• Baidu's fully driverless Apollo Go vehicles are now available to riders on the Uber platform in Dubai, the first market where this partnership comes to reality.
• Riders may be matched with an Apollo Go vehicle when booking Uber Comfort or UberX, or by selecting the "Autonomous" option in the Uber app.
• Dubai marks the first city where Apollo Go has established a dual model, offering both self-operated and partner-based autonomous ride-hailing services internationally.

DUBAI, UAE, Aug. 20, 2026 /PRNewswire/ -- Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888) today announced that Apollo Go's autonomous vehicles are officially available to riders on the Uber Technologies, Inc. (NYSE: UBER) platform in Dubai, with New Horizon Luxury Transport serving as the fleet operator. Starting today, riders in Dubai can hail a fully driverless Apollo Go vehicle directly through the Uber app. The launch marks the first deployment built on the multi-year strategic partnership between the two parties to bring thousands of Apollo Go autonomous vehicles to the Uber platform across global markets.

At initial launch in Dubai, the fully autonomous service will be available in select locations in Umm Suqeim and Jumeirah, with plans to expand the operating territory in the future. For trips within the service area, riders will have the opportunity to be matched with a fully driverless Apollo Go vehicle when booking an Uber Comfort or UberX, or by selecting the "Autonomous" option in the Uber app.

"This launch marks a meaningful milestone in our partnership with Uber, with Dubai serving as the launchpad as the partnership grows its footprint," said Nan Yang, Vice President of Baidu and General Manager of Overseas Business Unit, Intelligent Driving Group. "Dubai is also the first city where we've successfully established a dual model, offering both self-operated and partner-based autonomous ride-hailing services internationally. With this launch, we are excited to offer another way for riders in Dubai to enjoy the benefits of autonomous mobility."

"Bringing our partnership with Baidu to life is a major step forward as we expand autonomous mobility globally," said Sarfraz Maredia, Global Head of Autonomous at Uber. "Launching in Dubai marks the first time our multi-partner vision comes to life on public roads, demonstrating how combining advanced autonomous technology with our global marketplace can accelerate an electric, shared, and autonomous future."

Dubai is Apollo Go's first market to operate through both self-operated app and third-party platform partnership. In March 2026, Apollo Go began offering commercial fully driverless rides through its own app, marking its first international app deployment. That launch built on Apollo Go's receipt of Dubai's first-ever driverless testing permit for fully autonomous vehicles without a safety driver in January 2026. Riders can now access Apollo Go's fully driverless service through either the Apollo Go app or the Uber app.

First announced in July 2025, the partnership combines Uber's extensive network with Apollo Go's autonomous driving technology stack, and aims to bring thousands of Apollo Go autonomous vehicles onto the Uber platform across multiple global markets, with the goal of increasing the supply of affordable and reliable ridesharing options.

Apollo Go brings deep experience in large-scale, real-world deployment and continues to rapidly expand its global footprint. To date, Apollo Go has spanned 28 cities globally, and its fleets have accumulated over 350 million autonomous kilometers, including over 240 million fully driverless autonomous kilometers, with an outstanding safety record. As of the end of June, its fully driverless vehicles recorded an average of approximately one airbag deployment every 14.4 million kilometers.

About Baidu

Founded in 2000, Baidu's mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong internet foundation, trading on the NASDAQ under "BIDU" and HKEX under "9888." One Baidu ADS represents eight Class A ordinary shares.

About Uber

Uber's mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 79 billion trips later, we're building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.

Media Contacts

Baidu
[email protected]

Uber
[email protected]

Volcengine announced that Tesla, Inc. (TSLA.US) has tapped into the Doubao large model. The vehicle system is equipped with the Doubao real-time conversational model and an end-to-end voice interaction architecture, making the in-car system no longer a walkie-talkie style "Q&A" tool, but a more natural, continuous and proactive interface.
~

AASTOCKS Financial News
Website: www.aastocks.com

SHANGHAI, Aug. 20, 2026 /PRNewswire/ -- On August 17, Shanghai Electric Company (SEHK: 02727, SSE: 601727) partnered with Shanghai International Port Group and CMA CGM Group to conduct a biomethanol bunkering operation with a total volume of 8,000 metric tons, the largest single biomethanol bunkering operation on record. The bunkering ceremony at Shanghai Yangshan Port was titled "Green Fueled Globe, Lead the Future".

The principal biomethanol supplier for this operation was Shanghai Electric's Taonan green methanol project. This operation not only marks a significant breakthrough in supply volume but also indicates that the Taonan project is fulfilling stable production and large-scale deliveries.

Behind this success lies a fully connected interprovincial green fuel supply chain that serves as the core support. At the Shanghai International Shipping Green Fuel Sustainable‑Development Conference held on June 30 this year, Shanghai, Jilin and Liaoning officially launched the joint‑built green‑fuel transportation corridor. It establishes the north‑to‑south methanol shipment route: production at the Taonan project in Jilin, transit and storage at Dalian Port and final bunkering at Shanghai Port.

As the core production capacity base of the transportation corridor, Shanghai Electric's Taonan green methanol project draws on Jilin's abundant local wind and solar resources as well as biomass feedstock. Deploying independently‑developed full‑set process systems and core equipment, the facility is the world's first large‑scale plant manufacturing biomethanol by combining green electricity and biomass. It meets the ship‑bunkering requirements of Shanghai's International Shipping Center and provides crucial support for the development of the three major green‑fuel centers for international shipping.

Shanghai Electric will continue to focus on the complete industrial chain covering the production, storage, transportation and application of diversified green fuels. The company will intensify research into pivotal core‑technologies and continuously upgrade its integrated green fuel solution chain. Driving industrial advancement through technology‑driven innovation, Shanghai Electric cooperates with partners to accelerate construction on the integrated green-hydrogen-coupled-biomass gasification Green-Methanol and Sustainable Aviation Fuel (SAF) project (Taonan Phase-II). The company will steadily improve its large‑scale green‑fuel supply capacity for the aviation and maritime sectors. Shanghai Electric shall further devote itself to fulfilling China's national dual‑carbon goals and galvanizing the worldwide shift to low‑carbon clean energy.

Rising memory chip prices are casting varying impacts on India's smartphone market. As costs soar, Chinese brands are finding it difficult to maintain low-price strategies, while mid- to high-end brands such as Samsung and Apple (AAPL.US) are benefiting from consumers shifting toward higher-priced smartphones and improved financing plans that enhance affordability, experts told CNBC.

Experts said the era of smartphones priced below USD150 is nearing an end. After existing inventories are depleted, new models with similar features will need to be priced significantly higher to reflect rising memory costs.

Neil Shah, Co-founder of Counterpoint Research, said prices of new Chinese smartphones in India may rise from below USD150 previously to between USD200 and USD250, while prices in the sub-USD150 category have already lifted by as much as 40%.

IDC reported last week that smartphone shipments in India dropped to 64.2 million units in 1H26, with the entry-level segment posting a plunge. Sales volume dropped 7.9% YoY, but sales value added 3.6% YoY as the average selling price rose 14.4% YoY to a record USD315.

IDC said Chinese smartphone brands are finding it difficult to persuade "price-sensitive consumers" to purchase devices at higher prices, leading to notable sales declines. During the same period, the iPhone 17 became the top-shipping smartphone model for two consecutive quarters.

As of the June quarter, Vivo's shipments sank 13.9% YoY, Oppo lost 8.5%, XIAOMI-W (01810.HK) declined 10%, and Realme fell 14.2%, IDC data showed. OnePlus, which focuses on the premium market, recorded the smallest downfall at 2.5% YoY.

Shah said when memory chip prices began rising last year, many Chinese smartphone brands shifted to using chips from UNISOC and CXMT (688825.SH) to temporarily maintain market share, but the arrangement is difficult to sustain.

He noted that CXMT has recently raised funds to expand production capacity to serve China's AI and data center markets, with resources shifting toward high-end products.
~

AASTOCKS Financial News
Website: www.aastocks.com

• 2026年上半年總收入同比增長29%，達到人民幣3.02億元，這主要得益於產品銷售收入增加
• 任命Faical Miyara博士為首席業務拓展官、Jim Ziegler為首席商務運營官，高管團隊進一步壯大
• 九項註冊III期臨床研究正在全球範圍內進行，其中四項已獲美國FDA和歐洲EMA許可
• 中文（普通話）投資者網絡直播會議將於北京時間2026年8月20日上午9:00/美國東部時間2026年8月19日晚上21:00舉行；英文投資者網絡直播會議將於美國東部時間2026年8月20日上午8:00/北京時間晚上20:00舉行

中國蘇州2026年8月20日 /美通社/ -- 致力於在腫瘤等領域開發創新藥物的領先的生物醫藥企業——亞盛醫藥（納斯達克代碼：AAPG；香港聯交所代碼：6855）（以下簡稱「亞盛醫藥」、「本公司」、「我們」或「我們的」）今日公佈了截至2026年6月30日止六個月的未經審計財務業績，並介紹了臨床開發和商業化方面的重要進展。 

亞盛醫藥董事長、CEO楊大俊博士表示：「2026年上半年，在全球創新戰略引領下，公司商業化與全球臨床開發均取得突破性進展，全球化進程加速。

隨著耐立克^®與利生妥^®兩大商業化產品的雙引擎驅動，公司自我造血能力持續加強；在今年的ASCO、EHA年會上，多項管線產品積極數據披露；全球多個註冊 III 期臨床快速推進，進一步驗證公司產品的長期潛力；同期公司完成港股摘 B，國際化團隊與海外商業化佈局全面提速。秉持「解決中國乃至全球患者尚未滿足的臨床需求」這一長期願景，我們期待推進更多創新產品更快地惠及全球患者。」

已上市產品和研發管線的主要進展

耐立克^®（通用名：奧雷巴替尼，研發代號：HQP1351）：中國首個獲批的第三代BCR-ABL抑制劑，已在中國獲批治療任何TKI耐藥、並伴有T315I突變的慢性髓細胞白血病（CML）慢性期（-CP）和加速期（-AP）的成年患者；以及治療對一代和二代TKI耐藥和/或不耐受的CML-CP成年患者。

商業化進展

• 截至2026年6月30日，耐立克^®在全國的准入醫院和DTP藥房共達到879家，較截至2025年6月30日的782家增長12%。期間准入醫院數量由295家增至394家，同比增長34%。

臨床進展

• 公司正持續為POLARIS-1研究招募患者。POLARIS-1為一項獲美國FDA和歐洲EMA許可的、評估耐立克^®聯合化療對比研究者選擇的TKI聯合化療治療新診斷費城染色體陽性（Ph+）急性淋巴細胞白血病（ALL）患者的全球註冊III期臨床研究。
  
  
• 公司正持續為POLARIS-2研究招募患者。POLARIS-2為一項獲美國FDA和歐洲EMA許可的、評估耐立克^®用於治療伴有或不伴有T315I突變的經治CML-CP成年患者的全球註冊III期臨床研究。
  
  
• 公司正持續為POLARIS-3研究招募患者。POLARIS-3為一項評估耐立克^®用於治療既往系統性治療失敗的琥珀酸脫氫酶（SDH）缺陷型胃腸間質瘤（GIST）患者的全球註冊III期臨床研究。
  
  
• 公司正持續在早期臨床試驗中評估耐立克^®聯合Bcl-2抑制劑利生妥^®的療效。

預期進展

• 持續推進POLARIS-1、POLARIS-2和POLARIS-3研究的患者入組工作。

利生妥^®（通用名：利沙托克拉，研發代號：APG-2575）：新型口服Bcl-2選擇性抑制劑，通過選擇性抑制Bcl-2蛋白，恢復癌細胞的正常凋亡過程，從而達到治療腫瘤的目的。該品種在多種血液腫瘤和實體瘤治療領域具備廣闊的單藥和聯合治療潛力。

商業化進展

• 截至2026年6月30日，利生妥^®在全國的准入醫院和DTP藥房共達到415家，其中准入醫院60家。

臨床進展

• 公司正持續為GLORA-4研究招募患者。GLORA-4為一項獲美國FDA和歐洲EMA許可的、評估利生妥^®聯合阿扎胞甘（AZA）治療新診斷中高危骨髓增生異常綜合征（MDS）患者的全球註冊III期臨床研究。
  
  
• 公司正持續為GLORA-3研究招募患者。GLORA-3為一項評估利生妥^®聯合阿扎胞甘（AZA）治療新診斷老年或不耐受化療的急性髓系白血病（AML）患者的全球註冊III期臨床研究。
  
  
• 公司正持續為GLORA-2研究招募患者。GLORA-2為一項評估利生妥^®聯合BTK抑制劑阿可替尼對比免疫化療治療初治CLL/SLL患者的註冊III期臨床研究，旨在探索該固定療程聯合方案作為一線治療的潛力。
  
  
• 公司正持續為GLORA研究招募患者。GLORA為一項獲美國FDA和歐洲EMA許可的、評估利生妥^®聯合BTK抑制劑治療BTK抑制劑經治效果欠佳的CLL/SLL患者的全球註冊III期臨床研究。
  
  
• 公司正在美國持續推進利生妥^®聯合其他療法治療多發性骨髓瘤（MM）患者的Ib/II期臨床研究的患者入組。
  
  
• 公司正在中國持續推進利生妥^®單藥或聯合其他療法治療AML/MDS患者（包括對維奈克拉耐藥的患者）的Ib/II期臨床研究的患者入組。
  
  
• 公司正在美國持續推進利生妥^®聯合其他療法治療AML/MDS患者的Ib/II期臨床研究的患者入組。

預期進展

• 計劃啟動臨床研究，以驗證利生妥^®在克服維奈克拉耐藥方面的潛力。
  
  
• 持續推進GLORA、GLORA-2、GLORA-3和GLORA-4研究的患者入組工作。
  
  
• 計劃於2026年積極推動將利生妥^®納入中國國家醫保藥品目錄（NRDL）。

APG-3288：亞盛醫藥基於其具有自主知識產權的蛋白靶向降解嵌合體（PROTAC）技術平台研發的首個新型高效和高選擇性BTK降解劑。

臨床進展

• 於2026年1月獲得美國食品藥品監督管理局（FDA）的臨床試驗申請（IND）許可，並於2026年2月獲得中國國家藥品監督管理局藥品審評中心（CDE）的IND許可。
  
