Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - The current global market is significantly affected by the Iran-US conflict, leading to increased volatility in various asset prices. Central banks around the world are cautious about monetary policy, and inflation concerns are rising. Different industries are facing different supply and demand situations and price trends, and investors need to pay attention to geopolitical risks and market changes [4][8][36] - In the short term, due to the uncertainty of the Middle East situation and the impact of inflation expectations, the prices of most commodities will maintain a high - volatility pattern. Some industries may face short - term price corrections, but in the long term, the upward trend of the commodity market may not end [36][42] Summary by Directory Macro - Financial Index Futures - **Market Information**: Trump's statement on the Iran - US potential agreement and Iran's denial, changes in Fed interest rate hike expectations, Fannie Mae and Freddie Mac's response to Trump's directive, and the significant increase in WuXi AppTec's net profit in 2025 [2] - **Strategy Viewpoint**: The Iran - US conflict affects global risk appetite, inflation causes the decline of Fed rate - cut expectations, and it is recommended to pay attention to the change of the war situation and control risks [4] Treasury Bonds - **Market Information**: The decline of the main contracts of treasury bonds, the issuance of central bank bills in Hong Kong, the rise of the US 2 - year treasury bond yield, and the net withdrawal of funds by the central bank [5] - **Strategy Viewpoint**: The economic data at the beginning of the year improved, but the sustainability of economic recovery needs to be observed. Inflation pressure may put pressure on the bond market, and it is expected that the bond market will be weakly volatile in the short term [6] Precious Metals - **Market Information**: The price changes of gold and silver in the domestic and international markets, the Fed's decision to maintain the interest rate, and the different stances of Fed officials on interest rate hikes [7] - **Strategy Viewpoint**: The escalation of the Iran - US war leads to inflation concerns, central banks are cautious about monetary policy, and the strengthening of the US dollar and US bond yields suppresses the valuation of precious metals. It is recommended to be cautiously bearish [8] Non - Ferrous Metals Copper - **Market Information**: The price of copper first declined and then rose due to the Middle East situation, the increase of LME inventory, the decrease of domestic social inventory, and the positive downstream procurement [10] - **Strategy Viewpoint**: Although the Middle East situation has eased, the conflict may continue. The supply of copper raw materials is tight, and the consumption sentiment has improved. The copper price may continue to test the bottom in the short term [11] Aluminum - **Market Information**: The price of aluminum rose due to the improvement of market risk preference, the decrease of inventory, and the increase of downstream procurement [12] - **Strategy Viewpoint**: The market risk sentiment has not reversed, and the supply concern has eased. The overseas supply is expected to be tight, and the domestic demand improvement may drive inventory reduction. The aluminum price may be weakly volatile in the short term [13] Zinc - **Market Information**: The decline of zinc price, the change of inventory, and the active replenishment of downstream enterprises [15] - **Strategy Viewpoint**: The zinc industry is in a weak situation, the zinc price is in a downward trend, and it is necessary to pay attention to downstream replenishment, Fed policy, and geopolitical conflicts [15] Lead - **Market Information**: The rise of lead price, the change of inventory, and the improvement of smelting enterprise operation [16] - **Strategy Viewpoint**: The lead price is at the lower edge of the long - term shock range, and there are both support and pressure factors. The volatility of lead price increases, and there is a possibility of further decline [16] Nickel - **Market Information**: The decline of nickel price, the stability of spot premium, and the stability of raw material price [17] - **Strategy Viewpoint**: In the short term, nickel price may follow the weak trend, but in the medium term, the supply - demand improvement supports the price. It is recommended to operate in the range [18] Tin - **Market Information**: The decline of tin price, the decrease of inventory, and the improvement of production and demand [19] - **Strategy Viewpoint**: The supply of tin is still constrained by raw materials, the demand is weakly repaired, and the tin price is expected to be weakly volatile [20] Lithium Carbonate - **Market Information**: The decline of the spot index of lithium carbonate and the rise of the futures contract price [21] - **Strategy Viewpoint**: The supply and demand of lithium carbonate are strong, and