Financial Performance - H1 2025 revenue from continuing operations increased by 24.2% year-over-year[13] - Adjusted non-IFRS net profit for H1 2025 increased by 44.4% year-over-year[13] - Backlog for continuing operations as of June 30, 2025, increased by 37.2% year-over-year[15, 16] - H1 2025 adjusted non-IFRS net profit margin reached 30.4%[14] - H1 2025 operating cash flow increased by 49.1% year-over-year to RMB 7.07 billion[48] Segment Performance - WuXi Chemistry H1 2025 revenue increased by 33.5% year-over-year to RMB 16.30 billion[24, 27] - WuXi Chemistry H1 adjusted non-IFRS gross profit margin improved by 5.2 percentage points year-over-year to 49.0%[25, 27] - WuXi Chemistry TIDES revenue grew 141.6% year-over-year to RMB 5.03 billion[24, 27] - WuXi Testing H1 2025 revenue decreased by 1.2% year-over-year to RMB 2.69 billion[30, 31] - WuXi Biology H1 2025 revenue increased by 7.1% year-over-year to RMB 1.25 billion[35, 37] Company Outlook - The company raised its full-year 2025 revenue growth guidance for continuing operations to 13-17%, targeting total revenue of RMB 42.5-43.5 billion[54]

The information contained in this presentation is provided for informational purpose only and should not be relied upon for the purpose of making any investment or for any other purpose. Some of the information used in preparing this presentation was obtained from third parties or public sources. The information contained in this presentation has not been independently verified. No representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, reasonablen ...

Sales Performance - Group sales declined by 2%[7] - APG's sales decreased mainly due to an unfavorable customer mix in China and competitive pricing pressures[7] - IPG's sales improved slightly amid mixed regional market and customer dynamics[7] - Asia-Pacific IPG sales declined due to keen price competition and customer program delays[19, 22] - EMEA IPG sales were boosted by new launches and replenishment orders[20] - Americas IPG sales faced softer demand in some product segments, partially offset by increased sales for high-precision piezo motors[20] Automotive Products Group (APG) - APG's sales were negatively impacted by reduced demand for non-domestic car brands in China, partially offset by accelerating sales to domestic car brands[11] - APG faced market-driven pricing adjustments[11] - APG experienced phasing out of certain programs[11] Industry Products Group (IPG) - IPG and its customers faced keen price competition and certain customers delayed programs[22] Joint Ventures - Joint venture agreements signed with Shanghai Mechanical & Electrical Industrial Co, Ltd (SMEIC) on 16 July, 2025[27] - Johnson Electric supplies components to the Shenzhen joint venture, including motors and planetary reducers[27] Exchange Rates - CAD weakened against the USD by 1.2%[33] - CNY weakened against the USD by 1.2%[33] - EUR strengthened against the USD by 5.2%[33]

Financial Performance & Disposals - CSI made sales of approximately HK$1.55 billion and had unrecognized contracted sales commitments of approximately HK$1.22 billion for FY2025 [9] - Key disposals were completed in FY2025, including car parking spaces in Tuen Mun, units at Broadway Center (CSI-60%) in Macau, and units at Dukes Place (CSI-60%) in Jardine's Lookout [10] - Pre-sales achieved up to June 2025 are expected to generate approximately HK$2.57 billion in future bookings [10] - Gross revenue from property business decreased to HK$521 million in FY25 from HK$1,579 million in FY24 [11] - The company reported a loss attributable to equity holders of HK$1.692 billion in FY25, primarily due to adverse changes in the fair value of JV properties [11] Balance Sheet & Debt Management - Total assets decreased from HK$26.238 billion in FY24 to HK$22.325 billion in FY25 [12] - Bank loans decreased from approximately HK$7.9 billion in FY24 to approximately HK$6.9 billion in FY25 [17] - The company successfully refinanced a US$296 million bond due in July 2025 with a new US$150 million bond issue at 10.5% [21] - A strategic rights issue closed in April 2025 brought in approximately HK$1.49 billion, and a private bond issued to Gaw Capital added approximately HK$500 million to enhance cash liquidity [12] Strategic Initiatives - A strategic funding and partnership proposal was announced, including a rights issue (approximately HK$1.5 billion) and bond issuance (HK$500 million), with Gaw Capital becoming a long-term strategic investor [24] - The company commits to a sale target of at least HK$9 billion in sales in the next 4 years [24, 38] - The company has a robust pipeline of quality assets to support the HK$9 billion+ active asset disposal program, with over HK$2.57 billion in pre-sales achieved up to June 2025 [38, 40]