  
• 持續推進一項全球I期臨床研究，旨在評估APG-3288在復發/難治性B細胞惡性腫瘤患者（包括美國和中國患者）中的藥代動力學特徵、安全性、耐受性及療效。

其他業務進展

• 任命Faical Miyara博士為首席業務拓展官、Jim Ziegler為首席商務運營官
  
  
• 香港聯交所股票代碼移除"B"標記

2026年上半年未經審計的財務業績

截至2026年6月30日止六個月，公司總收入為人民幣3.02億元，而截至2025年6月30日止六個月的收入為2.34億元，增長了人民幣0.69億元，增幅為29.3%。收入的增長主要歸因於產品銷售額的增加，該項銷售額從截至2025年6月30日止六個月的人民幣2.13億元增至2026年上半年人民幣2.82億元，增長了人民幣0.69億元，增幅為32.6%。

截至2026年6月30日止六個月，公司的銷售及分銷開支為人民幣 2.26億元，而截至2025年6月30日止六個月則為人民幣1.38億元，增長人民幣0.89億元，增幅達64.3%。該增長主要歸因於利生妥^®的銷售與分銷費用增加。

截至2026年6月30日止六個月，公司研發開支為人民幣6.97億元，而截至2025年6月30日止六個月則為人民幣5.29億元，增長人民幣1.69億元，增幅為32.0%。該增長主要歸因於與本公司正在進行的全球臨床試驗相關的內部研發費用增加。

截至2026年6月30日止六個月，公司行政開支為人民幣1.19億元，而截至2025年6月30日止六個月則為人民幣1.00億元，增長人民幣0.19億元，增幅為19.3%。該增長主要歸因於股權激勵和限制性股份單位（RSU）開支的增加。

截至2026年6月30日止六個月，公司錄得其他開支人民幣0.69億元，而截至2025年6月30日止六個月則為人民幣0.40億元，增長人民幣0.29億元，增幅為71.9%。該增長主要歸因於匯兌損失和捐贈支出的增加。

截至2026年6月30日止六個月，公司虧損人民幣8.17億元，而截至2025年6月30日止六個月則虧損人民幣5.91億元。截至2026年6月30日止六個月，普通股股東應占每股虧損為人民幣1.73元，而截至2025年6月30日止六個月，每股虧損為人民幣2.19元。

截至2026年6月30日，現金及銀行存款餘額為人民幣18.96億元，而截至2025年12月31日為人民幣24.70億，減少了人民幣5.75億元，降幅為23.3%。該減少主要是由於全球臨床進展的加速，導致研發費用大幅增加。

投資者電話會議和網絡直播

亞盛醫藥將召開投資者網絡直播會議，討論2026年上半年未經審計的中期業績。

中文（普通話）投資者電話會議和網絡直播將於北京時間2026年8月20日上午9:00/美國東部時間2026年8月19日晚上21:00舉行。如需參加中文投資者活動或電話會議，請提前在[此處]註冊。

英文投資者電話會議和網絡直播將於美國東部時間2026年8月20日上午8:00/北京時間晚上20:00舉行。如需參加英文網絡直播，請提前在[此處]註冊。亞盛醫藥網站的公司活動頁面也將提供英文電話會議和演示的網絡重播。

貨幣匯率信息

除非另有說明，截至2026年6月30日、2025年6月30日止六個月及截至2025年12月31日的人民幣對美元的換算，分別按照2026年6月30日、2025年6月30日及2025年12月31日紐約聯邦儲備銀行核證的紐約市中午買入匯率進行，即1美元兌換6.7851元人民幣、1美元兌換7.1636元人民幣及1美元兌換6.9931元人民幣。亞盛醫藥並未作出任何陳述，表示本新聞稿中提及的人民幣或美元金額無論如何都能夠或本可以按任何特定匯率兌換成美元或人民幣（視情況而定）。

關於亞盛醫藥

亞盛醫藥（納斯達克代碼：AAPG；香港聯交所代碼：6855）是一家綜合性的全球生物醫藥企業，致力於研發、生產和商業化創新藥，以解決腫瘤領域全球患者尚未滿足的臨床需求。公司已建立豐富的創新藥產品管線，包括抑制Bcl-2和MDM2-p53 等細胞凋亡通路關鍵蛋白的抑制劑、新一代針對癌症治療中出現的激酶突變體的抑制劑以及蛋白降解劑。

公司核心品種耐立克^®是中國首個獲批上市的第三代BCR-ABL抑制劑，已獲批用於治療伴有T315I突變的慢性髓細胞白血病慢性期（CML-CP）和加速期（CML-AP）患者，以及對一代和二代TKI耐藥和/或不耐受的CML-CP成年患者。該藥物所有獲批適應症均已被納入中國國家醫保藥品目錄（NRDL）。目前，亞盛醫藥正在開展耐立克^®三項全球註冊III期臨床研究，分別為：獲美國FDA和歐洲EMA許可的評估耐立克^®治療新診斷費城染色體陽性急性淋巴細胞白血病（Ph+ ALL）患者POLARIS-1研究；獲美國FDA和歐洲EMA許可的評估耐立克^®治療經治CML-CP成年患者的POLARIS-2研究；評估耐立克^®治療SDH-缺陷型GIST患者的POLARIS-3研究。

公司另一重磅品種利生妥^®是一款用於治療多種血液系統惡性腫瘤的新型Bcl-2抑制劑。利生妥^®已獲中國國家藥品監督管理局（NMPA）批准，用於治療既往至少接受過一種包括布魯頓酪氨酸激酶（BTK）抑制劑在內的系統治療的成人慢性淋巴細胞白血病/小淋巴細胞淋巴瘤（CLL/SLL）患者。目前，亞盛醫藥正在開展利生妥^®四項全球註冊III期臨床研究，分別為：獲美國FDA和歐洲EMA許可的評估利生妥^®聯合BTK抑制劑治療既往接受BTK抑制劑治療超過12個月且應答不佳的CLL/SLL患者的GLORA研究；評估利生妥^®一線治療初治CLL/SLL患者的GLORA-2研究；評估利生妥^®一線治療新診斷老年或不耐受的AML患者的GLORA-3研究；以及獲美國FDA和歐洲EMA許可的評估利生妥^®一線治療新診斷中高危MDS患者的GLORA-4研究。

憑借強大的研發能力，亞盛醫藥已在全球範圍內進行知識產權佈局，並與武田、阿斯利康、默沙東、輝瑞、信達等眾多領先的生物製藥公司達成全球合作，同時與丹娜法伯癌症研究院、梅奧醫學中心、美國國家癌症研究所和密西根大學等學術機構建立研發合作關係。如需瞭解更多信息，請訪問 https://ascentage.com/

前瞻性聲明

本新聞稿包含根據美國《1995年私人證券訴訟改革法案》，以及經修訂的《1933年證券法》第27A條和《1934年證券交易法》第21E條所界定的前瞻性陳述。除歷史事實陳述外，本新聞稿中的所有內容均可能構成前瞻性陳述，包括亞盛醫藥對未來事件、經營成果或財務狀況所發表的意見、預期、信念、計劃、目標、假設或預測。

這些前瞻性陳述受到諸多風險和不確定性的影響，具體內容已在亞盛醫藥向美國證券交易委員會（SEC）提交的文件中詳細說明，包括2026年4月29日提交的20-F表格中截止2025年12月31日的年度報告中的「風險因素」和「關於前瞻性聲明的警示聲明」章節，2019年10月16日提交的首次發行上市招股書中的「前瞻性聲明」、「風險因素」章節，以及我們不時向SEC或HKEX提交的其他文件。這些因素可能導致實際業績、運營水平、經營成果或成就與前瞻性陳述中明示或暗示的信息存在重大差異。本前瞻性聲明中的陳述不構成公司管理層的利潤預測。

因此，該等前瞻性陳述不應被視為對未來事件的預測。本新聞稿中的前瞻性陳述僅基於亞盛醫藥當前對未來發展及其潛在影響的預期和判斷，且僅代表截至陳述發表之日的觀點。無論出現新信息、未來事件或其他情況，亞盛醫藥均無義務更新或修訂任何前瞻性陳述。

深圳2026年8月19日 /美通社/ --

財務亮點：

• 2026年上半年，集團實現營業收入人民幣393.6百萬元，去年同期為人民幣517.1百萬元，變動主要由於去年同期確認大額管線授權項目首付款51.0百萬美元形成較高基數。報告期內該合作進展良好，集團已收到第二筆付款19.0百萬美元；剔除該影響後，營業收入同比增長73.8%。
• AI4S智慧解決方案收入為人民幣193.5百萬元，同比增長136.4%，其中AI4S智能機器人實驗室（Physical AI）及AI4S智能服務均保持高速增長態勢。
• 2026年上半年，集團淨虧損為人民幣224.9百萬元，經調整淨虧損為人民幣105.5百萬元，主要由於收入同比下降以及研發費用同比增長66.0%。研發費用同比增長主要由於集團持續加大自主實驗室、智能體系統、在研管線及多模態技術平台的相關投入。
• 截至2026年6月30日，集團現金余額合計人民幣8,671.2百萬元。現金余額包括現金及現金等價物、銀行存款、按公允價值計入損益的金融資產的流動部分以及受限制現金。

近期業務亮點：

隨著技術平台在藥物發現及 AI4S 場景中的持續落地與商業化驗證，集團藥物管線發現與推進效率顯著提升，業務取得多項重要突破：

• 引領AI4S基礎設施發展：業界唯一貫通機器人實驗室、科學智能體及自主合成的全棧AI4S基礎設施體系，並率先實現規模化商業落地，報告期內AI4S智慧解決方案業務快速放量，同比增長136.4%。
• 最全面的AI藥物研發平台：構建小分子、大分子、多肽及小核酸四大核心技術平台，在各細分領域均已沉澱高質量、標准化的專有數據，並據此訓練形成行業領先的生成與預測模型。
• 高效建立差異化、豐富管線：合作及自研管線中，已有3條進入臨床階段，10+條處於IND獲批及IND准備階段，近10條達到PCC階段；預計到2027年，10+條管線處於臨床階段，10+條管線處於IND獲批及IND准備階段，約20條達到PCC階段。
• "實戰級"AI 突破傳統藥物研發瓶頸：AI已在多種藥物模態中持續驗證復雜研發問題解決能力，包括抗體項目實現機制創新、治療窗口優化、安全性與成藥性突破，部分分子膠管線在一個季度內實現皮摩爾級靶蛋白降解活性，口服環肽項目在靶點確定後兩個月內發現苗頭化合物，以及IgA腎病小核酸項目啟動約7個月即取得優異的非人靈長類藥效數據。
• 頭部客戶的高度認可和全方位合作：持續深化與全球頭部客戶的合作，合作內容覆蓋平台服務、模型授權、管線交易及AI4S基礎設施部署等多個維度；達成一家國際知名生物制藥公司潛在總金額超4億美元的AI藥物發現戰略合作及多項國內創新藥企合作。
• 推出自進化AI逆合成化學系統：將"化學幻覺"率降低至 4.6%，僅為業內前沿大模型的六分之一；首條推薦路線准確率高達74.3%，達到現有專業模型和通用模型的 2.2 至 3.5 倍，顯著提升AI輔助合成路線設計的可靠性與研發轉化效率。
• 全球首個實現Physical AI閉環的綜合科研開放平台：正式發布XtalPi Science科學智能平台與Genius Agent科學智能體矩陣，推動內部科研能力標准化、平台化升級，構建可供全球產業伙伴及科研機構按需調用的AI4S底層基礎設施。
• 布局領先的生物學模擬技術：通過投資、孵化等方式布局虛擬細胞、人源器官芯片及類器官等生物學模型與驗證能力，推動研發能力由分子設計延伸至細胞及組織層面的機制研究、轉化預測和藥效驗證。

業務總覽

隨著人工智能由數字世界加速延伸至科學研發及真實物理世界，AI4S正推動人工智能從輔助科研的單點工具邁向貫通推理與驗證的"科學自主發現"。集團率先提出將科學自主發現劃分為L1 Tools、L2 Co-Pilots、L3 Agents、L4 Domain-Specific Autonomous及L5 General Autonomous AI4S五個層級。依托長期真實項目實踐及能力積累，集團已在多個研發場景中實現端到端L4自主發現能力。

集團通過智能體統一調度科學模型與自動化實驗設施，形成涵蓋任務規劃、實驗驗證及反饋迭代的研發閉環。Agentic HTE可自主完成實驗條件匹配、方案生成、自動化調度、結果分析及後續實驗規劃；Agentic Synthesis則貫通原料核驗、項目創建、實驗條件生成及自動化執行全過程。依托十余年AI4S研發與產業實踐，集團已構建貫通數字研發與真實物理實驗的一體化科研基礎設施，並在真實項目中持續驗證、迭代及升級。

技術引擎：貫通數字世界和物理世界的產業級AI研發范式

圍繞復雜科研任務的全流程，集團依托長期內部研發項目及外部服務項目的持續實踐，逐步形成由Genius Agent、Scientific AI、Physical AI及Data Moat構成的四層核心技術架構。該架構是在真實產業研發流程中持續運行、驗證及迭代形成的工業級一體化科研基礎設施。

• Genius Agent（智能中樞）：作為核心調度中樞與研發矩陣，構建兼具全局規劃與特定場景執行能力的多智能體體系，統一編排科學模型、專業工具、研發流程及數據資源，並依托項目上下文持續推進長周期研發。

• Scientific AI（科學智能）：持續構建覆蓋小分子、大分子、多肽及小核酸藥物等不同分子模態和專業任務的AI能力體系。自進化AI逆合成系統SureRoute在350個真實工業分子評測中將"化學幻覺"率降至4.6%，僅為業內前沿大模型的六分之一；首條推薦路線准確率達74.3%。

• Physical AI（物理智能）：以自建的智能機器人實驗室為核心載體，將科學模型及智能體形成的實驗方案轉化為標准化、自動化及可追溯的實驗流程。集團已在全球部署逾300台自動化工站，覆蓋20余類研發場景。

• Data Moat（高質量數據底座）：融合公開科學數據、專有研發數據及Physical AI真實實驗數據，形成覆蓋實驗結果、過程參數及失敗樣本的可追溯數據資產。相關體系已服務逾100個新藥及新材料發現項目，每月產出5萬余條反應產率數據及30萬條過程數據，累計沉澱逾50萬條真實實驗記錄，其中約80%為公開文獻中較為稀缺的失敗負樣本。

商業模式：深度協同的業務布局

基於貫通數字與物理的研發體系，集團形成以藥物發現解決方案與AI4S智慧解決方案（AI4S基礎設施）為核心的雙輪業務體系, 實現了兼具持續現金流與資產價值釋放潛力的復合商業模式。

• 藥物發現解決方案圍繞 AI 制藥能力展開，涵蓋平台合作服務項目及自研資產對外授權。其中，平台合作服務項目依托AI藥物發現能力提供研發服務；自有管線資產通過對外授權、合作開發等方式，有望獲得授權首付款、裡程碑付款及潛在銷售分成。

• AI4S智慧解決方案為客戶提供AI4S基礎設施，包括AI4S智能機器人實驗室（Physical AI）及AI4S智能服務。智能機器人實驗室支持標准化、高通量實驗執行，系統性產出高質量、可追溯的實驗數據；智能服務依托創新分子砌塊、VAST虛擬化合物庫及高通量自主合成平台，提供化學空間拓展及從分子設計到實物合成的快速驗證能力。

兩大業務深度協同，實現自進化閉環：藥物發現解決方案持續產生高質量數據、實驗驗證需求及技術迭代動力，驅動AI4S智慧解決方案能力升級；AI4S智慧解決方案則為藥物發現提供高效、可復用的研發基礎設施。二者形成"場景牽引—實驗驗證—數據回流—能力進化"的自進化閉環。相關底層能力已延伸至新材料及消費健康等領域。

前景展望

AI4S 產業，尤其AIDD 領域，正處於高速增長階段。AI制藥的快速擴容帶動新分子合成與研發數據需求顯著增長，集團憑借AI原生實驗體系及領先的智能實驗室，承接頭部藥企增量訂單。中期來看，集團可通過平台技術服務獲取穩定收入，並依托資產管線交易輸出自研優質管線資產，形成"平台服務+資產變現"的雙增長動力；中長期來看，隨著自研管線逐步進入申報及臨床階段，集團將形成"研發服務+自研新藥"雙輪驅動格局。長期來看，全鏈條智能研發體系將持續提升研發效率、降低成本並改善成功率，持續沉澱專有數據與算法優勢。

業務進展

藥物發現解決方案：平台技術加速管線資產與商業化兌現

報告期內，藥物發現解決方案業務收入約人民幣200.1百萬元，去年同期為人民幣435.2百萬元，變動主要由於去年同期確認大額管線授權項目首付款51.0百萬美元形成較高基數。報告期內該合作進展良好，集團已收到第二筆付款19.0百萬美元。集團持續推進多模態藥物技術平台建設，布局具備高臨床價值與商業化潛力的自有創新藥物管線。

藥物研發平台及管線進展：多療法管線全面突破，臨床轉化加速兌現

集團已形成覆蓋小分子、大分子、小核酸及多肽等關鍵藥物形式的系統化技術布局，貫通靶點理解、分子設計、功能預測、候選物優化及實驗驗證等環節。AI已深度應用於高降解活性分子膠候選物發現、大分子蛋白質聚集問題修復與免疫原性優化，以及核酸藥物設計和個體化修飾方案推薦等研發場景。自研管線及賦能管線中，已有3條進入臨床階段，10+條處於IND獲批及IND准備階段，近10條達到PCC階段；預計到2027年，10+條管線處於臨床階段，10+條管線處於IND獲批及IND准備階段，約20條達到PCC階段。管線覆蓋腫瘤、自身免疫、代謝及慢性疾病、神經和消費健康等領域，潛在市場空間達數千億美元。

• 小分子：

小分子研發平台覆蓋AI計算預測、物理約束建模、合成路線規劃及實驗閉環驗證。面向分子膠研發的XGlue™平台已構建數百萬級虛擬化合物庫及上萬級實體骨架庫，實驗端每周可完成數百至上千個化合物的合成與驗證。集團已在自身免疫疾病領域布局多條分子膠管線，在多個靶點獲得苗頭化合物，部分管線在約一個季度內將靶蛋白降解活性優化至皮摩爾濃度；計劃於2027年推動相關項目進入臨床前階段。若後續成藥性與差異化優勢獲得驗證，相關資產有望通過合作開發或對外授權實現價值釋放。

集團自主研發的TRK/RET雙靶點小分子候選藥物在蛋白水平對雙靶點均表現出低納摩爾級抑制活性，並具備強選擇性與腸道限制屬性，從而具備優異安全窗口。該候選藥物擬用於腸易激綜合征、炎性腸病等腸道疼痛相關適應症，為全球首個針對該雙靶點組合申報臨床的候選藥物（First-in-Class）。該管線已完成美國Pre-IND會議資料遞交，預計於2026年下半年提交中美IND申報。

• 多條合作管線持續推進臨床轉化：

與希格生科合作發現的FAK/SRC雙靶點抑制劑SIGX1094已獲中美IND批件，並在北京大學腫瘤醫院開展I期臨床，初步顯示良好安全性及抗腫瘤信號，同時獲FDA孤兒藥資格及快速通道認定；SIGX1094聯合信達生物已上市的KRAS-G12C抑制劑氟澤雷塞片，擬用於KRAS-G12C突變非小細胞肺癌，其Ⅱ/Ⅲ期臨床試驗申請已獲CDE受理。與希格生科合作的pan-TEAD抑制劑SIGX2649已獲中美IND批件，計劃最早於2026年下半年啟動I期臨床。

賦能溪礫科技的eIF2B小分子激活劑RTX-117已獲得腓骨肌萎縮症（CMT）的中美臨床試驗批准及白質消融性白質腦病（VWM）的國內臨床批件，正在推進健康成人I期臨床，II期預計於2027年上半年啟動。

與默達生物合作的全球首個針對LDH（乳酸脫氫酶）的口服小分子抑制劑已進入IND申請階段，首發適應症聚焦IBD。

與智擎生技制藥合作的新一代PRMT5抑制劑PEP08已啟動實體瘤患者招募，雙方已啟動第二個針對全新合成致死靶點的AI藥物發現項目。

與DoveTree合作的一個泛癌種高價值資產已進入IND階段，初步生物學活性驗證顯示其具備明確的靶點干預效應和優異的選擇性窗口。雙方將進一步圍繞約定的難成藥靶點開展深度合作，推進包括分子膠在內的研發工作，加速候選藥物的臨床轉化。

• 大分子：

集團的大分子平台Ailux是全球領先的AI原生抗體藥物開發平台，在模型、平台和資產層面均已與跨國藥企（MNC）達成合作。Ailux的核心優勢來自模型、數據與濕實驗的深度融合。

模型：Ailux基於XtalFold®結構建模平台、XenProT®生成式AI平台和Xentient®判別式AI平台三大引擎，覆蓋從結構預測、分子生成、功能判別到候選物優化的大分子研發全流程，已在100多個內外部項目中完成驗證。

數據：專有數據底座AtlaX™通過專有濕實驗體系、高通量數據生成及LuxSight™專利挖掘智能體構建數據資源，在抗體親和力、抗原—抗體復合物結構、抗原—抗體配對和天然重輕鏈序列等關鍵數據類型上，相較公開數據集達到數倍至數十倍的規模優勢。

濕實驗：平台通過專有實驗流程生成多反應性、穩定性、免疫原性等公開數據難以覆蓋的功能性標簽，為復雜抗體藥物開發應用提供差異化的數據壁壘。

集團任命Maria G. Belvisi博士為首席科學官（CSO）。Belvisi博士兼具跨國藥企與國際學術背景，擁有三十余年新藥研發與學術領導經驗，其中約十年任職於阿斯利康，曾擔任生物制藥研發部呼吸與免疫學高級副總裁。

管線方面，集團推進三條針對自身免疫疾病的大分子項目，均預計於2027年進入I期臨床試驗：ALX001為靶向TL1A及IL-23p19的雙特異性抗體，擬用於炎症性腸病；ALX002為靶向CD19及BCMA的T細胞銜接器，擬用於系統性紅斑狼瘡、類風濕關節炎等B細胞介導的自身免疫性疾病；ALX005為長效FcRn阻斷劑抗體，擬用於重症肌無力、免疫性血小板減少症等致病性IgG抗體驅動的自身免疫性疾病。

• 多肽：

PepiX™整合精准AI設計、自動化合成及高通量濕實驗篩選三大核心能力，形成高效的干濕實驗閉環。平台已搭建包含超過5,000種私有非天然氨基酸的數據庫；核心模型HELM-DIFF用於復雜肽類分子的生成、篩選及優化。基於PepiX™開發的多肽Tensotide™已獲美國Self-affirmed GRAS認定，可在美國用於食品及膳食補充劑產品。管線方面，腦部遞送項目已進入動物體內測試和優化階段，預計2027年上半年達到PCC；針對自身免疫適應症的口服環肽項目已進入hit-to-lead階段，預計2027年中確認PCC。

• 小核酸：

siRNA藥物開發平台Kodexia™融合第一性原理驅動的生物機理建模、生成式人工智能及高通量自動化實驗，已積累數萬條濕實驗數據，並形成siRNA化學修飾數據庫。公開可比口徑下，平台研發效率較傳統方法提升2倍以上，分子性質預測准確度提升約266%；多條管線中，首輪設計分子超過50%在體內實驗中活性優於陽性對照。平台已搭建6條覆蓋IgA腎病、代謝及中樞神經系統方向的siRNA管線，超半數完成體內藥效評價，最快項目進入PCC階段。IgA腎病首發項目啟動後約7個月獲得非人靈長類藥效數據，活性與長效性優於同靶點臨床階段參照分子。相關管線後續計劃通過聯合研發、資產共研及對外授權等模式實現商業化轉化。

• 生物模擬平台：

集團通過投資、孵化等方式布局虛擬細胞、人源器官芯片及類器官。

虛擬細胞：孵化企業無界進化（INFevo）的人工智能虛擬細胞模型OCOO-T在化學藥物、基因和細胞因子三大擾動基准上均達到SOTA水平，並推出科學發現引擎The Popper Project（TPP）；2026年上半年完成數千萬元天使輪融資，由順為資本、紅杉中國與松禾資本共同參與。

器官芯片：孵化企業耀速科技完成賽諾菲iDEA-TECH項目交付並全額收回尾款，與輝瑞聯合開發的AI毒性預測系統完成關鍵裡程碑交付；作為首批企業參與CDE新方法學（NAMs）多中心協同驗證並入選"先鋒計劃"，同時推進FDA ISTAND模型資質認證；2026年上半年完成4億元A輪系列融資，B輪融資正在推進。

類器官：與希格生科合作的類器官+AI平台已構建超過15種基因編輯腫瘤類器官模型，並基於心臟、腎臟、肝臟等正常類器官結合AI建立藥物毒性預測評價模型；藥物心臟類器官毒性預測模型准確率為81.25%，傳統方法為43.75%。

重要商業化進展：重磅合作密集落地，多元化盈利模式持續深化

• 集團與一家管線豐富且擁有多款商業化產品的國際知名生物制藥公司達成潛在總金額超4億美元的AI藥物發現戰略合作。雙方將針對一個GPCR靶點共同開發具備Best-in-Class潛力的創新口服小分子藥物。合作方將支付首付款並承擔所有早期研發費用，集團還將獲得臨床前、臨床及商業化裡程碑付款，以及未來的銷售分成，項目潛在總金額超4億美元。

• 集團與維昇藥業達成關鍵合作，整合晶泰科技AI+機器人藥物研發平台與維昇藥業在內分泌領域的專業能力，聚焦內分泌代謝領域高臨床價值適應症及創新靶點，共同推進創新療法的早期發現與臨床轉化。

• 集團與東陽光藥簽署戰略合作協議，雙方擬成立合資公司，共建AI+機器人聯合實驗室及非臨床藥物大模型，開展底層技術、新藥管線開發及商業化合作。本次合作中，東陽光藥預計將投入數億元，兩家公司將以打造行業領先的AI藥物研發引擎並實現技術出海為目標，構建"管線共創+技術共贏"的多元盈利模式。

• 集團已收到DoveTree最終協議項下約定的第二筆付款19.0百萬美元，雙方將繼續在約定的難成藥靶點領域開展包括分子膠在內的研發工作。

• 集團與甘李藥業於2025年11月達成AI多肽創新藥研發全球戰略合作及平台授權協議，目前項目正在推進。雙方聯合共建的"AI智肽遞送實驗室"（人工智能多肽藥物設計與遞送系統研發北京市重點實驗室）獲"北京市重點實驗室"認定並正式揭牌。