the short - term price is supported. It is necessary to pay attention to the changes of position, industry events, and spot premium [21] Alumina - **Market Information**: The rise of alumina index, the change of basis, and the increase of inventory [23] - **Strategy Viewpoint**: The ore price is expected to rise, the supply of alumina is tightened in the short term but oversupplied in the long term. It is recommended to wait and see [24] Stainless Steel - **Market Information**: The decline of stainless steel price, the change of inventory, and the stability of raw material price [25] - **Strategy Viewpoint**: The stainless steel market is in a game situation of weak macro and demand and strong support from the ore end. The price is expected to be volatile at a high level in the short term [25] Cast Aluminum Alloy - **Market Information**: The decline of cast aluminum alloy price, the decrease of inventory, and the narrowing of the price difference [26] - **Strategy Viewpoint**: The cost of cast aluminum alloy is supported, and the demand is expected to improve, so the short - term price has certain support [28] Black Building Materials Steel - **Market Information**: The rise of steel price, the change of inventory, and the change of spot price [30] - **Strategy Viewpoint**: The steel market is in a "weak balance" state, the demand is marginally improved, and the inventory is gradually reduced. It is necessary to pay attention to the release of peak - season demand and the impact of raw material price on cost [31] Iron Ore - **Market Information**: The rise of iron ore price, the change of inventory, and the change of basis [32] - **Strategy Viewpoint**: The overseas supply of iron ore fluctuates at a high level, the demand is gradually recovering, and the ore price is expected to be volatile at a high level [33] Coking Coal and Coke - **Market Information**: The sharp rise of coking coal and coke prices, the change of spot price, and the change of basis [34] - **Strategy Viewpoint**: The market is in a stagflation and recession trading environment, and the black sector may be supported. The short - term fundamentals of coking coal and coke are relatively loose, and it is recommended to operate short - term or wait and see [36][37] Glass and Soda Ash - **Market Information**: The rise of glass and soda ash prices, the change of inventory, and the change of position [38][39] - **Strategy Viewpoint**: The glass market is expected to be widely volatile, and the soda ash market is expected to be low - level and widely volatile [38][40] Manganese Silicon and Ferrosilicon - **Market Information**: The rise of ferrosilicon price, the impact of typhoon on the Australian mining area, and the change of basis [41] - **Strategy Viewpoint**: The market is affected by stagflation and recession, and the black sector may be supported. The supply - demand pattern of manganese silicon is not ideal, while that of ferrosilicon is good. It is necessary to pay attention to the cost and supply - side factors [42][43] Industrial Silicon and Polysilicon - **Market Information**: The rise of industrial silicon price, the decline of polysilicon price, and the change of inventory [44][47] - **Strategy Viewpoint**: The supply of industrial silicon is slightly increased, the demand improvement is weak, and the price is expected to be volatile. The polysilicon market is weak, and the price is expected to find the bottom in a volatile way [46][48] Energy and Chemicals Rubber - **Market Information**: The rise of butadiene rubber, the different views of long and short positions on natural rubber, and the change of tire enterprise operation and inventory [50][51][52] - **Strategy Viewpoint**: The market fluctuates greatly, and it is recommended to trade flexibly according to the disk, set stop - losses, and hold the hedging position [54] Crude Oil - **Market Information**: The rise of crude oil and refined oil prices [55] - **Strategy Viewpoint**: It is recommended to configure short - term bearish positions on crude oil, widen the price difference of different oil types, short the cracking spread of high - sulfur fuel oil, and short the cross - regional spread of INE - WTI [56] Methanol - **Market Information**: The change of methanol spot and futures prices [57] - **Strategy Viewpoint**: Methanol has included the geopolitical premium, and it is recommended to take profits at high prices [58] Urea - **Market Information**: The change of urea spot and futures prices [59] - **Strategy Viewpoint**: The supply and demand of urea are both strong, and it is recommended to short at high prices. There may be short - term demand support when the substitution valuation reaches the extreme [60] Pure Benzene and Styrene - **Market Information**: The change of pure benzene and styrene prices, the change of basis, and the change of supply and demand [61] - **Strategy Viewpoint**: The non - integrated profit of styrene is neutral to high, the supply is relatively wide, and the