Financial Data and Key Metrics Changes - Revenue increased by 3.4% to RMB4.1 million compared to RMB3.9 million in the same period last year [5][9] - Gross profit rose by 13.1% to RMB1.8 million, with a gross profit margin of 45.3%, up from 41.4% [9][10] - Net loss was RMB56.1 million, which includes a one-time IPO charge of RMB19.4 million and stock compensation costs of RMB17.5 million, compared to a net loss of RMB34.9 million in the previous year [5][9][10] Business Line Data and Key Metrics Changes - The company commercialized two new products, including an immunology test, which has significant market potential [6][7] - Testing volume returned to normal levels with 65,000 paid tests conducted in a single month [6] Market Data and Key Metrics Changes - The new lab in Philadelphia is now operational and CLIA certified, with plans to start clinical studies soon [7] - The company has seen increased annual physical tests and check-up volumes in China as COVID-19 is under control [31] Company Strategy and Development Direction - The company aims to solidify its leadership position in the market by expanding its IP and patent portfolio [13] - The introduction of new products, particularly the immunology test, is expected to drive revenue growth [31] - The company is focused on providing cost-effective cancer screening solutions, with a pan cancer screening test priced at $275 [28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about revenue growth in the second half of the year due to improved market conditions and new product traction [31] - The company anticipates increased pricing power and customer acceptance, contributing to better financial performance [31][14] Other Important Information - The company paid down a significant amount of debt, now only holding RMB6 million [10] - Net cash used in operating activities increased by 143% to RMB53.9 million, primarily due to IPO-related costs [10][11] Q&A Session Summary Question: Will the new data from the five-year study in lung cancer push CDA testing to become the new standard for post-treatment monitoring? - Management believes that the market will eventually head in that direction, as CDA technology is seen as a cost-effective way to monitor post-treatment for lung cancer [17] Question: Will there be a push towards studying pediatric cancers in the future? - The company has begun to look at pediatric cancer screening as part of its testing lineup, although no information has been released yet [19] Question: What other diseases will the new immunology testing line address beyond COVID-19? - The immunology test will assess a range of diseases, including allergies and cancer, using a holistic approach to evaluate an individual's immune system [22][23] Question: How much blood is needed for the COVID test being developed? - Typically, 1 cc to 2 cc of blood is required for the test [24] Question: What advantages does AnPac Bio have in the crowded cancer screening market? - AnPac Bio has a head start with over five years of commercialization in China, a large volume of paid tests, and the ability to offer lower-cost testing compared to competitors [26][28] Question: What is the expected revenue growth for the second half of the year? - Management is confident in strong revenue growth due to the return to normal operations in China, new product launches, and increased pricing power [31] Question: What are the expected milestones for the San Jose and Philadelphia labs? - Immediate marketing of COVID testing and progress towards laboratory developed test (LDT) approval are key milestones [35][36] Question: What is the status of the CFDA Class III approval process in China? - The company is working on testing and performance evaluations, with an expectation of another year and a half to obtain approval [40]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR o SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIE ...