--- page 1 ---
1
Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock
Exchange ”) and Hong Kong Securities Clearing Company Limited ( “HKSCC ”) take no responsibility for the contents
of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability
whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this
announcement.
Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as
those defined in the prospectus dated Tuesday, June 4, 2024 (the “Prospectus ”) issued by QuantumPharm Inc. (the
“Company ”).
This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase
or subscribe for any securities. This announcement is not a prospectus. Potential investors should read the Prospectus
for detailed information about the Global Offering described below before deciding whether or not to invest in the
Shares thereby being offered. Any investment decision in relation to the Offer Shares should be taken solely in reliance
on the information in the Prospectus.
This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States
(including its territories and possessions, any state of the United States and the District of Columbia). This
announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities
in the United States or in any other jurisdictions. The securities mentioned herein have not been, and will not be,
registered under the United States Securities Act of 1933 as amended from time to time (the “U.S. Securities Act ”) or
securities law of any state or other jurisdiction of the United States. The securities may not be offered, sold, pledged
or otherwise transferred within the United States except pursuant to an exemption from the registration requirements
of the U.S. Securities Act and in compliance with any applicable state securities laws. There will be no public offer
of securities in the United States. The securities are sold solely (1) to qualified institutional buyers as defined in Rule
144A under the U.S. Securities Act pursuant to an exemption from registration under the U.S. Securities Act and (2)
outside the United States in compliance with Regulation S under the U.S. Securities Act.
In connection with the Global Offering, CLSA Limited, as stabilizing manager (the “Stabilizing Manager ”) (or its
affiliates or any person acting for it), on behalf of the Underwriters, may over-allocate or effect transactions with
a view to stabilizing or supporting the market price of the Shares at a level higher than that which might otherwise
prevail in an open market for a limited period after the Listing Date. However, there is no obligation on the Stabilizing
Manager, its affiliates or any person acting for it, to conduct any such stabilizing action, which, if commenced, will be
conducted at the sole and absolute discretion of the Stabilizing Manager, its affiliates or any person acting for it, and
may be discontinued at any time. Any such stabilizing activity is required to be brought to an end on the 30th day after
the last date for lodging applications under the Hong Kong Public Offering. Such stabilization action, if commenced,
may be effected in all jurisdictions where it is permissible to do so, in each case in compliance with all applicable
laws, rules and regulatory requirements, including the Securities and Futures (Price Stabilizing) Rules (Chapter 571W
of the Laws of Hong Kong), as amended, made under the Securities and Futures Ordinance (Chapter. 571 of the Laws
of Hong Kong).
Potential investors should be aware that stabilizing actions cannot be taken to support the price of the Shares for
longer than the stabilization period which will begin on the Listing Date and is expected to expire on the 30th day after
the last day for lodging applications under the Hong Kong Public Offering (which is Sunday, July 7, 2024). After this
date, no further stabilizing action may be taken, and demand for the Shares and therefore the price of the Shares could
fall.
Potential investors of the Offer Shares should note that the Sole Sponsor and Overall Coordinators (for themselves and
on behalf of the Hong Kong Underwriters) shall be entitled to terminate the Hong Kong Underwriting Agreement with
immediate effect upon the occurrence of any of the events set out in the section headed “Underwriting {  Hong Kong
Underwriting Arrangements {  Hong Kong Public Offering {  Grounds for Termination ” in the Prospectus at any time
prior to 8:00 a.m. (Hong Kong time) on the Listing Date (which is currently expected to be on Thursday, June 13,
2024).
In connection with the Global Offering, we expect to grant the Over-allotment Option to the International Underwriters,
exercisable by the Overall Coordinators at their sole and absolute discretion on behalf of the International Underwriters
at any time from the Listing Date until Sunday, July 7, 2024, being the 30th day after the last day for lodging
applications under the Hong Kong Public Offering. Pursuant to the Over-allotment Option, the Overall Coordinators
will have the right to require our Company to allot and issue, at the Offer Price, up to an aggregate of additional
28,105,000 Shares, representing in aggregate approximately 15% of the number of the Offer Shares initially available
under the Global Offering to cover over-allocations in the International Offering, if any.


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2
QuantumPharm Inc.
(Incorporated in the Cayman Islands with limited liability)
GLOBAL OFFERING
Number of Offer Shares under
the Global Offering
: 187,373,000 Shares (subject to the Over-
allotment Option)
Number of Hong Kong Offer Shares : 37,475,000 Shares (as adjusted after
reallocation)
Number of International Offer Shares : 149,898,000 Shares (as adjusted after
reallocation and subject to the Over-
Allotment Option)
Final Offer Price : HK$5.28 per Offer Share, plus brokerage
of 1.0%, SFC transaction levy of
0.0027%, Hong Kong Stock Exchange
trading fee of 0.00565% and AFRC
transaction levy of 0.00015%
Nominal value : US$0.00001 per Share
Stock code : 2228
Sole Sponsor, Overall Coordinator, Joint Global Coordinator
Joint Bookrunner and Joint Lead Manager
Overall Coordinators, Joint Global Coordinators, Joint Bookrunners
and Joint Lead Managers
Sole Financial Advisor
Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers
Joint Bookrunners and Joint Lead Managers
Joint Lead Managers


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QUANTUMPHARM INC.
ANNOUNCEMENT OF FINAL OFFER PRICE AND
ALLOTMENT RESULTS
Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings
as those defined in the prospectus dated June 4, 2024 (the “Prospectus”) issued by QuantumPharm Inc. (the
“Company”).



