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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. 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, or outside the United States unless
in compliance with Regulation S under the U.S. Securities Act. There will be no public offer of securities in the United
States.
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
December 15, 2025 (the “Prospectus ”) issued by Hanx Biopharmaceuticals (Wuhan) Co., Ltd. (߅
Ҧ(ဏ)ʮ̡ ) (the “Company ”) for detailed information about the Global Offering described below before
deciding whether or not to invest in the Offer Shares. Any investment decision in relation to the Offer Shares should
be taken solely in reliance on the information in the Prospectus. The Company has not been and will not be registered
under the U.S. Investment Company Act of 1940, as amended.
Unless otherwise defined in this announcement, capitalised terms used herein shall have the same meanings as those
defined in the Prospectus.
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 and Expenses – 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
Tuesday, December 23, 2025).


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Hanx Biopharmaceuticals (Wuhan) Co., Ltd.
Ҧ (ဏ)ʮ̡
(A joint stock company incorporated in the People ’s Republic of China with limited liability)
GLOBAL OFFERING
Number of Offer Shares under the
Global Offering
: 18,321,000 H Shares
Number of Hong Kong Offer Shares : 1,832,100 H Shares
Number of International Offer Shares : 16,488,900 H Shares
Final Offer Price : HK$32.00 per H Share plus brokerage of
1%, SFC transaction levy of 0.0027%,
AFRC transaction levy of 0.00015%
and the Stock Exchange trading fee of
0.00565% (payable in full on application
in Hong Kong dollars, subject to refund)
Nominal value : RMB0.1 per H Share
Stock code : 3378
Sole Sponsor, Overall Coordinator, Joint Global Coordinator and Joint Bookrunners
Overall Coordinators, Joint Global Coordinators and Joint Bookrunners
Joint Global Coordinators and Joint Bookrunners
Joint Bookrunners


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Hanx Biopharmaceuticals (Wuhan) Co., Ltd.
Ҧ (ဏ)ʮ̡
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 December 15, 2025 (the “Prospectus ”) issued
by Hanx Biopharmaceuticals (Wuhan) Co., Ltd. Ҧ (ဏ)ʮ̡ (the
“Company ”).
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.
SUMMARY
Company information
Stock code 3378
Stock short name HANXBIO-B
Dealings commencement date December 23, 2025 #
# see note at the end of the announcement
Price Information
Final Offer Price HK$32.00
Offer Shares and Share Capital
Number of Offer Shares 18,321,000
Number of Offer Shares in Hong Kong Public Offering 1,832,100
Number of Offer Shares in International Offering 16,488,900
Number of issued shares upon Listing 136,218,830
Over-allocation
Number of Offer Shares over-allocated 0
The Overall Coordinators confirmed that there has been no over-allocation of the Offer Shares
in the International Offering. Therefore, it is expected that the Over-allotment Option will not be
exercised.
Proceeds
Gross proceeds (Note) HK$586.3 million
Less: Estimated listing expenses payable based on Final
Offer Price
HK$55.0 million
Net proceeds HK$531.3 million
Note: Gross proceeds refers to the amount which the issuer is entitled to receive. For details of the use of proceeds, please refer to the Prospectus dated December 15, 2025.


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4
ALLOTMENT RESULTS DETAILS
HONG KONG PUBLIC OFFERING
No. of valid applications 139,704
No. of successful applications 17,689
Subscription level 3,074.09 times
Claw-back triggered Nil
No. of Offer Shares initially available under the Hong Kong
Public Offering
1,832,100
Final no. of Offer Shares under the Hong Kong Public Offering 1,832,100
% of final number of Offer Shares under the Hong Kong Public Offering
to the Global Offering
10.00%
Note: For details of the final allocation of Shares to the Hong Kong Public Offering, investors can refer to
https://www.hkeipo.hk/iporesult  to perform a search by identification number or https://www.hkeipo.hk/iporesult  for
the full list of allottees.
INTERNATIONAL OFFERING
No. of placees 65
Subscription Level 5.78 times
No. of Offer Shares initially available under the International Offering 16,488,900
Final no. of Offer Shares under the International Offering 16,488,900
% of final number of Offer Shares under the International
Offering to the Global Offering
90.00%
The Directors confirm that, to the best of their knowledge, information and belief, (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, Supervisors chief executive of the Company, controlling
Shareholders, 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, Supervisors, chief executive of the Company, Controlling Shareholders, 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 Shares
registered in his/her/its name or otherwise held by him/her/it.