AI4S智慧解決方案：AI4S平台價值加速兌現，收入呈現跨越式增長態勢

報告期內，AI4S智慧解決方案實現收入人民幣193.5百萬元，同比增長136.4%，AI4S智能機器人實驗室（Physical AI）及AI4S智能服務均保持高速增長。

AI4S智能機器人實驗室（Physical AI）：嵌入分子研發流程，實現規模化放量

報告期內，集團AI4S智能機器人實驗室業務在海外及國內市場均取得進展。海外市場方面，禮來化合物管理系統完成簽約及交付，首套HTE系統完成工廠驗收測試（FAT）及用戶培訓；與JW合作的智能自主藥物合成和工藝研發系統項目於4月完成全部交付。國內市場方面，集團布局多個千萬級項目；智能合成工作站作為准標准化產品，已復制推廣至13家客戶。相關能力亦拓展至鈣鈦礦、鋰電及分子篩等新材料領域。

報告期內，集團的AI4S智能機器人實驗室業務成功落地多個標桿項目：

• 集團與禮來簽署千萬級化合物倉儲管理系統項目，並完成上海研發中心的交付。系統覆蓋化合物存儲、出庫、微量粉末分裝及DMSO溶液配制樣品輸出，將樣品管理與制備整合至統一自動化平台。

• 集團與禮來簽署千萬級HTE（高通量實驗）平台合作項目。集團為客戶提供以條件篩選手套箱為核心的模塊化高通量實驗平台，支持無水無氧體系下的自動化投料、反應、稀釋及過濾，並與晶泰Agentic AI算法對接。

• 集團為JW提供的高通量自動化合成工站、AI反應條件優化系統及智能分析平台已於4月完成全部交付。該平台可滿足JW在自動化藥物候選分子篩選、合成與工藝優化方向的研發需求。

• 國內及新材料項目：
  集團與復旦大學吳淞材料實驗室簽署百萬級介孔材料智能化高通量制備項目；與某頂尖高校簽署百萬級鈣鈦礦電池全流程自動化項目；與北京大學、大連化物所等簽署百萬級電解液高通量自動化配制與檢測平台項目。

AI4S智能服務：全流程AI自主決策實現關鍵跨越，業務訂單高速增長

集團通過創新分子砌塊及VAST虛擬化合物庫支持化學空間拓展，並通過高通量自主合成平台形成"設計—合成—測試—分析"的DMTA高效閉環。2026年上半年新簽訂單金額高速增長，其中VAST虛擬化合物庫獲得超過2萬個分子的訂單。

報告期內，搭建Agentic Synthesis（智能自主分子合成）和Agentic HTE（智能自主高通量實驗）兩大解決方案並實現商業化，實現AI全流程自主決策。

• Agentic Synthesis：該自主合成平台以Agentic System為中樞，聯通Scientific AI與Physical AI，實現從目標分子到終產物交付的10步閉環。SureRXN™可合成性預測與條件推薦模塊實驗成功率超過90%，平均實驗次數降至1.19次；高壓分離算法自動化率為76%，首交付成功率由83%提升至94%；LCMS圖譜算法整體預測精度為95%，高置信區間為98%；NMR解譜算法在4個項目中實現超過70%譜圖的自動化解析。在Agentic System層面，7個專職Agent協同覆蓋從立項到發貨的全生命周期。

• Agentic HTE：該端到端高通量實驗解決方案以Agentic System為中樞，聯通Scientific AI與Physical AI，通過意圖理解、技能編排、長任務治理及人機協作，將傳統HTE實驗所需的3至4周迭代周期壓縮至約6天。

在強化AI全流程自主決策能力的同時，集團也在拓展上游化學空間的設計與合成能力。集團於2025年6月完成對LCC的收購。其開發的PACE（Parallel Automated Chiral Engine，並行自動化手性引擎）平台結合AI軟件與自動化技術，可在上億個分子的手性化學庫中虛擬篩選目標分子並完成自動化合成及實體測試。該平台已通過內部藥物發現項目驗證。目前，LCC正與大型制藥公司、生物技術企業及頂尖研究機構進行後期階段洽談，計劃圍繞PACE平台開展合作，為合作方的高優先級靶點創造知識產權及資產。

新材料及消費健康：AI4S底層能力拓寬應用邊界，取得階段性突破

依托集團"科學智能（Scientific AI）、物理智能（Physical AI）、智能體系統（Agentic System）"AI自主研發閉環在藥物研發中的系統性驗證，集團核心能力正拓展至新材料及消費健康等場景。

新材料：智能研發平台賦能新材料，鈣鈦礦疊層電池研發實現跨越式進展

集團已組建新材料研發團隊。報告期內，集團與晶科能源子公司簽署AI+自動化高通量疊層太陽能電池研發戰略合作協議，雙方已成立合資公司，共建全球首個"AI決策—機器人執行—數據反饋"全閉環疊層電池智造線，項目正在推進。集團構建了AI及自動化實驗室驅動的鈣鈦礦配方研發平台。小面積組件實驗室效率為27.0%，第三方認證效率為26.51%；大面積組件實驗室效率為23.0%，第三方認證效率為22.74%。高通量疊層電池自動化線設計日通量不低於千片級。相較傳統人工研發，單輪優化周期由數月壓縮至數小時，整體研發周期由4至6年縮短至1至6個月。

消費健康： Groland品牌全域渠道建設，商業化進程有序推進

報告期內，晶泰自研兩款針對生發固發需求的創新外用分子的聯用配方產品Groland高嵐完成市場驗證及品牌搭建，初步構建覆蓋海內外、線上線下的營銷網絡。品牌運營天貓、京東及抖音自營店鋪，天貓綠瓶頭皮煥活精華位列"防脫頭皮精油新品榜"TOP1，618期間天貓店鋪入圍個護新商店鋪成交榜TOP3。品牌已形成覆蓋預洗、洗發、護發、免洗護理、生發精華及紅光生發梳的產品矩陣。兩款分子已通過中國化妝品新原料備案，大貿版本預計於2026年底前完成備案和上線。

戰略升級：以XtalPi Science向開放科學智能基礎設施平台演進

2026年7月，集團發布XtalPi Science科學智能平台及Genius Agent科學智能體矩陣。XtalPi Science是全球首個整合大語言模型（LLM）、科學智能體及大規模自動化機器人實驗的AI4S綜合平台，將集團經真實項目驗證的一體化科研基礎設施進一步標准化、平台化，轉化為可統一接入、按需編排及持續擴展的平台能力，逐步構建面向全球產業伙伴及科研機構的科學基礎設施（Global Scientific Utility），為跨機構研發協作及科學智能的規模化應用提供統一入口。

Genius Agent作為核心調度中樞與研發矩陣，可自主理解復雜科研目標、拆解並推進跨學科長程任務，並統一調度垂直領域模型、專業工具、研發流程及物理執行設施。平台在數字世界開展科學假設生成及專業預測，並通過Physical AI在真實物理世界進行實驗驗證，形成"數字假設—專業預測—物理驗證—數據反饋"完整閉環。

集團聯合26家合作伙伴發起成立"科學智能開放生態聯盟"，成員覆蓋科學創新鏈條的多個環節。同時，XtalPi Science計劃以Science Token作為科研資源統一調用及計量機制，並結合客戶需求及不同研發場景，探索多元的平台服務及合作模式，持續向開放科學智能基礎設施平台演進。

關於晶泰科技

晶泰科技（「XtalPi Holdings Limited」，股份簡稱：晶泰控股，XTALPI，股票代碼：2228.HK）由三位麻省理工學院的物理學家於2015年創立，是一個基於量子物理、以人工智能賦能和機器人驅動的創新型研發平台。公司采用基於量子物理的第一性原理計算、人工智能、高性能雲計算以及可擴展及標准化的機器人自動化相結合的方式，為制藥及材料科學（包括農業技術、能源及新型化學品以及化妝品）等產業的全球和國內公司提供藥物及材料科學研發解決方案及服務。

香港2026年8月19日 /美通社/ -- 中國領先的創新驅動型製藥企業中國生物製藥有限公司，在中期業績發佈會上宣佈推出新的全球品牌SBP Group。SBP分別代表Science（科學）、Breakthroughs（突破）和Patients（患者）：以科學為原點、以創新突破為抓手、以惠及全球患者為終點。這一理念與公司「健康科技，溫暖更多生命」的使命一脈相承。

統一的品牌形象，體現了公司從國內領先的生物製藥企業向全球創新者的戰略演進。這一轉型從兩個方面同步推進：一是產品全球化，依托「自研+BD+並購」，比如先後收購禮新、赫吉亞，打造全球化的創新資產管線；二是運營全球化，著力構建「高全球化+高本土化」雙高佈局，根據不同市場因地制宜、分區施策。在持續對全球人才、組織能力和基礎設施投入的支持下，公司致力於為全球更多患者帶來創新藥物。

公司董事會主席謝其潤女士表示：「2026年是我們執行全球化戰略的元年，我們已取得顯著進展。SBP Group願聯動全球合作夥伴，加速中國創新走向全球、全球創新進入中國的進程。同時我們也將通過AI驅動的全鏈條創新體系，加速全球前沿科學、突破性創新的進展。我們始終記得：一切科學突破的意義，最終在於他能否真正抵達患者、改善生活。」

截至目前，公司已與跨國公司完成四筆對外授權交易，累計首付款超過10億美元，總潛在交易價值超過70億美元，並完成了超過30項併購、授權及戰略合作交易。2026年的關鍵交易包括：(i) 將首創雙靶點JAK/ROCK抑制劑羅伐昔替尼獨家授權給賽諾菲，交易價值最高可達15.3億美元；以及 (ii) 將用於治療慢性阻塞性肺病（COPD）的吸入性PDE3/4抑制劑TQC3721 海外權益獨家授權給阿斯利康，交易價值最高可達19億美元。

關於SBP Group

中國生物製藥有限公司（HKEX: 01177，簡稱「SBP Group」）是中國領先的創新驅動型製藥企業。公司具備覆蓋研發、生產及商業化全價值鏈的端到端能力。其產品組合涵蓋廣泛的生物藥和小分子藥物，在腫瘤、肝病/心血管代謝疾病、呼吸系統/自身免疫性疾病，以及外科/鎮痛這四大核心治療領域，擁有強大的領導地位。

SHENZHEN, China, Aug. 19, 2026 /PRNewswire/ -- 

Financial Highlights:

• In the first half of 2026, the Group recorded revenue of RMB393.6 million, compared with RMB517.1 million in the corresponding period of last year. The change was primarily attributable to the high base in the corresponding period of last year, which reflected the recognition of an upfront payment of US$51.0 million from a major pipeline licensing project. The collaboration progressed well during the Reporting Period, and the Group received the second payment of US$19.0 million. Excluding this impact, revenue increased by 73.8% year on year.
• Revenue from AI4S Intelligent Solutions amounted to RMB193.5 million, representing a year-on-year increase of 136.4%, with both AI4S Intelligent Robotic Laboratories (Physical AI) and AI4S Intelligent Services maintaining rapid growth.
• In the first half of 2026, the Group recorded a net loss of RMB224.9 million and an adjusted net loss of RMB105.5 million, primarily due to the year-on-year decline in revenue and a 66.0% year-on-year increase in R&D expenses. The increase in R&D expenses was mainly attributable to the Group's continued investment in its autonomous laboratories, agent systems, pipeline programs under development and multimodal technology platforms.
• As of June 30, 2026, the Group had a total cash balance of RMB8,671.2 million, comprising cash and cash equivalents, bank deposits, the current portion of financial assets at fair value through profit or loss, and restricted cash.

Business Highlights:

As the Group's technology platforms continued to be deployed and commercially validated across drug discovery and AI4S scenarios, the efficiency of pipeline discovery and advancement improved significantly, driving a number of important business breakthroughs:

• Leading the development of AI4S infrastructure: The industry's only full-stack AI4S infrastructure system integrating robotic laboratories, Scientific Agents and autonomous synthesis, and among the first to achieve commercial deployment at scale. During the Reporting Period, AI4S Intelligent Solutions scaled rapidly, with revenue increasing by 136.4% year on year.
• The most comprehensive AI drug R&D platform: Established four core technology platforms spanning small molecules, large molecules, peptides and oligonucleotides. Across each field, the Group has accumulated high-quality, standardized proprietary data and used it to train industry-leading generative and predictive models.
• Efficient development of a differentiated and diversified pipeline portfolio: Among the Group's partnered and proprietary pipelines, three have entered the clinical stage, more than 10 have received IND approval or reached the IND preparation stage, and nearly 10 have reached the preclinical candidate (PCC) stage. By 2027, more than 10 pipelines are expected to be in the clinical stage, more than 10 to have received IND approval or reached the IND preparation stage, and approximately 20 to have reached the PCC stage.
• "Real-world-ready" AI addressing traditional drug R&D bottlenecks: AI has continued to demonstrate its ability to solve complex R&D challenges across multiple drug modalities. These include achieving novel mechanisms of action, optimized therapeutic windows, and breakthroughs in safety and druggability in antibody programs; optimizing target protein degradation activity to picomolar concentrations within one quarter in certain molecular glue programs; identifying hit compounds within two months of target selection in an oral cyclic peptide program; and generating strong non-human primate efficacy data approximately seven months after initiating an oligonucleotide program for IgA nephropathy.
• Strong recognition and broad-based collaboration with leading customers: Continued to deepen collaborations with leading global customers across platform services, model licensing, pipeline transactions and AI4S infrastructure deployment. The Group also entered into a strategic AI drug discovery collaboration with a renowned international biopharmaceutical company with a total potential value exceeding US$400 million, as well as multiple collaborations with domestic innovative pharmaceutical companies.
• Launched a self-evolving AI retrosynthesis system: Reduced the chemical hallucination rate to 4.6%, only one-sixth that of leading large models in the industry. Its top-1 recommended route accuracy reached 74.3%, 2.2 to 3.5 times that of existing specialized and general-purpose models, materially enhancing the reliability and R&D translation efficiency of AI-assisted synthetic route design.
• The world's first comprehensive open scientific research platform with a closed Physical AI loop: Officially launched the XtalPi Science platform and the Genius Agent suite of Scientific Agents, standardizing and platformizing the Group's internal scientific research capabilities and building underlying AI4S infrastructure that global industry partners and research institutions can access on demand.
• Building leading biological simulation capabilities: Expanded biological modeling and validation capabilities through investments, incubation and other approaches in virtual cells, human organ-on-a-chip models and organoids, extending R&D capabilities from molecular design to mechanism studies, translational prediction and efficacy validation at the cellular and tissue levels.

