ImmuneOnco Biopharmaceuticals (Shanghai) Inc. announced that on 18 June 2026 it entered into a Capital Increase Agreement with Jiaxing Changxin Enterprise Management L.P. and ImmuneCare Biopharmaceutical (Shanghai) Co., Ltd. (the “Target Company”). Under the agreement, Jiaxing Changxin—an employee shareholding platform—will subscribe for RMB0.33 million in new registered capital of the Target Company, representing 14.0% of its enlarged capital base.

Following the subscription, ImmuneOnco’s equity interest in the Target Company will decrease from 93.0% to 80.0%, while Jiaxing Changxin will hold the remaining 20.0%. The Target Company will remain a consolidated non-wholly-owned subsidiary of ImmuneOnco.

The Target Company, incorporated in January 2024 to develop innovative therapies for metabolic and rare diseases, recorded an unaudited net loss of approximately RMB10.10 million with net liabilities of about RMB27.80 million as at 31 December 2025.

The transaction is classified as a “deemed disposal” under Rule 14.29 of the Hong Kong Listing Rules, but all applicable percentage ratios are below 5%, and the total consideration is below HK$3 million. Consequently, it is exempt from shareholders’ approval, annual review and detailed disclosure requirements under Chapter 14A (de minimis connected transactions).

Jiaxing Changxin is deemed a connected person because it is ultimately controlled by ImmuneOnco’s chairman and CEO, Dr. Tian Wenzhi, who—together with senior manager Dr. Zheng Qian—holds 99.0% of Jiaxing Changxin’s executive partner and 71.33% of the partnership interest. Dr. Tian abstained from the Board vote on this transaction; all other directors, including independent non-executive directors, consider the terms fair and reasonable.

Net proceeds of RMB0.33 million will be retained by Jiaxing Hanning (the executive partner of Jiaxing Changxin) and earmarked for a forthcoming employee incentive scheme aimed at aligning staff interests with the Group’s long-term strategic objectives.