君圣泰医药-B2025中期报告
中 期 報 告2025 2 4 23 43 45 46 47 49 50 52 64 D 24840 Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 1910011010 15434301-10 83One Bay East21 5025 829 201614 183171712-1716 2511 www.hightidetx.com Conyers Trust Company (Cayman) LimitedP.O. Box 2681Grand Cayman KY1-1111Cayman Islands HTD1801(NME)(CKM)HTD1801AMPKNLRP3AMPKNLRP3HTD1801Lp(a)ApoBALT/ASThs-CRPHTD1801HTD1801 HTD1801AMPKNLRP3(CKM)CKMCKMCKM90%80%5.9CKMCKMHTD1801CKMHTD1801HTD1801CKM 4,580HTD1801HTD1801CKM(T2DM)(MASH)(CKD)(PSC)(SHTG)HTD1801HTD4010HTF1037HTF1057HTD1804HTD1805HTD2802 100+HTD1801 71027 HTD1801 •HTD1801CKMT2DMMASH CKDPSCSHTG •HTD1801•HTD1801T2DMIIIT2DMMASHIIb T2DM •T2DMT2DM2-4T2DM •T2DMIbIIIIIHTD1801HbA1cHTD1801HOMA-IRT2DMIbII IIIMASHT2DMIIaHTD1801 •(ADA)85IIISYMPHONY1HTD1801T2DMSYMPHONY 1IIIHTD1801T2DMHTD180124HbA1c H T D1801H b A1c ( -1.3% )42%HTD1801HbA1c7%HTD1801HbA1c≥8.5%HTD1801HbA1c-1.5%HTD1801HbA1c HTD1801(LDL-C)(non-HDL-C) HTD1801T2DMγ-GGTChs-CRPT2DM •EASLT2DMIIHTD1801T2DM(MASLD) HTD1801T2DMMASLDHTD1801 •JAMANetwork OpenHTD1801T2DMII12HTD1801HTD1801T2DM • •60(EASD)T2DMIIHTD1801T2DMHTD1801EASD T2DMMASHHTD1801HTD1801T2DMMASH HTD1801T2DMMASH •84ADAT2DMIIHTD1801T2DMHbA1c HTD1801HTD1801T2DMMASHT2DM •HTD1801T2DMIII(SYMPHONY1SYMPHONY2) •HTD1801T2DMIII(HARMONY)IIIT2DMHTD180124HbA1c •HTD1801SYMPHONYIIISYMPHONY 1SYMPHONY224 SYMPHONYIII52HARMONY •HTD1801T2DM MASH •MASH •HTD1801MASHT2DMIIaIIaHTD1801IIa •EASLIIaMASHMASHT2DMHTD1801 HTD1801MASHHTD1801MRI-PDFFcT1 •(AASLD)MASHIIaHTD1801AASLD 1(GLP-1RAs)HTD1801MASHT2DMGLP-1RAsHTD1801 HTD1801(GI)HTD1801 •MASHMASHHTD1801 IIa •EASLMASHIIaHTD1801GLP-1RAsHTD1801HTD1801EASL GLP-1RAsHTD1801MASHT2DMGLP-1RAsHTD1801 T2DMMASHHTD1801MASHHTD1801HTD1801MASHT2DM HTD1801HTD1801MASH •MASHIIbIIb CKD •CKD•HTD1801CKDeGFR24T2DMeGFR60 – 89 mL/min/1.73m²HTD1801eGFR•HTD1801HTD1801•HTD1801•HTD1801CKDII •196.5(BMI) •HTD1801HTD1801MASHT2DMIIa3.5kg8kg GLP-1RAsHTD1801GLP-1RAs •(Obesity&Weight Loss Drug DevelopmentSummit)HTD1801 HTD1801HTD1801GLP-1RAsHTD1801 •HTD1801GLP-1RAII PSC •PSCPSCHTD1801 •HTD1801PSCHTD1801PSC •HTD1801PSCIIHTD1801HTD1801HTD1801HTD1801PSCIIIII SHTG •SHTG(TG)SHTG(CVD)omega-3SHTG •SHTGHTD1801MASLDMASH200HTD1801HTD1801SHTG•IHTD1801HTD1801SHTGII HTD4010 •HTD1801AHIBDAHHTD4010AH •HTD4010IAHAHHTD4010Toll4AHEASL(DDW)HTD4010 •EASL(DDW)HTD4010 HTD4010DUR-928HTD4010 HTD4010 HTF1037 •HTF1037GLP-1RAHTF1037NASASTALTROSHTF1037HTF1037 