672.3 million (equivalent to RMB 620.2 million) after deducting underwriting commissions and offering expenses[87]. - The company has not conducted any significant acquisitions or disposals of subsidiaries, associates, or joint ventures as of December 31, 2025[77]. Employee and Operational Insights - Total employee costs for the year reached approximately RMB 144.4 million, compared to RMB 98.8 million in the previous year[47]. - The internal commercialization team is highly specialized, with about 20% of frontline members holding master's degrees and nearly one-third recruited from management positions in other pharmaceutical companies[20]. - The company aims to optimize team structure and expand capabilities to support execution efficiency and market expansion as commercialization progresses[20]. Regulatory and Compliance - The company cannot guarantee the successful development or marketing of lonapegsomatropin and palopegteriparatide, advising shareholders and potential investors to act cautiously[30]. - The company is preparing for regulatory submissions, including import BLA and local production BLA for its biopharmaceutical products[116]. - The company is committed to adhering to the Hong Kong Stock Exchange's listing rules and standards[116].

致：香港交易及結算所有限公司 公司名稱: 維昇藥業 (於開曼群島註冊成立的有限公司) 呈交日期: 2026年3月4日 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: 2026年2月28日 狀態: 新提交 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) | 02561 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | USD | 0.0001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | USD | | | | 本月底結存 | | | 500,000,000 | USD | 0.0001 | USD | | 50,000 | 第 1 頁 共 10 頁 v 1.2.0 FF30 ...

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倚 賴該等內容而引致的任何損失承擔任何責任。 VISEN Pharmaceuticals 維昇藥業 （於開曼群島註冊成立的有限公司） （股份代號：2561） 維昇藥業（「本公司」及其附屬公司「本集團」）董事會（「董事會」）茲通告謹定於 2026年3月12日（星期四）舉行董事會會議，藉以（其中包括）考慮及批准本集團截 至2025年12月31日止之年度業績及其刊發，以及處理其他事項。 承董事會命 維昇藥業 執行董事兼首席執行官 盧安邦先生 香港，2026年3月2日 於本公告日期，董事會包括(i)執行董事盧安邦先生；(ii)非執行董事付山先生及曹 弋博先生；以及(iii)獨立非執行董事YAO Zhengbin (Bing)博士、陳炳鈞先生、倪 虹女士及張勍先生。 董事會召開日期 ...

Core Viewpoint - The Hong Kong stock market is facing a significant wave of lock-up share releases in February and March 2026, with many companies experiencing high percentages of shares being unlocked, potentially impacting stock prices and market sentiment [2][4]. Group 1: Companies Facing High Unlock Ratios - Several companies, including Mirxes-B, Nanshan Aluminium International, and Jiangsu Hongxin, have over 50% of their total share capital subject to unlock, indicating substantial potential selling pressure [2][3]. - The first tier of companies with high unlock ratios includes Different Group (84.67%), Nanshan Aluminium International (80.59%), and Jiangsu Hongxin (68.19%) [3]. Group 2: Market Impact and Investor Behavior - The upcoming unlocks may lead to market panic selling, particularly for small-cap stocks and loss-making companies, as investors may preemptively sell to mitigate risk [9]. - Companies with lock-up commitments, such as Mirxes-B, may experience reduced selling pressure due to commitments from founders and cornerstone investors to hold their shares for an extended period [5][9]. Group 3: Long-term Implications of Unlocks - The unlocking of shares may lead to a more diversified shareholder structure, reducing the risk of concentrated ownership and enhancing corporate governance transparency [10]. - Ultimately, the long-term impact on stock prices will depend on the companies' fundamentals, growth prospects, and industry conditions, rather than solely on the unlock events [10][11].

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: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 | 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) | 02561 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | USD | | 0.0001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 500,000,000 | USD | | 0.0001 | USD | | 50,000 | 本月底法定/註冊股本總額： USD 50,000 FF301 第 1 頁 共 10 頁 v 1.2.0 FF301 II. 已發 ...

Core Viewpoint - The approval of Weisheng Pharmaceutical's core product, Longpei Growth Hormone Injection, marks the company's first commercialized innovative product, but it faces significant competition in the long-acting growth hormone market [3][4]. Market Overview - The Chinese growth hormone market has seen explosive growth, increasing from 4 billion yuan in 2018 to 11.6 billion yuan in 2023, with a compound annual growth rate (CAGR) of 23.9%, and is expected to reach 28.6 billion yuan by 2030 [3]. - The market is characterized by a shift in dosage forms, with long-acting growth hormones gaining traction due to better patient compliance compared to short-acting formulations [3][4]. Competitive Landscape - The competition in the long-acting growth hormone market is intensifying, with existing players including Changchun High-tech, Teva Biopharma, and Novo Nordisk, all of which have products already included in the national medical insurance directory [4][5]. - The entry of long-acting growth hormones into the insurance directory has led to significant price reductions, with some products seeing price drops of over 50%, thereby reducing the financial burden on patients and expanding market share [5]. Company Strategy - As a new entrant, Weisheng Pharmaceutical aims to differentiate itself by emphasizing that Longpei Growth Hormone is the only long-acting growth hormone proven to be superior to daily injections in Phase III studies, providing clear prescription guidance for doctors [6]. - The company recognizes that most growth hormone users are still self-paying, and it plans to collaborate with high-end private clinics to better reach target customers [6]. - The current penetration rate of growth hormones among children in China remains low, indicating a need for increased product awareness and education among potential users [6].