/Shiyao Jingfeng: 2026 Semi-annual Report

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Shiyao Jingfeng: 2026 Semi-annual Report

Shenzhen Stock Exchange

2026/08/21

CSPC Hunan Jingfeng Pharmaceutical Co., Ltd. 2026 Semi-Annual Report Full Text CSPC Hunan Jingfeng Pharmaceutical Co., Ltd. 2026 Semi-Annual Report

August 2026

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Section 1 Important Tips, Table of Contents and Definitions

The company's board of directors, directors and senior managers guarantee that the contents of the semi-annual report are true, accurate and complete, and that there are no false records, misleading statements or major omissions, and bear individual and joint legal liability.

The person in charge of the company, Zhang Yiwei, the person in charge of accounting work, Ma Xuehong, and the person in charge of the accounting department (accounting officer) Tang Yan declare that they guarantee the authenticity, accuracy and completeness of the financial report in this semi-annual report. All directors have attended the board meeting to review this semi-annual report.

The company has analyzed the risks and countermeasures that the company may face in its future operations in Section 3 "Management Discussion and Analysis" of this report. Investors are kindly requested to read it.

The company plans not to distribute cash dividends, give away bonus shares, or convert public reserve funds into share capital.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

1. Company Profile

Stock abbreviation: ST Jingfeng Stock code 000908 Stock abbreviation before change (if any) *ST Jingfeng, ST Jingfeng, Jingfeng Pharmaceutical

Stock exchange where stocks are listed Shenzhen Stock Exchange

The Chinese name of the company: CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

The company’s Chinese abbreviation (if any) Shiyao Jingfeng

The company’s foreign name (if any) CSPC Hunan Jingfeng Pharmaceutical Co., Ltd. The company’s foreign name abbreviation (if any) CSPC Jingfeng

The legal representative of the company Zhang Yiwei

2. Contact person and contact information

Secretary of the Board of Directors Name of securities affairs representative Guo Ce Chen Min Contact address No. 661 Taolin Road, Shuanggang Community, Zhangmuqiao Street, Changde Economic and Technological Development Zone, Hunan Province (Shuangchuang Building) Tel: 0736-7320908

Fax 0736-7320908

Email [email protected]

3. Other situations

Company contact information

Whether the company's registered address, company office address and its postal code, company website, e-mail address, etc. have changed during the reporting period □Applicable Not applicable

The company's registered address, company office address and its postal code, company website, email address, etc. did not change during the reporting period. For details, please refer to the 2025 annual report.

Information disclosure and preparation location

Whether the location of information disclosure and preparation changes during the reporting period

□Applicable Not applicable

The name and URL of the stock exchange website and media where the company discloses its semi-annual report. The company's semi-annual report preparation location did not change during the reporting period. For details, please refer to the 2025 annual report.

Other relevant information

Whether other relevant information has changed during the reporting period

□Applicable Not applicable

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

4. Main accounting data and financial indicators

Whether the company needs to retroactively adjust or restate previous years’ accounting data

□Yes No

This reporting period The same period last year This reporting period increased or decreased operating income compared with the same period last year (yuan) 202,394,681.30 183,387,863.53 10.36% Net profit attributable to shareholders of listed companies

5,868,878.59 -32,567,439.43 118.02% profit (yuan)

Deductions attributable to shareholders of listed companies

Net profit from non-recurring gains and losses -6,875,837.57 -29,812,673.11 76.94% (yuan)

Net cash flow from operating activities

-125,168,361.24 -1,673,405.84 -7,379.86% amount (yuan)

Basic earnings per share (yuan/share) 0.0042 -0.037 111.35% Diluted earnings per share (yuan/share) 0.0042 -0.037 111.35% Weighted average return on equity 0.56% -49.70% 50.26%

End of the reporting period End of the previous year Total assets increased or decreased at the end of the reporting period compared with the end of the previous year (yuan) 2,436,260,904.50 819,950,393.71 197.12% Net assets attributable to shareholders of listed companies

2,089,486,587.25 23,143,211.01 8,928.51% output (yuan)

5. Differences in accounting data under domestic and foreign accounting standards

Differences in net profit and net assets in financial reports disclosed in accordance with both international accounting standards and Chinese accounting standards

□Applicable Not applicable

During the reporting period, there was no difference between the net profit and net assets in the financial reports disclosed in accordance with international accounting standards and Chinese accounting standards.

Differences in net profit and net assets in financial reports disclosed in accordance with both foreign accounting standards and Chinese accounting standards

□Applicable Not applicable

During the reporting period, there was no difference between the net profit and net assets in the financial reports disclosed in accordance with foreign accounting standards and Chinese accounting standards.

6. Non-recurring profit and loss items and amounts

Applicable □Not applicable

Unit: Yuan

Item Amount Description

Gains and losses from disposal of non-current assets (including write-offs for which asset impairment provisions have been made)

107,565.01 Mainly due to gains and losses from asset disposal

points)

Government subsidies included in current profits and losses (closely related to the company’s normal business operations,

Complying with national policies and regulations, enjoying according to determined standards, causing 5,286,350.21 to the company's profits and losses, mainly government subsidies

Except for government subsidies with lasting impact)

In addition to effective hedging business related to the company's normal operating business, non-financial

Gains and losses from changes in fair value of financial assets and financial liabilities held by the enterprise and 6,221,191.78 are mainly gains and losses from the disposal of financial assets and financial liabilities with proceeds from the redemption of bank structured deposits

Gains and losses from debt restructuring 19,703,773.38 Mainly due to restructuring gains

Enterprise restructuring expenses -19,686,078.20 Mainly due to restructuring expenses

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Other non-operating income and expenses other than the above items 612,738.40 Less: Income tax impact -579,992.13

Amount of impact on minority shareholders’ equity (after tax) 80,816.55 Total 12,744,716.16 Details of other profit and loss items that meet the definition of non-recurring profits and losses:

□Applicable Not applicable

The company has no other specific circumstances of profit and loss items that meet the definition of non-recurring profits and losses.

Explanation on defining the non-recurring profit and loss items listed in the "Explanatory Announcement No. 1 on Information Disclosure of Companies that Offer Securities to the Public - Non-recurring Profit and Loss" as recurring profit and loss items

□Applicable Not applicable

The company does not define the non-recurring profit and loss items listed in the "Explanatory Announcement No. 1 on Information Disclosure of Companies that Offer Securities to the Public - Non-recurring Profit and Loss" as recurring profit and loss items.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Section 3 Management Discussion and Analysis

1. The main business of the company during the reporting period

(1) Main business

According to the China Securities Regulatory Commission's "Guidelines for Industry Classification of Listed Companies", the company's industry is pharmaceutical manufacturing (C27).

According to data from the National Bureau of Statistics, from January to June 2026, the pharmaceutical manufacturing industry above designated size achieved operating income of approximately 1.17 trillion yuan, basically the same year-on-year; total profits were approximately 177.3 billion yuan, a year-on-year increase of approximately 4.2%. In the first half of 2026, the pharmaceutical industry is in a stage of structural adjustment. The industry is transforming towards innovation and high-quality development. Affected by factors such as medical insurance fee control, normalization of centralized procurement, and intensified market competition, the overall performance of the industry has been differentiated.

The company's existing product pipeline is mainly distributed in the fields of cardiovascular and cerebrovascular diseases, orthopedic pain diseases, tumor diseases, digestive system and anti-infection fields, women and children and other fields. In the first half of 2026, the field of cardiovascular and cerebrovascular diseases has shown a rapid development trend of "precision, intelligence, and minimally invasive" in terms of clinical diagnosis and treatment, technological innovation, industry market, and disease prevention and control. Domestic high-end consumables in the field of orthopedic pain diseases are gradually replacing imports, and the aging population and high incidence of sports injuries continue to expand clinical demand. In the field of tumor diseases: the new version of the "Guiding Principles for the Clinical Application of New Anti-tumor Drugs" has been implemented, standardizing the use standards of targeted drugs and immunological drugs, promoting the popularization of multidisciplinary diagnosis and treatment (MDT), and improving the standardization and accessibility of overall diagnosis and treatment. In the field of digestive system and anti-infection: the multi-provincial alliance’s special centralized procurement of digestive specialty drugs has been fully implemented to promote the popularization of standardized diagnosis and treatment of chronic digestive diseases at the grassroots level; affected by the “antibiotic restriction” policy and rational drug use supervision, the traditional broad-spectrum antibiotic market is under pressure, but mid-to-high-end injections, severe anti-infective drugs and innovative drugs with high clinical value remain relatively stable. In the field of women and children: Children's health management and women's "two cancer" screening and other livelihood projects have been widely popularized, and the integration of medical and prevention has been further deepened; the "Expert Consensus on the Full Management of Children's Fever (2026 Edition)" has been released, effectively standardizing clinical diagnosis and treatment behaviors and improving the overall medical quality.

(2) Industry situation

There were no major changes in the company's main business during the reporting period.

The company's business scope is: investment in medicine and medical projects with its own assets; R&D and investment in biopharmaceutical technology projects; commodity import and export trade; business management consulting, and medical and pharmaceutical research and development technology consulting (projects that require approval according to law can only be carried out with approval from relevant departments).

Main products

The company's product pipeline includes:

Product lines in the cardiovascular and cerebrovascular fields: including Xinnaoning Capsules (national exclusive, National Medical Insurance Category B), tirofiban hydrochloride concentrated solution for injection, tirofiban hydrochloride sodium chloride injection, Shenxiong glucose injection, diltiazem hydrochloride for injection and Lemai Pills, etc.;

Anti-tumor product line: including pemetrexed disodium for injection, gemcitabine hydrochloride for injection, irinotecan hydrochloride for injection, fludarabine phosphate for injection, oxaliplatin and letrozole tablets for injection, etc.;

Product lines in the field of rheumatism and osteopathy: including sodium hyaluronate injection (containing sodium hyaluronate API), analgesic Huoluo Tincture (national exclusive, National Medical Insurance Category B), Tongdi Capsules (national exclusive) and Gujin Pill Capsules, etc.;

Product lines in the field of women and children: including Fuping Capsules (national exclusive), Jinji Pills (national exclusive), children's Huichun Granules, etc.;

Product lines in the digestive system field: include pantoprazole sodium for injection, omeprazole sodium for injection, lansoprazole for injection, Compound Dantong Capsules (National Medical Insurance Category B) and Xiaoyan Lichen Capsules (basic medicine, National Medical Insurance Category A), etc.;

Product line in the field of burns and scalds: Bingzhi pain aerosol (national exclusive);

Product lines in the anti-infectious field: clindamycin phosphate hydrochloride for injection, vidarabine monophosphate for injection, ganciclovir for injection, Compound Salsaxazole Aerosol (national exclusive) and voriconazole tablets, etc.;

Medical device product line: medical sodium hyaluronate gel;

Anti-inflammatory and analgesic product line: Flurbiprofen axetil injection.

Business model

(1) Procurement model

The company has set up a procurement center under the management structure of the operation management center to assume the company-wide procurement coordination and management functions. It is also responsible for the procurement of raw and auxiliary materials, packaging materials and daily non-production materials required by all subsidiaries. At the same time, it simultaneously carries out the development, screening, management, evaluation and other full-process work of suppliers to achieve centralized integration and unified control of procurement resources. The procurement center has a commercial bidding department, which is responsible for all types of materials and services such as the company's production, quality, engineering, equipment, administration, and services.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

and engineering expenditures, conduct bidding organization and pricing management, strictly review the rationality of bidding prices and the standardization of the bidding process, achieve comprehensive coverage and full-process control of the company's various expenditures, and strictly control various cost elements. The core goal is to effectively prevent management risks and continuously reduce procurement costs.

The Procurement Center takes risk control as its core management concept, strictly implements comprehensive and full-cycle procurement management standards, and implements refined and standardized management of the entire procurement business chain from the three core dimensions of quality assurance, risk prevention and control, and cost control. Combining the attribute differences, usage differences and procurement characteristics of various products and materials, the procurement center customizes differentiated and adaptable daily operation management plans. Through scientific formulation of procurement plans, efficient procurement execution, and strict control of process nodes, the three-dimensional management goals of "low risk, low cost, and high quality" of the procurement business are steadily achieved. In order to ensure standardized, efficient and low-cost procurement work, the Procurement Center has established a multi-dimensional security system to consolidate procurement management work in all aspects.

(2) Production mode

The company's production implements the planning management model of "producing based on sales", strictly implements the internal planning and operation management workflow, and uses the internal orders and delivery times determined by the marketing system as the core basis to coordinate and organize the production of various products to ensure accurate matching between production and market demand, and to avoid waste of production capacity and inventory backlog. The production plan implements hierarchical control. The production department formulates an annual production master plan based on the annual sales plan and scientifically breaks it down into each month to form monthly production guidance targets. In the actual monthly production arrangement, the marketing department issues monthly sales requirements. The production department comprehensively refers to the monthly sales plan, current inventory data, annual production plan requirements and production equipment operating conditions to formulate a detailed monthly production operation plan, clarifying production batches, output, and release time. If there are changes during the execution of the production operation plan that month, it must be reported for approval according to company procedures. Only after approval can the plan be appropriately adjusted to ensure the seriousness and flexibility of the plan.

The production process strictly follows GMP (Good Manufacturing Practice) requirements, and has established a complete and strict production management system to ensure product quality and safety through full-cycle, all-factor production quality system management. At the same time, a contamination control strategy (CCS) has been specially established for sterile preparations to prevent contamination risks from the source; in the management of production operation processes, the company implements refined management and control of the entire production process: dynamic and real-time monitoring of the production environment and personnel operations, and continuous improvement of the production environment, product quality, and operating specifications; production records are filled in in real time according to the operating steps, and at the same time Step-by-step review is carried out to ensure that the records are true, accurate and complete; assessment standards are formulated for various key quality indicators in the production process, and real-time collection and analysis are carried out to promptly discover and deal with abnormalities in the production process; strict quality inspection standards and receipt and transfer specifications are formulated for production materials and intermediate products to ensure that material quality meets production requirements. In addition, the company has formulated a complete personnel training plan and regularly carries out personnel skills training to ensure that the professional capabilities of personnel continue to improve and meet the requirements of production quality assurance. It has established maintenance plans and calibration management systems for production equipment, and gradually automated and upgraded inefficient production lines to ensure the stable operation of various production equipment and the improvement of production efficiency. In addition, the company has conducted a comprehensive risk assessment for each link of the production process, and strictly formulated corresponding control measures for the assessed risk points to effectively reduce quality risks and safety risks in the production process.

The company's production always takes quality as the core, ensuring that the entire production process is strictly implemented in accordance with GMP specifications, the company's product production process regulations and standard production operating procedures, ensuring stable, uniform and qualified product quality, and providing high-quality pharmaceutical products to the public. At the same time, adhering to the concept of continuous optimization, we continue to promote the optimization of production management, continuously improve production efficiency, and further enhance the market competitiveness of our products on the basis of meeting the incremental demand for market products.

(3) Sales model

Strictly implement the company's development strategy, strengthen product matrix management, focus on superior products, and enhance product portfolio advantages. The company further optimizes resource management, activates the vitality of the industrial chain, reshapes cost and brand advantages, and improves market confidence. In terms of sales model, the company combines market development, optimizes and upgrades the existing model, and implements a diversified mixed sales model based on "investment, self-operation, and other sales models as a supplement" to create a full-chain value advantage from the enterprise to the terminal, enhance market competitiveness, and meet the multiple needs of medical terminals, customers, and patients. In terms of product promotion, the company combines current academic research and clinical pain points to fully explore and shape the differentiated advantages of products in related fields, continue to comprehensively promote academic marketing, continue to strengthen grassroots academic and patient education, and create a high-quality and responsible corporate image. In addition, the company continues to focus on clinical and patient usage scenarios, providing multi-scenario treatment plans to meet the medication needs in different scenarios, thereby improving the quality of patient treatment.

The company further strengthens market management and layout, continues to integrate internal and external superior resources, and deeply explores resource advantages. Implement a variety of measures to stimulate employees' enthusiasm and ability and maintain the vitality of the sales team. The company continues to implement professional academic promotion strategies to improve the quality of pharmacy and medical services, strengthen the company's competitive advantage in the grade hospital market, and actively carry out diversified academic activities focusing on academic training sessions and clinical pathway academic seminars to strengthen doctors' understanding of the efficacy, usage methods, differential advantages, etc. of the company's products, so as to achieve rational and standardized medication use. Continue to promote terminal sinking, further expand the third terminal market and OTC market, and continue to enhance its influence at the grassroots level. At the same time, combined with its digital advantages, the company actively explores the layout of digital channels such as new media and e-commerce.

(4) R&D model

The company's R&D center has established a collaborative, interconnected, and internally complementary R&D model, and established a R&D platform for traditional Chinese medicine innovative drugs, supplemented by polymer cross-linked special preparations, high-end chemical generic drugs, and a "TCM+" health product R&D platform. Responsible for the research and development of the company's strategic pipelines, innovative varieties, key core technologies and common technology platforms, coordinating pipeline planning, project review, quality control and technical support, while focusing on existing product process optimization, secondary development and production-end technology transformation to achieve effective connection between cutting-edge R&D and industrial applications.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

The company adheres to independent research and development as its basis, relies on the R&D center to make full use of external innovation resources, and establishes a collaborative cooperation mechanism with domestic national professional CRO R&D service institutions, medical colleges and scientific research institutes, effectively integrates industry R&D resources, and introduces new drugs with clinical value and market potential. Variety, promote new drug project approval, preclinical research, clinical research, registration and application until industrialization, ensure high-quality advancement of R&D projects, create products with differentiated competitive advantages, enrich product portfolio, accelerate product launch process, and continue to provide technical support for the iterative upgrade of the company's product pipeline.

2. Analysis of core competitiveness

The company is an enterprise dedicated to the pharmaceutical and health industry. Its business covers the research and development, production and sales of pharmaceuticals, and it is involved in the field of pharmaceutical investment. The company has always been customer-oriented, providing high-quality products and excellent services. After years of steady development, the company has steadily built its core competitiveness and gradually realized corporate value.

(1) Focus on the main business and give full play to professional advantages

As health awareness increases, the population ages, and the environment and lifestyle change, the incidence of cardiovascular, cerebrovascular, orthopedic, tumor and other diseases is getting younger and rising rapidly. The company's core products focus on the three major fields of cardiovascular and cerebrovascular, orthopedics, and anti-tumor: in the cardiovascular and cerebrovascular field, it mainly promotes Xinnaoning Capsules, Shenxiong Glucose Injection, etc.; in the orthopedic field, sodium hyaluronate injection is the leading product; in the anti-tumor field, it has products such as pemetrexed disodium for injection, irinotecan hydrochloride injection, gemcitabine hydrochloride for injection, fludarabine phosphate for injection, and oxaliplatin for injection. In addition, the company also holds ophthalmic device products, mainly medical sodium hyaluronate gel, and has a number of products in clinical research or have obtained clinical approval. In the future, the company will continue to launch new products and enrich its product line.

In the field of cardiovascular and cerebrovascular diseases, Xinnaoning capsule is a key product of the company and is a product that treats the heart and brain. Its main functions are promoting blood circulation and qi, unblocking collaterals and relieving pain. It is used for chest pain, headache and dizziness caused by qi stagnation and blood stasis. It has been recommended by the "Expert Consensus on the Diagnosis and Treatment of Chronic Cerebral Ischemia with Integrated Traditional Chinese and Western Medicine" (2024 Edition) for chronic cerebral ischemia caused by phlegm and blood stasis blocking collaterals. This product was selected into the sub-project of the National Key Research and Development Program "Evidence-based evaluation of ten major varieties of Chinese patent medicines and classic famous prescriptions for post-marketing treatment of major diseases and demonstration research on their effect mechanisms" - "Research on the residual risk of Xinnaoning Capsules in the precise intervention of post-acute coronary syndrome with carotid artery plaque". Based on the "heart and brain treatment" theory of Xinnaoning Capsule based on network pharmacology technology, research on the efficacy and mechanism of regulating dyslipidemia has been carried out, and research on the lipid-lowering efficacy and mechanism of improving high-fructose-induced high TG hyperlipidemia and high-fat emulsion-induced hyperlipidemia in rats has been completed. Pharmacodynamic research on the treatment of non-alcoholic fatty liver is ongoing. Cooperate with Guizhou Medical University to launch the "Key Technologies of Traditional Chinese and Ethnic Medicines and New Drug Creation", a major scientific and technological project of Guizhou Province's "15th Five-Year Plan".

In the field of orthopedic treatment, the company actively participated in the inter-provincial alliance centralized procurement activities of sodium hyaluronate injection. In 2025, the Guangdong Alliance centralized bulk purchase of diclofenac and other drugs, in 2025 Beijing concentrated bulk procurement of drugs, Shandong Province centralized bulk procurement of drugs, and in 2025 Chongqing City led the Chongqing, Guizhou, Guizhou, Yunnan, Qingning, Ningxia, Xinjiang and other continuation procurement projects. As a result, the bidding provinces for sales have significantly expanded, substantial progress has been made in the terminal expansion of grade hospitals and primary medical institutions, and product sales have achieved rapid year-on-year growth. In the process of business advancement, the company implemented refined management and effectively controlled the rhythm of each link to ensure that the overall progress met the expected goals, further consolidating the company's market position and brand influence in the field of orthopedic treatment.

In the field of anti-tumor treatment, the company's current products, irinotecan hydrochloride injection, letrozole tablets and gemcitabine hydrochloride for injection, actively participate in the national alliance's continued procurement, and successfully won the bid for the 1st to 8th batch of expired varieties of the nationally organized centralized drug procurement. The winning bid fully demonstrates the company's product strength and competitiveness in the market, benefiting more patients. In the first half of the year, Irinotecan Hydrochloride Injection was firmly at the forefront of the market share. On the basis of consolidating the original advantage of being exclusively selected for centralized procurement, it actively expanded to more regions and terminals, ensuring a stable and orderly supply; Letrozole Tablets and Gemcitabine Hydrochloride for Injection, relying on their status as the winning bidder for centralized procurement, significantly increased their coverage and attention in various provinces and public hospitals, and continued to provide cost-effective anti-tumor treatment options for clinical use.

The company has also made significant progress in the field of generic drugs: voriconazole tablets, lansoprazole for injection, montelukast sodium chewable tablets, and pregabalin have completed the national centralized procurement and procurement, and each province has successively implemented the winning results. Among them, voriconazole tablets have achieved substantial growth in terminal coverage and clinical application by relying on the newly selected lower price tiers, and the market share in some provinces has significantly jumped; lansoprazole and montelukast sodium are expected to usher in large-scale breakthroughs in the second half of the year through in-depth collaboration with high-quality partners. The company as a whole will fully leverage the advantages of centralized procurement and winning bids, continue to expand market coverage, optimize operating costs, and enhance business profitability.

The company's oral and topical products cover specialized fields such as women and children, and pain. Oral products include Children's Huichun Granules, Lemai Pills, Fuping Capsules, and Tongdi Capsules. Topical products include Bingzhi Shangtong Aerosol, Analgesic Huoluo Tincture, Compound Salizole Aerosol, etc. The above products have shown good market potential after long-term patient education. In recent years, with the implementation of the three-child policy and the promulgation of the "Outline for the Development of Chinese Women (2021-2030)", the demand for gynecological and pediatric drugs has increased significantly, and the country's protection of women and children continues to strengthen. Among them, the Fuping capsule produced by the company is mainly used to treat common high-risk diseases in women such as pelvic inflammatory disease, adnexitis, and cervical erosion, and has broad market prospects. Bingzhi Shangtong Aerosol is a traditional Chinese medicine preparation that has the effects of clearing heat and detoxifying, cooling blood, promoting blood circulation and removing blood stasis, and analgesic. It is suitable for bruises, blood stasis, swelling and pain, and superficial second-degree burns. This product can form a protective film on the injured area, and has the characteristics of rapid pain relief, rapid swelling reduction, and safe use.

(2) Adhere to the combination of imitation and innovation to create a multi-dimensional pipeline

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

As the company's technology innovation platform, the company's R&D center coordinates pipeline planning, project review, process quality control, registration application and industrialization implementation guidance, and establishes a research and development strategy focusing on innovative traditional Chinese medicine drugs, polymer cross-linked special preparations, high-end chemical generic drugs, and "TCM +" comprehensive health products for the collaborative development strategy. The innovation direction of traditional Chinese medicine focuses on unmet clinical needs, promotes the transformation of innovative traditional Chinese medicines, classic famous prescriptions, hospital preparations with human practical basis, and clinical experience prescriptions into new drugs, and realizes the inheritance and innovation of traditional Chinese medicine. Relying on the research and development of a new class of new drug, cross-linked sodium hyaluronate, a polymer cross-linked special preparation technology platform is built to lay out long-acting sustained-release, Innovative preparations such as controlled release; select the best varieties with good market prospects to develop high-end chemical generic drugs, and build a product pattern that leads the innovation of traditional Chinese medicine and supplements chemical generic drugs; at the same time, it cooperates with scientific research institutes to promote the secondary development of large marketed varieties such as Xinnaoning Capsules and Shenxiong Glucose Injection to explore the clinical value of existing products.

In terms of ongoing research projects, long-acting sodium hyaluronate injection is in the critical stage of Phase III clinical trials, and has completed the trial plan design and submitted a communication application to CDE in accordance with the latest technical guidelines; actively promotes pilot scale-up of high-end generic drugs in anti-inflammatory, analgesic, anti-infection and other fields; completed more than 60 new traditional Chinese medicine research, selected 3-5 potential varieties for evaluation and due diligence; promoted the research and development of classic famous prescriptions such as Dihuang Yinzi Granules and applied for local science and technology projects. The overall R&D layout covers multiple treatment fields such as cardiovascular and cerebrovascular, orthopedics, and anti-infection, and the pipeline reserve is relatively sufficient.

(3) Improve the efficiency of the marketing mechanism and consolidate nationwide coverage

The company has established a professional marketing network covering 31 provinces and cities across the country. In order to improve market response capabilities and maintain high operating efficiency, the company implements a vertical and flat marketing structure based on the provincial and district sales manager responsibility system. In conjunction with the company's strategic development, while improving the hospital system marketing network, we will gradually establish and improve the grassroots terminal marketing network.

During the reporting period, the company combined product features and advantages, continued to focus on the graded medical market, actively expanded the private, county and below-level medical markets, actively participated in national volume procurement, provincial alliance volume procurement and other procurement activities, continued to expand the non-public market, and increased the share of public and non-public markets.

For Xinnaoning Capsules, we will continue to promote professional academic promotion, strengthen market access, and explore bidding and procurement opportunities; deepen marketing channels, refine management, expand sales outlets, and increase market coverage.

For sodium hyaluronate injection, the company focuses on the field of osteoarthritis and has carried out long-term academic research to systematically study the clinical efficacy of Baibei® sodium hyaluronate injection in this field. It has published a number of research papers with important reference value in journals such as "Chinese Journal of Orthopedics".

The company strengthens the management of its marketing mechanism, carries out effective market layout and related activities based on product characteristics and advantages, gives full play to its resource advantages, improves product sales performance, and lays a solid foundation for the company's long-term development.

(4) Strengthen operational management and control, implement cost reduction and increase efficiency

During the reporting period, the company improved its human resources and internal control management, and strengthened its operational assessment and risk prevention and control of subsidiaries. Subsidiaries reduce costs and increase efficiency through strategic cooperation in the supply chain, resource development of origins of Chinese medicinal materials, optimization of production processes, front-end quality control, and streamlining of internal processes. Each business entity flexibly adjusts its business strategies according to industry changes to improve market response capabilities.

3. Main business analysis

Overview

Please refer to the relevant content of "1. Main businesses engaged in by the company during the reporting period".

Year-on-year changes in major financial data

Unit: Yuan

This reporting period The same period last year Year-on-year increase or decrease Reasons for changes

Operating income 202,394,681.30 183,387,863.53 10.36% None

Operating costs 70,497,730.29 63,588,388.08 10.87% None

Selling expenses 87,664,998.49 82,705,796.68 6.00% None

Mainly due to the company's optimization of organizational structure and cost reduction management expenses 28,724,966.77 42,655,735.48 -32.66%

caused by falling

Mainly due to the company's repayment of loans, with interest minus financial expenses 2,183,461.81 14,296,706.26 -84.73%

Caused by less

Mainly due to the income tax expense of Dalian Deze included in the consolidated statements 2,873,594.50 1,118,540.35 156.91%

caused by

R&D investment 12,237,073.36 5,405,122.49 126.40% Mainly due to the company’s increase in R&D investment and cash generated from operating activities -125,168,361.24 -1,673,405.84 -7,379.86% Mainly due to the company’s restructuring to pay operating debts and increase

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Net flow plus the impact of bill settlement

Cash generated from investing activities is mainly due to the company’s purchase of bank structured deposits

-269,459,536.42 -29,799,730.10 -804.23%

Net flow to

Cash generated from financing activities

1,758,655,934.39 -7,678,469.57 23,003.73% Mainly due to the net flow caused by the company receiving restructuring funds

Cash and cash equivalents, net

1,363,778,101.97 -39,197,945.76 3,579.21% Mainly due to the increase caused by the company receiving restructuring funds

There are significant changes in the company's profit composition or profit sources during the reporting period

□Applicable Not applicable

There were no major changes in the company's profit composition or profit sources during the reporting period.

Operating income composition

Unit: Yuan This reporting period Same period last year

Year-on-year increase or decrease

Amount % of operating income Amount % of operating income

Total operating income 202,394,681.30 100% 183,387,863.53 100% 10.36% Industry

Pharmaceuticals 199,961,354.22 98.80% 172,020,868.82 93.80% 16.24% Others 2,433,327.08 1.20% 11,366,994.71 6.20% -78.59% Products

Injections 64,684,423.97 31.96% 66,651,437.37 36.35% -2.95% Solid preparations 115,568,620.56 57.10% 99,491,103.74 54.25% 16.16% Others 22,141,636.77 10.94% 17,245,322.42 9.40% 28.39% by region

North China 67,740,667.60 33.47% 68,538,727.36 37.38% -1.16% Central China 16,573,590.04 8.19% 13,983,141.38 7.63% 18.53% East China 55,252,420.40 27.30% 61,295,035.09 33.42% -9.86%South China 4,147,657.51 2.05% 10,111,490.62 5.51% -58.98%Southwest 25,309,878.01 12.51% 12,089,305.92 6.59% 109.36%Northwest 9,126,287.99 4.51% 3,884,577.89 2.12% 134.94%Northeast 22,041,840.57 10.89% 3,597,384.75 1.96% 512.72%Export 2,202,339.18 1.09% 9,888,200.52 5.39% -77.73% Industry, product or region accounting for more than 10% of the company's operating revenue or operating profit

Applicable □Not applicable

Unit: Yuan

Operating income compared to the previous year Operating costs compared to the previous year Gross profit margin compared to the previous year’s operating income Operating costs Gross profit margin

Increase/decrease in the same period of the year Increase/decrease in the same period of the year Increase/decrease in the same period by industry

Pharmaceuticals 199,961,354.22 69,658,963.53 65.16% 16.24% 22.06% -1.66% by product

Injections 64,684,423.97 37,196,817.62 42.49% -2.95% 7.46% -5.58% Solid preparations 115,568,620.56 17,894,192.60 84.52% 16.16% -0.71% 2.63% Others 22,141,636.77 15,406,720.07 30.42% 28.39% 40.67% -6.07% by region

North China 67,740,667.60 22,966,946.99 66.10% -1.16% 14.70% -4.69%East China 55,252,420.40 23,204,101.00 58.00% -9.86% 15.76% -9.30%Southwest China 25,309,878.01 6,367,716.87 74.84% 109.36% 34.28% 14.07%Northeast 22,041,840.57 8,561,662.37 61.16% 512.72% 950.32% -16.18% If the statistical caliber of the company's main business data is adjusted during the reporting period, the company's main business data for the most recent period will be adjusted based on the caliber at the end of the reporting period.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

□Applicable Not applicable

4. Analysis of non-main business

Applicable □Not applicable

Unit: Yuan Amount Proportion to total profit Explanation of reasons Whether it is sustainable

Bank structure for corporate redemptions

Investment income 6,600,274.19 60.05% Yes

Sex deposit income

Gains and losses from changes in fair value 0.00 0.00% / /

Provisions made by the company in previous years

Asset impairment 943,954.12 8.59% No Reversal of inventory depreciation provisions

Due to the company's restructuring of part of the funds

Non-operating income 1,238,726.96 11.27% No No need to pay

Mainly due to late payment of corporate taxes and fees

Non-operating expenses 522,805.40 4.76% No

gold

5. Analysis of assets and liabilities

Major changes in asset composition

Unit: Yuan End of the reporting period End of the previous year

Proportion of total assets Proportion of total assets Increase or decrease in proportion Explanation of significant changes Amount

Proportion example

Mainly due to the company receiving monetary funds 1,430,222,694.88 58.71% 75,598,626.33 9.22% 49.49%

Accounts receivable due to restructuring funds 57,743,537.42 2.37% 45,230,418.50 5.52% -3.15% No contract assets 0.00% 0.00 0.00% 0.00% No inventory 51,185,765.29 2.10% 38,834,415.79 4.74% -2.64% No investment real estate 0.00% 0.00 0.00% 0.00% No long-term equity investment 51,655,158.53 2.12% 51,293,771.30 6.26% -4.14% No fixed assets 232,308,322.14 9.54% 237,253,391.27 28.94% -19.40% No construction in progress 80,314,921.06 3.30% 72,987,991.81 8.90% -5.60% No right-of-use assets 5,398,340.50 0.22% 6,029,745.43 0.74% -0.52% No short-term borrowings 0.00% 9,761,341.05 1.19% -1.19% No contract liabilities 10,415,996.60 0.43% 15,688,918.07 1.91% -1.48% No long-term borrowings 0.00% 0.00 0.00% 0.00% No lease liabilities 5,434,612.49 0.22% 5,883,267.94 0.72% -0.50% None

Major overseas assets

□Applicable Not applicable

Assets and liabilities measured at fair value

Applicable □Not applicable

CSPC Hunan Jingfeng Pharmaceutical Co., Ltd. Full text of 2026 semi-annual report Unit: Yuan included in equity

Fair in this period

Accumulated public accrual in the current period Purchases in the current period Sales in the current period

Item Opening amount Change in value Other changes Closing amount Impairment amount Amount due to change in fair value

Profit and loss

move

financial assets

Transactional

financial assets

2,168,210 1,945,000 223,210,6 (excluding derivatives 0.00 0.00 0.00 0.00 0.00

,634.46,000.00 34.46 Financing

production)

2,168,210 1,945,000 223,210,6Total of the above 0.00 0.00 0.00 0.00 0.00 ,634.46 ,000.00 34.46

11,874,00 11,874,00Financial liabilities 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00Other changes

Whether there are any significant changes in the measurement attributes of the company's main assets during the reporting period

□Yes No

Restrictions on asset rights as of the end of the reporting period

For details, please refer to “18. Assets with restricted ownership or right of use” in “VII. Notes on Items of Consolidated Financial Statements” in Section 8 “Financial Report”.

