Financial Performance - The company's operating revenue for Q3 2024 reached ¥957 million, representing a year-on-year increase of 59.73%[2] - Net profit attributable to shareholders for Q3 2024 was ¥407 million, up 101.38% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥364 million, reflecting an 85.44% increase year-on-year[2] - For the first nine months of 2024, total revenue reached CNY 2.533 billion, an increase of 87.97% compared to the same period last year[13] - Total operating revenue for the first three quarters of 2024 reached CNY 2,533,480,109.53, a significant increase from CNY 1,347,801,762.83 in the same period of 2023, representing an increase of approximately 88.1%[16] - Net profit for the first three quarters of 2024 was CNY 1,062,948,077.37, compared to CNY 410,427,066.86 in the same period of 2023, marking an increase of about 158.5%[16] - The company reported a total comprehensive income of CNY 1,118,116,117.50 for the first three quarters of 2024, compared to CNY 412,056,257.48 in 2023, which is an increase of approximately 171.5%[18] - Basic and diluted earnings per share for the first three quarters of 2024 were both CNY 2.36, compared to CNY 0.91 in the same period of 2023, representing an increase of approximately 159.3%[18] Research and Development - Research and development expenses totaled ¥234 million in Q3 2024, a significant increase of 198.76% compared to the same period last year[3] - The ratio of R&D expenses to operating revenue increased by 24.41 percentage points to 11.36%[3] - Research and development expenses for the first three quarters of 2024 totaled CNY 207,670,593.28, up from CNY 191,351,163.78 in 2023, indicating a growth of approximately 8.5%[16] - The company signed a licensing and development agreement with JAKOS for exclusive rights to develop KRAS G12C inhibitor and SHP2 inhibitor in China, expanding its oncology pipeline[13] - The company received approval from the National Medical Products Administration to conduct clinical trials for AST2303, a new generation EGFR oral inhibitor targeting EGFR C797S mutation[13] Assets and Liabilities - Total assets at the end of Q3 2024 amounted to ¥5.43 billion, a 24.14% increase from the end of the previous year[3] - As of September 30, 2024, total assets amounted to CNY 5.433 billion, up from CNY 4.376 billion at the end of 2023[15] - The company's total liabilities as of September 30, 2024, were CNY 570 million, compared to CNY 394 million at the end of 2023[15] - The company's retained earnings rose significantly from CNY 229 million to CNY 908 million compared to the previous year[15] - The company’s capital reserve increased from CNY 3.175 billion to CNY 3.230 billion year-over-year[15] Cash Flow and Operating Activities - Cash flow from operating activities for the year-to-date period reached ¥1.24 billion, up 167.71% year-on-year[2] - The net cash flow from operating activities for the first three quarters of 2024 was CNY 1,236,489,837.49, compared to CNY 461,873,407.41 in the same period of 2023, reflecting an increase of about 167.5%[19] - The company reported cash and cash equivalents of CNY 474,698,599.31 at the end of the third quarter of 2024, down from CNY 988,981,874.59 at the end of 2023, indicating a decrease of approximately 52.0%[19] - The cash and cash equivalents decreased from CNY 1.862 billion at the end of 2023 to CNY 717 million as of September 30, 2024[15] - The company received cash from sales and services amounting to CNY 2,791,421,304.47 in the first three quarters of 2024, compared to CNY 1,449,107,899.32 in the same period of 2023, an increase of approximately 92.7%[19] Strategic Initiatives - The company implemented cost reduction and efficiency improvement measures, contributing to a net profit increase[5] - The company plans to continue expanding its product offerings and market presence, particularly in the area of innovative drug development[6] Accounting and Reporting - The company has adopted new accounting standards starting in 2024, impacting the financial statements from the beginning of the year[20] - The third quarter report was officially announced on October 25, 2024[21]

Financial Performance - The company reported a significant increase in revenue, achieving a total of $X million for the first half of 2024, representing a Y% growth compared to the same period last year[10]. - The company's total revenue for the first half of 2024 reached ¥1,576,480,088.85, representing a 110.57% increase compared to ¥748,674,712.29 in the same period last year[19]. - Net profit attributable to shareholders was ¥656,136,849.43, up 214.82% from ¥208,414,161.95 year-on-year[21]. - The basic earnings per share rose to ¥1.46, a 217.39% increase from ¥0.46 in the previous year[20]. - The net cash flow from operating activities increased by 293.73% to ¥730,267,159.10, primarily due to significant sales revenue from the core product, Furmonertinib[22]. - The company achieved total revenue of 1.576 billion RMB, representing a year-on-year growth of 110.57%[75]. - Net profit attributable to the parent company reached 656 million RMB, with a year-on-year