Pharmaron Beijing Co., Ltd — Earnings Release 2025

Jan 13, 2026

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

康兹化成
PHARMARON

Pharmaron Beijing Co., Ltd.
康龍化成(北京)新藥技術股份有限公司
(a joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 3759)

INSIDE INFORMATION ANNOUNCEMENT
REGARDING THE ESTIMATE FOR
ANNUAL RESULTS OF 2025

This announcement is made by Pharmaron Beijing Co., Ltd. (the "Company" and together with its subsidiaries, the "Group") pursuant to Rule 13.09 of The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The following is the estimate of the Company for the annual results of 2025. The financial data contained in this results estimate has not been audited and is, except for non-IFRSs (International Financial Reporting Standards) adjusted net profit attributable to owners of the parent or as otherwise indicated, prepared in accordance with the PRC Accounting Standards for Business Enterprises.

I. ESTIMATE FOR ANNUAL RESULTS OF 2025

1. Period for the results estimate: January 1, 2025 to December 31, 2025
2. Results estimate: Voluntary Announcement of the Estimate for Annual Results

The estimated revenue, net profit attributable to owners of the parent excluding non-recurring gains or losses and non-IFRSs adjusted net profit attributable to owners of the parent increased year-on-year, the estimated net profit attributable to owners of the parent decreased year-on-year.

Item	Current reporting period	Same period last year
Revenue	Revenue: 13,871.6256 million – 14,239.8989 million	Revenue: 12,275.7749 million
	Growth compared with the same period of last year: 13% – 16%

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Item	Current reporting period	Same period last year
Net profit attributable to owners of the parent	Profit: 1,614.0157 million – 1,685.7498 million
Decrease compared with the same period of last year: 6% – 10%	Profit: 1,793.3508 million
Net profit attributable to owners of the parent excluding non-recurring gains or losses (Note 2)	Profit: 1,506.7629 million – 1,562.1586 million
Growth compared with the same period of last year: 36% – 41%	Profit: 1,107.9139 million
Basic earnings per share	0.9160/share –0.9567/share	Profit: 1.0133/share
Non-IFRSs adjusted net profit attributable to owners of the parent (Note 3)	Profit: 1,767.5373 million – 1,847.8799 million
Growth compared with the same period of last year: 10% – 15%	Profit: 1,606.8521 million

Note 1:

The "million" in this results estimate is in RMB million, unless otherwise defined.

Note 2:

According to the preliminary estimate by the Company, the non-recurring gains or losses attributable to owners of the parent for the annual period of 2025 would be in the range of approximately RMB110 million and RMB130 million, which mainly include government subsidies recognized in the current year profit and loss, gains on changes in fair value of other non-current financial assets, and gains or losses related to investments in medium-risk and low-risk wealth management products, etc.

Note 3:

To supplement the financial statements prepared by us, we use non-IFRSs adjusted net profit attributable to owners of the parent as an additional financial measure. We define non-IFRSs adjusted net profit attributable to owners of the parent as net profit before certain expenses/(gains): 1) share-based compensation expenses; 2) foreign exchange gains and losses and the income statement impact of the gains or losses of the corresponding foreign exchange hedging instruments; 3) realized and unrealized related gains or losses from equity investments; 4) Convertible Bonds related gains or losses; 5) Other incidental, non-cash or non-operating items.

The Company believes that the consideration of the non-IFRSs adjusted net profit attributable to owners of the parent by eliminating the impact of certain incidental, non-cash or non-operating items is useful for better understanding and assessing underlying business performance and operating trends for the Company's management, shareholders and potential investors.

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The non-IFRSs adjusted net profit attributable to owners of the parent is not an alternative to: (i) profit before tax or net profit (as determined in accordance with IFRSs) as a measure of our operating performance, (ii) cash flows from operating, investing and financing activities as a measure of our ability to satisfy our cash needs, or (iii) any other measures of performance or liquidity. In addition, the presentation of the non-IFRSs adjusted net profit attributable to owners of the parent is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with the IFRSs. Shareholders and potential investors should not view the non-IFRSs adjusted net profit attributable to owners of the parent on a stand-alone basis or as a substitute for results under the IFRSs, or as being comparable to results reported or forecasted by other companies.

II. COMMUNICATION STATUS WITH THE ACCOUNTING FIRM

The Company has communicated in advance with the auditors on matters related to the results estimate, and there is no major disagreement between the Company and the auditors on the financial data related to the results estimate.

The results estimate has not been audited or pre-audited by the certified public accountants.

III. REASONS FOR CHANGES IN RESULTS

1. Impact of principal business

The Company remained steadfast in implementing its core strategy of developing an end-to-end, fully integrated and multiple modalities capable services platform with global footprints to further support its customers in improving the efficiency and flexibility of their pharmaceutical R&D and manufacturing needs. In full year 2025, the Company's revenue is estimated to increase by 13% to 16% year-on-year, the net profit attributable to owners of the parent excluding non-recurring gains or losses increased by 36% – 41% year-on-year, and the non-IFRSs adjusted net profit attributable to owners of the parent increased by 10% – 15% year-on-year.

At the midpoint of the estimated annual results, the Company's revenue in the fourth quarter of 2025 increased by 14.79% year-on-year, the net profit attributable to owners of the parent excluding non-recurring gains or losses increased by 54.09% year-on-year, and the non-IFRSs adjusted net profit attributable to owners of the parent increased by 16.36% year-on-year.

2. Impact of non-recurring gains or losses

As mentioned above, the non-recurring gains or losses attributable to owners of the parent during the reporting period amounted to approximately RMB110 million to RMB130 million. In the same period of last year, the non-recurring gains or losses attributable to owners of the parent were RMB685.4370 million, mainly due to the disposal of equity in PROTEOLOGIX, INC. The non-recurring gains or losses decreased by approximately RMB555.4370 million to RMB575.4370 million.

Under the continuous improvement of the principal business and mainly due to the decrease of the non-recurring gains or losses, the net profit attributable to owners of the parent decreased by 6% to 10% year-on-year.

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IV. ADDITIONAL INFORMATION

1. The estimated data of the results disclosed in this announcement is only a preliminary estimate made by the finance department of the Company and has not been audited or pre-audited by the certified public accountants.

2. Details of the Company’s annual results of 2025 prepared under the PRC Accounting Standards for Business Enterprises or IFRSs will be disclosed in the annual reports 2025 to be published by the Company on the Shenzhen Stock Exchange or The Stock Exchange of Hong Kong Limited, respectively. Investors are advised to exercise caution and pay attention to investment risks involved.

By order of the Board
Pharmaron Beijing Co., Ltd.
Dr. Lou Boliang
Chairman

Beijing, the PRC
January 13, 2026

As at the date of this announcement, the Board of Directors comprises Dr. Lou Boliang, Mr. Lou Xiaoqiang and Ms. Zheng Bei as executive Directors; Mr. Li Shing Chung Gilbert as employee representative Director; Mr. Li Jiaqing and Ms. Wan Xuan as non-executive Directors; Ms. Li Lihua, Mr. Yu Jian and Prof. Tsang King Fung as independent non-executive Directors.

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