--- 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.
Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those
defined in the prospectus dated August 7, 2025 (the “Prospectus ”) issued by Guangzhou Innogen Pharmaceutical
Group Co., Ltd. (ʮ̡ ) (the “Company ”).
This announcement is for information purposes only and does not constitute an offer or an invitation to induce an
offer by any person to acquire, purchase or subscribe for any securities of the Company. This announcement is not a
prospectus. Potential investors should read the Prospectus for detailed information about the Company and 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 provided in the Prospectus.
This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States
(including its territories and possessions, any state of the United States and the District of Columbia). This
announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for any securities
in the United States or in any other jurisdictions. The Offer Shares have not been, and will not be, registered under the
United States Securities Act of 1933, as amended (the “U.S. Securities Act ”) or securities law of any state or other
jurisdiction of the United States. The Offer Shares may not be offered, sold, pledged or otherwise transferred within
the United States, except pursuant to an available exemption from, or in a transaction not subject to, the registration
requirements of the U.S. Securities Act. There will be no public offer of the Offer Shares in the United States.
The Offer Shares are being offered and sold solely outside the United States in offshore transactions in reliance on
Regulation S under the U.S. Securities Act.
In connection with the Global Offering, CITIC Securities (Hong Kong) Limited and China International Capital
Corporation Hong Kong Securities Limited (in no particular order) act as the Joint Sponsors; CLSA Limited and
China International Capital Corporation Hong Kong Securities Limited (in no particular order) act as the Sponsor-
Overall Coordinators and CLSA Limited, China International Capital Corporation Hong Kong Securities Limited
(in no particular order), Deutsche Bank AG, Hong Kong Branch and Macquarie Capital Limited act as the Overall
Coordinators.
Potential investors of the Offer Shares should note that the Joint Sponsors and 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 – Hong Kong Underwriting
Agreement – 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 Friday, August 15, 2025).


--- page 2 ---
2
Guangzhou Innogen Pharmaceutical Group Co., Ltd.
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
: 36,556,400 H Shares
Number of Hong Kong Offer Shares : 3,655,800 H Shares
Number of International Offer Shares : 32,900,600 H Shares
Offer Price : HK$18.68 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% (payable in full on
application in Hong Kong dollars and
subject to refund)
Nominal value : RMB1.00 per H Share
Stock code : 2591
Joint Sponsors, Overall Coordinators, Sponsor-Overall Coordinators, Joint Global
Coordinators, Joint Bookrunners and Joint Lead Managers
(in no particular order)
Overall Coordinators, Joint Global Coordinators,
Joint Bookrunners and Joint Lead Managers
Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager
Joint Bookrunners and Joint Lead Managers


--- page 3 ---
3
Guangzhou Innogen Pharmaceutical Group Co., Ltd. /
ʮ̡
ANNOUNCEMENT OF ALLOTMENT RESULTS
Unless otherwise defined herein, capitalised terms used in this announcement shall have the same
meanings as those defined in the prospectus dated August 7, 2025 (the “Prospectus ”) issued by
Guangzhou Innogen Pharmaceutical Group Co., Ltd. (ʮ̡ ) (the
“Company ”).
Warning: In view of high concentration of shareholding in a small number of Shareholders,
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 2591
Stock short name INNOGEN-B
Dealings commencement date August 15, 2025*
* see note at the end of the announcement
Price Information
Offer Price HK$18.68
Offer Shares and Share Capital
Number of Offer Shares 36,556,400 H Shares
Number of Offer Shares in Hong Kong Public Offering 3,655,800 H Shares
Number of Offer Shares in International Offering 32,900,600 H Shares
Number of issued Shares upon Listing 456,819,349 Shares
Note: The Offer Size Adjustment Option is not exercised.
Over-allocation
No. of Offer Shares over-allocated 0
Note: There has been no over-allocation of Offer Shares in the Global Offering. Therefore, the Over-allotment
Option will not be exercised and will lapse upon Listing.
Proceeds
Gross proceeds (Note) HK$682.9 million
 Less: Estimated listing expenses payable based on
  Offer Price
HK$(48.2) million
Net proceeds HK$634.7 million
Note: Gross proceeds refer to the amount to which the issuer 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. During the Track
Record Period, the listing expenses of RMB22.4 million have been charged to the consolidated statements of profit
or loss and other comprehensive income of the Company.