increase of 214.82%[75]. - The net profit after deducting non-recurring gains and losses was CNY 646,879,800, reflecting a growth of 251.94% year-on-year[85]. Research and Development - The company has outlined its commitment to research and development of new drugs, particularly focusing on targeted therapies for cancer treatment[8]. - Research and development expenses amounted to ¥131,252,239.55, remaining stable year-on-year, with R&D expenses accounting for 8.33% of total revenue, a decrease of 9.33 percentage points[21]. - The company is actively developing several new drug candidates, including a fourth-generation EGFR-TKI and various inhibitors targeting PRMT5, KRAS, and p53, all aimed at treating solid tumors[25]. - The company’s research and development process covers all stages from drug discovery to post-marketing studies, ensuring a comprehensive approach to new drug development[41]. - The company’s R&D capabilities are focused on developing best-in-class and first-in-class drug molecules[60]. - The company has established a comprehensive drug development system covering all stages from discovery to commercialization, focusing on innovative oncology drugs[24]. - The company has signed a collaboration agreement with a partner for the exclusive commercialization rights of Pralsetinib capsules in mainland China, which is the first approved RET inhibitor in the region, targeting a market of approximately 10,000 new patients annually[37]. Market Outlook and Strategy - The company provided an optimistic outlook for the second half of 2024, projecting revenue growth of B% driven by new product launches and market expansion strategies[10]. - The company is focusing on expanding its market presence in D regions, aiming to increase market share by E% over the next year[10]. - A strategic acquisition was announced, which is expected to enhance the company's capabilities in the oncology sector and contribute an additional F million in revenue annually[11]. - The company is leveraging its strong sales capabilities in the lung cancer treatment field to maximize the market coverage of Pralsetinib capsules[42]. - The company is committed to ecological priority and green low-carbon development, enhancing environmental management and facilities during operations[105]. Corporate Governance and Compliance - The half-year report is unaudited, ensuring transparency in financial reporting[4]. - The company has confirmed that all board members attended the board meeting, ensuring governance compliance[4]. - The report highlights various risk factors that the company may face during its operations, detailed in the "Management Discussion and Analysis" section[4]. - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[4]. - The company has maintained a good integrity status, with no court judgments unfulfilled or significant debts overdue during the reporting period[131]. Environmental and Social Responsibility - The company invested a total of ¥13,125.22 million in R&D projects during the reporting period, with cumulative investments reaching ¥133,616.19 million[66]. - The company has established mechanisms for environmental protection and complies with national environmental laws and regulations[103]. - The company has implemented carbon reduction measures, including a solar water heating system that saves approximately 60 tons of carbon emissions annually[104]. - The company promotes low-carbon awareness among employees through centralized and paperless offices, information meetings, and recycling initiatives[105]. Shareholder Information and Profit Distribution - The company plans to distribute a cash dividend of 2.50 RMB per 10 shares, totaling approximately 450 million RMB based on a total share capital of 112.5 million shares as of June 30, 2024[98]. - The company commits to not repurchase shares or transfer shares held before the public offering until it achieves profitability[115]. - The company's profit distribution policy emphasizes continuity and stability, considering long-term interests and sustainable development[117]. - Cash dividends will be prioritized when conditions are met, with a minimum distribution of 10% of the distributable profit if no major investment plans arise[118]. Legal and Regulatory Matters - The company reported significant legal proceedings, including an arbitration application filed by Jiangsu Fosun Pharmaceutical Sales Co., Ltd. regarding an exclusive promotion agreement, which has been accepted and is pending a hearing[131]. - There are no significant related party transactions reported during the period, and all transactions are conducted at market prices[132]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[130]. Financial Reporting and Audit - The financial statements were prepared in accordance with the Chinese Accounting Standards, ensuring compliance and accuracy[185]. - The company has not reported any non-standard audit opinions or issues from the previous annual report[130]. - The company recognizes expected credit losses for financial assets measured at amortized cost based on historical experience and future economic forecasts[195].