6. Investment status analysis

Overall situation

Applicable □Not applicable

Investment amount during the reporting period (yuan) Investment amount during the same period last year (yuan) Change range

276,005,251.20 32,015,054.67 762.11%

Major equity investments obtained during the reporting period

□Applicable Not applicable

Major non-equity investments ongoing during the reporting period

□Applicable Not applicable

Financial asset investment

(1) Securities investment situation

□Applicable Not applicable

The company had no securities investments during the reporting period.

(2) Derivatives investment situation

□Applicable Not applicable

Full text of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.’s 2026 Semi-Annual Report The company had no derivative investments during the reporting period.

Usage of raised funds

□Applicable Not applicable

The company has no use of raised funds during the reporting period.

7. Sale of major assets and equity

Sale of major assets

□Applicable Not applicable

The company did not sell any major assets during the reporting period.

Sale of major equity interests

□Applicable Not applicable

8. Analysis of major holding and participating companies

Applicable □Not applicable

Information about major subsidiaries and joint-stock companies that affect the company's net profit by more than 10%

Unit: yuan Company name Company type Main business Registered capital Total assets Net assets Operating income Operating profit Net profit

-Pharmaceutical production 771,000,0 1,409,931 735,002,8 28,119,24

Shanghai Jingfeng Subsidiary 60,013,48 59,905,83 Sales 00,603.41 57.10 7.73

2.96 5.59

-Pharmaceutical production 730,000,0 655,083,1 385,213,9 2,174,501

Guizhou Jingfeng Subsidiary 11,084,52 11,562,08 Sales 00 60.40 43.67 .92

6.71 8.99Pharmaceutical production 171,000,0 307,466,3 194,339,9 113,316,6 4,871,538 3,466,351Guizhou Jingcheng Subsidiary

Sales 00 52.09 37.64 67.89 .71 .31 Pharmaceutical production 100,140,4 77,754,18 13,119,30 4,844,897 3,416,693 Dalian Deze Subsidiary 2,424,390

Sales 18.44 8.38 3.69 .16 .33

Pharmaceutical production 20,000,00 52,069,65 43,448,15 6,815,984 6,624,618 Hainan Jinrui Subsidiary 737,467.2

Sales 0 4.38 1.60 .55 .64 Acquisition and disposal of subsidiaries during the reporting period

□Applicable Not applicable

Description of major holding and joint-stock companies

9. Structured entities controlled by the company

□Applicable Not applicable

10. Risks faced by the company and countermeasures

Risks of industry policy changes

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

As the supervision of the pharmaceutical industry continues to tighten and the national medical reform advances in depth, the superimposed effects of policies such as the reform of medical insurance payment methods, centralized bulk purchase of drugs, and accelerated drug review and approval have caused the industry to face multiple pressures in terms of production costs, profit margins, and market access. The industry competition landscape is reshaping at an accelerated pace, and companies will face greater challenges in new product research and development, existing product maintenance, and market expansion.

Countermeasures: The company will establish and improve policy tracking and research and judgment mechanisms, proactively adapt to reform trends such as medical insurance fee control and centralized procurement expansion, and continue to explore space for cost reduction by optimizing product structure, promoting lean production, and strengthening supply chain management. At the same time, the company will accelerate the consistency evaluation of generic drugs and the progress of innovative drug research and development, enhance product accessibility and competitiveness, and ensure that the company maintains steady development and resilience amid policy changes.

Risk of raw material price fluctuations

The market prices of raw materials and excipients used in the company's products are susceptible to the comprehensive impact of external factors such as macroeconomic cycles and changes in market supply and demand. At the same time, the price of Chinese medicinal materials is restricted by factors such as the frequency of natural disasters and the asymmetry of growers' information acquisition capabilities, and shows strong volatility. The instability of the above prices will directly or indirectly affect the company's production cost level.

Countermeasures: The company conducts multi-dimensional classification management of materials. In terms of price trends, we always pay attention to the dynamics of the upstream raw material market: for key and large varieties of strategic raw materials, we implement strategic procurement reserves based on scientific evaluation; for key Chinese herbal medicine raw materials, we aim at authentic medicinal materials and scientific planting, continue to develop origin resources and try to cooperate with planting bases to ensure supply. Stable; for materials that are susceptible to market fluctuations, we conduct an in-depth analysis of their main influencing factors, and adopt a periodic market monitoring management method to effectively grasp material fluctuations and respond promptly; for general materials, we actively carry out supplier sourcing and establish a sound supplier system to ensure controllable costs and stable supply. At the same time, the company adjusts and optimizes procurement plans in a timely manner based on actual operating conditions, and strictly controls procurement costs.

Human resources risks

The company's development has greatly increased the demand for professional and technical talents, operation and management talents, and marketing talents, and there is a risk that the company's talent reserve and talent training cannot meet the needs of production and operation.

Countermeasures: The company will strengthen human resources planning, promote the market-based selection and employment mechanism, strengthen campus recruitment, reserve talents, establish a more scientific and reasonable long-term incentive and restraint mechanism, implement strategic measures to strengthen the enterprise through talents, and provide talent and intellectual support for the company's high-quality development.

R&D risks

At present, R&D activities are mainly affected by technical and scientific risks, clinical trial risks, intellectual property risks, changes in relevant regulatory policies, etc. during the development of new drugs, which bring uncertainty to R&D work.

Countermeasures: Continue to pay attention to the updates of domestic and foreign pharmacopoeias and guiding principles, as well as the domestic and foreign research and review status of similar varieties, grasp relevant information as soon as possible, organize learning and internal digestion, assess the degree of impact, and formulate response strategies. Establish a professional R&D committee, improve the R&D project establishment management system, set up technical plans and key nodes, and implement dynamic process control. Improve the construction of the R&D system, improve the level of software and hardware, establish a risk prevention and control mechanism, strengthen R&D quality management, stabilize the R&D team, standardize test operations, ensure the smooth completion of various R&D projects, and implement the company's strategic deployment.

Manage Risks

As the company's business scale continues to expand, the number of projects rapidly increases, and inter-department collaboration requirements continue to increase, the company will face many challenges in archival data management, contract transfer approval, cross-department task connection, logistics resource allocation, and internal process standardization. It is necessary to establish an in-house management system, standardized operating procedures and an information collaboration platform that support the efficient operation of business, ensure accurate and smooth flow of information, and adapt to scale expansion.

Countermeasures: The company will regularly review and optimize internal management processes and division of job responsibilities based on changes in the pace of business development and back-end support needs, and promote the development of internal work in a standardized, refined, and digital direction. By establishing unified data archiving standards, contract life cycle tracking mechanisms and cross-department task closed-loop management processes, we continue to improve internal operational collaboration efficiency, provide stable and reliable back-end guarantees for front-line businesses, and achieve continuous improvements in the overall operational efficiency of the enterprise.

11. Formulation and implementation of market value management system and valuation improvement plan

Whether the company has formulated a market value management system.

□Yes No

Whether the company has disclosed plans to increase its valuation.

□Yes No

12. Implementation of the “Double Improvement of Quality and Return” action plan

Has the company disclosed an announcement on the “Dual Improvement of Quality and Return” action plan?

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd. Yes  No

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Section 4 Corporate Governance, Environment and Society

1. Changes in directors and senior managers of the company

Applicable □Not applicable

Name Position held Type Date Reason Zhang Yiwei Director, Chairman Elected on April 2, 2026 Re-elected Liu Shulin Director Elected on April 2, 2026 Re-elected Liu Shulin President Appointed on April 2, 2026 Re-elected Ma Xuehong Director Elected on April 2, 2026 Re-elected Ma Xuehong Chief Financial Officer Appointed on April 2, 2026 Re-election of Zhang Li Acting Chairman and Acting Secretary of the Board of Directors Resigned upon expiration of term April 2, 2026 Re-election of Zhang Li Director Elected April 2, 2026 Re-election of Xie Shuqing Director Elected April 2, 2026 Re-election of Xu Yimin Independent Director Elected April 2, 2026 Re-election of Li Xiaoguang Independent Director Elected April 2, 2026 Re-election of Du Guocheng Independent Director Elected April 2, 2026 Guo Ce Board Secretary Appointed April 2, 2026 Guo Ce Director Elected May 21, 2026 By-election Liu Fengfeng Director Elected May 21, 2026 By-election Ji Zhibin Independent Director Elected May 21, 2026 By-election Ye Gaojing Director Elected April 2, 2026 Re-election of Ye Gaojing Director Resignation April 28, 2026 Personal reasons Lian Qizhi Director Resignation at the end of the term April 2, 2026 Re-election of Zhong Shaoxian Independent Director Resignation at the end of the term April 2, 2026 Re-election of Liu Ting Independent Director Resignation at the end of the term April 2, 2026 Re-election

2. Profit distribution and conversion of capital reserve funds into share capital during the reporting period

□Applicable Not applicable

The company plans not to distribute cash dividends, give away bonus shares, or convert public reserve funds into share capital in the first half of the year.

3. Implementation of the company’s equity incentive plan, employee stock ownership plan or other employee incentive measures

□Applicable Not applicable

The company has no equity incentive plan, employee stock ownership plan or other employee incentive measures and their implementation during the reporting period.

4. Environmental information disclosure

Whether listed companies and their major subsidiaries are included in the list of companies that disclose environmental information in accordance with the law

Yes □No

Included in the list of companies disclosing environmental information in accordance with the law

Number of companies (houses)

Serial number Company name Query index for environmental information disclosure reports in accordance with the law https://222.85.128.186:8081/eps/index/enterprise-

1 Guizhou Jingfeng Injection Co., Ltd. more?code=91520000214406110B&uniqueCode=6d1d87722cf9fa17&date=2025&typ e=true&isSearch=true

https://hnsthb.hainan.gov.cn/yfpl/#/gkwz/ndpl/qyxq?id=2024- 2 Hainan Jinrui Pharmaceutical Co., Ltd.

460100000119

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

5. Social Responsibility

The company has always attached great importance to the realization of its own social value, corporate value and employee value, and proactively shouldered corresponding social responsibilities. In terms of resource and environmental protection, we adhere to scientific and reasonable principles and are committed to promoting joint progress and coordinated development between the company and various stakeholders.

Protection of investors’ rights and interests

Shareholders are the owners of the company and enjoy the legal rights stipulated in laws, administrative regulations and the company's articles of association. As a listed company, protecting the interests of shareholders, especially small and medium-sized shareholders, and safeguarding the legitimate rights and interests of creditors are the company's most basic social responsibilities. The company continues to improve corporate governance in accordance with the law and has formed a decision-making and operating system with the shareholders' meeting, board of directors and management as the main structure to effectively protect the rights and interests of all shareholders and creditors. The company strictly fulfills its information disclosure obligations in accordance with the law and discloses information to all shareholders truthfully, accurately, completely, promptly and fairly, without selective information disclosure. At the same time, the company's financial policy is sound, its assets and funds are safe, and it takes into account the interests of creditors while safeguarding the interests of shareholders.

Protection of employee rights and interests

The company unswervingly adheres to the people-oriented concept, proactively builds a development platform for employees to fully realize their self-worth, and creates a good working environment. By creating a positive, harmonious and harmonious corporate culture, we strive to achieve the common growth of the company and its employees, so that employees can truly share the fruitful results of the company's business development. In daily management, the company vigorously promotes corporate culture, pays close attention to employees' career growth paths, and listens carefully to employees' voices and demands. Establish smooth internal communication channels within the company and fully protect the legitimate rights and interests of employees in accordance with laws and regulations. We strictly abide by a series of relevant laws and regulations such as the Labor Law, the Law on the Prevention and Control of Occupational Diseases, the Production Safety Law, the Law on the Protection of Women’s Rights and Interests, and fully respect and safeguard the personal rights and interests of employees. Not only that, the company also actively organizes and carries out various activities that are colorful and beneficial to the physical and mental health of employees, further creating a strong corporate cultural atmosphere, effectively enhancing the cohesion and centripetal force of the company, and injecting strong impetus into promoting the common progress of employees and the company.

Protection of the rights and interests of relevant parties

Based on corporate vision and long-term strategic considerations, the company attaches great importance to protecting the rights and interests of customers, suppliers and other stakeholders. We always adhere to the business principles of integrity, win-win and customer first, provide customers with high-quality products and services, focus on product quality, and attach importance to the development of long-term cooperative and win-win relationships with customers and suppliers.

Environmental protection

The company attaches great importance to environmental protection and sustainable development, advocates full utilization of resources and reduction of energy consumption, continuously researches and conducts technological improvements, actively carries out energy conservation and emission reduction activities, and advocates energy conservation and consumption reduction among all employees.

Social welfare undertakings

The company actively fulfills its social and public responsibilities, adheres to ethical standards, and takes into account the interests of customers, suppliers, employees, government and other relevant parties. Actively participate in social welfare undertakings and fulfill corporate social responsibilities with practical actions.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Section 5 Important Matters

Commitments made by the company’s actual controller, shareholders, related parties, acquirers, the company and other relevant parties that have been fulfilled during the reporting period and have been overdue and unfulfilled as of the end of the reporting period

Applicable □Not applicable

Reason for commitment when making a commitment Promising party Commitment type Commitment content Commitment period Performance status

Ye Xiangwu, the actual controller of the period, and his persons acting in concert issued the "Letter of Commitment on Avoiding Horizontal Competition with Hunan Tianyi Technology Co., Ltd.", "Letter of Commitment on Regulating Related Transactions" regarding horizontal competition, and "On Safeguarding Hunan Tianyi Technology Co., Ltd." In 2014, Ye Xiangwu was listed during the asset restructuring in March 2026.

Ye Xiangwu Related transactions, capital Independence of Technology Co., Ltd. Actual control of the company on December 30 Fulfill commitments on December 17

"Letter of Commitment on Occupation Commitments"; for details, please refer to the "Tianyi Technology: Major Asset Sales and Issuance of Shares to Purchase Assets and Raise Supporting Funds and Related Transaction Report (Revised Draft)" announced by the company during the listing period on November 27, 2014.

Is the promise on time?

Yes

fulfill

If the promise is overdue

The performance is completed,

should be explained in detail

Not applicable if performance has not been completed

The specific reasons are as follows

one step work plan

row

Non-operating capital occupation of listed companies by controlling shareholders and other related parties

□Applicable Not applicable

During the company's reporting period, there was no non-operational occupation of funds by the controlling shareholder or other related parties of the listed company.

3. Illegal external guarantees

□Applicable Not applicable

The company had no illegal external guarantees during the reporting period.

4. Appointment and dismissal of accounting firms

Has the semi-annual financial report been audited?

□Yes No

The company's semi-annual report has not been audited.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

5. The board of directors’ explanation of the accounting firm’s “non-standard audit report” for this reporting period

□Applicable Not applicable

6. Explanation of the Board of Directors on the “Non-standard Audit Report” of the previous year

□Applicable Not applicable

7. Matters related to bankruptcy and reorganization

Applicable □Not applicable

On July 2, 2024, the company received the "Decision of the Intermediate People's Court of Changde City, Hunan Province" [(2024) Xiang 07 Poshen No. 7] issued by the Changde Intermediate People's Court, and the Changde Intermediate People's Court decided to initiate pre-reorganization of the company.

On July 30, 2024, the Changde Intermediate People's Court issued a "Decision Letter" (2024) Xiang 07 Po Shen No. 7, appointing Beijing Zhonglun Law Firm as the temporary administrator of Jingfeng Pharmaceutical during the pre-reorganization period.

On August 2, 2024, the company disclosed the "Announcement on the Public Recruitment of Reorganization Investors".

On August 25, 2024, after commercial negotiations between the interim manager and the intended investors, it was finally determined that the consortium with CSPC Pharmaceutical Holdings as the lead investor would be the successful investor for the reorganization. After the successful investor was determined, the company and the interim manager signed a "Reorganization Investment Agreement" with CSPC Pharmaceutical Holdings and Changde Deyuan Investment Co., Ltd., a member of the consortium.

On October 21, 2025, the company received the (2024) Xiang 07 Po Shen No. 7 "Civil Ruling" and (2025) Xiang 07 Po Shen No. 15 "Decision Letter" from the Changde Intermediate People's Court. The Changde Intermediate People's Court ruled to accept the creditor's application for reorganization of the company and designated Beijing Zhonglun Law Firm as the company administrator.

On December 3, 2025, the company held its first creditors' meeting, and the meeting voted and approved the "Plan for Subsequent Creditors' Meetings and Voting Rules Off-site and Online".

On January 9, 2026, the company, the manager and each reorganization investor signed the "Reorganization Investment Agreement" and the "Supplementary Agreement to the Reorganization Investment Agreement".

On January 29, 2026, the company held an investor group meeting and voted to adopt the "Investors' Equity Adjustment Plan of Hunan Jingfeng Pharmaceutical Co., Ltd. Reorganization Plan (Draft)".

On January 29, 2026, the company held its second creditors meeting and voted to adopt the "Reorganization Plan of Hunan Jingfeng Pharmaceutical Co., Ltd. (Draft)" and the "Reorganization Investor Investment Plan for the Reorganization Case of Hunan Jingfeng Pharmaceutical Co., Ltd.".

On February 3, 2026, the company received the "Civil Ruling" (2025) Xiang 07 Po No. 15 from Changde Intermediate People's Court. Changde Intermediate People's Court ruled to approve the "Reorganization Plan of Hunan Jingfeng Pharmaceutical Co., Ltd." and terminate the company's reorganization procedures.

On February 6, 2026, the company received a notice from the manager that the manager's account had received all the restructuring investment funds paid by all the restructuring investors.

On March 10, 2026, all 879,774,351 shares of the capital reserve implemented by the company to implement the "Reorganization Plan of Hunan Jingfeng Pharmaceutical Co., Ltd." (hereinafter referred to as the "Reorganization Plan") have been transferred to the capital reserve and registered in the special account for property disposal of Hunan Jingfeng Pharmaceutical Co., Ltd.'s bankrupt enterprise opened by the administrator. The company's total share capital increased from 879,774,351 shares to 1,759,548,702 shares.

In mid-March 2026, the company submitted the "Report on the Implementation of the Reorganization Plan of Hunan Jingfeng Pharmaceutical Co., Ltd." to the administrator. The administrator issued a "Supervision Report on the Implementation of the Reorganization Plan of Hunan Jingfeng Pharmaceutical Co., Ltd." on the implementation of the company's reorganization plan; Hunan Qiyuan Law Firm issued a "Legal Opinion on the Completion of the Implementation of the Reorganization Plan of Hunan Jingfeng Pharmaceutical Co., Ltd.". After the company's reorganization plan was implemented, the company's controlling shareholder was changed to CSPC Pharmaceutical Holdings. According to the "Securities Transfer Registration Confirmation" issued by China Securities Depository and Clearing Co., Ltd., the aforementioned 879,774,351 converted shares were transferred from the special account for property disposal of bankrupt enterprises of Hunan Jingfeng Pharmaceutical Co., Ltd. to the securities accounts of all reorganization investors on March 17, 2026. The number of transferred shares accounted for 50.00% of the company's total share capital.

8. Litigation matters

Major litigation and arbitration matters

Applicable □Not applicable

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Litigation (Arbitration) Amount involved Whether a Litigation (Arbitration) Litigation (Arbitration) Trial Conclusion or Judgment

Disclosure date Basic information of disclosure index (10,000 yuan) Estimated liabilities Progress results and impact Execution status

situation

Dismiss the plaintiff Wuyi Wuyi Huijun’s vote

Huijun Investment Partnership

(limited partnership) full (limited partnership)

departmental litigation request. Announcement No.: Gang) and Shanghai Not yet executed July 2026 0.01 No First-instance judgment 2. Case acceptance fee 100 2025-051, Jingfeng, Dalian Execution stage 17 yen, by the plaintiff Wu Yihui 2026-067 Jingang, Dalian

Between Jun Investment Partnership and Deze

(Limited partnership) contract dispute case

burden.

The defendant Dalian Deze shall return RMB 30 million of the People's Dalian Jingang to the plaintiffs Dalian Deze and Dalian Jingang within ten days from the date of entry into force of this judgment.

Not yet executed February 2026 Announcement No.: General 3,019.18 No First instance judgment 2. Reject the plaintiff Dalian

Implementation stage 4 days 2026-010 Disputes over retrieval rights and other litigation disputes in Hong Kong. The case acceptance fee of 191,800 yuan (prepaid by the plaintiff) was borne by the defendant Dalian Deze.

Shanghai Jingfeng paid Shanghai Jingfeng Construction Group Co., Ltd. 25,636,458 yuan for the project;
Shanghai Jingfeng will pay Shanghai Jingfeng Construction Group Co., Ltd. the benefits from January 1, 2022 to the date of actual payment based on the project payment of 25,636,458 yuan and an annual interest rate of 6%.

interest;

Establishment Group Co., Ltd.

Shanghai Baoji Pharmaceutical Co., Ltd., Shanghai

Co., Ltd. versus Baoji Pharmaceutical Co., Ltd.

Items 1 and 2 of the main text of the judgment Announcement No.: Co., Ltd. Executed March 2026 3,218.04 No Shanghai Jingfeng Debt 2025-005 determined by the second instance judgment, jointly and severally liable with the company and the Shanghai Jingfeng Securities Co., Ltd. on the 18th; 2026-030 Haijingfeng About

Shanghai Jingfeng Construction Project

Group Co., Ltd.’s work contract dispute

Haijingfeng, Shanghai Baoji case

Pharmaceutical Co., Ltd. owes project payment

Within the scope of RMB 25,636,458, it has priority to receive compensation from the discount or auction price of the industrialization center construction and high-end preparation production line construction project located at No. 50 Luoxin Road, Baoshan District, Shanghai. If the obligation to pay money is not fulfilled within the period specified in the judgment, the person shall

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

In accordance with the "Civil Procedure Law of the People's Republic of China"

According to the provisions of Article 264, double the interest on the debt during the period of delayed performance shall be paid.

The second-instance case acceptance fee of 169,982 yuan was borne half and half by the appellant Shanghai Jingfeng and Shanghai Baoji Pharmaceutical Co., Ltd.

Defendant Shanghai Baoji Pharmaceutical Co., Ltd. Shanghai Jingfeng and

Shanghai Baoji Pharmaceutical Co., Ltd.

Within ten days from the plaintiff Shangye Co., Ltd.

Haijingfeng compensates according to the assessed value. The execution has not yet arrived. March 2026 Announcement No.: Inter-company 1,038.81 No First-instance judgment

A total of 57 items of equipment will be reimbursed. Operation stage 26th 2026-037 Return of original items,

10,238,520 yuan; property loss compensation

Dismiss the plaintiff’s Shanghai compensation dispute case

Jingfeng’s other claims.

Suzhou Shenmei Design

planning construction limited

The company and the Shanghai Court have not yet reached the first-instance stage of enforcement. March 2026 Announcement No.: 1,833.82 No The court has been held, and the judgment of Jingfeng and the company has not yet been reached. The execution stage 26th 2026-037 Regarding decorative decoration

Contract amendment disputes

Other litigation matters

Applicable □Not applicable

Litigation (Arbitration) Litigation (Arbitration) Amount involved Whether a pre-litigation (arbitration) Litigation (Arbitration) trial is formed

Judgment execution status Disclosure date Basic information on disclosure index (10,000 yuan) Liability calculation progress Result and impact

Case closed 5

Since then, the company has been a defendant, and the amount of the case is 822.47

Ten thousand yuan;

Less than a major lawsuit

Still in litigation (arbitration) 5 cases have been concluded 5

Cases in process 10 Announcement number: Disclosure standards Closed, 10 cases, the remaining 10 cases June 2026 1,144.76 No, among which the company 2026-006, other litigation cases are still in litigation Initiation is in progress On 11th

As a defendant in case 2026-058 (arbitration), during the litigation process, at the trial stage

5 cases, summary of case status

The amount is 1.4558 million yuan; the company is the plaintiff in the case 5

Starting from, the amount of the case

1.7671 million yuan.

9. Punishment and Rectification

□Applicable Not applicable

There were no penalties or rectifications during the company's reporting period.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

10. Integrity status of the company, its controlling shareholders and actual controllers

□Applicable Not applicable

11. Major related transactions

Related transactions related to daily operations

Applicable □Not applicable

approved

Related sharing can be obtained

Whether the related transaction is related related related transaction related related transaction related transaction amount exceeds transaction disclosure disclosure transaction transaction transaction transaction amount yijin similar relationship pricing degree approved settlement date index party type content price (10,000 amount of transaction principle (10,000 amount of method yuan) ratio market price yuan)

sales

glass

Acid

sodium,

and awarded

Quan Shi

medicine

Chengyi 3,173 99.92 10,00

/ No Cash / Medication at .07 % 0

Nationwide

area

inward

Marketing

sales promotion

wide reach

Delivery

stone medicine

sales

Zhongcheng Basis

Heart and brain

Pharmaceutical Market Announcement to Guan Ning, 2025 Stone Drugs, Stone Price Editor, Analgesia, 12 Zhongcheng Drug Control Standards, No.: Sales Huoluo 13 Pharmaceutical Shares, 2025-Drug Tincture, Japan Holdings Fang Xie 094

Fuping

Zigong Ding

Glue

Division

bag,

Tondi

Glue

Sac, 1,957 11.47

/ 5,000 No Cash / Compound .84 %

salinazole

Aerosol

agent,

Bingzhi

pain

Aerosol

agent,

Anti-inflammatory

Choleretic

capsule

Wait,

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

and awarded

Quan Shi

medicine

Honest doctor

The medicine is there

Hebei

area

inward

End of trip

end pin

sales promotion

wide reach

Delivery

Sales to Guan

Lianren Elemi 1,481 100.0

/ 5,000 No Cash / Sales En .84 0% Product (I)

Procurement

electricity

Dalian fee,

Basis

Jingang Gas

The market announcement is based on the price of stone in 2025. Dalian drug control company, etc., Year 12 grid, No.: Jinggang Joint Stock Leasing Month 13 Economic Double 2025-Holding Procurement Production Japanese Association / 0 0.00% 400 No Cash / 094 Subsidiary Fuel and Handling

determined

Si He Dong Public Square

Lisuo,

sewage

reason,

labor service

fee

6,612 20,40Total -- -- -- -- -- -- -- --

.75 0 Details of large sales returns None

Daily correlations that will occur in this period by category

The total amount of transactions carried out is estimated, as reported N/A

Actual performance during the period (if any)

The difference between the transaction price and the market reference price is relatively

Not applicable

Big reason (if applicable)

Related transactions arising from asset or equity acquisition and sale

□Applicable Not applicable

The company had no related transactions involving acquisition or sale of assets or equity during the reporting period.

Related transactions related to joint external investment

□Applicable Not applicable

The company had no related transactions involving joint external investments during the reporting period.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Related credit and debt transactions

□Applicable Not applicable

The company had no related creditor's rights or debts during the reporting period.

Dealings with related financial companies

□Applicable Not applicable

There are no deposits, loans, credit or other financial business between the company and its related financial companies and related parties.

The transactions between the financial company controlled by the company and related parties

□Applicable Not applicable

There are no deposits, loans, credit or other financial business between the financial companies controlled by the company and related parties.

Other major related transactions

□Applicable Not applicable

The company had no other major related transactions during the reporting period.

12. Major contracts and their performance

Custody, contracting and leasing matters

(1) Custody situation

□Applicable Not applicable

There was no custody situation during the company's reporting period.

(2) Contracting situation

□Applicable Not applicable

There was no contracting situation during the reporting period of the company.

(3) Leasing situation

□Applicable Not applicable

There was no leasing situation during the company's reporting period.

Major guarantee

Applicable □Not applicable

Unit: 10,000 yuan

External guarantees provided by the company and its subsidiaries (excluding guarantees to subsidiaries) Guarantee amount Collateral Counter guarantee Whether it is a guarantee Amount of guarantee Actual issuance Actual guarantee Type of guarantee Whether it is related to performance (such as situation Guarantee period Name of related party Date of birth Amount of guarantee Type Announcement on completion of the transaction Disclosed) (such as guarantee

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Revealed date (yes)

The company’s guarantees for subsidiaries

Guarantee amount Counter guarantee

Is the collateral related to the guarantee? Amount of guarantee actually issued. Actual guarantee. Guarantee type situation. Whether it has been fulfilled.

(For example, guarantee period, name of related party, announcement disclosure, date of birth, insured amount type (if completed, yes), guarantee disclosure date, yes)

2022 2026

Guizhou Jing jointly and severally liable

7,600 June 30 7,600 March 31 Yes Yes Feng Ren Guaranty

Day until day

2023 2026

Guizhou Jing jointly and severally liable

1,000 July 28 976 March 4 Yes Yes Sincere Guarantee

Day until day

Approval of subsidiaries during the reporting period

Total guarantee amount of the company: 0 Total actual guarantee amount: 8,576 (B1) Total (B2)

Approved at the end of the reporting period

Guarantee limit for subsidiaries 8,600 Total guarantee balance 0 Total (B3) (B4)

Guarantees provided by subsidiaries to subsidiaries

Guarantee amount Counter guarantee

Is the collateral related to the guarantee? Amount of guarantee actually issued. Actual guarantee. Guarantee type situation. Whether it has been fulfilled.

