Shanghai MicroH Therapeutics, LLC received the approval from US FDA (i.e. U.S. Food and Drug Administration) for the clinical trial of LBP-ShC4. MicroH Therapeutics intends to commence the Phase I clinical trial of L BP-ShC4 when the conditions are fulfilled. Research Progress of LBP-ShC 4. LBP-ShC4 is a live biotherapeutic product independently developed by the Group (i.e., the Company and its subsidiaries/units, the same applies below), and is intended to be used for the treatment of androgenetic alopecia (AGA).

As of April 2025, the Group had invested approximately RMB 17 million (unaudited) in total in the research and development (the R&D) of LBP-ShC four at current stage. As of the date of this announcement (i.e. 9 May 2025), no live biotherapeutic product (including monotherapy or combination therapy) has been approved for the treatment of androgenetics (AGA) worldwide. Risk Reminder.

As required by the relevant laws and regulations in the United States, LBP-ShC4 are subject to undergo a series of clinical studies and approval by the relevant drug review department in the United States before it can be launched. There are certain risks in the R&D of drugs based on experience. For example, clinical trials may be terminated due to issues such as safety and/or efficacy.

The R&D and launch of drugs is a long-term task involving various uncertainties. Investors should take note of the investment risks.