SUMMARY
Company information
Stock code 2228
Stock short name QUANTUMPH-P
Dealings commencement date June 13, 2024*
*see note at the end of the announcement

Price Information
Final Offer Price HK$5.28
Offer Price Range HK$5.03 - HK$6.03
Offer Price Adjustment exercised No

Offer Shares and Share Capital
Number of Offer Shares 187,373,000
Number of Offer Shares in Hong Kong Public Offering (after
reallocation and assuming the Over-allotment Option is not
exercised)
37,475,000
Number of offer shares in International Offer (after
reallocation and assuming the Over-allotment Option is not
exercised)
149,898,000
Number of issued shares upon Listing (Assuming the Over-
allotment Option is not exercised)
3,406,772,761

The number of offer shares above is determined after taking into account the additional shares issued under
the following Offer Size Adjustment Option

Over-allocation
No. of Offer Shares over-allocated 28,105,000
Such over-allocation will be settled by using Shares to be borrowed under the Stock Borrowing Agreement
between the Stabilizing Manager and QuantumPharm Holdings. Such borrowed Shares may be covered
by exercising the Over-allotment Option in full or in part  or by making purchases in the secondary
market at prices that do not exceed the Offer Price or a combination of these means. In the event the
Over-allotment Option is exercised, an announcement will be made on the Stock Exchange’s website.

Proceeds
Gross proceeds (Note) HK$ 989.33 million
Offer Size Adjustment Option (Upsize option)
Number of additional shares issued under the option  -
- Public Offer  -
- International Offer  -


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Less: Estimated listing expenses payable based on Final Offer
Price
HK$ (93.2) million
Net proceeds HK$ 896.13 million





ALLOTMENT RESULTS DETAILS
HONG KONG PUBLIC OFFERING


No. of valid applications 19,602
No. of successful applications 10,448
Subscription level 103.35 times
Claw-back triggered Yes
No. of Offer Shares initially available under the Hong Kong Public
Offering
9,369,000
No. of Offer Shares reallocated from the International Offering
(claw- back)
28,106,000
Final no. of Offer Shares under the Hong Kong Public Offering
(after reallocation)
37,475,000
% of Offer Shares under the Hong Kong Public Offering to the
Global Offering (after reallocation)
20%

Note: For details of the final allocation of shares to the Hong Kong Public Offering, investors can refer to
www.hkeipo.hk/IPOResult to perform a search by name or identification number or www.hkeipo.hk/IPOResult
for the full list of allottees.
INTERNATIONAL OFFERING


No. of placees 154
Subscription Level 2.13 times
No. of Offer Shares initially available under the International
Offering
178,004,000
No. of Offer Shares reallocated to the Hong Kong Public Offering
(claw-back)
28,106,000
Final no. of Offer Shares under the International Offering (after
reallocation)
149,898,000
% of Offer Shares under the International Offering to the Global
Offering (after reallocation)
80%

The Directors confirm that, to the best of their knowledge, information and belief, save for a waiver from strict
compliance with Rule 10.04 of the Listing Rules and a consent under paragraph 5(2) of Appendix F1 to the
Listing Rules (the “Placing Guidelines”) granted by the Stock Exchange to permit the Company to allocate
certain Offer Shares in the International Offering to close associates of certain existing shareholders, (i) none
of the Offer Shares subscribed by the placees and the public have been financed directly or indirectly by the
Company, any of the Directors, chief executive of the Company, substantial shareholders, existing
shareholders of the Company or any of its subsidiaries or their respective cl ose associates; and (ii) none of
the placees and the public who have purchased the Offer Shares are accustomed to taking instructions from
the Company, any of the Directors, chief executive of the Company, substantial shareholders, existing
Note: Gross proceeds refers to the amount to which the issuer is entitled to receive, assuming the Over-
allotment Option is not exercised. For details of the use of proceeds, please refer to the Prospectus dated
June 4, 2024.


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shareholders of the Company or any of its subsidiaries or their  respective close associates in relation to the
acquisition, disposal, voting or other disposition of Shares registered in his/her/its name or otherwise held by
him/her/it.

The placees in the International Offering include the following:
Cornerstone Investors







Investor




No. of Offer
Shares
allocated



% of
Offer
Shares
(assuming
the Over-
allotment
Option is
not
exercised)
% of total
issued
share
capital
after the
Global
Offering
(assuming
the Over-
allotment
Option is
not
exercised)


Existing
shareholders or
their
close
associates
Successful Lotus Limited 7,575,000 4.04% 0.22% No
IntelliMed One Investment Limited
Note 1
5,163,000 2.76% 0.15% No
Mammoth Medical Solutions 11,700,000  6.24% 0.34% No
Begonia No. 1 LPF
(海棠壹號有限合夥基金)
17,573,000  9.38% 0.52% No
Prof. Bradley Lether Pentelute 1,464,000 0.78% 0.04% No
Ginkgo Capital Global Fund SPC—
Ginkgo Capital Global Fund I SP
Note 2
14,644,000  7.82% 0.43% No
Biocytogen Pharmaceuticals
(Beijing) Co., Ltd.
(百奧賽圖(北京)醫藥科技股份有
限公司)
2,017,000 1.08% 0.06% No
FaaS Capital Longevity Limited 3,787,000 2.02% 0.11% No
Total 63,923,000  34.12% 1.88%
Notes:

(1) In addition to the Offer Shares subscribed for as a cornerstone investor of the Company, IntelliMed One Investment
Limited (“IntelliMed”), together with its close associate, TruMed Healthcare Master Fund (“TruMed”) were
allocated further Offer Shares as pl acees. Under the International Offering, IntelliMed and TruMed  were allocated
20,413,000 Offer Shares in aggregate. Please refer to the section headed “International Offering - Allotees with
waivers/consents obtained” for further details. Only the Offer Shares it subscribed for as a cornerstone investor are


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subject to lock -up as indicated below. For details, please refer to the section headed “Lock -up Undertakings –
Cornerstone Investors” below.
(2) A close associate of Ginkgo Capital Global Fund SPC—Ginkgo Capital Global Fund I SP (“Ginkgo Fund I”), Ginkgo
Capital Global Fund SPC—Ginkgo Capital Global Fund II SP (“Ginkgo Fund II”), was allocated Offer Shares as a
placee. Under the International Offering, Ginkgo Fund I and Ginkgo Fund II were allocated 23,244,000 Offer Shares
in aggregate. Please refer to the section headed “International Offering - Allotees with waivers/consents obtained”
for further details.