Business Overview

As AI rapidly extends from the digital world into scientific R&D and the physical world, AI4S is advancing AI from isolated tools that assist research toward "autonomous scientific discovery" spanning reasoning through validation. The Group was among the first to classify autonomous scientific discovery into five levels: L1 Tools, L2 Co-Pilots, L3 Agents, L4 Domain-Specific Autonomous and L5 General Autonomous AI4S. Drawing on extensive real-world project experience and accumulated capabilities, the Group has achieved end-to-end L4 autonomous discovery across multiple R&D scenarios.

Through unified agent-based orchestration of scientific models and automated experimental facilities, the Group has established an R&D closed loop encompassing task planning, experimental validation and iterative feedback. Agentic HTE can autonomously match experimental conditions, generate protocols, orchestrate automation, analyze results and plan subsequent experiments. Agentic Synthesis connects the full workflow from raw-material verification and project creation through experimental-condition generation and automated execution. Drawing on more than a decade of AI4S R&D and industry experience, the Group has built integrated scientific research infrastructure connecting digital R&D with real-world physical experimentation, which continues to be validated, iterated and upgraded through real-world projects.

Technology Engine: An Industrial-Grade AI R&D Paradigm Connecting the Digital and Physical Worlds

Across the full workflow of complex scientific research tasks, and through sustained execution of internal R&D and external service projects, the Group has progressively established a four-layer core technology architecture comprising Genius Agent, Scientific AI, Physical AI and the Data Moat. This industrial-grade, integrated scientific research infrastructure has been continuously operated, validated and iterated within real-world industrial R&D workflows.

• Genius Agent (Intelligent Hub): As the core orchestration hub and R&D matrix, Genius Agent establishes a multi-agent system combining global planning with scenario-specific execution. It centrally orchestrates scientific models, specialized tools, R&D workflows and data resources, while using project context to continuously advance long-horizon R&D.

• Scientific AI: The Group continues to develop AI capabilities spanning different molecular modalities and specialized tasks, including small molecules, large molecules, peptides and oligonucleotide therapeutics. In an evaluation involving 350 real-world industrial molecules, SureRoute, its self-evolving AI retrosynthesis system, reduced the chemical hallucination rate to 4.6%, only one-sixth that of leading large models in the industry, and achieved a top-1 recommended route accuracy of 74.3%.

• Physical AI: Centered on the Group's proprietary Intelligent Robotic Laboratories, Physical AI translates experimental plans generated by scientific models and agents into standardized, automated and traceable experimental workflows. The Group has deployed more than 300 automated workstations worldwide, covering over 20 types of R&D scenarios.

• Data Moat (High-Quality Data Foundation): Integrates public scientific data, proprietary R&D data and real-world experimental data generated by Physical AI to create traceable data assets encompassing experimental results, process parameters and failed experiments. The system has supported more than 100 drug and advanced materials discovery projects, generating over 50,000 reaction-yield data points and 300,000 process data points each month. It has accumulated more than 500,000 real-world experimental records, approximately 80% of which are negative results from failed experiments that are relatively scarce in published literature.

Business Model: A Deeply Integrated Business Portfolio

Built on its R&D system connecting the digital and physical worlds, the Group has established a dual-engine business model centered on Drug Discovery Solutions and AI4S Intelligent Solutions (AI4S Infrastructure), combining recurring cash flow with the potential for asset value realization.

• Drug Discovery Solutions are built around the Group's AI-driven drug discovery capabilities and encompass platform-based collaboration services and the out-licensing of proprietary assets. Platform-based collaboration projects provide R&D services by leveraging the Group's AI drug discovery capabilities, while proprietary pipeline assets may generate upfront licensing payments, milestone payments and potential royalties through out-licensing, co-development and other arrangements.

• AI4S Intelligent Solutions provide customers with AI4S infrastructure comprising AI4S Intelligent Robotic Laboratories (Physical AI) and AI4S Intelligent Services. The Intelligent Robotic Laboratories support standardized, high-throughput experimental execution and systematically generate high-quality, traceable experimental data. Leveraging innovative molecular building blocks, the VAST Virtual Compound Library and a high-throughput autonomous synthesis platform, AI4S Intelligent Services enable chemical-space expansion and rapid validation from molecular design through physical synthesis.

The two businesses operate in deep synergy to create a self-evolving closed loop. Drug Discovery Solutions continuously generate high-quality data, demand for experimental validation and momentum for technological iteration, driving capability upgrades in AI4S Intelligent Solutions. In turn, AI4S Intelligent Solutions provide efficient, reusable R&D infrastructure for drug discovery. Together, they form a self-evolving closed loop of "scenario-driven development, experimental validation, data feedback and capability evolution." The underlying capabilities have also been extended to advanced materials, consumer health and other fields.

Outlook

The AI4S industry, particularly AI-driven drug discovery (AIDD), is in a period of rapid growth. The rapid expansion of AI-driven drug discovery is driving significant demand for novel molecule synthesis and R&D data. Leveraging its AI-native experimentation system and leading intelligent laboratories, the Group is capturing incremental orders from leading pharmaceutical companies. Over the medium term, the Group can generate stable revenue through platform-based technology services while monetizing high-quality proprietary pipeline assets through pipeline transactions, creating dual growth drivers from platform services and asset monetization. Over the medium to long term, as proprietary pipelines advance toward regulatory filings and clinical development, the Group is expected to establish a dual-engine growth model combining R&D services with proprietary drug development. Over the long term, its end-to-end intelligent R&D system will continue to improve efficiency, reduce costs and increase success rates, while strengthening its proprietary data and algorithmic advantages.

Business Progress

Drug Discovery Solutions: Platform Technologies Accelerating Pipeline Asset Development and Commercialization

During the Reporting Period, revenue from Drug Discovery Solutions amounted to approximately RMB200.1 million, compared with RMB435.2 million in the corresponding period of last year. The change was primarily attributable to the high base in the corresponding period of last year, when an upfront payment of US$51.0 million from a major pipeline licensing project was recognized. The collaboration progressed well during the Reporting Period, and the Group received the second payment of US$19.0 million. The Group continued to advance its multimodal drug technology platforms and develop proprietary innovative drug pipelines with substantial clinical value and commercial potential.

Drug R&D Platforms and Pipeline Progress: Broad-Based Advances across Therapeutic Modalities, Accelerating Clinical Translation

The Group has established a systematic technology portfolio covering key drug modalities, including small molecules, large molecules, oligonucleotides and peptides, spanning target understanding, molecular design, function prediction, candidate optimization and experimental validation. AI has been deeply integrated into R&D scenarios including the discovery of molecular glue candidates with high degradation activity, remediation of protein aggregation and immunogenicity optimization for large molecules, and oligonucleotide drug design and personalized modification recommendations. Among the Group's proprietary and partnered pipelines, three have entered the clinical stage, more than 10 have received IND approval or reached the IND preparation stage, and nearly 10 have reached the PCC stage. By 2027, more than 10 pipelines are expected to be in the clinical stage, more than 10 to have received IND approval or reached the IND preparation stage, and approximately 20 to have reached the PCC stage. The pipelines span oncology, autoimmune diseases, metabolic and chronic diseases, neurological disorders and consumer health, representing potential markets worth hundreds of billions of U.S. dollars.

• Small Molecules:

The small-molecule R&D platform encompasses AI-powered computational prediction, physics-constrained modeling, synthetic route planning and closed-loop experimental validation. The XGlue™ platform for molecular glue discovery has built a virtual compound library containing millions of compounds and a physical scaffold library containing tens of thousands of scaffolds, while its experimental operations can synthesize and validate hundreds to more than 1,000 compounds each week. The Group has established multiple molecular glue programs for autoimmune diseases and identified hits against multiple targets. For certain programs, target protein degradation activity was optimized to picomolar concentrations in approximately one quarter. The Group plans to advance the relevant projects into the preclinical stage in 2027. If their druggability and differentiated advantages are subsequently validated, these assets may realize value through co-development or out-licensing.

The Group's proprietary TRK/RET dual-target small-molecule candidate demonstrated low-nanomolar inhibition of both targets at the protein level, together with strong selectivity and gut-restricted properties, resulting in an excellent safety window. Intended for gut pain-related indications including irritable bowel syndrome and inflammatory bowel disease, it is the world's first candidate targeting this dual-target combination to be filed for clinical development (First-in-Class). The program has completed submission of materials for a U.S. pre-IND meeting, and the Group expects to submit IND applications in both the United States and China in the second half of 2026.

• Multiple Partnered Pipelines Continued to Advance toward Clinical Translation:

SIGX1094, a dual FAK/SRC inhibitor discovered in collaboration with Signet Therapeutics, has received IND clearance in both China and the United States and is undergoing a Phase I clinical trial at Peking University Cancer Hospital. Preliminary results have shown a favorable safety profile and antitumor signals. It has also received orphan drug designation and fast track designation from the U.S. FDA. The CDE has accepted an application for a Phase II/III clinical trial of SIGX1094 in combination with Innovent Biologics' approved KRAS-G12C inhibitor fulzerasib tablets for KRAS-G12C-mutated non-small cell lung cancer. SIGX2649, a pan-TEAD inhibitor being developed with Signet Therapeutics, has received IND clearance in both China and the United States. A Phase I clinical trial is planned to begin as early as the second half of 2026.

RTX-117, an eIF2B small-molecule activator enabled for ReviR Therapeutics, has received clinical trial approvals in China and the United States for Charcot–Marie–Tooth disease and clinical trial approval in China for vanishing white matter disease. A Phase I trial in healthy adults is underway, and a Phase II trial is expected to begin in the first half of 2027.

The world's first oral small-molecule inhibitor of LDH (lactate dehydrogenase), being developed in collaboration with Meta Pharmaceuticals, has entered the IND application stage, with IBD as its lead indication.

PEP08, a next-generation PRMT5 inhibitor being developed in collaboration with PharmaEngine, has begun enrolling patients with solid tumors. The parties have also initiated a second AI drug discovery program targeting a novel synthetic lethal target.

A high-value, tumor-agnostic asset being developed with DoveTree has entered the IND stage. Preliminary biological activity validation demonstrated a clear target intervention effect and an excellent selectivity window. The parties will further deepen their collaboration on the agreed difficult-to-drug targets, advance R&D efforts including those involving molecular glues, and accelerate the clinical translation of drug candidates.

• Large Molecules:

The Group's large-molecule platform, Ailux, is a globally leading AI-native antibody drug development platform and has established collaborations with multinational pharmaceutical companies (MNCs) across its models, platforms and assets. Ailux's core strength lies in the deep integration of models, data and wet-lab experimentation.

Models: Ailux is powered by three core engines—the XtalFold® structural modeling platform, the XenProT® generative AI platform and the Xentient® discriminative AI platform—covering the full large-molecule R&D workflow from structure prediction and molecular generation to function assessment and candidate optimization. The platform has been validated across more than 100 internal and external projects.

Data: The proprietary AtlaX™ data foundation builds data resources through proprietary wet-lab systems, high-throughput data generation and the LuxSight™ patent-mining agent. Across key data types including antibody affinity, antigen–antibody complex structures, antigen–antibody pairing and native heavy- and light-chain sequences, AtlaX™ offers a scale advantage ranging from several-fold to tens of times that of public datasets.

Wet Lab: The platform uses proprietary experimental workflows to generate functional labels for polyreactivity, stability, immunogenicity and other properties that are difficult to capture in public datasets, creating a differentiated data moat for complex antibody drug development.

The Group appointed Dr. Maria G. Belvisi as Chief Scientific Officer. Dr. Belvisi brings experience across multinational pharmaceutical companies and international academia and has more than 30 years of leadership experience in drug R&D and academia. She spent approximately 10 years at AstraZeneca, where she served as Senior Vice President of Respiratory and Immunology in BioPharmaceuticals R&D.

The Group is advancing three large-molecule programs for autoimmune diseases, all of which are expected to enter Phase I clinical trials in 2027: ALX001, a bispecific antibody targeting TL1A and IL-23p19 for inflammatory bowel disease; ALX002, a T-cell engager targeting CD19 and BCMA for B-cell-mediated autoimmune diseases including systemic lupus erythematosus and rheumatoid arthritis; and ALX005, a long-acting FcRn-blocking antibody for pathogenic IgG antibody-driven autoimmune diseases including myasthenia gravis and immune thrombocytopenia.

• Peptides:

PepiX™ integrates precision AI design, automated synthesis and high-throughput wet-lab screening to create an efficient dry- and wet-lab closed loop. The platform has established a proprietary database containing more than 5,000 unnatural amino acids, and its core HELM-DIFF model is used to generate, screen and optimize complex peptide molecules. Tensotide™, a peptide developed using PepiX™, has achieved self-affirmed GRAS status in the United States and may be used in food and dietary supplement products in the United States. The brain-delivery program has entered in vivo animal testing and optimization and is expected to reach PCC in the first half of 2027. An oral cyclic peptide program for autoimmune indications has entered the hit-to-lead stage and is expected to achieve PCC by mid-2027.