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5
The placees in the International Offering include the following:
Cornerstone Investors
Investor  Note
No. of Offer
Shares
allocated
% of Offer
Shares
% of total
issued H share
capital after
the Global
Offering  Note (1)
% of total
issued share
capital after
the Global
Offering  Note (1)
Existing
Shareholders
or their close
associates
Fund Resources Investment
Holding Group Company
Limited
1,216,100 6.64% 0.89% 0.89% No
Sage Partners Master Fund     364,800 1.99% 0.27% 0.27% No
Guotai Junan Investments
(Hong Kong) Limited
(“GTINV ”) (in connection
with the Kunyang OTC
Swaps)
343,700 1.88% 0.25% 0.25% No
TFI Investment Fund SPC
(acting for and on behalf of
its segregated portfolio, TFI
Lakeside SP)
312,500 1.71% 0.23% 0.23% No
Main Source Capital Limited 312,500 1.71% 0.23% 0.23% No
YStem Holding Limited 243,200 1.33% 0.18% 0.18% No
Awaken Thunder Capital
Limited
125,000 0.68% 0.09% 0.09% No
Total 2,917,800 15.93% 2.14% 2.14% –
Notes:
(1) The calculation is based on the total number of 136,218,830 H Shares in issue upon Listing (comprising (i)
an aggregate of 117,897,830 Shares to be converted from Unlisted Shares; and (ii) 18,321,000 Shares to be
issued pursuant to the Global Offering).
(2) For further details of the Cornerstone Investors, please refer to the section headed “Cornerstone Investors ” in
the Prospectus.


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6
Allottees with waivers/consents obtained
Investor
No. of Offer
Shares allocated
% of Offer
Shares
% of total issued
H Shares after
the Global
Offering Note (1)
% of total issued
share capital
after the Global
Offering Note (1) Relationship Note (2)
Allottees with consent under paragraphs 1C(1) and 1B(7) of the Placing Guidelines and paragraphs 5 and 6 of Chapter 4.15 of the
Guide for New Listing Applicants in relation to allocations to connected clients
GTINV 1,739,000 9.49% 1.28% 1.28% Connected client
Huatai Capital Investment
Limited ( “HTCI”)
1,555,200 8.49% 1.14% 1.14% Connected client
Total 3,294,200 17.98% 2.42% 2.42% –
Notes:
(1) The calculation is based on the total number of 136,218,830 H Shares in issue upon Listing (comprising (i)
an aggregate of 117,897,830 Shares to be converted from Unlisted Shares; and (ii) 18,321,000 Shares to be
issued pursuant to the Global Offering).
(2) For details of the consent under paragraphs 1C(1) and 1B(7) of the Placing Guidelines and paragraphs 5 and 6
of Chapter 4.15 of the Guide for New Listing Applicants in relation to allocations to connected clients, please
refer to the section headed “Others/Additional Information – Placing to connected clients with prior consents
under paragraphs 1C(1) and 1B(7) of the Placing Guidelines ” in this announcement.
LOCK-UP UNDERTAKINGS
Controlling Shareholders
Name
Number of
shares held in
the Company
subject to lock-
up undertakings
upon listing
Number of
shares in the
Company
held through
controlled
corporation and
subject to lock-
up undertakings
upon Listing
Number of H
shares in the
Company held
in the Company
or through
controlled
corporation and
subject to lock-
up undertakings
upon Listing
% of total
issued H-shares
after the Global
Offering subject
to lock-up
undertakings
upon
listing  Note (1)
% of
shareholding in
the Company
subject to lock-
up undertakings
upon
listing  Note (1)
Last day
subject to
the lock-up
undertakings
Note (5)
Cai Zhang Biotechnology
(Hangzhou) Co., Ltd. ( “CZ
Biotechnology ”) Note (2)
55,300,000 – 55,300,000 40.60% 40.60% December 22,
2026
Zhang Faming Note (2) – 55,300,000 55,300,000 40.60% 40.60% December 22,
2026
Luo Fang Note (2) – 55,300,000 55,300,000 40.60% 40.60% December 22,
2026


