Group 1 - The company reported a total operating revenue of 122,364.01 million RMB for 2025, a decrease of 4.59% year-on-year [4] - The net profit attributable to the parent company was 5,605.64 million RMB, down 70.37% compared to the previous year [4] - The net profit attributable to the parent company after deducting non-recurring gains and losses was 2,401.77 million RMB, a decrease of 86.69% year-on-year [4] Group 2 - As of the end of 2025, the company's total assets amounted to 579,344.05 million RMB, an increase of 12.43% from the beginning of the year [4] - The equity attributable to the parent company was 248,967.35 million RMB, reflecting a growth of 4.46% compared to the beginning of the year [4] Group 3 - The significant declines in operating profit, total profit, net profit attributable to the parent company, and basic earnings per share were primarily due to changes in flu trends, competitive landscape, and fluctuations in customer demand [5] - Increased depreciation from completed construction projects and higher R&D expenses due to intensified investment in innovative drugs also contributed to the financial performance decline [5]

Core Viewpoint - The company, Bory Pharmaceutical (Suzhou) Co., Ltd., has announced that its subsidiary, Bory Pharmaceutical, is expected to be selected for the national drug procurement program, which could significantly impact its sales and market presence [1][2]. Group 1: Product Selection Details - The company participated in the national drug procurement program for products whose agreements have expired, with the selection results published on February 10, 2026 [1]. - Four products from the company are expected to be selected, which accounted for a total sales revenue of 88.8475 million yuan in the first three quarters of 2025, representing 10.16% of the company's total revenue during that period [2]. Group 2: Impact of Selection - The procurement cycle for the selected products will last until December 31, 2028, with medical institutions prioritizing the use of these selected drugs, which is expected to enhance sales volume and market share [2]. - If contracts are signed and implemented, it will further boost the company's brand image and sales performance [2].

Core Viewpoint - The company forecasts a significant decline in net profit for the year 2025, primarily due to changes in market demand, increased competition, and rising operational costs associated with ongoing research and development efforts [2][5]. Financial Performance Forecast - The company expects a net profit attributable to shareholders of the parent company to be between 41.3 million and 61.9 million yuan for 2025, representing a year-on-year decrease of 67.28% to 78.17% [2]. - The forecasted net profit, excluding non-recurring gains and losses, is projected to be between 4.3 million and 24.9 million yuan, indicating a year-on-year decline of 86.21% to 97.62% [2]. Previous Year Performance - In the previous year, the total profit was 157.2 million yuan, with a net profit attributable to shareholders of the parent company amounting to 189.2 million yuan [3]. - The net profit, excluding non-recurring gains and losses, was 180.5 million yuan [3]. Reasons for Performance Changes - The anticipated decline in net profit is attributed to fluctuations in influenza trends, changes in competitive landscape, and variations in customer demand, leading to reduced operating revenue and gross profit [5]. - Increased depreciation from completed construction projects and higher R&D expenses due to intensified investment in innovative drugs also contribute to the profit decrease [5]. Research and Development Progress - The company is focusing on the metabolic field and has developed a competitive product pipeline in multi-target combination therapies and innovative dosing frequencies [5]. - Key projects include: 1. BGM0504 injection for type 2 diabetes and weight loss, with ongoing clinical trials in China and the U.S. [5]. 2. Oral BGM0504 tablets, with IND applications approved in both China and the U.S. [6]. 3. BGM1812 injection, a new long-acting Amylin analog, currently in clinical trials in both countries [6][7]. 4. BGM1962, a novel long-acting selective receptor agonist, showing promising preclinical results [7]. 5. MSTN cyclic peptide injection, aimed at weight management while preserving lean body mass, currently in preclinical candidate stage [8]. 6. ALK7-targeted siRNA project, designed for obesity treatment, also in preclinical candidate stage [9].

