Luye Pharmaceutical Group Co., Ltd. (the “Company”, together with its subsidiaries, collectively, the “Group”) is committed to the development, production, promotion and sale of innovative drugs in the four largest and rapidly growing treatment fields (i.e. oncology, central nervous system (“central nervous system”), cardiovascular system, and digestion and metabolism) in the People's Republic of China (“China”), the United States of America (“the United States”), Europe and other countries or regions. The Group's product portfolio includes more than 30 products, covering more than 80 countries and regions around the world, including large-scale pharmaceutical markets China, the United States, Europe and Japan, as well as rapidly developing emerging markets. In China, the Group has established a huge national sales and distribution network. For the year ended December 31, 2024 (the “reporting period”), its products were sold to 31 provinces, autonomous regions and municipalities directly under the Central Government. The Group carries out sales, marketing and distribution work through about 1,000 sales and marketing personnel and a network of about 1,730 dealers, which together enabled the Group to sell its products to more than 22,340 hospitals. In the global market, the Group's business covers 80 countries or regions, including the United States, the European Union, Japan, the Association of Southeast Asian Nations, Latin America, the Gulf Cooperation Council region and other emerging countries or regions. The Group also has strong sales partner relationships, with more than 50 partners worldwide. The Group's research and development (“R&D”) activities are comprised of four chemical platforms, namely long-acting and sustained-release technology, liposome and targeted drug delivery, transdermal drug delivery systems, and novel compounds. With four cutting-edge platforms of its subsidiary Shandong Boan Biotechnology Co., Ltd. (“Boan Biology”), the Group has expanded its R&D capabilities to the biological field, namely the whole-human antibody-transgenic mouse and bacteriophage display technology platform, the bispecific T-CellEngager technology platform, the antibody drug conjugation (“ADC”) technology platform, and the cell therapy platform. The Group balances the risk of clinical development by strategically allocating resources for the development of proven compounds and proprietary formulations of new drugs, biosimilars and novel biopharmaceuticals. The Group believes that its R&D capabilities will become the Group's long-term competitiveness and the driving force for future growth and development. As of December 31, 2024, the Group's R&D team comprised 649 employees, including 58 doctorates and 318 master's degrees in medicine, pharmaceuticals and other related fields. On December 31, 2024, the Group obtained a total of 275 patents and 82 patents in the application stage in China, obtained a total of 580 patents overseas, and 124 patents are in the application stage. The Group will continue to invest in products in the four strategic treatment fields of oncology, central nervous system, cardiovascular and metabolism. As of December 31, 2024, the Group has 23 products under development in China at various stages of development. The drugs under development include 12 tumor products, 5 central nervous system products, and 6 other products. Furthermore, the Group has 11 products under development in various stages of development in the US, Europe and Japan.