(For example, guarantee period, name of related party, announcement disclosure, date of birth, insured amount type (if completed, yes), guarantee disclosure date, yes)

2022 2026

Guizhou Jing jointly and severally liable

7,600 June 30 7,600 March 31 Yes No Feng Any guarantee

Day until day

2023 2026

Guizhou Jing jointly and severally liable

1,000 July 28 976 March 4 Yes No Guarantee

Day until day

Approval of subsidiaries during the reporting period

The company’s total guarantee amount is 0. The actual guarantee amount is 8,576 (C1). (C2)

Approved at the end of the reporting period

Guarantee limit for subsidiaries 8,600 Total guarantee balance 0 Total (C3) (C4)

The total amount of company guarantees (i.e. the total of the first three major items)

Approval of guarantees during the reporting period Actual guarantees during the reporting period

Total quota 0 Total amount incurred 17,152 (A1+B1+C1) (A2+B2+C2)

All guarantees approved at the end of the reporting period

Total guarantee limit 17,200 Total balance 0 (A3+B3+C3) (A4+B4+C4)

The total guarantee balance (i.e. A4+B4+C4) accounts for the company’s net capital

0.00% production ratio

Among them:

Provide guarantees for shareholders, actual controllers and their related parties

The balance (D)

Directly or indirectly, for those whose asset-liability ratio exceeds 70%

The balance of debt guarantee provided by the insured party (E)

The amount of the total guarantee exceeding 50% of the net assets (F) 0 The total amount of the above three guarantees (D+E+F) 0

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Specific instructions for using composite guarantees

Entrusted financial management

□Applicable Not applicable

The company did not have entrusted financial management during the reporting period.

Other major contracts

□Applicable Not applicable

The company had no other major contracts during the reporting period.

13. Registration form for reception of research, communication, interviews and other activities during the reporting period

Applicable □Not applicable

Reception Reception pair Basic information about the research Reception time Reception method Reception objects Main content of discussion and information provided

Location Object Type Condition Index

Corporate governance, operating conditions, development strategy,

January 1, 2026

Risk prevention and control, restructuring, investor protection and other investments

Day—June 2026 Company Telephone Communication Individual Investor Not Applicable

Issues of concern to investors (no written information provided)

March 30

material)

14. Description of other major matters

Applicable □Not applicable

Completion of the implementation of the reorganization plan and changes in company control

On March 17, 2026, 879,774,351 shares (accounting for 50.00% of the company's total share capital) formed by the company's conversion of capital reserve funds into share capital in accordance with the "Reorganization Plan" have been transferred from the special account for property disposal of bankrupt enterprises of Hunan Jingfeng Pharmaceutical Co., Ltd. to the securities account of all reorganization investors. After the transfer was completed, CSPC Pharmaceutical Holdings held 457,482,662 shares of the company (accounting for 26.00% of the company's total share capital) and became the company's largest shareholder. The controlling shareholder of the company was changed from Mr. Ye Xiangwu to CSPC Pharmaceutical Holdings, and the actual controller of the company was changed from Mr. Ye Xiangwu to Mr. Cai Dongchen.

The board of directors completes the general election work

The company held the 46th meeting of the eighth board of directors and the first extraordinary shareholders' meeting of 2026 on March 17, 2026 and April 2, 2026, respectively, and reviewed and approved proposals related to the general election. The company held the first meeting of the ninth board of directors on April 2, 2026, elected the chairman of the ninth board of directors, members of the special committees of the board of directors, and hired senior managers and other relevant personnel. The company completed the reelection and handover of the board of directors.

Cancellation of the company’s stock risk warning situation

(1) The company's reorganization plan has been completed, and the Shenzhen Stock Exchange has approved the company's cancellation of the delisting risk warning imposed due to the court's ruling to accept the reorganization. The company's stock will cancel the delisting risk warning and continue to implement other risk warnings from the opening of the market on March 26, 2026. The stock abbreviation will be changed from "*ST Jingfeng" to "ST Jingfeng", the securities code will still be "000908", and the daily increase or decrease limit of the company's stock price will still be 5%.

(2) The company’s audit report involves significant uncertainties in continuing operations that have been eliminated, and the company’s application for canceling other stock risk warnings has been reviewed and approved by the Shenzhen Stock Exchange. Other risk warnings will be removed from the company's stock opening on June 12, 2026. The stock abbreviation will be changed from "ST Jingfeng" to "Jingfeng Pharmaceuticals", the securities code will remain unchanged at "000908", and the daily increase and decrease limit of the company's stock trading price will be changed from 5% to 10%.

Company name changes

(1) On April 21, 2026, the company completed the industrial and commercial change registration procedures and obtained the "Business License" renewed by the Changde Municipal Administration for Market Regulation. The company's full name was changed from "Hunan Jingfeng Pharmaceutical Co., Ltd." to "CSPC Hunan Jingfeng Pharmaceutical Co., Ltd."

(2) On July 1, 2026, the company held the third meeting of the ninth board of directors, reviewed and approved the "Proposal on Changing the Company's Securities Abbreviation", and agreed to change the company's securities abbreviation. The Chinese abbreviation was changed from "Jingfeng Pharmaceuti" to "Jingfeng Pharmaceuti", and the English abbreviation was changed from "Jingfeng Pharmaceuti" to "CSPC"

Full text of the 2026 Semi-Annual Report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd. "Jingfeng", the company name, English name, and securities code remain unchanged. On July 2, 2026, the company's securities abbreviation was changed from "Jingfeng Pharmaceutical" to "Shiyao Jingfeng".

15. Major events of the company’s subsidiaries

□Applicable Not applicable

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Section 6 Share changes and shareholder status

1. Changes in shares

Changes in shares

Unit: Before the change in share capital Increase or decrease in this change (+, -) After this change, transfer of reserve fund

Quantity Proportion Issuance of new shares Bonus shares Others Subtotal Quantity Proportion

1. Limited

879,774, 879,774, 879,774,

Conditional shares 200 0.00% -200 50.00%

351 151 351

portion

Country

0 0.00% 0 0 0 0 0.00% family holdings

Country

113,932, 113,932, 113,932,

Legal person holds 0 0.00% 6.48%

305 305 305

765,842, 765,841, 765,842,

Other domestic holdings 200 0.00% -200 43.52%

046 846 046

its

765,842, 765,842, 765,842,

Medium: Domestic 0 0.00% 43.52%

046 046 046

Legal person holdings

within the territory

Natural persons hold 200 0.00% -200 -200 0 0.00% shares

outside

0 0.00% 0 0.00% capital holding

its

Medium: Overseas 0 0.00% 0 0.00% legal person shareholding

overseas

Natural persons hold 0 0.00% 0 0.00% shares

2. Unlimited

879,774, 879,774,

Conditional shares 100.00% 200 200 50.00%

151 351

portion

People

879,774, 879,774,

RMB Ordinary 100.00% 200 200 50.00%

151 351

Environment

0 0.00% 0 0 0 0.00% foreign-invested shares listed in China

Environment

Externally listed 0 0.00% 0 0 0 0.00% foreign-invested shares

Its 0 0.00% 0 0 0 0.00%

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

him

3. Shares 879,774, 879,774, 879,774, 1,759,54

100.00% 100.00%Total 351 351 351 8,702

Reasons for share changes

Applicable □Not applicable

Due to the implementation of the "Reorganization Plan", the company converted capital reserve funds into share capital. The equity registration date was March 10, 2026. The company used the total share capital of 879,774,351 shares as of March 4, 2026 as the base, and implemented the conversion of capital reserve funds into share capital at the rate of 10 shares for every 10 shares. A total of 879,774,351 shares were transferred. After the transfer was completed, the company's total share capital increased to 1,759,548,702 shares. The transferred shares were transferred from the special account for property disposal of bankrupt enterprises of Hunan Jingfeng Pharmaceutical Co., Ltd. to the securities accounts of all reorganization investors on March 17, 2026.

Approval status of share changes

Applicable □Not applicable

On February 3, 2026, the company received the "Civil Ruling" (2025) Xiang 07 No. 15-1 served by the Intermediate People's Court of Changde City, Hunan Province (hereinafter referred to as the "Changde Intermediate Court"), and the Changde Intermediate Court ruled to approve the "Reorganization Plan". According to the investor's equity adjustment plan in the "Reorganization Plan", the company's capital reserve is converted into share capital as follows: Based on the company's original total share capital of 879,774,351 shares, the capital reserve is converted into share capital at the rate of 10 shares for every 10 shares, resulting in a total of 879,774,351 shares. After the transfer is completed, the company's total share capital increased to 1,759,548,702 shares. The aforementioned 879,774,351 shares transferred will not be distributed to the original shareholders. They will all be transferred by the reorganization investors for cash consideration. The corresponding funds will be used to pay bankruptcy expenses, pay off various debts, supplement the company's liquidity and other purposes in accordance with the provisions of the "Reorganization Plan".

Transfer status of changes in shares

Applicable □Not applicable

According to the "Securities Transfer Registration Confirmation" issued by China Securities Depository and Clearing Co., Ltd., the aforementioned 879,774,351 converted shares were transferred from the special account for property disposal of bankrupt enterprises of Hunan Jingfeng Pharmaceutical Co., Ltd. to the securities accounts of all reorganization investors on March 17, 2026. The number of transferred shares accounted for 50.00% of the company's total share capital.

Implementation progress of share buybacks

□Applicable Not applicable

Implementation progress of using centralized bidding method to reduce and repurchase shares

□Applicable Not applicable

The impact of share changes on financial indicators such as basic earnings per share and diluted earnings per share in the most recent year and period, net assets per share attributable to the company's common shareholders □Applicable Not applicable

Other content that the company deems necessary or required to be disclosed by securities regulatory authorities

□Applicable Not applicable

Changes in restricted shares

Applicable □Not applicable

Unit: The initial limit of the stock period will be lifted in this period. The sales limit will be increased in this period.

Name of shareholder Number of shares subject to selling restrictions at the end of the period Reasons for selling restrictions Number of shares sold on the date of release of restrictions Number of shares subject to selling restrictions Number of shares

Due to company reorganization, CSPC Pharmaceutical Holdings in March 2029 0 0 457,482,662 457,482,662

Shares acquired on 16th

China Great Wall Asset Management Co., Ltd. has 0 0 20,000,000 20,000,000 Acquisition due to company reorganization Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd. in March 2029

Co., Ltd. shares acquired on the 16th

Changde Ruijian Yihe Consulting Management Co., Ltd. Acquired due to company reorganization March 2027 0 0 70,558,000 70,558,000

Shares acquired by partnership (limited partnership) 16th

Changde Zhiheng Consulting Management Partnership Acquired due to company reorganization March 2027 0 0 70,206,000 70,206,000

Shares acquired by business (limited partnership) 16th

Changde Deyuan Investment Co., Ltd. Acquired due to company reorganization March 2029 0 0 65,132,305 65,132,305

The company acquired shares on the 16th

Changde Jinyang Hongying Business Services Co., Ltd. Acquired due to company reorganization March 2027 0 0 30,000,000 30,000,000

Shares acquired by partnership (limited partnership) 16th

Ningbo Liangli Private Equity Fund Management Co., Ltd.

Due to the company's reorganization, the company was renamed in March 2027 - Liangli Yuanqi Private No. 1 0 0 25,810,779 25,810,779

Shares acquired on 16th

Raising securities investment funds

Hunan Caixin Capital Management Co., Ltd. Acquired due to company reorganization March 2027 0 0 20,000,000 20,000,000

The shares obtained by the company on the 16th

Anhui Mingze Investment Management Co., Ltd.

Due to the company's reorganization, in March 2027, the company-Mingze Vision No. 6 Bond was privately held 0 0 18,747,253 18,747,253

Shares acquired on 16th

Raising securities investment funds

Changde Shunxing Zhitong Consulting Management Co., Ltd. due to company reorganization March 2027 0 0 17,595,384 17,595,384

Shares acquired by partnership (limited partnership) 16th

Hunan Jingyi Enterprise Management Consulting Co., Ltd. Acquired due to company reorganization March 2027 0 0 15,000,000 15,000,000

Shares acquired by partnership (limited partnership) 16th

Ningbo Liangli Private Equity Fund Management Co., Ltd.

Due to the reorganization of the company, the company was renamed in March 2027 - Liangli Yuanqi No. 4 Private 0 0 14,568,602 14,568,602

Shares acquired on 16th

Raising securities investment funds

Qingdao Qishun Investment Management Co., Ltd.

Due to the company's reorganization, in March 2027, the company-Qishun Yangfan No. 5 private placement certificate was acquired 0 0 14,110,748 14,110,748

Shares acquired on 16th

securities investment funds

Hangzhou Yuanquan Investment Management Co., Ltd.

Due to the company's reorganization, in March 2027, Si-Yuanquan Donghu No. 6 private placement bonds 0 0 10,237,470 10,237,470

Shares acquired on 16th

securities investment funds

Hangzhou Yuanquan Investment Management Co., Ltd.

Due to the company's reorganization, in March 2027, Si-Yuanquan Donghu No. 9 private placement certificate 0 0 9,868,857 9,868,857

Shares acquired on 16th

securities investment funds

Changde Derun Industrial Development Co., Ltd. Acquired due to company reorganization March 2027 0 0 8,800,000 8,800,000

The shares obtained by the company on the 16th

Ningbo Liangli Private Equity Fund Management Co., Ltd.

Due to the company's reorganization, the company was renamed in March 2027 - Liangli Yuanxi No. 3 Private 0 0 7,258,396 7,258,396

Shares acquired on 16th

Raising securities investment funds

Qingdao Qishun Investment Management Co., Ltd.

Due to the company's reorganization, in March 2027, the company - Qishun Yangfan No. 19 private placement 0 0 3,097,864 3,097,864

Shares acquired on 16th

securities investment funds

Shanghai Xinchuo Investment Management Co., Ltd.

Due to the company's reorganization, in March 2027, the company-Xinchuoxinrong No. 3 private placement certificate was acquired 0 0 1,300,031 1,300,031

Shares acquired on 16th

securities investment funds

Executive shares unlocked June 2026 Zhou Shendong 200 200 0 0

Set for 29th

Total 200 200 879,774,351 879,774,351 -- --

2. Securities issuance and listing

□Applicable Not applicable

3. Number of shareholders and shareholding status of the company

Unit: Share

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Total number of common shareholders at the end of the reporting period Total number of preferred shareholders with restored voting rights at the end of the reporting period

32,288 0 Number Number (if any) (see Note 8)

Shareholding status of shareholders holding more than 5% of the shares or the top 10 shareholders (excluding shares lent through refinancing)

During the reporting period Limited holdings Unlimited holdings Pledge, marking or freezing status

end of reporting period

Name of shareholder Nature of shareholder Shareholding ratio Increase or decrease Number of shares held under sale conditions Status of shares Number of shares

Situation Number of shares Number of shares CSPC Pharmaceutical Holdings

Non-states within the territory 457,482,6 457,482,6 457,482,6

Group Limited 26.00% 0 Not applicable 0

Legal person 62 62 62

company

Great Wall of China

Asset management 133,680,6 113,680,6

State-owned legal person 7.60% 2,000,000 2,000,000 Not applicable 0 Co., Ltd. 65 65 Company

Domestic natural resources 109,252,2 - 109,252,2 Ye Xiangwu 6.21% 0.00 Pledge 9,410,000 people 86 3,000,000 86

Domestic natural resources 109,252,2 - 109,252,2 58,771,64 Ye Xiangwu 6.21% 0.00 Frozen

People 86 3,000,000 86 4Chang De Ruijian

Yihe Consulting

Non-states within the territory 70,558,00 70,558,00 70,558,00

Managing partnership 4.01% 0 N/A 0

There is a legal person 0 0 0

Enterprise (has

limited partnership)

Chang De Zhiheng

Consulting Management

Non-states within the territory 70,206,00 70,206,00 70,206,00

Partnership 3.99% 0 N/A 0

There is a legal person 0 0 0

(Limited

Guy)

Changde city de

Yuan Merchants Investment 65,132,30 65,132,30 65,132,30

State-owned legal person 3.70% 0 Not applicable 0 Limited-owned company 5 5 5

Division

Changde Jinyang

Hongying Business

Non-state within the territory 30,000,00 30,000,00 30,000,00

Service partnership 1.70% 0 N/A 0

There is a legal person 0 0 0

Enterprise (has

limited partnership)

Ningbo Liangli

private placement

Fund management

limited

Company - Volume 25,810,77 25,810,77 25,810,77

Others 1.47% 0 Not applicable 0 profit 9 9 9

Private No. 1

Raising certificates

Securities investment fund

gold

Hunan Caixin

20,000,00 20,000,00 20,000,00

Capital management State-owned legal person 1.14% 0 Not applicable 0

0 0 0

Ltd.

Anhui Mingze

investment management

Ltd.

18,747,25 18,747,25 18,747,25

－Ming Zeyuan Others 1.07% 0 Not applicable 0

3 3 3

See Debt No. 6

private equity securities

Securities investment fund

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

gold

Strategic investors or general legal persons

Became top 10 due to placement of new shares

None

Status of shareholders (if any)

(See note 3)

The company does not know whether there is any related relationship among the top ten shareholders or whether it is an explanation of concerted actions stipulated in the "Measures for the Administration of Acquisitions of Listed Companies".

The above shareholders are involved in entrustment/trusteeship

Voting rights and waiver of voting rights None

explanation of the situation

Buybacks exist among the top 10 shareholders

Special instructions for special accounts (if none

Yes) (see note 11)

Shareholdings of the top 10 shareholders without sales restrictions (excluding shares lent through refinancing and shares locked by executives)

Type of shares Name of shareholder Number of shares without selling restrictions held at the end of the reporting period

Type of shares Quantity China Great Wall Asset Management shares RMB 113,680,6

113,680,665

Limited company common stock 65

RMB general 109,252,2 Ye Xiangwu 109,252,286

Stock exchange 86 Pingjiang County State-owned Assets Affairs RMB 11,083,36

11,083,369

heart stock 9

RMB general

Yan Huibin 5,065,900 5,065,900 shares

RMB general

Sun Jiangbo 4,784,100 4,784,100 shares

RMB general

Wuyang 3,666,342 3,666,342 shares

RMB general

Cui Xiangjun 3,465,000 3,465,000 shares

RMB general

Yao Jie 3,372,000 3,372,000 common shares

RMB general

Wu Mingyu 3,100,418 3,100,418 shares

RMB general

Sun Jianqing 3,087,600 3,087,600

common stock

Top 10 shareholders with no sales limit

between, and top 10 unlimited

The company does not know whether there is a related relationship between the top ten shareholders or whether the shareholders and the top ten shareholders fall under the unanimous sales conditions stipulated in the "Measures for the Administration of Acquisitions of Listed Companies"

moving

relationship or consistency between

description of action

Top 10 common shareholders participate

Description of margin trading and securities lending business None

(if any) (see note 4)

The situation of shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10 shareholders of unrestricted tradable shares participating in the refinancing business and lending shares

□Applicable Not applicable

The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed from the previous period due to refinancing lending/returning.

□Applicable Not applicable

Whether the company's top 10 ordinary shareholders and the top 10 unrestricted ordinary shareholders conducted agreed repurchase transactions during the reporting period

□Yes No

The company's top 10 common shareholders and the top 10 common shareholders without selling restrictions did not conduct agreed repurchase transactions during the reporting period.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

4. Changes in shareholdings of directors and senior managers

□Applicable Not applicable

The shareholdings of the company's directors and senior managers did not change during the reporting period. For details, please refer to the 2025 annual report.

5. Changes in controlling shareholders or actual controllers

If the company has previously disclosed that the actual controller is planning a change of control but has not yet completed it, please explain the progress of the change of control. □Applicable Not applicable

Changes in controlling shareholders during the reporting period

Applicable □Not applicable

Name of new controlling shareholder CSPC Pharmaceutical Holdings Group Co., Ltd. Change date March 17, 2026

For details, please refer to the "Informative Announcement Regarding Changes in Shareholders' Equity and Changes in Controlling Shareholders and Actual Controllers" disclosed on the cnchao information website (Announcement No.

No.: 2026-033)

Designated website disclosure date: March 19, 2026

Changes in actual controller during the reporting period

Applicable □Not applicable

Name of the original actual controller: Ye Xiangwu

Name of new actual controller Cai Dongchen

Change date March 17, 2026

No.: 2026-033)

Designated website disclosure date: March 19, 2026

6. Relevant information on preference shares

□Applicable Not applicable

There were no preferred shares in the company during the reporting period.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Section 7 Bond-related situations

Applicable □Not applicable

1. Corporate bonds

□Applicable Not applicable

The company did not have corporate bonds during the reporting period.

2. Corporate bonds

Applicable □Not applicable

Basic information of corporate bonds

Unit: 10,000 yuan

Name of principal and interest-paying bond Bond abbreviation Bond code Issue date Value date Maturity date Bond balance Interest rate Trading venue method Basis

Hunan Jingfeng Pharmaceutical Co., Ltd. December 31, 2023 Bonds held by companies and companies in 2016 2016 2016 2021 People reached

16 Jingfeng 112468.S 18,463.9 Shenzhen Securities qualified investment October 27 October 27 October 27 7.50% extension

01 Z 2 Exchange investors disclose the case, the issuing company shall pay the principal and interest of the bond on the 1st of the bond (Issue 71, 2024). According to the "Relevant Matters Regarding Adjustments to the Trading Mechanism During the Listing Period of Corporate Bonds" disclosed by the company on June 30, 2020

"Announcement", "16 Jingfeng 01" has adjusted its bond trading method to only adopt agreed large investor suitability arrangements (if any) since July 2, 2020. After the bond trading method is adjusted, only qualified institutional investors who comply with the "Shenzhen Stock Exchange Bond Market Investor Suitability Management Measures" and other regulations can buy, and other investors holding bonds can choose to sell.

out or continue to hold.

Applicable trading mechanism Agreement block trade

Is there a risk of termination of listing and trading?

As of the disclosure date of this report, “16 Jingfeng 01” has been terminated from listing on the Shenzhen Stock Exchange.

(if any) and countermeasures

Overdue bonds

□Applicable Not applicable

Triggering and execution of issuer or investor option clauses and investor protection clauses

□Applicable Not applicable

Adjustments to credit rating results during the reporting period

□Applicable Not applicable

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

The implementation and changes of guarantees, debt repayment plans and other debt repayment guarantee measures during the reporting period and their impact on the rights and interests of bond investors

□Applicable Not applicable

3. Non-financial corporate debt financing tools

□Applicable Not applicable

During the reporting period, the company had no non-financial corporate debt financing instruments.

4. Convertible corporate bonds

□Applicable Not applicable

The company did not have convertible corporate bonds during the reporting period.

5. The loss in the consolidated statement scope during the reporting period exceeds 10% of the net assets at the end of the previous year

□Applicable Not applicable

6. The company’s main accounting data and financial indicators in the past two years as of the end of the reporting period

Unit: 10,000 yuan

Items End of the reporting period End of the previous year Increase or decrease in current ratio at the end of the reporting period compared with the end of the previous year 5.0358 0.3435 1,366.03% Asset-liability ratio 16.58% 103.58% -87.00% Quick ratio 4.8449 0.2768 1,650.33%

This reporting period Same period last year This reporting period increased or decreased net profit after deducting non-recurring gains and losses compared with the same period last year -687.58 -2,981.27 76.94% EBITDA total debt ratio 372.48% -0.86% 373.34% Interest coverage ratio 4.14 -1.19 447.90% Cash interest coverage ratio -43.8300 3.7200 -1,278.23% EBITDA interest coverage ratio 9.28 -0.26 3,669.23%Loan repayment rate 100.00% 100.00% 0.00%Interest repayment rate 100.00% 100.00% 0.00%

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Section 8 Financial Report

1. Audit report

Has the semi-annual report been audited?

□Yes No

The company's semi-annual financial report has not been audited.

2. Financial statements

The unit of statements in the financial notes is: Yuan

Consolidated balance sheet

Prepared by: CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

June 30, 2026

Unit: Yuan

Item Ending balance Beginning balance

Current assets:

Monetary funds 1,430,222,694.88 75,598,626.33 Settlement reserves

Loan funds

Trading financial assets 223,210,634.46 0.00 Derivative financial assets

Notes receivable 22,203,498.60 16,355,373.97 Accounts receivable 57,743,537.42 45,230,418.50 Accounts receivable financing

Prepayments 7,087,076.92 3,870,343.81 Premiums receivable

Reinsurance accounts receivable

Receivable reinsurance contract reserves

Other receivables 76,605,566.55 84,680,144.75 Including: interest receivable

Dividends receivable 20,156,771.27 20,156,771.27 Financial assets purchased under resale agreements

Inventory 51,185,765.29 38,834,415.79

Among them: data resources

contract assets

Assets held for sale

Non-current assets due within one year

Other current assets 13,062,994.12 10,781,154.83 Total current assets 1,881,321,768.24 275,350,477.98

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Non-current assets:

Grant loans and advances

debt investment

Other debt investments

long-term receivables

Long-term equity investment 51,655,158.53 51,293,771.30 Other equity instrument investments

Other non-current financial assets

investment real estate

Fixed assets 232,308,322.14 237,253,391.27 Construction in progress 80,314,921.06 72,987,991.81 Productive biological assets

oil and gas assets

Right-of-use assets 5,398,340.50 6,029,745.43 Intangible assets 60,533,990.03 64,182,508.60

Among them: data resources

Development expenditure 96,155,022.91 94,012,923.62

Among them: data resources

goodwill

Long-term deferred expenses 6,157,779.80 4,396,724.72 Deferred income tax assets 3,260,026.98 4,292,238.76 Other non-current assets 19,155,574.31 10,150,620.22 Total non-current assets 554,939,136.26 544,599,915.73Total assets 2,436,260,904.50 819,950,393.71Current liabilities:

Short-term borrowings 9,761,341.05 Borrowings from the central bank

borrowing funds

Trading financial liabilities

Derivative financial liabilities 11,874,000.00 11,874,000.00 Notes payable

Accounts payable 59,306,184.51 107,921,793.28 Advance payments

Contract liabilities 10,415,996.60 15,688,918.07 Financial assets sold and repurchased

Taking deposits and placing deposits with other banks

Agent for buying and selling securities

Agent underwriting securities funds

Employee benefits payable 5,959,422.03 10,223,508.06 Taxes payable 23,690,606.56 36,138,475.48 Other payables 241,904,021.34 337,460,580.44

Including: Interest payable 0.00 11,120,395.32

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Dividends payable 652,577.98 652,577.98 Handling fees and commissions payable

Reinsurance accounts payable

Liabilities held for sale

Non-current liabilities due within one year 1,365,368.24 77,673,502.41 Other current liabilities 19,073,903.46 194,813,148.64 Total current liabilities 373,589,502.74 801,555,267.43 Non-current liabilities:

insurance contract reserves

long term borrowing

bonds payable

Among them: preferred shares

perpetual bond

Lease liabilities 5,434,612.49 5,883,267.94 Long-term payables

Long-term employee benefits payable

Estimated liabilities 13,107,363.50 26,346,523.23 Deferred income 11,787,724.32 13,576,268.94 Deferred income tax liabilities 3,993.50 837,360.02 Other non-current liabilities

Total non-current liabilities 30,333,693.81 46,643,420.13 Total liabilities 403,923,196.55 848,198,687.56 Owners’ equity:

Share capital 1,296,464,185.00 416,689,834.00 Other equity instruments

Among them: preferred shares

perpetual bond

Capital reserve 1,843,044,138.89 639,908,421.59 Less: treasury shares 22,560,000.00 0.00 Other comprehensive income -18,446,200.23 -18,570,629.58 Special reserves

Surplus reserve 111,957,705.12 111,957,705.12 General risk reserve

Undistributed profits -1,120,973,241.53 -1,126,842,120.12 Total owners’ equity attributable to the parent company 2,089,486,587.25 23,143,211.01 Minority shareholders’ equity -57,148,879.30 -51,391,504.86 Total owners’ equity 2,032,337,707.95 -28,248,293.85 Total liabilities and owners’ equity 2,436,260,904.50 819,950,393.71 Legal representative: Zhang Yiwei Person in charge of accounting work: Ma Xuehong Person in charge of accounting department: Tang Yan

Balance sheet of the parent company

Unit: Yuan

Item Ending balance Beginning balance

Current assets:

Monetary funds 1,393,143,104.49 32,224,641.79

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Trading financial assets 55,000,000.00 Derivative financial assets

Notes receivable

Accounts receivable

Receivables Financing

Prepayments 59,806.22 0.00 Other receivables 264,937,125.61 97,333,476.53 Including: interest receivable

Dividends receivable

Inventory

Among them: data resources

contract assets

Assets held for sale

Non-current assets due within one year Other current assets 5,389,254.15 4,864,696.53 Total current assets 1,718,529,290.47 134,422,814.85 Non-current assets:

debt investment

Other debt investments

long-term receivables

Long-term equity investment 1,008,134,181.52 1,001,145,151.31 Other equity instrument investments

Other non-current financial assets

investment real estate

Fixed assets 340,074.27 58,590.31 Construction in progress

productive biological assets

oil and gas assets

right-of-use assets

Intangible assets 26,872,125.80 27,195,886.34

Among them: data resources

development expenditure

Among them: data resources

goodwill

Long-term deferred expenses

Deferred tax assets

Other non-current assets

Total non-current assets 1,035,346,381.59 1,028,399,627.96 Total assets 2,753,875,672.06 1,162,822,442.81 Current liabilities:

short term borrowing

Trading financial liabilities

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Derivative financial liabilities 11,874,000.00 11,874,000.00 Notes payable

Accounts payable

advance payment

Contract liabilities

Employee benefits payable 2,329,660.17 5,641,969.33 Taxes payable 246,344.98 259,109.66 Other payables 473,669,784.89 811,696,648.94 Of which: interest payable 11,116,293.48

Dividends payable

Liabilities held for sale

Non-current liabilities due within one year

Other current liabilities 184,639,232.00 Total current liabilities 488,119,790.04 1,014,110,959.93 Non-current liabilities:

long term borrowing

bonds payable

Among them: preferred shares

perpetual bond

Lease liability

long-term payables

Long-term employee benefits payable

Estimated liabilities 9,337,686.53 Deferred income

Deferred income tax liability

Other non-current liabilities

Total non-current liabilities 0.00 9,337,686.53 Total liabilities 488,119,790.04 1,023,448,646.46 Owners’ equity:

Share capital 1,759,548,702.00 879,774,351.00 Other equity instruments

Among them: preferred shares

perpetual bond

Capital reserve 5,157,484,244.45 3,954,348,527.15 Less: treasury shares 22,560,000.00 0.00Other comprehensive income -20,272,727.00 -20,272,727.00Special reserves

Surplus reserve 36,886,353.85 36,886,353.85 Undistributed profits -4,645,330,691.28 -4,711,362,708.65 Total owners’ equity 2,265,755,882.02 139,373,796.35 Total liabilities and owners’ equity 2,753,875,672.06 1,162,822,442.81

Consolidated income statement

Unit: Yuan

Project Half-year 2026 Half-year 2025

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Total operating income 202,394,681.30 183,387,863.53 Including: operating income 202,394,681.30 183,387,863.53 Interest income

Premiums earned

Fee and commission income

Total operating costs 203,062,908.88 211,411,197.52 Including: operating costs 70,497,730.29 63,588,388.08 Interest expenses

Handling fees and commission expenses

surrender deposit

Net compensation expenses

Net withdrawal of insurance liability reserves

policy dividend payout

Reinsurance cost

Taxes and surcharges 3,896,777.45 3,151,668.35 Sales expenses 87,664,998.49 82,705,796.68 Management expenses 28,724,966.77 42,655,735.48 Research and development expenses 10,094,974.07 5,012,902.67 Financial expenses 2,183,461.81 14,296,706.26 Including: interest expenses 3,494,992.30 14,195,204.84

Interest income 1,338,969.09 153,809.88 plus: other income 5,286,350.21 3,789,427.63 Investment income (losses are filled in with "-"

6,600,274.19 -384,832.38 columns)

Of which: for associates and joint ventures

361,387.23 -384,832.38 Enterprise investment income

Measured at amortized cost

Income from derecognition of financial assets

Exchange gains (losses are filled in with "-"

column)

Net exposure hedging gains (losses expressed as “—

"Fill in the column)

Gains from changes in fair value (losses calculated as

Fill in the column with "—" sign)

Credit impairment losses (losses are preceded by “—”

-2,182,036.24 -681,893.96 (Fill in the numbers)

Asset impairment losses (losses are represented by “—”

No. 943,954.12 222,310.83 (please fill in the list)

Gains from asset disposals (losses are marked with “—”

No. 294,675.73 -157,855.19 (please fill in the list)

3. Operating profit (loss should be filled in with “—”

10,274,990.43 -25,236,177.06 columns)

Add: Non-operating income 1,238,726.96 457,722.88 Less: Non-operating expenses 522,805.40 6,285,613.41

Total profit (total loss is represented by "—" 10,990,911.99 -31,064,067.59Full text of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd. 2026 Semi-annual Report

Fill in the column)

