1. During the Period, the Group delivered solid financial results, with revenue achieved an increase of 13.4% year-on-year (“YoY”) and net profit reaching a record HK$76.0 million, up 12.7% YoY, while EPS increased from HK$0.62 cents in the first half of 2023 to HK$1.27 cents in the first half of 2025, representing a three-year CAGR of 43.1%. The growth this year was driven by the Group’s omnichannel strategy and increasing demand for Bogutai®, along with in the Group’s existing marketed drugs. Meanwhile, the Group strengthened its financial position, with improvements across all key liquidity ratios and overall financial resilience.

2. Since its official launch in March 2024, Bogutai® has steadily built market recognition and sustained growth momentum. Bogutai® has achieved solid progress in clinical uptake and patient enrollment, with over 8,000 new patients and 6,000 returning patients, and establishing a broad and in-depth market network across first- to fourth-tier markets. During the Period, revenue of Bogutai® increased substantially from approximately HK$18.8 million to approximately HK$65.6 million, representing a significant increase of 248.9%.

3. In May 2025, the Group’s second ophthalmology product, 金因康® (Diquafosol Sodium Eye Drops), received marketing approval from the China National Medical Products Administration (“NMPA”), marking a significant milestone in expanding the Group’s ophthalmic portfolio.

4. In July 2025, the marketing application of Isavuconazonium sulfoate capsules was officially accepted by the NMPA, marking a significant milestone for the Group in the field of antifungal treatment. Isavuconazonium sulfoate capsules is expected to be approved for launch in the second half of 2026.

5. In June 2025, the Group officially launched the high-end series GeneQueens™ of 肌顏態® and the medical device brand 金因敷®, marking a key milestone in its strategic expansion into the integrated "Drug, Medical Device, and Aesthetics" field.

6. During the Period, the Group is refocusing its R&D strategy on regenerative medicine. In particular, the Group is in discussions with leading regenerative medicine research institutions in China to establish industry–academic partnerships in this field, aiming to co-develop innovative therapies leveraging growth factors and regenerative medicine technologies, combining complementary strengths to accelerate research and further strengthen the Group’s leadership in biopharmaceutical innovation.

For the Period, the Group recorded revenue of approximately HK$310.2 million, representing an increase of 13.4% YoY. Revenue of Bogutai® increased substantially from approximately HK$18.8 million to approximately HK$65.6 million, representing a significant increase of 248.9%. Revenue generated from GeneTime® was approximately HK$107.8 million, representing an increase of 18.1% YoY. GeneSoft® recorded a mild decrease in revenue to approximately HK$18.5 million, representing a decrease of 2.1% YoY. Currently, the Group is preparing for GeneSoft® entry into medical insurance coverage, aiming for inclusion by the end of 2025, and providing a strong catalyst for future growth. Pinup® recorded a decrease of 22.7% in revenue to approximately HK$108.9 million for the Period. The Group was re-selected for the centralized procurement in 2024, with a validity period of two years. However, in response to certain local policy changes, the Group adopted a more selective approach to hospital supply. Hospitals in many provinces began procuring Boshutai® in 2025. Revenue from Boshutai® was approximately HK$6.1 million, representing a significant increase of 84.8%.

Gross profit was approximately HK$254.1 million, representing an increase of 10.2% YoY, whereas gross profit margin was 81.9% (first half of 2024:84.3%). The decrease in gross profit margin was primarily due to the recent addition of Bogutai®, which is still in the early stages of commercialization and had a relatively low output volume, resulting in higher product costs. Profit for the Period surged from approximately HK$67.4...