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7
Name
Number of
shares held in
the Company
subject to lock-
up undertakings
upon listing
Number of
shares in the
Company
held through
controlled
corporation and
subject to lock-
up undertakings
upon Listing
Number of H
shares in the
Company held
in the Company
or through
controlled
corporation and
subject to lock-
up undertakings
upon Listing
% of total
issued H-shares
after the Global
Offering subject
to lock-up
undertakings
upon
listing  Note (1)
% of
shareholding in
the Company
subject to lock-
up undertakings
upon
listing  Note (1)
Last day
subject to
the lock-up
undertakings
Note (5)
Hanx Biopharmaceuticals
(HK) Limited ( “Hanx
Biopharmaceuticals
(HK)”) Note (3)
17,793,640 – 17,793,640 13.06% 13.06% December 22,
2026
Caizhang Vision Limited Note (3) – 17,793,640 17,793,640 13.06% 13.06% December 22,
2026
HanX Biopharmaceuticals
Limited ( “HanX
Biopharmaceuticals ”) Note (3)
– 17,793,640 17,793,640 13.06% 13.06% December 22,
2026
HanXBio (BVI) Limited
(“HanxBio (BVI) ”) Note (3)
– 17,793,640 17,793,640 2.24% 2.24% December 22,
2026
Wuhan Hanx Tai Management
Consulting Partnership
(Limited Partnership) ( “Wuhan
Hanx”) Note (4)
3,045,070 – 3,045,070 2.24% 2.24% December 22,
2026
Total 76,138,710 55.89% 55.89% –
Notes:
(1) The calculation is based on the total number of 136,218,830 H Shares in issue upon Listing (comprising (i)
an aggregate of 117,897,830 Shares to be converted from Unlisted Shares; and (ii) 18,321,000 Shares to be
issued pursuant to the Global Offering).
(2) CZ Biotechnology is legally and beneficially owned as to 99.9% by Dr. Zhang and 0.1% by Ms. Luo Fang.
CZ Biotechnology, Ms. Luo Fang and Dr. Zhang are considered as a group of controlling shareholders of our
Group pursuant to the Listing Rules.
(3) Hanx Biopharmaceuticals (HK) is controlled by HanxBio (BVI), which is in turn controlled by Hanx
Biopharmaceuticals. Hanx Biopharmaceuticals is controlled by Caizhang Vision, which is controlled by Dr.
Zhang.
(4) Wuhan Hanx is owned as to 75% by CZ Biotechnology, who is also the general partner of Wuhan Hanx.
(5) The expiry date of the lock-up period shown in the table above is pursuant to the statutory lock-up
requirements under the PRC Company Law.


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8
Cornerstone Investors
Name
Number of
shares held in
the Company
subject to lock-
up undertakings
upon listing
Number of H
Shares held in
the Company
subject to lock-
up undertakings
upon listing
% of total issued
H-shares after the
Global Offering
subject to lock-
up undertakings
upon listing  Note (1)
% of shareholding
in the Company
subject to lock-
up undertakings
upon listing  Note (1)
Last day subject
to the lock-up
undertakings  Note (3)
Fund Resources Investment Holding
Group Company Limited
1,216,100 1,216,100 0.88% 0.88% June 22, 2026
Sage Partners Master Fund 364,800 364,800 0.26% 0.26% June 22, 2026
GTINV (in connection with the
Kunyang OTC Swaps)
343,700 343,700 0.25% 0.25% June 22, 2026
TFI Investment Fund SPC (acting
for and on behalf of its segregated
portfolio, TFI Lakeside SP)
312,500 312,500 0.22% 0.22% June 22, 2026
Main Source Capital Limited 312,500 312,500 0.22% 0.22% June 22, 2026
YStem Holding Limited 243,200 243,200 0.18% 0.18% June 22, 2026
Awaken Thunder Capital Limited 125,000 125,000 0.09% 0.09% June 22, 2026
Total 2,917,800 2,917,800 2.10% 2.10% –
Notes:
(1) The calculation is based on the total number of 136,218,830 H Shares in issue upon Listing (comprising (i)
an aggregate of 117,897,830 Shares to be converted from Unlisted Shares; and (ii) 18,321,000 Shares to be
issued pursuant to the Global Offering).
(2) In accordance with the relevant cornerstone investment agreements, the required lock-up ends on June 22,
2026. The Cornerstone Investors will cease to be prohibited from disposing of or transferring H Shares after
the indicated date.
(3) For further details of the Cornerstone Investors, please refer to the section headed “Cornerstone Investors ” in
the Prospectus.


