▋ Performance pre-increase situation

According to the preliminary calculation by the company's financial department, it is estimated that the annual operating revenue for 2025 will be approximately RMB 446 million to RMB 493 million, representing a year-on-year increase of approximately 71.8% to 89.9%.

▋ The performance continues to be delivered as expected, with revenue achieving rapid growth

The company adheres to a differentiation strategy, continuously invests in research and development expenses, and deeply cultivates the subunit influenza vaccine market. Both the trivalent and quadrivalent influenza virus subunit vaccines have gradually become the first and only full dose subunit influenza vaccines for the entire population in China. At the same time, the company continuously strengthens its quality management system governance capabilities, empowers intelligent manufacturing and intelligent supervision through information systems and means, ensures stable product production quality, maintains a 100% pass rate for batch issuance, and continuously improves operational efficiency, becoming an important cornerstone for the company's rapid revenue growth.
Thanks to the company's precise marketing strategy, a "digital+academic" dual wheel driven marketing model has been established. Utilizing big data models to achieve real-time visualization analysis of sales data, accurately dividing target blocks, conducting sand table deduction and strategy correction, and formulating precise and agile differentiated policies. Compared to 2024, product shipments in 2025 will further increase coverage to 232 disease control centers and 2563 vaccination clinics, providing consumers with a wider range of regional choices; At the same time, the company continues to conduct large-scale post listing evaluations and conducts in-depth academic research on special populations such as pregnant women and patients with nephrotic syndrome. From provincial and urban areas to end markets, academic promotion services have achieved comprehensive coverage, truly reaching end consumers. In addition, relevant departments such as the government continue to carry out popular science education on influenza vaccines, and residents' awareness of influenza vaccination has significantly increased. Driven by multiple favorable factors, the company's operating revenue has achieved rapid growth, its commercial operation capability and comprehensive industrial layout have continued to improve, and industrialization development has steadily advanced.
In addition, based on continuous investment in research and development, the company has achieved initial results in cost reduction and efficiency improvement. Despite a significant increase in expenses related to the initial public offering, the company's net loss has further narrowed compared to the same period last year.

Explanation:
The above information is only a preliminary assessment made by the management of our company based on the unaudited comprehensive management accounts of our group as of 2025. The above information has not been audited or reviewed by our company's auditors and may be subject to adjustments and changes. The financial performance and performance details of our group as of the fiscal year 2025 will be disclosed in our annual performance announcement, which is expected to be published by the end of March 2026.