Core Viewpoint - The company, Borui Biopharmaceuticals, anticipates a significant decline in its 2025 annual net profit, projecting a decrease of 67.28% to 78.17% compared to the previous year, primarily due to changes in market demand and increased R&D expenses [1][4]. Financial Performance Forecast - The estimated net profit attributable to the parent company for 2025 is projected to be between 41.3 million and 61.9 million yuan, representing a year-on-year decrease of 67.28% to 78.17% [1]. - The estimated net profit after deducting non-recurring gains and losses is expected to be between 4.3 million and 24.9 million yuan, reflecting a year-on-year decrease of 86.21% to 97.62% [1]. Previous Year Performance - In the previous year, the total profit was 157.2 million yuan, with a net profit attributable to the parent company of 189.2 million yuan, and a net profit after deducting non-recurring gains and losses of 180.5 million yuan [2]. Reasons for Performance Changes - The anticipated decline in net profit is attributed to several factors, including changes in flu trends, shifts in competitive landscape, fluctuations in customer demand, reduced operating income, increased depreciation from completed construction projects, and higher R&D expenses due to intensified investment in innovative drugs [4]. - The company is focusing on the metabolic field and has developed a competitive product pipeline in multi-target combination therapies and innovative dosing frequencies to provide comprehensive and personalized treatment options for patients [4]. Research and Development Progress - The company has made significant progress in its research projects, including: 1. BGM0504 injection for type 2 diabetes and weight loss, currently in Phase III clinical trials in China and undergoing regulatory processes in the U.S. and Indonesia [4]. 2. Oral BGM0504 tablets, with IND applications approved in both China and the U.S., currently in Phase I clinical studies [5]. 3. BGM1812 injection, a new long-acting Amylin analog, with ongoing Phase I clinical trials in both China and the U.S. [6]. 4. Oral BGM1812, in preclinical research, utilizing an authorized oral peptide formulation platform [7]. 5. BGM1962, a novel long-acting selective amylin receptor agonist, currently in preclinical research [8]. 6. MSTN cyclic peptide injection, aimed at weight management, currently in preclinical candidate stage [9]. 7. ALK7-targeted siRNA project, also in preclinical candidate stage, intended for obesity treatment [10].

Group 1 - The company, Borui Biopharmaceutical (Suzhou) Co., Ltd., will begin paying interest on its convertible bonds, "Borui Convertible Bonds," on January 5, 2026, for the period from January 4, 2025, to January 3, 2026 [2][4] - The total amount of convertible bonds issued is 46.5 million yuan, with a face value of 100 yuan per bond, and the bonds have a six-year term from January 4, 2022, to January 3, 2028 [2][16] - The interest rates for the bonds are structured to increase over the years, starting at 0.4% in the first year and reaching 3% in the sixth year [2][4] Group 2 - The interest payment for the fourth year will be at a rate of 1.5%, resulting in a payment of 15 yuan per bond (tax included) [8] - The bondholders will be registered as of December 31, 2025, and the interest will be paid on January 5, 2026 [9][10] - The company has established a process for interest payment through a designated clearing company, which will handle the distribution of interest to bondholders [10] Group 3 - The convertible bonds can be converted into shares from July 11, 2022, to January 3, 2028, with an initial conversion price of 35.68 yuan per share, which has been adjusted to 34.74 yuan per share [3][17] - The company has outlined redemption terms for the bonds, including conditions under which the company may redeem the bonds at 115% of the face value [19][20] - The company has indicated that the redemption clause may be triggered if the stock price meets certain conditions, specifically if it remains above 130% of the conversion price for a specified number of trading days [20][21]

香港交易及結算所有限公司、香港聯合交易所有限公司及證券及期貨事務監察委員 會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，並表明概不 就因本公告全部或任何部分內容而產生或依賴該等內容而引致的任何損失承擔任何 責任。 BRIGHTGENE BIO-MEDICAL TECHNOLOGY CO., LTD. 博 瑞 生 物 醫 藥（ 蘇 州 ）股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） 警告 本公告乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會 （「證監會」）的要求而刊發，僅用作向香港公眾人士提供資料。 閣下閱覽本公告， 即表示 閣下知悉、接納並向博瑞生物醫藥（蘇州）股份有限公司（「本公司」）、其獨 家保薦人、整體協調人、顧問或包銷團成員表示同意： – 1 – (a) 在聯交所網站登載本公告，並不會引致本公司、其獨家保薦人、整體協調人、 顧問或包銷團成員須於香港或任何其他司法權區進行發售或配售活動的責任。 本公司最終會否進行發售或配售仍屬未知之數； (b) 本公告所涉及的上市申請並未獲批准，聯交所及證監會或會接納、發回或拒絕 有關的公開發售及╱或上市申請； ...

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（於中華人民共和國註冊成立的股份有限公司） 香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性或完整 性亦不發表任何意見，並明確表示概不就因本申請版本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。 的申請版本 BRIGHTGENE BIO-MEDICAL TECHNOLOGY CO., LTD. 博 瑞 生 物 醫 藥（ 蘇 州 ）股 份 有 限 公 司 （「本公司」） 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監會」）的要求而 刊發，僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其內所載資訊並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即代表 閣 下知悉、接納並向本公司、本公司的獨家保薦人、整體協調人、顧問或包銷團成員表示同意： 於本公司招股章程根據香港法例第32章《公司（清盤及雜項條文）條例》送呈香港公司註冊處處長註冊前，不 會向香港公眾人士提出要約或邀請。倘於適當時候向香港公眾人士提出要約或邀請，準投資者務請僅依據 與香港公司註冊處處長註冊的本公司招股章程作出投資決定。招股章程的文本將 ...

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