Financial Performance - The company's revenue for Q1 2024 reached ¥742,835,715.09, representing a year-on-year increase of 168.65%[4] - Net profit attributable to shareholders was ¥306,052,559.16, showing a significant increase of 777.51% compared to the same period last year[4] - The net profit after deducting non-recurring gains and losses was ¥301,141,732.04, reflecting a remarkable increase of 1,423.83% year-on-year[4] - Basic and diluted earnings per share were both ¥0.68, marking a substantial increase of 750.00% compared to the previous year[4] - The company achieved operating revenue of RMB 743 million in Q1 2024, a significant increase of 168.65% compared to the same period last year[12] - Net profit attributable to the parent company reached RMB 306.05 million, marking a substantial growth of 777.51% year-over-year[12] - The net profit attributable to the parent company after deducting non-recurring gains and losses was RMB 301.14 million, reflecting an impressive increase of 1,423.83% compared to the previous year[12] - Operating profit for Q1 2024 was CNY 313,917,428.44, compared to CNY 36,685,177.03 in Q1 2023, indicating a substantial increase of about 757.5%[19] - Net profit for Q1 2024 was CNY 306,052,559.16, up from CNY 34,877,411.06 in Q1 2023, reflecting an increase of approximately 775.5%[19] - The company reported a total comprehensive income of CNY 320,044,154.27 for Q1 2024, compared to CNY 34,174,103.40 in Q1 2023, indicating a growth of about 836.5%[19] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥4,376,495,351.66, an increase of 7.40% from the end of the previous year[4] - As of March 31, 2024, total assets amounted to RMB 4.70 billion, an increase from RMB 4.38 billion at the end of 2023[16][17] - The company's cash and cash equivalents stood at RMB 2.40 billion, up from RMB 1.86 billion at the end of 2023[16] - Total liabilities decreased to RMB 379.72 million from RMB 394.22 million at the end of 2023[17] - The equity attributable to the parent company increased to RMB 4.32 billion, compared to RMB 3.98 billion at the end of 2023[17] - Cash and cash equivalents at the end of Q1 2024 totaled CNY 1,919,566,295.01, compared to CNY 374,809,250.57 at the end of Q1 2023, marking an increase of approximately 412.5%[22] Research and Development - Research and development expenses totaled ¥64,126,011.92, accounting for 8.63% of revenue, which is a decrease of 14.35 percentage points year-on-year[4] - Research and development expenses for Q1 2024 were CNY 64,126,011.92, slightly up from CNY 63,535,586.23 in Q1 2023, showing a marginal increase of 1%[18] - The company has received approval for the Phase I clinical trial of its self-developed KRAS G12D selective inhibitor, AST2169, which addresses a significant unmet clinical need[14] Shareholder Information - The top shareholder, Shanghai Qiaoke Enterprise Development Co., Ltd., holds 32.17% of the shares, with a total of 144,776,786 shares[9] - The company has a strong shareholder base, with the top 10 shareholders holding significant stakes, including Chen Xiaofa with 6,721,880 shares[11] Government Support - The company received government subsidies amounting to ¥1,325,609.20 during the reporting period[6] Product Performance - The increase in net profit was primarily driven by a substantial rise in sales of the drug Fumeitini, which was included in the medical insurance list this year[8] - The core product, Furmetin, has been included in the national medical insurance directory, which is expected to positively impact sales performance in 2024[13]

Financial Performance - The company has not achieved profitability since its listing [3]. - The company reported a revenue of RMB 1.5 billion for the fiscal year 2023, representing a year-over-year growth of 20% [11]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY, representing a 25% growth year-over-year [15]. - The total operating revenue for 2023 was CNY 2,018,182,563.12, an increase of 155.14% compared to the previous year, primarily due to the inclusion of the core product, Furmonertinib tablets, in the national medical insurance directory, leading to a significant increase in sales volume [23]. - The net profit attributable to shareholders of the parent company reached CNY 644,174,819.25, representing a growth of 393.54% year-on-year, driven by substantial revenue growth and effective cost control [23]. - The net cash flow from operating activities was CNY 674,649,764.32, an increase of 636.28% compared to the previous year [21]. - Basic earnings per share for 2023 were CNY 1.43, up 393.10% from CNY 0.29 in 2022 [22]. - The company reported a total of CNY 37,990,536.06 in non-recurring gains and losses for 2023 [26]. - The company experienced a significant increase in quarterly revenue, with Q4 2023 revenue reaching CNY 670,380,800.29, marking a continuous growth trend throughout the year [25]. - The company achieved total revenue of 2,018.18 million yuan, a year-on-year increase of 155.14% [29]. - The net profit attributable to the parent company was 644.17 million yuan, up 393.54% year-on-year, while the net profit excluding non-recurring gains and losses reached 606.18 million yuan, reflecting a 663.70% increase [29]. Research and