--- page 1 ---
1
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 or in any other jurisdictions in which such offer or solicitation would be unlawful. 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 any state securities law of the United States. The securities may not
be offered, sold, pledged or transferred within the United States, except in transactions exempt from, or not subject
to, 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 the Offer Shares in the United States. The Offer Shares are being offered and
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 offshore transactions
in reliance on Regulation S under the U.S. Securities Act and applicable laws of each jurisdiction where those offers
and sales occur. 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 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 May 5, 2026 (the “Prospectus ”) issued by IMPACT Therapeutics, Inc (ʮ̡ ) (the
“Company ”) for detailed information about the Global Offering described below before deciding whether or not to
invest in the H 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.
Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as those
defined in the Prospectus.
In connection with the Global Offering, Goldman Sachs (Asia) L.L.C., as the stabilization manager (the “Stabilization
Manager ”), or any person acting for it and 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 for a limited period after the Listing Date. However, there is no obligation on the Stabilization Manager (or any
person acting for it) to conduct any such stabilizing action. Such stabilizing action, if taken, (a) will be conducted at
the absolute discretion of the Stabilization Manager (or any person acting for it) and in what the Stabilization Manager
reasonably regards as the best interest of the Company, (b) may be discontinued at any time and (c) is required to be
brought to an end within 30 days of the last day 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 action cannot be taken to support the price of the Shares for longer
than the stabilization period which begins on the Listing Date, and is expected to expire on Sunday, June 7, 2026, the
30th day after the last day for the lodging of applications under the Hong Kong Public Offering. After this date, no
further stabilizing action may be taken, demand for the Shares, and therefore the price of the Shares, could fall.
Potential investors of the Offer Shares should note that the Overall Coordinators (for themselves and on behalf of
the Hong Kong Underwriters) shall be entitled to terminate their obligations under the Hong Kong Underwriting
Agreement with immediate effect upon the occurrence of any of the events set out in the section headed “Underwriting
– 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 Wednesday, May 13,
2026).


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2
IMPACT Therapeutics, Inc
ʮ̡
(A joint stock company established in the People ’s Republic of China with limited liability)
GLOBAL OFFERING
Number of Offer Shares under the Global
Offering
: 41,977,000 H Shares (subject to the
Over-allotment Option)
Number of Hong Kong Offer Shares : 4,197,800 H Shares
Number of International Offer Shares : 37,779,200 H Shares (subject to the
Over-allotment Option)
Final Offer Price : HK$20.10 per H Share, plus brokerage
of 1.0%, AFRC transaction levy of
0.00015%, SFC transaction levy of
0.0027% and Stock Exchange trading fee
of 0.00565%
Nominal value : RMB1.00 per H Share
Stock code : 7630
Joint Sponsors, Overall Coordinators, Joint Global Coordinators,
Joint Bookrunners and Joint Lead Managers
Joint Global Coordinator,
Joint Bookrunner and Joint Lead Manager
Joint Bookrunner and Joint Lead Manager


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3
IMPACT Therapeutics, Inc
ʮ̡
ANNOUNCEMENT OF FINAL OFFER PRICE
 AND ALLOTMENT RESULTS
Warning: In view of high concentration of shareholding in a small number of H Shareholders, H
Shareholders and prospective investors should be aware that the price of the H Shares could move
substantially even with a small number of H Shares traded and should exercise extreme caution
when dealing in the H Shares.
Unless otherwise defined herein, capitalized terms used in this announcement shall have the same
meanings as those defined in the prospectus dated May 5, 2026 (the “Prospectus ”) issued by
IMPACT Therapeutics, Inc (ʮ̡ ) (the “Company ”).
SUMMARY
Company information
Stock code 7630
Stock short name IMPACT THERAP-B
Dealings commencement date May 13, 2026*
* see note at the end of the announcement
Price Information
Final Offer Price HK$20.10
Offer Price Range HK$19.75 – HK$21.75
Offer Shares and Share Capital
Number of Offer Shares (before exercise of the Over-allotment Option) 41,977,000
H Shares
Final Number of Offer Shares in Hong Kong Public Offering 4,197,800
H Shares
Final Number of Offer Shares in International Offering (before
exercise of the Over-allotment Option)
37,779,200
H Shares
Number of issued Shares upon Listing (before exercise of the Over-
allotment Option)
276,165,130
Shares
Over-allocation
Number of Offer Shares over-allocated 6,296,400
Such over-allocation may be covered by exercising the Over-allotment Option or by making
purchases in the secondary market at prices that do not exceed the Offer Price or through
deferred delivery 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.


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4
Proceeds
Gross proceeds (Note) HK$843.7 million
 Less: Estimated listing expenses payable based on
     Offer Price
HK$84.2 million
Net proceeds HK$759.5 million
Note: Gross proceeds refers to the amount to which the Company is entitled to receive. For details of the use of
proceeds, please refer to the section headed “Future Plans and Use of Proceeds ” of the Prospectus. The
Company will adjust the allocation of the net proceeds from the exercise of the Over-allotment Option (if
any) for the purposes as set out in the section headed “Future Plans and Use of Proceeds ” of the Prospectus
on a pro rata basis.
ALLOTMENT RESULTS DETAILS
HONG KONG PUBLIC OFFERING
No. of valid applications 221,788
No. of successful applications 18,774
Subscription level 2,282.4 times
Claw-back triggered N/A
No. of Offer Shares initially available under the Hong Kong Public
Offering 4,197,800 H Shares
No. of Offer Shares reallocated from the International Offering
(claw-back) N/A
Final no. of Offer Shares under the Hong Kong Public Offering 4,197,800 H Shares
% of Offer Shares under the Hong Kong Public Offering to the
Global Offering 10.00%
Note: For details of the final allocation of the H Shares to the Hong Kong Public Offering, investors
can refer to www.eipo.com.hk/eIPOAllotment to perform a search by identification number or
www.eipo.com.hk/eIPOAllotment for the full list of allottees.
INTERNATIONAL OFFERING
No. of placees 137
Subscription level 24.58 times
No. of Offer Shares initially available under the International
Offering 37,779,200 H Shares
No. of Offer Shares reallocated to the Hong Kong Public Offering
(claw-back) N/A
Final no. of Offer Shares under the International Offering 37,779,200 H Shares
% of Offer Shares under the International Offering to the Global
Offering 90%