Less: Income tax expense 2,873,594.50 1,118,540.35

5. Net profit (net loss is filled in with "-"

8,117,317.49 -32,182,607.94 columns)

(1) Classification by business continuity

Net profit from continuing operations (net loss divided by

8,117,317.49 -32,182,607.94 (Fill in “—”)

Net profit from discontinued operations (net loss equal to

Fill in the column with "—" sign)

(2) Classification according to ownership ownership

Net profit attributable to shareholders of the parent company

5,868,878.59 -32,567,439.43 (Net loss is listed with "—")

Profit and loss of minority shareholders (net loss is represented by “—

2,248,438.90 384,831.49 "Fill in the numbers)

Net after-tax amount of other comprehensive income 278,116.01 47,030.29 Other comprehensive income attributable to owners of the parent company

124,429.35 23,985.45 net amount after tax

(1) Others that cannot be reclassified into profit or loss

Comprehensive income

Remeasure changes in defined benefit plans

Others that cannot be transferred to profit or loss under the equity method

Comprehensive income

Fair value of other equity instrument investments

change

Fair value of the company’s own credit risk

change

5.Others

(2) Other comprehensive items that will be reclassified into profit or loss

124,429.35 23,985.45 combined income

Other comprehensive items that can be transferred to profits and losses under the equity method

combined income

Changes in fair value of other debt investments
Financial assets are reclassified into other comprehensive

Amount of combined income

Credit impairment provisions for other debt investments
Cash flow hedging reserve
Translation differences of foreign currency financial statements 124,429.35 23,985.45 7. Others

Other comprehensive income attributable to minority shareholders

153,686.66 23,044.84 Net after tax

Total comprehensive income 8,395,433.50 -32,135,577.65 Total comprehensive income attributable to owners of the parent company

5,993,307.94 -32,543,453.98 amount

Total comprehensive income attributable to minority shareholders 2,402,125.56 407,876.33

8. Earnings per share:

(1) Basic earnings per share 0.0042 -0.037

(2) Diluted earnings per share 0.0042 -0.037

Legal representative: Zhang Yiwei Person in charge of accounting work: Ma Xuehong Head of accounting department: Tang Yan

Income statement of the parent company

Unit: Yuan

Project Half-year 2026 Half-year 2025

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Operating income 0.00 0.00 Less: Operating costs 0.00 0.00 Taxes and surcharges 823,282.72 296,376.00 Sales expenses

Management expenses 4,701,341.76 5,807,540.83 Research and development expenses

Financial expenses -1,050,801.04 6,871,805.23 Including: interest expense 0.00 6,867,061.85Interest income 1,058,047.81 422.01 plus: other income 4,434.15 24,258.64 investment income (losses are filled in with "-"

69,544,573.47 -378,371.95 columns)

Of which: for associates and joint ventures

-10,969.79 -378,371.95 Industry investment income

Money measured at amortized cost

Gains from derecognition of financial assets (losses are represented by “—”

(Fill in the number)

Net exposure hedging gains (losses expressed as “—

"Fill in the column)

Gains from changes in fair value (losses calculated as

Fill in the column with "—" sign)

Credit impairment losses (losses are preceded by “—”

-98,323.91 -8,431.68 (fill in the numbers)

Asset impairment losses (losses are represented by “—”

(Fill in the number)

Gains from asset disposals (losses are marked with “—”

(Fill in the number)

2. Operating profit (loss should be filled in with “—”

64,976,860.27 -13,338,267.05 columns)

Add: Non-operating income 1,056,707.10 200,000.00 Less: Non-operating expenses 1,550.00 5,768,359.76

3. Total profit (total loss is marked with “—”

66,032,017.37 -18,906,626.81 (fill in the column)

Less: income tax expense

4. Net profit (net loss is filled in with "—"

66,032,017.37 -18,906,626.81 columns)

(1) Net profit from continuing operations (net loss divided by

66,032,017.37 -18,906,626.81 (Fill in “—”)

(2) Net profit from discontinued operations (net loss equal to

Fill in the column with "—" sign)

5. Net amount of other comprehensive income after tax

(1) Others that cannot be reclassified into profit or loss

Comprehensive income

Remeasure changes in defined benefit plans

Others that cannot be transferred to profit or loss under the equity method

Comprehensive income

Fair value of other equity instrument investments

change

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Fair value of the company’s own credit risk

change

5.Others

(2) Other comprehensive items that will be reclassified into profit or loss

combined income

Other comprehensive items that can be transferred to profits and losses under the equity method

combined income

Changes in fair value of other debt investments
Financial assets are reclassified into other comprehensive

Amount of combined income

Credit impairment provisions for other debt investments
Cash flow hedging reserve
Translation differences of foreign currency financial statements

7.Others

Total comprehensive income 66,032,017.37 -18,906,626.81

7. Earnings per share:

(1) Basic earnings per share 0.0473 -0.0215

(2) Diluted earnings per share 0.0473 -0.0215

Consolidated cash flow statement

Unit: Yuan

Project Half-year 2026 Half-year 2025

1. Cash flow generated from operating activities:

Cash received from sales of goods and provision of services 161,232,212.38 163,062,513.69 Net increase in customer deposits and interbank deposits

Net increase in borrowing from the central bank

Net increase in borrowing funds from other financial institutions

Cash received from premiums from the original insurance contract

Net cash received from reinsurance business

Net increase in policyholders’ savings and investment funds

Cash collected from interest, fees and commissions

Net increase in borrowing funds

Net increase in repurchase business funds

Net cash received from buying and selling securities on behalf of agents

tax refund received

Other cash received related to operating activities 6,963,767.42 6,880,464.53 Subtotal of cash inflows from operating activities 168,195,979.80 169,942,978.22 Cash paid for purchasing goods and receiving services 55,188,490.46 54,323,544.54

Net increase in loans and advances to customers

Net increase in deposits with central banks and inter-banks

Cash used to pay compensation from the original insurance contract

Net increase in lending funds

Cash payments for interest, fees and commissions

Cash payment for policy dividends

Cash paid to and for employees 37,147,326.93 36,273,157.05 Various taxes paid 36,160,740.25 24,341,335.61 Other cash paid related to operating activities 164,867,783.40 56,678,346.86 Subtotal of cash outflows from operating activities 293,364,341.04 171,616,384.06 Net cash flow generated from operating activities -125,168,361.24 -1,673,405.84

2. Cash flow generated from investing activities:

Cash received from recovery of investment 0.00 705,882.35

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Cash received from investment income 6,221,191.78 0.00 Disposal of fixed assets, intangible assets and other long-term assets

324,523.00 1,509,442.22 net cash amount recovered from assets

Received from disposal of subsidiaries and other business units

net cash

Other cash received related to investing activities

Subtotal of cash inflows from investing activities 6,545,714.78 2,215,324.57 Purchase and construction of fixed assets, intangible assets and other long-term assets

52,794,616.74 554,200.00 Cash paid for period assets

Cash paid for investment 223,210,634.46 31,460,854.67 Net increase in pledged loans

Obtain payment from subsidiaries and other business units

net cash

Other cash payments related to investing activities

Subtotal of cash outflows from investing activities 276,005,251.20 32,015,054.67 Net cash flow generated from investing activities -269,459,536.42 -29,799,730.10

3. Cash flow generated from financing activities:

Cash received from investment 2,060,857,594.19 0.00 Including: Income from investment by subsidiaries from minority shareholders

Cash arrived

Obtain cash received from borrowing money

Other cash received related to financing activities 0.00 20,000,000.00 Subtotal of cash inflows from financing activities 2,060,857,594.19 20,000,000.00 Cash paid to repay debts 273,666,968.32 21,580,755.27

Distribution of dividends, profits or repayment of interest payments

2,730,045.46 6,097,714.30 cash

Including: shares paid by subsidiaries to minority shareholders

Profit, profit

Payment of other cash related to financing activities 25,804,646.02 0.00 Subtotal of cash outflows from financing activities 302,201,659.80 27,678,469.57 Net cash flow generated from financing activities 1,758,655,934.39 -7,678,469.57

4. The impact of exchange rate changes on cash and cash equivalents

-249,934.76 -46,340.25 impact

Net increase in cash and cash equivalents 1,363,778,101.97 -39,197,945.76 plus: opening balance of cash and cash equivalents 37,484,681.51 58,786,248.38
Balance of cash and cash equivalents at the end of the period 1,401,262,783.48 19,588,302.62
Cash flow statement of the parent company

Unit: Yuan

Project Half-year 2026 Half-year 2025

1. Cash flow generated from operating activities:

Cash received from selling goods and providing services

tax refund received

Other cash received related to operating activities 1,479,855.11 226,136.16 Subtotal of cash inflows from operating activities 1,479,855.11 226,136.16 Cash paid for purchasing goods and receiving services

Cash paid to and for employees 6,188,967.49 2,685,908.37 Various taxes and fees paid 811,092.72 0.00 Cash paid to other operating activities 33,961,067.66 2,728,084.36 Subtotal of cash outflows from operating activities 40,961,127.87 5,413,992.73 Net cash flow generated from operating activities -39,481,272.76 -5,187,856.57

2. Cash flow generated from investing activities:

Cash received from recovery of investment 705,882.35 Cash received from investment income 4,225,268.48 0.00

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Disposal of fixed assets, intangible assets and other long-term

Net cash received from period assets

Received from disposal of subsidiaries and other business units

net cash

Other cash received related to investing activities

Subtotal of cash inflows from investing activities 4,225,268.48 705,882.35 Purchase and construction of fixed assets, intangible assets and other long-term assets

320,801.01

Cash paid for future assets

Cash paid for investment 55,000,000.00

Obtain payment from subsidiaries and other business units

7,000,000.00

net cash

Other cash payments related to investing activities

Subtotal of cash outflows from investing activities 62,320,801.01 0.00 Net cash flow generated from investing activities -58,095,532.53 705,882.35

3. Cash flow generated from financing activities:

Cash received from investment 2,060,857,594.19 0.00 Cash received from borrowing

Other cash received related to financing activities 267,540,595.69 2,999,863.42 Subtotal of cash inflows from financing activities 2,328,398,189.88 2,999,863.42 Cash paid to repay debts 835,197,107.30 0.00 Paid to distribute dividends, profits or pay interest

72,672.71 1,262,444.44 cash

Payment of other cash related to financing activities 27,410,755.81 345,291.54 Subtotal cash outflow from financing activities 862,680,535.82 1,607,735.98 Net cash flow generated from financing activities 1,465,717,654.06 1,392,127.44

4. The impact of exchange rate changes on cash and cash equivalents

influence

Net increase in cash and cash equivalents 1,368,140,848.77 -3,089,846.78

Add: Balance of cash and cash equivalents at the beginning of the period 2,255.72 3,092,102.50

Balance of cash and cash equivalents at the end of the period 1,368,143,104.49 2,255.72
Consolidated statement of changes in owners’ equity

Amount of current period

Unit: Yuan

2026 half year

Less equity attributable to owners of the parent company

Other equity instruments Part 1 There is a decrease and there is no amount

Project capital: Other shareholders' equity, priority, perpetual, other company's treasury, comprehensive items, reserves, surplus, company risk allocation, other subtotals, shareholders' equity, debt, other's reserves, reserves, reserves, joint profits

Benefit plan -

- - 416 639 111 1,1 23,

18, 51, 28,

,68 ,90 ,95 26, 143

Previous year period 570 391 248

9,8 8,4 7,7 842,21

Closing balance ,62 ,50 ,29

1. 1. ,12 1.0

9.5 4.8 3.8 00 59 12 0.1 1

8 6 5

Add: yes

Changes in accounting policies

before

period error correction

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

its

him

- - 416 639 111 1,1 23,

18, 51, 28, ,68 ,90 ,95 26, 143

Current year 570 391 248 9,8 8,4 7,7 842,21

Initial balance ,62,50,29

1. 1. ,12 1.0

9.5 4.8 3.8 00 59 12 0.1 1

8 6 5

1,2 2,0 2,0

3. This issue adds 879 22, -

03, 124 5,8 66, 60, minus changes, 77 560 5,7

135,42 68, 343 586 (reduced to 4,3,00 57,

,71 9.3 878 ,37 ,00 Fill in “—” 51. 0.0 374

7.3 5 .59 6.2 1.8 columns) 00 0 .44

0 4 0

124 5,8 5,9 2,4 8,3

(1) Comprehensive, 42 68, 93, 02, 95, total income 9.3 878 307 125 433

5 .59 .94 .56 .50 1,2 2,0 2,0 879 22, -

03, 60, 52,

(2) All ,77 560 8,1

135 350 190 people input and minus 4,3,00 59,

,71 ,06 ,56 less capital 51. 0.0 500

7.3 8.3 8.3 00 0 .00

0 0 0 1,2 2,1 2,1 25, 05, 05, 1． Owner ,77

695 470 0.0 470 invested ordinary 4,3

,71 ,06 0 ,06 shares 51.

7.3 8.3 8.3

0 0 0 2． Other rights

beneficial instruments held

investors invest capital

3． Share branch

Payment is included in all

owner's equity

22,-

22, 45, 53,

560 8,1

560 120 279 4． Others ,00 59,

,00 ,00 ,50

0.0 500

0.0 0.0 0.0 0 .00

0 0 0

(3) Profit

allocate

1． Withdraw profit

surplus public space

Extract one

General risk preparation

3． to all

person (or share

East) distribution

4． Others

(4) All

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Inside the investor’s rights

carry forward

1． capital company

Convert accumulated assets to capital

(or equity)

surplus public

Convert accumulated assets to capital

(or equity)

3． surplus public

Accumulate to make up for losses

4． Settings subject to

Changes in benefit plan

Amount carried forward and retained

income

Other comprehensive

Consolidated income carried forward

retained earnings

6． Others

(5) Special projects

reserve

1． This issue mentions

take

This issue makes

use

(6) Others

1,2 1,8 - 2,0 - 2,0 22, 111 1,1

96, 43, 18, 89, 57, 32,

560,95 20,

This period 464 044 446 486 148 337

,00 7,7 973

Closing balance ,18 ,13 ,20 ,58 ,87 ,70 0.0 05. ,24

5.0 8.8 0.2 7.2 9.3 7.9 0 12 1.5

0 9 3 5 0 5

Amount of previous year

Unit: Yuan

2025 half year

Less equity attributable to owners of the parent company

Other equity instruments Part 1 There is a decrease and there is no amount

Project capital: Other shareholders' equity, preferred shares, perpetual bonds, other common reserves, treasury shares, comprehensive income, reserves, reserves, risks, reserves, profits, other subtotals, shareholders' equity, equity, joint profit reserves -

- - 416 617 111 1,0 81,

18, 96, 15,

,68 ,75 ,95 45, 796

Previous year period 650 925 129

9,8 1,0 7,7 952 ,18

Ending balance ,09 ,47 ,28

1. 1. ,30 9.1

0.4 6.2 7.1 00 96 12 5.5 6

0 6 0

Add: yes

Changes in accounting policies

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

before

period error correction

its

him

- - 416 617 111 1,0 81,

18, 96, 15, ,68 ,75 ,95 45, 796

Current year 650 925 129 9,8 1,0 7,7 952,18

Initial balance ,09 ,47 ,28

1. 1. ,30 9.1

0.4 6.2 7.1 00 96 12 5.5 6

0 6 0

3. Added in this issue

32, 32, 407 32, less change amount 23,

567 543,87 135 (reduced to 985

,43 ,45 6.3 ,57 Fill in “—” with .45

9.4 3.9 3 7.6 columns)

3 8 5

- - 32, 32, 407 32, 23,

(1) Comprehensive 567 543,87 135 total income, 43, 45 6.3, 57.45

9.4 3.9 3 7.6

3 8 5

(2) All

investor input and reduction

less capital

1． owner

ordinary investment

Other rights

beneficial instruments held

investors invest capital

3． Share branch

Payment is included in all

owner's equity

4． Others

(3) Profit

allocate

1． Withdraw profit

surplus public space

Extract one

General risk preparation

3． to all

person (or share

East) distribution

4． Others

(4) All

Inside the investor’s rights

carry forward

1． capital company

Convert accumulated assets to capital

(or equity)

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

surplus public

Convert accumulated assets to capital

(or equity)

3． surplus public

Accumulate to make up for losses

4． Settings subject to

Changes in benefit plan

Amount carried forward and retained

income

Other comprehensive

Consolidated income carried forward

retained earnings

6． Others

(5) Special projects

reserve

1． This issue mentions

take

This issue makes

use

(6) Others

- - 416 617 111 1,0 49,

18, 96, 47, ,68 ,75 ,95 78, 252

This period 626 517 264 9,8 1,0 7,7 519 ,73

Ending balance ,10 ,59 ,86

1. 1. ,74 5.1

4.9 9.9 4.7 00 96 12 4.9 8

5 3 5

Statement of changes in owner’s equity of the parent company

Amount of current period

Unit: Yuan

2026 half year

Other equity instruments All

Less: Others not divided

Project Capital Special Surplus Owner's Equity Priority Perpetual Inventory Comprehensive Distribution Others

Other public reserves, reserves, equity joint ventures, bonds, shares, profits

Count-

3,954 -

879,7 36,88 4,711 139,3

1. Previous year period, 348, 20,27

74,35 6,353 ,362, 73,79 Ending balance 527.1 2,727

1.00 .85 708.6 6.35

5.00

Add: yes

Changes in accounting policies

before

period error correction

its

him

879,7 3,954 - 36,88 - 139,3

2. Current year

74,35,348, 20,27 6,353 4,711 73,79Initial balance

1.00 527.1 2,727 .85 ,362, 6.35

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

5.00 708.6

3. Added in this issue

1,203 2,126 less changes 879,7 22,56 66,03

,135, ,382, (reduced to 74,35 0,000 2,017

717.3 085.6 Fill in “—” 1.00 .00 .37

0 7 columns)

66,03 66,03

(1) Comprehensive

2,017 2,017Total income

.37 .37 1,203 2,060

(2) All 879,7 22,56

,135, ,350,investor and minus 74,35 0,000

717.3 068.3 Less capital 1.00 .00

0 0 1,225 2,105 1. Owner 879,7

,695, ,470,Input ordinary 74,35

717.3 068.3 shares 1.00

0 0 2. Other rights

beneficial instruments held

investors invest capital

3． Share branch

Payment is included in all

owner's equity

22,56

22,56 45,12 4. Others 0,000

0,000 0,000 .00

.00 .00

(3) Profit

allocate

1． Withdraw profit

surplus public space

to all

person (or share

East) distribution

3． Others

(4) All

Inside the investor’s rights

carry forward

1． capital company

Convert accumulated assets to capital

(or equity)

surplus public

Convert accumulated assets to capital

(or equity)

3． surplus public

Accumulate to make up for losses

4． Settings subject to

Changes in benefit plan

Amount carried forward and retained

income

Other comprehensive

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Consolidated income carried forward

retained earnings

6． Others

(5) Special projects

reserve

1． This issue mentions

take

This issue makes

use

(6) Others

1,759 5,157 - 2,265

22,56 36,88 4,645

This period ,548, ,484, 20,27 ,755,

0,000 6,353 ,330,

Closing balance 702.0 244.4 2,727 882.0 .00 .85 691.2

0 5 .00 2

Amount of previous year

Unit: Yuan

2025 half year

Other equity instruments All

Less: Others not divided

Project Capital Special Surplus Owner's Equity Priority Perpetual Inventory Comprehensive Distribution Others

Other public reserves, reserves, equity joint ventures, bonds, shares, profits

Count-

3,954 -

879,7 36,88 4,655 195,6

1. Previous year period, 348, 20,27

74,35 6,353 ,050, 86,43 Ending balance 527.1 2,727

1.00 .85 066.4 8.55

5.00

Add: yes

Changes in accounting policies

before

period error correction

its

him

3,954 -

879,7 36,88 4,655 195,6

2. Current year ,348, 20,27

74,35 6,353 ,050, 86,43 Beginning balance 527.1 2,727

1.00 .85 066.4 8.55

5.00

3. Added in this issue

-Minus change amount

18,90 18,90 (reduced by

6,626 6,626 Fill in “—”

.81 .81 column)

(1) Comprehensive 18,90 18,90Total income 6,626 6,626

.81 .81

(2) All

investor input and reduction

less capital

1． owner

ordinary investment

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Capital invested by other equity instrument holders

3． The amount of share-based payment included in owners’ equity

4． Others

(3) Profit distribution

1． Withdrawal from surplus reserve

Distributions to owners (or shareholders)

3． Others

(4) Internal carryover of owners’ equity

1． Conversion of capital reserves to capital (or share capital)

Conversion of surplus reserves to capital (or share capital)

3． Surplus reserve to cover losses

4． Changes in defined benefit plans are carried forward to retained earnings

Other comprehensive income carried forward to retained earnings

6． Others

(5) Special reserves

1． Extract this period

Used in this issue

(6) Others - 3,954 -

879,7 36,88 4,673 176,7

This period ,348, 20,27

74,35 6,353,956, 79,81 Ending balance 527.1 2,727 1.00 .85 693.2 1.74

5.00

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

3. Basic situation of the company

Company registration place and headquarters address

Shiyao Jingfeng is a joint-stock company established through raising funds approved by the Hunan Provincial People's Government Xiangzhenghan [1998] No. 73. The company's unified social credit code: 914306007121062680, legal representative Zhang Yiwei. The company's registered address: No. 661 Taolin Road, Shuanggang Community, Zhangmuqiao Street, Changde Economic and Technological Development Zone, Hunan Province (Room 1703, Shuangchuang Building); Headquarters address: No. 661, Taolin Road, Shuanggang Community, Zhangmuqiao Street, Changde Economic and Technological Development Zone, Hunan Province (Room 1703, Shuangchuang Building).

The main business activities actually engaged in by the company

According to the China Securities Regulatory Commission's "Guidelines for Industry Classification of Listed Companies", the company's industry is pharmaceutical manufacturing (C27).

The company's business scope is: investment in pharmaceutical and medical projects with its own assets; research and development and investment in biopharmaceutical technology projects; commodity import and export trade; business management consulting, and medical and pharmaceutical research and development technology consulting. (Projects that require approval according to law can only carry out business activities after approval from relevant departments).

The company focuses on the pharmaceutical and health industry and is involved in drug research and development, production, sales and other fields. Its products cover cardiovascular and cerebrovascular, anti-tumor, orthopedics, maternal and child and other pharmaceutical fields. At present, the company has more than 20 production lines that have passed national GMP certification for large-volume injections, small-volume injections (including anti-tumor products), freeze-dried powder injections (including anti-tumor products), injection emulsions, hard capsules, pills, granules, aerosols, tinctures, oral milk, traditional Chinese medicine pieces and raw materials.

Approval issuer of the financial report and date of approval of the financial report

This financial report will be reported after approval by the fifth meeting of the company's ninth board of directors on August 19, 2026.

4. Basis for preparation of financial statements

Basics of preparation

The Company's financial statements are based on going concern, based on actual transactions and events, in accordance with the "Accounting Standards for Business Enterprises - Basic Standards" and specific accounting standards promulgated by the Ministry of Finance (hereinafter referred to as the Accounting Standards for Business Enterprises), and are prepared based on the important accounting policies and accounting estimates formulated.

Continued operations

On December 3, 2025, the company held its first creditors' meeting, and the meeting voted and approved the "Plan for Subsequent Creditors' Meetings and Voting Rules Off-site and Online".

On January 29, 2026, the company held an investor group meeting and voted and approved the "Investors' Equity Adjustment Plan for the Reorganization Plan of Hunan Jingfeng Pharmaceutical Co., Ltd. (Draft)"; on the same day, the company held the second creditors meeting and voted and approved the "Reorganization Plan of Hunan Jingfeng Pharmaceutical Co., Ltd. (Draft)" and the "Reorganization Investor Investment Plan for the Reorganization Case of Hunan Jingfeng Pharmaceutical Co., Ltd.". The reorganization plan mainly includes using the company's total share capital as the base to transfer capital reserves to share capital, and the transferred shares will be transferred to the reorganization investors; determine the reorganization investors through public recruitment, and the investors will transfer the shares and pay the investment in accordance with the agreement; formulate differentiated settlement plans for different types of claims, including priority claims, ordinary claims, inferior claims and related claims within the scope of consolidated statements, etc., to maximize the protection of the legitimate rights and interests of creditors.

On February 3, 2026, the company received the "Civil Ruling" (2025) Xiang 07 Po No. 15 sent by the Changde Intermediate People's Court. The Changde Intermediate People's Court ruled to approve the "Reorganization Plan of Hunan Jingfeng Pharmaceutical Co., Ltd." (hereinafter referred to as the "Reorganization Plan") and terminate the company's reorganization procedures.

On February 6, 2026, the company received a notice from the administrator that the administrator's account had received all the restructuring investment funds paid by all restructuring investors, totaling 2,060,857,594.19 yuan.

On March 17, 2026, the company received the "Securities Transfer Registration Confirmation" issued by China Securities Depository and Clearing Co., Ltd., and 879,774,351 converted shares (accounting for 50.00% of the company's total share capital) were transferred from the special account for property disposal of bankrupt enterprises of Hunan Jingfeng Pharmaceutical Co., Ltd. to the securities accounts of all reorganization investors. In summary, the company has received all the investment funds paid by the restructuring investors and completed the transfer of capital reserves to equity capital. This amount has directly improved the company's cash flow situation, and the net assets attributable to the parent company will increase significantly. The company has used the investment funds to complete the repayment of mature debts such as "16 Jingfeng 01", the scale of liabilities has dropped significantly, and the asset-liability structure has been fundamentally improved.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Sexual optimization. After the implementation of the reorganization plan, the company's fundamentals have fundamentally improved. In the future, it will gradually improve its sustainable profitability and protect the legitimate rights and interests of the company, creditors and shareholders.

In view of the above circumstances, the Company's Board of Directors has carefully considered the Company's future liquidity, operating conditions and available financing sources when evaluating the Company's ability to continue operating. The Company has formulated the following plans and measures to reduce operating capital pressure and improve financial conditions:

(1) Continue to improve management levels. The company's current management team will continue to transform and improve all aspects of products, production, and sales, improve management levels, and reshape brand advantages, including: optimizing product pipelines and focusing on existing core products; adjusting the marketing model from independent sales operations of each subsidiary to the company's unified sales model; strengthening the three-terminal sales layout such as grassroots and private medical institutions to increase product sales and market coverage; establishing and improving an R&D quality management system that is in line with international standards, strengthening the construction of R&D project management systems, etc., to achieve rapid market recovery and sustainable development.

(2) Continue to do a good job in the main business and stabilize operating performance. At present, the company's production is operating normally. On this basis, the company will continue to do a good job in production organization and raw material procurement, reduce operating costs, and conscientiously do a good job in increasing revenue and cutting expenditures; according to market changes, increase the company's new revenue direction; strive to improve the company's financial status and ensure the company's production and operating capital needs.

(3) The company has further optimized the organizational operation management structure, including optimizing the budget system, operating responsibility system and assessment system, human resources management system, goal management system and information management system, etc. Strengthen corporate management, strengthen the standardized operation management of listed companies and subsidiaries in terms of strategy, finance, talent, business, etc., control operating risks, improve operational capabilities, continuously strengthen the operation quality of the internal control management system, reduce management costs and expenses by establishing and operating a normalized management improvement mechanism, and promote and ensure the sustainable development of the company.

The above measures will help the company maintain its ability to continue operating, and there are no major obstacles to the implementation of the above measures. Therefore, it is appropriate for the company to prepare financial statements based on continued operations.

5. Important accounting policies and accounting estimates

Specific accounting policies and accounting estimation tips:

None

Statement on compliance with corporate accounting standards

The financial statements prepared by the company comply with the requirements of the Accounting Standards for Business Enterprises and truly and completely reflect the company's financial status, operating results, cash flow and other relevant matters.

information.

Accounting period

The company's fiscal year is the Gregorian calendar year, that is, from January 1 to December 31 of each year.

Business cycle

The company uses 12 months a year as its normal operating cycle, and uses the operating cycle as the liquidity classification standard for assets and liabilities.

Accounting standard currency

The Company uses RMB as its functional accounting currency.

Determination method and selection basis of importance standards

Applicable □Not applicable

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Project Materiality Criteria

The individual amount accounts for more than 10% of the accounts receivable or bad debt provisions, and the amount exceeds 1 million yuan, or the accounts receivable for which bad debt provisions are made for an important individual item

Provision for bad debts during the period affects changes in profit and loss

The impact of the reversal of bad debt provisions accounts for more than 10% of the reversal of bad debt provisions for the current period, and the amount exceeds 1 million important receivables and the recovery or reversal of bad debt provisions

Yuan, may affect changes in profit and loss for the current period

The actual write-off of important accounts receivable accounts for more than 10% of the corresponding accounts receivable, and the amount exceeds 1 million yuan

Significant changes occur in the book value of advances from receipts and contract assets. The change in the current period exceeds 30%.

Important construction projects under construction with large investment budgets and the current amount accounting for more than 10% of the total amount of construction in progress for the current period

(or the ending balance accounts for more than 10%)

The R&D project has a large budget and its capitalized amount accounts for more than 10% (or the ending balance accounts for an important capitalized R&D project

than 10% or more)

Important accounts payable and other payables that exceed one year account for more than 10% of the balance of accounts payable or other payables, and the amount exceeds 1 million yuan

Important estimated liabilities: Single type estimated liabilities account for more than 10% of the total estimated liabilities, and the amount exceeds 1 million yuan

Subsidiaries in which minority shareholders hold more than 5% of the equity and whose total assets, net assets, operating income and net profit account for a significant proportion of the equity held by the minority shareholders

More than 10% of the corresponding items in the consolidated statement

The book value accounts for more than 10% of the long-term equity investment, or the investment from joint ventures or associates is significant.

Capital income (loss calculated in absolute amount) accounts for more than 10% of the net profit in the consolidated statement

The total assets or total liabilities account for more than 10% of the consolidated statement, and the absolute amount exceeds 10 million yuan. Important debt restructuring

Or the impact on net profit exceeds 10%

Important contingencies The amount exceeds 10 million yuan and accounts for more than 10% of the absolute value of the net assets in the consolidated statement

Accounting treatment methods for business combinations under the same control and those not under the same control

(1) Business merger under common control

For a long-term equity investment formed by a business merger under the same control, if the merging party pays cash, transfers non-cash assets or assumes debts as the merger consideration, the share of the book value of the owner's equity of the merged party in the final controlling party's consolidated financial statements on the merger date shall be regarded as the initial investment cost of the long-term equity investment. If the merging party issues equity instruments as the consideration for the merger, the total face value of the shares issued shall be deemed as share capital. The difference between the initial investment cost of a long-term equity investment and the book value of the merger consideration (or the total face value of the shares issued) shall be adjusted to the capital reserve; if the capital reserve is insufficient for offset, the retained earnings shall be adjusted.

(2) Business combination not under common control

For business combinations not under common control, the combination cost is the sum of the fair value of the assets paid by the purchaser, liabilities incurred or assumed, and equity securities issued by the purchaser to obtain control of the purchased party on the purchase date. The identifiable assets, liabilities and contingent liabilities of the acquiree that meet the recognition conditions and are acquired in a business combination not under common control are measured at fair value on the acquisition date. The difference between the purchaser's cost of merger and the fair value of the acquiree's identifiable net assets acquired in the merger is reflected in the value of goodwill. If the purchaser's merger cost is less than the fair value share of the acquiree's identifiable net assets obtained in the merger, and after review, the difference between the merger cost and the fair value share of the acquiree's identifiable net assets obtained in the merger shall be included in the non-operating income of the current period.

Judgment standards for control and preparation methods of consolidated financial statements

(1) Judgment criteria for control

The scope of consolidation of consolidated financial statements is determined based on control. An invested unit that possesses the following three elements is deemed to control it: having power over the invested unit, enjoying variable returns due to participation in relevant activities of the invested unit, and having the ability to use power over the invested unit to affect the amount of returns.

(2) Preparation method of consolidated financial statements

Unify the accounting policies of the parent and subsidiary companies, unify the balance sheet dates and accounting periods of the parent and subsidiary companies

If the accounting policies or accounting periods adopted by a subsidiary and the Company are inconsistent, when preparing consolidated financial statements, necessary adjustments will be made to the financial statements of the subsidiary in accordance with the Company's accounting policies or accounting periods.