• Oligonucleotides:

Kodexia™, the Group's siRNA drug development platform, integrates first-principles-driven biological mechanism modeling, generative AI and high-throughput automated experimentation. It has accumulated tens of thousands of wet-lab data points and established an siRNA chemical modification database. Based on publicly comparable metrics, the platform has more than doubled R&D efficiency relative to conventional methods and improved molecular property prediction accuracy by approximately 266%. Across multiple pipelines, more than 50% of molecules from the first design round demonstrated better in vivo activity than positive controls. The platform has built six siRNA programs spanning IgA nephropathy, metabolic diseases and central nervous system disorders; more than half have completed in vivo efficacy evaluations, and the most advanced program has reached the PCC stage. The lead IgA nephropathy program generated non-human primate efficacy data approximately seven months after initiation and demonstrated better potency and durability than a clinical-stage reference molecule against the same target. The Group plans to commercialize the relevant programs through joint R&D, asset co-development, out-licensing and other models.

• Biological Simulation Platforms:

Through investments, incubation and other approaches, the Group has expanded into virtual cells, human organ-on-a-chip models and organoids.

Virtual Cells: OCOO-T, an AI virtual cell model developed by XtalPi-incubated company INFevo, achieved state-of-the-art performance across three perturbation benchmarks covering chemical compounds, genes and cytokines. INFevo also launched The Popper Project (TPP), a scientific discovery engine. In the first half of 2026, INFevo completed an angel financing round raising tens of millions of RMB, with participation from Shunwei Capital, Sequoia China and Green Pine Capital Partners.

Organ-on-a-Chip: XtalPi-incubated company Xellar Biosystems completed delivery of Sanofi's iDEA-TECH project and collected the final payment in full. Its AI-powered toxicity prediction system jointly developed with Pfizer also achieved a key delivery milestone. As one of the first companies to participate in the CDE's multicenter collaborative validation of new approach methodologies (NAMs), Xellar Biosystems was selected for the "Pioneer Program" and is also advancing model qualification under the U.S. FDA's ISTAND program. Xellar Biosystems completed a RMB400 million Series A financing in the first half of 2026 and is currently advancing its Series B financing.

Organoids: The organoid-plus-AI platform developed in collaboration with Signet Therapeutics has established more than 15 gene-edited tumor organoid models. It has also combined AI with normal organoids of the heart, kidney and liver to establish drug toxicity prediction and evaluation models. Its drug cardiotoxicity prediction model based on cardiac organoids achieved an accuracy rate of 81.25%, compared with 43.75% for conventional methods.

Key Commercial Progress: Multiple Major Collaborations, Further Diversifying Monetization Models

• The Group entered into a strategic AI drug discovery collaboration with a renowned international biopharmaceutical company that has a broad pipeline and multiple commercialized products. The collaboration has a total potential value exceeding US$400 million. The parties will jointly develop a potentially best-in-class innovative oral small-molecule drug against a GPCR target. The partner will pay an upfront payment and fund all early-stage R&D expenses. The Group will also be eligible to receive preclinical, clinical and commercial milestone payments, as well as royalties on future sales.

• The Group entered into a key collaboration with Visen Pharmaceuticals, integrating XtalPi's AI-driven robotic drug R&D platform with Visen Pharmaceuticals' expertise in endocrinology to focus on indications with high clinical value and innovative targets in endocrinology and metabolic diseases, and to jointly advance the early discovery and clinical translation of innovative therapies.

• The Group signed a strategic collaboration agreement with Sunshine Lake Pharma. The parties intend to establish a joint venture to jointly develop an AI-driven robotic laboratory and a foundation model for preclinical drug development, and to collaborate on underlying technologies, innovative drug pipelines and commercialization. Sunshine Lake Pharma is expected to invest several hundred million RMB. The two companies aim to build an industry-leading AI drug discovery engine, bring the technology to international markets and establish a diversified monetization model centered on "pipeline co-creation and shared success through technology."

• The Group received the second payment of US$19.0 million stipulated under the definitive agreement with DoveTree. The parties will continue R&D activities, including work on molecular glues, against the agreed hard-to-drug targets.

• In November 2025, the Group and Gan & Lee Pharmaceuticals entered into a global strategic collaboration and platform licensing agreement for the R&D of innovative AI-designed peptide drugs. The project is progressing. The jointly established "AI-Driven Intelligent Peptide Delivery Laboratory" — Beijing Key Laboratory of Artificial Intelligence for Peptide Drug Design and Delivery Systems — was officially recognized as a Beijing Key Laboratory and inaugurated.

AI4S Intelligent Solutions: Accelerating Platform Value Realization and Delivering Breakthrough Revenue Growth

During the Reporting Period, AI4S Intelligent Solutions generated revenue of RMB193.5 million, representing a year-on-year increase of 136.4%, with both AI4S Intelligent Robotic Laboratories (Physical AI) and AI4S Intelligent Services maintaining rapid growth.

AI4S Intelligent Robotic Laboratories (Physical AI): Embedded into Molecular R&D Workflows to Drive Scalable Growth

During the Reporting Period, the Group's AI4S Intelligent Robotic Laboratory business made progress in both overseas and domestic markets. Overseas, the compound management system for Eli Lilly was contracted and delivered, while the first HTE system completed factory acceptance testing (FAT) and user training. The intelligent autonomous drug synthesis and process R&D system developed with JW Pharmaceutical was fully delivered in April. In China, the Group secured multiple projects valued at tens of millions of RMB, while its intelligent synthesis workstation, a semi-standardized product, was replicated and deployed across 13 customers. These capabilities have also expanded into advanced materials fields including perovskites, lithium batteries and molecular sieves.

During the Reporting Period, the Group's AI4S Intelligent Robotic Laboratory business successfully delivered multiple flagship projects:

• The Group signed a compound storage and management system project worth tens of millions of RMB with Eli Lilly and completed delivery at its Shanghai R&D center. The system covers compound storage and retrieval, micro-powder dispensing, and sample preparation and output in DMSO solutions, integrating sample management and preparation on a unified automated platform.

• The Group signed an HTE (high-throughput experimentation) platform collaboration project worth tens of millions of RMB with Eli Lilly. The Group is providing a modular high-throughput experimentation platform centered on a condition-screening glovebox, supporting automated dispensing, reactions, dilution and filtration under anhydrous and oxygen-free conditions and connecting with XtalPi's Agentic AI algorithms.

• The high-throughput automated synthesis workstation, AI-powered reaction condition optimization system and intelligent analytics platform provided by the Group to JW Pharmaceutical were fully delivered in April. The platform supports JW Pharmaceutical's R&D requirements in automated drug candidate screening, synthesis and process optimization.

• Domestic and Advanced Materials Projects:

The Group signed a mesoporous materials intelligent high-throughput preparation project worth millions of RMB with Wusong Materials Laboratory of Fudan University; an end-to-end automated perovskite solar cell project worth millions of RMB with a leading university; and high-throughput automated electrolyte preparation and testing platform projects worth millions of RMB with Peking University, the Dalian Institute of Chemical Physics and other institutions.

AI4S Intelligent Services: A Key Advance in End-to-End Autonomous AI Decision-Making, Driving Rapid Order Growth

The Group supports chemical-space expansion through innovative molecular building blocks and the VAST Virtual Compound Library and has established a design–make–test–analyze (DMTA) closed loop through its high-throughput autonomous synthesis platform. The value of new orders signed in the first half of 2026 grew rapidly, including orders for more than 20,000 molecules through the VAST Virtual Compound Library.

During the Reporting Period, the Group developed and commercialized two solutions—Agentic Synthesis and Agentic HTE—enabling autonomous AI decision-making across the entire workflow.

• Agentic Synthesis: Centered on an Agentic System connecting Scientific AI with Physical AI, the autonomous synthesis platform creates a ten-step closed loop from target molecule to final-product delivery. The SureRXN™ synthesizability prediction and condition recommendation module achieved an experimental success rate of over 90%, reducing the average number of experiments to 1.19. The high-pressure separation algorithm achieved an automation rate of 76%, while increasing the first-delivery success rate from 83% to 94%. The LCMS spectral analysis algorithm achieved an overall prediction accuracy of 95%, rising to 98% within the high-confidence range. The NMR spectral interpretation algorithm automatically analyzed more than 70% of spectra across four projects. At the Agentic System level, seven dedicated agents work together across the full lifecycle from project initiation to product shipment.

• Agentic HTE: This end-to-end high-throughput experimentation solution is centered on an Agentic System that connects Scientific AI with Physical AI. Through intent understanding, skill orchestration, long-running task management and human–AI collaboration, it shortens the conventional HTE iteration cycle from three to four weeks to approximately six days.

While strengthening its end-to-end autonomous AI decision-making capabilities, the Group is also expanding its capabilities in upstream chemical-space design and synthesis. In June 2025, the Group completed the acquisition of LCC. Its PACE (Parallel Automated Chiral Engine) platform integrates AI software with automation technologies to virtually screen target molecules from a chiral chemical library comprising hundreds of millions of molecules, followed by automated synthesis and physical testing. The platform has been validated through internal drug discovery projects. LCC is currently in late-stage discussions with major pharmaceutical companies, biotechnology companies and leading research institutions regarding collaborations centered on PACE, with the aim of creating intellectual property and assets against partners' high-priority targets.

Advanced Materials and Consumer Health: AI4S Capabilities Broadening Applications and Achieving Key Milestones

Building on the systematic validation in drug R&D of the Group's autonomous AI R&D closed loop comprising Scientific AI, Physical AI and the Agentic System, the Group is extending its core capabilities into advanced materials, consumer health and other scenarios.

Advanced Materials: Intelligent R&D Platform Empowering Materials Innovation and Driving Breakthrough Progress in Perovskite Tandem Cell R&D

The Group has established an advanced materials R&D team. During the Reporting Period, the Group entered into a strategic collaboration agreement with a subsidiary of JinkoSolar to advance AI- and automation-driven high-throughput R&D for tandem solar cells. The parties have established a joint venture to build the world's first fully closed-loop intelligent manufacturing line for tandem solar cells, integrating "AI-driven decision-making, robotic execution and data feedback." The project is progressing. The Group has also established an AI- and automated laboratory-driven perovskite formulation R&D platform. Small-area modules achieved a laboratory-tested efficiency of 27.0% and a third-party-certified efficiency of 26.51%, while large-area modules achieved a laboratory-tested efficiency of 23.0% and a third-party-certified efficiency of 22.74%. The high-throughput automated production line for tandem cells is designed for a daily throughput of no fewer than 1,000 cells. Compared with conventional manual R&D, the optimization cycle for each iteration has been reduced from several months to several hours, while the overall R&D cycle has been shortened from four to six years to one to six months.

Consumer Health: Groland Expands Omnichannel Reach and Advances Commercialization

During the Reporting Period, Groland, a combination formulation incorporating two proprietary topical molecules developed by XtalPi to address hair growth and retention, completed market validation and brand development and began building a marketing network spanning domestic and international markets and online and offline channels. The brand operates official stores on Tmall, JD.com and Douyin. Groland's AquaKine Scalp Serum ranked No. 1 on Tmall's "New Anti-Hair Loss Scalp Oil Products" chart, while its Tmall store ranked among the top three emerging personal care stores by gross merchandise value during the 618 Shopping Festival. The brand has established a product portfolio spanning pre-shampoo treatments, shampoos, conditioners, leave-in treatments, hair growth serums and red-light hair growth brushes. The two proprietary molecules have completed regulatory filings as new cosmetic ingredients in China, while the regulatory filings and launch of the general-trade versions are expected to be completed by the end of 2026.

Strategic Upgrade: Evolving XtalPi Science into an Open Scientific AI Infrastructure Platform

In July 2026, the Group launched XtalPi Science, its Scientific AI platform, together with the Genius Agent suite of Scientific Agents. XtalPi Science is the world's first comprehensive AI4S platform integrating large language models (LLMs), Scientific Agents and large-scale automated robotic experimentation. It further standardizes and platformizes the Group's integrated scientific research infrastructure, validated through real-world projects, transforming it into platform capabilities that can be accessed through a unified interface, orchestrated on demand and continuously expanded. In doing so, XtalPi Science is progressively building a Global Scientific Utility for industry partners and research institutions worldwide, providing a unified entry point for cross-institutional R&D collaboration and the scaled application of Scientific AI.

As the core orchestration hub and R&D matrix, Genius Agent can autonomously understand complex research objectives, break down and advance long-horizon interdisciplinary tasks, and centrally orchestrate domain-specific models, specialized tools, R&D workflows and physical execution infrastructure. The platform generates scientific hypotheses and performs specialized predictions in the digital world, followed by experimental validation in the physical world through Physical AI, completing a closed loop spanning "digital hypothesis generation, specialized prediction, physical validation and data feedback."

The Group and 26 partners jointly launched the Open Ecosystem Alliance for Scientific AI, whose members span multiple segments of the scientific innovation value chain. XtalPi Science also plans to introduce Science Token as a unified access and metering mechanism for scientific research resources. Taking into account customer needs and different R&D scenarios, the Group will explore diverse platform service and collaboration models as it continues to evolve into an open Scientific AI infrastructure platform.

About XtalPi

XtalPi Holdings Limited ("XtalPi," HKEX: 2228) was founded in 2015 by physicists from the Massachusetts Institute of Technology (MIT). The company is a technology platform focused on quantum physics-based and AI-driven innovation in drug and materials discovery. By integrating quantum physics, artificial intelligence, cloud computing, and large-scale automation, XtalPi provides research and development solutions and services to global pharmaceutical, materials science, consumer products, energy, and advanced chemicals industries. XtalPi leverages AI Agents, proprietary modeling, and advanced robotics to accelerate scientific discovery through an autonomous paradigm designed to solve the most challenging molecular discovery problems. XtalPi's team currently spans Shenzhen, Shanghai, and Beijing in China, Boston in the United States and Liverpool in the United Kingdom.