Allotees with waivers/consents obtained








Investor




No. of
Offer
Shares
allocated
% of Offer
Shares
(assuming the
Over-
allotment
Option is not
exercised)
% of total
issued share
capital after the
Global Offering
(assuming the
Over-allotment
Option is not
exercised)




Relationship
Liu Chong / 劉翀 1,800,000 0.96% 0.05% Liu Chong is a close
associate of an existing
shareholder of the
Company. Note 1

Hermitage Global
Limited
1,500,000 0.80% 0.04% Hermitage Global
Limited is a close
associate of an existing
shareholder of the
Company. Note 2

Mirae Asset
Securities (HK)
Limited (and its close
associate)
1,680,000 0.90% 0.05% Mirae Asset Securities
(HK) Limited is a close
associate of an existing
shareholder of the
Company. Note 3

IntelliMed One
Investment Limited
13,800,000 7.36% 0.41% IntelliMed is a
cornerstone investor of
the Company. Note 4
TruMed Healthcare
Master Fund
1,450,000 0.77% 0.04% TruMed Healthcare
Master Fund is a close
associate of IntelliMed,
a cornerstone investor
of the Company. Note 4
Ginkgo Capital
Global Fund SPC—
Ginkgo Capital
Global Fund II SP
8,600,000 4.59% 0.25% Ginkgo Capital Global
Fund SPC—Ginkgo
Capital Global Fund II
SP is a close associate
of Ginkgo Capital
Global Fund SPC—
Ginkgo Capital Global
Fund I SP, a
cornerstone investor of


--- page 7 ---
the Company. Note 5
Total  28,830,000 15.39% 0.85%
Notes:

(1) Liu Chong is a close associate of Yael Capital Partners I L.P., an existing shareholder of the Company which
will hold approximately 3.44% of the total issued Shares of the Company immediately following the Global
Offering (assuming the Over-allotment Option is not exercised). The Company has applied to the Stock Exchange
for, and the Stock Exchange has granted, a waiver from strict compliance with Rule 10.04 of the Listing Rules
and its consent under paragraph 5(2) of the Placing Guideli nes to permit the Company to allocate such Offer
Shares in the International Offering to Liu Chong. The allocation of Offer Shares to Liu Chong is in compliance
with all the conditions under the waiver and consent granted by the Stock Exchange. For details , please refer to
the section headed “Others / Additional Information” below.
(2) Hermitage Global Limited is a close associate of Hermitage Galaxy Fund SPC for and on behalf of Hermitage
Fund Two SP, an existing Shareholder of the Company which will hold appr oximately 1.30% of the total issued
Shares of the Company immediately following the Global Offering (assuming the Over -allotment Option is not
exercised). The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a waiver
from strict compliance with Rule 10.04 of the Listing Rules and its consent under paragraph 5(2) of the Placing
Guidelines to permit the Company to allocate such Offer Shares in the International Offering to Hermitage Global
Limited. The allocation of Offer Sha res to Hermitage Global Limited is in compliance with all the conditions
under the waiver and consent granted by the Stock Exchange. For details, please refer to the section headed
“Others / Additional Information” below.
(3) Mirae Asset Securities (HK) Limited (and its close associate) are close associates of Mirae Asset New Economy
Fund L.P., an existing shareholder of the Company which will hold approximately 0.78% of the total issued
Shares of the Company immediately following the Global Offering (assuming the Over-allotment Option is not
exercised). Each of Mirae Asset Securities (HK) Limited and its close associate have been allocated 1,400,000
and 280,000 Offer Shares as a placee, respectively. The Company has applied to the Stock Exchange for, and the
Stock Exchange has granted, a waiver from strict compliance with Rule 10.04 of the Listing Rules and its consent
under paragraph 5(2) of the Placing Guidelines to permit the Company to allocate such Offer Shares in the
International Offering to Mirae Asset  Securities (HK) Limited and its close associate. The allocation of Offer
Shares to Mirae Asset Securities (HK) Limited (and its close associate) is in compliance with all the conditions
under the waiver and consent granted by the Stock Exchange. For detai ls, please refer to the section headed
“Others / Additional Information” below.
(4) IntelliMed is a cornerstone investor of the Company which will hold approximately 0.15% of the total issued
Shares of the Company immediately following the Global Offering (assuming the Over -allotment Option is not
exercised). IntelliMed, together with  TruMed, which is a close associate of IntelliMed , were allocated further
Offer Shares as placees . The Company has applied to the Stock Exchange for, and the Stock Exchange has
granted, a consent under Chapter 4.15 of the HKEX Guide to permit the Company to allocate such Offer Shares
in the International Offering to IntelliMed and TruMed. The allocation of Offer Shares to IntelliMed and TruMed
is in compliance with all the conditions under the consent granted by the Stock Exchange. For details, please
refer to the section headed “Others / Additional Information” below.
(5) Ginkgo Capital Global Fund SPC—Ginkgo Capital Global Fund II SP (“Ginkgo Fund II”) is a close associate
of Ginkgo Capital Global Fund SPC—Ginkgo Capital Global Fund I SP, a cornerstone investor of the Company
which will hold approximately 0.43% of the total issued Shares of the Company immediately following the Global
Offering (assuming the Over-allotment Option is not exercised). Ginkgo Fund II was allocated Offer Shares as a
placee. The Company has applied to the Stock Exchange for, and the S tock Exchange has granted, a consent
under Chapter 4.15 of the HKEX Guide to permit the Company to allocate such Offer Shares in the International
Offering to Ginkgo Fund II . The allocation of Offer Shares to Ginkgo Fund II  is in complian ce with all the
conditions under the consent granted by the Stock Exchange. For details, please refer to the section headed
“Others / Additional Information” below.


