Core Viewpoint - The company Hutchison China MediTech Limited (和黄医药) announced that its Executive Director Dr. Su Weiguo will temporarily suspend his role as Chief Executive Officer due to health reasons [1] Group 1: Management Changes - The board has appointed Mr. Zheng Zefeng, the current Executive Director and Chief Financial Officer, as the acting Chief Executive Officer effective immediately [1] - Mr. Zheng will oversee the company's daily operations and management during the transition period to ensure continuity in leadership and decision-making [1]

Core Viewpoint - Hutchison China MediTech Limited (00013.HK) announced that its Executive Director Dr. Su Weiguo will temporarily suspend his role as CEO due to health reasons, with the CFO Mr. Zheng Zefeng appointed as acting CEO effective immediately [1] Company Management Changes - The board has appointed Mr. Zheng Zefeng, who is also the Executive Director and CFO, to take on the role of acting CEO during this transition period [1] - Mr. Zheng will oversee the company's daily operations and management to ensure continuity in leadership and decision-making [1]

Core Viewpoint - HUTCHMED announces the temporary leave of its CEO Dr. Weiguo Su due to health reasons, with CFO Johnny Cheng appointed as Acting CEO to ensure continuity in operations and strategy execution [1][2]. Company Leadership Changes - Dr. Weiguo Su, the Executive Director and CEO, is taking a leave of absence for health reasons, emphasizing the need to focus on his recovery [1][2]. - Johnny Cheng, currently the Executive Director and CFO, has been appointed as Acting CEO, effective immediately, while continuing his role as CFO [1][2]. Board Support and Confidence - The Board of Directors expresses full support for Dr. Su and confidence in Mr. Cheng's capabilities to manage the company during this interim period [2]. - The Board reassures stakeholders that all research, development, and commercial initiatives will remain on track despite the leadership change [2]. Company Overview - HUTCHMED is an innovative, commercial-stage biopharmaceutical company focused on the discovery, development, and commercialization of targeted therapies and immunotherapies for cancer and immunological diseases [3]. - The company has successfully marketed its first three medicines in China, with the first also approved in global markets including the US, Europe, and Japan [3].

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 對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。 HUTCHMED (China) Limited 和⿈醫藥（中國）有限公司 （於開曼群島註冊成⽴的有限公司） （股份代號：13） 和⿈醫藥宣佈委任代理⾸席執⾏官 和⿈醫藥 （中國）有限公司（簡稱 「和⿈醫藥」或 「HUTCHMED」或 「本公司」）今天宣佈 ，董事會獲悉本公司執 ⾏董事蘇慰國博⼠因健康理由將暫停履⾏⾸席執⾏官的職務。 有鑑於此，董事會已委任本公司執⾏董事兼⾸席財務官鄭澤鋒先⽣擔任代理⾸席執⾏官⼀職，即時⽣效。 鄭先⽣除擔任⾸席財務官外，亦將於過渡期間負責監督本公司的⽇常營運和管理，確保本公司領導及決策的連續 性。 在此期間 ，蘇博⼠將繼續擔任本公司的⾸席科學官，其⾓⾊與職責將在本集團科學團隊的⽀持下履⾏，該團隊將繼 續按計劃進⾏已訂定的藥物研究⼯作和開發管線。董事會有信⼼所有研發和商業計劃將繼續如期進⾏。 董事會全⼒⽀持蘇博⼠並祝願他早⽇康復。董事會亦感謝鄭先⽣於此過渡期間擔任代理⾸席執⾏ ...

Investment Rating - The report assigns a "Buy-A" investment rating to the company, with a target price of HKD 33.22 over the next six months [3][6]. Core Insights - The company reported a revenue of USD 278 million and a net profit of USD 455 million for the first half of 2025. The overseas sales of FRUZAQLA® (the international name for furuzantin) increased by 25% to USD 162.8 million, attributed to an expanded market presence in over 30 countries. In the domestic market, the sales of Aiyoute® (the Chinese name for furuzantin) reached USD 43 million, reflecting intensified market competition and optimization of the sales team structure, although recent trends indicate a recovery in growth [1][2]. - The company has several upcoming milestones in its clinical development pipeline, including the completion of patient recruitment for SAFFRON III and SANOVO studies in late 2025, and plans to submit new drug applications for various candidates in 2026 [2]. Financial Projections - Revenue projections for the company are estimated at CNY 4.01 billion, CNY 5.05 billion, and CNY 6.35 billion for 2025, 2026, and 2027 respectively. Net profits are expected to be CNY 2.86 billion, CNY 480 million, and CNY 1.04 billion for the same years [3][9]. - The report anticipates a significant increase in net profit margin, projecting a net profit margin of 70.91% in 2025, followed by 9.50% in 2026 and 16.49% in 2027 [15]. Clinical Development Pipeline - The company is set to initiate clinical trials for its first antibody-drug conjugate (ATTC) candidate by the end of 2025, with additional global new drug clinical trial applications expected in 2026 [2].