--- page 4 ---
4
ALLOTMENT RESULTS DETAILS
HONG KONG PUBLIC OFFERING
No. of valid applications 256,072
No. of successful applications 18,279
Subscription level 5,341.66 times
Claw-back triggered N/A
No. of Offer Shares initially available under the Hong Kong
Public Offering
3,655,800 H Shares
No. of Offer Shares reallocated from the International Offer
(claw-back)
N/A
Final no. of Offer Shares under the Hong Kong Public
Offering
3,655,800 H Shares
Approximate % of Offer Shares under the Hong Kong
Public Offering to the Global Offering
10%
Note: For details of the final allocation of shares to the Public Offer, investors can refer to www.hkeipo.hk/IPOResult
to perform a search by name or identification number or www.hkeipo.hk/IPOResult  for the full list of allottees.
INTERNATIONAL OFFERING
No. of placees 143
Subscription Level 10.67 times
No. of Offer Shares initially available under the International
Offer
32,900,600 H Shares
Final no. of Offer Shares under the International Offer 32,900,600 H Shares
Approximate % of Offer Shares under the International Offer
to the Global Offering
90%
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, the 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, the 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.
The placees in the International Offering included the following:


--- page 5 ---
5
Cornerstone Investors
Investor Note
No. of Offer
Shares
allocated
% of the
Offer Shares
% of total
issued H
Shares after
the Global
Offering
% of total
issued share
capital after
the Global
Offering
Existing
shareholders
or their close
associates
June Star Global Limited
(ʮ̡ )
2,100,800 5.75% 0.50% 0.46% No
Ginkgo Capital Global Fund
SPC-XtalPi AI Fund SP
840,200 2.30% 0.20% 0.18% No
Marketingforce Management Ltd
(ʮ̡ )
420,000 1.15% 0.10% 0.09% No
DENG Haifeng (ࢤ420,000 1.15% 0.10% 0.09% No
LI Huifeng ( ኇᅆჾ) 420,000 1.15% 0.10% 0.09% No
Total 4,201,000 11.49% 1.00% 0.92%
Note: For further details of the Cornerstone Investors, please refer to the section headed “Cornerstone Investors ” in
the Prospectus.
Allotees with Consents Obtained
Investor
No. of Offer
Shares allocated
% of the
Offer Shares
% of total
issued share
capital after
the Global
Offering Relationship
Allotees with consent under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the Guide for New
Listing Applicants in relation to allocations to a connected client Note
Guotai Junan Investments (Hong
Kong) Limited ( “GTJAI ”)
2,460,000 6.73% 0.54% Connected client
Note: For details of the consent under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the Guide for New Listing Applicants in
relation to allocations to a connected client, please refer to the section headed “Others/Additional Information ” in this announcement.


--- page 6 ---
6
LOCK-UP UNDERTAKINGS
Controlling Shareholders
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
% of
shareholding
in the
Company
subject to
lock-up
undertakings
upon Listing
Last day subject
to the lock-up
undertakings Note 1
Dr. WANG
QINGHUANote 2
46,219,556 36,975,645 8.80% 10.12% August 14, 2026
Guangzhou Nuosu
Enterprise Management
Partnership (Limited
Partnership) ( ᄿψፕᘽ
Άุ၍ଣΥྫΆุ (ࠢ
Υྫ)) Note 2
28,960,102 23,168,082 5.51% 6.34% August 14, 2026
Guangzhou Nuopa
Enterprise Management
Partnership (Limited
Partnership) (֮
Άุ၍ଣΥྫΆุ (ࠢ
Υྫ)) Note 2
32,774,646 26,219,717 6.24% 7.17% August 14, 2026
Guangzhou Nuotai
Enterprise Management
Partnership (Limited
Partnership) ( ᄿψፕ㹻
Άุ၍ଣΥྫΆุ (ࠢ
Υྫ)) Note 2
3,640,000 2,912,000 0.69% 0.80% August 14, 2026