LOCK-UP UNDERTAKINGS
Key Persons (as defined under Rule 18C.14 of the Listing Rules)


--- page 8 ---
Name

Number of shares held
in the Company subject
to lock-up
undertakings upon
listing
% of shareholding in the
Company subject to
lock-up undertakings
upon listing (assuming
the Over-allotment
Option is not exercised)




Last day subject to the
lock-up undertakings
Wen Shuhao / 溫書豪 Note
1

222,126,400 Note 2 6.52% June 12, 2026 Note 10
81,093,362 Note 3 2.38% June 12, 2026 Note 10
22,000,000 Note 4 0.65% June 12, 2026 Note 10
Ma Jian / 馬健 Note 1

122,908,500 Note 5 3.61% June 12, 2026 Note 10
45,230,342 Note 6 1.33% June 12, 2026 Note 10
59,103,125 Note 7 1.73% June 12, 2026 Note 10
Lai Lipeng / 賴力鵬 Note 1 87,814,140 Note 8 2.58% June 12, 2026 Note 10
32,315,661 Note 9 0.95% June 12, 2026 Note 10
Subtotal  672,591,530 19.74%
Notes:

1. Each of Dr. Wen Shuhao (“Dr. Wen”), Dr. Ma Jian (“Dr. Ma”) and Dr. Lai Lipeng (“Dr. Lai”) is a Co-
founder and an executive Director of the Company.
2. Representing the Shares held by QuantumPharm Holdings Limited. QuantumPharm  Holdings Limited is
held as to 99% by WSH Family Holdings Limited, which is the holding vehicle of TMF (Cayman) Ltd. TMF
(Cayman) Ltd. is the trustee of the WSH Family Trust, a discretionary trust established by Dr. Wen as
settlor.
3. Representing the Shares  held by QuantumPharm Roc Holdings Limited (“ QuantumPharm Roc ”)
underlying outstanding options held by Dr. Wen. Such Shares will be transferred by QuantumPharm Roc
to Dr. Wen upon the exercise of the options and continue to be subject to the disposal restr ictions. For
further details, please refer to the sections headed “History, Development and Corporate Structure” and
“Underwriting” in the Prospectus.
4. Representing the Shares held by QuantumPharm Roc underlying outstanding options held by Dr. Jiang
Yide A lan (and his close associates) and Mr. Tam Man Hong. Such Shares will be transferred by
QuantumPharm Roc to them upon the exercise of the options and continue to be subject to the disposal
restrictions. Pursuant to the powers of attorney granted by Mr. Tam  Man Hong and Dr. Jiang Yide Alan
in favor of Dr. Wen on May 28, 2024, respectively, Dr. Wen is unconditionally, indefinitely and irrevocably
authorized and appointed to exercise all the voting rights attached to: (i) the Shares underlying the vested
outstanding options owned by them; and (ii) the Shares transferred or issued to them upon the exercise of
the vested outstanding options, except for any matter the outcome of the vote on which will
disproportionately, materially and adversely affect the grantor s, as compared to Dr. Wen or any other
Shareholder. The powers of attorney shall be valid from the Listing Date for an indefinite term. Each of
Mr. Tam Man Hong and Dr. Jiang Yide Alan, being the key persons of the Company, have provided
undertakings to each of the Stock Exchange and the Company regarding the disposal of securities pursuant
to Rule 18C.14(1) of the Listing Rules. For further details, please refer to the sections headed “History,
Development and Corporate Structure” and “Underwriting” in the Prospectus.
5. Representing the Shares held by Crete Helix Ltd.. Crete Helix Ltd. is held as to 99% by MH International
Holdings Limited, which is the holding vehicle of TMF (Cayman) Ltd. TMF (Cayman) Ltd. is the trustee
of the MH Fund Trust, a discretionary trust established by Dr. Ma as settlor.
6. Representing the Shares held by QuantumPharm Roc underlying outstanding options held by Dr. Ma. Such


--- page 9 ---
Shares will be transferred by QuantumPharm Roc to Dr. Ma upon the exercise of the options and continue
to be subject to the disposal restrictions. For further details, please refer to the sections headed “History,
Development and Corporate Structure” and “Underwriting” in the Prospectus.
7. Representing the Sha res held by QuantumPharm Roc underlying options held by QuantumPharm
Employee Holdings, a holding vehicle wholly owned by TMF Trust (HK) Limited as trustee of the
QuantumPharm Employee Benefit Trust, a discretionary trust established for the purposes of ma naging
and administering the outstanding options granted to Dr. Zhang Peiyu, a member of our senior
management, and 12 other employees of our Group.  Such options have been irrevocably settled into the
QuantumPharm Employee Benefit Trust under the terms of its trust deed dated June 28, 2021. Under the
terms of the trust deed, Dr. Ma, being the sole member of the advisory committee established by our
Company, has the sole power to make all decisions relating to the exercise of any voting and other rights
of the properties (including the exercise of the options) held under the trust and to give instructions and
directions to the trustee for the execution of such decisions without the need to seek for consent from the
beneficiaries, and the beneficiaries have no right to sell, bequeath or transfer any trust property. Dr. Zhang
Peiyu, being a key person of the Company, has provided an undertaking to the Stock Exchange and the
Company regarding the disposal of securities pursuant to Rule 18C.14(1) of the Listing Rules. For further
details, please refer to the sections headed “History, Development and Corporate Structure” and
“Underwriting” in the Prospectus.
8. Representing the Shares held by SeveningBAlpha Limited. SeveningBAlpha is held as to 99% by LPHappy
Holding Limited, which is the holding vehicle of TMF (Cayman) Ltd. TMF (Cayman) Ltd. is the trustee of
the LPHappy Family Trust, a discretionary trust established by Dr. Lai as settlor.
9. Representing the Shares held by QuantumPharm Roc underlying outstanding options held by Dr. Lai. Such
Shares will be transferred by QuantumPharm Roc to Dr. Lai upon the exercise of the options and continue
to be subject to the disposal restrictions. For further details, please refer to the sections headed “History,
Development and Corporate Structure” and “Underwriting” in the Prospectus.
10. The expiry date of the lock-up period shown is pursuant to Rule 18C.14(1) of the Listing Rules. In the event
that upon the notification by the Stock Exchange that our Company will no longer be regarded as a Pre -
Commercial Company after the Listing, the lock-up period will expire on the later of: (i) the date which is
12 months from the Listing Date; and (2) the date falling on the 30th day after the announcement on the
removal of designation as a Pre-Commercial Company as required under Rule 18C.24 of the Listing Rules.

