思路迪医药股份二零二五年年报

2025ANNUAL REPORT年度報告 Contents 2Definitions8Corporate Information11Chairman’s Statement14Financial Summary15Management Discussion and Analysis50Biographies of Directors and Senior Management62Corporate Governance Report83Report of Directors116Environmental, Social and Governance Report211Independent Auditor’s Report219Consolidated Statements of Profit or Loss andOther Comprehensive Income220Consolidated Statement of Financial Position222Consolidated Statement of Changes in Equity223Consolidated Statement of Cash Flows226Notes to Financial Statements Corporate Information BOARD OF DIRECTORS Executive DirectorDr. Gong Zhaolong(Chairman of the Board) Non-executive Directors 20256 302025630 Mr. Zhu Pai(retired on June 30, 2025)Mr. Zhu Jinqiao(was appointed on June 30, 2025)Mr. Zhou FengMs. Chen Yawen Independent Non-executive Directors Dr. Li JinDr. Lin Tat PangMr. Liu Xinguang REMUNERATION COMMITTEE Mr. Liu Xinguang(Chairman)Dr. Gong ZhaolongDr. Li Jin NOMINATION COMMITTEE 20253312025331 Dr. Gong Zhaolong(Chairman)Dr. Li JinMr. Liu XinguangMs. Chen Yawen(was appointed on March 31, 2025)Dr. Lin Tat Pang(was appointed on March 31, 2025) AUDIT COMMITTEE Dr. Lin Tat Pang(Chairman)Mr. Zhou FengDr. Li Jin JOINT COMPANY SECRETARIES Ms. Xia FangMs. Li Ching Yi AUTHORISED REPRESENTATIVES Dr. Gong ZhaolongMs. Li Ching Yi LEGAL ADVISERS 1511 As to Hong Kong law: HASTINGS & CO.11th Floor, Gloucester Tower,The Landmark, 15 Queen’s Road Central,Hong Kong As to Cayman Islands laws: 829 Conyers Dill & Pearman29th FloorOne Exchange Square8 Connaught PlaceCentralHong Kong AUDITOR AND REPORTING ACCOUNTANT 28814B Modern Assure CPA LimitedCertified Public AccountantsRegistered Public Interest Entity AuditorsUnit B, 14/F, Eton Building288 Des Voeux Road CentralSheung WanHong Kong STOCK CODE PRINCIPAL BANK 158322F Bank of CommunicationsShanghai Minhang Sub-branch22F, Block 3, Jiefang TowerNo. 158 Zhucheng RoadMinhang District, Shanghai PRC www.3d-medicines.com COMPANY WEBSITE www.3d-medicines.com Corporate Information REGISTERED OFFICE Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands CORPORATE HEADQUARTERS 35 No. 3 and No. 5, Laiyang RoadQingdao, Shandong, PRC PRINCIPAL PLACE OF BUSINESS IN HONG KONG 18819 19/F, Golden Centre188 Des Voeux Road CentralHong Kong PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands HONG KONG BRANCH SHARE REGISTRAR 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong To all Shareholders, 2025 2025 was a pivotal year for 3D Medicines Inc. (the “Company”, andtogetherwith its subsidiaries,the“Group”)as we advanced ourstrategicupgrade and global expansion Amid the recovery of theHongKong capital market,and guided by unmet clinical needs,theGroup focused on core innovation R&D and commercializationinoncology,and made steady progress in technological platformbreakthroughs, in-depth product commercialization and internationalcooperation. Despite short-term operational challenges, we improvedoperationalquality through efficient adjustments and laid a solidfoundation for long-term development. Chairman’s Statement Incommercialization,®,the core product and the onlycommercialisedsubcutaneous PD-L1 inhibitor in China,achievedannualsales revenue of RMB356.1 million,which was affected byabank account freeze related to the Qingdao litigation.Followingtheunfreezing of the account and recovery of the supply chain,operationalperformance has gradually improved.Its clinical valuehas been continuously recognised by authorities: 11 research resultswere presented at the ASCO Annual Meeting, it was included in 20domestic clinical guidelines and consensus recommendations, and theindication for gastric cancer and gastroesophageal junction cancerreceived the Group’s third orphan drug designation. Cumulative salesin China have exceeded RMB2 billion, providing stable support for theGroup’s operations. ®PD-L1356.11 1A S C O2020 RDC177LuPSMAIITAILNP-mRNAPCTin vivo CAR-T/NK InR&D and innovation,milestone breakthroughs have beenachievedon multiple core technology platforms:the RDC platformhasestablished a fully closed-loop R&D system,with the first177Lu-labelledPSMA-targeted therapeutic drug entering theinvestigator-initiated trial (IIT) stage; the AI-driven LNP-mRNA platformhascompleted a localised full-chain layout,with core componentsfiled for PCT patent applications, and the R&D layout of a number ofcancer vaccines and in vivo CAR-T/NK drug candidates is proceedingin an orderly manner; four product candidates with global indepen