inventory is increasing. It is recommended to wait and see [62] PVC - **Market Information**: The rise of PVC price, the change of cost, and the change of supply and demand [63] - **Strategy Viewpoint**: The short - term supply of PVC is at a high level, but there are expectations of production reduction and maintenance. The demand is gradually recovering, and the price may rise in the short term [65] Ethylene Glycol - **Market Information**: The rise of ethylene glycol price, the change of supply and demand, and the change of inventory [66] - **Strategy Viewpoint**: The supply of ethylene glycol is expected to decline, the demand is gradually recovering, and the inventory is expected to be reduced. The price may rise, but attention should be paid to risks [67] PTA - **Market Information**: The rise of PTA price, the change of supply and demand, and the change of inventory [68] - **Strategy Viewpoint**: PTA is difficult to enter the de - stocking cycle, and the processing fee is difficult to rise. The price may rise, but attention should be paid to risks [69][70] p - Xylene - **Market Information**: The rise of p - xylene price, the change of supply and demand, and the change of inventory [71] - **Strategy Viewpoint**: The p - xylene load is expected to decline, the downstream demand is increasing, and the inventory is expected to be reduced. The valuation is expected to rise, but attention should be paid to risks [72] Polyethylene (PE) - **Market Information**: The rise of PE price, the change of supply and demand, and the change of inventory [73] - **Strategy Viewpoint**: The PE price is affected by the Middle East situation. The supply pressure is relieved, and the demand is recovering. It is recommended to short the LL2605 - LL2609 contract spread when the shipping volume in the Strait of Hormuz increases [74] Polypropylene (PP) - **Market Information**: The rise of PP price, the change of supply and demand, and the change of inventory [75] - **Strategy Viewpoint**: The cost of PP is expected to be stable, the supply pressure is relieved, and the demand is recovering. The short - term price is affected by geopolitical conflicts, and the long - term price is affected by production mismatch [77] Agricultural Products Live Pigs - **Market Information**: The decline of pig price, the weak downstream demand, and the difficulty of farmers' sales [79] - **Strategy Viewpoint**: The supply of live pigs is concentrated, the demand is limited, and the short - term price is expected to be weak. It is recommended to wait and see [80] Eggs - **Market Information**: The stability of egg price, the normal supply, and the stable market sales [81] - **Strategy Viewpoint**: The egg production capacity is expected to decline, but the supply is still high. The short - term price is expected to be strong, and the long - term price may decline. It is recommended to short on rebounds [82] Soybean and Rapeseed Meal - **Market Information**: The adjustment of the predicted planting area of US corn and soybeans, the change of US soybean export data, and the change of soybean inventory and crushing rate [83] - **Strategy Viewpoint**: The USDA report is neutral, and it is recommended to wait and see in the short term due to the impact of geopolitical risks on protein meal prices [84] Oils and Fats - **Market Information**: The policies and production data of Indonesia and Malaysia's palm oil, the change of domestic and international palm oil inventory, and the export data of Malaysia [85] - **Strategy Viewpoint**: The rise of crude oil price drives the rise of oil and fat prices. In the medium term, the price of oils and fats is expected to rise [86] Sugar - **Market Information**: The change of domestic and international sugar production and import data, and the prediction of global sugar production [87] - **Strategy Viewpoint**: The raw sugar price is at a discount to the Brazilian ethanol conversion price, and there is a possibility of reducing the sugar - making ratio in Brazil's new sugar - cane season. The domestic sugar price may rebound, and it is recommended to buy on dips [88] Cotton - **Market Information**: The change of domestic and international cotton import and export data, the increase of import quota, the change of spinning mill operation and inventory, and the prediction of global cotton production [89] - **Strategy Viewpoint**: The increase of import quota is short - term negative for Zhengzhou cotton price and positive for US cotton price. In the medium term, the downstream operation is improving, and it is recommended to buy on dips [90]