Undertaking Providers





Name

Number of shares held
in the Company subject
to lock-up
undertakings upon
listing
% of shareholding in
the Company subject to
lock-up undertakings
upon listing (assuming
the Over-allotment
Option is not exercised)



Last day subject to the
lock-up undertakings
Image Frame Investment
(HK) Limited / 意像架構
投資（香港）有限公司
439,866,580 12.91% June 12, 2025 Note 2
HSG Venture VI
Holdco, Ltd.
203,444,338 5.97%   June 12, 2025 Note 2
HSG Growth VI
Holdco E, Ltd.
49,076,214 1.44% June 12, 2025 Note 2
HCHP Holdco, Ltd. Note 1 16,358,738 0.48% June 12, 2025 Note 2
HSG Venture VIII
Holdco, Ltd.
13,303,439 0.39% June 12, 2025 Note 2
Evolution Fund I, L.P. 137,008,547 4.02% June 12, 2025 Note 2
Evolution Special 85,349,937 2.51% June 12, 2025 Note 2


--- page 10 ---
Opportunity Fund I, L.P.
Evolution Fund I Co-
investment, L.P.
33,353,771 0.98% June 12, 2025 Note 2
China Life Chengda
(Shanghai) Healthcare
Equity Investment
Center (Limited
Partnership) / 國壽成達(
上海)健康產業股權投資
中心(有限合夥)
235,552,877 6.91% June 12, 2025 Note 2
Beijing PICC Health and
Pension Industry
Investment Fund (Limited
Partnership) / 北京人保
健康養老產業投資基金
(有限合夥)
119,730,945 3.51% June 12, 2025 Note 2
Subtotal 1,333,045,386 39.13%
Notes:

1. Save for HCHP Holdco, Ltd., which is a close associate of a pathfinder SII, the other Undertaking Providers
are pathfinder SIIs of the Company as defined under Chapter 2.5 of the HKEX Guide.
2. The expiry date of the lock-up period shown is pursuant to Rule 18C.14(2) of the Listing Rules. In the event that
upon the notification by the Stock Exchange that our Company will no longer be regarded as a Pre-Commercial
Company after the Listing, the lock -up period will expire on the later of: (i) the date which is six months from
the Listing Date; and (2) the date falling on the 30th day after the announcement on the removal of designation
as a Pre-Commercial Company as required under Rule 18C.24 of the Listing Rules.


Cornerstone Investors





Name

Number of shares held
in the Company subject
to lock-up
undertakings upon
listing
% of shareholding in
the Company subject to
lock-up undertakings
upon listing (assuming
the Over-allotment
Option is not exercised)



Last day subject to the
lock-up undertakings
Successful Lotus Limited 7,575,000 0.22% December 12, 2024 Note 2
IntelliMed One Investment
Limited Note 1
5,163,000 0.15% December 12, 2024 Note 2
Mammoth Medical
Solutions
11,700,000  0.34% December 12, 2024 Note 2
Begonia No. 1 LPF / 海棠
壹號有限合夥基金
17,573,000  0.52% December 12, 2024 Note 2
Prof. Bradley Lether
Pentelute
1,464,000 0.04% December 12, 2024 Note 2


--- page 11 ---
Ginkgo Capital Global
Fund SPC—Ginkgo
Capital Global Fund I SP
Note 1
14,644,000 0.43% December 12, 2024 Note 2
Biocytogen
Pharmaceuticals (Beijing)
Co., Ltd. / 百奧賽圖(北
京)醫藥科技股份有限公
司
2,017,000 0.06% December 12, 2024 Note 2
FaaS Capital Longevity
Limited
3,787,000 0.11% December 12, 2024 Note 2
Subtotal 63,923,000 1.88%
 Notes:

1. (i) IntelliMed and its close associate  and (ii) a close associate of Ginkgo Capital Global Fund SPC —Ginkgo
Capital Global Fund I SP  were allocated Offer Shares pursuant to Chapter 2.5 of the HKEX Guide . For details,
please refer to the section s headed “ International Offering – Cornerstone Investors ” above and “Others /
Additional Information” below. Only the Shares subscribed by IntelliMed and Ginkgo Capital Global Fund SPC—
Ginkgo Capital Global Fund I SP as cornerstone investors are subject to lock-up undertakings as indicated above.
2. The Cornerstone Investor s shall not dispose of any of the Offer Shares subscribed pursuant to the  Cornerstone
Investment Agreements on or before the indicated date.

Pre-IPO Investors





Name

Number of shares held
in the Company subject
to lock-up
undertakings upon
listing
% of shareholding in
the Company subject to
lock-up undertakings
upon listing (assuming
the Over-allotment
Option is not exercised)



Last day subject to the
lock-up undertakings
All Pre-IPO Investors
(except for Pathfinder SIIs
and HCHP Holdco, Ltd.) /
所有首次公開發售前投
資者(領航資深獨立投資
者及HCHP Holdco, Ltd.
除外) Note 1
1,155,464,192 33.92% December 12, 2024 Note 2
Notes:

1. Please refer to the section headed “History, Development and Corporate Structure—Pre-IPO Investments” in the
Prospectus for the identities of the Pre-IPO Investors other than the Pathfinder SIIs and HCHP Holdco, Ltd..
2. The expiry date of the lock -up period shown is pursuant to the disclosure in the Prospectus . Please refer to the
section headed “ Underwriting – Undertakings by the Other Pre -IPO Investors” in the Prospectus for further
details.