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9
Pre-IPO Investors (as defined in the “History and Corporate Structure ” section of the
Prospectus)
Name
Number of
shares held in
the Company
subject to lock-
up undertakings
upon listing
Number of H
Shares held in
the Company
subject to lock-
up undertakings
upon listing
% of total issued
H-shares after the
Global Offering
subject to lock-
up undertakings
upon listing  Note (1)
% of shareholding
in the Company
subject to lock-
up undertakings
upon listing  Note (1)
Last day subject
to the lock-up
undertakings Note (3)
Hangzhou Hongye Ruiji Investment
Partnership (Limited Partnership)*
(ุြΛҳ༟ΥྫΆุ (ࠢ
Υྫ))
12,860,470 12,860,470 9.44% 9.44% December 22, 2026
Beijing Lapam Biopharmaceutical
Venture Capital Center (Limited
Partnership)* (ᔼᖹ
௴ุҳ༟ʕː (Υྫ ))Note (2)
12,860,470 12,860,470 9.44% 9.44% December 22, 2026
Tibet Lapam Small and Medium
Enterprise Development Fund
Equity Investment Partnership
(Limited Partnership)* ( ГᔛᎲᇂ
ᛆҳ༟Υྫ
(Υྫ ))Note (2)
1,195,620 1,195,620 0.88% 0.88% December 22, 2026
Betta Pharmaceuticals Co., Ltd. 6,430,230 6,430,230 4.72% 4.72% December 22, 2026
Wuhan Donggaorensi Equity
Investment Partnership (Limited
Partnership)* (ٰܠ
ᛆҳ༟ΥྫΆ ุ(Υྫ ))
3,416,060 3,416,060 2.51% 2.51% December 22, 2026
Hangzhou Taikun Equity Investment
Fund Partnership (Limited
Partnership) (ᛆҳ༟ਿ
ΥྫΆุ (Υྫ ))
2,562,050 2,562,050 1.88% 1.88% December 22, 2026
Yangtze Investment (HK) Limited 1,804,020 1,804,020 1.32% 1.32% December 22, 2026
Lapam Capital HK Co., Limited Note (2) 596,040 596,040 0.44% 0.44% December 22, 2026
Xiao Jieyu 11,100 11,100 0.0081% 0.0081% December 22, 2026
Zou Zhiyong 1,710 1,710 0.0013% 0.0013% December 22, 2026
Liao Tong 21,350 21,350 0.0157% 0.0157% December 22, 2026
Total 41,759,120 41,759,120 30.66% 30.66% –
Note:
(1) The calculation is based on the total number of 136,218,830 H Shares in issue upon Listing (comprising (i)
an aggregate of 117,897,830 Shares to be converted from Unlisted Shares; and (ii) 18,321,000 Shares to be
issued pursuant to the Global Offering).
(2) Beijing Lapam, Tibet Lapam and Lapam Capital are companies controlled by Mr. Yu, a director of and a
board representative of Beijing Lapam in Hangzhou Hanx, or his close associate.
(3) The expiry date of the lock-up period shown in the table above is pursuant to the statutory lock-up
requirements under the PRC Company Law.


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10
PLACEE CONCENTRATION ANALYSIS
Placees
Number of
H Shares
allotted
Allotment
as % of
International
Offering
Allotment
as % of
total Offer
Shares
Number
of Shares
held upon
Listing
% of total
issued share
capital upon
Listing
Top 1 2,435,000 14.77% 13.29% 2,435,000 1.79%
Top 5 7,202,800 43.68% 39.31% 7,202,800 5.29%
Top 10 10,567,800 64.09% 57.68% 10,567,800 7.76%
Top 25 14,431,300 87.52% 78.77% 14,431,300 10.59%
Note:
1. Ranking of placees is based on the number of H Shares allotted to the placees.
H SHAREHOLDERS CONCENTRATION ANALYSIS
H Shareholders
Number of
H Shares
allotted
Allotment
as % of
International
Offering
Allotment as
% of total
Offer Shares
Number of H
Shares held
upon Listing
% of total
issued H
Shares capital
upon Listing
Number of
Shares held
upon Listing
Top 1 0 0.00% 0.00% 76,138,710 55.89% 76,138,710
Top 5 0 0.00% 0.00% 113,497,600 88.32% 113,497,600
Top 10 4,867,200 29.52% 26.57% 122,730,870 90.10% 122,730,870
Top 25 13,089,600 79.38% 71.45% 130,953,270 96.13% 130,953,270
Note:
1. Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.
SHAREHOLDER CONCENTRATION ANALYSIS
Shareholders
Number of
H Shares
allotted
Allotment
as % of
International
Offering
Allotment as
% of total
Offer Shares
Number of H
Shares held
upon Listing
Number of
Shares held
upon Listing
% of total
issued share
capital upon
Listing
Top 1 0 0.00% 0.00% 76,138,710 76,138,710 55.89%
Top 5 0 0.00% 0.00% 113,497,600 113,497,600 88.32%
Top 10 4,867,200 29.52% 26.57% 122,730,870 122,730,870 90.10%
Top 25 13,089,600 79.38% 71.45% 130,953,270 130,953,270 96.13%
Note:
1. Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.