HONG KONG, Aug. 19, 2026 /PRNewswire/ -- Sino Biopharmaceutical Limited (HKEX: 01177), a leading innovation-driven pharmaceutical company in China, announced the launch of its new global brand, SBP Group, during its interim results meeting. SBP stands for Science, Breakthroughs and Patients: Science is where the company starts; breakthroughs are what it pursues; patients are why it does what it does. This philosophy aligns with the Company's mission, "Science for a Healthier World."

The unified identity reflects the Company's strategic evolution from a leading domestic biopharmaceutical company into a global innovator. This transformation is advancing on two fronts: product globalization, by building a global pipeline of innovative assets through in-house R&D and acquisition; and business globalization, through global partnerships and direct commercial expansion in key international markets. Supported by continued investment in global talent, organizational capabilities and infrastructure, the Company aims to bring innovative medicines to more patients worldwide.  

"2026 marks the first year of executing our globalization strategy, and we have made strong progress," said Ms. Theresa Tse, Chairwoman of the Board. "SBP Group is committed to working with global partners to accelerate the global development and availability of innovative medicines from China and bring cutting-edge therapies from around the world to China. Leveraging our AI-driven, fully integrated R&D platform, we aim to advance breakthroughs at the frontiers of science, with the ultimate goal of benefiting more patients and improving human health."

To date, the Company has completed four out-licensing transactions with MNCs, with aggregate upfront payments exceeding US$1 billion and a total potential deal value of more than US$7 billion, alongside over 30 M&A, licensing and strategic partnership transaction. 2026 key transactions include (i) the exclusive licensing to Sanofi of rovadicitinib, a first-in-class dual JAK/ROCK inhibitor, in a transaction valued at up to US$1.53 billion; and (ii) the exclusive licensing to AstraZeneca of TQC3721, an inhaled PDE3/4 inhibitor for COPD, in a transaction valued at up to US$1.9 billion.

About SBP Group

Sino Biopharmaceutical Limited (HKEX: 01177), referred to herein as "SBP Group", is a leading innovation-driven pharmaceutical company in China. The Company has end-to-end capabilities across full value chain, including R&D, manufacturing and commercialization. Its product portfolio covers a wide range of biologics and small molecule drugs, with a strong leadership position across four core therapeutic areas: oncology, liver/cardiometabolic diseases, respiratory/autoimmune diseases, and surgery/analgesia.

HONG KONG, Aug. 19, 2026 /PRNewswire/ -- Kuaishou Technology ("Kuaishou" or the "Company"; HKD Counter Stock Code: 01024 / RMB Counter Stock Code: 81024), a leading content community and social platform, today announced its unaudited consolidated results for the three months and six months ended June 30, 2026.

Second Quarter 2026 Key Highlights

• Average DAUs on Kuaishou APP were 412.3 million, representing an increase of 0.8% from 408.9 million for the same period of 2025.
• Average MAUs on Kuaishou APP were 797.3 million, representing an increase of 11.5% from 714.8 million for the same period of 2025.
• Total revenue increased by 1.4% to RMB35.5 billion from RMB35.0 billion for the same period of 2025. Online marketing services and live streaming contributed 58.1% and 24.5%, respectively, to the total revenue. The other 17.4% came from other services.
• Gross profit was RMB18.3 billion, compared to RMB19.5 billion for the same period of 2025. Gross profit margin in the second quarter of 2026 was 51.6%, compared to 55.7% for the same period of 2025.
• Profit for the period was RMB3.2 billion, compared to RMB4.9 billion for the same period of 2025. Adjusted net profit⁽¹⁾ was RMB3.9 billion, compared to RMB5.6 billion for the same period of 2025.
• Operating profit from the domestic segment⁽²⁾ was RMB3.7 billion, compared to RMB5.4 billion for the same period of 2025. Operating loss from the overseas segment⁽²⁾ was RMB25 million, compared to operating profit of RMB19 million for the same period of 2025.

First Half 2026 Key Highlights

• Average DAUs on Kuaishou APP were 412.5 million, representing an increase of 1.0% from 408.5 million for the same period of 2025.
• Average MAUs on Kuaishou APP were 784.5 million, representing an increase of 10.0% from 713.3 million for the same period of 2025.
• Total revenue increased by 2.4% to RMB69.3 billion from RMB67.7 billion for the same period of 2025. Online marketing services and live streaming contributed 58.2% and 24.8%, respectively, to the total revenue. The other 17.0% came from other services.
• Gross profit was RMB35.6 billion, compared to RMB37.3 billion for the same period of 2025. Gross profit margin was 51.4%, compared to 55.1% for the same period of 2025.
• Profit for the period was RMB6.1 billion, compared to RMB8.9 billion for the same period of 2025. Adjusted net profit⁽¹⁾ was RMB7.3 billion, compared to RMB10.2 billion for the same period of 2025.
• Operating profit from the domestic segment⁽²⁾ was RMB6.8 billion, compared to RMB9.7 billion for the same period of 2025. Operating loss from the overseas segment⁽²⁾ was RMB56 million, compared to operating profit of RMB47 million for the same period of 2025.
• During the six months ended June 30, 2026 and up to August 19, 2026, the Company repurchased a total of 43,302,200 shares on the Hong Kong Stock Exchange at an aggregate consideration of HKD1.97 billion.

Mr. Cheng Yixiao, Co-founder, Chairman, and Chief Executive Officer of Kuaishou, commented, "In the second quarter of 2026, we continued to unlock the strategic value of AI and delivered solid financial and operating performance amid a complex macroeconomic environment. We accelerated the integration of AI across our content ecosystem, online marketing, e-commerce and internal organizational enablement, enhancing both user experience and commercial efficiency. During the quarter, the average DAUs on the Kuaishou App reached 412.3 million and total revenues reached RMB35.5 billion. Even as we continued to invest in AI technologies, our adjusted net profit reached RMB3.9 billion, with an adjusted net margin of 11.0%, and our profitability remained at a healthy level, further demonstrating the resilience of our business. On the AI innovation front, we launched the Kling 3.0 Turbo model, reinforcing Kling AI's global leadership in video generation. Meanwhile, commercialization maintained strong growth momentum, with Kling AI generating revenue of over RMB850 million in the second quarter, representing year-over-year growth of more than 200.0%. Looking ahead, we will continue to integrate AI more deeply across our business scenarios. Through continued technological innovation and ecosystem development, we remain dedicated to meeting users' evolving needs and creating sustainable, long-term value for our shareholders."

Second Quarter 2026 Financial Review

Revenue from our online marketing services increased by 4.4% to RMB20.6 billion for the second quarter of 2026, from RMB19.8 billion for the same period of 2025, primarily attributable to the increased online marketing spending, as we offered scenario-based marketing materials generation capabilities tailored to meet the needs across industries and clients.

Revenue from our live streaming business decreased by 13.5% to RMB8.7 billion for the second quarter of 2026, from RMB10.0 billion for the same period of 2025, as a result of our continuous efforts to develop a rich and healthy live streaming ecosystem and diverse high-quality content.

Revenue from our other services increased by 18.5% to RMB6.2 billion for the second quarter of 2026, from RMB5.2 billion for the same period of 2025, primarily due to the growth of our Kling AI business. The growth of Kling AI business was primarily attributable to our advanced AI technology and exceptional product performance.

Other Key Financial Information for the Second Quarter of 2026

Operating profit was RMB3.8 billion, compared to RMB5.3 billion for the same period of 2025.

Adjusted EBITDA⁽³⁾ was RMB7.1 billion, compared to RMB7.7 billion for the same period of 2025.

Total available funds⁽⁴⁾ reached RMB121.3 billion as of June 30, 2026.

Notes:

(1) We define "adjusted net profit" as profit for the period adjusted by share-based compensation expenses and net fair value changes on investments.

(2) Unallocated items, which consist of share-based compensation expenses, other income, and other gains, net, are not included.

(3) We define "adjusted EBITDA" as adjusted net profit for the period adjusted by income tax expenses, depreciation of property and equipment, depreciation of right-of-use assets, amortization of intangible assets, and finance expenses, net.

(4) Total available funds which we considered in cash management included but not limited to cash and cash equivalents, time deposits, financial assets and restricted cash. Financial assets mainly included wealth management products and others.

Business Review

In the second quarter of 2026, amid a complex macroeconomic environment and industry competition, we remained committed to our long-term vision and strategic AI investments, achieving high-quality growth. In the second quarter of 2026, the average DAUs on the Kuaishou App reached 412.3 million. Total revenues increased by 1.4% year-over-year to RMB35.5 billion. Revenues from our core commercial business, including online marketing services and other services, primarily e-commerce and Kling AI (可靈AI), increased by 7.4% year-over-year. Adjusted net profit reached RMB3.9 billion, with an adjusted net margin of 11.0%. Overall profitability remained stable, further demonstrating the resilience of our business operations.

AI business

In the second quarter of 2026, Kling AI continued to advance its vision of "empowering everyone to craft captivating stories with AI". Through breakthroughs in advanced model capabilities, upgrades to professional product features, and the expansion of a globalized creative ecosystem, Kling AI further reinforced its global leadership among multimodal large video generation models.

At the model and product level, Kling AI officially rolled out the native 4K video output feature in the Kling AI 3.0 model series. As the industry's first video generation model supporting native 4K output, this upgrade enables one-click cinema-grade 4K video generation. Designed for professional clients across the film, television and advertising industries, it directly delivers high-resolution visuals without the need for complex post-production, achieving industrial-grade cinematic visual effects. Concurrently, Kling AI released the Kling 3.0 Turbo model, which maintains stable, high-quality dynamic output and precise audio-visual synchronization, while significantly improving creative efficiency and reducing production costs. In addition, Kling MCP (Model Context Protocol) and Kling CLI (Command Line Interface) were officially launched, enabling AI agents to orchestrate Kling AI for batch content creation. These features further expanded Kling AI's applications in workflow automation and intelligent orchestration scenarios.

Kling AI continues to empower professional content creation through its integrated video creation capabilities, with its technological innovations and creative achievements earning broad industry recognition. At the 2026 Cannes Lions International Festival of Creativity (2026戛納國際創意節), two advertising videos generated by Kling AI won one Silver Lion and two Bronze Lion Awards, demonstrating recognition of Kling AI's creative capabilities by one of the world's premier creative awards programs. At the 2026 Beijing International Film Festival (2026北京國際電影節) , multiple works created with Kling AI including Paper Smartphone (紙手機) were nominated for the AIGC Section. Stroke of Genius (神•筆) with Liu Cixin serving as literary supervisor, was recognized as the "Annual Featured Work in Short Play/Micro-Short Play" in the Short Video Section. These achievements fully demonstrate Kling AI's strength in empowering professional filmmaking.

Driven by breakthroughs in model capabilities, continuous product enhancements and deeper penetration across application scenarios, Kling AI's commercialization maintained strong growth momentum. In the second quarter of 2026, Kling AI generated revenue of over RMB850 million, representing year-over-year growth of more than 200.0%, and continued to lead the commercialization of AI video generation globally.

In the second quarter of 2026, we continued to make solid progress in the research and application of our general-purpose large models. We released Keye-VL-2.0-30B-A3B, an upgraded version of our multimodal large model. The model successfully enables deep perception across 256K ultra-long context, while delivering nearly lossless reasoning capabilities for long-video temporal understanding. We introduced AgentX, a self-evolving AI agent for industrial recommendation systems. It enables recommendation systems to autonomously drive recommendation model and strategy design, evaluate performance and accumulate insights, significantly boosting the iteration efficiency of recommendation algorithms.

As part of our large model technology applications, we developed agent capabilities for scenario-based marketing materials generation in online marketing service scenarios. By offering tailored marketing materials generation capabilities to meet the needs across industries and clients, we achieved over 70% year-over-year growth in spending on AIGC short video marketing materials in the second quarter of 2026. We continued to extend our generative recommendation and intelligent bidding large models to a broader range of scenarios, including live streaming, search, and pan-shelf-based e-commerce, improving the effectiveness of marketing content recommendations, and unlocking marketing budgets from our clients. In the second quarter of 2026, in terms of organizational efficiency enhancement and empowerment, Kuaishou's proprietary general-purpose agent product, MyFlicker, has successfully integrated skills across key internal systems and is now widely adopted by our employees. In June 2026, over 92.0% of Kuaishou employees were actively using our in-house AI agent products, with the ratio of AI-generated code hitting 60.0% within our R&D team. Meanwhile, Kuaishou Vanchin (快手萬擎), our enterprise-grade large model service and development platform, integrates high-performance model inference, cost-efficient model customization and fully managed services. Vanchin not only supports Kuaishou's internal AI application scenarios but also provides large model infrastructure services to numerous external enterprise clients.

User and content ecosystem

In the second quarter of 2026, average DAUs on the Kuaishou App reached 412.3 million, and average MAUs reached 797.3 million. In terms of new user acquisition, we leveraged AI-powered smart placement to improve user acquisition efficiency while enhancing overall retention among new and reactivated users. We consistently refined our traffic allocation system to better safeguard the experience of our highly active core users. We continued to refine our social features. The number of users with mutual followers engaging in private messaging increased by more than 15.0% year-over-year in the second quarter of 2026. We also focused on optimizing Kuaishou App's basic features, comprehensively elevating the user experience through systematic improvements to product features, video playback smoothness and intelligent interaction.