Group 1 - The company reported a revenue of $278 million in the first half of 2025, with oncology business revenue at $144 million, and oncology product revenue at $99 million, reflecting a year-on-year decline of 29% due to intensified competition in domestic sales [1] - The company has revised its full-year oncology business revenue guidance to $270-350 million, primarily due to delays in milestone revenue recognition and the postponed launch of a product [1] - New product approvals and the expansion of new indications are expected to initiate a second growth curve for the company, with significant contributions anticipated from newly approved indications for existing products [1] Group 2 - The new generation ATTC platform (antibody-drug conjugates) is expected to enable synergistic effects between antibodies and small molecule inhibitors while reducing chemotherapy toxicity, leading to better safety profiles [2] - The company has developed multiple high-selectivity and effective potential pipelines based on the ATTC platform, with the first candidate drug expected to enter clinical development in the second half of this year [2] - Due to increased competition for certain products, the company has adjusted its revenue forecasts for 2025-2027 to $600 million, $706 million, and $797 million respectively, down from previous estimates [2]

HUTCHMED (China) Limited 和黃醫藥（中國）有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock Code: 13) NOTIFICATION LETTER Dear Non-registered Shareholders (1) , HUTCHMED (China) Limited (the "Company") – Notice of Publication of the 2025 Interim Report ("Current Corporate Communications") The English and Chinese versions of the Current Corporate Communications are available on the website of the Company at https://www.hutch- med.com (click "Shareholder Information", then "Financial Reports & Fi ...

HUTCHMED (China) Limited 和黃醫藥（中國）有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock Code: 13) NOTIFICATION LETTER Dear Shareholders, HUTCHMED (China) Limited (the "Company") – Notice of Publication of the 2025 Interim Report ("Current Corporate Communications") The English and Chinese versions of the Current Corporate Communications are available on the website of the Company at https://www.hutch-med.com (click "Shareholder Information", then "Financial Reports & Filings") (the "Company ...

於開曼群島註冊成立之有限公司 2025 中期報告 2025 中期報告 公司資料 董事會 主席兼非執行董事 艾樂德BA, MA, MA, PhD 執行董事 蘇慰國BSc, PhD 首席執行官兼首席科學官 鄭澤鋒BEc, CA(ANZ) 首席財務官 非執行董事 施熙德BSE, MA, MA, EdM, Solicitor, FCG, HKFCG 楊凌BA, BSc, MBA 獨立非執行董事 莫樹錦BMSc, MD, FRCPC, FHKCP, FHKAM, FRCP(Edin), FASCO (1) 高級兼首席獨立非執行董事 言思雅MBBS, MBA 卡博樂BA, FCMA (2) 胡朝紅BSc, PhD 蓆紀倫BCom, CA(ANZ), FCPA (3) 黃德偉BCom, FCPA, CA(ANZ) 審核委員會 蓆紀倫 （主席） (3) 黃德偉 （主席） (4) 言思雅 卡博樂 (2) 胡朝紅 (5) 提名委員會 莫樹錦 （主席） 艾樂德 胡朝紅 蓆紀倫 (3) 附註： (1) 於 2025年 5月 13日獲委任為高級兼首席獨立非執行董事 薪酬委員會 卡博樂 （主席） (2) 言思雅 （主席） (6) 蓆紀倫 ...

Investment Rating - The report maintains a "Buy" rating for the company [3][6]. Core Insights - The company is experiencing steady growth in overseas markets while facing short-term pressure on domestic sales. The revenue for the first half of 2025 reached 278 million USD, with tumor business revenue at 144 million USD, reflecting a 29% decline year-on-year due to increased competition [9]. - New product approvals and the expansion of new indications are expected to drive a second growth curve. The sales of Furmonertinib reached 206 million USD in the first half of 2025, with overseas sales growing by 25% year-on-year [9]. - The new generation technology platform ATTC is set to initiate a wave of innovative drug development, with the first candidate expected to enter clinical development in the second half of the year [9]. Financial Forecasts and Investment Recommendations - The company has adjusted its revenue forecasts for 2025-2027 to 600.43 million USD, 705.84 million USD, and 796.91 million USD respectively, down from previous estimates [3]. - The target price is set at 38.32 HKD for 2026, based on a comparable company PS of 6.06 times [3]. - Key financial metrics include a projected net profit of 456.58 million USD in 2025, reflecting a significant year-on-year increase of 1110.15% [5].