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11
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
H SHARES
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
ALLOTTED OF
THE TOTAL
NO. OF
H SHARES
APPLIED FOR
POOL A
100 35,303 354 OUT OF 35,303 applicants to receive 100 Shares 1.00
200 7,318 107 OUT OF 7,318 applicants to receive 100 Shares 0.73
300 25,336 459 OUT OF 25,336 applicants to receive 100 Shares 0.60
400 2,536 54 OUT OF 2,536 applicants to receive 100 Shares 0.53
500 2,610 63 OUT OF 2,610 applicants to receive 100 Shares 0.48
600 1,780 47 OUT OF 1,780 applicants to receive 100 Shares 0.44
700 1,253 36 OUT OF 1,253 applicants to receive 100 Shares 0.41
800 1,061 33 OUT OF 1,061 applicants to receive 100 Shares 0.39
900 1,521 50 OUT OF 1,521 applicants to receive 100 Shares 0.37
1,000 7,041 245 OUT OF 7,041 applicants to receive 100 Shares 0.35
1,500 7,144 309 OUT OF 7,144 applicants to receive 100 Shares 0.29
2,000 2,044 104 OUT OF 2,044 applicants to receive 100 Shares 0.25
2,500 1,316 75 OUT OF 1,316 applicants to receive 100 Shares 0.23
3,000 1,687 106 OUT OF 1,687 applicants to receive 100 Shares 0.21
3,500 1,049 72 OUT OF 1,049 applicants to receive 100 Shares 0.20
4,000 855 63 OUT OF 855 applicants to receive 100 Shares 0.18
4,500 560 44 OUT OF 560 applicants to receive 100 Shares 0.17
5,000 1,336 111 OUT OF 1,336 applicants to receive 100 Shares 0.17
6,000 1,115 102 OUT OF 1,115 applicants to receive 100 Shares 0.15
7,000 848 85 OUT OF 848 applicants to receive 100 Shares 0.14
8,000 727 78 OUT OF 727 applicants to receive 100 Shares 0.13
9,000 639 73 OUT OF 639 applicants to receive 100 Shares 0.13
10,000 4,751 572 OUT OF 4,751 applicants to receive 100 Shares 0.12
20,000 2,935 514 OUT OF 2,935 applicants to receive 100 Shares 0.09
30,000 2,285 498 OUT OF 2,285 applicants to receive 100 Shares 0.07
40,000 1,704 434 OUT OF 1,704 applicants to receive 100 Shares 0.06
50,000 1,310 376 OUT OF 1,310 applicants to receive 100 Shares 0.06
60,000 949 301 OUT OF 949 applicants to receive 100 Shares 0.05
70,000 978 337 OUT OF 978 applicants to receive 100 Shares 0.05
80,000 893 331 OUT OF 893 applicants to receive 100 Shares 0.05
90,000 777 307 OUT OF 777 applicants to receive 100 Shares 0.04
100,000 6,765 2,821 OUT OF 6,765 applicants to receive 100 Shares 0.04
Total 128,426 Total number of Pool A successful applicants: 9,161


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12
NO. OF
H SHARES
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
ALLOTTED OF
THE TOTAL
NO. OF
H SHARES
APPLIED FOR
POOL B
200,000 5,676 3,406 OUT OF 5,676 applicants to receive 100 Shares 0.03
300,000 1,527 1,176 OUT OF 1,527 applicants to receive 100 Shares 0.03
400,000 927 809 OUT OF 927 applicants to receive 100 Shares 0.02
500,000 731 720 OUT OF 731 applicants to receive 100 Shares 0.02
600,000 401 100 Shares 0.02
700,000 373 100 Shares plus 68 OUT OF 373 applicants to receive
 an additional 100 Shares
0.02
800,000 394 100 Shares plus 107 OUT OF 394 applicants to
 receive an additional 100 Shares
0.02
916,000 1,249 100 Shares plus 457 OUT OF 1,249 applicants to
 receive an additional 100 Shares
0.01
Total 11,278 Total number of Pool B successful applicants: 8,528
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.
OTHERS/ADDITIONAL INFORMATION
Placing to connected clients with prior consents under paragraphs 1C(1) and 1B(7) of the
Placing Guidelines
The Company has applied for, and the Stock Exchange has granted, consents under paragraph
1C(1) and 1B(7) of the Placing Guidelines to permit allocation to connected clients pursuant to the
Placing Guidelines. The allocation of Offer Shares to such connected clients is in compliance with
all the conditions under the consents granted by the Stock Exchange. Details of the placement to
connected clients (including the cornerstone tranche and placing tranche) are set out below.


--- page 13 ---
13
No.
Connected Distributor
Connected Client
Relationship
Whether the
Connected Client will hold the beneficial interests of the Offer Shares on a nondiscretionary
basis or discretionary basis for independent
third parties
Number of Offer
Shares to be allocated to the connected client
Approximate percentage of Offer Shares allocated to the
connected client
 Note (1)
Approximate
percentage of total issued share capital after the Global Offering
 Note (1)
1. Haitong International
Securities
Company Limited
(“HTI”)
GTINV (in
connection with
the Kunyang OTC
Swaps)
Note (2)
GTINV is a member
of same group of
HTI
Non-discretionary
basis
343,700 1.88% 0.25%
2. HTI GTINV (in
connection
with TRS
arrangement
with Hainan
Leixuan
Private
Equity Fund
Management
Partnership
(Limited
Partnership)*
(ᆾำӷ෍
၍ଣΥྫ
Άุ(Υ
ྫ)))
Note (3)
GTINV is a member
of same group of
HTI
Non-discretionary
basis
1,395,300 7.62% 1.02%
3. Huatai Financial
Holdings (Hong
Kong) Limited
(“HTFH”)
HTCI (in connection
with TRS
arrangement with
Leixuan Jinyang
Private Equity
Investment Fund*
(ජӷ෍ᗇ
ږ))
Note (4)
HTCI is a member
of same group of
HTFH
Non-discretionary
basis
1,039,700 5.67% 0.76%