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5
The Directors confirm that, to the best of their knowledge, information and belief, save for
consents under paragraphs 1C(1) and 1C(2) of Appendix F1 to the Listing Rules (the “Placing
Guidelines ”) and waivers from strict compliance with the requirements under Rules 9.09(b)(if
applicable) and 10.04 of the Listing Rules pursuant to Chapters 2.3 and 4.15 of the Guide for
New Listing Applicants ( “Listing Guide ”) granted by the Stock Exchange to permit the Company
to, among other things, place certain H Shares in the International Offering to certain existing
Shareholders and/or their close associates and certain connected clients, (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 close 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 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 H 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  Note 1
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 Note 2
Nanjing Biotech and Pharmaceutical Valley
Construction and Development Co., Ltd.
(“BPV”) and Huatai Capital Investment Limited
(“HTCI”) (in connection with Huatai Back-to-
back TRS and the Huatai Client TRS)
4,775,600 11.38% 1.73% No
Huang River Investment Limited ( “Huang
River”) Note 3
3,117,800 7.43% 1.13% Yes
Prosper High Holding Limited ( “Prosper
High”) Note 3
776,000 1.85% 0.28% Yes
LAV Star Limited ( “LAV Star ”) Note 4 974,200 2.32% 0.35% Yes
LAV Star Opportunities Limited ( “LAV
Opportunities ”) Note 4
974,200 2.32% 0.35% Yes
Global Superior Choice Fund 1 SP ( “GSC Fund
1”) Note 5
565,000 1.35% 0.20% No
Vision Fund 1 SP ( “Vision Fund 1 ”) Note 5 993,800 2.37% 0.36% No


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6
Investor  Note 1
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 Note 2
Horizon Fund 1 SP ( “Horizon
Fund 1 ”) Note 5
194,800 0.46% 0.07% No
Horizon Next SP ( “Horizon Next Fund ”) Note 5 194,800 0.46% 0.07% No
First Quarter Moon OFC – Phecda Fund 974,200 2.32% 0.35% No
Worldwide Healthcare Partners LLC
(“WWHCP ”) Note 6
389,600 0.93% 0.14% Yes
Total 13,930,000 33.19% 5.03%
Notes:
(1) For further details of the Cornerstone Investors, please refer to the section headed “Cornerstone Investors ” in the Prospectus.
(2) Among the Cornerstone Investors, WWHCP is an existing Shareholder, each of LAV Star, LAV Opportunities is a close associate of an existing
Shareholder and a core connected person of the Company, and each of Huang River and Prosper High is a close associate of an existing
Shareholder. The Stock Exchange has granted consents under paragraph 1C (2) of Appendix F1 of Placing Guidelines and Chapter 4.15 of the
Listing Guide and a waiver from strict compliance from the requirements under Rule 9.09(b) and Rule 10.04 of the Listing Rules to permit each
of WWHCP, LAV Star, LAV Opportunities, Huang River and Prosper High to participate in the International Offering as a cornerstone investor.
Please refer to the section headed “Waivers and Exemptions – Consent and Waiver in respect of Allocation of H Shares to Certain Existing
Shareholders and/or Their Close Associates ” of the Prospectus for details.
(3) Tencent Holdings Limited (ʮ̡ ), through Guangxi Tencent Venture Investment Co., Ltd. (ʮ̡ ), owns
approximately 6.66% of the total number of issued Shares of the Company before the Global Offering. Such shareholding is expected to be
approximately 7.06% immediately following the completion of the Global Offering (and before any exercise of the Over-allotment Option), after
taking into account the Shares to be subscribed by Huang River and Prosper High under the Cornerstone Investment.
(4) As disclosed in the Prospectus, each of LAV Innovation Hong Kong Co., Limited, LAV Enterprise Hong Kong Limited, LAV Impetus Limited,
and LAV Integra Limited (together, “LAV USD ”) owns approximately 15.62% of the total number of issued Shares of the Company before the
Global Offering. Such shareholding is expected to be approximately 13.95% immediately following the completion of the Global Offering (and
before any exercise of the Over-allotment Option), after taking into account the Shares to be subscribed by LAV Star and LAV Opportunities
under the Cornerstone Investment.
(5) As disclosed in the Prospectus, GSC Fund 1, Vision Fund 1, Horizon Fund 1, and Horizon Next Fund are all sub-funds of Foresight Global
Superior Choice SPC. Immediately following the completion of the Global Offering (and before any exercise of the Over-allotment Option),
Foresight owns approximately 0.71% of the total number of issued Shares of the Company.
(6) WWHCP owns approximately 0.14% of the total number of issued Shares of the Company before the Global Offering. Such shareholding is
expected to increase to approximately 0.26% immediately following the completion of the Global Offering (and before any exercise of the Over-
allotment Option), after taking into account the Shares to be subscribed by it under the Cornerstone Investment. Exome Asset Management LLC,
through WWHCP and Emerging Markets Healthcare Partners LLC, in aggregate owns approximately 0.39% of the total number of issued Shares
of the Company before the Global Offering, and approximately 0.47% immediately following the completion of the Global Offering (and before
any exercise of the Over-allotment Option).


