Group 1 - The company, Kanglong Chemical, announced that it will accept investor research on March 31, 2026, with participation from CFO and Board Secretary Li Chengzong [1] - The company is engaging with investors through a structured research process, indicating a proactive approach to investor relations [1] Group 2 - Multiple banks have announced the cleaning of "sleeping" accounts, which may impact the banking industry and customer account management practices [1]

Group 1 - The company's laboratory services achieved revenue of 8.1589 billion yuan, a year-on-year increase of 15.8% [1] - The gross margin for the year 2025 reached 44.7%, an increase of 0.3 percentage points compared to the previous year [1] - New orders in this segment grew by approximately 12% year-on-year [1] Group 2 - The company expanded multiple strategic partnerships in 2025, making significant progress in large collaborative projects [1] - The laboratory services revenue from biological sciences accounted for over 56% of total revenue [1] - As of December 31, 2025, the company employed 11,776 staff in laboratory services, including over 7,100 laboratory chemists, positioning itself as a leader in scale and experience globally [1] Group 3 - The company participated in 887 global innovative drug discovery projects during the reporting period [1] - The total revenue reported for the year ending December 31, 2025, was 14.095 billion yuan, reflecting a year-on-year growth of 14.8% [2] - The profit attributable to the parent company was 1.664 billion yuan, a decrease of 7.2% year-on-year, with basic earnings per share of 0.9443 yuan [2]

Core Viewpoint - After strategic adjustments, Taimei Medical Technology has achieved significant improvements in quality and efficiency, with core operating indicators showing positive trends and a return to accelerated growth in new orders, driven by the scaling of its AI strategy [2][4]. Financial Performance - In 2025, Taimei Medical Technology reported total revenue of 513 million RMB, a slight decrease of 7.0% year-on-year, primarily due to the company's strategic choice to optimize its revenue structure and reduce low-margin businesses [6]. - The gross margin improved to 42.4% in 2025, up 1.6 percentage points from 40.8% in 2024, indicating the effectiveness of the revenue structure optimization strategy [8]. - The annual loss significantly narrowed from 217 million RMB in 2024 to 50.7 million RMB in 2025, a reduction of 76.7%. The adjusted net loss was only 19.9 million RMB, a decrease of 73% year-on-year, exceeding market expectations [10]. Customer Base and Market Position - As of December 31, 2025, Taimei has served over 1,600 global pharmaceutical companies and CROs, participating in over 10,000 clinical development projects across 30 countries, solidifying its position as a leading provider of clinical development infrastructure solutions in China [12]. - Approximately 60% of Class 1 innovative drugs in China conducted clinical trials using Taimei's AI clinical development platform, and the company processes about 50% of adverse reaction reports in China [12]. AI Strategy and Platform Development - Taimei continues to strengthen its "AI for Success" strategy, focusing on addressing challenges in clinical development. The company has developed a comprehensive clinical development infrastructure covering clinical operations, data management, medical analysis, drug safety, and digital marketing [14]. - In 2025, Taimei achieved commercial breakthroughs in several AI modules, including AI agents for data science and drug safety, enhancing customer collaboration and operational efficiency [14]. Strategic Growth Engines - Looking ahead to 2026 and beyond, Taimei plans to focus on three strategic directions: expanding AI agent coverage across key R&D processes, accelerating international expansion in markets like the US, Singapore, Japan, South Korea, and Australia, and gradually advancing its innovative drug rights platform [16].

Core Viewpoint - Kanglong Chemical (03759) has announced that its board has approved a proposal to increase the company's registered capital and amend its articles of association [1] Group 1: Capital Increase - The company plans to increase its registered capital from RMB 1.778 billion (1.778 billion shares) to RMB 1.837 billion (1.837 billion shares) [1] - This increase is attributed to the placement of a total of 58.4408 million new H-shares scheduled for January 22, 2026 [1] - Additionally, 647,300 restricted A-shares from the fourth vesting period of the 2021 A-share incentive plan and the third vesting period of the 2022 A-share incentive plan will be registered and listed for circulation on January 29, 2026 [1] Group 2: Amendments to Articles of Association - The board's proposal includes amendments to the company's articles of association in line with the capital increase [1]

Core Viewpoint - 康龙化成 reported a revenue of 14.095 billion RMB for the year ending December 31, 2025, representing a year-on-year growth of 14.82%, while the net profit attributable to shareholders decreased by 7.2% to 1.664 billion RMB [1] Group 1: Financial Performance - The company announced a proposed final dividend of 2.0 RMB per 10 shares (tax included) for the year ending December 31, 2025 [1] - The revenue growth of 14.82% indicates strong operational performance despite the decline in net profit [1] - The new signed orders increased by over 14% year-on-year, indicating a positive trend in business development [1] Group 2: Strategic Initiatives - The company emphasizes a customer-centric service philosophy and leverages an integrated service platform to meet diverse global client needs [1] - Significant achievements were noted in expanding the client base, particularly with large pharmaceutical companies [1] - The company is actively implementing market strategies tailored to the Chinese market, contributing to rapid growth in client business [1] Group 3: Future Outlook - The company anticipates a revenue growth of 12% to 18% for the year 2026 based on new signed orders and business trends [1] - The company maintains industry leadership in small molecule fields while also achieving rapid development in new molecular type projects [1]

