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份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。 上 海 復 星 醫 藥（ 集 團 ）股 份 有 限 公 司 Shanghai Fosun Pharmaceutical (Group) 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：02196） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列上海復星醫藥（集團）股份有限公司（「本公司」）在上海證券交易所網站刊登的《2025 年年度報告》，僅供參閱。 承董事會命 上海復星醫藥（集團）股份有限公司 董事長 陳玉卿 中國，上海 2026 年3 月2 4 日 於本公告日期，本公司之執行董事為陳玉卿先生、關曉暉女士、文德鏞先生、王可心先生及劉毅先生；本公 司之非執行董事為陳啟宇先生及潘東輝先生；本公司之獨立非執行董事為余梓山先生、王全弟先生、Chen Penghui先生及楊玉成先生；以及本公司職工董事為嚴佳女士。 * 僅供識別 上海复星 ...

Group 1 - The core point of the article is that Hualan Biological has announced that its subsidiary, Hualan Gene Engineering Co., Ltd., has received a notice of acceptance for the production registration application of Dazhu Single Antibody Injection from the National Medical Products Administration [2] Group 2 - The acceptance notice has the registration application number CXSS2500138 [2]

Core Viewpoint - Hualan Biological (002007.SZ) announced that its subsidiary, Hualan Gene Engineering Co., Ltd., received a notice of acceptance for the production registration application of Dexamethasone Injection from the National Medical Products Administration, marking a significant step towards market entry for this biosimilar drug [1][2] Group 1 - The Dexamethasone Injection developed by the company is a biosimilar, with the original product developed by Amgen and approved in multiple countries for treating various bone diseases, including osteoporosis and giant cell tumors [1] - Dexamethasone is a humanized monoclonal antibody (IgG2 type) that targets RANKL, a key factor necessary for osteoclast formation and function, thereby preventing bone-related events caused by malignant tumor bone metastasis [1] - The drug effectively inhibits osteoclast-mediated bone resorption and destruction, making it an important supportive treatment for cancer patients [1] Group 2 - Currently, four companies in China have received approval for Dexamethasone Injection, including Jiangsu Taikang Biopharmaceutical Co., Ltd., Qilu Pharmaceutical Co., Ltd., Shandong Boan Biotechnology Co., Ltd., and Canaan Jereh (Jilin) Biotechnology Co., Ltd. [2] - If Hualan Gene receives approval, it will enhance the product portfolio of the company and provide a new profit growth point [2]

Core Viewpoint - Hualan Biological (002007.SZ) announced that its subsidiary, Hualan Gene Engineering Co., Ltd., received a notice of acceptance for the production registration application of Dexamethasone Injection from the National Medical Products Administration, marking a significant step towards market entry for this biosimilar drug [1][2] Group 1: Product Development - The Dexamethasone Injection developed by the company is a biosimilar drug, with the original product developed by Amgen and approved in multiple countries for treating various bone diseases such as osteoporosis and giant cell tumors [1] - Dexamethasone is a humanized monoclonal antibody (IgG2 type) that targets RANKL, a key factor necessary for osteoclast formation and function, thereby preventing bone-related events caused by malignant tumor bone metastasis [1] Group 2: Market Context - Currently, four companies in China, including Jiangsu Taikang Biopharmaceutical Co., Ltd., Qilu Pharmaceutical Co., Ltd., Shandong Boan Biotechnology Co., Ltd., and Canaan Jereh (Jilin) Biotechnology Co., Ltd., have received approval for their Dexamethasone Injection [2] - If Hualan Gene is approved for market entry, it will enhance the product portfolio of the company and provide a new profit growth point [2]