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7
Allottees 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
Allottees with consent under paragraph 1C(2) of the Placing Guidelines and waiver from strict
compliance with the requirements under Rule 9.09(b) (where applicable) and Rule 10.04 of the Listing
Rules pursuant to Chapters 2.3 and 4.15 of the Listing Guide in relation to subscription for Offer
Shares by existing Shareholder and/or their close associates Note 1
WWHCP 389,600 0.93% 0.14% An Existing
Shareholder
LAV Star 974,200 2.32% 0.35% A close
associate of
an existing
Shareholder
LAV Opportunities 974,200 2.32% 0.35% A close
associate of
an existing
Shareholder
Huang River 3,117,800 7.43% 1.13% A close
associate of
an existing
Shareholder
Prosper High 776,000 1.85% 0.28% A close
associate of
an existing
Shareholder
CPIC Investment Management HK
Limited ( “CPIC IMHK ”) Note 2
272,800 0.65% 0.10% A close
associate of
an existing
Shareholder
PACIFIC ASSET MANAGEMENT CO.,
LTD. ( “Pacific Asset ”) Note 2
1,091,200 2.60% 0.40% A close
associate of
an existing
Shareholder


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8
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
Wealth Shine Asia Pacific Limited
(“Wealth Shine ”) Note 3
311,800 0.74% 0.11% A close
associate of
an existing
Shareholder
STAR FOCUS GROUP LIMITED ( “Star
Focus”) Note 4
30,600 0.07% 0.01% A close
associate of
an existing
Shareholder
Allottees with consent under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the
Listing Guide in relation to allocations to connected clients Note 5
CICC Financial Trading Limited ( “CICC
FT”)
5,800 0.0138% 0.0021% A connected
client
China Asset Management (Hong Kong)
Limited ( “China AMC ”)
4,200 0.0100% 0.0015% A connected
client
Notes:
1. The Stock Exchange has granted a consent under paragraph 1C(2) of the Placing Guidelines and a waiver
from strict compliance with the requirements under Rule 9.09(b) (where applicable) and 10.04 of the Listing
Rules pursuant to Chapters 2.3 and 4.15 of the Listing Guide to permit Offer Shares be placed the above
placees who are existing Shareholders and/or their close associates. Please refer to the section headed
“Others/Additional Information – Allocation of H Shares to Certain Existing Shareholders and/or Their Close
Associates ” in this announcement.
2. Shanghai Kangjun Business Management Consulting Partnership (Limited Partnership) ( ɪऎੰ⪯Άุ၍ଣ
ፔ༔ΥྫΆุ (Υྫ )(“Shanghai Kangjun ”) owns approximately 2.58% of the total number of issued
Shares of the Company before the Global Offering. Such shareholding is expected to be approximately 2.68%
immediately following the completion of the Global Offering (and before any exercise of the Over-allotment
Option), after taking into account the Shares to be subscribed by CPIC IMHK and Pacific Asset under the
International Offering.
3. Gongqingcheng Ruiji Fund III Investment Partnership (Limited Partnership) (๿Λɧಂҳ༟ΥྫΆ
ุ(Υྫ )) ( “Ruiji Fund III ”) owns approximately 1.01% of the total number of issued Shares of the
Company before the Global Offering. Such shareholding is expected to be approximately 0.97% immediately
following the completion of the Global Offering (and before any exercise of the Over-allotment Option), after
taking into account the Shares to be subscribed by Wealth Shine under the International Offering.


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9
4. Eagle Mind Investments Limited ( “Eagle Mind ”) owns approximately 0.98% of the total number of issued
Shares of the Company before the Global Offering. Such shareholding is expected to be approximately 0.84%
immediately following the completion of the Global Offering (and before any exercise of the Over-allotment
Option), after taking into account the Shares to be subscribed by Star Focus under the International Offering.
5. For details of the consent under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the Listing
Guide in relation to allocations to a connected client, please refer to the section headed “Others/Additional
Information – Placing to a connected client with prior consent under paragraph 1C(1) of the Placing
Guidelines ” in this announcement.
LOCK-UP UNDERTAKINGS
Cornerstone Investors
Investor Note 1
Number of H 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
undertaking Note 1
BPV and HTCI (in connection with
Huatai Back-to-back TRS and the Huatai Client TRS)
4,775,600 1.73% November 12, 2026
Huang River 3,117,800 1.13% November 12, 2026
Prosper High 776,000 0.28% November 12, 2026
LAV Star 974,200 0.35% November 12, 2026
LAV Opportunities 974,200 0.35% November 12, 2026
GSC Fund 1 565,000 0.20% November 12, 2026
Vision Fund 1 993,800 0.36% November 12, 2026
Horizon Fund 1 194,800 0.07% November 12, 2026
Horizon Next Fund 194,800 0.07% November 12, 2026
First Quarter Moon OFC – Phecda Fund 974,200 0.35% November 12, 2026
WWHCP 389,600 0.14% November 12, 2026
Subtotal 13,930,000 5.03%
Note:
1. In accordance with the relevant cornerstone investment agreements, the required lock-up ends on November
12, 2026, being six months following the Listing Date. The Cornerstone Investors will cease to be prohibited
from disposing of or transferring H Shares subscribed for pursuant to the relevant cornerstone investment
agreements after the indicated date.


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10
Other Existing Shareholders (including the Pre-IPO Investors as defined in the “History,
Development and Corporate Structure ” section of the Prospectus)
Name
Number of H 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 Note 1
Sui Xiong Cai ( ᇹ༹ඪ) 8,422,233 3.05% May 12, 2027
Ye Edward Tian ( ͞௉) 8,422,233 3.05% May 12, 2027
Bao Jun 2,767,497 1.00% May 12, 2027
Yu Qingzhen (ࠊ39,722 0.01% May 12, 2027
Decheng IMPACT Limited 23,559,685 8.53% May 12, 2027
LAV Enterprise Hong Kong Limited
(“LAV Enterprise ”) Note 2
14,220,861 5.15% May 12, 2027
LAV Innovation (Hong Kong) Co., Limited ( “LAV Innovation ”) Note 2 8,789,975 3.18% May 12, 2027
LAV Integra Limited ( “LAV Integra ”) Note 2 6,846,397 2.48% May 12, 2027
LAV Impetus Limited
(“LAV Impetus ”) Note 2
6,725,827 2.44% May 12, 2027
Shanghai Lihan Biotechnology Partnership (Limited Partnership) ( ɪऎ
ҦΥྫΆุ (Υྫ ))
14,640,236 5.30% May 12, 2027
Suzhou Lirui Equity Investment Center (Limited Partnership) ( ᘽψᓿ๿
ᛆҳ༟ʕː (Υྫ ))
8,368,406 3.03% May 12, 2027
Suzhou Likang Equity Investment Centre (Limited Partnership) ( ᘽψᓿ
ᛆҳ༟ʕː (Υྫ ))
5,139,637 1.86% May 12, 2027
Shanghai Lihao Biotech, L.P. (ҦΥྫΆุ (Υྫ )) 2,290,116 0.83% May 12, 2027
Suzhou Lirun Equity Investment Centre (LP) (ᛆҳ༟ʕː (Ϟ
Υྫ))
2,125,370 0.77% May 12, 2027
Guangxi Tencent Venture Investment Co., Ltd. (ࠢ
ʮ̡) (“Tencent ”) Note 2
15,593,533 5.65% May 12, 2027
BOUNDLESS CREEK, LLC 10,875,618 3.94% May 12, 2027
Wanquandao Biomedical Technology Partnership (Limited Partnership)
(ҦΥྫΆุ (Υྫ ))
4,274,984 1.55% May 12, 2027
Hangzhou Qianxishan Biopharmaceutical Technology Partnership
(Limited Partnership) (ҦΥྫΆุ (Υྫ ))
2,986,905 1.08% May 12, 2027
Wuhan Biolake China Summit Fund Partnership (Limited Partnership)
(ΥྫΆุ (Υྫ ))
4,362,991 1.58% May 12, 2027