--- page 7 ---
7
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
% of
shareholding
in the
Company
subject to
lock-up
undertakings
upon Listing
Last day subject
to the lock-up
undertakings Note 1
Hong Kong Invengen
Pharmaceutical
Technology Co., Limited
(ࠢ
ʮ̡) Note 2
27,253,600 21,802,880 5.19% 5.97% August 14, 2026
Hong Kong Innogen
Pharmaceutical
Technology Co., Limited
(ࠢ
ʮ̡) Note 2
12,750,222 10,200,178 2.43% 2.79% August 14, 2026
Total 151,598,126 121,278,502 28.86% 33.19%
Notes:
1. The expiry date of the lock-up period shown in the table above is pursuant to the PRC Company Laws. In accordance with the
relevant Listing Rules/guidance materials, the required lock-up for existing Shareholders ends on August 14, 2026, being 12
months following the Listing Date.
2. Immediately before completion of the Global Offering, Dr. Wang, founder of the Group, chairman of the Board, general manager
of the Company and executive Director, was entitled to exercise approximately 36.07% of the voting rights in the Company
through: (i) 46,219,556 Shares (representing approximately 11.00% of the voting rights in the Company) directly held by him;
(ii) 65,374,748 Shares (representing approximately 15.56% of the voting rights in the Company) held by the Employee Incentive
Platforms (i.e. Guangzhou Nuosu, Guangzhou Nuopa and Guangzhou Nuotai), whose general partner was Shanghai Nuotang
(an entity wholly-owned by Dr. Wang); (iii) 27,253,600 Shares (representing approximately 6.48% of the voting rights in the
Company) held by Hong Kong Invengen, which entered into the Concert Party Agreement with Dr. Wang; and (iv) 12,750,222
Shares (representing approximately 3.03% of the voting rights in the Company) held by Hong Kong Innogen (an entity wholly-
owned by Dr. Wang). Immediately upon completion of the Global Offering, Dr. Wang (through his controlled entities and
arrangements under the Concert Party Agreement as forementioned) will be entitled to exercise approximately 33.19% of the
voting rights in the Company. Therefore, Dr. Wang, Guangzhou Nuosu, Guangzhou Nuopa, Guangzhou Nuotai, Shanghai
Nuotang, Hong Kong Invengen and Hong Kong Innogen constitute a group of Controlling Shareholders of the Company and
each of them is subject to the lock-up undertakings pursuant to Rule 10.07 of the Listing Rules.


--- page 8 ---
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
% of
shareholding
in the
Company
subject to
lock-up
undertakings
upon Listing
Last day subject
to the lock-up
undertakings Note 1
June Star Global Limited 2,100,800 2,100,800 0.50% 0.46% May 14, 2026
Ginkgo Capital Global Fund
SPC-XtalPi AI Fund SP 840,200 840,200 0.20% 0.18% May 14, 2026
Marketingforce
Management Ltd 420,000 420,000 0.10% 0.09% May 14, 2026
DENG Haifeng 420,000 420,000 0.10% 0.09% May 14, 2026
LI Huifeng 420,000 420,000 0.10% 0.09% May 14, 2026
Total 4,201,000 4,201,000 1.00% 0.92%
Note:
1. In accordance with the relevant cornerstone investment agreements, the required lock-up ends on May 14, 2026. 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.


--- page 9 ---
9
Pre-IPO Investors (as defined in the “History, Development 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
% of
shareholding
in the
Company
subject to
lock-up
undertakings
upon Listing
Last day subject
to the lock-up
undertakings Note 1
JINGDE (GUANGZHOU)
EQUITY INVESTMENT
PARTNERSHIP (LP) ( ౻੻
(ᄿψ)ᛆҳ༟ΥྫΆุ
(Υྫ )) Note 2
26,556,444 26,556,444 6.32% 5.81% August 14, 2026
KIP BRIGHT II
(CHENGDU) EQUITY
INVESTMENT
PARTNERSHIP (LP) Note 2
(౻༐ɚಂ (ϓே)ᛆҳ༟
ΥྫΆุ (Υྫ ))
7,587,556 7,587,556 1.81% 1.66% August 14, 2026
KIP (ZHANGJIAGANG)
VENTURE CAPITAL
LLP Note 2  ( ᒵҳ(ಥ)
ᛆҳ༟ΥྫΆุ
(Υྫ ))
7,587,556 7,587,556 1.81% 1.66% August 14, 2026
Hefei Cowin Chengtai
Equity Investment
Partnership (Limited
Partnership) Note 3  (Ν௴
ᛆҳ༟ΥྫΆุ (Ϟ
Υྫ))
11,381,333 11,381,333 2.71% 2.49% August 14, 2026
Hefei Cowin SME
Development Fund
Partnership (Limited
Partnership) Note 3  (Ν௴
ΥྫΆ
ุ(Υྫ ))
6,033,354 6,033,354 1.44% 1.32% August 14, 2026


