Shanghai Junshi Biosciences : OVERSEAS REGULATORY ANNOUNCEMENT

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SHANGHAI JUNSHI BIOSCIENCES CO., LTD.*

上海君實生物醫藥科技股份有限公司

(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock code: 1877)

OVERSEAS REGULATORY ANNOUNCEMENT

This announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

Reference is made to "Shanghai Junshi Biosciences Co., Ltd.*: Announcement on Resolutions of the Eighteenth Meeting of the Second Session of the Board of Directors" dated 13 December 2019 published by Shanghai Junshi Biosciences Co., Ltd.* on the website of the National Equities Exchange and Quotations. The following is a translation of the official announcement solely for the purpose of providing information. Should there be any discrepancies, the Chinese version will prevail.

By Order of the Board

Shanghai Junshi Biosciences Co., Ltd.*

Mr. Xiong Jun

Chairman

Shanghai, the PRC, 13 December 2019

As at the date of this announcement, the board of directors of the Company comprises Mr. Xiong Jun, Dr. Li Ning, Dr. Feng Hui, Mr. Zhang Zhuobing, Dr. Wu Hai and Dr. Yao Sheng as executive directors; Mr. Tang Yi, Mr. Li Cong, Mr. Yi Qingqing and Mr. Lin Lijun as non-executive directors; and Dr. Chen Lieping, Dr. He Jia, Mr. Chen Xinjun, Mr. Qian Zhi and Dr. Roy Steven Herbst as independent non-executive directors.

• For identification purpose only

Announcement No.: 2019-164

Stock Code: 833330

Stock Short Name: Junshi Bio-B Chief Agency Broker: CICC

Shanghai Junshi Biosciences Co., Ltd.*

Announcement on the Resolutions of the Eighteenth Meeting of

the Second Session of the Board of Directors

The Company and all members of the board of directors warrant that the contents of the announcement are true, accurate and complete and that there is no false and misleading statement or material omission herein, and are severally and jointly responsible for the truthfulness, accuracy and completeness of the contents herein.

1. Convening and Attendance of the Meeting
2. 1. Convening of the Meeting

1. Date of the meeting: 12 December 2019
2. Venue of the meeting: The Company's conference room
3. Mode of the meeting: A combination of on-site and online meeting
4. Time and method of dispatching board meeting notice: 11 December 2019, by post
5. Chairperson of the meeting: Mr. Xiong Jun, the Chairman of the board of directors
6. Compliance statement of the convening of the meeting:

It is unanimously agreed by all directors to waive the requirement on the prior notice period of the board meeting. The procedures for convening and holding of the meeting, and consideration of the resolution of the meeting complied with the laws and regulations such as the Company Law of the People's Republic of China and relevant requirements under the Articles of Association of Shanghai Junshi Biosciences Co., Ltd.*, and the resolution made therein was legally valid.

(II) Attendance of the Meeting

15 directors were eligible for attending the meeting, and 15 directors attended the meeting in person or by proxy.

Announcement No.: 2019-164

1. Consideration of the Resolution

1. Resolution on the Ratification of Related Party Transaction in 2018 was considered and approved
   1. Details of the resolution:
   According to the relevant requirements under the China Accounting Standards for Business Enterprises No. 36－Related Party Disclosures, Articles of Association and

Regulations on the Management of Related Party Transactions and on a prudent basis, Shanghai Junshi Biosciences Co., Ltd.* (hereinafter the "Company") intends to ratify the money received from and returned to Beijing Baiyining Medical Technology Co., Ltd.* (北京百益寧醫學科技有限責任公司) (hereinafter "Baiyining") as a related party transaction, specific details of which are as follows:

On 18 October 2018, the Company received RMB10 million from Baiyining, and refunded such amount on 6 November 2018 without actually utilizing it.

Given the fact that Xiong Jun, a controller of the Company, had been a controller and served as an executive director of Baiyining in the 12 months prior to the abovementioned money receipt and return, the Company intends to ratify the above money receipt and return as a related party transaction after prudent judgment. As of now, Baiyining is no longer a related party of the Company.

The abovementioned money receipt and return will not prejudice the interests of the Company and its shareholders.

1. Voting results: for: 14; against: 0; abstain: 0.
2. Abstaining from voting:

Xiong Jun, a related director, abstained from voting.

4. Submission to the general meeting:

This resolution is subject to submission to the first extraordinary general meeting in

2020 of the Company for consideration and approval.