Offset matters in consolidated financial statements

The consolidated financial statements are based on the financial statements of the parent company and subsidiaries, and have eliminated internal transactions between the parent company and its subsidiaries, and between subsidiaries. The share of the subsidiary's owner's equity that does not belong to the company, as minority shareholders' equity, is listed as "minority shareholders' equity" under the shareholder's equity item in the consolidated balance sheet. The subsidiary's long-term equity investment held by the parent company is regarded as the parent company's treasury stock. As a deduction from shareholders' equity, it is listed as "less: treasury shares" under the shareholder equity item in the consolidated balance sheet.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Accounting treatment of subsidiaries acquired through merger

For subsidiaries acquired through business combinations under common control, the business combination will be deemed to have occurred when the ultimate controlling party began to exercise control, and its assets, liabilities, operating results and cash flows will be included in the consolidated financial statements from the beginning of the current period of merger; for subsidiaries acquired through business combinations not under common control, when preparing consolidated financial statements, their individual financial statements will be adjusted based on the fair value of the identifiable net assets on the acquisition date.

Accounting treatment for disposal of subsidiaries

If a long-term equity investment in a subsidiary is partially disposed of without losing control, in the consolidated financial statements, the difference between the disposal price and the share of the subsidiary's net assets continuously calculated from the date of purchase or merger will be adjusted to the capital reserve. If the capital reserve is insufficient for offset, the retained earnings will be adjusted. If control over the investee is lost due to disposal of part of the equity investment or other reasons, when preparing consolidated financial statements, the remaining equity shall be remeasured according to its fair value on the date of loss of control. The difference between the sum of the consideration obtained for disposing of the equity and the fair value of the remaining equity, minus the share of the original subsidiary's net assets calculated continuously from the date of purchase or merger based on the original shareholding ratio, shall be included in the investment income for the period when control is lost, and goodwill shall be offset at the same time. Other comprehensive income related to the equity investment in the original subsidiary will be converted into current investment income when control is lost.

Classification of joint arrangements and accounting treatment of joint operations

(1) Classification of joint arrangements

Joint arrangements are divided into joint operations and joint ventures. Joint arrangements that are not reached through separate entities are classified as joint operations. An independent entity refers to an entity with a separately identifiable financial structure, including independent legal entities and entities that do not have legal entity qualifications but are recognized by law. Joint arrangements entered into between separate entities are generally classified as joint ventures. If changes in relevant facts and circumstances lead to changes in the rights and obligations of a joint venture party in the joint venture arrangement, the joint venture party shall reassess the classification of the joint venture arrangement.

(2) Accounting treatment of joint operations

As a joint operating participant, the company recognizes the following items related to the interest share in the joint operation, and performs accounting treatments in accordance with the relevant accounting standards for enterprises: recognizes assets or liabilities held individually, and recognizes jointly held assets or liabilities based on shares; recognizes income generated from the sale of the share of joint operation output; recognizes income generated by joint operations from the sale of output based on shares; recognizes expenses incurred individually, and recognizes expenses incurred in joint operations based on shares.

The Company is a participant that does not enjoy joint control over the joint operation. If it owns the assets related to the joint operation and assumes the liabilities related to the joint operation, it shall conduct accounting treatment in accordance with the provisions of the joint operation participants and in accordance with the provisions of the relevant accounting standards for enterprises.

(3) Accounting treatment of joint ventures

The Company is a party to a joint venture and accounts for investments in joint ventures in accordance with the "Accounting Standards for Business Enterprises No. 2 - Long-term Equity Investment"; the Company is a non-joint party and accounts for investments based on the degree of influence on the joint venture.

Determination standards for cash and cash equivalents

The cash determined when the company prepares the cash flow statement refers to cash on hand and deposits that can be used for payment at any time. The cash equivalents determined when preparing the cash flow statement refer to investments held with short term, strong liquidity, easy to convert into known amounts of cash, and with little risk of value changes.

Foreign currency business and foreign currency statement conversion

(1) Foreign currency business conversion

The Company's foreign currency transactions are recorded in the functional currency using the spot exchange rate on the date of the transaction. Foreign currency monetary items on the balance sheet date are converted at the spot exchange rate on the balance sheet date. The exchange differences arising from the difference between the spot exchange rate on that day and the spot exchange rate on initial recognition or on the previous balance sheet date are included in the current profit and loss, except for the exchange differences on special foreign currency borrowings that meet the capitalization conditions, which are capitalized and included in the cost of related assets during the capitalization period. Foreign currency non-monetary items measured at historical cost are still converted using the spot exchange rate on the date of the transaction, and their recording currency amount does not change. Foreign currency non-monetary items measured at fair value are converted using the spot exchange rate on the date when the fair value is determined. The difference between the converted accounting functional currency amount and the original accounting functional currency amount is treated as a change in fair value (including exchange rate changes), and is included in the current profit and loss or recognized as other comprehensive income.

(2) Conversion of foreign currency financial statements

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

If the Company's subsidiaries, joint ventures, associates, etc. use a different recording currency than the Company, their foreign currency financial statements must be converted before accounting and preparation of consolidated financial statements. The asset and liability items in the balance sheet are translated using the spot exchange rate on the balance sheet date. Owner's equity items, except for the "undistributed profits" items, are translated using the spot exchange rate at the time of occurrence. Income and expense items in the income statement are translated using the spot exchange rate on the date of transaction. The translation differences of foreign currency financial statements arising from the translation are listed under other comprehensive income under the owner's equity item in the balance sheet. Foreign currency cash flows shall adopt the spot exchange rate on the date when the cash flows occur. The impact of exchange rate changes on cash is presented separately in the cash flow statement. When an overseas operation is disposed of, the translation difference of foreign currency statements related to the overseas operation shall be transferred to the current profit and loss of the disposal in full or in proportion to the disposal of the overseas operation.

Financial instruments

(1) Classification, recognition and measurement of financial instruments

Financial assets

Based on the business model of managing financial assets and the contractual cash flow characteristics of financial assets, the Company divides financial assets into the following three categories:

①Financial assets measured at amortized cost. The business model for managing such financial assets is aimed at collecting contractual cash flows, and the contractual cash flow characteristics of such financial assets are consistent with the basic lending arrangement, that is, the cash flows generated on a specific date are only payments of principal and interest based on the outstanding principal amount. Interest income from such financial assets is subsequently recognized in accordance with the effective interest rate method.

② Financial assets measured at fair value with changes included in other comprehensive income. The business model for managing such financial assets aims at both collecting contractual cash flows and selling the financial assets, and the contractual cash flow characteristics of such financial assets are consistent with the basic lending arrangements. This type of financial assets is subsequently measured at fair value, and its changes are included in other comprehensive income, but interest income, impairment losses or gains and exchange gains and losses calculated according to the effective interest rate method are included in the current profit and loss.

③ Measured at fair value and its changes are included in the current profit and loss. Financial assets held that are not divided into those measured at amortized cost and those measured at fair value and whose changes are included in other comprehensive income are measured at fair value, and the gains or losses (including interest and dividend income) generated are included in the current profit and loss. At initial recognition, a financial asset can be irrevocably designated as a financial asset at fair value through profit or loss if the accounting mismatch can be eliminated or reduced. This designation, once made, cannot be revoked.

For investments in non-trading equity instruments, the Company may irrevocably designate them as financial assets at fair value through other comprehensive income upon initial recognition. This designation is made on an individual investment basis and the underlying investment meets the definition of an equity instrument from the issuer's perspective. This type of financial assets is subsequently measured at fair value. Except for the dividends received (except for the recovery part of investment costs), which are included in the current profit and loss, other related gains and losses are included in other comprehensive income and are not subsequently transferred to the current profit and loss.

Financial liabilities

Financial liabilities are classified as: upon initial recognition:

① Financial liabilities measured at fair value with changes included in current profits and losses. Such financial liabilities are subsequently measured at fair value, and the resulting gains or losses are included in the current profits and losses.

② The transfer of financial assets does not meet the conditions for derecognition or the financial liabilities formed by continuing to be involved in the transferred financial assets.

③Financial liabilities measured at amortized cost. This type of financial liabilities is measured at amortized cost using the effective interest method.

(2) Recognition method of fair value of financial instruments

For financial instruments with an active market, the fair value is determined based on the quoted price in the active market; if there is no active market, valuation techniques are used to determine the fair value. In limited circumstances, if there is insufficient recent information to determine fair value, or if there is a wide range of possible estimates of fair value, and the cost represents the best estimate of fair value within that range, the cost may represent an appropriate estimate of fair value within that range. The Company uses all information about the investee's performance and operations that becomes available after the initial recognition date to determine whether the cost represents fair value.

(3) Termination of recognition of financial instruments

If a financial asset meets one of the following conditions, it will be derecognized: 1) The contractual right to receive cash flows from the financial asset terminates; 2) The financial asset has been transferred and meets the conditions for derecognition.

If the current obligation of a financial liability is discharged in whole or in part, the portion that has been discharged shall be derecognised. If an existing liability is replaced by another financial liability with substantially different terms from the same creditor, or the terms of an existing liability are substantially modified, the existing financial liability will be derecognised and a new financial liability will be recognized at the same time. Buying and selling financial assets in a regular manner is recognized and derecognized based on transaction date accounting.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Determination method and accounting treatment method of expected credit loss

(1) Scope of expected credit losses

Based on expected credit losses, the Company conducts impairment accounting and recognizes bad debt provisions for financial assets measured at amortized cost (including receivables, including notes receivable and accounts receivable), receivable financing, lease receivables, and other receivables.

(2) Method for determining expected credit losses

The general method of expected credit losses means that the company evaluates on each balance sheet date whether the credit risk of relevant financial instruments has increased significantly since initial recognition, and divides the process of credit impairment of financial instruments into three stages. Different accounting treatment methods are used for impairment of financial instruments at different stages: 1) In the first stage, if the credit risk of financial instruments has not increased significantly since initial recognition, the company measures loss provisions based on the expected credit losses of the financial instrument in the next 12 months, and based on its book balance (that is, before deducting impairment provisions) and actual Interest income is calculated based on the interest rate; 2) In the second stage, if the credit risk of a financial instrument has increased significantly since the initial recognition but no credit impairment has occurred, the company measures the loss provision based on the expected credit losses throughout the entire duration of the financial instrument, and calculates the loss provision based on its book balance and actual interest rate. Calculate interest income; 3) In the third stage, if credit impairment occurs after initial recognition, the company measures loss provisions based on the expected credit losses throughout the entire duration of the financial instrument, and calculates interest income based on its amortized cost (book balance minus accrued impairment provisions) and the actual interest rate.

A simplified approach to expected credit losses that always measures loss reserves in an amount equivalent to lifetime expected credit losses.

(3) Accounting treatment method of expected credit losses

In order to reflect the changes in the credit risk of financial instruments since the initial recognition, the company re-measures expected credit losses on each balance sheet date. The resulting increase or reversal of loss provisions shall be included in current profits and losses as impairment losses or gains, and shall be deducted from the book value of the financial assets listed in the balance sheet or included in estimated liabilities (loan commitments or financial guarantee contracts), depending on the type of financial instrument.

(4) Methods for determining credit losses of various financial assets

Notes receivable

The Company measures loss provisions for notes receivable based on an amount equivalent to the expected credit losses during the entire duration. Based on the credit risk characteristics of notes receivable, they are divided into different combinations:

Project Basis for determining combination

Bank acceptance bill The acceptor is a bank with low credit risk

Commercial acceptance bills are classified according to the credit risk of the acceptor, which is the same as the "accounts receivable" portfolio classification

Accounts receivable and contract assets

For receivables and contract assets that do not contain significant financing components, the Company measures loss provisions based on an amount equivalent to the expected credit losses during the entire duration. For receivables and contract assets that contain significant financing components, the Company chooses to always measure loss provisions at an amount equivalent to the expected credit losses during the duration.

In addition to accounts receivable for individual assessment of credit risk, they are divided into different combinations based on their credit risk characteristics:

Project Basis for determining combination

Aging Portfolio This portfolio uses the aging of accounts receivable as a credit risk characteristic.

Risk-free portfolio Related party transactions within the scope of consolidation

Other receivables

The company measures impairment losses based on whether the credit risk of other receivables has increased significantly since initial recognition, and uses an amount equivalent to the expected credit losses in the next 12 months or the entire duration. In addition to other receivables for which credit risk is assessed individually, they are divided into different combinations based on their credit risk characteristics: Project Basis for determining combinations

Aging Portfolio This portfolio uses the aging of accounts receivable as a credit risk characteristic.

Risk-free portfolio Related party transactions within the scope of consolidation

According to the standard for individually accruing bad debt provisions: the company evaluates the credit risk of financial assets with significantly different credit risks individually. If there is objective evidence that a certain financial asset has suffered credit impairment, the company will accrue impairment provisions for the financial asset on an individual basis.

Methods of measuring loss provisions for other financial assets

For financial assets other than the above, such as: debt investments, other debt investments, long-term receivables other than lease receivables, etc., loss provisions are measured according to the general method, that is, the "three-stage" model.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Accounts receivable financing

For notes receivable classified as measured at fair value with changes included in other comprehensive income, the portion with a term within one year (including one year) from the date of acquisition is listed as receivables financing; the portion with a term of more than one year from the date of acquisition is listed as other debt investments. For its relevant accounting policies, please refer to Note 5, “11. Financial Instruments” and Note 5, “12. Determination Methods and Accounting Treatment Methods of Expected Credit Loss”.

Contract assets

The Company presents the right to receive consideration for goods or services that have been transferred to the customer (and that right is dependent on factors other than the passage of time) as a contract asset. The provision for impairment of contract assets refers to the method for determining expected credit losses in the note.

Inventory

(1) Classification of inventory

Inventories refer to the finished products or commodities held by the company for sale in daily activities, products in process of production, materials and materials consumed in the production process or the process of providing labor services, etc., mainly including raw materials, products in process, self-made semi-finished products, finished products (inventory goods), shipped goods, etc.

(2) Valuation method for issued inventory

When the inventory is shipped, the weighted average method is used to determine the actual cost of the shipment.

(3) Inventory inventory system

The inventory inventory system is a perpetual inventory system.

(4) Amortization method for low-value consumables and packaging materials

Low-value consumables and packaging are amortized using the one-time write-off method.

(5) Recognition standards and accrual methods for inventory depreciation provisions

On the balance sheet date, inventories are measured at the lower of cost and net realizable value. When the net realizable value of the current period is lower than cost, inventory depreciation reserves are withdrawn and inventory depreciation reserves are accrued on a single inventory item. However, for inventory with a large quantity and low unit price, inventory depreciation reserves are accrued according to the inventory category. Inventories that are related to product series produced and sold in the same region, have the same or similar end use or purpose, and are difficult to measure separately from other items, inventory depreciation reserves can be collectively accrued. If the factors that previously caused the inventory value to be written down have disappeared, the inventory devaluation provision shall be reversed within the amount originally accrued.

When determining the net realizable value of inventories, it is based on the conclusive evidence obtained and the purpose of holding the inventories and the impact of events after the balance sheet date are also considered.

Assets held for sale

(1) Recognition standards and accounting treatment methods for non-current assets or disposal groups classified as held for sale

If the company mainly recovers its book value by selling rather than continuing to use a non-current asset or disposal group, it is classified as held for sale and meets the following conditions: First, according to the practice of selling such assets or disposal groups in similar transactions, it can be sold immediately under the current situation; second, the sale is very likely to occur, that is, the enterprise has made a resolution on a sales plan and obtained a firm purchase commitment, and the sale is expected to be completed within one year. If relevant regulations require the approval of the relevant authority or regulatory department of the enterprise before it can be sold, the approval must have been obtained.

When initially measuring or re-measuring a non-current asset or disposal group held for sale on the balance sheet date, if its book value is higher than the net amount of fair value minus selling expenses, the book value should be written down to the net amount of fair value minus selling expenses. The amount of the write-down is recognized as an asset impairment loss and included in the current profit and loss, and an impairment provision for assets held for sale is made at the same time.

For the amount of asset impairment loss recognized by a disposal group held for sale, the book value of the goodwill in the disposal group should first be deducted, and then the book value of the non-current assets should be deducted in proportion to the proportion of the book value of each non-current asset according to the measurement provisions of the "Accounting Standards for Business Enterprises No. 42 - Non-current Assets Held for Sale, Disposal Groups and Termination of Operations" applicable to the disposal group.

(2) Determination standards and presentation methods for discontinued operations

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

A discontinued operation is an individually distinguishable component that meets one of the following conditions, and the component has been disposed of by the Company or classified as held for sale by the Company: the component represents an independent main business or a separate main operating area; the component is part of an associated plan to dispose of an independent main business or a separate main operating area; the component is a subsidiary acquired specifically for resale.

The company separately lists the profit and loss from continuing operations and the profit and loss from discontinued operations in the income statement. Impairment losses and reversal amounts from discontinued operations and other operating profits and losses as well as disposal gains and losses are presented as profits and losses from discontinued operations. Disclose in the notes the income, expenses, total profits, income tax expenses (income) and net profit from discontinued operations, the impairment losses and reversal amounts recognized for assets or disposal groups from discontinued operations, the total disposal gains and losses from discontinued operations, income tax expenses (income) and net disposal gains and losses, the net cash flows from operating activities, investing activities and financing activities from discontinued operations, the profits and losses from continuing operations and the profits and losses from discontinued operations attributable to the owners of the parent company.

Long-term equity investment

(1) Judgment criteria for joint control and significant influence

Joint control means that activities that have a significant impact on the returns of an arrangement must be decided only with the unanimous consent of the parties sharing control rights, including the sale and purchase of goods or services, the management of financial assets, the purchase and disposal of assets, research and development activities, and financing activities, etc. Significant influence refers to having a significant influence when holding more than 20% to 50% of the voting capital of the invested unit, or having a significant influence even though it is less than 20% but meeting one of the following conditions: having representatives on the invested unit's board of directors or similar authority; participating in the policy-making process of the invested unit; dispatching management personnel to the invested unit; the invested unit relying on the technology or technical information of the investing company; and important transactions occurring with the invested unit.

(2) Determination of initial investment cost

For long-term equity investments obtained through a business merger, if it is a business merger under the same control, the share of the book value of the owner's equity of the merged party in the consolidated financial statements of the ultimate controlling party shall be used as the initial investment cost of the long-term equity investment on the merger date; for business mergers not under the same control, the merger cost determined on the purchase date shall be used as the initial investment cost of the long-term equity investment; long-term equity investments obtained by paying cash , the initial investment cost is the actual purchase price paid; for long-term equity investments obtained through the issuance of equity securities, the initial investment cost is the fair value of the equity securities issued; for long-term equity investments obtained through debt restructuring, the initial investment cost is determined in accordance with the relevant provisions of the Debt Reorganization Guidelines; for long-term equity investments obtained through the exchange of non-monetary assets, the initial investment cost is determined in accordance with the relevant provisions of the Non-monetary Asset Exchange Guidelines.

(3) Subsequent measurement and profit and loss recognition methods

The Company adopts the cost method to account for long-term equity investments that it is able to control over the invested entities, and adopts the equity method to account for long-term equity investments in associates and joint ventures. For equity investments in associated enterprises, part of which is indirectly held through venture capital institutions, mutual funds, trust companies or similar entities including investment-linked insurance funds, regardless of whether the above entities have a significant impact on this part of the investment, it shall be handled in accordance with the relevant provisions of "Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments", and the remaining part shall be accounted for using the equity method.

Investment real estate

Investment real estate measurement model

Cost method measurement

Depreciation or amortization method

The company's investment real estate categories include leased land use rights, leased buildings, and land use rights held and prepared to be transferred after appreciation. Investment real estate is initially measured based on cost and subsequently measured using the cost model.

Depreciation of leased buildings in investment real estate is calculated using the straight-line method, and the specific accounting policy is the same as that for fixed assets. Land use rights leased in investment real estate and land use rights held and prepared to be transferred after appreciation are amortized using the straight-line method. The specific accounting policies are the same as those for intangible assets.

Fixed assets

(1) Confirmation conditions

Fixed assets refer to tangible assets held for the production of goods, provision of labor services, leasing or operation and management and with a useful life of more than one accounting year. It shall be recognized when the following conditions are met at the same time: the economic benefits related to the fixed asset are likely to flow into the enterprise; the cost of the fixed asset can be measured reliably.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

(2) Depreciation method

Category Depreciation method Depreciation life Salvage value rate Annual depreciation rate

Houses and buildings Average age method 10-45 5% 2.11%-9.50%

Machinery and equipment Average life method 3-15 5% 6.33%-31.67%

Electronic equipment Average age method 2-10 5% 9.50%-47.50%

Transportation equipment average age method 4-20 5% 4.75%-23.75%

Other equipment Average age method 2-15 5% 6.33%-47.50%

Projects under construction

The company's projects under construction are mainly self-operated construction and outsourcing construction. The standard and time point for the transfer of projects under construction into fixed assets shall be based on the fact that the projects under construction have reached the intended usable state. The criteria for judging the intended usable state should meet one of the following conditions: the physical construction (including installation) of the fixed assets has been completed or substantially completed; trial production or trial operation has been carried out, and the results show that the assets can operate normally or can stably produce qualified products, or the trial operation results show that they can operate normally or do business; the amount of expenditures on the fixed assets constructed is very small or almost no longer occurs; the fixed assets purchased and constructed have met the design or contract requirements, or are basically consistent with the design or contract requirements.

Borrowing costs

(1) Recognition principles for capitalization of borrowing costs

If the borrowing costs incurred by the company can be directly attributed to the purchase, construction or production of assets that meet the capitalization conditions, they will be capitalized and included in the cost of the relevant assets; other borrowing costs will be recognized as expenses based on the amount incurred when they are incurred and included in the current profits and losses. Assets that meet the conditions for capitalization refer to fixed assets, investment real estate, inventories and other assets that require a considerable period of acquisition, construction or production activities to reach the intended usable or salable state.

(2) Calculation method of capitalization amount

The capitalization period refers to the period from the point when capitalization of borrowing costs begins to the point when capitalization stops. The period during which capitalization of borrowing costs is suspended is not included. If an abnormal interruption occurs during the purchase, construction or production process and the interruption lasts for more than 3 months, the capitalization of borrowing costs shall be suspended.

Borrowing of special borrowings shall be determined based on the actual interest expense of the special borrowings in the current period, minus the interest income obtained from depositing unused borrowed funds in the bank or the investment income obtained from temporary investments; the amount of general borrowings shall be determined based on the excess of accumulated asset expenditures over the special borrowings. The weighted average of asset expenditures is calculated and determined by multiplying the capitalization rate of the general borrowings occupied, and the capitalization rate is the weighted average interest rate of the general borrowings; if there is a discount or premium on the borrowing, the amount of discount or premium that should be amortized in each accounting period is determined according to the actual interest rate method, and the interest amount of each period is adjusted.

The effective interest rate method is a method of calculating the amortized discount or premium or interest expense based on the actual interest rate of the borrowed money. The actual interest rate is the future cash flow of the loan during the expected duration, and is the interest rate used to discount the current book value of the loan.

Intangible assets

(1) Useful life and its basis for determination, estimation, amortization method or review procedure

Valuation method of intangible assets

The Company's intangible assets are initially measured at cost. The actual cost of purchased intangible assets is based on the actual price paid and related expenditures. The actual cost of intangible assets invested by investors shall be determined based on the value stipulated in the investment contract or agreement. However, if the value stipulated in the contract or agreement is unfair, the actual cost shall be determined based on the fair value. For self-developed intangible assets, the cost is the total expenditure incurred before reaching the intended use.

Useful life and its determination basis, estimation, amortization method or review procedure

Intangible assets with limited service life are amortized as shown in the table below. At the end of the year, the service life and amortization method of the intangible assets are reviewed. If there are differences with the original estimates, corresponding adjustments are made. Intangible assets with indefinite service life are not amortized, but at the end of the year, the service life is reviewed. When there is conclusive evidence that its service life is limited, its service life is estimated.

The useful life of an intangible asset with a limited useful life and its determination basis and amortization method:

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Asset category Useful life (years) Basis for determining the useful life Amortization method software 3 Determine the useful life with reference to the period that can bring economic benefits to the company Straight-line method

Land use rights 50 Legal use rights Straight-line method

Patent rights 10-20 Statutory rights of use Straight-line method

The company will determine the intangible assets that cannot foresee the period during which the assets will bring economic benefits to the company, or whose useful life is uncertain, as intangible assets with indefinite useful lives. The basis for judging the uncertain service life is: it comes from contractual rights or other legal rights, but there is no clear service life in the contract or legal provisions; based on the situation in the same industry or the argumentation of relevant experts, it is still impossible to judge the period during which the intangible assets can bring economic benefits to the company.

At the end of each year, the service life of intangible assets with indefinite service life is reviewed, mainly in a bottom-up manner, with the relevant departments for the use of intangible assets conducting a basic review to evaluate whether there are changes in the basis for determining the indefinite service life, etc.

(2) Scope of aggregation of R&D expenditures and related accounting treatment methods

The scope of the company's R&D expenditures is mainly determined based on the company's research and development projects, and mainly includes: employee compensation of R&D personnel, direct investment expenses, depreciation expenses, long-term deferred expenses, and other expenses, etc.

Expenditures in the research phase of internal research and development projects are included in the current profit and loss when incurred; expenditures in the development phase that meet the conditions for recognition as intangible assets are transferred to intangible assets accounting.

Specific criteria for dividing the research stage and development stage of internal research and development projects: the stage of planned investigation to obtain new technologies and knowledge should be determined as the research stage, which has the characteristics of planning and exploratory nature; the stage of applying research results or other knowledge to a plan or design to produce new or substantially improved materials, devices, products, etc. before commercial production or use should be determined as the development stage, which has the characteristics of being targeted and having a greater possibility of producing results.

Expenditures in the development phase of internal research and development projects are recognized as intangible assets when the following conditions are met: 1) It is technically feasible to complete the intangible asset so that it can be used or sold; 2) There is the intention to complete the intangible asset and use or sell it; 3) The way in which the intangible asset generates economic benefits includes being able to prove that the use of the intangible asset can be used to generate economic benefits. There is a market for the products produced or the intangible asset itself has a market, and the intangible asset will be used internally and its usefulness can be proven; 4) It has sufficient technical, financial and other resource support to complete the development of the intangible asset, and has the ability to use or sell the intangible asset; 5) The expenditures attributable to the development stage of the intangible asset can be measured reliably.

If it is impossible to distinguish between expenditures in the research stage and expenditures in the development stage, all R&D expenditures incurred will be included in the current profit and loss.

Impairment of long-term assets

If there are signs of impairment on the balance sheet date for long-term equity investments, investment real estate, fixed assets, projects under construction, right-of-use assets measured using the cost model, productive biological assets measured using the cost model, oil and gas assets, intangible assets and other long-term assets on the balance sheet date, an impairment test is conducted. If the impairment test results show that the recoverable amount of the asset is lower than its book value, impairment provisions will be made based on the difference and included in the impairment loss.

The recoverable amount is the higher of the asset's fair value less disposal costs and the present value of the asset's expected future cash flows. Asset impairment provisions are calculated and recognized on the basis of individual assets. If it is difficult to estimate the recoverable amount of an individual asset, the recoverable amount of the asset group to which the asset belongs is determined. An asset group is the smallest combination of assets that can independently generate cash inflows.

Goodwill that is presented separately in the financial statements shall be tested for impairment at least annually, regardless of whether there is any indication of impairment. During impairment testing, the book value of goodwill is allocated to asset groups or combinations of asset groups that are expected to benefit from the synergies of a business combination. If the test results show that the recoverable amount of an asset group or combination of asset groups containing amortized goodwill is lower than its book value, the corresponding impairment loss will be recognized. The amount of impairment loss first deducts the book value of the goodwill allocated to the asset group or asset group combination, and then deducts the book value of other assets in proportion to the proportion of the book value of other assets in the asset group or asset group combination except goodwill.

Once the above-mentioned asset impairment losses are recognized, the portion whose value has been restored will not be reversed in subsequent periods.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Long-term deferred expenses

The company's long-term deferred expenses refer to various expenses that have been incurred but have a benefit period of more than one year (excluding one year). Long-term deferred expenses are amortized in installments according to the benefit period of the expense item. If a long-term deferred expense item cannot benefit future accounting periods, all the amortized value of the item that has not been amortized will be transferred to the current profit and loss.

Contract liabilities

The Company lists the obligation to transfer goods or provide services to customers for consideration received or receivable from customers as contract liabilities, and contract assets and contract liabilities under the same contract are presented as a net amount.

Employee compensation

(1) Accounting treatment method for short-term compensation

During the accounting period when employees provide services to the company, the actual short-term compensation is recognized as a liability and included in the current profit and loss, except where the accounting standards for enterprises require or allow it to be included in the cost of assets. The employee welfare expenses incurred by the company shall be included in the current profit and loss or related asset costs according to the actual amount when they are actually incurred. If employee benefits are non-monetary benefits, they are measured at fair value. The company pays social insurance premiums such as medical insurance premiums, work-related injury insurance premiums, maternity insurance premiums, and housing provident funds for its employees, as well as labor union funds and employee education funds withdrawn in accordance with regulations. During the accounting period when employees provide services, the corresponding amount of employee compensation is determined based on the prescribed accrual basis and accrual ratio, and the corresponding liabilities are recognized and included in the current profit and loss or related asset costs.

(2) Accounting treatment of post-employment benefits

During the accounting period when employees provide services, the company recognizes the deposit amount payable based on the defined contribution plan as a liability and includes it in the current profit and loss or related asset costs. According to the formula determined by the expected cumulative welfare unit method, the welfare obligations generated by the defined benefit plan are attributed to the period during which the employees provide services, and are included in the current profit and loss or related asset costs.

(3) Accounting treatment method for dismissal benefits

When the company provides dismissal benefits to employees, the employee compensation liabilities arising from the dismissal benefits are recognized at the earliest of the following two times and included in the current profit and loss: when the company cannot unilaterally withdraw the dismissal benefits provided due to the termination of labor relations plan or layoff proposal; when the company recognizes the costs or expenses related to the restructuring involving the payment of dismissal benefits.

(4) Accounting treatment methods for other long-term employee benefits

Other long-term employee benefits provided by the company to employees that meet the conditions of the defined contribution plan shall be handled in accordance with the relevant provisions of the defined contribution plan; in addition, other long-term employee benefits net liabilities or net assets shall be recognized and measured in accordance with the relevant provisions of the defined benefit plan.

Estimated liabilities

When the obligation related to a contingency is a current obligation borne by the company, and the performance of the obligation is likely to result in an outflow of economic benefits, and the amount can be measured reliably, the obligation is recognized as a provisional liability. The company makes initial measurement based on the best estimate of the expenditures required to fulfill relevant current obligations. If the required expenditures exist in a continuous range and the likelihood of various outcomes within the range is the same, the best estimate is determined based on the mid-range value within the range; if multiple projects are involved, the best estimate is determined based on various possible outcomes and related probabilities.

The book value of estimated liabilities should be reviewed on the balance sheet date. If there is conclusive evidence that the book value cannot truly reflect the current best estimate, the book value should be adjusted based on the current best estimate.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Share-based payment

The Company's share-based payment includes equity-settled share-based payment and cash-settled share-based payment. If equity-settled share-based payment is exchanged for services provided by employees, it shall be measured at the fair value of the equity instruments granted to employees. If there is an active market, it will be determined based on the quoted price in the active market; if there is no active market, it will be determined using valuation techniques, including referring to prices used in recent market transactions by parties who are familiar with the situation and voluntarily transacting, referring to the current fair value of other financial instruments that are substantially the same, discounted cash flow methods and option pricing models, etc.

On each balance sheet date, the number of stock options expected to be exercisable is revised based on the latest changes in the number of exercisable persons, the completion of performance indicators and other subsequent information, and the expenses to be allocated in each period are confirmed based on this basis. For option expenses that span multiple accounting periods, the expense can generally be amortized based on the proportion of the length of the waiting period of the option in a certain accounting period to the length of the entire waiting period.

Income

Disclose accounting policies adopted for revenue recognition and measurement by business type

When the company fulfills its performance obligations in the contract, that is, when the customer obtains control of the relevant goods or services, revenue is recognized based on the transaction price allocated to the performance obligation. Obtaining control over relevant goods means being able to direct the use of the goods and obtain almost all economic benefits from them. Performance obligations refer to the company's commitment in the contract to transfer clearly distinguishable goods to the customer. The transaction price refers to the amount of consideration that the Company expects to be entitled to receive for transferring goods to customers, excluding amounts collected on behalf of third parties and amounts that the Company expects to return to customers.