--- page 10 ---
10
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
% of
shareholding
in the
Company
subject to
lock-up
undertakings
upon Listing
Last day subject
to the lock-up
undertakings Note 1
Cowin China Growth Fund
II, L.P. Note 4  (“Cowin China
Fund II ”)
26,556,444 26,556,444 6.32% 5.81% August 14, 2026
Ganzhou Gongchuang
Enterprise Management
Center (Limited
Partnership) ( ᜯψ΍௴Άุ
၍ଣʕː (Υྫ ))
362,001 362,001 0.09% 0.08% August 14, 2026
Palace Investments Pte. Ltd. 25,344,931 25,344,931 6.03% 5.55% August 14, 2026
BioTrack AA Limited Note 5 3,171,598 3,171,598 0.75% 0.69% August 14, 2026
BioTrack BZ Limited Note 5 3,041,537 3,041,537 0.72% 0.67% August 14, 2026
BioTrack Capital Fund I,
LP Note 5
9,055,556 9,055,556 2.15% 1.98% August 14, 2026
Jiangyin Guotiao Hongtai
Private Equity Investment
Partnership (Limited
Partnership) (इ
ᛆҳ༟ΥྫΆุ (Ϟ
Υྫ))
1,312,566 1,312,566 0.31% 0.29% August 14, 2026
Shanghai Nuolin
Pharmaceutical Partnership
Enterprise (Limited
Partnership) ( ɪऎፕᑗᔼᖹ
ΥྫΆุ (Υྫ ))
7,008,703 7,008,703 1.67% 1.53% August 14, 2026
Shenzhen Zhongshen
Xinchuang Equity
Investment Partnership
Enterprise (Limited
Partnership) ( ଉέʕଉอ௴
ᛆҳ༟ΥྫΆุ (Υ
ྫ))
12,066,709 12,066,709 2.87% 2.64% August 14, 2026


--- page 11 ---
11
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
% of
shareholding
in the
Company
subject to
lock-up
undertakings
upon Listing
Last day subject
to the lock-up
undertakings Note 1
Ningbo Meishan Bonded
Port Area Huixin
Investment Management
Partnership (Limited
Partnership) (೼
ಥਜි୸ҳ༟၍ଣΥྫΆ
ุ(Υྫ )) Note 6
8,446,696 8,446,696 2.01% 1.85% August 14, 2026
Gongqingcheng Shangpeng
Investment Management
Partnership (Limited
Partnership) Note 6  (֠۬ڡ
ᘄҳ༟၍ଣΥྫΆุ (ࠢ
Υྫ))
2,172,008 2,172,008 0.52% 0.48% August 14, 2026
Beijing Yuanhui Ruize
Entrepreneurship
Investment Center (Limited
Partnership) Note 7  ( ̏ԯ๕ᅆ
ြዣ௴ุҳ༟ʕː (Υ
ྫ))
965,337 – – 0.21% August 14, 2026
Beijing Yuanhui Ruize Zero
Phase Equity Investment
Fund Center (Limited
Partnership) Note 7  ( ̏ԯ๕ᅆ
ʕ
ː(Υྫ ))
482,668 – – 0.11% August 14, 2026
CICC Biomedical Fund L.P.
(઼ᅃ (ژ)ي
ᔼᖹ௴ุҳ༟ΥྫΆุ (Ϟ
Υྫ))
7,843,361 5,490,353 1.31% 1.72% August 14, 2026


--- page 12 ---
12
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
% of
shareholding
in the
Company
subject to
lock-up
undertakings
upon Listing
Last day subject
to the lock-up
undertakings Note 1
Ningbo Vstar Xinyuan
Private Equity Investment
Fund Partnership Enterprise
(Limited Partnership) (ت
Υ
ྫΆุ(Υྫ ))
6,033,354 6,033,354 1.44% 1.32% August 14, 2026
Jiangsu Taizhou Light
Control Industry Investment
Partnership Enterprise
(Limited Partnership) ( Ϫᘽ
इψΈછପุҳ༟ΥྫΆ
ุ(Υྫ ))
4,826,684 2,413,342 0.57% 1.06% August 14, 2026
Jiaxing Juesheng No.
1 Equity Investment
Partnership Enterprise
(Limited Partnership) ( ྗጳ
ᛆҳ༟ΥྫΆ
ุ(Υྫ ))
4,826,684 4,826,684 1.15% 1.06% August 14, 2026
Langma No. 44 (Shenzhen)
Entrepreneurship
Investment Center (Limited
Partnership) Note 8  (ီ̬ɤ
̬໮(ଉέ)௴ุҳ༟ʕː
(Υྫ ))
2,896,010 2,896,010 0.69% 0.63% August 14, 2026
Langma No. 45 (Shenzhen)
Entrepreneurship
Investment Center (Limited
Partnership) Note 8  (ီ̬ɤ
ʞ໮(ଉέ)௴ุҳ༟ʕː
(Υྫ ))
3,137,344 3,137,344 0.75% 0.69% August 14, 2026