Group 1 - Dongfang Zhizao's controlling shareholder, Kexiang High-tech, is planning to transfer approximately 14.33% of its shares to Guangxi Modern Logistics Group or its designated entity, which may lead to a change in company control [1] - The company's stock will be suspended from trading starting December 15, 2025, with an expected suspension period of no more than 2 trading days [1] Group 2 - Overseas Chinese Town A reported a contract sales area of 86,000 square meters in November 2025, a year-on-year decrease of 61% and a month-on-month decrease of 5% [1] - The contract sales amount for November 2025 was 1.2 billion yuan, down 65% year-on-year and down 8% month-on-month [1] - For the period from January to November 2025, the cumulative contract sales area was 1.071 million square meters, a year-on-year decrease of 31%, and the contract sales amount was 15.75 billion yuan, a decrease of 33% year-on-year [1] Group 3 - Hualan Biological's associate company, Hualan Gene Engineering, has received a notice of acceptance for the domestic production registration application of Dexamethasone Injection from the National Medical Products Administration [1]

Core Viewpoint - The company announced that its subsidiary, Hualan Gene Engineering Co., Ltd., has received the acceptance notice for the production registration application of Dexamethasone Injection from the National Medical Products Administration [1] Group 1 - The drug is classified as a Class 3 biological product for therapeutic use [1] - The specification of the drug is 120mg (1.7ml) per bottle [1] - The applicant for the drug registration is Hualan Gene Engineering Co., Ltd. [1]

Core Viewpoint - The company announced that its affiliate, Hualan Gene Engineering Co., Ltd., received a notice of acceptance for the production registration application of denosumab injection from the National Medical Products Administration, marking a significant step towards market entry for this biosimilar drug [1]. Group 1: Product Development - The denosumab injection developed by the company is a biosimilar drug, with the original product developed by Amgen and approved in multiple countries for treating various bone diseases, including osteoporosis and giant cell tumors [1]. - Denosumab is a humanized monoclonal antibody (IgG2 type) that specifically targets RANKL, a key factor necessary for the formation, function, and survival of osteoclasts [1]. Group 2: Market Context - Currently, four companies in China have received approval for denosumab injection, including Jiangsu Taikang Biopharmaceutical Co., Ltd., Qilu Pharmaceutical Co., Ltd., Shandong Boan Biotechnology Co., Ltd., and Cangzhou Jereh Biotech Co., Ltd. [2]. - If Hualan Gene Engineering Co., Ltd. receives approval, it will enhance the product portfolio of the company and provide a new profit growth point [2].

Core Viewpoint - Fosun Pharma (600196.SH; 02196.HK) reported a decline in revenue for the first three quarters of 2025, but a significant increase in net profit, driven by its innovative drug segment and plans for the spin-off of its subsidiary, Fosun Antigen, for listing in Hong Kong [1][2][3]. Financial Performance - For the first three quarters of 2025, Fosun Pharma achieved revenue of 29.39 billion yuan, a year-on-year decrease of 4.91% [1][2]. - The net profit attributable to shareholders was 2.52 billion yuan, reflecting a year-on-year increase of 25.5% [1][2]. - Innovative drug revenue exceeded 6.7 billion yuan, marking an 18.09% year-on-year growth [1]. - The net cash flow from operating activities was 3.38 billion yuan [1]. Quarterly Results - In Q3 2025, revenue was 9.88 billion yuan, down 5.46% year-on-year, while net profit was 821 million yuan, up 4.52% [4]. - The decrease in revenue was attributed to the impact of centralized drug procurement policies [4]. - The basic and diluted earnings per share for the first three quarters were 0.95 yuan, a 26.67% increase year-on-year [2]. Research and Development - Fosun Pharma's R&D investment for the first three quarters of 2025 totaled 3.998 billion yuan, a 2.12% increase year-on-year, with R&D expenses of 2.73 billion yuan [4]. - In Q3 2025, R&D expenses were 1.013 billion yuan, a significant increase of 28.81% year-on-year, focusing on high-value pipelines [4]. Spin-off Plans - The company announced plans to spin off its subsidiary, Fosun Antigen, which focuses on vaccine development, for a listing on the Hong Kong Stock Exchange [1][2][8]. - Fosun Pharma has a history of successfully spinning off subsidiaries for financing, including the 2019 IPO of its subsidiary, Fuhong Hanlin, which raised 3.13 billion HKD [8]. Debt and Asset Management - Fosun Pharma is actively managing its debt, with short-term borrowings reaching 17.862 billion yuan and a total interest-bearing debt of 36.994 billion yuan [10]. - The company has been disposing of non-core assets to optimize its asset structure and improve cash flow, including the planned sale of Shanghai Clone for up to 1.256 billion yuan [9].