Whether the performance obligation is performed within a certain period of time or at a certain point in time depends on the terms of the contract and relevant legal provisions. If the performance obligation is performed within a certain period of time, the company recognizes revenue based on the performance progress. Otherwise, the Company recognizes revenue at a point when the customer obtains control of the relevant assets.

The company determines whether the company is the principal responsible person or agent when engaging in transactions based on whether it has control over the goods or services before transferring them to the customer. If the company is able to control the goods or services before transferring them to the customer, the company is the principal responsible person and recognizes revenue based on the total consideration received or receivable; otherwise, the company acts as the agent and recognizes revenue based on the amount of commissions or fees that it is expected to be entitled to receive. The amount is determined based on the net amount of the total consideration received or receivable after deducting the price payable to other related parties, or based on the established commission amount or ratio.

The company’s specific principles and measurement methods for revenue recognition based on business types:

The company's business of selling pharmaceutical products usually only includes the transfer of performance obligations for the goods. When the goods have been shipped and the customer's arrival confirmation letter is received, the control of the goods is transferred, and the company recognizes the realization of revenue at that point.

Similar business adopts different business models and involves different revenue recognition methods and measurement methods.

Contract costs

Contract costs include incremental costs incurred to obtain the contract and contract performance costs. The incremental costs incurred to obtain a contract ("contract acquisition costs") are costs that would not have been incurred had the contract not been obtained. If the cost is expected to be recovered, the company will recognize it as the contract acquisition cost and as an asset.

Costs incurred to fulfill the contract, which do not fall within the scope of inventory and other accounting standards for enterprises and meet the following conditions, are recognized as contract performance costs as an asset: the cost is directly related to a current or expected contract, including direct labor, direct materials, manufacturing expenses (or similar expenses), costs clearly borne by the user, and other costs incurred solely because of the contract; the cost increases the resources used to perform performance obligations in the future; the cost is expected to be recovered. The company will recognize the contract performance costs as assets. If the amortization period does not exceed one year or one normal operating cycle at the time of initial recognition, it will be included in the "inventory" item in the balance sheet; if the amortization period is more than one year or one normal operating cycle at the time of initial recognition, it will be included in the "other non-current assets" item in the balance sheet. The company will recognize the contract acquisition costs as assets. If the amortization period does not exceed one year or one normal operating cycle at the time of initial recognition, it will be included in the "other current assets" item in the balance sheet; if the amortization period is more than one year or one normal operating cycle at the time of initial recognition, it will be included in the "other non-current assets" item in the balance sheet.

The Company amortizes the assets recognized as contract acquisition costs and contract performance costs on the same basis as the recognition of commodity revenue related to the assets, and includes them in the current profit and loss. If the amortization period of the assets formed by the incremental cost of acquiring the contract does not exceed one year, it shall be included in the current profit and loss when incurred.

When the book value of assets related to contract costs is higher than the difference between the following two items, the company will make provision for impairment and recognize the excess as asset impairment losses: the remaining consideration expected to be obtained from the transfer of the goods related to the asset; the estimated cost to be incurred for the transfer of the related goods.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

If the factors of impairment in the previous period subsequently change, causing the difference between the two aforementioned items to be higher than the book value of the asset, the asset impairment provision that has been originally accrued should be reversed and included in the current profit and loss, but the book value of the asset after reversal shall not exceed the book value of the asset on the date of reversal if no impairment provision is made.

Government subsidies

(1) Types and accounting treatment of government subsidies

Government subsidies refer to the monetary assets or non-monetary assets that the company obtains from the government for free (but does not include the capital invested by the government as the owner). If government subsidies are monetary assets, they shall be measured according to the amount received or receivable. If the government subsidy is a non-monetary asset, it shall be measured at fair value; if the fair value cannot be obtained reliably, it shall be measured at the nominal amount.

Government subsidies related to daily activities shall be included in other income according to the economic business essence. Government subsidies unrelated to daily activities are included in non-operating income.

Government documents that clearly stipulate that government subsidies are used to purchase, construct or otherwise form long-term assets are recognized as asset-related government subsidies. If government documents do not clearly stipulate the subsidy objects, asset-related government subsidies are recognized as deferred income. The amount recognized as deferred income shall be included in the current profit and loss in installments according to a reasonable and systematic method within the useful life of the relevant assets.

Government subsidies other than those related to assets are recognized as government subsidies related to income. If the income-related government subsidies are used to compensate the enterprise for relevant expenses or losses in the future period, they are recognized as deferred income, and are included in the current profit and loss during the period when the relevant expenses are recognized; if they are used to compensate the enterprise for the relevant expenses or losses that have already occurred, they are directly included in the current profits and losses.

The company obtains policy-based preferential loan interest discounts, and the finance department allocates interest-rate discount funds to the lending bank. If the lending bank provides loans to the company at policy-based preferential interest rates, the actual borrowing amount received is used as the entry value of the loan, and the relevant borrowing costs are calculated based on the loan principal and the policy-based preferential interest rate. If the finance department directly allocates interest discount funds to the company, the company will offset the corresponding interest rate discounts against related borrowing costs.

(2) Time point for confirmation of government subsidy

Government subsidies are recognized when the conditions attached to the government subsidies are met and can be received. Government subsidies measured according to the amount receivable shall be recognized at the end of the period when there is conclusive evidence that the relevant conditions stipulated in the financial support policy can be met and the financial support funds are expected to be received. Government subsidies other than those measured according to the amount receivable shall be recognized when the subsidy is actually received.

Deferred income tax assets/deferred income tax liabilities

(1) Recognition of deferred income tax

Based on the difference between the book value of assets and liabilities and their tax basis (if the tax basis of items not recognized as assets and liabilities can be determined in accordance with tax laws, the tax basis is determined as the difference), deferred income tax assets or deferred income tax liabilities are calculated and recognized according to the applicable tax rate during the period when the asset is expected to be recovered or the liability is settled.

(2) Measurement of deferred income tax

Deferred income tax assets are recognized to the extent that it is probable that taxable income will be available against which deductible temporary differences can be utilised. On the balance sheet date, if there is conclusive evidence that sufficient taxable income is likely to be obtained in the future period to offset the deductible temporary differences, deferred income tax assets that have not been recognized in previous accounting periods will be recognized. If it is likely that sufficient taxable income will not be available in the future to offset the deferred income tax assets, the book value of the deferred income tax assets will be reduced.

Deferred income tax liabilities are recognized for taxable temporary differences related to investments in subsidiaries and associates, unless the company is able to control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not be reversed in the foreseeable future. For deductible temporary differences related to investments in subsidiaries and associates, deferred income tax assets are recognized when the temporary differences are likely to be reversed in the foreseeable future and it is likely to be taxable income that can be used to offset the deductible temporary differences in the future. (3) Basis for net offset of deferred income tax

When the following conditions are met at the same time, the company will present the deferred income tax assets and deferred income tax liabilities as the net amount after offsetting: it has the legal right to settle the current income tax assets and current income tax liabilities on a net basis; the deferred income tax assets and deferred income tax liabilities are for the same taxpayer with the same tax collection department. It is related to the income tax levied by the entity or to different taxable entities, but in the future during each period when important deferred income tax assets and deferred income tax liabilities are reversed, the taxable entity involved intends to settle the current income tax assets and current income tax liabilities with a net amount or to obtain assets and pay off debts at the same time.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Leasing

(1) Accounting treatment method for leasing as lessee

On the start date of the lease period, the Company recognizes right-of-use assets and lease liabilities for leases other than short-term leases and low-value asset leases, and recognizes depreciation expenses and interest expenses respectively during the lease period.

① Right-of-use assets

On the commencement date of the lease term, the right-of-use asset is initially measured at cost. This cost includes the initial measurement amount of the lease liability, the amount of lease payments net of lease incentives paid on or before the lease commencement date, initial direct costs, etc.

If it is reasonably certain that the ownership of the leased asset will be obtained at the expiration of the lease term, depreciation will be accrued over the estimated remaining useful life of the leased asset; if it cannot be reasonably determined, depreciation will be accrued during the shorter of the lease term and the remaining useful life of the leased asset. When the recoverable amount is lower than the book value of the right-of-use asset, its book value is written down to the recoverable amount.

② Lease liabilities

Lease liabilities are initially measured based on the present value of the unpaid lease payments at the beginning of the lease term. Lease payments include fixed payments and amounts payable when it is reasonably certain that the option to purchase or the option to terminate the lease will be exercised. Variable lease payments that are not included in the measurement of lease liabilities are included in the current profit and loss when actually incurred.

The company uses the interest rate implicit in the lease as the discount rate; if the interest rate implicit in the lease cannot be reasonably determined, the company's incremental borrowing rate is used as the discount rate. The interest expense of the lease liability in each period during the lease term is calculated based on a fixed periodic interest rate, that is, the discount rate adopted by the Company or the revised discount rate, and is included in financial expenses.

③As a lessee, the judgment basis and accounting treatment method for simplified treatment of short-term leases and low-value asset leases

For short-term leases with a lease period of no more than 12 months, and low-value assets that choose not to recognize right-of-use assets and lease liabilities, the relevant rental expenses will be included in the current profit and loss or related asset costs on a straight-line basis during each period during the lease term.

(2) Accounting treatment method for leasing as lessor

On the lease commencement date, the Company recognizes leases that transfer substantially all risks and rewards related to the ownership of the leased assets as finance leases, and other leases as operating leases.

Accounting treatment of operating leases

Rental income from operating leases is recognized on a straight-line basis over the lease term. The initial direct costs are capitalized and included in the current income in installments during the lease term on the same recognition basis as rental income. Variable rent that is not included in the lease receipts is included in rental income when it is actually incurred.

Accounting treatment of financial lease

On the lease commencement date, the difference between the sum of the finance lease receivable, the unguaranteed residual value and its present value is recognized as unrealized financing income, and is recognized as lease income in each period in which rent is received in the future, and the financial lease assets are derecognized. Initial direct costs are included in the initial recording value of finance lease receivables.

Other important accounting policies and accounting estimates

Discontinued operations refer to components that meet one of the following conditions, can be individually distinguished, and have been disposed of or classified as held for sale by the company: ① The component represents an independent main business or a separate main operating area; ② The component is part of an associated plan to dispose of an independent main business or an independent main operating area; ③ The component is a subsidiary acquired specifically for resale.

Changes in important accounting policies and accounting estimates

(1) Changes in important accounting policies

□Applicable Not applicable

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

(2) Changes in important accounting estimates

□Applicable Not applicable

(3) Adjustments to relevant items in the financial statements at the beginning of the year when the new accounting standards are implemented for the first time in 2026.

□Applicable Not applicable

6. Taxes

Main tax types and tax rates

Tax type Tax calculation basis Tax rate Value-added tax Calculation of output tax on taxable income 13%, 9%, 6%, 3% Urban maintenance and construction tax Actual payment of turnover tax 7%, 5%

Corporate income tax is based on taxable income 25%, 15%, 30% Education fee surcharge is based on actual turnover tax paid 3%

Local education fee surcharge is based on the actual turnover tax paid 2%

If there are taxpayers with different corporate income tax rates, a description of the disclosure

Name of taxpayer Income tax rate CSPC Hunan Jingfeng Pharmaceutical Co., Ltd. 25%

Shanghai Jingfeng Pharmaceutical Co., Ltd. 15%

Guizhou Jingfeng Injection Co., Ltd. 15%

Guizhou Jingcheng Pharmaceutical Co., Ltd. 15%

Hainan Jinrui Pharmaceutical Co., Ltd. 15%

Shanghai Huayu Medical Investment Management Co., Ltd. 25%

Guizhou Shengjing Meiya Pharmaceutical Co., Ltd. 25%

Yibin Zhonglian Pharmaceutical Co., Ltd. 25%

Guizhou Jingfeng Pharmaceutical Sales Co., Ltd. 25%

Shanghai Qijing Investment Management Co., Ltd. 25%

Shanghai Jingxiu Biotechnology Co., Ltd. 25%

Shanghai Jingyanhe Biotechnology Co., Ltd. 25%

Shanghai Kexin Biomedical Technology Co., Ltd. 25%

Shanghai Ruibosi Biotechnology Co., Ltd. 25%

Shanghai Selaginella Biotechnology Co., Ltd. 25%

Praxgen Pharma 30%

Peterson Athenex Pharmaceuticals,LLC 30%

Changde Jingcheng Pharmaceutical Technology Co., Ltd. 25%

Dalian Deze Pharmaceutical Co., Ltd. 25%

Tax incentives

(1) Shanghai Jingfeng, a subsidiary of the Company, was jointly recognized as a high-tech enterprise by the Shanghai Science and Technology Commission, Shanghai Finance Bureau, and Shanghai Taxation Bureau of the State Administration of Taxation, and obtained the certificate number: GR202331001421 High-tech Enterprise Certificate, which is valid from November 15, 2023 to November 15, 2026.

(2) The Company’s subsidiary Guizhou Jingfeng was jointly recognized as a high-tech enterprise by the Guizhou Provincial Department of Science and Technology, the Guizhou Provincial Department of Finance, and the Guizhou Provincial Taxation Bureau of the State Administration of Taxation, and obtained the certificate number: GR202352000421 high-tech enterprise certificate, which is valid from December 12, 2023 to December 11, 2026.

(3) The company's subsidiary Guizhou Jingcheng was jointly recognized as a high-tech enterprise by the Guizhou Provincial Department of Science and Technology, the Guizhou Provincial Department of Finance, and the Guizhou Provincial Taxation Bureau of the State Administration of Taxation, and obtained the certificate number: GR202452000140 high-tech enterprise certificate, which is valid from December 9, 2024 to December 8, 2027.

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

(4) The company's subsidiary Hainan Jinrui was jointly recognized as a high-tech enterprise by the Hainan Provincial Department of Science and Technology, the Hainan Provincial Department of Finance, and the State Administration of Taxation Hainan Provincial Taxation Bureau, and obtained the certificate number: GR202346000009 High-tech Enterprise Certificate, which is valid from November 15, 2023 to November 14, 2026.

7. Notes on Consolidated Financial Statement Items

Monetary funds

Unit: Yuan

Item Ending balance Beginning balance

Bank deposits 1,401,262,783.48 37,484,681.51 Other monetary funds 28,959,911.40 38,113,944.82 Total 1,430,222,694.88 75,598,626.33

Including: Total amount deposited abroad 9,701,037.38 10,961,529.02Other instructions

The company's restricted use right funds at the end of the period were 28,959,911.40 yuan, including 3,959,911.40 yuan of litigation-frozen funds and 25,000,000.00 yuan of funds in the manager's account.

Trading financial assets

Unit: Yuan

Item Ending balance Beginning balance

Measured at fair value with changes included in current profit and loss

223,210,634.46

beneficial financial assets

Among them:

Including: Bank structured deposits 223,210,634.46

Among them:

Total 223,210,634.46 0.00

Notes receivable

(1) Classified presentation of notes receivable

Unit: Yuan

Item Ending balance Beginning balance

Bank acceptance notes 22,203,498.60 16,355,373.97 Total 22,203,498.60 16,355,373.97

(2) Classified disclosure according to bad debt accrual method

Unit: Yuan Ending balance Beginning balance

Book balance Provision for bad debts Book balance Provision for bad debts

Category Book price Book price provision ratio Provision ratio

Amount Ratio Amount Value Amount Ratio Amount Value

Example Example

By item

10,020, 10,020,

Bad provision 37.99% 100.00%

000.00 000.00

Account preparation

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

receivables

bill

its

Medium:

by combination

bad provision

22,203, 22,203, 16,355, 16,355, Account provision 100.00% 62.01%

498.60 498.60 373.97 373.97 receivables

bill

its

Medium:

combination

1: Bank 22,203, 22,203, 16,355, 16,355,

100.00% 62.01%

Acceptance 498.60 498.60 373.97 373.97 votes

22,203, 22,203, 26,375, 10,020, 16,355, total 100.00% 100.00% 37.99%

498.60 498.60 373.97 000.00 373.97 Category name of bad debt provision for individual items:

Unit: Yuan Beginning balance Ending balance

Name

Book balance Bad debt provision Book balance Bad debt provision Provision ratio Reason for provision Bank acceptance bill 10,020,000.00 10,020,000.00

Total 10,020,000.00 10,020,000.00

If bad debt provisions for notes receivable are made according to the general expected credit loss model:

□Applicable Not applicable

(3) Bad debt provisions accrued, recovered or reversed in the current period

Bad debt provisions for the current period:

Unit: Yuan Amount of changes in the current period

Category Beginning Balance Ending Balance

Provision Recovery or transfer Write-off Others

Bad debts of notes receivable 10,020,000.00 10,020,000.00 0.00Total 10,020,000.00 10,020,000.00 0.00Among them, the amount of recovery or reversal of bad debt provisions in the current period is important:

□Applicable Not applicable

(4) Notes receivable that have been endorsed or discounted by the company at the end of the period and have not yet matured on the balance sheet date

Unit: Yuan

Item Amount derecognized at the end of the period Amount not derecognized at the end of the period

Bank acceptance notes 16,415,365.06 18,038,231.92 Total 16,415,365.06 18,038,231.92

(5) Notes receivable actually written off in the current period

Unit: Yuan

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Item Write-off Amount

Bank acceptance bill 10,020,000.00 Notes receivable write-off instructions:

In 2018, the company's subsidiary Guizhou Jingfeng brought some of its due bank acceptance bills to the bank where the account was opened for acceptance. The bank business manager reported to the company that the relevant bills (a total of 10.02 million yuan) were lost during the acceptance process. Due to the delay in payment of the relevant bills, out of consideration of the principle of financial prudence, the company made a full provision for bad debts for the uncollected bills in 2020. In 2024, Guizhou Jingfeng has filed a lawsuit against the Guiyang Yunyan Branch of the Industrial and Commercial Bank of China Co., Ltd., the Guiyang Branch of the Industrial and Commercial Bank of China Co., Ltd., and the Guiyang Zhonghua Road Branch of the Industrial and Commercial Bank of China Co., Ltd., requesting the relevant banks to compensate for losses. The company's repeated appeals have failed to receive support from the court and are not expected to be recovered. The company has written it off.

Accounts receivable

(1) Disclosure based on aging

Unit: Yuan

Aging Book balance at the end of the period Book balance at the beginning of the period

Within 1 year (including 1 year) 66,546,872.53 51,679,733.13 1 to 2 years 1,752,976.70 5,030,707.85 2 to 3 years 3,357,739.89 4,632,828.23 More than 3 years 15,140,941.54 12,398,422.85 3 to 4 years 4,331,190.80 3,389,447.40 4 to 5 years 2,469,180.50 5,492,162.19

More than 5 years 8,340,570.24 3,516,813.26 Total 86,798,530.66 73,741,692.06

(2) Classified disclosure according to bad debt accrual method

Unit: Yuan Ending balance Beginning balance

Book balance Provision for bad debts Book balance Provision for bad debts

Category Book price Book price provision ratio Provision ratio

Amount Ratio Amount Value Amount Ratio Amount Value Example

its

Medium:

by combination

bad provision

86,798, 29,054, 57,743, 73,741, 28,511, 45,230, Account provision 100.00% 33.47% 100.00% 38.66%

530.66 993.24 537.42 692.06 273.56 418.50 receivables

Accounts

its

Medium:

Credit risk 86,798, 29,054, 57,743, 73,741, 28,511, 45,230,

100.00% 33.47% 100.00% 38.66%

Insurance portfolio 530.66 993.24 537.42 692.06 273.56 418.50

86,798, 29,054, 57,743, 73,741, 28,511, 45,230, total 100.00% 33.47% 100.00% 38.66%

530.66 993.24 537.42 692.06 273.56 418.50 Category name of bad debt provisions accrued by combination: Disclosure by age

Unit: Yuan

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Ending balance

Name

Book balance Bad debt provision Provision ratio

Within 1 year 66,546,872.53 9,416,876.96 14.15% 1 to 2 years 1,752,976.30 1,139,434.59 65.00% 2 to 3 years 3,357,740.29 3,357,740.15 100.00% 3 to 4 years 4,331,190.80 4,331,190.80 100.00% 4 to 5 years 2,369,188.50 2,369,188.50 100.00% More than 5 years 8,440,562.24 8,440,562.24 100.00% Total 86,798,530.66 29,054,993.24

Description of what this combination is based on:

If bad debt provisions for accounts receivable are made according to the general expected credit loss model:

□Applicable Not applicable

(3) Bad debt provisions accrued, recovered or reversed in the current period

Bad debt provisions for the current period:

Unit: Yuan

Amount of changes in the current period

Category Beginning Balance Ending Balance

Provision Recovery or transfer Write-off Others

Bad debts in accounts receivable

28,511,273.56 1,379,387.42 245,444.05 395,236.42 -194,987.27 29,054,993.24Preparation

Total 28,511,273.56 1,379,387.42 245,444.05 395,236.42 -194,987.27 29,054,993.24

(4) Accounts receivable actually written off in the current period

Item Write-off Amount

Accounts receivable actually written off 395,236.42

(5) Accounts receivable and contract assets with the top five closing balances collected by debtors

Unit: Yuan accounts receivable and combined accounts receivable, bad debts, quasi-accounts receivable, ending balance, contract assets, ending balance, accounts receivable and contracts

Unit name Closing balance of same assets Provision and contract asset reduction amount Closing balance of assets

Proportion of total amount Value provision ending balance Dalian Jingang 10,782,654.33 10,782,654.33 12.42% 536,383.72 Beijing Jiuzhoutong Pharmaceutical

10,738,715.32 10,738,715.32 12.37% 536,935.77 Co., Ltd.

Sinopharm Holdings Lianyungang

7,626,168.87 7,626,168.87 8.79% 7,626,168.87 Co., Ltd.

Anhui Tianchun Pharmaceutical Co., Ltd.

4,458,611.20 4,458,611.20 5.14% 1,069,370.56 Co., Ltd.

CSPC Zhongcheng Medicine 4,212,194.55 4,212,194.55 4.85% 210,609.73 Total 37,818,344.27 37,818,344.27 43.57% 9,979,468.65

Other receivables

Unit: Yuan

Item Ending balance Beginning balance

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Dividends receivable 20,156,771.27 20,156,771.27 Other receivables 56,448,795.28 64,523,373.48 Total 76,605,566.55 84,680,144.75

(1) Dividends receivable

Classification of dividends receivable

Unit: Yuan

Project (or invested unit) Closing balance Opening balance

Dalian Golden Port 20,156,771.27 20,156,771.27 Total 20,156,771.27 20,156,771.27

(2) Other receivables

Classification of other receivables according to nature of payment

Unit: Yuan

Nature of payment Book balance at the end of the period Book balance at the beginning of the period

Equity acquisition amount 19,300,000.00 19,300,000.00 Funds to be distributed 47,499,250.76 55,843,581.77 Personal reserve loan 1,142,640.53 1,588,231.10 Rent and deposit 1,059,355.22 1,122,410.92 Unit transactions 11,386,342.59 10,101,590.54 Others 2,806,769.47 2,265,029.57 Total 83,194,358.57 90,220,843.90

Disclosure based on aging

Unit: Yuan

Aging Book balance at the end of the period Book balance at the beginning of the period

Within 1 year (including 1 year) 54,064,953.65 59,413,883.67 1 to 2 years 2,775,799.50 2,246,471.60 2 to 3 years 999,919.47 3,162,780.91 More than 3 years 25,353,685.95 25,397,707.72 3 to 4 years 2,714,705.95 1,747,103.03 4 to 5 years 750,201.27 848,870.89

More than 5 years 21,888,778.73 22,801,733.80 Total 83,194,358.57 90,220,843.90

Classified disclosure according to bad debt accrual method

Applicable □Not applicable

Unit: Yuan Ending balance Beginning balance

1. Joint ventures

2. Joint ventures

Shanghai Fang Nan 93,11

93,115,

Biotechnology 5,705

705.03

Co., Ltd. 03Shanghai Kangjing

4,3

Equity investment - 4,395 75,89

97, 75,894,

Fund partnership 1,090,983. 4,365

074 365.93

Enterprises (have .90 80 .93

.70

limited partnership)

Shanghai Jinyu

3,4

Venture capital - 3,431 16,53

41, 16,530,

Partnership 9,878,129. 0,558

008 558.87

(finite total .90 90 .87

.80

Guy)

Shenzhen Medical

22,62Yikang Yunxin 22,624,

4,802 Information Technology has 802.76

.76 Co., Ltd.

Tianjin Landan 15,

Business Management 018 - 14,84

Consulting Partnership ,31 173,4 4,890

Enterprise (has 2.8 22.89 .00

limited partnership) 9

28,

437 28,98

545,7

Changde Jingze ,37 3,154

79.92

4.9 .83

51,

293 51,65 208,1

208,165 361,3

Subtotal ,77 5,158 65,43 ,432.59 87.23

1.3 .53 2.59

51,

293 51,65 208,1

208,165 361,3

Total ,77 5,158 65,43 ,432.59 87.23

1.3 .53 2.59

The recoverable amount is determined as the net amount after fair value minus disposal costs.

□Applicable Not applicable

The recoverable amount is determined based on the present value of expected future cash flows.

□Applicable Not applicable

Fixed assets

Unit: Yuan

Item Ending balance Beginning balance

Fixed assets 232,308,322.14 237,253,391.27 Total 232,308,322.14 237,253,391.27

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

(1) Fixed assets

Unit: Yuan

Items Houses and buildings Machinery and equipment Electronic equipment Transportation equipment Other equipment Total

1. Original books

Value:

Balance at the beginning of the period 268,955,084. 293,861,659. 21,741,354.2 11,057,869.9 24,638,604.6 620,254,573. Amount 45 79 5 1 1 01 2. Increase in this period

27,811.51 476,230.19 767,159.52 273,929.21 85,322.60 1,630,453.03 plus amount

(1) Purchase 27,811.51 560,421.31 767,159.52 273,929.21 89,051.31 1,718,372.86 (2) Construction in progress

process transfer

(3) Enterprise cooperation

and increase

(4) Exchange rate impact

-84,191.12 -3,728.71 -87,919.83 rings

Less for this period

1,104,902.77 59,212.57 995,941.50 200,234.80 2,360,291.64 Small amount

(1) Disposal or

1,104,902.77 59,212.57 995,941.50 200,234.80 2,360,291.64Scrap

Ending balance 268,982,895. 293,232,987. 22,449,301.2 10,335,857.6 24,523,692.4 619,524,734. Amount 96 21 0 2 1 40

2. Accumulated depreciation

Opening balance 91,883,727.6 161,404,994. 21,074,656.0 18,856,189.9 297,683,961.

4,464,394.11

Amount 0 21 8 9 99 2. Increase in this period

2,684,025.73 2,815,668.66 475,882.59 118,299.21 139,255.44 6,233,131.63 plus amount

(1) Provision 2,684,025.73 2,899,750.83 475,882.59 118,299.21 142,875.20 6,320,833.56 (2) Exchange rate impact

-84,082.17 -3,619.76 -87,701.93 ring

Less for this period

1,007,773.63 56,251.96 754,769.81 185,641.18 2,004,436.58 Small amount

(1) Disposal or

1,007,773.63 56,251.96 754,769.81 185,641.18 2,004,436.58Scrap

Ending balance 94,567,753.3 163,212,889. 21,494,286.7 18,809,804.2 301,912,657.

3,827,923.51

3 24 1 5 04

3. Impairment provision

Balance at the beginning of the period 80,310,960.9 85,317,219.7

1,380,317.53 41,936.53 328,113.64 3,255,891.12

Amount 3 5

2.Increase in this period

Add amount

(1) Provision

Less for this period

11,110.57 91.03 2,262.93 13,464.53 Less amount

(1) Disposal or 11,110.57 91.03 2,262.93 13,464.53

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

scrap

Ending balance 80,299,850.3 85,303,755.2

1,380,317.53 41,845.50 328,113.64 3,253,628.19

Um 6 2

4. Book value

Closing accounts 173,034,825. 49,720,247.6 232,308,322.

913,168.99 6,179,820.47 2,460,259.97

Face value 10 1 14 2. Opening account 175,691,039. 52,145,704.6 237,253,391.

624,761.64 6,265,362.16 2,526,523.50

Face value 32 5 27

(2) Temporarily idle fixed assets

Unit: Yuan

Item Original book value Accumulated depreciation Impairment provision Book value Remarks Machinery and equipment 163,803,670.83 75,095,623.68 68,841,473.03 19,866,574.12

Total 163,803,670.83 75,095,623.68 68,841,473.03 19,866,574.12

(3) Fixed assets whose property rights certificates have not been obtained

Unit: Yuan

Item Book value Reason for not completing the property rights certificate

Administrative training and storage center 55,666,980.70 The land for this part of the house is land in the back hill. The use cannot be confirmed, and the property rights cannot be processed for the time being. Expert Building 15,315,267.80 The land for this part of the house is the land in the back hill. The use cannot be confirmed and the property rights cannot be processed for the time being. Total 70,982,248.50

(4) Impairment testing of fixed assets

□Applicable Not applicable

Projects under construction

Unit: Yuan

Item Ending balance Beginning balance

Construction in progress 80,314,921.06 72,987,991.81 Total 80,314,921.06 72,987,991.81

(1) Projects under construction

Unit: Yuan Ending balance Beginning balance

Project

Book balance Impairment provision Book value Book balance Impairment provision Book value Newly built R&D center 50,987,310.2 48,053,800.0 50,987,310.2 48,053,800.0

2,933,510.20 2,933,510.20

Projects 0 0 0 0International solid preparations 24,832,067.2 24,832,067.2 24,832,067.2 24,832,067.2 Engineering projects 8 8 8 8Sporadic projects 7,429,053.78 7,429,053.78 102,124.53 102,124.53

83,248,431.2 80,314,921.0 75,921,502.0 72,987,991.8 Total 2,933,510.20 2,933,510.20

6 6 1 1

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

(2) Changes in important projects under construction during the current period

Unit: Yuanqi

Engineering

Interest in this period:

Current period Cumulative Current period

Capital transferred in this period This period

Project Budget Beginning of Period Others End of Period Investment Project Interest Funds

Increase fixed accumulated interest

Name Number Balance Decrease Balance Accounting for Advance Progress Capital Source Amount Asset Accounting Capital

Amount Ratio Conversion rate Amount Conversion fund

Example

New

61,83 50,98 50,98

R&D 97.55

0,477 7,310 7,310 97.55 Other centers %

.06 .20 .20

Project

International

Solid 62,00 24,83 24,83

40.36

Preparations 0,000 2,067 2,067 40.36 Others

Engineering .00 .28 .28

Project

123,8 75,81 75,81

Total 30,47 9,377 9,377

7.06 .48 .48

(3) Provision for impairment of projects under construction in the current period

Unit: Yuan Item Beginning balance Increase in the current period Decrease in the current period Ending balance Reason for provision

Estimated recoverable amount of new R&D center project 2,933,510.20 2,933,510.20

Lower than the total book value 2,933,510.20 2,933,510.20 --

(4) Impairment testing of projects under construction

□Applicable Not applicable

Right-of-use assets

(1) Right-of-use assets

Unit: Yuan

Project Houses and Buildings Total

1. Original book value

Balance at the beginning of the period 10,992,685.37 10,992,685.37 2. Increase in the current period
Decrease amount in the current period 22,720.62 22,720.62 (1) Exchange rate impact 22,720.62 22,720.62 4. Ending balance 10,969,964.75 10,969,964.75

2. Accumulated depreciation

Opening balance 4,962,939.94 4,962,939.94

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Increased amount in this period 619,413.49 619,413.49

(1) Provision 619,413.49 619,413.49

Decrease amount in this period 10,729.18 10,729.18

(1) Disposal

(2) Exchange rate impact 10,729.18 10,729.18 4. Closing balance 5,571,624.25 5,571,624.25

3. Impairment provision

Opening balance
Increase amount in this period

(1) Provision

Reduction amount in this period

(1) Disposal

Ending balance

4. Book value

Book value at the end of the period 5,398,340.50 5,398,340.50 2. Book value at the beginning of the period 6,029,745.43 6,029,745.43
Intangible assets

(1) Intangible assets

Unit: Yuan

Items Land use rights Patent rights Non-patented technology Software and others Total

1. Original book value

Opening balance 48,285,362.25 20,960,084.24 52,272,869.63 8,854,312.10 130,372,628.22 2. Increase in current period

(1) Purchase

set

(2) within

Ministry of R&D

(3) Enterprise

Increase in business mergers

Reduction of funds in this period

(1) place

set

Closing balance 48,285,362.25 20,960,084.24 52,272,869.63 8,854,312.10 130,372,628.22

2. Accumulated amortization

Opening balance 8,865,163.04 11,202,222.62 37,769,394.53 8,353,339.43 66,190,119.62 2. Increase in current period 414,747.36 479,194.80 2,580,281.81 174,294.60 3,648,518.57

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

(1) Count

414,747.36 479,194.80 2,580,281.81 174,294.60 3,648,518.57

Reduction of funds in this period

(1) place

set

Closing balance 9,279,910.40 11,681,417.42 40,349,676.34 8,527,634.03 69,838,638.19

3. Impairment provision

Opening balance
Increase the amount of money in this period

(1) Count

mention

Reduction of funds in this period

(1) place

set

Ending balance

4. Book value

Closing book price

39,005,451.85 9,278,666.82 11,923,193.29 326,678.07 60,533,990.03 value

Book price at the beginning of the period

39,420,199.21 9,757,861.62 14,503,475.10 500,972.67 64,182,508.60 value

The proportion of intangible assets formed through the company's internal research and development at the end of the period to the balance of intangible assets is 0.00%

(2) Land use rights for which property rights certificates have not been obtained

Unit: Yuan

Item Book value Reason for not completing the property rights certificate Land corresponding to Guizhou Jingfeng Administration Building and Expert Building 6,321,299.02 Still in process

The land parcel held by Jingfeng Pharmaceutical in Wudang District, Guiyang 26,872,125.80 is still in process

Total 33,193,424.82

Goodwill

(1) Original book value of goodwill

Unit: yuan Name of invested unit Increase in this period Decrease in this period

Goodwill is called or formed. Balance at the beginning of the period. Business combination form. Disposal of the balance at the end of the period.