Core Viewpoint - Zhaoyan New Drug (603127.SH) reported a revenue of 1.658 billion yuan for the year 2025, reflecting a year-on-year decrease of 17.87% while achieving a net profit attributable to shareholders of 298 million yuan, which represents a significant year-on-year increase of 302.08% [1] Financial Performance - The company’s revenue for 2025 was 1.658 billion yuan, down 17.87% compared to the previous year [1] - The net profit attributable to shareholders reached 298 million yuan, marking a substantial increase of 302.08% year-on-year [1] - The net profit excluding non-recurring gains and losses was 311 million yuan, showing an impressive growth of 1221.30% year-on-year [1] - Basic earnings per share were reported at 0.40 yuan [1] Dividend Distribution - The company plans to distribute a cash dividend of 1.2 yuan (including tax) for every 10 shares to all shareholders [1] Business Segments - The net profit attributable to shareholders, excluding non-recurring gains and losses, was primarily driven by profits from laboratory services and other business operations, along with the impact of fluctuations in the market value of biological assets [1]

香港交易及結算所有限公司、香港聯合交易所有限公司（「聯交所」）及香港中央結算有限公司 （「香港結算」）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 示概不就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的任何損失承擔任何責 任。 Pharmaron Beijing Co., Ltd. （於中華人民共和國註冊成立的股份有限公司） （股份代號：3759） 海外監管公告 本公告乃康龍化成（北京）新藥技術股份有限公司（「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。 康 龍 化 成（ 北 京 ）新 藥 技 術 股 份 有 限 公 司 茲載列本公司於深圳證券交易所網站刊登公告如下，僅供參閱。 承董事會命 康龍化成（北京）新藥技術股份有限公司 主席 樓柏良博士 中華人民共和國，北京 2026年3月30日 於本公告日期，董事會包括執行董事樓柏良博士、樓小強先生及鄭北女士；職工 代表董事李承宗先生；非執行董事李家慶先生及萬璇女士；獨立非執行董事李麗 華女士、曾勁峰教授及余堅先生。 证券代码：300759 证券简称：康龙化成 公告编号：2026-010 康龙化成（北京） ...

Core Viewpoint - Zhaoyan New Drug announced the approval of multiple proposals, including the full text and summary of the 2025 annual report, during the second meeting of the fifth board of directors [1] Group 1 - The company held its second meeting of the fifth board of directors on March 30 [1] - The board approved the proposal regarding the 2025 annual report [1]

Core Viewpoint - Zhaoyan New Drug (06127) reported a revenue of 1.658 billion RMB for the year ending December 31, 2025, representing a year-on-year decrease of 17.9% [1] Financial Performance - The company's net profit attributable to equity shareholders reached 298 million RMB, showing a significant year-on-year increase of 302.1% [1] - Basic earnings per share were reported at 0.40 RMB [1] - A proposed final dividend of 0.12 RMB per ordinary share was announced [1] Order Status - The total order backlog for the reporting period was approximately 2.6 billion RMB [1] - New signed orders during the period also amounted to approximately 2.6 billion RMB [1] Revenue Decline Factors - The decrease in revenue was primarily driven by a decline in project unit prices due to earlier intense competition [1]

Revenue Performance - The company achieved operating revenue of 14.095 billion yuan in 2025, representing a year-on-year growth of 14.82%, maintaining double-digit growth for three consecutive years [1][16] - Revenue growth rates for different business segments were as follows: laboratory services at 15.78%, CMC (small molecule CDMO) services at 16.53%, and large molecule and cell and gene therapy services at 16.48%, all exceeding the overall growth rate. Clinical research services saw a slower growth rate of 7.14% [1][16] - By region, revenue growth was recorded at 10.97% in North America, 27.42% in Europe, and 15.69% in China, with Europe emerging as a new growth driver [1][16] Profitability Analysis - The net profit attributable to shareholders was 1.664 billion yuan in 2025, a decrease of 7.22% year-on-year, primarily due to a significant investment gain from the disposal of PROTEOLOGIX, INC. in the previous year and a substantial reduction in non-recurring gains this period [2][17] - Excluding non-recurring gains, the company achieved a net profit of 1.538 billion yuan, reflecting a significant year-on-year increase of 38.85%, indicating a notable improvement in core profitability [2][17] Earnings Per Share - Basic earnings per share slightly decreased to 0.9443 yuan, down 6.81% year-on-year, while the diluted earnings per share, excluding non-recurring items, increased significantly to 0.8439 yuan, up 38.85%, aligning with the growth in core net profit [4][19] Expense and R&D Investment - Total expenses for the company amounted to 2.775 billion yuan in 2025, a year-on-year increase of 12.68%, with an expense ratio of 19.69%, up 0.21 percentage points from the previous year [5][20] - R&D expenses grew significantly by 22.75% to 576 million yuan, indicating a strong commitment to technological innovation [5][20] - The number of R&D personnel reached 22,874, a year-on-year increase of 19.19%, with the proportion of personnel holding a master's degree or higher rising to 38.3% [7][23] Cash Flow Analysis - The net cash flow from operating activities was 3.221 billion yuan, reflecting a year-on-year growth of 25.01%, significantly outpacing revenue and net profit growth [9][24] - Investment cash outflows totaled 7.795 billion yuan, a year-on-year increase of 48.36%, with a net cash flow from investment activities of -4.374 billion yuan, indicating a substantial decline [10][25] - Financing cash inflows increased to 2.883 billion yuan, a year-on-year growth of 116.36%, with net cash flow from financing activities turning positive at 377 million yuan, alleviating funding pressure [11][26] Executive Compensation - The company's chairman, Dr. Boliang Lou, received a pre-tax compensation of 5.2174 million yuan, while other key executives received compensation ranging from 3.6 million to 4.4174 million yuan, indicating a reasonable incentive mechanism linked to company performance [13][28]