Financial Data and Key Metrics Changes - In 2025, WuXi AppTec achieved total revenue of RMB 45.46 billion, with revenue from continuing operations growing 21.4% year-over-year to RMB 43.42 billion [6] - Adjusted non-IFRS net profit grew 41.3% year-over-year to RMB 14.96 billion, with a non-IFRS net profit margin improving 5.9 percentage points to 32.9% [6][21] - The adjusted non-IFRS gross profit reached RMB 21.89 billion, with a gross profit margin expanding to 48.2%, up 6.6 percentage points year-over-year [20] Business Line Data and Key Metrics Changes - WuXi Chemistry revenue grew 25.5% year-over-year to RMB 36.47 billion, with an adjusted non-IFRS gross profit margin of 52.3% [11] - Small molecule D&M business revenue increased 11.4% year-over-year to RMB 19.92 billion [12] - TIDES revenue nearly doubled, growing 96% year-over-year to RMB 11.37 billion [15] Market Data and Key Metrics Changes - Revenue from the U.S. market grew 34.3% year-over-year, while Japan, Korea, and other regions grew 4.1% [8] - Europe and China experienced declines mainly due to fluctuations in project delivery timing [8] Company Strategy and Development Direction - The company remains focused on enhancing its integrated CRDMO core business and improving operational efficiency to meet customer demand [23] - WuXi AppTec aims to sustain rapid business growth, expecting total revenue to reach RMB 51.3 billion - RMB 53 billion in 2026, with continuing operations revenue growing 18%-22% year-over-year [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic challenges, including currency exchange impacts and geopolitical uncertainties [30][31] - The company is committed to maintaining a stable and resilient adjusted non-IFRS net profit margin in 2026 [24] Other Important Information - WuXi AppTec achieved MSCI AAA and CDP Climate Change A ratings in 2025, reflecting its commitment to sustainability [9] - The board proposed a cash dividend distribution plan totaling a record RMB 5.7 billion in 2026, maintaining a 30% annual cash dividend payout ratio [25] Q&A Session All Questions and Answers Question: How does management think about the impact of currency exchange? - Management acknowledged the FX movement and expressed confidence in their execution capabilities despite macroeconomic volatility [30] Question: How would you think about the impact of geopolitics and oil prices on your margins going forward? - Management noted that while there are potential risks to raw material costs, they have not seen direct impacts on operations and will monitor the situation closely [31] Question: What would be the next key modalities that could potentially be the new focus? - Management indicated that while peptide demand is high, they are also seeing growth in oligonucleotides, which could become a significant focus [32] Question: Have you sensed any change in client outsourcing strategy in the past six to 12 months? - Management stated that they are committed to improving capabilities and investing in capacities to meet customer needs, regardless of internal manufacturing trends in the pharmaceutical industry [35] Question: What is WuXi AppTec's positioning in oral small molecule GLP-1 CDMO business? - Management reported double-digit growth in the small molecule sector, with contributions from GLP-1 small molecules [46] Question: How do you see sustainability of TIDES business growth? - Management expressed confidence in sustained growth due to high demand for their largest products and a robust pipeline [54] Question: Can you give us some color on the general timeline that it takes for a new facility to be built? - Management stated that in China, a new facility can become fully operational in less than 12 months [57] Question: How is the current Middle East situation impacting the company's investment view in Saudi Arabia? - Management confirmed that their long-term strategy remains unchanged and they continue to engage with stakeholders in Saudi Arabia [60] Question: What is the company's view on relations between the U.S. and China? - Management expressed confidence that WuXi AppTec will not be included in the 1260H list and emphasized their transparent corporate governance [70]

Financial Data and Key Metrics Changes - In 2025, WuXi AppTec achieved total revenue of RMB 45.46 billion, with revenue from continuing operations growing 21.4% year-over-year to RMB 43.42 billion [6] - Adjusted non-IFRS net profit grew 41.3% year-over-year to RMB 14.96 billion, with a non-IFRS net profit margin improving 5.9 percentage points to 32.9% [6][20] - Adjusted non-IFRS gross profit reached RMB 21.89 billion, with a gross profit margin expanding to 48.2%, up 6.6 percentage points year-over-year [20] Business Line Data and Key Metrics Changes - WuXi Chemistry revenue grew 25.5% year-over-year to RMB 36.47 billion, with an adjusted non-IFRS gross profit margin of 52.3% [11] - Small molecule D&M business revenue increased 11.4% year-over-year to RMB 19.92 billion [12] - TIDES revenue almost doubled to RMB 11.37 billion in 2025, with a backlog growth of 20.2% year-over-year [15] Market Data and Key Metrics Changes - Revenue from the U.S. market grew 34.3% year-over-year, while Japan, Korea, and other regions grew 4.1% [8] - Europe and China experienced declines mainly due to fluctuations in project delivery timing [8] Company Strategy and Development Direction - The company remains