--- page 14 ---
14
No.
Connected Distributor
Connected Client
Relationship
Whether the
Connected Client will hold the beneficial interests of the Offer Shares on a nondiscretionary
basis or discretionary basis for independent
third parties
Number of Offer
Shares to be allocated to the connected client
Approximate percentage of Offer Shares allocated to the
connected client
 Note (1)
Approximate
percentage of total issued share capital after the Global Offering
 Note (1)
4. HTFH HTCI (in
connection
with TRS
arrangement
with Aifang
Jinke No.
3 Private
Securities
Investment
Fund* (ږ
߅3 ໮ӷ෍ᗇ
ږ))
Note (4)
HTCI is a member
of same group of
HTFH
Non-discretionary
basis
485,500 2.65% 0.36%
5. HTFH HTCI (in
connection
with TRS
arrangement
with Xingchen
Aifang Multi-
Strategy No.
17 Private
Securities
Investment
Fund* (ԕʘ
Ў˙εഄଫ 17
໮ӷ෍ᗇՎҳ
ږ))
Note (4)
HTCI is a member
of same group of
HTFH
Non-discretionary
basis
30,000 0.16% 0.02%


--- page 15 ---
15
Note:
(1) The calculation is based on the total number of 136,218,830 H Shares in issue upon Listing (comprising (i) an
aggregate of 117,897,830 Shares to be converted from Unlisted Shares; and (ii) 18,321,000 Shares to be issued
pursuant to the Global Offering).
(2) For details regarding the consent obtained in respect of the allocations to GTINV as a connected client in
connection with the Kunyang OTC Swap under paragraphs 1C(1) and 1B(7) of the Placing Guidelines and
paragraphs 5 and 6 of Chapter 4.15 of the Guide for New Listing Applicants, please refer to the section headed
“Waivers from Strict Compliance with the Listing Rules and Exemption from Compliance with The Companies
(Winding Up And Miscellaneous Provisions) Ordinance – Consent in respect of the Proposed Subscription of
H Shares by a Connected Client – Guotai Junan Investments (Hong Kong) Limited (in connection with the
Kunyang OTC Swaps) ” in the Prospectus.
(3) GTINV shall hold the Offer Shares for hedging purpose as the single underlying asset of several sets of back-
to-back total return swap transaction (the “GTHT Back-to-back TRS ”) to be entered into between GTINV
and Guotai Haitong Securities Co., Ltd. (the “GTHT Onshore Parent ”) in connection with several total return
swap orders (the “GTHT Client TRS ”) to be entered into by GTHT Onshore Parent and Hainan Leixuan
Private Equity Fund Management Partnership (Limited Partnership)* (၍ଣΥྫΆุ Ϟ
Υྫ(the “GTHT Onshore Ultimate Client ”), respectively. Such GTHT Client TRS is to be fully funded
by the GTHT Onshore Ultimate Client. GTINV will hold the Offer Shares on a non-discretionary basis for the
purpose of hedging the economic exposure under the GTHT Back-to-back TRS and GTHT Client TRS only,
During the tenor of the GTHT Client TRS, all economic returns of the Offer Shares will be passed to the GTHT
Onshore Ultimate Client and all economic losses shall be borne by the GTHT Onshore Ultimate Client, subject
to the terms and conditions of the GTHT Back-to-back TRS and GTHT Client TRS, and GTINV will not take
part in any economic return or bear any economic loss in relation to the price of the Offer Shares. The GTHT
Onshore Ultimate Client may request to redeem the Offer Shares at their own discretion, upon which GTINV
shall dispose of the Offer Shares and settle the GTHT Back-to-back TRS and GTHT Client TRS in cash in
accordance with the terms and conditions of the GTHT Back-to-back TRS and GTHT Client TRS documents.
Due to its internal policy, GTINV will not exercise the voting right attaching to the Offer Shares during the
tenor of the GTHT Back-to-back TRS and GTHT Client TRS.  To the best knowledge of GTINV and after
making all reasonable enquiries, (i) Song Chengfei ( ҂༐ി) holds more than 30% in interest in the GTHT
Onshore Ultimate Client, (ii) the GTHT Onshore Ultimate Client and the ultimate beneficial owner holding 30%
or more interest of the GTHT Onshore Ultimate Client listed above is an independent third party of GTINV,
HTI and the companies which are members of the same group of companies as HTI.
(4) PRC investors are currently not permitted under applicable PRC laws to participate directly in initial public
offerings ( “IPOs”) in Hong Kong. However, PRC investors are permitted to invest in products issued by
appropriate domestic securities firms licensed to undertake cross-border derivatives trading activities. In
connection with such products, the licensed domestic securities firms, through their Hong Kong affiliates, may
participate in Hong Kong IPOs either as placees or cornerstone investors (the “Cross-border Derivatives
Trading Regime ”).
Huatai Securities Co., Ltd. ( “Huatai Securities ”), the shares of which are listed on both the Shanghai Stock
Exchange (stock code: 601688) and the Stock Exchange (stock code: 6886), is one of the domestic securities
firms licensed to undertake cross-border derivatives trading activities. Huatai Securities entered into an ISDA
agreement (the “ISDA Agreement ”) with its indirectly wholly-owned subsidiary, Huatai Capital Investment
Limited ( “HTCI”) to set out the principal terms of any future total return swap between Huatai Securities and
HTCI.
HTFH is a non-syndicate distributor in connection with the Global Offering. Pursuant to the ISDA Agreement,
HTCI, which intends to participate in the Global Offering as a placee, will hold the beneficial interest of the
Offer Shares on a non-discretionary basis as the single underlying holder under a back-to-back total return
swap (the “Back-to-back TRS ”) to be entered by HTCI in connection with a Client TRS (as defined below)
placed by and fully funded (i.e. with no financing provided by HTCI) by the Huatai Ultimate Client (as defined
below), by which, HTCI will, subject to customary fees and commissions, pass the full economic exposure of
the Offer Shares ultimately to the Huatai Ultimate Client, which in effect, HTCI will hold the beneficial interest
of the Offer Shares on behalf of the Huatai Ultimate Clients. HTFH, the non-syndicate distributor and HTCI
are indirectly wholly-owned subsidiaries of Huatai Securities. Accordingly, HTCI is considered as a “connected
client ” of HTFH pursuant to Paragraph 1B(7) of Appendix F1 of the Listing Rules.