Announcement No.: 2019-164

1. Resolution on the Correction of the 2018 Annual Report was considered and approved
   1. Details of the resolution:
   The Resolution on the 2018 Annual Report (Corrected) was considered and approved at the Fifteenth Meeting of the Second Session of the Board of Directors and at the Thirteenth Meeting of the Second Session of the Board of Supervisors. For details, please refer to the 2018 Annual Report of Shanghai Junshi Biosciences Co., Ltd.* (Corrected) (Announcement No.: 2019-133) disclosed by the Company on 25 September 2019 on the information disclosure platform designated by the National Equities Exchange and Quotations. As the Company intends to ratify the money received from and returned to Baiyining in 2018 as a related party transaction, the Company intends to correct relevant content in the 2018 Annual Report of Shanghai Junshi Biosciences Co., Ltd.* (Corrected) in order for the Company to reflect the abovementioned money receipt and return in a more truthful, accurate and complete manner in the 2018 Annual Report of Shanghai Junshi Biosciences Co., Ltd.* (Corrected).
   2. Voting results：for: 15；against: 0；abstain: 0.
   3. Abstaining from voting：

No director abstained from voting on this resolution.

4. Submission to the general meeting:

This resolution does not need to be submitted to the general meeting for consideration and approval.

1. Resolution on the 2018 Annual Report (Corrected) was considered and approved
   1. Details of the resolution:
   The Resolution on the 2018 Annual Report (Corrected) was considered and approved at the Fifteenth Meeting of the Second Session of the Board of Directors and at the Thirteenth Meeting of the Second Session of the Board of Supervisors. For details, please refer to the 2018 Annual Report of Shanghai Junshi Biosciences Co., Ltd.* (Corrected) (Announcement No.: 2019-133) disclosed by the Company on 25 September 2019 on the information disclosure platform designated by the National Equities Exchange and Quotations. As the Company intends to ratify the money received from

Announcement No.: 2019-164

and returned to Baiyining in 2018 as a related party transaction, the Company intends to correct relevant content in the 2018 Annual Report of Shanghai Junshi Biosciences Co., Ltd.* (Corrected) in order for the Company to reflect the abovementioned money receipt and return in a more truthful, accurate and complete manner in the 2018 Annual Report of Shanghai Junshi Biosciences Co., Ltd.* (Corrected).

1. Voting results：for: 15；against: 0；abstain: 0.
2. Abstaining from voting：

No director abstained from voting on this resolution.

4. Submission to the general meeting:

This resolution does not need to be submitted to the general meeting for consideration and approval.

(IV) Resolution on the Correction of Accounting Errors of the Company in the Previous Period was considered and approved

1. Details of the resolution:

According to the China Accounting Standards for Business Enterprises No. 28 - Changes in Accounting Policies and Accounting Estimates and Corrections of Errors and the relevant requirements of the National Equities Exchange and Quotations, the Company found accounting errors through reorganizing the financial reports for 2016, 2017, 2018 and January to June 2019 and checking the relevant accounting treatment, and made adjustments. RSM China (容誠會計師事務所(特殊普通合夥)) issued the Special Explanation on the Correction of Accounting Errors of Shanghai Junshi Biosciences Co., Ltd.* (Kuai Zhuan Zi [2019] No. 8385), reviewed and confirmed the accounting errors existed and the accounting treatment adjustment by the Company. For details, please refer to the Special Explanation on the Correction of Accounting Errors of Shanghai Junshi Biosciences Co., Ltd.*.

1. Voting results: for: 15; against: 0; abstain: 0.
2. Abstaining from voting:

No director abstained from voting on this resolution.

4. Submission to the general meeting:

This resolution does not need to be submitted to the general meeting for consideration and approval.

Announcement No.: 2019-164

1. Resolution on the Adjustment to Certain Resolutions at the First Extraordinary General Meeting in 2020 of the Company and Adjourned Meeting was considered and approved
   1. Details of the resolution:
   For details, please refer to the Announcement of Shanghai Junshi Biosciences Co., Ltd.* in relation to the Adjustment to Certain Resolutions at the First Extraordinary General Meeting in 2020 and Adjourned Meeting (Announcement No.: 2019-171) disclosed by the Company on 13 December 2019 on the information disclosure platform designated by the National Equities Exchange and Quotations.
   2. Voting results: for: 15; against: 0; abstain: 0.
   3. Abstaining from voting:
   No director abstained from voting on this resolution.
   4. Submission to the general meeting:
   This resolution does not need to be submitted to the general meeting for consideration and approval.
   III. Documents Available for Inspection

1. Resolutions of the Eighteenth Meeting of the Second Session of the Board of Directors of Shanghai Junshi Biosciences Co., Ltd.*

Shanghai Junshi Biosciences Co., Ltd.*

Board of Directors

13 December 2019