一、关于股权变动：(1)请说明你公司历次增资及股权转让定价依据，是否实缴出资，是否存在未履行 出资义务、抽逃出资、出资方式存在瑕疵的情形；(2)2016年6月你公司两名股东将所持股份全部或部分 以0元转让，由此你公司控制权发生变更。请说明上述0元转让的原因，是否存在股份代持情形。如果存 在，请按照《监管规则适用指引——境外发行上市类第2号》要求进行核查；(3)你公司历史沿革中曾存 在股权代持，请按照《监管规则适用指引——境外发行上市类第2号》要求进行核查。 11月14日，中国证监会公布《境外发行上市备案补充材料要求(2025年11月10日—2025年11月14日)》。 中国证监会国际司公示10家企业补充材料要求，其中，公示提到要求艾米森补充说明股权变动、股东情 况、业务经营等事项。据港交所9月28日披露，武汉艾米森生命科技股份有限公司(简称：艾米森)向港 交所主板提交上市申请书，联席保荐人为建银国际、交银国际。 中国证监会请艾米森补充说明以下事项，请律师核查并出具明确的法律意见： 二、关于股东情况：(1)请说明最近12个月内新增股东入股价格的合理性，该等入股价格之间存在差异 的原因，并就是否存在利益输送出具明 ...

Financial Data and Key Metrics Changes - The company generated $592 million in revenue for Q3 2025, representing a 35% increase compared to Q3 2024 [6][14] - Gross margins improved to 64.9%, nearly 1.5 percentage points higher than the previous quarter and almost 3 percentage points higher than Q3 of last year [7][15] - The revenue guidance for 2025 has been raised by $160 million, now expected to be in the range of $2.18 billion to $2.26 billion [8][41] - Free cash flow generation guidance has been significantly increased, with expectations to generate roughly $100 million for the full year [10][41] Business Line Data and Key Metrics Changes - The company processed 202,000 clinical MRD tests in Q3, marking an increase of over 21,500 units compared to Q2 [7][12] - Signatera ASPs reached approximately $1,200, with strong performance across all major products [14][15] - Women's health and organ health segments showed solid sequential growth, driven by the launch of the Fetal Focus test and ongoing clinical trials [11][12] Market Data and Key Metrics Changes - The clinical MRD unit growth represented a 56% year-on-year increase compared to Q3 of last year, with significant contributions from Signatera [12][14] - The company is seeing broad adoption of Signatera across various tumor types, which is expected to create substantial revenue opportunities [13][32] Company Strategy and Development Direction - The company plans to submit seven new MolDX submissions by the end of the year, potentially worth $250 million to $300 million in gross profit [9][18] - Investments are being made to expand the market and support FDA-enabling studies for early cancer detection [10][20] - The company aims to maintain limited OPEX growth of approximately 10% while revenues are expected to grow significantly [19][45] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the momentum in clinical data and customer experience driving adoption of their tests [12][13] - The company anticipates that the IMvigor011 trial results will positively influence the adoption of Signatera among GU oncologists [26][27] - Management expects to see continued growth in cash flow generation and operational scale in the coming years [41][45] Other Important Information - The Fetal Focus test has been expanded to cover over 20 genes, with positive initial feedback from the medical community [10][11] - The company is leveraging AI to enhance operational efficiency and scale without a proportional increase in headcount [16][19] Q&A Session Summary Question: Why is now the right time for the new Fetal Focus test? - The five-gene panel launched earlier received great feedback, and R&D is now ready for the broader panel launch, which was part of the original plan [48] Question: How is the path to NCC guidelines being shaped by recent data? - The IMvigor011 data is level 1A clinical data and has been submitted for FDA approval, which typically leads to inclusion in NCCN guidelines [50][54] Question: How important was the PROCEED-CRC advanced adenoma sensitivity performance? - The performance achieved has significantly shaped the company's willingness to invest further in the program [57][59] Question: Can you provide details on the contribution from new patient starts for Signatera? - New patient starts in Q3 were at record levels, similar to the previous quarter, indicating strong ongoing interest [85][86]