focused on enhancing core capabilities and capacity to meet customer demand, with a strong emphasis on the CRDMO business model [7][23] - WuXi AppTec aims to drive operational efficiency and resilience to navigate dynamic market conditions, with a revenue guidance of RMB 51.3 billion to RMB 53 billion for 2026 [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining rapid business growth despite macroeconomic uncertainties, with a continuing operations revenue growth expectation of 18%-22% for 2026 [28][60] - The company is closely monitoring geopolitical situations and their potential impacts on operations and costs, maintaining a mature and diversified procurement network [31][59] Other Important Information - WuXi AppTec achieved MSCI AAA and CDP Climate Change A ratings in 2025, reflecting its commitment to sustainability [9] - The board proposed a cash dividend distribution plan totaling RMB 5.7 billion in 2026, maintaining a 30% annual cash dividend payout ratio [25] Q&A Session Summary Question: Impact of currency exchange on guidance - Management acknowledged the impact of FX movements but expressed confidence in their execution capabilities and the visibility provided by the CRDMO business model [30] Question: Geopolitical impact on margins - Management noted potential risks to upstream raw material costs but emphasized their operational efficiency and procurement strategies to mitigate impacts [31] Question: Pipeline behind TIDES CapEx budget - Management highlighted the ongoing demand for peptides and the growth potential of oligonucleotides, indicating a focus on multiple modalities [32][33] Question: Client outsourcing strategy changes - Management stated that large pharma's internal manufacturing does not change their commitment to improving capabilities and providing services [35] Question: Current utilization rate of small molecule capacity - Management indicated strong demand and ongoing collaborations with leading companies, enhancing their business in the Biology and Testing sectors [37] Question: Impact of FDA's regulatory changes on drug approvals - Management expressed that any regulatory streamlining would benefit patients and potentially increase demand for drug substances [39] Question: Positioning in oral small molecule GLP-1 CDMO business - Management confirmed strong growth in the small molecule sector, particularly in GLP-1 drugs, and anticipated benefiting from high demand [41][46] Question: Revenue breakdown and geographical mix - Management noted strong growth across all regions, with expectations for continued growth in the U.S., China, and Europe [48][52] Question: Sustainability of TIDES business growth - Management expressed confidence in sustained growth driven by a robust pipeline and ongoing demand for their products [54] Question: Timeline for new facility contributions - Management stated that new facilities in China can become operational in less than 12 months [57] Question: Competitive landscape in siRNA CRO space - Management acknowledged the presence of many players but emphasized their focus on quality, speed, and cost as competitive advantages [62][64] Question: Confidence in new orders and booking assumptions - Management expressed confidence in converting backlog into revenue and maintaining strong execution capabilities [66]

Financial Data and Key Metrics Changes - In 2025, WuXi AppTec achieved total revenue of RMB 45.46 billion, with revenue from continuing operations growing 21.4% year-over-year to RMB 43.42 billion [6][20] - Adjusted non-IFRS net profit grew 41.3% year-over-year to RMB 14.96 billion, with a non-IFRS net profit margin improving 5.9 percentage points to 32.9% [6][21] - The adjusted non-IFRS gross profit reached RMB 21.89 billion, with a gross profit margin expanding to 48.2%, up 6.6 percentage points year-over-year [20] Business Line Data and Key Metrics Changes - WuXi Chemistry revenue grew 25.5% year-over-year to RMB 36.47 billion, with an adjusted non-IFRS gross profit margin of 52.3% [10] - Small molecule D&M business revenue increased 11.4% year-over-year to RMB 19.92 billion [11] - TIDES revenue nearly doubled, growing 96% year-over-year to RMB 11.37 billion, with a backlog growth of 20.2% [15] Market Data and Key Metrics Changes - Revenue from the U.S. market grew 34.3% year-over-year, while Japan, Korea, and other regions grew 4.1% [7] - Europe and China experienced declines due to fluctuations in project delivery timing [7] Company Strategy and Development Direction - The company remains focused on its integrated CRDMO core business, aiming to enhance global capabilities and operational efficiency [24] - WuXi AppTec plans to maintain a cash dividend distribution plan totaling RMB 5.7 billion in 2026, with a 30% annual cash dividend payout ratio [26] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining rapid business growth, expecting total revenue to reach RMB 51.3 billion to RMB 53 billion in 2026, with continuing operations revenue growing 