--- page 13 ---
13
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
% of
shareholding
in the
Company
subject to
lock-up
undertakings
upon Listing
Last day subject
to the lock-up
undertakings Note 1
Xiamen Deyi Changqing
Venture Capital Partnership
Enterprise (Limited
Partnership) (ڡڗ
௴ุҳ༟ΥྫΆุ (Υ
ྫ))
5,430,019 5,430,019 1.29% 1.19% August 14, 2026
Suzhou Guofeng Dingjia
Venture Capital Partnership
Enterprise (Limited
Partnership) ( ᘽψ਷ᔮཻྗ
௴ุҳ༟ΥྫΆุ (Υ
ྫ))
4,223,348 4,223,348 1.00% 0.92% August 14, 2026
Shanghai Pudong
Science and Technology
Innovation Investment
Fund Partnership Enterprise
(Limited Partnership) ( ɪऎ
Υ
ྫΆุ(Υྫ ))
3,620,013 3,620,013 0.86% 0.79% August 14, 2026
Yunnan Jichan Phase II
Equity Investment Fund
Partnership (Limited
Partnership) (ਿପ൩ಂ
ΥྫΆุ (Ϟ
Υྫ))
3,700,198 3,700,198 0.88% 0.81% August 14, 2026
Tianjin Biyoulin
Technology Co., Ltd. (ݵ
ʮ̡ )
3,641,465 3,641,465 0.87% 0.80% August 14, 2026


--- page 14 ---
14
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
% of
shareholding
in the
Company
subject to
lock-up
undertakings
upon Listing
Last day subject
to the lock-up
undertakings Note 1
Mingzhe Fengtai (Zibo)
Equity Investment
Partnership (Limited
Partnership) (ᔮइ (଍
௹)ᛆҳ༟ΥྫΆุ (ࠢ
Υྫ))
1,011,518 1,011,518 0.24% 0.22% August 14, 2026
Sanya Qidi Xuri
Investment Center (Limited
Partnership) Note 9  (ࠔ
ϛ˚ҳ༟ʕː (Υྫ ))
1,981,766 1,981,766 0.47% 0.43% August 14, 2026
Sanya Qidi Baili
Investment Center (Limited
Partnership) Note 9  (ࠔ
ϵлҳ༟ʕː (Υྫ ))
1,153,940 1,153,940 0.27% 0.25% August 14, 2026
Sanya Siqi Zhiqing
Investment Center (Limited
Partnership) Note 9  (Չ
౽Ꮧҳ༟ʕː (Υྫ ))
505,759 505,759 0.12% 0.11% August 14, 2026
Sanya Zhixin Yuanda
Investment Center (Limited
Partnership) Note 9  (ڦ
Ⴣɽҳ༟ʕː (Υྫ ))
255,914 255,914 0.06% 0.06% August 14, 2026
Sanya Zhiyuan Zhicheng
Investment Center (Limited
Partnership) Note 9  (Ⴣ
༐ҳ༟ʕː (Υྫ ))
249,845 249,845 0.06% 0.05% August 14, 2026


--- page 15 ---
15
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
% of
shareholding
in the
Company
subject to
lock-up
undertakings
upon Listing
Last day subject
to the lock-up
undertakings Note 1
Chongqing Shengyunhe
Technology Partnership
(Limited Partnership) (ᅅ
ҦΥྫΆุ (ࠢ
Υྫ))
950,827 950,827 0.23% 0.21% August 14, 2026
Xiamen Zhengxuan
Enterprise Management
Partnership (Limited
Partnership) (◕䉤Άุ
၍ଣΥྫΆุ (Υྫ ))
20,230,359 20,230,359 4.81% 4.43% August 14, 2026
Huajin Dadao Investment
Co., Ltd. Note 10  (ɽ༸
ʮ̡ ) (“Huajin
Dadao”)
3,034,554 3,034,554 0.72% 0.66% August 14, 2026
Beijing Future Extreme
Technology Development
Center (Limited
Partnership) (ࠢ
ʕː (Υྫ ))
303,455 303,455 0.07% 0.07% August 14, 2026
Guangzhou Industrial
Investment Biomedical
and Health Special
Master Fund Partnership
Enterprise (Limited
Partnership) Note 10  ( ᄿψପ
ᔼᖹၾ਄ੰਖ਼ධ͎
ΥྫΆุ (Υྫ ))
(“Guangzhou Industrial
Investment ”)
22,594,783 22,594,783 5.38% 4.95% August 14, 2026