Financial Data and Key Metrics Changes - The company generated $592 million in revenue for Q3 2025, representing a 35% increase compared to Q3 2024 [5] - Gross margins improved to 64.9%, nearly 1.5 percentage points higher than the previous quarter [5] - The revenue guidance for 2025 has been raised by $160 million, now expecting revenues between $2.18 billion and $2.26 billion [6][37] Business Line Data and Key Metrics Changes - Clinical MRD tests processed reached 202,000, with a growth of over 21,500 units compared to Q2 2025 [5] - Signatera ASPs are now approximately $1,200, with significant growth in cash collections and a record for days sales outstanding (DSOs) at 49 days [12][36] - Women's health and organ health segments showed strong performance, contributing to overall revenue growth [12] Market Data and Key Metrics Changes - The company reported a 56% year-on-year growth in clinical MRD unit growth, marking the fastest growth rate in 2023 [10] - The adoption of Signatera is broadening across various tumor types, indicating a significant revenue opportunity as reimbursement expands [11][15] Company Strategy and Development Direction - The company plans to submit seven new MolDX submissions by the end of the year, potentially worth $250 million to $300 million in gross profit [7] - Investments are being made to expand the market and support FDA-enabling studies for early cancer detection [8][19] - The company is focusing on maintaining a stable SG&A while investing in R&D to support new product launches and clinical trials [18][40] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the momentum in revenue and volume growth, expecting continued strong performance into Q4 2025 [5][10] - The company anticipates limited OPEX growth of around 10% while revenues are expected to grow at a faster rate [18][40] - Management highlighted the importance of clinical data and customer experience in driving adoption of their products [11][27] Other Important Information - The company launched Fetal Focus, a new single-gene NIPT for inherited conditions, expanding its panel to cover over 20 genes [9][20] - The results from the Invigor-011 trial in bladder cancer were highlighted as a significant advancement for Signatera, with implications for treatment decisions [24][30] Q&A Session Summary Question: Why is now the right time for the new Fetal Focus test? - The five-gene panel received positive feedback, and R&D has progressed to launch a broader panel, which was part of the initial plan [42] Question: How does the InVigor data impact NCC guidelines and commercial payer adoption? - The InVigor 011 data is level 1A clinical data and has been submitted for FDA approval, with expectations for inclusion in NCCN guidelines [44] Question: How important was the PRECEDE-CRC advanced adenoma performance in shaping investment decisions? - The performance achieved influenced the decision to invest further in the FIND study, with strong confidence in the roadmap of improvements [46] Question: Can you provide insights on Signatera's growth and new patient starts? - New patient starts in Q3 were at record levels, with significant growth across various tumor types, indicating a strong market position [50][61]

Core Viewpoint - Aimeson has submitted a listing application to the Hong Kong Stock Exchange, with joint sponsors being CCB International and Bank of Communications International [1] Company Summary - Aimeson is a leading early cancer detection company focused on high incidence and high mortality cancers, having developed a methylation-based early cancer detection technology [1] - The company's core products include Aixin Gan for liver cancer and Aiguang Le for urinary tract cancer, with Aixin Gan being the world's first liver cancer detection reagent based on methylation and qPCR technology, achieving a sensitivity of 84.43% for stage I liver cancer [1] - Aiguang Le allows for non-invasive detection of urinary tract cancer using just 1 milliliter of urine, enhancing efficiency and convenience [1] - Aimeson has a comprehensive early cancer detection platform covering multiple cancers, including colorectal, liver, esophageal, urinary tract, gastric, lung, and gynecological cancers, and is developing several combination detection reagents [1] Industry Summary - The Chinese tumor molecular testing market is rapidly growing, with an expected market size of 38.8 billion RMB by 2033 [1] - Aimeson employs cost-effective qPCR technology combined with proprietary iTBFinder platform, AS-Cap technology, and SEM-PCR technology to enhance detection capabilities [1] - The company is developing an automated sample processing workstation, AMStation, to support large-scale testing [1]