18%-22% year-over-year [24] - The company is closely monitoring geopolitical situations and their potential impact on operations, emphasizing a mature and diversified procurement network [32][60] Other Important Information - WuXi AppTec achieved MSCI AAA and CDP Climate Change A ratings in 2025, reflecting its commitment to sustainability [8] - The company completed 741 quality audits and inspections in 2025, maintaining high standards for quality and compliance [9] Q&A Session Summary Question: Impact of currency exchange on guidance - Management acknowledged the impact of FX movements but emphasized strong visibility in their CRDMO business model [30] Question: Geopolitical impact on margins - Management noted that while there are potential risks to raw material costs, they have not seen direct impacts on operations [32] Question: TIDES CapEx and future modalities - Management indicated that while peptide demand remains high, they are also seeing growth in oligonucleotides and complex small molecules [34] Question: Client outsourcing strategy changes - Management stated that large pharma continues to manufacture internally but they remain committed to improving capabilities and providing services [36] Question: Current utilization rate of small molecule capacity - Management highlighted their ability to provide high-quality data, which drives business for their Biology and Testing segments [38] Question: FDA's new trial requirements - Management believes that regulatory streamlining will benefit patients and potentially increase demand for drug substances [40] Question: Positioning in oral small molecule GLP-1 CDMO business - Management confirmed strong growth in the small molecule sector, particularly in GLP-1 drugs [47] Question: Revenue breakdown and geographical mix - Management noted strong growth across all regions, with a focus on customer needs driving geographic revenue growth [49][50] Question: Sustainability of TIDES growth - Management expressed confidence in sustained growth due to a robust pipeline and increasing demand for their products [54] Question: Timeline for new facility contributions - Management stated that new facilities in China can become operational in less than 12 months [57] Question: Impact of Middle East situation on investments - Management reassured that their long-term strategy remains unchanged despite geopolitical tensions [59] Question: Confidence in new orders and revenue guidance - Management expressed confidence in converting backlog into revenue and maintaining growth trajectory [65] Question: WuXi AppTec's position on the 1260H list - Management stated they are confident WuXi AppTec will not be included in the list and will continue to monitor the situation [70]

Macro Dynamics - The second meeting of the upgraded China-Europe export control dialogue mechanism was held in Beijing, focusing on deep and constructive communication regarding export control concerns, with an agreement to maintain communication to stabilize and smooth the China-Europe industrial and supply chains [2] Market Data - On March 23, the A-share market saw significant declines, with the Shanghai Composite Index dropping by 3.63%, the Shenzhen Component Index by 3.76%, and the ChiNext Index by 3.49%. The coal sector performed well, with companies like Yunmei Energy and Liaoning Energy hitting the daily limit [7] - The Hang Seng Index fell by 3.54%, and the Hang Seng Tech Index decreased by 3.28%. Gold stocks experienced significant declines, with Chifeng Jilong Gold dropping over 25% [8][9] - As of March 20, the total margin balance in the two markets decreased by 172.66 billion yuan, with the Shanghai Stock Exchange reporting a margin balance of 1,328.72 billion yuan and the Shenzhen Stock Exchange 1,277.85 billion yuan [10] Company Dynamics - WuXi AppTec reported a projected net profit growth of 103% for 2025, with expected revenue of 45.456 billion yuan, a year-on-year increase of 15.84%. The company plans to distribute a cash dividend of 15.79 yuan per 10 shares, totaling approximately 4.712 billion yuan [11] - Huawei launched a new smartwatch, the Huawei WATCH Ultimate 2, which supports dolphin sonar communication and Beidou satellite voice messaging, along with various health and fitness features [12] - *ST Lifan received a decision from the Shenzhen Stock Exchange to terminate its stock listing, with trading expected to resume on March 31, 2026, entering a delisting preparation period [13]

海外監管公告 本海外監管公告乃由本公司根據香港聯合交易所有限公司證券上市規則第 13.10B條作出。 茲載列本公司在上海證券交易所網站刊登的以下資料中文全文，僅供參閱。 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，概不對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。 WUXI APPTEC CO., LTD. * 無錫藥明康德新藥開發股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2359） 承董事會命 無錫藥明康德新藥開發股份有限公司 董事長 李革博士 香港，2026年3月23日 截至本公告日期，本公司董事會包括執行董事李革博士、陳民章博士、楊青博士及張朝暉先生； 非執行董事童小幪先生及吳亦兵博士；以及獨立非執行董事盧韶華女士、俞衛博士、張新博士、 詹智玲女士及冷雪松先生。 * 僅供識別 证券简称：药明康德 证券代码：603259 无锡药明康德新药开发股份有限公司 2025 年 H 股奖励信托计划 （2026 年修订） 1 __________________________ ...

