BINHAI INV (02886) announced that on January 13, 2026, the company (via the Buyer) will fully acquire Hejiya. The Buyer, Chia Tai Pharmaceutical Investment (Beijing) Co., Ltd. (a wholly-owned subsidiary of the company), entered into a sale and purchase agreement with the Sellers (collectively referring to the existing shareholders of Hejiya as of the agreement date), the Founders (Kunyuan Cui and Tao Guan), Hejiya, the Guangzhou Subsidiary (Guangzhou Hejiya Biomedical Technology Co., Ltd.), the Xiamen Subsidiary (Xiamen Ganbaoli Biomedicine Co., Ltd.), and the Shanghai Subsidiary (Shanghai Heyi'an Biomedicine Co., Ltd.). According to the sale and purchase agreement, the Sellers conditionally agreed to sell, and the Buyer conditionally agreed to acquire, 100% of the equity in Hejiya for a maximum base consideration of RMB 12 million (subject to downward adjustment), to be paid partly in cash and partly in consideration shares. Upon completion of the transaction, Hejiya will become an indirectly wholly-owned subsidiary of the company.

Hejiya is a pioneering biomedical enterprise focused on the research and development of innovative small interfering RNA (siRNA) drugs, having established an integrated innovative drug development system spanning from target discovery to clinical proof-of-concept (POC), with a strategic focus on three major chronic disease areas: weight-loss and metabolism, cardiovascular and cerebrovascular diseases, and neurological system disorders. This forward-looking strategic acquisition will accelerate the Group's innovative layout and clinical advancement in the chronic disease sector, positioning it to lead the next generation of innovative therapies for the benefit of patients worldwide.

Chronic diseases have become the primary threat to global public health, yet existing therapies commonly suffer from systemic shortcomings such as limited efficacy, safety risks, and low patient adherence, leaving a vast unmet clinical need. siRNA technology, with its advantages of directly targeting "undruggable" targets and offering long-lasting effects, holds promise for addressing the pain points of traditional chronic disease treatment models, presenting broad application prospects; the total value of globally disclosed transactions in the siRNA field exceeded $35 billion in 2025, with a year-on-year growth rate of over 40%.

As a pioneer in innovative siRNA drug R&D, Hejiya has successfully overcome delivery technology bottlenecks for multiple tissues, achieving precise targeting of the liver (single-target/dual-target), nerves, lungs, kidneys, adipose tissue, and others, resulting in long-lasting silencing of target genes from a single administration. Its significantly superior efficacy, durability, and safety have been validated by both preclinical studies and clinical trials. Through this acquisition, the Group will build a next-generation innovative pipeline for cardiovascular treatment, strengthen its position in the weight-loss and metabolism field, and expand into new territory within the trillion-yuan chronic disease management market.

Hejiya has successfully developed differentiated delivery platforms covering multiple tissues, all with independent intellectual property rights. Its core platform, MVIP (Multi-Valent Import Platform), is the world's first clinically validated liver-targeted delivery platform capable of enabling ultra-long-acting dosing with "one injection per year," addressing the most challenging issue of adherence in chronic disease treatment. The DDP (Dual Delivery System) technology overcomes the industry challenge of sub-additive efficacy (1+1<2) for dual targets and can be applied to various tissues, holding future potential for treating complex or refractory diseases mediated by multiple mechanisms. The NSDP (Neuro System Delivery Platform), a nerve-targeted delivery platform, can target the central or peripheral nervous systems, with its intrathecal delivery technology aiming for a "once-yearly" dosing frequency. Furthermore, development of Antibody-Oligonucleotide Conjugates (AOC) technology is also accelerating, promising more convenient dosing methods.

This acquisition will fully leverage Hejiya's leading advantages in sequence design and screening, delivery systems, and chemical modifications, creating deep complementarity and synergistic effects with the Group's mature experience in molecular formats, patent strategy, and clinical translation. The two parties will collaborate to accelerate the development of extra-hepatic siRNA delivery platforms, lead the development of next-generation core treatment pathways, and enhance the Group's global competitiveness in the siRNA field.

Hejiya possesses 4 clinical-stage assets and over 10 preclinical assets, all with first-in-class and best-in-class potential. This acquisition will enrich the Group's internationally competitive innovation pipeline and, by leveraging its strengths in clinical development, regulatory submissions, business development, and commercialization, accelerate the clinical advancement and international market collaboration for Hejiya's core assets, fully unlocking their potential global value.

Kylo-11: The world's first ultra-long-acting Lp(a) siRNA designed for once-yearly dosing, currently in Phase II clinical trials for treating elevated Lipoprotein(a) levels. Its Phase I data was presented orally at the 2025 American Heart Association (AHA) Scientific Sessions, demonstrating best-in-class potential in efficacy and durability compared to similar investigational drugs globally, requiring a lower dose with a favorable safety profile. Over 1.4 billion people worldwide have elevated Lp(a) levels (>50 mg/dL), facing increased risk of atherosclerotic cardiovascular disease (ASCVD), yet Lp(a) levels cannot be improved through lifestyle changes like exercise or diet, creating an urgent need for clinical intervention. Currently, no approved drugs exist globally to lower Lp(a), representing a massive unmet clinical need.

Kylo-12: An APOC3 siRNA with global best-in-class potential, aiming to be an ultra-long-acting product with a dosing regimen of once every six months (or longer intervals). Phase II clinical trials are expected to commence in the first half of 2026 for treating Hypertriglyceridemia (HTG) and Familial Chylomicronemia Syndrome (FCS). The crude prevalence of HTG in adults globally is as high as 29.6%, and patients inadequately responding to traditional therapies urgently need products with higher efficacy; APOC3 siRNA therapy holds promise for breaking the treatment impasse and filling a market gap.

Kylo-0603: The world's first THR-β small molecule agonist achieving specific liver targeting via GalNAc conjugation, potentially offering better efficacy and safety at lower doses, providing a new oral option for fat reduction, muscle preservation, and Metabolic dysfunction-Associated Steatohepatitis (MASH). Its Phase II clinical trials are expected to commence in the first half of 2026.

In 2026, Hejiya plans to advance multiple innovative projects into the clinical stage, covering nerve-targeting products and intra-hepatic single/dual-target products. Among them, HJY-10 (INHBE siRNA) is planned for obesity treatment, HJY-02 (APP siRNA) is planned for Alzheimer's disease treatment, and HJY-21 (PCSK9 dual-target siRNA) is planned for cardiovascular disease treatment.