--- page 11 ---
11
Name
Number of H 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 Note 1
Shanghai China Summit Zhixin Investment Partnership (Limited
Partnership) ( ɪऎശᏊ౽อҳ༟ΥྫΆุ (Υྫ ))
3,558,211 1.29% May 12, 2027
China Summit Capital Limited Partnership 2,290,117 0.83% May 12, 2027
Homeric Summit Capital Limited Partnership 2,290,117 0.83% May 12, 2027
Suzhou Gaotejia Xinyin Huixin Equity Investment Partnership (Limited
Partnership) (ᛆҳ༟ΥྫΆุ (Υྫ ))
8,615,202 3.12% May 12, 2027
Shanghai Yunan Enterprise Management Partnership (Limited
Partnership) ( ɪऎᚑ฻Άุ၍ଣΥྫΆุ (Υྫ ))
4,580,233 1.66% May 12, 2027
Guangzhou Yuexiu Bioindustry Venture Capital Limited Partnership
(Limited Partnership) (ΥྫΆุ (ࠢ
Υྫ))
3,588,778 1.30% May 12, 2027
Yangzhou Guojin Yingpai Biomedical Venture Capital Partnership
(Limited Partnership) (ᔼᖹ௴ุҳ༟ΥྫΆุ (ࠢ
Υྫ))
7,944,585 2.88% May 12, 2027
Shanghai Junshi Biosciences Co., Ltd. (ࠢ
ʮ̡)
7,907,133 2.86% May 12, 2027
Beijing New Power Equity Investment Fund (Limited Partnership) ( ̏ԯ
ږ( Υྫ ))
6,030,642 2.18% May 12, 2027
Shanghai Kangjun Business Management Consulting Partnership
(Limited Partnership)( ɪऎੰ⪯Άุ၍ଣፔ༔ΥྫΆุ (Υྫ ))
6,030,649 2.18% May 12, 2027
Hainan Yuema Zhengchun Venture Investment Center (Limited
Partnership)
(௴ุҳ༟ʕː (Υྫ ))
4,307,601 1.56% May 12, 2027
Xiamen C&D Emerging Industries Equity Investment No. 7 Partnership
(Limited Partnership) (໮ΥྫΆุ (ࠢ
Υྫ))
4,013,156 1.45% May 12, 2027
Everspring GQ Investment Fund L.P. 3,664,188 1.33% May 12, 2027


--- page 12 ---
12
Name
Number of H 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 Note 1
WuXi AppTec Investment Fund I L.P. (ੰᅃɓಂҳ༟Άุ (Ϟ
Υྫ))
3,029,306 1.10% May 12, 2027
Gongqingcheng Ruiji Fund III Investment Partnership (Limited
Partnership) (๿Λɧಂҳ༟ΥྫΆุ (Υྫ ))
2,372,140 0.86% May 12, 2027
Dingxin Capital Biotech Ventures Limited 2,290,116 0.83% May 12, 2027
Eagle Mind Investments Limited 2,290,116 0.83% May 12, 2027
Suzhou Industrial Park Sungent Bio-Venture Capital Investment
Enterprise (Limited Partnership) (௴ุҳ༟Ά
ุ(Υྫ ))
2,134,448 0.77% May 12, 2027
Hangzhou Haibang Medicine Valley Congzheng Venture Capital
Investment Partnership (Limited Partnership) (ψऎԞᖹԋ੽͍௴ุҳ
༟ΥྫΆุ (Υྫ ))
2,134,448 0.77% May 12, 2027
Ausun (Hong Kong) Industrial Co., Limited ( ෳജ(ಥ)ʮ̡ ) 1,581,427 0.57% May 12, 2027
AlphaTech Projects Limited 1,313,865 0.48% May 12, 2027
Lakeshore LSV Limited 853,380 0.31% May 12, 2027
Emerging Markets Healthcare Partners LLC 595,430 0.22% May 12, 2027
WWHCP Note 2 320,616 0.12% May 12, 2027
Subtotal 234,188,130 84.80%
Note:
1. The expiry date of the lock-up period shown in the table above is pursuant to the PRC Company Laws. The
required lock-up for existing Shareholders ends on May 12, 2027, being 12 months following the Listing
Date.
2. The numbers of Shares held by LAV Enterprise, LAV Innovation, LAV Integra, LAV Impetus, Tencent,
and WWHCP in the table above do not take into account the Shares to be subscribed by them and/or their
respective close associates in the Global Offering. The Company has applied to the Stock Exchange for, and
the Stock Exchange has granted to the Company, a consent under paragraph 1C (2) of Appendix F1 and a
waiver from strict compliance with the requirements under Rule 9.09(b) (where applicable) and Rule 10.04
of the Listing Rules to permit the Company to allocate such Offer Shares in the International Offering to
themselves and/or their respective close associates. For details, please refer to the sections headed “Allottees
with Waivers/Consents Obtained ” and “Others/Additional Information ” in this announcement.