Core Insights - The article highlights the emergence of Amyson as a leading early cancer detection company focusing on high-incidence and high-mortality cancers, with innovative methylation-based detection technologies [2][3]. Company Overview - Amyson has developed two core products: Aixin Gan for liver cancer and Aiguang Le for urinary tract cancer, utilizing advanced qPCR technology for high sensitivity and specificity in detection [2]. - Aixin Gan achieves a sensitivity of 92.33% and specificity of 93.35%, with a sensitivity of 84.43% for stage I patients [2]. - Aiguang Le offers a non-invasive detection method using just 1 milliliter of urine, significantly improving efficiency compared to traditional methods [2]. Market Potential - The Chinese tumor molecular testing market is rapidly growing, with liver cancer incidence ranked fourth and cancer-related mortality second in 2024 [3]. - The market size has increased from RMB 4.3 billion in 2019 to RMB 8.7 billion in 2024, with a compound annual growth rate (CAGR) of 15.2%, projected to reach RMB 38.8 billion by 2033 with a CAGR of 18.1% from 2024 to 2033 [3]. Product Development Strategy - Amyson is developing a comprehensive early cancer detection platform with a diverse product pipeline targeting major cancer types, including colorectal, liver, and esophageal cancers, as well as expanding into urinary tract, gastric, lung, and gynecological cancers [4]. - The company is also working on multi-cancer detection assays, including tests for five digestive system cancers, six common cancers, and twelve cancers, leveraging proprietary technologies to enhance detection capabilities [4]. Technological and Operational Advantages - The company benefits from a robust commercialization infrastructure and a wide distribution network, covering medical testing labs and private health check centers [5]. - To address large-scale application challenges, Amyson is developing the AMStation, an automated sample processing workstation capable of handling up to 60 fecal samples in about three hours, expected to complete compliance testing by early 2026 [5]. Financial Performance - For the fiscal years ending June 30, 2023, 2024, and 2025, Amyson reported revenues of RMB 6.233 million, RMB 7.238 million, and RMB 6.513 million, respectively, with significant annual losses of RMB 67.922 million, RMB 38.630 million, and RMB 23.306 million [5][9].

Core Viewpoint - Wuhan Aimesen Life Science Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, focusing on early cancer detection technologies and addressing unmet clinical needs in China [1][3]. Company Overview - Aimesen is a leading early cancer detection company that has developed methylation-based early cancer detection technologies, with two core products: Aixin Gan for liver cancer and Aiguang Le for urinary tract cancer [3][4]. - Aixin Gan is the world's first liver cancer detection reagent based on methylation technology, achieving a sensitivity of 92.33% and specificity of 93.35%, with a sensitivity of 84.43% for stage I patients [3][4]. - Aiguang Le allows non-invasive detection of urinary tract cancer using just 1 milliliter of urine, significantly improving efficiency and convenience compared to traditional methods [3][4]. Market Opportunity - The company is targeting the rapidly growing tumor molecular testing market in China, which is expected to grow from RMB 4.3 billion in 2019 to RMB 8.7 billion by 2024, with a compound annual growth rate (CAGR) of 15.2% [4]. - The market is projected to reach RMB 38.8 billion by 2033, with a CAGR of 18.1% from 2024 to 2033 [4]. Product Development and Innovation - Aimesen has developed a comprehensive early cancer detection platform with a rich product pipeline covering major cancer types, including colorectal, liver, and esophageal cancers, and is expanding into other areas such as gastric, lung, and gynecological cancers [5]. - The company is utilizing cost-effective qPCR technology supported by its proprietary iTBFinder platform, enhancing detection capabilities through innovative techniques [5]. - Aimesen is also developing the AMStation, an automated sample processing workstation, to streamline operations and support large-scale testing [6]. Financial Performance - For the fiscal years ending June 30, 2023, 2024, and 2025, Aimesen reported revenues of RMB 6.233 million, RMB 7.238 million, and RMB 6.513 million, respectively, with significant operating losses [6][10]. - The company incurred operating losses of RMB 49.305 million, RMB 23.788 million, and RMB 6.199 million for the same periods, indicating a challenging financial landscape [10].