--- page 16 ---
16
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
% of
shareholding
in the
Company
subject to
lock-up
undertakings
upon Listing
Last day subject
to the lock-up
undertakings Note 1
Suzhou Long ’ao Pan
Artificial Intelligence High-
tech Investment Center
(Limited Partnership) ( ᘽψ
Ҧҳ
༟ʕː(Υྫ ))
7,080,626 7,080,626 1.68% 1.55% August 14, 2026
Total 268,664,823 262,450,468 62.45% 58.81%
Notes:
1. The expiry date of the lock-up period shown in the table above is pursuant to the PRC Company Law.
2. Each an investment arm of KOREA INVESTMENT PARTNERS Co., Ltd. ( “KIP”).
3. Each an investment arm of Shenzhen Cowin Asset Management Co., Ltd. (ʮ̡ ) (“Shenzhen Cowin ”).
4. Cowin China Fund II was managed by its general partner Cowin Capital Investment II, which was in turn owned as to 70.00% by Cowin
Capital Investment. Cowin Capital Investment was wholly-owned by Cowin Capital Investment III, which was owned as to 50.00% and
50.00% by Zheng Weihe ( ቍਃᚲ) and Huang Li ( රট) (the spouse of Zheng Weihe), respectively.
5. BioTrack AA Limited and BioTrack BZ Limited are both wholly-owned by BioTrack Capital Fund I, LP.
6. Each controlled by Tibet Dazi Zhiyuan Huicai Investment Management Co., Ltd. (ʮ̡ ).
7. Each controlled by Beijing Yuanhui Venture Capital Management Co., Ltd. (ʮ̡ ).
8. Each is a limited partnership established in the PRC with Everest Venture Capital Investment Co., Ltd. (ʮ̡ )
being their respective general partner.
9. Each managed by their respective general partner, Beijing Hanfu Asset Management Co., Ltd. (ʮ̡ ).
10. Huajin Dadao is ultimately controlled by Zhuhai Municipal State-owned Assets Supervision and Administration Commission ( मऎ̹
ึ ). Guangzhou Industrial Investment is ultimately controlled by State-owned Assets Supervision and
Administration Commission of Guangzhou Municipal People ’s Government.


--- page 17 ---
17
PLACEE CONCENTRATION ANALYSIS
Placees*
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 share
capital upon
Listing
Top 1 3,017,400 9.17% 8.25% 3,017,400 0.66%
Top 5 12,016,400 36.52% 32.87% 12,016,400 2.63%
Top 10 20,960,400 63.71% 57.34% 20,960,400 4.59%
Top 25 32,428,600 98.57% 88.71% 32,428,600 7.10%
Notes
* 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 share
capital upon
Listing
Top 1 – – – 121,278,502 28.86%
Top 5 – – – 257,955,457 61.38%
Top 10 – – – 323,220,546 76.91%
Top 25 7,977,200 24.25% 21.82% 387,765,803 92.26%
Notes
* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.


--- page 18 ---
18
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 – – – 121,278,502 151,598,126 33.19%
Top 5 – – – 257,955,457 288,275,081 63.10%
Top 10 – – – 321,630,273 354,302,905 77.56%
Top 25 7,977,200 24.25% 21.82% 387,765,803 422,851,777 92.56%
Notes
* 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:
Number of
H Shares
applied for
Number
of valid
applications Basis of allocation/ballot
Approximate
percentage
allotted of the
total number
of H Shares
applied for
Pool A
200 52,066 261 out of 52,066 applicants to receive 200 H Shares 0.50%
400 23,660 173 out of 23,660 applicants to receive 200 H Shares 0.37%
600 10,879 100 out of 10,879 applicants to receive 200 H Shares 0.31%
800 5,944 64 out of 5,944 applicants to receive 200 H Shares 0.27%
1,000 11,577 140 out of 11,577 applicants to receive 200 H Shares 0.24%
1,200 4,802 64 out of 4,802 applicants to receive 200 H Shares 0.22%
1,400 2,997 44 out of 2,997 applicants to receive 200 H Shares 0.21%
1,600 3,065 48 out of 3,065 applicants to receive 200 H Shares 0.20%
1,800 2,092 35 out of 2,092 applicants to receive 200 H Shares 0.19%
2,000 17,326 304 out of 17,326 applicants to receive 200 H Shares 0.18%
3,000 5,970 131 out of 5,970 applicants to receive 200 H Shares 0.15%
4,000 5,261 135 out of 5,261 applicants to receive 200 H Shares 0.13%
5,000 7,580 220 out of 7,580 applicants to receive 200 H Shares 0.12%