Development - Research and development expenses amounted to CNY 313,059,372.61, a 63.26% increase year-on-year, but the proportion of R&D expenses to operating revenue decreased to 15.51%, down 8.73 percentage points from the previous year [23]. - The company is advancing its research and development efforts, with three new drug applications (NDA) expected to be submitted in the next 12 months [14]. - The company has a robust pipeline with multiple new drug candidates in clinical and preclinical stages, including a fourth-generation EGFR-TKI and PRMT5 inhibitors [39][40]. - The company is conducting multiple clinical trials to explore Furmonertinib's clinical advantages, including a Phase III trial for adjuvant therapy in EGFR mutation-positive NSCLC patients [51]. - The company has developed AST2169, a selective inhibitor for KRAS G12D mutations, which are found in approximately 30% of pancreatic cancer cases, 12% of colorectal cancer cases, and 4% of non-small cell lung cancer cases [54]. - The company is also developing a next-generation EGFR oral small molecule inhibitor (ABK3376), currently in the preclinical stage, with a total investment of approximately ¥2.32 million [84]. - The company’s R&D efforts are focused on achieving best-in-class and first-in-class drug candidates through its core technologies in drug design and optimization [78]. - The company has established a GMP-compliant production facility to ensure effective supply of Furmonertinib [90]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by the end of 2025 [11]. - Market expansion plans include entering two new international markets by Q3 2024, targeting a 15% market share in those regions [15]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 200 million CNY allocated for this purpose [15]. - A strategic acquisition of a biotech firm was completed, enhancing the company's R&D capabilities in oncology [12]. - The company signed a collaboration agreement to obtain exclusive commercialization rights for Pralsetinib capsules in mainland China, which is the first approved RET inhibitor in the region [52]. - The company is actively expanding Furmonertinib's clinical indications through ongoing clinical trials for various patient populations, including those with CNS metastases and rare mutations [51]. Corporate Governance - The company has received a standard unqualified audit report from PwC Zhong Tian [4]. - The company does not have any special arrangements for corporate governance [4]. - The board of directors has fully attended the board meeting [4]. - The company has established various committees under the board, including audit, compensation, and strategy committees, to enhance governance efficiency [147]. - The company has a performance management system in place for senior management, which includes setting clear goals and conducting regular evaluations [200]. - The company has established employee stock ownership plans and other incentive measures to align employee interests with company performance [199]. Risk Factors - The company has detailed various risk factors in its annual report, which can be found in the "Management Discussion and Analysis" section [4]. - The company faces risks related to reliance on a single product and potential market competition, which could affect financial performance [93]. - The company is exposed to regulatory risks due to the highly regulated nature of the pharmaceutical industry, which may affect operational strategies [97]. - The company faced risks related to potential adjustments in the National Medical Insurance Directory, which could impact the market share and sales revenue of Furmonertinib [96]. Employee Development - The company is focused on talent development, implementing a structured training program to enhance employee skills and support sustainable growth [35]. - The company has implemented a digital learning platform, "Aixuetang," to enhance employee training and development [187]. - The company launched an AI coaching system, "Aijiaolian," in 2023 to improve employees' professional knowledge and core information transmission capabilities [187]. - The company has a training system that includes professional courses, general skills courses, and leadership courses for employees at all levels [186]. Profit Distribution - The proposed profit distribution plan for 2023 includes a cash dividend of 4.00 CNY per 10 shares, totaling 180,000,000 CNY, which represents 27.94% of the net profit attributable to shareholders [5]. - The company has established a cash dividend policy, ensuring that at least 10% of the distributable profit is allocated as cash dividends if there are no major investment plans or expenditures [190]. - The cash dividend distribution policy requires a minimum of 80% payout for mature companies without significant capital expenditure plans, and 40% if there are significant expenditures [191]. - The profit distribution proposal must be approved by more than half of the board members before being submitted to the shareholders' meeting for review [192]. - The company engages in regular communication with shareholders, especially minority shareholders, to gather their opinions before the profit distribution plan is reviewed [192].