Core Insights - Fosun Pharma reported a revenue of 29.393 billion yuan for the first three quarters of 2025, a year-on-year decline of 4.91% [1] - The revenue from innovative drugs exceeded 6.7 billion yuan, showing a growth of 18.09% year-on-year [1] - The net profit attributable to shareholders reached 2.523 billion yuan, an increase of 25.5% year-on-year [1] Innovative Products - The company focuses on core treatment areas such as solid tumors, hematological tumors, and immune inflammation, enhancing its core technology platforms including antibodies, ADCs, cell therapy, and small molecules [1] - The innovative small molecule CDK4/6 inhibitor, Fovetisil Capsules, received approval for an additional indication in China for HR+/HER2- locally advanced or metastatic breast cancer [1] - The self-developed drug, Dushuan Antibody Injection (HLX14), was approved for sale in the US and EU, marking it as the first domestically produced Dushuan antibody approved overseas [1] R&D Investments - Fosun Pharma's R&D investment totaled 3.998 billion yuan in the first three quarters, a year-on-year increase of 2.12%, with R&D expenses amounting to 2.730 billion yuan [2] - In Q3, R&D expenses reached 1.013 billion yuan, up 28.81% year-on-year, primarily invested in innovative platforms including nuclear medicine and cell therapy [2] - The clinical trials for the innovative PD-1 inhibitor, Surulizumab, are progressing smoothly, with a Phase III trial for gastric cancer achieving its primary endpoint [2] New Business Initiatives - In September, Fosun Pharma established a nuclear medicine business platform, Xingrui Jingxuan, aiming to develop integrated diagnostic and therapeutic nuclear medicine products in the pan-tumor field [3]

Core Viewpoint - Shanghai Fosun Pharmaceutical (Group) Co., Ltd. reported a revenue decline of 4.91% year-on-year for the first three quarters of 2025, totaling CNY 29.393 billion, while innovative drug revenue increased by 18.09% to over CNY 6.7 billion, indicating a strategic focus on innovation-driven growth [1][2]. Group 1: Financial Performance - For the first three quarters of 2025, Fosun Pharmaceutical achieved a total revenue of CNY 29.393 billion, reflecting a year-on-year decrease of 4.91% [1]. - Innovative drug revenue reached over CNY 6.7 billion, marking an 18.09% increase compared to the previous year [1]. Group 2: Innovation and Product Development - In Q3 2025, several self-developed innovative drugs made significant progress in mainstream markets, including the approval of a new indication for the small molecule CDK4/6 inhibitor, Fuzhengning, for specific breast cancer patients in China [2]. - The self-developed Dushuan injection received approval in the U.S. and EU, becoming the first domestically developed Dushuan to be approved overseas, covering all indications previously approved for the original drug [2]. - The CAR-T product, Brexucabtagene autoleucel, had its drug registration application accepted by the National Medical Products Administration in September 2025 for treating adult patients with relapsed or refractory B-cell acute lymphoblastic leukemia [2]. Group 3: Strategic Initiatives - On October 28, 2025, Fosun Pharmaceutical announced plans to spin off its vaccine business platform for a listing on the Hong Kong Stock Exchange to enhance its competitive edge in the vaccine sector [3]. - The company signed a partnership agreement to invest CNY 100 million in a target fund focusing on strategic emerging sectors, including chemical innovation drugs, biopharmaceuticals, high-end medical devices, and traditional Chinese medicine [3]. - Fosun Pharmaceutical is establishing a nuclear medicine platform, Xingrui Jingxuan, to develop integrated diagnostic and therapeutic nuclear medicine products, emphasizing its commitment to innovation and resource optimization [3].