Innovent Biologics Overview - Innovent Biologics has grown into a China-leading biopharmaceutical company with 16 commercial products and 21 clinical pipeline products[9,10] - Innovent's total revenue exceeded RMB9.4 billion in 2024, marking a 55% increase from the previous year[26,27] - Product revenue is projected to achieve RMB20 billion in 2027[38] Oncology Drug Development in China - China accounted for 35% of the global oncology trials in 2023, exceeding the US[172] - The share of first-approved innovative drugs developed by China rose significantly from 4% in 2015 to 38% in 2024[175] - In the first half of 2025, Chinese pharmaceutical companies executed 20 oncology out-licensing deals totaling nearly $30 billion, with ADCs remaining a key focus[185,187] IBI363 (PD-1/IL-2 α-bias) Clinical Progress - IBI363 is a global first-in-class next-generation IO therapy designed to selectively activate and expand tumor-specific T cells[158,159] - In IO-resistant squamous cell lung cancer, IBI363 at 3 mg/kg showed a confirmed ORR of 36.7% and a median PFS of 9.3 months[160] - In IO-resistant melanoma, IBI363 showed an ORR of 26.7% and a median DoR of 14 months[531,533] - In 3L+ CRC, IBI363 monotherapy achieved a median OS of 16.1 months, and IBI363 + Bevacizumab combination therapy showed a cORR of 15.1%[647,650] ADC Developments in Gastrointestinal Cancers - HER2 ADCs demonstrated remarkable efficacy in HER2 3+ CRC, with T-DXd showing a 57.5% ORR and IBI354 showing a 54% confirmed ORR in earlier-phase trials[203,204] - IBI343, a CLDN18.2 ADC, showed promising efficacy in 3L gastric cancer, with the 6 mg/kg group achieving an ORR of 36.7% and a median PFS of 6.8 months[214,217] - In advanced pancreatic cancer, IBI343 showed an ORR of 22.7% in CLDN18.2-high (IHC ≥60%) population, with mPFS of 5.4 months and mOS of 9.1 months[220,224]

Dorzagliatin Overview - Dorzagliatin is a first-in-class drug with global rights, targeting the underlying cause of Type 2 Diabetes (T2D) by addressing impaired glucose homeostasis[13] - As of December 31, 2019, Hua Medicine had RMB 1.1 billion in cash[13] - The global T2D population is 453 million, with 120 million in China alone, representing a massive market opportunity[13] Clinical Trial Results - In a Phase III monotherapy trial, dorzagliatin achieved the primary endpoint, demonstrating a significant and sustainable reduction in HbA1c safely[13] - In the HMM0301 Phase III trial, the dorzagliatin-treated group showed a 1.07% HbA1c reduction from a baseline of 8.35%, compared to a 0.5% reduction from a baseline of 8.37% in the placebo group (p < 0.0001)[62] - 45.4% of patients treated with dorzagliatin achieved a target HbA1c level of 7.0% or less at 24 weeks, compared to 21.5% of patients treated with placebo (p < 0.0001)[62] - Patients treated with dorzagliatin achieved a homeostasis control rate of 45.0% compared with 21.5% in the placebo group (p < 0.0001)[62] Combination Therapy - A Phase I trial (HMM0111) showed that dorzagliatin combined with sitagliptin (DPP-4 inhibitor) resulted in a 33% reduction (p<0.01) in postprandial glucose level AUEC (0-4hr)[74] - A Phase I trial (HMM0112) showed that dorzagliatin combined with empagliflozin (SGLT-2 inhibitor) resulted in a 38% reduction (p<0.0001) in postprandial glucose level AUEC (0-4hr)[79] China Market - China has the largest diabetes population globally, with approximately 125 million T2D patients[232] - The diagnosis rate in China was 50.4% in 2018 and is expected to rise to 82.2% in 2028[235] - The China anti-diabetics market is projected to grow from RMB 57.3 billion in 2018 to RMB 135.6 billion in 2025, with an expected CAGR of 11.7% from 2018 to 2028[246]

Financial Performance & Growth - IMAX reported a 40% growth in global box office market share from 2018 through 1Q25[11] - The company's 1Q25 Total Adjusted EBITDA margin was 43%[11], exceeding the FY25 guidance of 40%+[96] - IMAX projects over $12 billion in IMAX Box Office revenue for 2025[36] - The company has repurchased 19% of shares outstanding since 2020[11, 124] Network Expansion & Backlog - IMAX's global network scale includes 1,738 systems[11] across 89 countries and territories[11, 38] - The company has a contracted IMAX system backlog of 516 systems[11, 42] - International markets (excluding China) have seen over 27% network growth since pre-pandemic (year-end 2019 to March 31, 2025)[14] Content & Strategy - IMAX is increasing its connection with studios and filmmakers, expecting a record 11 Filmed For IMAX (FFI) Hollywood titles in 2025[11] - The company expects over 60 local language titles in 2025, demonstrating a 27% CAGR from 2019-2024[86, 87] - IMAX is partnering with streaming platforms to eventize and launch content[75] Financial Position - As of March 31, 2025, IMAX has $4015 million in total liquidity[117] - The company's net debt to TTM Total Adjusted EBITDA is 128x[119]