--- page 12 ---
PLACEE CONCENTRATION ANALYSIS

Placees
Number of
Shares allotted
Allotment as % of
International
Offering
(assuming no
exercise of the
Over-allotment
Option)
Allotment as % of
International
Offering (assuming
the Over-allotment
Option is exercised
and new Shares are
issued)
Allotment as %
of total Offer
Shares (assuming
no exercise of the
Over-allotment
Option)
Allotment as % of
total Offer Shares
(assuming the Over-
allotment Option is
exercised and new
Shares are issued)
Number of
Shares held
upon Listing
% of total issued
share capital upon
Listing (assuming
no exercise of the
Over-allotment
Option)
% of total issued
share capital upon
Listing (assuming
the Overallotment
Option is exercised
and new Shares are
issued)
Top 1 54,284,000 36.21% 30.50% 28.97% 25.19% 54,284,000  1.59% 1.58%
Top 5 127,214,000 84.87% 71.47% 67.89% 59.04% 127,214,000  3.73% 3.70%
Top 10 154,696,000 103.20% 86.91% 82.56% 71.79% 154,696,000  4.54% 4.50%
Top 25 174,494,000 116.41% 98.03% 93.13% 80.98% 364,953,944  10.71% 10.62%

Note
* Ranking of placees is based on the number of Shares allotted to the placees.


--- page 13 ---
SHAREHOLDER CONCENTRATION ANALYSIS

Sharehold
ers
Number
of Shares
allotted
Allotment as
% of
International
Offering
(assuming no
exercise of
the Over-
allotment
Option)
Allotment as
% of
International
Offering
(assuming the
Over-
allotment
Option is
exercised and
new Shares
are issued)
Allotment
as % of
total Offer
Shares
(assuming
no
exercise of
the Over-
allotment
Option)
Allotment
as % of
total Offer
Shares
(assuming
the Over-
allotment
Option is
exercised
and new
Shares are
issued)
Number
of Shares
held upon
Listing
% of total
issued share
capital upon
Listing
(assuming no
exercise of
the Over-
allotment
Option)
% of total
issued
share
capital
upon
Listing
(assuming
the Over-
allotment
Option is
exercised
and new
Shares are
issued)
Top 1 0 0.00% 0.00% 0.00% 0.00% 587,668,1
43
17.25% 17.11%
Top 5 0 0.00% 0.00% 0.00% 0.00% 1,784,623
,846
52.38% 51.96%
Top 10 1,800,000 1.20% 1.01% 0.96% 0.84% 2,359,827
,481
69.27% 68.70%
Top 25 59,264,00
0
39.54% 33.29% 31.63% 27.50% 3,075,287
,240
90.27% 89.53%
Note
* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.

BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the Prospectus, valid applications made by the
public will be conditionally allocated on the basis set out below:

BASIS OF ALLOTMENT FOR PRESS ANNOUNCEMENT
NO. OF
SHARES
APPLIED
FOR
NO. OF
V ALID
APPLIC
ATIONS BASIS OF ALLOTMENT / BALLOT
APPROXIMATE
PERCENTAGE
ALLOTTED OF
THE TOTAL NO.
OF SHARES
APPLIED FOR
  POOL A
1,000 8,285 1,657 out of 8,285 applicants to receive 1,000 shares 20.00%
2,000 1,434 502 out of 1,434 applicants to receive 1,000 shares 17.50%
3,000 734 331 out of 734 applicants to receive 1,000 shares 15.03%
4,000 374 195 out of 374 applicants to receive 1,000 shares 13.03%
5,000 591 326 out of 591 applicants to receive 1,000 shares 11.03%
6,000 186 112 out of 186 applicants to receive 1,000 shares 10.04%


--- page 14 ---
7,000 130 87 out of 130 applicants to receive 1,000 shares 9.56%
8,000 1,631 1,149 out of 1,631 applicants to receive 1,000 shares 8.81%
9,000 80 62 out of 80 applicants to receive 1,000 shares 8.61%
10,000 765 635 out of 765 applicants to receive 1,000 shares 8.30%
15,000 964 1,000 shares 6.67%
20,000 486 1,000 shares plus 109 out of 486 applicants to receive
an additional 1,000 shares 6.12%
25,000 209 1,000 shares plus 84 out of 209 applicants to receive an
additional 1,000 shares 5.61%
30,000 387 1,000 shares plus 219 out of 387 applicants to receive
an additional 1,000 shares 5.22%
35,000 135 1,000 shares plus 97 out of 135 applicants to receive an
additional 1,000 shares 4.91%
40,000 233 1,000 shares plus 201 out of 233 applicants to receive
an additional 1,000 shares 4.66%
45,000 104 2,000 shares 4.44%
50,000 529 2,000 shares plus 69 out of 529 applicants to receive an
additional 1,000 shares 4.26%
60,000 188 2,000 shares plus 72 out of 188 applicants to receive an
additional 1,000 shares 3.97%
70,000 111 2,000 shares plus 68 out of 111 applicants to receive an
additional 1,000 shares 3.73%
80,000 160 2,000 shares plus 133 out of 160 applicants to receive
an additional 1,000 shares 3.54%
90,000 70 3,000 shares 3.33%
100,000 648 3,000 shares plus 195 out of 648 applicants to receive
an additional 1,000 shares 3.30%
200,000 391 5,000 shares 2.50%
300,000 147 6,000 shares 2.00%
400,000 115 7,000 shares 1.75%
500,000 82 8,000 shares 1.60%
600,000 34 9,000 shares 1.50%
700,000 21 10,000 shares 1.43%
800,000 79 11,000 shares 1.38%

 19,303 Total number of Pool A successful applicants:
10,149

  POOL B

900,000

187
39,000 shares plus 122 out of 187 applicants to receive
an additional 1,000 shares 4.41%


--- page 15 ---
1,000,000

46
43,000 shares plus 37 out of 46 applicants to receive an
additional 1,000 shares 4.38%

1,500,000

16
65,000 shares plus 8 out of 16 applicants to receive an
additional 1,000 shares 4.37%

2,000,000

9  87,000 shares 4.35%

2,500,000

4
108,000 shares plus 2 out of 4 applicants to receive an
additional 1,000 shares 4.34%

3,000,000

2  130,000 shares 4.33%

3,500,000

1  151,000 shares 4.31%

4,000,000

7  172,000 shares 4.30%

4,684,000

27  201,000 shares 4.29%

299
Total number of Pool B successful applicants:
299


As of the date of this announcement, the relevant subscription monies previously deposited in the
designated nominee accounts have been remitted back to the accounts of all HKSCC participants.
Investors should contact their relevant brokers for any inquiries.