第二章 独立董事任职资格 上海艾力斯医药科技股份有限公司 独立董事工作制度 第一章 总则 1 第一条 为完善上海艾力斯医药科技股份有限公司(以下简称"公司")治理结 构, 促进公司规范运作, 维护公司和股东的利益, 根据《中华人民共 和国公司法》(以下简称"《公司法》")、《上市公司独立董事管理办法》 (以下简称"《独立董事管理办法》")以及《上海艾力斯医药科技股份 有限公司章程》(以下简称"公司章程")的有关规定, 并结合公司实 际情况, 制定本制度。 第二条 独立董事是指不在公司担任除董事外的其他职务, 并与其所受聘的 公司及其主要股东、实际控制人不存在直接或者间接利害关系, 或者 其他可能妨碍其进行独立客观判断的关系的董事。 第三条 独立董事对公司及全体股东负有忠实与勤勉义务。独立董事应当按照 有关法律、行政法规、规范性文件、中国证券监督管理委员会(以下 简称"中国证监会")规定、证券交易所业务规则和公司章程的要求, 认 真履行职责, 维护公司整体利益, 尤其要关注中小股东的合法权益不 受损害。 第四条 独立董事应当独立履行职责, 不受公司主要股东、实际控制人或者其 他与公司存在利害关系的单位或个人的影 ...

上海艾力斯医药科技股份有限公司董事会 2023 年度关于独立董事独立性评估的专项意见 根据证监会《上市公司独立董事管理办法》《上海证券交易所科创板股 票上市规则》《上海证券交易所科创板上市公司自律监管指引第 1 号——规 范运作》等相关要求，上海艾力斯医药科技股份有限公司（以下简称"公司"） 董事会，就公司独立董事阳佳余、吕超、严骏、朱圣韬的独立性情况进行评 估并出具如下专项意见： 经核查公司独立董事阳佳余、吕超、严骏、朱圣韬的兼职、任职情况以 及其签署的独立性自查情况报告，上述人员除在公司担任独立董事及董事 会专门委员会委员外，不存在在公司任职以及在公司主要股东单位任职的 情形，与公司以及主要股东之间不存在利害关系、重大业务往来或其他可能 妨碍其独立性的关系。因此，董事会认为公司独立董事符合《上市公司独立 董事管理办法》《上海证券交易所科创板上市公司自律监管指引第 1 号—— 规范运作》中对独立董事独立性的相关要求。 上海艾力斯医药科技股份有限公司董事会 2024 年 4 月 24 日 ...

公司第二届董事会审计委员会由独立董事严骏先生、董事长杜锦豪先生和独 立董事阳佳余女士三名成员组成，其中独立董事委员占审计委员会成员总数的 2/3，主任委员由具备会计专业资格的严骏先生担任。 二、董事会审计委员会会议召开情况 2023 年，公司董事会审计委员会共召开了 5 次会议。全体委员本着勤勉尽 责的原则，认真履行职责，均亲自出席会议，投票表决通过了全部议案，并就公 司关联交易决策、定期报告、公司财务状况、募集资金管理等事项发表了专业意 见。 2023 年度，董事会审计委员会共召开 5 次会议，全体委员均出席了会议， 具体审议情况如下： 上海艾力斯医药科技股份有限公司 董事会审计委员会 2023 年度履职情况报告 根据中国证监会《上市公司治理准则》、上海证券交易所《上海证券交易所 科创板上市公司自律监管指引第 1 号——规范运作》，并按照上海艾力斯医药科 技股份有限公司（以下简称"公司"）《公司章程》等有关规定和要求，公司董 事会审计委员会在 2023 年度勤勉尽责，认真履行了董事会审计委员会的工作职 责，现对 2023 年度的履职情况汇报如下： 一、董事会审计委员会的基本情况 | 第二届审计委员 | 20 ...

