Lepu Biopharma Co., Ltd. (stock code: 2157) has entered into a CDMO Services Framework Agreement with Lepu Medical on November 28, 2025. Under this agreement, Lepu Biopharma will provide contract development and manufacturing (CDMO) services for Lepu Medical’s GLP-1 and related product development needs.

The arrangement will run from January 1, 2026, to December 31, 2026, with a proposed cap of RMB18.2 million. The company cited its GMP-compliant bioreactor production line and established production management team as key drivers for this collaboration, expecting to more effectively utilize excess manufacturing capacity while supporting Lepu Medical’s clinical and production requirements.

Because Lepu Medical holds approximately 12.49% of Lepu Biopharma’s issued share capital, the transaction constitutes a continuing connected transaction under Chapter 14A of the Listing Rules. Relevant percentage ratios remain below 5%, so the agreement is subject only to reporting, announcement, and annual review requirements, without necessitating shareholders’ approval.