--- page 13 ---
13
PLACEE CONCENTRATION ANALYSIS
Placees
* Numbers
of H 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 H Shares
are issued)
Allotment as
% of total
Offer Shares
(assuming
no exercise
of the
Overallotment
Option)
Allotment as
% of total
Offer Shares
(assuming the
Overallotment
Option is
exercised and
new H Shares
are issued)
Number of
H 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 H Shares
are issued)
Top 1 4,775,600 12.64% 10.84% 11.38% 9.89% 4,775,600 1.73% 1.69%
Top 5 19,576,400 51.82% 44.42% 46.64% 40.55% 35,169,933 12.74% 12.45%
Top 10 29,298,200 77.55% 66.47% 69.80% 60.69% 81,474,793 29.50% 28.84%
Top 25 42,363,400 112.13% 96.12% 100.92% 87.76% 101,486,688 36.75% 35.93%
Note:
* Ranking of placees is based on the number of H Shares allotted to the placees.
H SHAREHOLDERS CONCENTRATION ANALYSIS
H Shareholders
* Numbers
of H 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
H Shares
are issued)
Allotment as
% of
total Offer
Shares
(assuming
no exercise
of the
Overallotment
Option)
Allotment as
% of
total Offer
Shares
(assuming the
Overallotment
Option is
exercised
and new
H Shares
are issued)
Number of
H Shares
held upon
Listing
% of
total issued
H Shares
capital upon
Listing
(assuming no
exercise
of the Over-
allotment
Option)
% of
total issued
H Shares
capital upon
Listing
(assuming
the Over-
allotment
Option is
exercised
and new
H Shares
are issued)
Number
of Shares
held upon
Listing
Top 1 1,948,400 5.16% 4.42% 4.64% 4.04% 38,531,460 13.95% 13.64% 38,531,460
Top 5 5,842,200 15.46% 13.25% 13.92% 12.10% 132,279,750 47.90% 46.83% 132,279,750
Top 10 5,842,200 15.46% 13.25% 13.92% 12.10% 178,409,865 64.60% 63.16% 178,409,865
Top 25 23,231,200 61.49% 52.71% 55.34% 48.12% 246,155,878 89.13% 87.15% 246,155,878
Note:
* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.


--- page 14 ---
14
SHAREHOLDERS CONCENTRATION ANALYSIS
All Shareholders
* Numbers
of H 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 H Shares
are issued)
Allotment as
% of total
Offer Shares
(assuming
no exercise
of the
Overallotment
Option)
Allotment as
% of total
Offer Shares
(assuming the
Overallotment
Option is
exercised and
new H 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 H Shares
are issued)
Top 1 1,948,400 5.16% 4.42% 4.64% 4.04% 38,531,460 13.95% 13.64%
Top 5 5,842,200 15.46% 13.25% 13.92% 12.10% 132,279,750 47.90% 46.83%
Top 10 5,842,200 15.46% 13.25% 13.92% 12.10% 178,409,865 64.60% 63.16%
Top 25 23,231,200 61.49% 52.71% 55.34% 48.12% 246,155,878 89.13% 87.15%
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:
NO. OF
SHARES
APPLIED FOR
NO. OF
VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
ALLOTTED
OF THE TOTAL
NO. OF SHARES
APPLIED FOR
POOL A
200 67,375 1,010 out of 67,375 to receive 200 Shares 1.50%
400 31,423 487 out of 31,423 to receive 200 Shares 0.77%
600 7,145 114 out of 7,145 to receive 200 Shares 0.53%
800 4,135 68 out of 4,135 to receive 200 Shares 0.41%
1,000 5,633 96 out of 5,633 to receive 200 Shares 0.34%
1,200 2,889 51 out of 2,889 to receive 200 Shares 0.29%
1,400 2,481 45 out of 2,481 to receive 200 Shares 0.26%
1,600 2,331 43 out of 2,331 to receive 200 Shares 0.23%
1,800 2,223 43 out of 2,223 to receive 200 Shares 0.21%
2,000 21,604 422 out of 21,604 to receive 200 Shares 0.20%
3,000 5,244 115 out of 5,244 to receive 200 Shares 0.15%
4,000 6,287 153 out of 6,287 to receive 200 Shares 0.12%
5,000 2,883 77 out of 2,883 to receive 200 Shares 0.11%
6,000 1,867 55 out of 1,867 to receive 200 Shares 0.10%
7,000 1,308 41 out of 1,308 to receive 200 Shares 0.09%


--- page 15 ---
15
NO. OF
SHARES
APPLIED FOR
NO. OF
VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
ALLOTTED
OF THE TOTAL
NO. OF SHARES
APPLIED FOR
8,000 1,141 39 out of 1,141 to receive 200 Shares 0.09%
9,000 1,085 40 out of 1,085 to receive 200 Shares 0.08%
10,000 7,202 282 out of 7,202 to receive 200 Shares 0.08%
20,000 6,048 380 out of 6,048 to receive 200 Shares 0.06%
30,000 4,890 424 out of 4,890 to receive 200 Shares 0.06%
40,000 4,190 463 out of 4,190 to receive 200 Shares 0.06%
50,000 2,441 328 out of 2,441 to receive 200 Shares 0.05%
60,000 1,914 302 out of 1,914 to receive 200 Shares 0.05%
70,000 1,434 260 out of 1,434 to receive 200 Shares 0.05%
80,000 1,524 313 out of 1,524 to receive 200 Shares 0.05%
90,000 1,259 289 out of 1,259 to receive 200 Shares 0.05%
100,000 8,062 2,041 out of 8,062 to receive 200 Shares 0.05%
200,000 5,128 2,514 out of 5,128 to receive 200 Shares 0.05%
211,146 Total number of Pool A successful applicants: 10,495
POOL B
300,000 5,016 3,182 out of 5,016 to receive 200 Shares 0.04%
400,000 1,603 1,199 out of 1,603 to receive 200 Shares 0.04%
500,000 903 778 out of 903 to receive 200 Shares 0.03%
600,000 503 200 Shares 0.03%
700,000 397 200 Shares plus 33 out of 397 to receive additional
 200 Shares
0.03%
800,000 250 200 Shares plus 50 out of 250 to receive additional
 200 Shares
0.03%
900,000 184 200 Shares plus 57 out of 184 to receive additional
 200 Shares
0.03%
1,000,000 444 200 Shares plus 191 out of 444 to receive additional
 200 Shares
0.03%
1,250,000 227 200 Shares plus 162 out of 227 to receive additional
 200 Shares
0.03%
1,500,000 148 400 Shares 0.03%
1,750,000 127 400 Shares plus 35 out of 127 to receive additional
 200 Shares
0.03%
2,098,800 840 400 Shares plus 572 out of 840 to receive additional
 200 Shares
0.03%
10,642 Total number of Pool B successful applicants: 8,279
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.