COMPLIANCE WITH LISTING RULES AND GUIDANCE
The Directors confirm that, except for the Listing Rules that have been waived and/or in respect of
which consent has been obtained,  the Company has complied with the Listing Rules and guidance
materials in relation to the placing, allotment and listing of the Company’s shares.
The Directors confirm that, to the best of their knowledge, the consideration paid by the placees or the
public (as the case may be) directly or indirectly for each Offer Share subscribed for or purchased by
them was the same as the final Offer Price in addition to any brokerage, AFRC transaction levy, SFC
transaction levy and trading fee payable.
The Directors and the Overall Coordinators confirm that at least 50% of the total number of the Offer
Shares (excluding any shares to be issued pursuant to the exercise of any over-allotment option) have
been allocated to and taken up by independent price setting investors (whether as Cornerstone
Investors or placees) in compliance with Rule 18C.08 of the Listing Rules.
The Directors further confirm that at least 20% of the issued share capital of the Company (before
exercise of any over-allotment option) will be held by sophisticated independent investors at the time
of Listing in compliance with Chapter 2.5 of the HKEX Guide.
OTHERS / ADDITIONAL INFORMATION
Reallocation
As the Hong Kong Public Offering has been over-subscribed by more than 50 times of the total number
of Offer Shares initially available under the Hong Kong Public Offering, the reallocation procedure as


--- page 16 ---
disclosed in the section headed “Structure of the Global Offering – The Hong Kong Public Offering –
Reallocation and Clawback” in the Prospectus has been applied.
The number of Offer Shares initially available under the Hong Kong Public Offering is 9,369,000
Shares, representing approximately 5% of the total number of Offer Shares initially available under
the Global Offering (ass uming the Over -allotment Option is not exercised). As a result of such
reallocation, the final number of Offer Shares under the Hong Kong Public Offering is adjusted to
37,475,000 Shares, representing 20% of the total number of Offer Shares available under  the Global
Offering (assuming the Over-allotment Option is not exercised).
Close Associates of Existing Shareholders as Placees (with a Waiver from Strict Compliance with
Rule 10.04 of the Listing Rules and a Prior Written Consent under Paragraph 5(2) of the Placing
Guidelines)
 Yael Capital Partners I L.P. is an existing shareholder of the Company. The general partner of Yael
Capital Partners I L.P. is Yael Capital Management Limited, which is ultimately controlled by Liu
Chong. Therefore, Liu Chong is a close associate of Yael Capital Partners I L.P.. As of the date of the
Prospectus, Yael Capital Partners I L.P. held 117,023,787 Shares, representing approximately 3.64%
of the total issued Shares. Under the International Offering, Liu Chong has been placed with 1,800,000
Offer Shares at the Offer Price, representing approximately 0.96% of the total number of Offer Shares
initially available under the Global Offering (a ssuming the Over-Allotment Option is not exercised)
and approximately 0.05% of the total issued Shares of the Company upon completion of the Global
Offering (assuming the Over-allotment Option is not exercised).
Hermitage Galaxy Fund SPC for and on behalf of Hermitage Fund Two SP is an existing shareholder
of the Company. It is ultimately controlled by Mr. Yuqiu Xiang, who also ultimately controls
Hermitage Global Limited. Therefore, Hermitage Global Limited  is a close associate of Hermitage
Galaxy Fund SPC  for and on behalf of Hermitage Fund Two SP.  As of the date of the Prospectus,
Hermitage Galaxy Fund SPC for and on behalf of Hermitage Fund Two SP held 44,168,592 Shares,
representing approximately 1.37% of the total issued Shares. Under the International  Offering,
Hermitage Global Limited has been placed with 1,500,000 Offer Shares at the Offer Price, representing
approximately 0.80% of the total number of Offer Shares initially available under the Global Offering
(assuming the Over-Allotment Option is no t exercised) and approximately 0.04% of the total issued
Shares of the Company upon completion of the Global Offering (assuming the Over-allotment Option
is not exercised).
Mirae Asset New Economy Fund L.P. is an existing shareholder of the Company. Mirae  Asset
Securities (HK) Limited holds 30% or more limited partnership interests in Mirae Asset New Economy
Fund L.P.. Therefore, Mirae Asset Securities (HK) Limited is a close associate of Mirae Asset New
Economy Fund L.P.. As of the date of the Prospectus,  Mirae Asset New Economy Fund L.P. held
26,606,877 Shares, representing approximately 0.83% of the total issued Shares.  Under the
International Offering, Mirae Asset Securities (HK) Limited and their close associate have been placed
with 1,680,000 Offer Shares in aggregate at the Offer Price, representing approximately 0.90% of the
total number of Offer Shares initially available under the Global Offering (assuming the Over -
Allotment Option is not exercised) and approximately 0.05% of the total issued Shares of the Company
upon completion of the Global Offering (assuming the Over-allotment Option is not exercised).
The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a waiver
from strict compliance with Rule 10.04 o f the Listing Rules and its consent under paragraph 5(2) of
the Placing Guidelines to permit the Company to allocate such Offer Shares in the International