--- page 16 ---
16
Pursuant to the Cross-border Derivatives Trading Regime, the onshore investors (the “Huatai Ultimate
Clients ”) cannot directly subscribe for the Offer Shares but may invest in derivative products issued by
domestic securities firms licenced to undertake cross-border derivatives trading activities, such as Huatai
Securities, with the Offer Shares as the underlying assets. Instead of directly subscribing for the Offer Shares,
the Huatai Ultimate Clients will, through their investment managers, place a total return swap order (the “Client
TRS”) with Huatai Securities in connection with the Company ’s IPO and Huatai Securities will place a Back-to-
back TRS order to HTCI on the terms of the ISDA Agreement. In order to hedge its exposure under the Back-
to-back TRS, HTCI participates in the Company ’s IPO and subscribes the Offer Shares through placing order
with HTFH during the International Offering.
To the best knowledge of HTCI and after making all reasonable enquiries, (i) the Huatai Ultimate Clients are (a)
Leixuan Jinyang Private Equity Investment Fund* (ږin which Song Chengfei ( ҂
༐ി) holds more than 30% interest, (b) Aifang Jinke No. 3 Private Securities Investment Fund* (߅ږ3໮
ږin which Leng Ling (ޛholds more than 30% interest, and (c) Xingchen Aifang Multi-
Strategy No. 17 Private Securities Investment Fund* (ԕʘЎ˙εഄଫ 17ږin which Min
Yuan ( ඘଀) and Huang Yuan ( ර๕) hold more than 30% interest; (ii) each of the Huatai Ultimate Clients is
an independent third parties of the Company, its subsidiaries and substantial shareholders, HTFH, HTCI, and
the companies which are members of the same group of companies as HTFH, and (ii) HTCI is not a collective
investment scheme which is not authorised by the SFC nor is expected to hold the Offer Shares on behalf of
such scheme.
The purpose of HTCI to subscribe for the Offer Shares is for hedging the Back-to-back TRS in connection
with the Client TRS order placed by the Huatai Ultimate Clients. Pursuant to the terms of the contracts of the
Back-to-back TRS and the Client TRS, during the tenor of the Back-to-back TRS and the Client TRS, subject
to customary fees and commissions, all economic returns of the Offer Shares will be ultimately passed to the
Huatai Ultimate Clients through the Back-to-back TRS and the Client TRS and all economic loss shall be
ultimately borne by the Huatai Ultimate Clients. HTCI will not take any economic return or bear any economic
loss in relation to the Offer Shares.
Investment in the Back-to-back TRS and the Client TRS is similar to the investment in a qualified domestic
institutional investor fund ( “QDII”) in the way that the Huatai Ultimate Clients would reap all the economic
benefits of the underlying Offer Shares, except that a QDII fund would pass through the exchange rate exposure
on both the notional value of the investment and the profit and loss of the investment. In contrast, the profit and
loss of the Back-to-back TRS and the Client TRS factor into account the fluctuation in RMB exchange rate upon
termination of the Client TRS by converting the profit and loss using the current exchange rate at the time of
termination. As such, the Huatai Ultimate Clients would bear the exchange rate exposure of the profit and loss
on settlement date.
The Huatai Ultimate Clients may exercise an early termination right to terminate the Client TRS at any time
from the issue date of the Client TRS which should be on or after the date on which the Offer Shares are listed
on the Stock Exchange at its own discretion. Upon the termination upon maturity or early termination of the
Client TRS by the Huatai Ultimate Clients, HTCI will dispose of the Offer Shares on the secondary market and
the Huatai Ultimate Clients will receive a final settlement amount in cash in accordance with the terms and
conditions of the Back-to-back TRS and the Client TRS which should have taken into account all the economic
returns or economic loss in relation to the Offer Shares. If upon the maturity of the Client TRS, the Huatai
Ultimate Clients intend to extend the investment period, subject to further agreement between Huatai Securities
and the relevant Huatai Ultimate Clients, the term of the Client TRS could be extended by way of a new
issuance or a tenor extension. Accordingly, Huatai Securities will extend the term of the Back-to-back TRS by
way of a new issuance or a tenor extension.
It is proposed that HTCI will hold the legal title and the voting right of the Offer Shares by itself, and pass
through the economic exposure to the Huatai Ultimate Clients, each being an onshore client who places a Client
TRS order with Huatai Securities in connection with the IPO of the Company. HTCI will not exercise the voting
right of the Offer Shares during the tenor of the Back-to-back TRS.
During the life of the Client TRS and Back-to-back TRS, HTCI may continue to hold the Offer Shares in its
custodian account, or to hold some or all of the Offer Shares in a prime brokerage account for stock borrowing
purposes, where HTCI will lend out its holding of underlying Offer Shares in the form of stock borrowing loans
consistent with market practice to lower its finance costs, provided that HTCI has the ability to call back the
Offer Shares on loan at any time in order to satisfy its obligations under the Back-to-back TRS to ensure the
economic interests are ultimately passed to the Huatai Ultimate Clients.