--- page 16 ---
16
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 H 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 Offer Price in addition to any brokerage, AFRC transaction
levy, SFC transaction levy and Stock Exchange trading fee payable.


--- page 17 ---
17
OTHERS/ADDITIONAL INFORMATION
Allocation of H Shares to Certain Existing Shareholders and/or Their Close Associates
As Cornerstone Investors
The Company has applied to the Stock Exchange for, and the Stock Exchange has granted to the
Company, a consent under paragraph 1C (2) of Appendix F1 and a waiver from strict compliance
with the requirements under Rule 9.09(b) (where applicable) and Rule 10.04 of the Listing Rules
to permit H Shares in the International Offering to be placed to the Existing Shareholders and their
Close Associates to participate in the Global Offering as a cornerstone investor on the following
basis as set out in Paragraph 18 of Chapter 2.3 and Chapter 4.15 of the Guide, subject to the
conditions as follows:
(a) the Company will comply with the public float requirement under Rule 19A.13A of the
Listing Rules and the free float requirement under Rule 19A.13C of the Listing Rules;
(b) no preference in allocation has been, nor will be, given to WWHCP, LAV Star, LAV
Opportunities, Huang River, and Prosper High or its respective close associate(s) by virtue
of their relationship with the Company other than the preferential treatment of assured
entitlement at the Offer Price under a cornerstone investment and the terms of the cornerstone
investment agreement with WWHCP, LAV Star, LAV Opportunities, Huang River, and
Prosper High or its respective close associate(s) are substantially the same as the other
cornerstone investment agreements following the principles set out in Chapters 2.3 and 4.15
of the Guide;
(c) the Shares to be subscribed by and allocated to WWHCP, LAV Star, LAV Opportunities,
Huang River, and Prosper High under the Global Offering will be at the same Offer Price and
on substantially the same terms, or no more favorable than, the terms of the other cornerstone
investors (including being subject to a lock-up period of six months from the Listing Date)
and WWHCP, LAV Star, LAV Opportunities, Huang River, and Prosper High shall pay and
settle in full the consideration for the relevant Offer Shares before dealings commence on the
Listing Date;
(d) each of the Company, the Joint Sponsors and the Overall Coordinators has provided the Stock
Exchange with written confirmations in accordance with Chapters 2.3 and 4.15 of the Guide;
and
(e) the relevant information in respect of the allocation to WWHCP, LAV Star, LAV
Opportunities, Huang River, and Prosper High as Cornerstone Investors has been disclosed in
the allotment results announcement.
All allocations of Offer Shares to the Existing Shareholders and/or their close associates are in
compliance with all the conditions under the waiver and consent granted by the Stock Exchange.
Please refer to the section headed “Waivers and Exemptions – Consent and Waiver in respect of
Allocation of H Shares to Certain Existing Shareholders and/or Their Close Associates ” in the
Prospectus for further details of the waiver and consent.


--- page 18 ---
18
As Placees
The Company has applied to the Stock Exchange for, and the Stock Exchange has granted to the
Company, a consent under paragraph 1C (2) of Appendix F1 and a waiver from strict compliance
with the requirements under Rule 10.04 of the Listing Rules to permit H Shares in the International
Offering to be placed to the Existing Shareholders and their Close Associates to participate in the
Global Offering on the following basis as set out in Paragraph 18 of Chapter 2.3 and Chapter 4.15
of the Guide, subject to the conditions as follows:
(a) since none of the Permitted Participants, together with the involved existing Shareholder,
is, and will be, a core connected person of the Company, the allocation to the Permitted
Participants will not affect the Company ’s ability to satisfy the public float requirement under
Rule 19A.13A of the Listing Rules and the free float requirement under Rule 19A.13C of the
Listing Rules;
(b) to the best knowledge and belief of the Company and based on the confirmation required to
be submitted to the Stock Exchange, the Company will confirm to the Stock Exchange that
no preferential treatment has been, nor will be, given to any Permitted Participant by virtue
of its relationship with the Company in any allocation in the International Offering, and that
such allocation will not prejudice or unfairly treat any public investors in their investment
decision-making process;
(c) the Overall Coordinators will confirm to the Stock Exchange that, to the best of their
knowledge and belief, no preferential treatment has been, nor will be, given to any
Permitted Participant by virtue of its relationship with the Company in any allocation in the
International Offering and that such allocation will not prejudice or unfairly treat any public
investors in their investment decision-making process;
(d) each of the Company, the Joint Sponsors and the Overall Coordinators has provided the Stock
Exchange with written confirmations in accordance with Chapters 2.3 and 4.15 of the Guide;
and
(e) the relevant information in respect of the allocation to the Permitted Participants has been
disclosed in the allotment results announcement.
For details of the allocations of Offer Shares to the existing Shareholder and/or their close
associates, please refer to the section headed “Allotment Results Details – International Offering –
Allottees with Waivers/Consents Obtained ” in this announcement.


