香港聯合交易所有限公司及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 不發表任何聲明，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依賴該等內容而引致的任何損 失承擔任何責任。 Knature Biopharmaceutical Co., Ltd. 康 諾 生 物 製 藥 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） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及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、本公司的獨家保薦人、整體協調人、顧問及包銷團成員表示同意： 於本公司招股章程根據香港法例第32章《公司（清盤及雜項條文）條例》送呈香港公司註冊處處長登記前，不會向 香港公眾人士提出要約或邀請。 倘在適當時候向香港公眾人士提出要約或邀請，有意投資者務請僅依據向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。該文件的文本將於發售期內向公眾人士派發。 ...

Company Overview - Kangnuo Biopharmaceuticals is a biopharmaceutical company focused on the research, development, production, and commercialization of mitochondrial medicine and health products [2] - The company aims to address diseases caused by mitochondrial dysfunction, particularly in cardiovascular diseases, neurodegenerative diseases, reproductive health, and aging [2] - Kangnuo Biopharmaceuticals employs an integrated approach of "testing - intervention - assessment - re-intervention" to provide scientific solutions for extending healthy lifespan [2] Product Portfolio - The company has marketed and sold 20 drugs, generating revenue from these sales [2] - Its flagship drug, Enai Di (NAD+ injection), is the only NAD+ therapeutic drug approved both nationally and globally, establishing the company's leadership in the mitochondrial drug industry [2] - Other major commercialized drugs include Qianrongmei (Hyaluronidase injection), Tianshu (Kallikrein injection), and Sodium Nitroprusside injection, along with 16 generic drugs covering various therapeutic areas [3] Financial Performance - The company reported revenues of approximately 303 million RMB for the fiscal year 2023, 240 million RMB for 2024, and 238 million RMB for the nine months ending September 30, 2025 [4] - Profit and total comprehensive income for the same periods were approximately 79.5 million RMB, 33.9 million RMB, and 53.4 million RMB respectively [6] - The gross profit margins for 2023, 2024, and the nine months ending September 30, 2025, were approximately 87.4%, 83.4%, and 87.4% [8] Industry Overview - Mitochondrial dysfunction is increasingly recognized as a common pathological mechanism for aging-related diseases, including cardiovascular diseases, neurodegenerative diseases, metabolic diseases, and immune aging [10] - The market size for mitochondrial medicine products in China is projected to grow from 9.5 billion RMB in 2020 to 17.9 billion RMB in 2024, with a compound annual growth rate (CAGR) of 17.1% [10] - By 2035, the market size is expected to reach 308.1 billion RMB, with a CAGR of 29.5% from 2024 to 2035 [10]

Group 1 - The core business of the company is focused on addressing diseases caused by mitochondrial dysfunction, utilizing NAD+ in areas such as cardiovascular diseases, neurodegenerative diseases, reproductive health, and aging [1] - The flagship commercial drug of the company is Enadi (injectable coenzyme I), alongside other products including Qianrongmei, Tianshu, injectable nitroprusside, and 16 generic drugs covering four major therapeutic areas [1] - As of January 16, 2026, the company has 20 drugs in the production stage [1] Group 2 - The market size for mitochondrial medicine products in China is expected to grow rapidly, projected to increase from 17.9 billion RMB in 2024 to 308.1 billion RMB by 2035, with a compound annual growth rate of 29.5% [1]

Company Overview - Kangnuo Biopharmaceuticals is a biopharmaceutical company focused on the research, development, production, and commercialization of mitochondrial medicine and health products [2] - The company aims to address diseases caused by mitochondrial dysfunction, particularly in cardiovascular diseases, neurodegenerative diseases, reproductive health, and aging [2] - Kangnuo Biopharmaceuticals employs an integrated approach of "testing - intervention - assessment - re-intervention" to provide scientific solutions for extending healthy lifespan [2] - The flagship mitochondrial drug, Enai Di® (NAD+ injection), is the only NAD+ therapeutic drug approved both nationally and globally, establishing the company's leadership in the mitochondrial drug industry [2] Product Portfolio - The company has marketed and sold 20 drugs, including Enai Di® (NAD+ injection), Qianrongmei® (hyaluronidase injection), Tianshu® (kallikrein injection), and sodium nitroprusside injection [3] - In addition to these four main drugs, Kangnuo Biopharmaceuticals also sells 16 generic drugs covering four major therapeutic areas: digestive system, respiratory system, blood system, and nervous system [3] Financial Performance - The company reported revenues of approximately 303 million RMB, 240 million RMB, and 238 million RMB for the fiscal years ending in 2023, 2024, and the nine months ending September 30, 2025, respectively [4] - The total profit and comprehensive income for the same periods were approximately 79.5 million RMB, 33.9 million RMB, and 53.4 million RMB [6] - The gross profit margins for 2023, 2024, and the nine months ending September 30, 2025, were approximately 87.4%, 83.4%, and 87.4% [8] Industry Overview - Mitochondrial dysfunction is increasingly recognized as a common pathological mechanism for aging-related diseases, including cardiovascular diseases, neurodegenerative diseases, metabolic diseases, and immune aging [10] - The market size for mitochondrial medicine products in China is projected to grow from 9.5 billion RMB in 2020 to 17.9 billion RMB in 2024, with a compound annual growth rate (CAGR) of 17.1% [10] - It is expected that the market size will reach 308.1 billion RMB by 2035, with a CAGR of 29.5% from 2024 to 2035 [10]

香港聯合交易所有限公司及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 不發表任何聲明，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依賴該等內容而引致的任何損 失承擔任何責任。 Knature Biopharmaceutical Co., Ltd. 康 諾 生 物 製 藥 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） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及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、本公司的獨家保薦人、整體協調人、顧問及包銷團成員表示同意： 於本公司招股章程根據香港法例第32章《公司（清盤及雜項條文）條例》送呈香港公司註冊處處長登記前，不會向 香港公眾人士提出要約或邀請。 倘在適當時候向香港公眾人士提出要約或邀請，有意投資者務請僅依據向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。該文件的文本將於發售期內向公眾人士派發。 ...

香港聯合交易所有限公司及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 不發表任何聲明，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依賴該等內容而引致的任何損 失承擔任何責任。 Knature Biopharmaceutical Co., Ltd. 康 諾 生 物 製 藥 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） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及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、本公司的獨家保薦人、整體協調人、顧問及包銷團成員表示同意： 於本公司招股章程根據香港法例第32章《公司（清盤及雜項條文）條例》送呈香港公司註冊處處長登記前，不會向 香港公眾人士提出要約或邀請。 倘在適當時候向香港公眾人士提出要約或邀請，有意投資者務請僅依據向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。該文件的文本將於發售期內向公眾人士派發。 ...