--- page 19 ---
19
Number of
H Shares
applied for
Number
of valid
applications Basis of allocation/ballot
Approximate
percentage
allotted of the
total number
of H Shares
applied for
Pool A
6,000 4,023 129 out of 4,023 applicants to receive 200 H Shares 0.11%
7,000 2,518 88 out of 2,518 applicants to receive 200 H Shares 0.10%
8,000 2,521 95 out of 2,521 applicants to receive 200 H Shares 0.09%
9,000 1,982 79 out of 1,982 applicants to receive 200 H Shares 0.09%
10,000 15,265 645 out of 15,265 applicants to receive 200 H Shares 0.08%
20,000 10,495 647 out of 10,495 applicants to receive 200 H Shares 0.06%
30,000 6,579 506 out of 6,579 applicants to receive 200 H Shares 0.05%
40,000 5,398 485 out of 5,398 applicants to receive 200 H Shares 0.04%
50,000 4,169 424 out of 4,169 applicants to receive 200 H Shares 0.04%
60,000 3,349 376 out of 3,349 applicants to receive 200 H Shares 0.04%
70,000 2,139 261 out of 2,139 applicants to receive 200 H Shares 0.03%
80,000 2,198 289 out of 2,198 applicants to receive 200 H Shares 0.03%
90,000 1,594 223 out of 1,594 applicants to receive 200 H Shares 0.03%
100,000 10,413 1,542 out of 10,413 applicants to receive 200 H Shares 0.03%
200,000 7,550 1,632 out of 7,550 applicants to receive 200 H Shares 0.02%
Total 233,412 Total number of Pool A successful applicants: 9,140
Pool B
Number of
H Shares
applied for
Number
of valid
applications Basis of allocation/ballot
Approximate
percentage
allotted of the
total number
of H Shares
applied for
300,000 7,447 2,235 out of 7,447 applicants to receive 200 H Shares 0.02%
400,000 3,755 1,278 out of 3,755 applicants to receive 200 H Shares 0.02%
500,000 2,419 907 out of 2,419 applicants to receive 200 H Shares 0.01%
600,000 1,770 719 out of 1,770 applicants to receive 200 H Shares 0.01%
700,000 1,010 439 out of 1,010 applicants to receive 200 H Shares 0.01%
800,000 900 415 out of 900 applicants to receive 200 H Shares 0.01%
900,000 563 273 out of 563 applicants to receive 200 H Shares 0.01%
1,000,000 1,116 566 out of 1,116 applicants to receive 200 H Shares 0.01%
1,200,000 687 378 out of 687 applicants to receive 200 H Shares 0.01%
1,400,000 443 261 out of 443 applicants to receive 200 H Shares 0.01%
1,600,000 408 254 out of 408 applicants to receive 200 H Shares 0.01%
1,827,800 2,142 1,414 out of 2,142 applicants to receive 200 H Shares 0.01%
Total 22,660 Total number of Pool B successful applicants: 9,139


--- page 20 ---
20
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 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 trading fee payable.
OTHERS/ADDITIONAL INFORMATION
Allocation of Offer Shares to a connected client with prior consent under paragraph 1C(1) of
the Placing Guidelines
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 certain Offer Shares to be
placed to a connected client of its connected distributor under the International Offering pursuant
to the Placing Guidelines. Details of the placement to a connected client are set out below:
No. Connected distributor Connected client Relationship
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
subscribed by
the connected
client
Approximate
% of Offer
Shares
allocated to
the connected
client
Approximate
percentage
of total
issued share
capital after
the Global
Offering
1. Guotai Junan Securities
(Hong Kong) Limited
(“GTJASHK ”)
GTJAI Note 1 GTJAI is a
member of the
same group of
GTJASHK.
non-discretionary
basis
2,460,000 6.73% 0.54%