上海艾力斯医药科技股份有限公司 2023 年度独立董事述职报告（严骏） 作为上海艾力斯医药科技股份有限公司（以下简称"公司"）的独立董事， 我在任职期间严格按照《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》、《上海证券交易所科创板股票上市规则》等相关法 律、法规，以及《公司章程》等规定，在 2023 年度工作中，勤勉、尽责、诚信、 独立地履行独立董事的职责，积极出席相关会议，认真审议各项会议议案，切实 维护了公司和股东的利益。现将 2023 年度履行职责的情况述职如下： 一、独立董事的基本情况 2019 年 11 月 28 日公司召开 2019 年第一次临时股东大会，选举阳佳余女 士、吕超先生、严骏先生、朱圣韬先生担任公司第一届董事会独立董事。2023 年 4 月 7 日公司召开 2023 年第二次临时股东大会，选举阳佳余女士、吕超先生、 严骏先生、朱圣韬先生担任公司第二届董事会独立董事。 （一）现任独立董事的基本情况 严骏先生，现任公司独立董事，1982 年出生，中国国籍，无境外永久居留 权，毕业于复旦大学世界经济系国际经济与贸易专业，本科学历，中国注册会计 师；2004 年 ...

证券代码：688578 证券简称：艾力斯 公告编号：2024-013 上海艾力斯医药科技股份有限公司 关于修订《公司章程》、修订及制定公司 部分治理制度的公告 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、准确性和完整性依法承担法律责任。 上海艾力斯医药科技股份有限公司（以下简称"公司"）于 2024 年 4 月 24 日召开第二届董事会第八次会议，审议通过了《关于修订<公司章程>的议案》、 《关于修订公司部分治理制度的议案》以及《关于制定<独立董事专门会议制度> 的议案》。《上海艾力斯医药科技股份有限公司章程》（以下简称"《公司章程》"） 及部分治理制度的修订尚需提交公司股东大会审议。现将有关情况公告如下： | （九）当公司存在以下情形时，可以不 | | --- | | 进行利润分配： | | 1. 最近一年审计报告为非无保留意见 | | 或带与持续经营相关的重大不确定性 | | 段落的无保留意见; | | 2. 最近一个会计年度资产负债率高于 | | 70%; | | 3. 最近一个会计年度经营性现金流为 | | 负。 | 除上述条款修订外，其他条款 ...

上海艾力斯医药科技股份有限公司 2023 年度独立董事述职报告（朱圣韬） 2023 年度，公司共召开了 11 次董事会、3 次股东大会，我作为独立董事出 席会议情况如下： 作为上海艾力斯医药科技股份有限公司（以下简称"公司"）的独立董事， 我在任职期间严格按照《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》、《上海证券交易所科创板股票上市规则》等相关法 律、法规，以及《公司章程》等规定，在 2023 年度工作中，勤勉、尽责、诚信、 独立地履行独立董事的职责，积极出席相关会议，认真审议各项会议议案，切实 维护了公司和股东的利益。现将 2023 年度履行职责的情况述职如下： 一、独立董事的基本情况 2019 年 11 月 28 日公司召开 2019 年第一次临时股东大会，选举阳佳余女 士、吕超先生、严骏先生、朱圣韬先生担任公司第一届董事会独立董事。2023 年 4 月 7 日公司召开 2023 年第二次临时股东大会，选举阳佳余女士、吕超先生、 严骏先生、朱圣韬先生担任公司第二届董事会独立董事。 （一）现任独立董事的基本情况 朱圣韬先生，现任公司独立董事，1978 年出生，中国国籍，无 ...