New Year Address 2026 by Mr. Fu Wei, Honorary Chairman of Everest Medicines and Chief Executive Officer of CBC Group

Dear colleagues and friends who have supported Everest Medicines, Happy New Year!

The 21st century has already passed its first quarter, and the era of biopharmaceutical development reached a pivotal juncture in 2025. Over the past eight years since its founding until 2025, Everest Medicines has had the privilege of fully experiencing the evolution of China’s biopharmaceutical industry. More importantly, we have been honored to stand alongside all of you in this industry with unprecedented prospects. Looking ahead to 2026 and the next quarter of this century, the global biopharmaceutical sector will undoubtedly witness 'China's moment'! The role that Everest Medicines will play during this 'China's moment' is precisely our most significant achievement and discovery of 2025.

The year 2025 marks a turning point because China’s biopharmaceutical innovation capabilities, efficiency, and underlying industrial momentum have reached a watershed moment. In less than a decade, we have propelled China’s biopharmaceutical industry from generic drugs into an era of absolute innovation. The industry's 'internal competition' has, in the short term, brought about intense competition across all fronts; however, in the long run, it has elevated our entire industry to new levels of capability and efficiency. Biopharmaceutical companies that can survive and sustain growth in China must possess world-class efficiency, execution, and innovation!

The year 2025 was also a turning point for Everest Medicines. Our greatest achievement lies in discovering the direction and key to long-term sustainable development, which is to become a platform enterprise and integrator for the commercialization of innovative drugs in China and an accelerator for Chinese innovative drugs going global. Becoming the integration platform for commercializing innovative drugs in China, achieving revenue of tens of billions within the medium term, will form the foundation for our path toward a market value of hundreds of billions. Achieving global innovation and international expansion will be our strategic focus. We must seize both opportunities and drive progress through dual engines.

Our confidence in becoming a leading commercial platform for innovative drugs in China stems from the commercial team and infrastructure we have built over the past three years. The addition of Chairman Wu Yifang in 2025 has further strengthened our belief. In the future, the leading enterprises in China's innovative drug market will undoubtedly be local Chinese companies with a global vision and international perspective. Small and medium-sized single-product enterprises will inevitably be integrated. Amid the trend and goal of achieving tens of billions or even hundreds of billions in revenue for domestic innovative drug platform companies, Everest Medicines is poised to lead the way!

Nefuka® is our first 'ticket.' In 2025, we have already demonstrated our capabilities through Nefuka®: achieving sales revenue exceeding RMB 1 billion in its first complete commercial year, setting a historical record for non-oncology products and becoming the best-selling chronic disease drug included in the medical insurance system in the past decade. Although Nefuka® will face new challenges in 2026, the challenges themselves are not daunting. We are fully prepared for the 'battle' and must meet our targets, as this is another 'touchstone' on our path forward. In China, there is no permanent moat; the only constant is facing competition and winning it!

In 2025, the regulatory review of our key product in the IBD field, Etromod, for its New Drug Application (NDA) in China is proceeding smoothly, with approval expected in the first half of 2026. This will create a 'dual blockbuster' synergy with Nefuka®. Additionally, over the past few months, the company has introduced two highly innovative and significant products: VIS101, targeting VEGF/ANG-2 for ocular fundus diseases, and Leribop®, a third-generation PCSK9 lipid-lowering drug (Laida Xibeipu), aimed at cardiovascular diseases, both with potential revenues in the billions. Nefuka® is just the beginning and serves as our first benchmark. We must succeed with it while steadfastly establishing more benchmarks. Around our star therapeutic areas, we will continuously screen and strategically position the next generation of synergistic products. At a pace of introducing three to four products per year, we will refine our commercialization capabilities, learn through repetition, and improve with every practice. When we reach the RMB 10 billion scale in commercialization, we will enter a new phase with core competitiveness, which is at most three years away. With clear direction, well-defined challenges to address, and specific capabilities to build, this represents the greatest certainty in our development.

Global innovation in R&D is our key focus. The company’s self-developed mRNA in vivo CAR-T platform, tumor vaccine platform, and the promising renal pipeline candidate, the BTK inhibitor EVER001, have all made encouraging progress in clinical studies, further validating their potential and value. Although last year's business development (BD) goals were not met, as data continues to accumulate and time progresses, our chances of securing high-quality deals will only increase significantly. 2026 will undoubtedly be a crucial year of harvest for us in the R&D field!

The commercial platform and global innovation in research and development are the established long-term directions for Everest Medicines. Our foundational strategies provide certainty, while our strategic initiatives offer broader possibilities. Reflecting on the eight years Everest Medicines has journeyed, we have established leadership among 'license-in' model companies in terms of capability, systems, and resilience. We successfully navigated through cycles, endured the coldest three-year trough in the biopharmaceutical industry, accumulated strength, and identified clearer directions. Therefore, standing at the starting point of 2026, we feel more composed. Challenges will ultimately be mere interludes; encountering problems and solving them, continuously building strength and refining capabilities, and steadily progressing toward our goals remain our main theme. We look forward to 2026!

Finally, I would like to express my heartfelt gratitude to every colleague who has walked alongside us or once joined us. Everest Medicines will surely make every individual who has contributed to the company's development proud.

Wishing you and your family good health, smooth careers, and happiness in the New Year!