--- page 21 ---
21
Note:
1. GTJAI shall hold the Offer Shares for hedging purpose as the single underlying asset of a back-to-back total
return swap transaction (the “GTJA Back-to-back TRS ”) to be entered into between GTJAI and Guotai Junan
Securities Co., Ltd. (the “GTJA Onshore Parent ”) in connection with a total return swap order (the “GTJA
Client TRS ”) to be entered into by GTJA Onshore Parent and its ultimate client (the “GTJA Onshore Ultimate
Client ”). Such GTJA Client TRS is to be fully funded by the GTJA Onshore Ultimate Client. GTJAI will hold
the H Shares on a non-discretionary basis for the purpose of hedging the economic exposure under the GTJA
Back-to-back TRS and GTJA Client TRS only, and the economic exposure of the underlying Offer Shares will
be passed to the GTJA Onshore Ultimate Client, subject to the terms and conditions of the GTJA Back-to-back
TRS and GTJA Client TRS documents. During the tenor of the GTJA Client TRS, all economic returns of the
H Shares will be passed to the GTJA Onshore Ultimate Client and all economic losses shall be borne by the
GTJA Onshore Ultimate Client, in accordance with the terms and conditions of the GTJA Back-to-back TRS
and GTJA Client TRS documents, and GTJAI will not take part in any economic return or bear any economic
loss in relation to the price of the Offer Shares. The GTJA Onshore Ultimate Client may request to redeem the
H Shares at their own discretion, upon which GTJAI shall dispose of the H Shares and settle the GTJA Back-
to-back TRS and GTJA Client TRS in cash in accordance with the terms and conditions of the GTJA Back-to-
back TRS and GTJA Client TRS documents. Due to its internal policy, GTJAI will not exercise the voting right
attaching to the H Shares during the tenor of the GTJA Back-to-back TRS and GTJA Client TRS documents.
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 and
Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this
announcement, make no representation as to its accuracy or completeness and expressly disclaim
any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or
any part of the contents of this announcement.
This announcement is not for release, publication, distribution, directly or indirectly, in or into
the United States (including its territories and possessions, any state of the United States and
the District of Columbia). This announcement does not constitute or form a part of any offer or
solicitation to purchase or subscribe for securities in the United States. The securities mentioned
herein have not been, and will not be, registered under the United States Securities Act of 1933,
as amended (the “U.S. Securities Act ”). The securities may not be offered or sold in the United
States except pursuant to an exemption from the registration requirements of the U.S. Securities
Act and in compliance with any applicable state securities laws, or outside the United States
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 solely 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 August 7, 2025 issued by Guangzhou
Innogen Pharmaceutical Group Co., Ltd. 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 Joint Sponsors and 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 – Hong Kong
Underwriting Agreement – 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 August 15,
2025).


--- page 23 ---
23
PUBLIC FLOAT AND FREE FLOAT
Immediately upon the completion of the Global Offering, an aggregate of 299,066,868 H Shares,
representing approximately 65.45% of the total issued share capital of the Company will be held in
public hands. Therefore, the number of H shares held in public hands is higher than the prescribed
percentage of H Shares required to be held in public hands of 17.58% under Rule 19A.13A(1) of
the Listing Rules. Based on an Offer Price of HK$18.68 per H Share, the Company satisfies the
free float requirement under Rule 19A.13C(1)(b) 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 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 Friday, August
15, 2025 (Hong Kong time), provided that the Global Offering has become unconditional and the
right of termination described in the section headed “Underwriting – Underwriting Arrangements
and Expenses – 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.
Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. on Friday, August
15, 2025 (Hong Kong time), it is expected that dealings in the H Shares on the Stock Exchange
will commence at 9:00 a.m. on Friday, August 15, 2025 (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 2591.
By order of the Board
Guangzhou Innogen Pharmaceutical Group Co., Ltd.
Dr. WANG QINGHUA
Chairman of the Board, Executive Director and General Manager
Hong Kong, August 14, 2025
As at the date of this announcement, the Board comprises: (i) Dr. WANG QINGHUA (Chairman
of the Board), Ms. Jiang Fan, Ms. Xu Wenjie and Mr. Huang Bing as executive Directors; (ii) Mr.
HO KYUNG SHIK and Mr. Heng Lei as non-executive Directors; and (iii) Mr. Tao Wuping, Dr.
Song Ruilin and Mr. Chan Heung Wing Anthony as independent non-executive Directors.