The matter is completed

Hainan Jinrui 105,435,252.72 105,435,252.72 Guizhou Jingcheng 208,586,885.77 208,586,885.77 Kexin Biotech 9,023,649.02 9,023,649.02

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

PraxgenPharm

8,442,376.71 8,442,376.71 a,LLC

Total 331,488,164.22 331,488,164.22

(2) Goodwill impairment provision

Unit: yuan Name of invested unit Increase in this period Decrease in this period

Goodwill is called or formed. Balance at the beginning of the period. Balance at the end of the period. Provision for disposal.

matters

Hainan Jinrui 105,435,252.72 105,435,252.72 Guizhou Jingcheng 208,586,885.77 208,586,885.77 Kexin Biotech 9,023,649.02 9,023,649.02 PraxgenPharm

8,442,376.71 8,442,376.71 a,LLC

Total 331,488,164.22 331,488,164.22

Long-term deferred expenses

Unit: Yuan

Item Beginning balance Increase in the current period Amortization amount in the current period Other decreases Ending balance Long-term asset improvement expenses 4,396,724.72 2,014,694.34 253,639.26 6,157,779.80 Total 4,396,724.72 2,014,694.34 253,639.26 6,157,779.80

Deferred income tax assets/deferred income tax liabilities

(1) Deferred income tax assets without offset

Unit: Yuan Ending balance Beginning balance

Project

Deductible temporary differences Deferred income tax assets Deductible temporary differences Deferred income tax assets Asset impairment provision 8,928,715.89 1,442,433.58 9,025,873.72 1,457,007.26 Credit impairment losses 7,264,422.01 1,246,427.87 6,973,364.33 1,046,004.64 Estimated liabilities 4,404,994.26 503,984.57 5,943,472.53 891,520.89 Lease liabilities 5,261,303.98 826,975.04 5,724,785.69 897,705.97 Total 25,859,436.14 4,019,821.06 27,667,496.27 4,292,238.76

(2) Deferred income tax liabilities without offset

Unit: Yuan Ending balance Beginning balance

Project

Taxable temporary differences Deferred income tax liabilities Taxable temporary differences Deferred income tax liabilities right-of-use assets 4,818,606.68 763,787.58 5,300,345.58 837,360.02Total 4,818,606.68 763,787.58 5,300,345.58 837,360.02

(3) Deferred income tax assets or liabilities presented on a net basis after offsetting

Unit: Yuan

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Deferred income tax assets and liabilities Deferred income tax assets and liabilities after offset Deferred income tax assets and liabilities Deferred income tax items after offset

Offset amount at the end of the debt period Ending balance of assets or liabilities Offset amount at the beginning of the debt period Deferred income tax assets 759,794.08 3,260,026.98 4,292,238.76 Deferred income tax liabilities 759,794.08 3,993.50 837,360.02

(4) Details of deferred income tax assets not recognized

Unit: Yuan

Item Ending balance Beginning balance

Deductible temporary differences 186,159,949.91 186,427,670.44 Deductible losses 669,131,352.40 660,106,635.76 Total 855,291,302.31 846,534,306.20

(5) Deductible losses that have not been recognized as deferred income tax assets will expire in the following years

Unit: Yuan

Year Ending amount Beginning amount Remarks

2026 132,647,084.15 132,647,084.15

2027 61,163,423.63 127,195,441.00

2028 196,051,227.18 196,051,227.18

2029 67,798,516.35 67,798,516.35

2030 211,471,101.09 136,414,367.08

Total 669,131,352.40 660,106,635.76

Other non-current assets

Unit: Yuan Ending balance Beginning balance

Project

Book balance Impairment provision Book value Book balance Impairment provision Book value Prepaid equipment payment 19,290,574.31 135,000.00 19,155,574.31 10,285,620.22 135,000.00 10,150,620.22Total 19,290,574.31 135,000.00 19,155,574.31 10,285,620.22 135,000.00 10,150,620.22

Assets whose ownership or use rights are restricted

Unit: End of the period Beginning of the period

Project

Book balance Book value Restriction type Restriction situation Book balance Book value Restriction type Restriction situation Litigation freeze Litigation freeze Freeze, management Freeze, management

28,959,91 28,959,91 Settlement and management 38,113,94 38,113,94 Settlement and management of monetary funds Manager account Manager account

1.40 1.40 Personal account bank 4.82 4.82 Personal account bank bank deposit bank deposit

bank deposit bank deposit

142,500,2 83,934,75

Fixed assets Mortgage Mortgage loan 25.60 7.56

14,104,59 11,372,51

Intangible assets pledge Pledge loan 6.85 3.16

Pledge for long-term equity 19,971,56 3,441,008

Pledge Bond principal and interest investment 7.67 .80

Payment of guaranteed development expenses 94,012,92 94,012,92 Pledge Pledge is used for

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

3.62 3.62 Bond principal and interest payment guarantee

28,959,91 28,959,91 308,703,2 230,875,1

total

1.40 1.40 58.56 47.96

Short-term borrowing

(1) Classification of short-term loans

Unit: Yuan

Item Ending balance Beginning balance

Mortgage loans 9,761,341.05 Total 9,761,341.05

Derivative financial liabilities

Unit: Yuan

Item Ending balance Beginning balance

Equity repurchase amount 11,874,000.00 11,874,000.00 Total 11,874,000.00 11,874,000.00

Accounts payable

(1) Presentation of accounts payable

Unit: Yuan

Item Ending balance Beginning balance

Within 1 year (including 1 year) 32,171,585.81 56,250,652.07 More than 1 year 27,134,598.70 51,671,141.21Total 59,306,184.51 107,921,793.28

(2) Important accounts payable that are aged more than 1 year or are overdue

Unit: Yuan

Item Closing balance Reason for outstanding or carried forward

Bozhou Shenglong Pharmaceutical Co., Ltd. 2,403,125.29 To be repaid

Guanghan Glass Bottle Co., Ltd. 2,322,590.45 To be repaid

Anguo Renzheng Traditional Chinese Medicine Management Co., Ltd. 2,000,188.50 To be liquidated

Sichuan Nanyao Chuanjiang Pharmaceutical Co., Ltd. 1,592,965.30 To be liquidated

Guiyang Weilong Plastic Co., Ltd. 1,534,752.00 To be repaid

Total 9,853,621.54

Other payables

Unit: Yuan

Item Ending balance Beginning balance

Interest payable 0.00 11,120,395.32 Dividends payable 652,577.98 652,577.98

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Other payables 241,251,443.36 325,687,607.14 Total 241,904,021.34 337,460,580.44

(1) Interest payable

Unit: Yuan

Item Ending balance Beginning balance

Interest payable on short-term borrowings 4,101.84 Corporate bond interest 11,116,293.48 Total 0.00 11,120,395.32

(2) Dividends payable

Unit: Yuan

Item Ending balance Beginning balance

Dividends payable to minority shareholders by Dalian Deze 652,577.98 652,577.98 Total 652,577.98 652,577.98

(3) Other payables

List other payables according to the nature of the payment

Unit: Yuan

Item Ending balance Beginning balance

Current accounts of the company 123,114,016.45 162,820,109.44 Personal accounts payable 62,760,949.38 77,212,064.40 Deposits and security deposits 31,033,764.75 56,307,433.40 Collection and payment 1,163,048.16 1,224,005.04 Others 23,179,664.62 28,123,994.86 Total 241,251,443.36 325,687,607.14

Important other payables aged more than 1 year or overdue

Unit: Yuan

Item Closing balance Reason for outstanding or carried forward

Beijing Haijinge Pharmaceutical Technology Co., Ltd. 36,595,742.50 Proceed as planned

Total 36,595,742.50

Contract liabilities

Unit: Yuan

Item Ending balance Beginning balance

Advance payment 10,415,996.60 15,688,918.07 Total 10,415,996.60 15,688,918.07

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Payable to employees’ salaries

(1) Presentation of employee benefits payable

Unit: Yuan

Item Opening balance Increase in the current period Decrease in the current period Ending balance

Short-term salary 9,014,481.34 27,223,999.45 30,315,628.99 5,922,851.80

2. Post-employment benefits-settings

3,092,844.85 3,092,844.85

Contribution plan

Dismissal benefits 1,209,026.72 2,395,684.78 3,568,141.27 36,570.23 Total 10,223,508.06 32,712,529.08 36,976,615.11 5,959,422.03

(2) Presentation of short-term remuneration

Unit: Yuan

Item Opening balance Increase in the current period Decrease in the current period Ending balance

Salary, bonus, allowance

8,968,959.21 23,694,255.98 26,784,260.80 5,878,954.39 and subsidies

Employee welfare fees 521,364.40 521,364.40
Social insurance premiums 1,809,499.95 1,809,499.95

Among them: medical insurance

1,661,326.12 1,661,326.12

fee

Work injury insurance

130,865.52 130,865.52

fee

maternity insurance

17,308.31 17,308.31

fee

Housing provident fund 958,347.60 958,347.60
Trade union funds and employee education

45,522.13 240,531.52 242,156.24 43,897.41 Education funds

Total 9,014,481.34 27,223,999.45 30,315,628.99 5,922,851.80

(3) Display of defined contribution plan

Unit: Yuan

Item Opening balance Increase in the current period Decrease in the current period Ending balance

Basic pension insurance 2,979,797.04 2,979,797.04
Unemployment insurance premium 113,047.81 113,047.81

Total 3,092,844.85 3,092,844.85

Taxes payable

Unit: Yuan

Item Ending balance Beginning balance

Value-added tax 2,292,615.59 7,614,981.40 Corporate income tax 7,562,915.93 10,463,179.54 Personal income tax 306,139.50 537,703.45

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Urban maintenance and construction tax 139,199.47 266,534.10 Property tax 3,394.09 3,118,779.54 Urban land use tax 41.31 246,576.31 Education surcharge (including local education surcharge) 124,464.99 624,141.03 Other taxes and fees 13,261,835.68 13,266,580.11Total 23,690,606.56 36,138,475.48

Non-current liabilities due within one year

Unit: Yuan

Item Ending balance Beginning balance

Long-term borrowings due within one year 29,531.23 76,180,475.67 Lease liabilities due within one year 1,335,837.01 1,493,026.74 Total 1,365,368.24 77,673,502.41

Other current liabilities

Unit: Yuan

Item Ending balance Beginning balance

Mature bonds payable 184,639,232.00 Output tax to be transferred 1,035,671.54 1,663,082.51 Endorsed but not terminated notes receivable 18,038,231.92 8,510,834.13 Total 19,073,903.46 194,813,148.64

Long-term borrowing

(1) Classification of long-term loans

Unit: Yuan

Item Ending balance Beginning balance

Mortgage loans 76,150,944.44 Guaranteed loans 29,531.23 29,531.23 Long-term loans due within one year -29,531.23 -76,180,475.67

Lease liabilities

Unit: Yuan

Item Ending balance Beginning balance

Lease payments 7,733,791.38 8,538,437.40 Unrecognized financing expenses -963,341.88 -1,162,142.72 Lease liabilities due within one year -1,335,837.01 -1,493,026.74 Total 5,434,612.49 5,883,267.94

Estimated liabilities

Unit: Yuan

Item Ending balance Beginning balance Reason for formation

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Pending litigation 749,592.12 4,651,065.32 Estimated expenses arising from litigation matters Unexecuted loss-making contracts 5,881,000.00 5,881,000.00 Return payments payable for unexecuted expected loss-making contracts 6,476,771.38 6,476,771.38 Estimated losses arising from returned products payable bond liquidated damages 9,337,686.53 Bond penalty payable

Total 13,107,363.50 26,346,523.23

Deferred income

Unit: Yuan Item Beginning balance Increase in the current period Decrease in the current period Ending balance Reasons for formation

Government subsidies related to assets 13,576,268.94 1,788,544.62 11,787,724.32

government subsidies

Total 13,576,268.94 1,788,544.62 11,787,724.32

Share capital

Unit: Yuan Increase or decrease in this change (+, -)

Balance at the beginning of the period Balance at the end of the period Issuance of new shares Bonus shares Conversion of public reserve funds Others Subtotal

416,689,83 879,774,35 879,774,35 1,296,464, total number of shares

4.00 1.00 1.00 185.00Other instructions:

The company prepares consolidated statements in accordance with the principle of reverse acquisition. The amount of equity instruments in the consolidated financial statements should reflect the par value of the shares issued by the legal subsidiary (Shanghai Jingfeng) before the merger and the amount of equity instruments assumed to be newly issued in the process of determining the cost of the business combination. The company completed a major asset reorganization in 2014. In December 2014, it issued an additional 458,509,772 shares to the reorganizer (the original shareholder of Shanghai Jingfeng). After the additional issuance, the share capital was 738,509,772 shares. Among them, the reorganizer holds 458,509,772 shares, accounting for 62.086% of the company's total share capital after the issuance. When preparing the consolidated statements this time, it is assumed that the reorganized party maintains its equal rights and interests in the company in the post-merger reporting entity (that is, the shareholding ratio remains 62.086%). The pre-merger share capital of Shanghai Jingfeng is 171,000,000 yuan. Therefore, it is necessary to simulate the issuance of additional shares of 104,425,255 shares. After the additional issuance, the total share capital of Shanghai Jingfeng is 275,425,255 yuan, which is listed as an equity item in the consolidated financial statements. The simulated additional issuance amount is correspondingly reduced by a capital reserve of 104,425,255.00 yuan. The total equity amount of Shanghai Jingfeng after the simulated additional issuance shall be used as the equity amount in the company's consolidated statements. In February 2015, according to the resolution of the company's second extraordinary general meeting of shareholders in 2013 and the "Reply on Approving the Major Asset Reorganization of Hunan Tianyi Technology Co., Ltd. and the Issuance of Shares to Ye Xiangwu to Purchase Assets and Raise Supporting Funds" (CSRC Permit [2014] No. 1228) issued by the China Securities Regulatory Commission, the company non-publicly issued 61,285,09 ordinary shares to specific investors who met the relevant conditions. 3 shares, the issuance price per share is 14.51 yuan, and the total funds raised are 889,246,699.43 yuan. After deducting the issuance-related expenses of 16,106,440.59 yuan, the actual net funds raised The amount was RMB 873,140,258.84, of which RMB 61,285,093 was included in paid-in capital (share capital), and RMB 811,855,165.84 was included in capital reserve-share capital premium. This change has been verified by the capital verification report No. 110431 of Xinhuishebaozi (2015) of Lixin Accounting Firm (Special General Partnership). Subsequent issuance-related expenses of RMB 154,700.45 were incurred, capital reserve-share premium was reduced by RMB 154,700.45, and the net increase in capital reserve-share premium was RMB 811,700,465.39.
According to the 2015 profit distribution plan reviewed and approved by the company’s 2015 Annual General Meeting of Shareholders, based on the company’s total share capital of 799,794,865 shares as of December 31, 2015, a cash dividend of 1 yuan (tax included) will be distributed to all shareholders for every 10 shares, with a total cash dividend of 79,979,486.50 yuan. At the same time, the capital reserve was used to transfer 1 share to all shareholders for every 10 shares, a total of 79,979,486 shares were transferred, and the share capital was increased to RMB 416,689,834.00.
In March 2026, according to the "Reorganization Plan", the capital reserve was transferred to increase the share capital by 879,774,351 shares, all of which were paid in cash by the reorganization investors, and the share capital increased to RMB 1,296,464,185.00.
Capital reserve

Unit: Yuan

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Item Opening balance Increase in the current period Decrease in the current period Ending balance Capital premium (equity premium

1,016,932,532.56 2,083,417,594.19 880,281,876.89 2,220,068,249.86 price)

Other capital reserves -239,586,867.86 -239,586,867.86 Adjustment of simulated issuance of shares -137,437,243.11 -137,437,243.11Total 639,908,421.59 2,083,417,594.19 880,281,876.89 1,843,044,138.89 Other explanations, including changes in increases and decreases in the current period and explanation of reasons for changes:

The increase in capital premium in this period is: 2,060,857,594.19 yuan of investment received from reorganization investors; according to the "Reorganization Plan", the original actual controller transferred 3 million shares of the company, and the capital reserve was increased based on the fair value of 22,560,000.00 yuan on the transfer date.

The reduction amount of capital premium in this period is: the capital reserve is reduced by RMB 879,774,351.00 due to the increase of share capital; the capital reserve is reduced by RMB 507,525.89 due to additional issuance expenses.

Treasury stocks

Unit: Yuan

Item Beginning balance Increase in the current period Decrease in the current period Ending balance Treasury shares 0.00 22,560,000.00 22,560,000.00Total 0.00 22,560,000.00 22,560,000.00 Other explanations, including changes in increases and decreases in the current period and reasons for changes:

According to the "Reorganization Plan", the original actual controller transferred 3 million shares of the company and increased treasury shares based on the fair value of 22,560,000.00 yuan on the transfer date.

Other comprehensive income

Unit: Yuan Amount incurred in the current period

Less: previous period Less: previous period

Income for the current period is included in other items and is included in other items. Attribution after tax

Item Opening balance Less: Income Attribution after tax Ending balance before tax Comprehensive income Comprehensive income Attributable to minority shares

Tax expenses at the parent company

Amount transferred in the current period Transferred in in the current period

Profit and loss Retained earnings

1. Can’t

Reclassified into - - Profit and loss 20,272,72 20,272,72 Other comprehensive income 7.00 7.00 loss

Others

-Equity Instruments

20,272,72 20,272,72 Fair investment

7.00 7.00 Value change

2. Will be heavy

Classified loss 1,702,097 278,116.0 124,429.3 153,686.6 1,826,526 Other gains .42 1 5 6 .77 Comprehensive income

foreign currency

1,594,997 278,116.0 124,429.3 153,686.6 1,719,426Financial Statements

.42 1 5 6 .77 conversion difference

107,100.0 107,100.0Others

0 0

278,116.0 124,429.3 153,686.6 -Other comprehensive

18,570,62 1 5 6 18,446,20

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Total income 9.58 0.23

Surplus reserve

Unit: Yuan

Item Opening balance Increase in the current period Decrease in the current period Ending balance Statutory surplus reserve 111,957,705.12 111,957,705.12 Total 111,957,705.12 111,957,705.12

Undistributed profits

Unit: Yuan

Projects in this issue Previous issue

Undistributed profit at the end of the previous period before adjustment -1,126,842,120.12 -1,045,952,305.52 Undistributed profit at the beginning of the period after adjustment -1,126,842,120.12 -1,045,952,305.52 Plus: Net profit attributable to the owners of the parent company for the current period

5,868,926.80 -80,889,814.60 profit

Undistributed profit at the end of the period -1,120,973,241.53 -1,126,842,120.12

Operating income and operating costs

Unit: Yuan Amount of current period Amount of previous period

Project

revenue cost revenue cost

Main business 202,183,858.67 70,441,220.95 182,413,494.12 63,588,388.08 Other businesses 210,822.63 56,509.34 974,369.41 0.00Total 202,394,681.30 70,497,730.29 183,387,863.53 63,588,388.08

Taxes and surcharges

Unit: Yuan

Item Amount for the current period Amount for the previous period

Urban maintenance and construction tax 821,729.63 721,369.31 Education fee surcharge 780,520.97 679,849.69 Property tax 1,149,179.40 1,139,907.14 Land use tax 523,973.22 524,116.20 Stamp tax 617,964.84 84,212.20 Environmental protection tax 2,138.17 2,213.81 Others 1,271.22

Total 3,896,777.45 3,151,668.35

Management expenses

Unit: Yuan

Item Amount for the current period Amount for the previous period

Salaries and benefits 15,147,758.78 19,161,392.29

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Depreciation and amortization 5,321,724.34 10,375,302.88 Inventory destruction upon maturity 643,060.36 279,267.73 Intermediary fee 3,378,706.34 3,644,944.24 Business entertainment fee 260,139.84 207,788.71 Lease fee 357,175.52 3,144,065.26 Office expenses 1,378,674.11 2,085,529.49 Travel expenses 787,441.69 390,192.03 Depreciation of the right to use assets 2,819.72 124,405.59 Vehicle use expenses 271,796.00 139,910.72Consulting fee 23,584.91 491,676.30Transportation fee 5,171.12 23,092.62Repair and maintenance fee 12,238.90 32,674.94Training fee 3,288.68 4,580.00Conference fee 32,160.38 5,207.55 Others 1,099,226.08 2,545,705.13 Total 28,724,966.77 42,655,735.48

Sales expenses

Unit: Yuan

Item Amount for the current period Amount for the previous period

Marketing service fee 82,397,420.64 75,212,122.53 Labor fee 1,910,931.69

Salary and welfare expenses 1,907,445.94 5,751,907.77 Business promotion expenses 225.29 1,121,461.16 Travel expenses 1,236,318.64 567,049.98 Business entertainment expenses 98,130.11 5,911.00 Transportation and miscellaneous expenses 14,380.18 Office expenses 113,595.22 32,813.04 Depreciation 151.02 151.02 Others 779.94

Total 87,664,998.49 82,705,796.68

Research and development expenses

Unit: Yuan

Item Amount for the current period Amount for the previous period

Employee salaries 2,596,680.05 2,922,263.82 Depreciation and amortization 186,202.52 196,869.39 Material costs 177,935.58 38,668.12 Technical service fees 5,745,172.46 1,271,854.73 Others 1,388,983.46 583,246.61 Total 10,094,974.07 5,012,902.67

Financial expenses

Unit: Yuan

Item Amount for the current period Amount for the previous period

Interest expense 3,494,992.30 14,195,204.84Interest income -1,338,969.09 -153,809.88Exchange loss 368.90 1,015.00Fee expense 27,069.70 22,505.72

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Other expenses 0.00 231,790.58 Total 2,183,461.81 14,296,706.26

Other income

Unit: Yuan

Sources of other income Amount incurred in the current period Amount incurred in the previous period

Government subsidies 4,953,510.62 3,602,231.98Additional deduction for value-added tax input tax 42,562.45 146,663.72Refund of personal income tax withholding fees 85,321.41 40,531.93Others 204,955.73

Total 5,286,350.21 3,789,427.63

Investment income

Unit: Yuan

Item Amount for the current period Amount for the previous period

Long-term equity investment income calculated using the equity method 361,387.23 -384,832.38 Investment income from trading financial assets during the holding period

6,221,191.78

benefit

Income from debt restructuring 17,695.18

Total 6,600,274.19 -384,832.38

Credit impairment losses

Unit: Yuan

Item Amount for the current period Amount for the previous period

Bad debt losses on accounts receivable -1,133,943.37 -653,709.92 Bad debt losses on other receivables -1,048,092.87 -28,184.04Total -2,182,036.24 -681,893.96

Asset impairment losses

Unit: Yuan

Item Amount for the current period Amount for the previous period

1. Inventory depreciation losses and contract performance cost deductions

943,954.12 222,310.83 value loss

Total 943,954.12 222,310.83

Income from asset disposal

Unit: Yuan

Source of asset disposal income Amount incurred in the current period Amount incurred in the previous period

Disposal of non-current assets not classified as held for sale

294,675.73 -157,855.19 Gains or losses incurred

Total 294,675.73 -157,855.19

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Non-operating income

Unit: Yuan Financial items included in non-recurring gains and losses for the current period Amount incurred in the current period Amount incurred in the previous period

Others 1,238,726.96 457,722.88 1,238,726.96 Total 1,238,726.96 457,722.88 1,238,726.96

Non-operating expenses

Unit: Yuan Financial items included in non-recurring gains and losses for the current period Amount incurred in the current period Amount incurred in the previous period

Non-monetary asset exchange losses

Loss from damage and scrapping of non-current assets 62,370.24 10,064.60 62,370.24 Bond liquidated damages and penalty expenses 460,435.16 5,768,398.65 460,435.16 Others 507,150.16

Total 522,805.40 6,285,613.41 522,805.40

Income tax expenses

(1) Income tax expense schedule

Unit: Yuan

Item Amount for the current period Amount for the previous period

Current income tax expense 2,674,621.47 1,118,557.83 Deferred income tax expense 198,973.03 -17.48 Total 2,873,594.50 1,118,540.35

(2) Adjustment process of accounting profits and income tax expenses

Unit: Yuan

Item Amount incurred in this period

Total profit 10,990,911.99 Income tax expenses calculated according to statutory/applicable tax rates 2,747,728.00 The impact of different tax rates applicable to subsidiaries 6,004,239.90 The impact of non-deductible costs, expenses and losses 565,574.02 The impact of using deductible losses of unrecognized deferred income tax assets in the previous period -16,508,004.34 Deductible temporary differences or deductible temporary differences that have not been recognized as deferred income tax assets in the current period

967,391.04 Impact of loss

Impact of super deduction of R&D expenses -1,514,246.11 Income tax expense 2,873,594.50

Other comprehensive income

For details, please see "35. Other comprehensive income" in Note "VII. Notes to Consolidated Financial Statement Items".

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Cash flow statement items

(1) Cash related to operating activities

Other cash received related to operating activities

Unit: Yuan

Item Amount for the current period Amount for the previous period

Government subsidies received 3,166,348.08 2,000,883.01 Bank interest received 1,338,969.09 153,809.88 Market margin and transactions received 2,458,450.25 4,725,771.64 Total 6,963,767.42 6,880,464.53 Other cash paid related to operating activities

Unit: Yuan

Item Amount for the current period Amount for the previous period

Expenses 123,136,465.64 53,041,078.21 Handling fees 27,438.59 23,618.15 Other non-operating expenses 350,050.00 930,025.05 Reorganization and repayment of operating debts 22,985,219.47

Market reserves and current transactions 18,368,609.70 2,683,625.45 Total 164,867,783.40 56,678,346.86

(2) Cash related to investing activities

Significant cash received related to investing activities

Unit: Yuan

Item Amount for the current period Amount for the previous period

Income from redemption of structured deposit investments 6,221,191.78

Total 6,221,191.78

Significant cash payments related to investing activities

Unit: Yuan

Item Amount for the current period Amount for the previous period

Net investment in structured deposits 223,210,634.46

Total 223,210,634.46

(3) Cash related to financing activities

Other cash received related to financing activities

Unit: Yuan

Item Amount for the current period Amount for the previous period

Shanghai Jingfeng Huaxia Bank's margin release restriction 0.00 20,000,000.00 Total 0.00 20,000,000.00 Other cash paid related to financing activities

Unit: Yuan

Item Amount for the current period Amount for the previous period

Manager account funds 25,000,000.00

Rent 804,646.02

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Total 25,804,646.02 0.00 Changes in various liabilities arising from financing activities

Applicable □Not applicable

Unit: Yuan Increase in this period Decrease in this period

Item Beginning balance Closing balance

Cash changes Non-cash changes Cash changes Non-cash changes

Other payables

4,101.84 4,101.84 0.00 (interest payable)

Short-term borrowings 9,761,341.05 9,761,341.05 0.00 Long-term borrowings 76,180,475.67 3,296,191.46 79,447,135.90 29,531.23 Bonds payable and its

205,093,212.01 186,383,890.81 18,709,321.20 0.00 Interest and liquidated damages

Lease liabilities 7,376,294.68 198,800.84 804,646.02 6,770,449.50 Total 298,415,425.25 3,494,992.30 276,397,013.78 18,713,423.04 6,799,980.73

Supplementary information for cash flow statement

(1) Supplementary information for cash flow statement

Unit: Yuan

Supplementary information Amount for the current period Amount for the previous period

1． Adjust net profit to cash flow from operating activities

Quantity:

Net profit 8,117,317.49 -32,182,607.94 plus: asset impairment provision -943,954.12 -222,310.83 Credit impairment loss 2,182,036.24 681,893.96 Depreciation of fixed assets, depreciation of oil and gas assets

6,320,833.56 6,546,868.64 Depreciation of consumption and productive biological assets

Depreciation of right-of-use assets 619,413.49 655,623.04 Amortization of intangible assets 3,648,518.57 5,682,282.30 Amortization of long-term prepaid expenses 253,639.26 236,666.78

Disposal of fixed assets, intangible assets and other

Loss of other long-term assets (income is listed with "-" sign -294,675.73 157,855.19)

Loss on scrapping of fixed assets (income based on

-62,370.24 10,064.60 (Fill in “-”)

Loss from change in fair value (gain based on

Fill in the column with "-" sign)

Financial expenses (revenues are filled in with "-"

3,494,992.30 14,426,995.42 columns)

Investment losses (income is filled in with "-"

-6,600,274.19 384,832.38 columns)

Deferred tax assets decreased (increased by

272,417.70 566.65 (Fill in “-”)

Deferred tax liabilities increased (decreased by

-73,572.44 -584.13 “-” (fill in the column)

Decrease in inventory (increase marked with "-" -11,380,470.68 -2,979,574.99

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Fill in the column)

Decrease in operating receivables (increase in

-24,257,636.27 1,510,202.97 (please fill in with "-")

Increase (decrease) in operating payables

-106,464,576.18 3,417,820.12 (please fill in with "-")

Others

Net cash flow generated from operating activities -125,168,361.24 -1,673,405.84 2. Major investments and financing that do not involve cash receipts or payments

Activities:

debt to capital

Convertible corporate bonds due within one year

Financing leased fixed assets

3． Net changes in cash and cash equivalents:

Closing balance of cash 1,401,262,783.48 19,588,302.62 Less: Opening balance of cash 37,484,681.51 58,786,248.38 Add: Closing balance of cash equivalents

Less: Opening balance of cash equivalents

Net increase in cash and cash equivalents 1,363,778,101.97 -39,197,945.76

(2) Composition of cash and cash equivalents

Unit: Yuan

Item Ending balance Beginning balance

Cash 1,401,262,783.48 37,484,681.51

Bank deposits available for payment at any time 1,401,262,783.48 37,484,681.51

Balance of cash and cash equivalents at the end of the period 1,401,262,783.48 37,484,681.51
Foreign currency monetary items

(1) Foreign currency monetary items

Unit: Yuan

Item Foreign currency balance at the end of the period Conversion exchange rate Monetary funds converted into RMB at the end of the period 9,701,037.38 Including: US dollars 1,424,340.01 6.8109 9,701,037.38 Euros

Hong Kong dollar

Accounts receivable 4,560,873.07 Including: US dollars 669,643.23 6.8109 4,560,873.07 Euros

Hong Kong dollar

Other receivables 62,697.74 including: USD 9,205.50 6.8109 62,697.74 Accounts payable 4,597,066.54 including: USD 674,957.28 6.8109 4,597,066.54

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Other payables 15,454,661.63 Including: USD 2,269,107.11 6.8109 15,454,661.63 Long-term borrowings

Of which: US dollars

Euro

Hong Kong dollar

(2) The nature of the lack of currency convertibility and its financial impact, the spot exchange rate used and its estimation process, and the risks faced by the enterprise due to the lack of currency convertibility

□Applicable Not applicable

(3) Description of overseas operating entities, including for important overseas operating entities, their main overseas business location, accounting standard currency and basis for selection should be disclosed. If the accounting standard currency changes, the reasons should also be disclosed.