--- page 17 ---
17
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) or any other jurisdiction where such distribution is prohibited by law.
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 or any state securities law of the United
States. 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 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 outside the United States in offshore 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 December 15, 2025 issued by Hanx
Biopharmaceuticals (Wuhan) Co., Ltd. (Ҧ (ဏ )ʮ̡ ) for
detailed information about the Global Offering described below before deciding whether or not
to invest in the Offer Shares.
#  Potential investors of the Offer Shares should note that the 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 and Expenses – 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 Tuesday, December 23, 2025).


--- page 18 ---
18
PUBLIC FLOAT AND FREE FLOAT
Immediately following the completion of the Global Offering, an aggregate of 45,416,890 Shares,
representing approximately 33.3% of the issued share capital of our Company will be counted
towards the public float, which is not less than the prescribed percentage of Shares required to be
held in public hands of 25% under Rule 19A.13A of the Listing Rules.
The Directors confirm that, immediately following the completion of the Global Offering, (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 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.
Based on an Offer Price of HK$32.00 per Offer Share, the Company will satisfy the free float
requirement under Rule 19A.13C(1) of the Listing Rules.
COMMENCEMENT OF DEALINGS
The H Share certificates will only become valid evidence of title at 8:00 a.m. on Tuesday,
December 23, 2025, provided that the Global Offering has become unconditional in all aspects and
the right of termination described in the section “Underwriting {  Underwriting Arrangements and
Expenses { Grounds for termination ” in the Prospectus has not been exercised and has lapsed.
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.
Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. on Tuesday,
December 23, 2025, it is expected that dealings in the H Shares on the Stock Exchange will
commence at 9:00 a.m. on Tuesday, December 23, 2025. The H Shares will be traded in board lots
of 100 H Shares each, and the stock code of the H Shares will be 3378.
By order of the Board
Hanx Biopharmaceuticals (Wuhan) Co., Ltd.
Dr. ZHANG Faming
Chairman and Executive Director
Hong Kong, December 22, 2025
As at the date of this announcement, the Board of Directors of the Company comprises: (i) Dr.
Zhang Faming, Dr. Henry Qixiang Li and Mr. Liu Min as executive Directors; (ii) Dr. Li Jian
and Ms. Xiao Jieyu as non-executive Directors; and (iii) Dr. Bi Honggang, Mr. Chen Qifeng, Mr.
Wong Sai Hung and Dr. Zhang Qiongguang as independent non-executive Directors.
* For identification purpose only