HTF1057 •HTF1057HTF1057HTF1057(BDNF) HTD1804 •HTD1804T2DM •HTD1804HTD1804 HTD1805 •HTD1805HTD1805HTD1801HTD1805 HTD2802 •HTD2802IBDIBDHTD2802 HTD1801HTD1801T2DM(NDA)T2DMHTD1801T2DMMASH CKDPSCSHTG (i)(ii)(iii)(iv)(v) 35.124.610.570.1%19.1 3.02.25.25.73.6 (i)(ii)(iii)(iv) 202.047.3%106.468.922.0 46.153.0%21.6 113.9210.9 506.2236.9269.3310.830.7%215.5 147.380.354.86.16.1 80.356.92.95%3.7% (1)(2) Apollo Multi-Asset Growth FundApolloChaince Capital FundLPChaince12.5Apollo12,375Chaince12,375,000ApolloChaince161.168.96.15.8ApolloChaince11.2ApolloChaince1.0 30.5%13.0% 57 34.982.9 D. C.2.1 C.2.1 194.192.6 2410 2.2156,555,000123.4HTD1801 3880 13.51B(1) 13.2013.2113.22 XV(a)XV78(b)352(c) (1)L(2)514,770,66856,555,000(3)Founder BVI81,000,000(4)25,606,819(5)10,004,9647,457,872 (6)FounderBVIZTGlobal EnergyFounderBVIZT Global Energy(i)(ii)ZTGlobalEnergy6,369,3726,369,3725,6161.24%1.24%0.00% (7)AIH Capital L.P.AIH Capital L.P.80%(i)27,428,154(ii)2,766,000 5,926,5842,741,190 (9)6,032,5682,836,557 (10)1,336,9081,190,832 XVXV78352 XV23336 (1)L(2)514,770,66856,555,000(3)64,289,500HepalinkBiotechnology II LimitedHepalinkBiotechnology II LimitedHepalink Healthcare Partners I L.P.Hepalink Healthcare Partners I L.P.Hepalink HealthcarePartners I L.P.Hepalink Healthcare Partners I L.P.100%62.90%13,515,210Medi ProsperityCapital Inc.Hepalink Healthcare Partners I L.P.Medi Prosperity Capital Inc.Hepalink Healthcare Partners I L.P.(4)The Bryn Mawr Trust Company of DelawareFounder BVI(5)Founder BVIZT Global EnergyFounder BVIZTGlobal Energy(i)(ii)ZT Global Energy6,369,3726,369,3725,6161.24%1.24%0.00%(6)TCT (BVI) LimitedTCT (BVI) LimitedThe Core Trust Company Limited(7)60%40% 336 A. (a) (b) (i)(ii)(iii) (c) (d) 53,095,764 (e) 10 (f) 25% (g) 0.140.47 (h) (10) (1)17.07(1)(c)(v)(2)17.07(1)(d)(3)(4)25%(5)10(6)(7)(i)(ii)(iii) B. (a) (b) (i)(ii)(iii) (c) (d) 9,600,000 (e) 10 (f) 25% (g) 0.33 (h) (i)(ii) (1)17.07(1)(c)(v)(2)17.07(1)(d)(3)25%(4)10(5)(6)(i)(ii)(iii)(7)(8)17.07(1)(c)(iv) C. (a) (b) (a)(b) (c) 36,033,9467.0%1.0%5,147,706 (d) 10 (e) (4)25%1212 (f) (a)(i)(ii)(5) (g) (i)(ii)(iii) (h) (i)(ii)(iii)(iv)(v)(vi)(vii)(viii)(ix)(x)(xi)(xii)(xiii)(xiv)(xv)(xvi) 36,033,94636,033,946 D.17.07(3) 17.07(3) 君聖泰醫藥 君聖泰醫藥4563君聖泰醫藥343434 2410 34 P05419 1. 君聖泰醫藥（「」）Great Mantra Group LimitedCricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands24840 君聖泰醫藥 2. 34 3. 3. 21 (a)2112 4. 5. 6.