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，概不對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。 WUXI APPTEC CO., LTD. * 無錫藥明康德新藥開發股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2359） 海外監管公告 本海外監管公告乃由本公司根據香港聯合交易所有限公司證券上市規則第 13.10B條作出。 茲載列本公司在上海證券交易所網站刊登的以下資料中文全文，僅供參閱。 承董事會命 無錫藥明康德新藥開發股份有限公司 董事長 李革博士 香港，2026年3月23日 截至本公告日期，本公司董事會包括執行董事李革博士、陳民章博士、楊青博士及張朝暉先生； 非執行董事童小幪先生及吳亦兵博士；以及獨立非執行董事盧韶華女士、俞衛博士、張新博士、 詹智玲女士及冷雪松先生。 * 僅供識別 证券简称：药明康德 证券代码：603259 无锡药明康德新药开发股份有限公司 2026 年 H 股奖励信托计划 （草案） 1 ________________________________ ...

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，概不對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。 WUXI APPTEC CO., LTD. * 無錫藥明康德新藥開發股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2359） 海外監管公告 本海外監管公告乃由本公司根據香港聯合交易所有限公司證券上市規則第 13.10B條作出。 茲載列本公司在上海證券交易所網站刊登的以下資料中文全文，僅供參閱。 承董事會命 無錫藥明康德新藥開發股份有限公司 董事長 李革博士 香港，2026年3月23日 截至本公告日期，本公司董事會包括執行董事李革博士、陳民章博士、楊青博士及張朝暉先生； 非執行董事童小幪先生及吳亦兵博士；以及獨立非執行董事盧韶華女士、俞衛博士、張新博士、 詹智玲女士及冷雪松先生。 无锡药明康德新药开发股份有限公司 关于变更公司注册资本并修改公司章程的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任 ...

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，概不對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。 WUXI APPTEC CO., LTD. * 無錫藥明康德新藥開發股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2359） 海外監管公告 本海外監管公告乃由本公司根據香港聯合交易所有限公司證券上市規則第 13.10B條作出。 茲載列本公司在上海證券交易所網站刊登的以下資料中文全文，僅供參閱。 承董事會命 無錫藥明康德新藥開發股份有限公司 董事長 李革博士 香港，2026年3月23日 截至本公告日期，本公司董事會包括執行董事李革博士、陳民章博士、楊青博士及張朝暉先生； 非執行董事童小幪先生及吳亦兵博士；以及獨立非執行董事盧韶華女士、俞衛博士、張新博士、 詹智玲女士及冷雪松先生。 * 僅供識別 无锡药明康德新药开发股份有限公司 独立董事候选人声明 本人 Christine Shaohua Lu-Wong（卢韶华），已充分了解并同意由提名人无锡 药明康德新药开发股份有限公司（以下简称 ...

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，概不對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。 WUXI APPTEC CO., LTD. * 無錫藥明康德新藥開發股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2359） 海外監管公告 本海外監管公告乃由本公司根據香港聯合交易所有限公司證券上市規則第 13.10B條作出。 茲載列本公司在上海證券交易所網站刊登的以下資料中文全文，僅供參閱。 無錫藥明康德新藥開發股份有限公司 董事長 李革博士 香港，2026年3月23日 截至本公告日期，本公司董事會包括執行董事李革博士、陳民章博士、楊青博士及張朝暉先生； 非執行董事童小幪先生及吳亦兵博士；以及獨立非執行董事盧韶華女士、俞衛博士、張新博士、 詹智玲女士及冷雪松先生。 * 僅供識別 承董事會命 无锡药明康德新药开发股份有限公司 独立董事提名人声明 提名人无锡药明康德新药开发股份有限公司（以下简称"药明康德"）董事 会，现提名 Christine Shaohua Lu-Wong（卢韶 ...