--- page 19 ---
19
Placing to a connected client with prior consent under paragraph 1C(1) of the Placing
Guidelines
Under the International Offering, certain Offer Shares were placed to a connected client of a
connected distributor pursuant to the Placing Guidelines. Details of the placement to this connected
client are set out below.
Connected Client
Connected
Distributor
Relationship
with the
Connected
Distributor
Whether the
Connected Client
will hold the
beneficial interests
of the Offer
Shares on a non-
discretionary basis
or discretionary
basis for
independent third
parties
Number of
Offer Shares
to be allocated
Approximate
percentage of
Offer Shares
in the Global
Offering (1)
Approximate
percentage of
the total issued
share capital
immediately
following
completion
of the Global
Offering (1)
Approximate
percentage of
Offer Shares
in the Global
Offering (2)
Approximate
percentage of
the total issued
share capital
immediately
following
completion
of the Global
Offering (2)
CICC Financial
Trading Limited
(“CICC FT ”)(3)
CICC HK CICC FT is a
member of the
same group of
companies as
CICC HK.
Non-discretionary 5,800 0.0138% 0.0021% 0.0120% 0.0021%
China Asset
Management (Hong
Kong) Limited
(“China AMC ”)(4)
CSB China AMC is a
member of the
same group of
companies as
CSB.
Discretionary 4,200 0.0100% 0.0015% 0.0087% 0.0015%


--- page 20 ---
20
Notes:
1. Assuming the Over-allotment Option is not exercised.
2. Assuming the Over-allotment Option is fully exercised.
3. CICC FT, which intends to participate in the International Offering as a placee, and China International
Capital Corporation Limited will enter into a series of cross border delta-one OTC swap transactions (the
“OTC Swaps ”) with each other and the ultimate clients (the “CICC FT Ultimate Clients ”), pursuant to
which CICC FT will hold the Offer Shares on a non-discretionary basis to hedge the OTC Swaps while the
economic risks and returns of the underlying Offer Shares are passed to the CICC FT Ultimate Clients subject
to customary fees and commissions. The OTC Swaps will be fully funded by the CICC FT Ultimate Clients.
During the terms of the OTC Swaps, all economic returns of the Offer Shares subscribed by CICC FT will
be passed to the CICC FT Ultimate Clients and all economic loss shall be borne by the CICC FT Ultimate
Clients through the OTC Swaps, and CICC FT will not take part in any economic return or bear any economic
loss in relation to the Offer Shares. The OTC Swaps are linked to the Offer Shares and the CICC FT Ultimate
Clients may request CICC FT to redeem it at their own discretion, upon which CICC FT shall dispose of the
Offer Shares and settle OTC Swaps in cash in accordance with the terms and conditions of the OTC Swap.
Despite that CICC FT will hold the legal title of the Offer Shares by itself, it will not exercise the voting
rights attaching to the relevant Offer Shares during the terms of the OTC Swaps according to its internal
policy. Each of the CICC FT Ultimate Clients for purpose of this placee subscription is an independent third
party of CICC FT, CICCHKS and the companies which are members of the same group of companies as each
of the Underwriters.
The details of the CICC FT Ultimate Client are as follows:
Name of CICC FT Ultimate Clients (1) Fund manager(s) (2)
Ultimate Beneficial
Owner ( “UBO”) of
Fund Manager
Limited Partner/Shareholding
holding 30% or more in the CICC FT
Ultimate Client
Yuanzheng Tianli No.3 Private Securities
Investment Fund (૴л 3໮ӷ෍ᗇՎ
ږ)
Beijing Hengde Era Fund
Management Co. Ltd. ( ̏ԯ㛬ᅃ
ʮ̡ )
N/A Not applicable as there is no limited
partner holding 30% or more
Yuanzheng Jinxin No.4 Private Securities
Investment Fund(ڦږּ4 ໮ӷ෍ᗇՎ
ږ
Beijing Hengde Era Fund
Management Co. Ltd. ( ̏ԯ㛬ᅃ
ʮ̡ )
N/A Not applicable as there is no limited
partner holding 30% or more
Hengde Jinze E49 Private Securities Investment
Fund (ዣ E49 ږ)
Beijing Hengde Era Fund
Management Co. Ltd. ( ̏ԯ㛬ᅃ
ʮ̡ )
N/A Tsinghua University Education
Foundation 3
Longrising Qiangshu Private Securities
Investment Fund ( ๕ᆀ᳅੶ዓӷ෍ᗇՎҳ༟
ږ)
Tibet Longrising Capital
Management Co., Ltd.( Гᔛ๕ᆀ
ʮ̡ )
ZENG Xiaojie ZENG Xiaojie (shareholding interests:
98.36%)
Longrising Qiangye Private Securities
Investment Fund ( ๕ᆀ᳅੶ุӷ෍ᗇՎҳ༟
ږ)
Tibet Longrising Capital
Management Co., Ltd.( Гᔛ๕ᆀ
ʮ̡ )
ZENG Xiaojie ZENG Xiaojie (shareholding interests:
42.31%)
To the best knowledge, information and belief of CICC FT after due enquiry, (i) the CICC FT Ultimate
Clients are independent third parties of CICC FT, CICC HK and the companies which are members of the
same group of CICC HK; (ii) the ultimate beneficial owners holding 30% or more interest of the CICC FT
Ultimate Clients as set out below, each of which is an independent third party of the CICC FT, CICC HK and
the companies which are members of the same group of CICC HK; and (iii) the CICC FT Ultimate Clients
are independent third parties of the Company, the subsidiaries, and substantial shareholders of the Company.
(1) English Names are for identification purpose only.
(2) English Names are for identification purpose only.
(3) As Tsinghua University Education Foundation (ึ ) is a non-profit organization (NGO), it does not have any equity
holders or ultimate beneficial owners. Its primary funding comes from social donations.