We firmly believe in the power of community and continue to enhance the differentiated, high-quality content ecosystem that highlights Kuaishou's community-centric core. During June and July 2026, riding the wave of the World Cup, we launched our native IP the Kuaishou World Cup Fans Trophy (快手鐵力神杯). Beyond covering trending topics and news, we introduced a series of original activities, including the Kuaishou X.Y.Style FC (快手象牙山足球大賽), Dream Chasers Youth Football Tournament (逐夢少年足球賽). Through trending topic operations, engaging interactions, and community-wide content co-creation, we built a new sports hub where every user on Kuaishou platform could participate, engage, and share their passion. During the campaign period, Content related to these events generated 68.2 billion impressions on the Kuaishou App, while livestreams of these initiatives garnered nearly 360 million viewers.

We have deepened our innovative copyright cooperation mechanisms, utilizing a joint-operation model to deliver higher-value content consumption for our users. We leveraged e-commerce live streaming to introduce live broadcasting rights for the 2026 CBA season. Furthermore, we introduced the ticketed live-streaming model to online music performances. In April 2026, we hosted the TOP (TOP登陸少年組合) concert, generating more than RMB10 million in sales from this single event, realizing a synergy between content and commercialization. Furthermore, this model has driven grassroots sports events, establishing a notable regional scale, especially across Northwest China.

Online marketing services

In the second quarter of 2026, revenue from online marketing services reached RMB20.6 billion, representing a year-over-year increase of 4.4%. Our non-e-commerce marketing services continued to expand across the content consumption, lifestyle services and AI application sectors. Empowered by our omni-domain traffic synergy strategy and dedicated programs for brand merchants, our e-commerce marketing services demonstrated resilience. At the same time, by leveraging AI technologies, we further deepened the application of AI across the full online marketing services workflow.

During the second quarter of 2026, the content consumption, lifestyle services and AI application sectors continued to drive year-on-year growth in our non-e-commerce marketing services revenue. In the content consumption sector, AI reduced content production costs and lowered barriers to content creation, driving rapid growth in the supply of short play content, and catering to increasingly diverse user preferences. This further enriched the platform's content ecosystem and boosted related marketing demand. As of June 2026, the supply of short plays on Kuaishou platform, including both live-action and AI-generated short plays, increased by more than fivefold compared with January 2026. In the second quarter of 2026, the total spending from online marketing services driven by short plays increased by more than 100.0% year-over-year. In the lifestyle services sector, we continued to deepen our presence across sub-verticals, such as comprehensive services and local services, while exploring incremental growth opportunities across these areas. Meanwhile, by optimizing deep conversion capabilities, enhancing our full-stack lead-driven marketing solutions, and launching the user exploration AI agent, we enabled our clients to more effectively identify high-intent users, improving lead quality and subsequent conversion efficiency. In the AI application sector, we worked closely with our clients to better align advertising placement and in-app conversion, helping them improve user retention and conversion performance. These efforts further strengthened our competitiveness in capturing advertising spending from AI application clients.

For e-commerce marketing services, in the second quarter of 2026, we strengthened omni-domain traffic synergy across our e-commerce and online marketing businesses to improve the efficiency of matching merchants with relevant traffic. We conducted more granular merchant segmentation and implemented tiered operations, tailoring differentiated product strategies to address merchants' core needs across different segments. Meanwhile, we intervened at the supply level of marketing materials by actively taking governance measures, including incentivizing first-launch content and increasing recommendation diversity. These initiatives effectively optimized the content mix for e-commerce marketing materials, enabling high-quality content to reach target traffic more efficiently, while further optimizing our long-term commercialization ecosystem. Amid continued macro consumption and merchant operational challenges, we remained committed to providing traffic support to high-quality merchants. The T2000 brand initiative (T2000品牌專項) launched in the fourth quarter of 2025 has delivered promising initial results. Marketing spend by T2000 brand merchants outpaced that of our broader e-commerce marketing, and its contribution to online marketing services revenue continued to increase in the second quarter of 2026. At the product level of e-commerce marketing services, our Net Transaction ROI (淨成交ROI) product continued to evolve. By enhancing omni-scenario transaction bidding capabilities and refining bidding mechanisms and model strategies, its client penetration rate increased from 45.0% in the first quarter of 2026 to 55.0% in the second quarter of 2026, effectively helping merchants reduce product return rates.

In the second quarter of 2026, we continued to optimize the applications of AI across industry-specific scenarios, further enhancing clients' marketing placement efficiency and expanding our capacity to attract incremental marketing budgets across industries. In content consumption scenarios, through content understanding, user matching, smart placement and monetization strategy optimization, AI enabled high-quality content to reach potential users more efficiently. In lifestyle service scenarios, AI capabilities were primarily applied across areas including marketing materials generation, digital human live streaming, conversational business operations, user intent identification and deep conversion prediction, helping merchants reduce the costs associated with content creation, marketing placement operations and manual customer service.

E-commerce

In the second quarter of 2026, we further advanced our e-commerce strategy by focusing on three key areas: growing our paying user base, expanding supply, and deepening the integration of e-commerce and commercialization traffic. We prioritized optimizing our merchant ecosystem and merchant mix, strengthening the acquisition and development of brands and new merchants, and fostering greater synergies between e-commerce and e-commerce marketing. During the second quarter of 2026, we focused on increasing the number of high-quality users, while the number of active paying users in our e-commerce business remained largely stable quarter-over-quarter. With users' omni-domain consumption habits continuing to develop, we strengthened our private-domain advantages, meanwhile, by aligning traffic across diverse scenarios, we enabled content-driven product recommendation, shelf-based conversion and store repurchases to increasingly reinforce one another, creating a positive growth cycle. In the second quarter of 2026, we further enhanced cross-scenario synergies and optimized subsidy efficiency, driving balanced development across content-based scenarios and pan-shelf-based scenarios.

On the supply side, in the second quarter of 2026, we continued to onboard new merchants and advance brand expansion. Through initiatives focused on cost reduction, efficiency improvement, growth incentives, product empowerment and operational support, we consistently supported the growth of new merchants and small and medium-sized merchants, further improving our merchant ecosystem and mix. We launched an upgraded version of our Starlight Initiative (星耀計劃), offering tiered support programs for different merchant segments, including brand merchants, large merchants, industrial zone merchants, and small and medium-sized merchants, to help more merchants scale their businesses more rapidly. Supported by these initiatives, the number of newly onboarded merchants increased year-over-year and rose nearly 10.0% quarter-over-quarter in the second quarter of 2026. The number of new merchants achieving scaled growth in their second month after onboarding increased by nearly 30.0% year-over-year, reflecting continued improvements in the quality of growth among new merchants. On the brand merchant side, self-operated GMV from T2000 brands maintained strong year-over-year growth with contribution to overall GMV increased steadily. Meanwhile, marketing spend from brand merchants grew rapidly year-over-year, further enhancing their contribution to both overall e-commerce GMV and online marketing revenue.

In the second quarter of 2026, we continued to improve our KOL ecosystem and structure, enhancing the quality of supply across content-based scenarios. We deepened our collaborations with top-tier KOLs, increased support for mid-tier KOLs in verticals where Kuaishou has competitive advantages, such as Three Rural (三農) and anime, and improved the consistency of existing KOLs' performance, reinforcing our e-commerce content fundamentals. By integrating our outstanding KOL resources with distinctive product offerings nationwide, we deepened our penetration in industrial zones across China and launched differentiated content marketing initiatives, including product origins tracing livestreaming. These efforts strengthened the synergy between content and supply, empowered KOLs and improved merchants' conversion efficiency. Meanwhile, we continued to expand our KOL base through multiple channels, including in-platform incubation, partnerships with talent agencies and external recruitment. To boost KOL streaming frequency, we continuously refined our incentive policies. In the second quarter of 2026, the number of streamers hosting live sessions with over 10,000 followers increased year-over-year, while KOL streaming frequency continued to increase steadily. Regarding distribution pool development, we leveraged AI technologies to enhance our underlying product capabilities, creating a more targeted distribution pool system, further fostering the vibrancy of our distribution ecosystem. In the second quarter of 2026, the penetration of active KOLs participating in distribution continued to increase year-over-year, and the number of merchant-KOL matches in the distribution pool increased by over 20.0% year-over-year.

In the second quarter of 2026, we continued to optimize AI capabilities across our e-commerce scenarios throughout the full lifecycle of merchants, enabling merchants to reduce costs, improve efficiency and adopt intelligent business operations. These initiatives validated the feasibility of AI evolving from a productivity-enhancing tool into a comprehensive solution supporting business execution. In the first half of 2026, more than 850,000 merchants utilized our free AI-powered business operation tools across a wide range of scenarios, including product selection and listing, marketing materials generation, business analysis, smart placement and AI-powered customer service. These AI tools provided merchants with end-to-end operational support and capability enhancements.

Live streaming

In the second quarter of 2026, live streaming revenue reached RMB8.7 billion. We focused on the healthy development of our supply ecosystem and leveraged AI to empower live-streaming products, continuously driving ecosystem quality enhancements and product innovation. On the supply side, we launched the Confluence Initiative (百川計劃), through which we provided streamer acquisition incentives, early-stage growth support, and healthy ecosystem governance, to steadily expand the supply of new streamers from talent agencies, and further improve streamers' efficiency in gaining initial traction. Meanwhile, we strengthened independent streamer operations, focusing on identifying and nurturing high-value independent streamers, thereby solidifying our live streaming supply foundation through refined operations. Moreover, we encouraged top-tier streamers to expand into group live-streaming content formats, leveraging their traffic and influence to enrich the supply of high-quality live-streaming content.

On the product and technology front, AI capabilities further empowered live-streaming rooms. Powered by Kling AI's video generation capabilities, AI gifts with customizable special effects continued to evolve, offering a wider variety of gift formats and generation capabilities and further enhancing users' willingness to pay. In the second quarter of 2026, AI gifts sent by users surpassed 6 million in total. AI-driven content understanding capabilities continued to optimize our live streaming recommendation strategies, enabling more precise matching between streamers and users and supporting the expansion of our paying user base. In addition, intelligent live-streaming gift recommendation and ranking features based on real-time multimodal signals effectively improved users' payment experience and efficiency. AI tools such as AI Interaction Assistants (AI互動助手) and Digital Avatars Solution (數字分身服務) were further refined and upgraded, continuously improving streamers' service efficiency.

Overseas

In the second quarter of 2026, we remained committed to our high-value growth strategy, further strengthening the foundation of our overseas business in profitability, long-term operational capabilities and localized efforts. In traffic growth and the content ecosystem, we stayed focused on refined user acquisition. We enhanced our content offerings with distinctive local characteristics and expanded community-based creator networks, fostering an engaging community atmosphere around real-life scenarios and further deepening content consumption among core users. For online marketing services, leveraging major events such as Festa Junina and the World Cup, we empowered our marketing clients to achieve rapid growth during critical windows through AI-driven initiatives, including in-depth ROI analysis, user insights, innovative product features, and industry-specific strategies. Moreover, we further unlocked the monetization potential of short plays and other diversified content formats, forming a dual-engine growth model together with our marketing service product capabilities, while accelerating expansion into growth sectors such as e-commerce. Regarding overseas e-commerce, we continued to deliver solid year-over-year growth in GMV and order volume in the second quarter of 2026. At the same time, we drove growth in average order value through product mix optimization and high-quality supply, while maintaining solid operational efficiency and profit-generating ability.

Corporate social responsibility

Kuaishou remains firmly committed to its mission of "connecting good faith with technology and creating long-term values", continuously driving the deep integration of technological innovation and industrial development to foster high-quality employment. According to the 2025 Kuaishou Corporate Social Responsibility Report published on June 2, 2026, by the end of 2025, the Kuaishou platform had cumulatively created 48.6 million job opportunities and spawned 189 new professions in total. Among these, 15 new roles were directly generated by the advancement of AI, covering fields such as AIGC application specialists, prompt engineers, AI directors, and AI trainers.

Business Outlook

In the first half of 2026, we maintained our strategic focus on AI and continued to increase our investment, delivering high-quality, resilient growth across our content and business ecosystems. Looking ahead to the second half of 2026, the Group reaffirms its strategic direction of deepening AI investment and pursuing long-term sustainable development through advanced technology and a distinctive ecosystem. However, we are cautious about the short-term business outlook as the operating environment has become increasingly complex and challenging. We will continue to adopt a prudent and disciplined approach. We will continue to deepen AI integration across these ecosystems by advancing the capabilities of our large models across multiple scenarios, helping merchants and marketing clients operate more efficiently. We will also continue to scale Kling AI's model capabilities and expand its adoption across professional creative scenarios, unlocking additional commercialization opportunities. We remain dedicated to meeting users' evolving needs and creating sustainable, long-term value for Shareholders.

About Kuaishou

Kuaishou is a leading content community and social platform in China and globally, committed to becoming the most customer-obsessed company in the world. Kuaishou uses its technological backbone, powered by cutting-edge AI technology, to continuously drive innovation and product enhancements that enrich its service offerings and application scenarios, creating exceptional customer value. Through short videos and live streams on Kuaishou's platform, users can share their lives, discover goods and services they need and showcase their talent. By partnering closely with content creators and businesses, Kuaishou provides technologies, products, and services that cater to diverse user needs across a broad spectrum of entertainment, online marketing services, e-commerce, local services, gaming, and much more.

Forward-Looking Statements

Certain statements included in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "might", "can", "could", "will", "would", "anticipate", "believe", "continue", "estimate", "expect", "forecast", "intend", "plan", "seek", or "timetable". These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include our business outlook, estimates of financial performance, forecast business plans, growth strategies and projections of anticipated trends in our industry. These forward-looking statements are based on information currently available to the Group and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, many of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realized in the future. Underlying these forward-looking statements are a large number of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as representations by the Board or the Company that the plans and objectives will be achieved, and investors should not place undue reliance on such statements. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this press release or those that might reflect the occurrence of unanticipated events.

For investor and media inquiries, please contact

Kuaishou Technology
Investor Relations
Email: [email protected]