On December 18, 2020, the Hua Medicine announced topline results from DAWN (also known as HMM0302), the second Phase III trial with dorzagliatin (the "DAWN Trial"). Together with SEED (also known as HMM0301), the first Phase III trial with dorzagliatin (the "SEED Trial"), the topline results of which were announced by the Company in June 2020, the Company has completed two Phase III 53-week registration trials of dorzagliatin (52-week period on treatment plus one-week follow-up) in over 1,200 Chinese patients in the midst of the COVID-19 global pandemic with high quality data and results. Dorzagliatin is an oral first-in-class, dual-acting glucokinase activator, with a novel mechanism of action designed to control the progressive, degenerative nature of diabetes by restoring glucose homeostasis in patients with Type 2 diabetes ("T2D"). The key topline highlights of the DAWN Trial are as follows: Trial results demonstrate that dorzagliatin is safe and well tolerated at both the 24-week and52-week periods of the DAWN Trial, conducted in Chinese T2D patients who had failed glycemic control with maximum daily dose of metformin (1,500mg/day). Trial results demonstrate that dorzagliatin is safe and well tolerated at both the 24-week and 52-week periods of the DAWN Trial, conducted in Chinese T2D patients who had failed glycemic control with maximum daily dose of metformin (1,500mg/day). Unlike many other oral antidiabetic drugs, dorzagliatin does not increase hypoglycemia incidence rate when used in combination with metformin: overall hypoglycemia incidence (blood glucose level <3 mmol/L) rate during the 52-week period for the DAWN Trial was less than 1%. At the end of the 24-week period, the primary efficacy endpoint for the dorzagliatin-treated group was 1.02% HbA1c reduction, together with excellent 5.45 mmol/L reduction of post-meal glucose (2h-PPG) from baseline, with both figures statistically significant over the placebo group with p-value less than 0.0001. HbA1c reduction is potent, fast acting and sustained in the 24-week and 52-week period for patients treated with dorzagliatin. Similar to observations made in the SEED Trial, conducted with drug-naïve T2D patients who had average disease history of one year, a significant increase in HOMA2- and reduction in HOMA2-IR over placebo were observed in the DAWN Trial, suggesting a consistent improvement of -cell function and reduction in insulin resistance in T2D diabetes patients with an average disease history of almost six years and who had failed glycemic control while on the maximum daily dose of metformin (1,500mg/day). This is the first incidence of a China-based biotechnology company introducing a global first-in-class oral therapeutic ­ a glucose sensitizer, with a novel mechanism of action that targets the underlying cause of Type 2 diabetes, e.g., insulin resistance and -cell function.