Applicable □Not applicable

Important Overseas Business Entity Main Overseas Business Place Accounting Functional Currency Selection Basis Praxgen Pharma New Jersey, United States USD Overseas Operations

(4) Lack of convertibility between the accounting standard currency of overseas operations and the enterprise’s presentation currency

□Applicable Not applicable

Leasing

(1) The company serves as the lessee

Applicable □Not applicable

Variable lease payments not included in the measurement of lease liabilities

□Applicable Not applicable

Simplified treatment of short-term leases or lease payments for low-value assets

Applicable □Not applicable

Unit: Yuan

Item Variable lease payments that are included in the cost of relevant assets or current profits and losses but are not included in the measurement of lease liabilities

Including: part generated from sale and leaseback transactions

Short-term lease expenses that are included in the simplified treatment of relevant asset costs or current profits and losses 357,175.52 Low-value asset lease expenses that are included in the simplified treatment of relevant asset costs or current profits and losses (except for short-term lease expenses of low-value assets)

Total cash outflow related to leasing 804,646.02

8. R&D expenditures

Unit: Yuan

Item Amount for the current period Amount for the previous period

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Employee salaries 2,772,812.26 3,294,925.70 Depreciation and amortization 189,780.99 205,138.01 Material costs 505,510.78 38,668.12 Technical service fees 7,341,398.88 1,271,854.73 Others 1,427,570.45 594,535.93 Total 12,237,073.36 5,405,122.49 Including: Expenditure R&D expenditure 10,094,974.07 5,012,902.67

Capitalized R&D expenditure 2,142,099.29 392,219.82

R&D projects that meet capitalization conditions

Unit: Yuan Increase amount in this period Decrease amount in this period

Item Opening balance Confirmed as N/A Transferred to current period Closing balance Internal development expenditure Others

tangible assets profit and loss

JZC11 94,012,923.62 896,763.25 94,909,686.87 JZB01

AQN01 1,245,336.04 1,245,336.04Total 94,012,923.62 2,142,099.29 96,155,022.91Important capitalized R&D projects

Estimated economic benefits Projects to start capitalization R&D progress Estimated completion time Time to start capitalization

Production method Specific basis JZC11 Phase III clinical research in progress January 1, 2028 Production and sales January 1, 2018 Obtained clinical approval and impairment provision for development expenses

Unit: Yuan

Item Opening balance Increase in the current period Decrease in the current period Ending balance Impairment test situation JZB01 22,330,561.23 22,330,561.23 Approval expired, total impairment 22,330,561.23 22,330,561.23

9. Changes in consolidation scope

Changes in the scope of consolidation due to other reasons

Explain the changes in the scope of consolidation caused by other reasons (such as the establishment of new subsidiaries, liquidation of subsidiaries, etc.) and their related circumstances:

Not applicable.

10. Interests in other entities

Interests in subsidiaries

(1) Composition of enterprise groups

Unit: Yuan

Shareholding ratio

Name of subsidiary company Registered capital Main place of business Place of registration Nature of business How to obtain

direct indirect

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

771,000,00 Major assets include Shanghai Jingfeng Shanghai Shanghai Production and sales 100.00%

0.00 group placement

730,000,00 Major assets Guizhou Jingfeng Guiyang Guiyang Production and sales 100.00%

0.00 group implanted with Guizhou Jingfeng Medicine

2,000,000. Major Assets and Heavy Products Sales Co., Ltd. Guiyang Guiyang Sales 100.00%

00 Group Placement Company

171,000,00 Major assets Guizhou Jingcheng Guiyang Guiyang Production and sales 100.00%

0.00 group placement

20,000,000 Major assets Hainan Jinrui Haikou Haikou Production and sales 87.00%

.00 group placement Shanghai Jing Xiusheng

1,000,000.

Biotechnology Co., Ltd. Shanghai Shanghai Production and sales 100.00% Company establishment

Shanghai Jingyanhe

1,000,000.

Biotechnology has Shanghai Shanghai production and sales 100.00% established limited company

Shanghai Qijing Investment

10,000,000

Asset Management Co., Ltd. Shanghai Shanghai Industrial Investment 100.00% established

.00

company

Shanghai Huayu Medical Center

60,000,000

Medical Investment Management Shanghai Shanghai Hospital Management 100.00% Established

.00

Ltd.

3,331,495. Production and research

Shengjing Meiya Guiyang Guiyang 51.00% Establishment 69 Development and sales

R&D, sales

22,500,000 Non-commonly controlled Kexin Biotechnology Shanghai Shanghai Sales and technical services 60.00%

Business combination under .00

services, consultation

Praxgen non-identical control

United States United States Technology Development 51.00%

Business combination under Pharma Peterson

Athenex

United States United States Technology Development 51.00% Establishment of Pharmaceut

icals, LLC

10,000,000 Yibin Zhonglian not under common control Pingshan County Yibin Sales 51.00%

Business combination under .00

2,424,390. Raw material manufacturing sales withdrawn and forced clearance Dalian Deze Dalian Dalian 64.06%

00 sold, including Hai Ruibosi

10,000,000

Biotechnology has Shanghai Shanghai Technology Development 100.00% established

.00

Ltd.

Shanghai Selaginella Peak

30,000,000

Biotechnology has Shanghai Shanghai production and sales 35.00% established

.00

Ltd.

5,000,000.

Changde Jingcheng Changde Changde Others 100.00% Established

Explanation on the difference between the proportion of shareholding in subsidiaries and the proportion of voting rights:

Note 1: The company holds 100% equity of Shanghai Fangnan Biotechnology Co., Ltd., but the company is not actually responsible for the daily affairs of Shanghai Fangnan Biotechnology Co., Ltd.

It operates regularly and does not control Shanghai Fangnan Biotechnology Co., Ltd. and is not actually included in the scope of consolidation.

Note 2: The company directly holds 35% of the equity of Shanghai Selaginella Biotechnology Co., Ltd., but the company can influence the company through other shareholders and core management personnel of the company.

It affects the voting opinions and actual operation and management of 51% of the company's equity, so the company will include it in the scope of consolidation.

(2) Important non-wholly owned subsidiaries

Unit: Yuan

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Attributable to minority shareholders in this period. Announcement to minority shareholders in this period. Name of remaining company with minority shareholders’ equity at the end of the period. Shareholding ratio of minority shareholders.

Profit and loss Amount of dividends distributed

Hainan Jinrui 13.00% 861,200.42 -95,870.75 Dalian Deze 35.94% 1,227,952.75 45,871,001.67

(3) Main financial information of important non-wholly owned subsidiaries

Unit: Yuan

Ending balance Beginning balance

Zigong

non-flow non-flow non-flow non-flow

Company name Current assets Current liabilities Current assets Current liabilities Liquid capital Current liabilities Liquid capital Liquid liabilities

Total Assets Liabilities Total Assets Total Liabilities Total Assets Debt Assets Debt

29,05 23,01 52,06 47,29 5,508 52,80 51,50 24,55 76,05 77,39 6,021 83,42Hainan

1,206 8,448 9,654 8,736 ,385. 7,121 3,571 5,120 8,691 9,174 ,602. 0,777 Jinrui

.05 .33 .38 .64 00 .64 .51 .19 .70 .62 98 .60

89,75 10,38 100,1 22,38 22,38 90,82 10,96 101,7 19,29 19,29Dalian

2,575 7,843 40,41 6,230 6,230 3,623 5,440 89,06 2,069 2,069Deze

.02 .42 8.44 .06 .06 .34 .80 4.14 .09 .09Unit: Yuan

Amount for the current period Amount for the previous period

Subsidiary name

Comprehensive Income Operating Activities Comprehensive Income Operating Activities Operating Income Net Profit Operating Income Net Profit

Total Cash Flow Total Cash Flow

43,448,15 6,624,618 6,624,618 17,367,45 38,772,98 4,258,928 4,258,928 1,200,423 Hainan Jinrui

1.60 .64 .64 3.04 8.26 .72 .72 .15

13,119,30 3,416,693 3,416,693 13,800,77

Dalian Deze

3.69 .33 .33 1.31

Interests in joint ventures or associated enterprises

(1) Important joint ventures or associates

Shareholding ratio Investment in joint ventures or joint ventures or associates Main place of business Registration place Nature of business

Name of operating enterprise Direct indirect accounting treatment method

Fa Changde Jingze Hunan Hunan Technology Services 10.00% Equity method

(2) Main financial information of important associates

Unit: Yuan Closing balance/amount of the current period Opening balance/amount of the previous period

Changde Jingze Pharmaceutical Technology Co., Ltd. Changde Jingze Pharmaceutical Technology Co., Ltd. Current assets 65,565,812.52 57,852,186.58 Non-current assets 312,355,880.50 302,373,174.79 Total assets 377,921,693.02 360,225,361.37 Current liabilities 87,716,487.24 75,604,069.85 Non-current liabilities 373,657.48 247,542.45 Total liabilities 88,090,144.72 75,851,612.30

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

minority interests

Equity attributable to shareholders of the parent company 289,831,548.30 284,373,749.07 Share of net assets calculated based on shareholding ratio 28,983,154.83 28,437,374.91 Adjustment matters

--Goodwill

--Unrealized profits from internal transactions

--Others

Book value of equity investments in associates 28,983,154.83 28,437,374.91 Equity investments in associates with publicly quoted prices

fair value

Operating income 27,769,761.46 0 Net profit 5,457,799.20 0 Net profit from discontinued operations

other comprehensive income

Total comprehensive income 5,457,799.20 0

Dividends received from associates during the year

11. Government subsidies

Government subsidies recognized according to the amount receivable at the end of the reporting period

□Applicable Not applicable

Reasons for failure to receive the estimated amount of government subsidy at the estimated time

□Applicable Not applicable

Liability items involving government subsidies

Applicable □Not applicable

Unit: Yuan Included in this period

Newly added in this period. Transferred to others in this period. Other and assets/receipt accounting accounts in this period. Opening balance. Non-operating revenue. Ending balance.

Subsidy amount Income amount Other changes Interest related

Deposit amount

Deferred income 13,576,268.94 1,788,544.62 11,787,724.32 Total related to assets 13,576,268.94 1,788,544.62 11,787,724.32 Related to assets

Government subsidies included in current profits and losses

Applicable □Not applicable

Unit: Yuan

Accounting accounts Amount for the current period Amount for the previous period

Related to income 3,497,805.59 2,000,883.01 Related to assets 1,788,544.62 1,788,544.62 Total 5,286,350.21 3,789,427.63

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

12. Risks related to financial instruments

Various risks arising from financial instruments

(1) Risks of financial instruments

The company's main financial instruments include equity investments, loans, accounts receivable, and accounts payable. For detailed descriptions of each financial instrument, please see the relevant items in Note 5 of this note. The risks associated with these financial instruments, and the risk management policies adopted by the Company to mitigate these risks, are described below. The company's management manages and monitors these risk exposures to ensure that the above risks are controlled within limited limits.

The company uses sensitivity analysis techniques to analyze the possible impact of reasonable and possible changes in risk variables on current profits and losses or shareholders' equity. Since any risk variable rarely changes in isolation, and the correlation between variables will have a significant impact on the final impact of a change in a certain risk variable, the following content is based on the assumption that changes in each variable are independent.

The company's goal in risk management is to achieve an appropriate balance between risks and returns, reduce the negative impact of risks on the company's operating performance to a minimum, and maximize the interests of shareholders and other equity investors. Based on this risk management objective, the company's basic risk management strategy is to determine and analyze the various risks faced by the company, establish an appropriate risk tolerance bottom line and conduct risk management, and supervise various risks in a timely and reliable manner to control risks within a limited range.

Market risk

①Foreign exchange risk

Foreign exchange risk refers to the risk of losses due to changes in exchange rates. The company's foreign exchange risk exposure is mainly related to the US dollar. Except for one of the company's subsidiaries that purchases and sells in US dollars, the company's other main business activities are denominated and settled in RMB. As of June 30, 2026, except for the assets or liabilities described in the table below whose balances are in US dollars, the Company's assets and liabilities are all in RMB balances. The foreign exchange risk arising from the assets and liabilities with such foreign currency balances may have an impact on the Company's operating results.

Unit: Yuan

Item Ending amount Beginning amount

Cash and cash equivalents 9,701,037.38 10,961,529.02 Accounts receivable 4,560,873.07 4,784,923.01 Other receivables 62,697.74 64,703.62 Accounts payable 4,597,066.54 6,620,244.67

Other payables 15,454,661.63 15,418,758.97

Financial assets

(1) Classification of transfer methods

Applicable □Not applicable

Unit: Yuan

Transfer Financial assets transferred Derecognition information

Nature of transferred financial assets Basis for judgment on derecognition

Method Amount Status

Since the bank acceptance bill in the notes receivable is determined by the credit rating

Notes receivable that have been endorsed or discounted are still

Endorsement 16,415,365.06 Termination of recognition Higher bank acceptance, for endorsed bank acceptance bills that have not expired

Stop confirmation

Since the bank acceptance bill in the notes receivable is determined by the credit rating

Among the bills receivable, bank acceptances that have been endorsed or discounted are not high, and the endorsed bank acceptance bills do not affect the endorsement. 18,038,231.92 Not derecognized

Unexpired bank acceptance bills have no recourse, and the credit risk and deferred payment risk related to the bills have not been transferred, so they have not been derecognized.

Total 34,453,596.98

(2) Financial assets derecognized due to transfer

Applicable □Not applicable

Unit: Yuan

Item Method of transferring financial assets Amount of financial assets derecognized Gains or losses related to derecognition

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

lose

Banks with bills receivable that have not yet matured

Endorsement 16,415,365.06

acceptance bill

Total 16,415,365.06

(3) Asset transfer financial assets that continue to be involved

Applicable □Not applicable

Unit: Yuan

Item Asset transfer method Amount of assets formed by continued involvement Amount of liabilities formed by continued involvement Bank commitments in notes receivable that have not yet matured

Endorsement 18,038,231.92 18,038,231.92 Exchange of draft

Total 18,038,231.92 18,038,231.92

13. Disclosure of fair value

Closing fair value of assets and liabilities measured at fair value

Unit: Yuan Ending Fair Value

Item Level 1 fair value measurement Second level fair value measurement Third level fair value measurement

total

quantity quantity quantity

1. Sustained fair value

Measurement

(1) Trading finance

223,210,634.46 223,210,634.46 produced

Measured at fair value and

The changes are included in the current profit and loss 223,210,634.46 223,210,634.46 financial assets

(4) Bank structured deposits 223,210,634.46 223,210,634.46 Continue to be measured at fair value

Total assets of 223,210,634.46 223,210,634.46

(6) Transactional financial liabilities

11,874,000.00 11,874,000.00 Debt

Derivative financial liabilities 11,874,000.00 11,874,000.00Continuously measured at fair value

11,874,000.00 Total liabilities of 11,874,000.00

2. Non-sustainable fair price

value measurement

Continuous and non-continuous second-level fair value measurement items, valuation techniques used and qualitative and quantitative information on important parameters

Item Closing fair value (yuan) Valuation technology Unobservable input value

Financial assets:

Bank structured deposits 223,210,634.46 Discounted cash flow Future expected cash flow

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Continuous and non-continuous third-level fair value measurement projects, valuation techniques used and qualitative and quantitative information on important parameters

Item Ending fair value (yuan) Valuation technology Unobservable input value Financial liabilities:

Derivative financial liabilities 11,874,000.00 Fair value based on option valuation

14. Related parties and related transactions

Information about the parent company of this enterprise

Parent company to this enterprise Parent company to this enterprise Parent company name Place of registration Nature of business Registered capital

Proportion of shareholding Proportion of voting rights CSPC Pharmaceutical Holdings Group Co., Ltd. Shijiazhuang Investment 521.36 million yuan 26.00% 26.00% Description of the parent company of this enterprise

On March 17, 2026, the 879,774,351 shares transferred by the company in the implementation of the "Reorganization Plan" were transferred from the special account for property disposal of bankrupt enterprises of Hunan Jingfeng Pharmaceutical Co., Ltd. to the securities accounts of all reorganization investors. After the transfer is completed, CSPC Pharmaceutical Holdings holds 457,482,662 shares of the company (accounting for 26.00% of the company's total share capital) and is the company's largest shareholder. The controlling shareholder of the company was changed from Mr. Ye Xiangwu to CSPC Pharmaceutical Holdings, and the actual controller of the company was changed from Mr. Ye Xiangwu to Mr. Cai Dongchen.

The ultimate controller of the company is Mr. Cai Dongchen.

Information about the company’s subsidiaries

For details of the company's subsidiaries, please refer to Note "10. Equity in Other Entities".

Information on joint ventures and associated enterprises of the enterprise

For details of the company's important joint ventures or associates, please refer to Note "10. Interests in Other Entities".

The situation of other joint ventures or associates that have related party transactions with the company in the current period, or related party transactions with the company in previous periods that resulted in balances is as follows:

Name of joint venture or associated enterprise Relationship with this enterprise Shanghai Fangnan Biotechnology Co., Ltd. Associated enterprise

Shanghai Jinyu Venture Capital Partnership (Limited Partnership) Associates

Shanghai Kangjing Equity Investment Fund Partnership (Limited Partnership) Associates

Shenzhen Yiyikangyun Information Technology Co., Ltd. Associate Enterprise

Tianjin Landan Enterprise Management Consulting Partnership (Limited Partnership) Associate Enterprise

Changde Jingze Associates

Other related parties

Names of other related parties Relationship between other related parties and the company Cai Dongchen Actual controller

Ye Xiangwu, shareholder holding more than 5% of shares

Ye Gaojing Ye Xiangwu's children

Ma Yingjun, a minority shareholder of the Company’s subsidiaries

Beijing Pude Kangli Pharmaceutical Technology Development Co., Ltd. Joint stock company

Wuyi Huijun Investment Partnership (Limited Partnership) A small shareholder of the company’s investment company

Shanghai Kexin Biotechnology Co., Ltd. Minority shareholder of the company’s subsidiaries

Sichuan Gaohua Enterprise Management Co., Ltd. Minority shareholder of the company's subsidiaries

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Sichuan Dengfeng Huayuan Packaging Products Co., Ltd. An affiliated enterprise of a subsidiary of the Company

CSPC Pharmaceutical Holdings Parent Company

Changde Deyuan Investment Co., Ltd. Important shareholder

China Great Wall Asset Management Co., Ltd. Hunan Branch Shareholders holding more than 5% of the shares

Significant shareholder of Hunan Jingyi Enterprise Management Consulting Partnership (Limited Partnership)

CSPC Zhongcheng Pharmaceutical is a company controlled by the same actual controller

CSPC Zhongqi Pharmaceutical Technology (Shijiazhuang) Co., Ltd. A company controlled by the same actual controller

Dalian Jingang Company controlled by the same actual controller

Related transactions

(1) Related transactions related to the purchase and sale of goods, provision and receipt of services

List of goods sold/services provided

Unit: Yuan

Related parties Related party transaction content Amount incurred in the current period Amount incurred in the previous period

CSPC Zhongcheng Medicine Sales of goods 51,309,104.04 38,598,773.77 Dalian Jingang Sales of goods 14,818,377.00

Total 66,127,481.40 38,598,773.77

(2) Fund lending from related parties

Unit: Yuan

Related parties Borrowing amount Start date Maturity date Description

dismantle

Ye Xiangwu 4,300,000.00 December 27, 2024 December 26, 2025 Contract has expired

take out

(3) Remuneration of key management personnel

Unit: Yuan

Item Amount for the current period Amount for the previous period

Remuneration of key management personnel 950,625.49 575,000.00

Accounts receivable and payable from related parties

(1) Items receivable

Unit: Yuan Ending balance Beginning balance

Project name Related parties

Book balance Bad debt provision Book balance Bad debt provision Other receivables Ma Yingjun 19,300,000.00 19,300,000.00 19,300,000.00 19,300,000.00

Shanghai Fangnan Biological Sciences

Other receivables 263,296.71 263,296.71 263,296.71 263,296.71 Technology Co., Ltd.

Sichuan Gaohua Enterprise Management

Other receivables 593,000.00 254,500.00 593,000.00 254,500.00

management co., ltd.

Dividends receivable Dalian Jingang 20,156,771.27 20,156,771.27

Accounts receivable CSPC Zhongcheng Pharmaceutical 4,212,194.55 210,609.73 1,740,410.15 87,020.51 Accounts receivable Dalian Jingang 10,782,654.33 536,383.72 304,277.62 67,444.88 Accounts receivable Shanghai Kangjing Equity Investment 1,740,410.15 87,020.51 1,740,410.15 87,020.51

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

capital partnership

(limited partnership)

Total 57,048,327.01 20,651,810.67 44,098,165.90 20,059,282.61

(2) Items payable

Unit: Yuan

Project name Related parties Book balance at the end of the period Book balance at the beginning of the period Contract liabilities CSPC Zhongcheng Pharmaceutical 35,842.19 Other payables Beijing Pude Kangli Pharmaceutical Technology Development Co., Ltd. 551,528.20 551,528.20 Other payables Ma Yingjun 1,865,961.58 1,865,961.58 Other payables Ye Xiangwu 60,642,558.11 70,855,631.66 Other payables Ye Gaojing 530,918.50 Other payables Dalian Jingang 10,904,451.97 Other payables CSPC Zhongcheng Pharmaceutical 25,000,000.00 Other payables Changde Deyuan Investment Investment Co., Ltd. 5,000,000.00 Other payables CSPC Pharmaceutical Holdings 10,000,000.00

China Great Wall Asset Management Co., Ltd. Hunan Branch

Other payables 5,000,000.00

Division

Other payables Hunan Jingyi Enterprise Management Consulting Partnership (Limited Partnership) 11,634,212.63 Accounts payable Shanghai Kexin Biotechnology Co., Ltd. 865,000.00 865,000.00 Accounts payable Dalian Jingang 986,064.00 Total 63,925,047.89 143,229,610.73

15. Commitments and contingencies

Important commitments

Important commitments existing at the balance sheet date

For subsidiaries that have not fulfilled their capital contribution obligations:

Serial number Subsidiary Amount subscribed (RMB 10,000) Amount actually paid (RMB 10,000) No actual capital contribution yet (RMB 10,000) 1 Shanghai Selaginella Biotechnology Co., Ltd. 1,050.00 939.99 110.01

2 Changde Jingcheng 500.00 0.00 500.00

16. Notes on main items of the parent company’s financial statements

Other receivables

Unit: Yuan

Item Ending balance Beginning balance

Other receivables 264,937,125.61 97,333,476.53 Total 264,937,125.61 97,333,476.53

(1) Other receivables

Classification of other receivables according to nature of payment

Unit: Yuan

Nature of payment Book balance at the end of the period Book balance at the beginning of the period

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Unit transactions 262,999,268.08 97,263,773.19 Rent and deposit 416,515.92 326,515.92 Others 1,973,452.37 126,974.27 Total 265,389,236.37 97,717,263.38

Disclosure based on aging

Unit: Yuan

Aging Book balance at the end of the period Book balance at the beginning of the period

Within 1 year (including 1 year) 186,938,277.71 17,914,965.84 1 to 2 years 7,267,770.72 1,674,741.79 2 to 3 years 1,674,741.79 13,901,373.00 More than 3 years 69,508,446.15 64,226,182.75 3 to 4 years 13,901,373.00 54,847,372.56 4 to 5 years 48,289,797.92 261,713.36

More than 5 years 7,317,275.23 9,117,096.83 Total 265,389,236.37 97,717,263.38

Classified disclosure according to bad debt accrual method

Unit: Yuan Ending balance Beginning balance

Book balance Provision for bad debts Book balance Provision for bad debts

Category Book price Book price provision ratio Provision ratio

Amount Ratio Amount Value Amount Ratio Amount Value Example

its

Medium:

by combination

265,389 452,110 264,937 97,717, 383,786 97,333, bad provision 100.00% 0.17% 100.00% 0.39%

,236.37 .76 ,125.61 263.38 .85 476.53Account preparation

its

Medium:

combination

2,389,9 452,110 1,937,8 453,490 383,786 69,703. 1: Aging 0.90% 18.92% 0.46% 84.63%

68.29 .76 57.53 .19 .85 34 combination

combination

262,999 262,999 97,263, 97,263, 2: Correlation 99.10% 99.54%

,268.08 ,268.08 773.19 773.19 square combination

265,389 452,110 264,937 97,717, 383,786 97,333, total 100.00% 0.17% 100.00% 0.39%

,236.37 .76 ,125.61 263.38 .85 476.53 Category name of bad debt provision by combination:

Unit: Yuan ending balance

Name

Book balance Bad debt provision Provision ratio

Portfolio 1: Aging portfolio 2,389,968.29 452,110.76 18.92% Portfolio 2: Related party portfolio 262,999,268.08

Total 265,389,236.37 452,110.76

Provision for bad debts is made based on the general expected credit loss model:

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Unit: Yuan Phase 1 Phase 2 Phase 3

Bad debt provisions Expected credit in the next 12 months Expected credit losses throughout the entire duration Expected credit losses throughout the duration Total

Loss Loss (no credit impairment occurred) Loss (credit impairment occurred)

Balance on January 1, 2026 383,786.85 383,786.85 Balance on January 1, 2026

In this issue

Provision for the current period 68,323.91 68,323.91 Remainder as of June 30, 2026

452,110.76 452,110.76 amount

Changes in book balances with significant changes in loss provision during the current period

□Applicable Not applicable

Bad debt provisions accrued, recovered or reversed in the current period

Bad debt provisions for the current period:

Unit: Yuan Amount of changes in the current period

Category Beginning Balance Ending Balance

Provision Recovery or transfer Write-off or write-off Others

Aging combination 383,786.85 68,323.91 452,110.76 Related party combination 0 0 0 Total 383,786.85 68,323.91 452,110.76

Other receivables with the top five closing balances collected by debtors

Unit: Yuan accounted for other receivable period

Name of the unit with the ending balance of bad debt provision Nature of the payment Ending balance Aging Total ending balance

Proportion

Guizhou Jingfeng Internal transactions 172,724,370.98 Within 5 years 65.08%

Changde Jingcheng Internal transactions 34,466,932.95 Within 1 year 12.99%

Hainan Jinrui Internal transactions 24,949,905.95 Within 1 year 9.40%

Dalian Deze Internal transactions 16,000,000.00 Within 1 year 6.03%

Guizhou Jingcheng Internal transactions 7,300,000.00 Within 1 year 2.75%

Total 255,441,209.88 96.25%

Long-term equity investment

Unit: Yuan Ending balance Beginning balance

Project

Book balance Impairment provision Book value Book balance Impairment provision Book value

5,265,689,10 4,263,740,47 1,001,948,63 5,258,689,10 4,263,740,47 994,948,635. Investment in subsidiaries

9.55 3.73 5.82 9.55 3.73 82 pairs of joint ventures and joint ventures 214,350,978. 208,165,432. 214,361,948. 208,165,432.

6,185,545.70 6,196,515.49Enterprise investment 29 59 08 59

5,480,040,08 4,471,905,90 1,008,134,18 5,473,051,05 4,471,905,90 1,001,145,15Total

7.84 6.32 1.52 7.63 6.32 1.31

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

(1) Investment in subsidiaries

Unit: Yuan

Balance at the beginning of the period Increase or decrease during the period Balance at the end of the period

Investee Impairment provision Impairment provision

(Book price Provision for impairment (Book price

Position Opening balance Additional investment Decrease investment Others Closing balance value) Reserve value)

852,359,4 4,068,774 852,359,4 4,068,774Shanghai Jingfeng

06.87,343.03 06.87,343.03Shanghai Qijing

1,377,999 1,622,000 7,000,000 8,377,999 1,622,000Investment Management

.83 .17 .00 .83 .17Co., Ltd.

22,500,00 22,500,00 Kexin Biology

0.00 0.00Shanghai Huayu

Medical Investment 141,211,2 2,288,770 141,211,2 2,288,770 Management Co., Ltd. 29.12 .88 29.12 .88Company

168,555,3 168,555,3 Shengjing Meiya

59.65 59.65

994,948,6 4,263,740 7,000,000 1,001,948 4,263,740Total

35.82,473.73.00,635.82,473.73

(2) Investment in associates and joint ventures

Unit: Yuan

Increases and decreases in the current period

Beginning of period Equity declaration End of period

Impairment Impairment balance Other issuance balance under the law

Investment Provisions Other Provisions Provisions (Account Addition Decrease Confirmation Comprehensive Cash (Account

Unit Equity at the beginning of the period Impairment Others Ending face value Investment Income from investment Dividends Face value

Balance Change Provision Balance Value) Capital Loss Adjustment or Profit Value)

profit

1. Joint ventures

2. Joint ventures

Shanghai

Fang Nan

93,11 93,11Biology

5,705 5,705 Technology

.03 .03Limited

company

Shanghai

Kangjing

Equity

investment

2,755 75,89 - 2,754 75,89Fund

,506. 4,365 1,090 ,415. 4,365Partnership

70 .93 .89 81 .93Enterprise

(Yes

Limited combination

Guy)

Shanghai

3,441 16,53 - 3,431 16,53Jinyu

,008. 0,558 9,878 ,129. 0,558 Entrepreneurship

79 .87 .90 89 .87Investment

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

partnership

enterprise

(Yes

Limited combination

Guy)

Shenzhen

Municipal doctor

Yikang

22,62 22,62Yunxin

4,802 4,802 Information Technology

.76 .76Shuyou

Limited public service

Division

6,196 208,1 - 6,185 208,1 Subtotal ,515. 65,43 10,96 ,545. 65,43 49 2.59 9.79 70 2.59

6,196 208,1 - 6,185 208,1 total ,515. 65,43 10,96 ,545. 65,43

49 2.59 9.79 70 2.59

The recoverable amount is determined as the net amount after fair value minus disposal costs.

□Applicable Not applicable

The recoverable amount is determined based on the present value of expected future cash flows.

□Applicable Not applicable

Investment income

Unit: Yuan

Item Amount for the current period Amount for the previous period

Long-term equity investment income calculated using the equity method -10,969.79 -378,371.95

Investment income from trading financial assets during the holding period 4,225,268.48

Income from debt restructuring 65,330,274.78

Total 69,544,573.47 -378,371.95

17. Supplementary information

Detailed statement of non-recurring profits and losses for the current period

Applicable □Not applicable

Unit: Yuan

Item Amount Description

Gains and losses from disposal of non-current assets 107,565.01 Mainly due to gains and losses from asset disposals

Government subsidies included in current profits and losses (related to the company’s regular

Closely related to regular business operations and in compliance with national policies

5,286,350.21 Mainly government subsidies

stipulates, enjoys according to determined standards, and treats the company

Except for government subsidies that have a lasting impact on profits and losses)

Except for effective transactions related to the company’s normal business operations,

In addition to futures hedging business, non-financial enterprises hold financial

Changes in fair value of assets and financial liabilities 6,221,191.78 Mainly due to gains and losses from redemption of bank structured deposits and disposal of financial assets and financial liabilities

profit and loss

Full text of the 2026 semi-annual report of CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

Gains and losses from debt restructuring 19,703,773.38 Mainly due to restructuring gains

Enterprise restructuring expenses -19,686,078.20 Mainly due to restructuring expenses

Other non-operating income other than the above items and

612,738.40

expenditure

Less: Income tax impact -579,992.13

Amount of impact on minority shareholders’ equity (after tax) 80,816.55

Total 12,744,716.16 --Details of other profit and loss items that meet the definition of non-recurring profits and losses:

□Applicable Not applicable

The company has no other specific circumstances of profit and loss items that meet the definition of non-recurring profits and losses.

□Applicable Not applicable

Return on net assets and earnings per share

earnings per share

Profit for the reporting period Weighted average return on equity

Basic earnings per share (yuan/share) Diluted earnings per share (yuan/share) Net attributable to the company’s ordinary shareholders

0.56% 0.0042 0.0042Profit

After deducting non-recurring gains and losses, attributable to

-0.65% -0.0049 -0.0049 Net profit of the company’s common shareholders

Differences in accounting data under domestic and foreign accounting standards

(1) Differences in net profit and net assets in financial reports disclosed in accordance with both international accounting standards and Chinese accounting standards

□Applicable Not applicable

(2) Differences in net profit and net assets in financial reports disclosed in accordance with both foreign accounting standards and Chinese accounting standards

□Applicable Not applicable

CSPC Hunan Jingfeng Pharmaceutical Co., Ltd.

August 21, 2026