Core Viewpoint - Wuhan Aimeson Life Science Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, focusing on early cancer detection technologies with two core products targeting liver cancer and urinary tract cancer [1][2]. Group 1: Company Overview - The company was established in January 2015 and is a leading early cancer detection firm, concentrating on cancers with high incidence and mortality rates [1]. - Aimeson has developed the world's first methylation-based early cancer detection technology, with two main products: Aixin Gan for liver cancer and Aiguang Le for urinary tract cancer [1]. Group 2: Product Details - Aixin Gan, a liver cancer detection reagent, has a sensitivity of 92.33% and specificity of 93.35%, with a sensitivity of 84.43% for stage I patients [1]. - Aiguang Le allows non-invasive detection of urinary tract cancer using just 1 milliliter of urine, significantly improving efficiency and convenience compared to traditional methods [1][2]. - The company has additional products approved by the National Medical Products Administration (NMPA), including Aichang Kang and Aichang Jian for colorectal cancer, and Aisi Ning for esophageal cancer [2]. Group 3: Research and Development - The company's R&D expenditures for 2023, 2024, and the first half of 2025 were RMB 22.7 million, RMB 15.0 million, and RMB 4.5 million, respectively [3]. - The R&D costs for Aixin Gan and Aiguang Le were RMB 4.2 million, RMB 7.5 million, RMB 0.4 million and RMB 2.5 million, RMB 2.8 million, RMB 3.9 million, respectively, over the same periods [3]. - Aimeson has a strong internal R&D team of 28 members, primarily based in Wuhan, with 75% holding a bachelor's degree or higher [3]. Group 4: Funding Utilization - The funds raised from the listing will be allocated to the R&D, registration, and commercialization of core products Aixin Gan and Aiguang Le, as well as other pipeline products [3]. - The company aims to enhance its general R&D capabilities, improve production facility automation, and expand its product portfolio through potential acquisitions or licensing in the cancer detection field [3].

的申請版本 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。 Wuhan Ammunition Life-tech Co., Ltd.* 武漢艾米森生命科技股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）╱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、本公司的聯席保薦人、整體協調人、顧問或包銷團成員表示 同意： 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經香港公司註冊處處長登記 的本公司招股章程作出投資決定；有關文本將於發售期內向公眾人士派發。 警 告 (a) 本文件僅為向香港公眾人士提供有關本公司的資料，概無任何其他目的；投資者不應根據 本文件中的資料作出任何投資決定； (b) 在聯交所網 ...

Core Viewpoint - Early cancer detection is crucial for reducing mortality rates among cancer patients, and the study highlights the potential of phosphatidylserine-positive extracellular vesicles (PS+ EV) as a specific biomarker for multiple operable cancers [2][10]. Group 1: Importance of Early Cancer Detection - Most cancers are diagnosed at advanced stages, limiting treatment options and chances of cure [4]. - Current cancer diagnostics rely heavily on imaging techniques and histopathological analysis, which have inherent risks and insufficient sensitivity for early-stage cancers [4][5]. - There is a critical need for sensitive and accessible screening methods to detect various cancer types at earlier, more treatable stages [4]. Group 2: Liquid Biopsy and Extracellular Vesicles - Liquid biopsy is a minimally invasive and sensitive detection method that can identify cancer at earlier stages [5]. - Blood is the primary biological fluid for analyzing circulating tumor-derived components, including circulating tumor cells (CTC), extracellular vesicles (EV), and various acellular molecules [5][6]. - Tumor-derived EVs are released by metabolically active and proliferating cancer cells, providing a promising avenue for early diagnosis and clinical decision-making [6][7]. Group 3: Research Findings - The study identified phosphatidylserine (PS) as a tumor-specific EV biomarker, leading to the development of a blood biopsy method called "PSEV-MultiCancer" [7][11]. - In a clinical sample of 1869, including 1269 cancer patients, PSEV-MultiCancer achieved an area under the curve (AUC) of 0.932, with a positive detection rate of 84.7% [7]. - For early-stage (I-II) cancers, the sensitivity reached 74.7% and specificity was 89.8% [7]. Group 4: Validation and Implications - The method underwent blind validation in three independent clinical cohorts, yielding AUC values of 0.97, 0.99, and 0.89, with an average sensitivity of 84.1% and average specificity of 97.3% [8]. - These findings support PSEV-MultiCancer as a promising non-invasive early cancer detection tool, aiding timely therapeutic interventions for patients [10][11].