Financial Performance - GenScript Life Science revenue increased by 26.4% year-over-year[20] - Biologics CDMO revenue increased by 33.6% year-over-year, achieving historical breakeven financial goal[20] - Cell Therapy revenue increased by 101.5% year-over-year, with backlog up 108.4% year-over-year[21] - In FY21, external revenue reached $424.7 million, a 30.8% year-over-year increase[23] - Adjusted net loss of Cell Therapy was $(354.6) million in 2021 compared to $(213.3) million in 2020[23] - Adjusted net profit of Non-Cell Therapy was $50.2 million in 2021, an 18.1% year-over-year increase[23] Investments - R&D expenses for Non-Cell Therapy were $36.3 million and for Cell Therapy were $49.9 million in 2021[25], representing a 36.1% year-over-year increase in total R&D investment[24] - Capital expenditure for Cell Therapy was $47.1 million, for Biologics CDMO was $34.5 million, and for Life Science & Other was $55.8 million in 2021[28] Business Segments - Legend Biotech, a cell therapy company, received an upfront payment of $350 million and $300 million in milestone payments from Janssen[61]

Company Overview - Antengene is focused on bringing transformative medicines to patients globally, with commercialization in 6 APAC markets and 9 clinical-stage assets[12, 13] - The company raised US$21 million in Series A, US$120 million in Series B, US$97 million in Series C, and US$367 million in its Hong Kong IPO[21] - As of June 30, 2023, Antengene had RMB 1,322 million in cash and bank balances[21, 225] Pipeline Highlights - For CPI-naïve relapsed/metastatic cervical cancer, ATG-008 (Onatasertib) showed an ORR of 53.3% (16/30) and mPFS of 8.41 months[15] - In CPI-treated relapsed/metastatic cervical cancer, ATG-008 (Onatasertib) showed an ORR of 29.4% (5/17)[15] - In treatment-naïve myelofibrosis patients, Selinexor 60 mg + Ruxolitinib achieved SVR35 of 83.3% (10/12) at week 12 and 91.7% (11/12) at week 24 in efficacy evaluable patients[30] - In TP53 Wild-type Endometrial Cancer Patients, Selinexor monotherapy showed mPFS of 27.4 months compared to 5.2 months for placebo, with HR: 0.42[32] Commercial Performance & Partnerships - XPOVIO® achieved RMB 72.0 million in revenue in 2023 1H, a 33.5% increase compared to RMB 54.0 million in 2022 1H[15] - Antengene entered into a commercialization partnership with Hansoh Pharma in the Mainland of China on August 11th[15] - XPOVIO® has covered 130 DTP pharmacies across the Mainland of China and attained 46 urban-customized commercial health insurance listings (Huiminbao) covering over 55 million people[202] - From commercial launch in May 2022 to June 30th, 2023, XPOVIO® accumulated revenue of RMB 222.1 Million[202]

Antengene Pipeline Overview - Antengene is developing a diverse pipeline of oncology and autoimmune programs, including T cell engagers and other novel therapies[9, 10] - The company has partnerships and clinical collaborations to advance its programs[10] - Antengene has USD 125 million in cash and bank balances to advance pipeline development and strategic initiatives over the next 3 years[11] ATG-022 (Claudin 18.2 ADC) - ATG-022 demonstrates efficacy across all CLDN18.2 expression levels in gastric cancer, including low and ultra-low expressors[15, 23, 29] - In CLDN18.2 moderate to high expressing GC (IHC 2+ > 20%), ATG-022 showed an ORR of 40% (12/30) and a DCR of 90% (27/30)[10, 31] - In CLDN18.2 low and ultra-low expressing GC (IHC 2+ ≤ 20%), ATG-022 showed an ORR of 30% (3/10) and a DCR of 50% (5/10)[10, 31] - One patient with complete response (CR) has demonstrated durable CR for over 21 months[32] ATG-037 (CD73 Inhibitor) - The immuno-oncology (IO) market is estimated to be over USD 140 billion in 2028, including IO-resistant tumors[44] - In CPI-resistant melanoma, ATG-037 in combination with pembrolizumab showed an ORR of 36.4% (4/11) and a DCR of 100% (11/11)[10] - In CPI-resistant NSCLC, ATG-037 in combination with pembrolizumab showed an ORR of 22.2% (2/9) and a DCR of 67% (6/9)[10] AnTenGager T Cell Engager (TCE) Platform - AnTenGager is a novel second-generation "2+1" TCE platform with steric hindrance-masking technology[65] - ATG-201 (CD19 x CD3) is a TCE being developed for B cell-related autoimmune diseases, with IND targeting 2025 H2[10, 83]