--- page 17 ---
Offering to each of Liu Chong, Hermitage Global Limited and Mirae Asset Securities (HK) Limited
(and their close associate). The allocation of Offer Shares to each of Liu Chong, Hermitage Global
Limited and Mirae Asset Securities (HK) Limited  (and its close associate)  is in compliance with all
the conditions under the waiver and consent granted by the Stock Exchange.
Allocation of Offer Shares to Cornerstone Investor  and/or its close associates (with a Prior
Written Consent under Chapter 4.15 of the HKEX Guide)
IntelliMed is a cornerstone investor of the Company which will hold approximately 0.15% of the total
issued Shares of the Company immediately following the Global Offering (assuming the Over -
allotment Option is not exercised). Under the International Offering, IntelliMed, together with
TruMed, which is a close associate of IntelliMed sharing the same investment manager, were allocated
further Offer Shares as placees.  IntelliMed and TruMed  have been placed with 13,800,000 and
1,450,000 Offer Shares at the Offer Price, representing approximately 7.36% and 0.77% of the total
number of Offer Shares initially available under the Global Offering (assuming the Over -Allotment
Option is not exercised) and approximately 0.41% and 0.04% of the total issued Shares of the Company
upon completion of the Global Offering (assuming the Over-allotment Option is not exercised).
Ginkgo Capital Global Fund SPC —Ginkgo Capital Global Fund I SP (“Ginkgo Fund I ”) is a
cornerstone investor of the Company. Ginkgo Fund II , which has the same investment manager as
Ginkgo Fund I, is a close associate of Ginkgo Fund I. Under the International Offering, Ginkgo Fund
II was allocated Offer Shares as a placee. It has been placed with 8,600,000 Offer Shares at the Offer
Price, representing approximately 4.59% of the total number of Offer Shares initially available under
the Global Offering (assuming the Over-Allotment Option is not exercised) and approximately 0.25%
of the total issued Shares of the Company upon completion of the Global Offering (assuming the Over-
allotment Option is not exercised).
The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a consent
under Chapter 4.15 of the HKEX Guide to permit the Company to allocate such Offer Shares in the
International Offering to each of IntelliMed (as a placee), TruMed and Ginkgo Fund II. The allocation
of Offer Shares to IntelliMed (as a placee), TruMed and Ginkgo Fund II is in compliance with all the
conditions under the consent granted by the Stock Exchange.

DISCLAIMERS


Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the
“Stock Exchange”) and Hong Kong Securities Clearing Company Limited (“HKSCC”) take
no responsibility for the contents of this announcement, make no representation as to its accuracy
or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising
from or in reliance upon the whole or any part of the contents of this announcement.
This announcement is not for release, publication, distribution, directly or indirectly, in or into
the United States (including its territories and possessions, any state of the United States and
the District of Columbia). This announcement does not constitute or form a part of any offer or
solicitation to purchase or subscribe for securities in the United States. The securities mentioned
herein have not been, and will not be, registered under the United States Securities Act of 1933,
as amended (the “U.S. Securities Act”). The securities may not be offered or sold in the United
States except pursuant to an exemption from the registration requirements of the U.S. Securities
Act and in compliance with any applicable state securities laws, or outside the United States


--- page 18 ---
unless in compliance with Regulation S under the U.S. Securities Act. There will be no public
offer of securities in the United States.
The Offer Shares are being offered and sold (1) solely to qualified institutional buyers as defined
in Rule 144A under the U.S. Securities Act pursuant to an exemption from registration under the
U.S. Securities Act and (2) outside the United States in off shore transactions in reliance on
Regulation S under the U.S. Securities Act.
This announcement is for information purposes only and does not constitute an invitation or offer
to acquire, purchase or subscribe for securities. This announcement is not a prospectus. Potential
investors should read the Prospectus dated June 4, 2024 issued by QuantumPharm Inc. for detailed
information about the Global Offering described below before deciding whether or not to invest
in the Shares thereby being offered.
*Potential investors of the Offer Shares should note that the Sole Sponsor and Overall
Coordinators (for themselves and on behalf of the Hong Kong Underwriters) shall  be entitled to
terminate the Hong Kong Underwriting Agreement with immediate effect upon the occurrence
of any of the events set out in the section headed “Underwriting – Hong Kong Underwriting
Arrangements – Hong Kong Public Offering –Grounds for Termination” in the Prospectus at any
time prior to 8:00 a.m. (Hong Kong time) on the Listing Date (which is currently expected to
be on Thursday, June 13, 2024).


--- page 19 ---
3
PUBLIC FLOAT AND FREE FLOAT
Immediately following the completion of the Global Offering, (i) approximately 65.63% of the
total issued share capital of the Company (assuming the Over-Allotment Option is not exercised)
will be held by the public and will satisfy the minimum percentage as prescribed under Rule
8.08(1)(a) of the Listing Rules; (ii) the three largest public Shareholders do not hold more than
50% of the Shares in public hands at the time of Listing in compliance with Rules 8.08(3) and
8.24 of the Listing Rules; (iii) there will not be any new substantial Shareholder (as defined in
the Listing Rules) of the Company; and (iv) there will be at least 300 Shareholders at the time of
Listing in compliance with Rule 8.08(2) of the Listing Rules.
The Directors confirm that Shares with a market capitalization of approximately HK$651,816,000
will not be subject to any disposal restrictions (whether under contract, the Listing Rules,
applicable laws or otherwise) at the time of Listing and will satisfy the minimum requirement as
prescribed under Rule 18C.10 of the Listing Rules.
COMMENCEMENT OF DEALINGS
Share certificates will only become valid at 8:00 a.m. on Thursday, June 13, 2024 (Hong Kong
time), provided that the Global Offering has become unconditional and the right of termination
described in the section headed “Underwriting ” in the Prospectus has not been exercised. Investors
who trade Shares prior to the receipt of Share certificates or the Share certificates becoming valid
do so entirely at their own risk.
Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. on Thursday, June
13, 2024 (Hong Kong time), it is expected that dealings in our Shares on the Stock Exchange will
commence at 9:00 a.m. on Thursday, June 13, 2024 (Hong Kong time). The Shares will be traded
in board lots of 1,000 Shares each. The stock code of the Shares will be 2228.
By order of the Board
QuantumPharm Inc.
Dr. Wen Shuhao
Chairman of the Board and Executive Director
Hong Kong, June 12, 2024
As at the date of this announcement, the board of directors of the Company comprises Dr. Wen
Shuhao, Dr. Ma Jian, Dr. Lai Lipeng and Dr. Jiang Yide Alan as executive Directors, Dr. Gu
Cuiping as a non-executive Director, and Mr. Law Cheuk Kin Stephen, Ms. Chan Wing Ki and
Mr. Chow Ming Sang as independent non-executive Directors.