--- page 21 ---
21
4. CSB is a sub-distributor of the Global Offering. China AMC will hold the Offer Shares in its capacity
as the discretionary fund manager managing assets on behalf of its underlying clients, each of which
is an independent third party ( “China AMC Ultimate Clients ”). CSB is a wholly owned subsidiary of
CITIC Securities Company Limited (a company listed on the Stock Exchange, stock code: 6030 “CITIC
Securities ”), China AMC is controlled as to 62.2% by CITIC Securities. Therefore, China AMC is a member
of the same group of companies as CSB Connected Distributors.
The details of the China AMC Ultimate Clients are as follow:
Name of China AMC
Ultimate Clients Fund manager(s)
UBO of Fund
Manager
Limited Partner/Shareholding holding
30% or more in the China AMC
Ultimate Clients
CHINAAMC SELECT GREATER
 CHINA TECHNOLOGY FUND
China Asset Management
(Hong Kong) Limited
CITIC Securities Futu Securities International (Hong
Kong) Limited (wholly-owned by Futu
Holdings Limited, FUTU.O/NASDAQ)
-client account
CHINAAMC FUND China Asset Management
(Hong Kong) Limited
CITIC Securities Not applicable as there is no limited
partner holding 30% or more
CHINAAMC CHINA
 FOCUS FUND
China Asset Management
(Hong Kong) Limited
CITIC Securities Manulife (International) Limited (wholly-
owned by Manulife Financial Corp,
MFC.TO/0045.HK)
CHINAAMC CHINA
 GROWTH FUND
China Asset Management
(Hong Kong) Limited
CITIC Securities Yuanta Securities (HK) Company LTD)
(wholly-owned by Yuanta Financial
Holding, 2885.TW)-client account
HKCINDAM China Asset Management
(Hong Kong) Limited
CITIC Securities China Cinda (HK) Asset Management CO.,
LTD (wholly-owned by China Cinda
Asset Management Co., LTD, 1359.HK)
To the best knowledge of China AMC and after making all reasonable enquiries, China AMC Ultimate Client,
together with its ultimate beneficial owners, is an independent third party of the Company, its subsidiaries, its
substantial shareholders, China AMC, CSB, CITIC Securities and the companies which are members of the
same group of companies as each of the Overall Coordinators and Underwriters, respectively.
5. Each of the Connected Clients is not a collective investment scheme which is not authorized by the SFC, nor
is expected to hold the Offer Shares on behalf of such scheme.
The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a
consent under paragraph 1C(1) of the Placing Guidelines to permit the Company to allocate such
Offer Shares in the International Offering to the connected client listed above. The allocation of
Offer Shares to such connected client is in compliance with all the conditions under the consent
granted by the Stock Exchange.


--- page 22 ---
22
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
to sell or solicitation to purchase or subscribe for securities in the United States or in any other
jurisdictions in which such offer or solicitation would be unlawful. 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 any state securities law of the
United States. The securities may not be offered, sold, pledged or transferred within the United
States ,except in transactions exempt from, or not subject to, 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 the Offer Shares in the United States.
The Offer Shares are being offered and 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 offshore transactions in reliance on
Regulation S under the U.S. Securities Act and applicable laws of each jurisdiction where those
offers and sales occur.
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 May 5, 2026 issued by IMPACT Therapeutics, Inc (ی
ʮ̡ ) for detailed information about the Global Offering described below
before deciding whether or not to invest in the H Shares thereby being offered.
* Potential investors of the Offer Shares should note that the Overall Coordinators (for
themselves and on behalf of the Hong Kong Underwriters) shall be entitled to terminate their
obligations under the Hong Kong Underwriting Agreement with immediate effect upon the
occurrence of any of the events set out in the paragraph headed “Underwriting – 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 May 13, 2026).


--- page 23 ---
23
PUBLIC FLOAT AND FREE FLOAT
Immediately following the completion of the Global Offering (before any exercise of the
Over-Allotment Option), the expected market capitalization of the Company ’s H Shares would be
approximately HK$5,551 million, calculated based on the final Offer Price of HK$20.10. Under
Rule 19A.13A(1), the minimum public float of the Company shall be 25% based on the final Offer
Price of HK$20.10. The total number of listed H Shares held by the public (being 157,586,496 H
Shares) represents approximately 57.06% of the total issued Shares of the Company upon Listing,
taking into account the actual number of Offer Shares allocated to cornerstone investors that are
core connected Shareholders. For details of the Shares held by certain of our Shareholders which
shall not be counted towards the public float, see “History, Development and Corporate Structure
– Capitalization ” in the Prospectus for details. Therefore, the Company will be able to meet the
minimum public float requirement under Rule 19A.13A.
Immediately following the completion of the Global Offering (before any exercise of the
Over-allotment Option) and based on the final Offer Price of HK$20.10 per Offer Share, the
expected market value of the H Shares held by the public and not subject to disposal restrictions
will be approximately HK$563.7 million, representing approximately 10.16% of the total issued
Shares of the Company upon Listing. As such, the Company will be able to satisfy the free float
requirement under Rule 19A.13C(1)(a) of the Listing Rules.
The Directors confirm that immediately following the completion of the Global Offering (before
any exercise of the Over-allotment Option), (i) no placee will, individually, be placed more than
10% of the enlarged issued share capital of the Company immediately after the Global Offering;
(ii) there will not be any new substantial Shareholder immediately after the Global Offering; (iii)
the three largest public shareholders of the Company do not hold more than 50% of the H Shares
in public hands at the time of the Listing in compliance with Rules 8.08(3) and 8.24 of the Listing
Rules; and (iv) there will be at least 300 Shareholders at the time of the Listing in compliance with
Rule 8.08(2) of the Listing Rules.
COMMENCEMENT OF DEALINGS
The H Share certificates will only become valid evidence of title at 8:00 a.m. on Wednesday, May
13, 2026 (Hong Kong time), provided that the Global Offering has become unconditional and the
right of termination described in the section headed “Underwriting – Underwriting Arrangements –
Hong Kong Public Offering – Grounds for Termination ” in the Prospectus has not been exercised.
Investors who trade the H Shares on the basis of publicly available allocation details prior to the
receipt of H Share certificates or prior to the H Share certificates becoming valid evidence of title
do so entirely at their own risk.


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Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. on Wednesday,
May 13, 2026 (Hong Kong time), it is expected that dealings in the H Shares on the Stock
Exchange will commence at 9:00 a.m. on Wednesday, May 13, 2026 (Hong Kong time). The H
Shares will be traded in board lots of 200 H Shares each, and the stock code of the H Shares will
be 7630.
By order of the Board
IMPACT Therapeutics, Inc
Dr. Sui Xiong CAI
Executive Director and Chief Executive Officer
Hong Kong, May 12, 2026
As at the date of this announcement, the Board comprises (i) Dr. Sui Xiong CAI, Dr. Ye Edward
TIAN and Ms. Ning MA as executive directors; (ii) Dr. Cong XU, Dr. Qiang XU and Mr. Tao LIU
as non-executive directors; and (iii) Dr. Edward Ming GUO, Mr. Chi Hung SIU and Dr. Liming
SHAO as proposed independent non-executive directors.
