HECN30227, a Class 1 new drug independently developed and globally owned by the Group, is capable of simultaneously eliminating hepatitis B surface antigen (HBsAg) derived from both cccDNA and intDNA. Preclinical data indicate that HECN30227 possesses pan-genotypic activity, efficiently reduces HBsAg levels, maintains significant efficacy against nucleoside drug-resistant strains, and demonstrates superior efficacy both in vitro and in vivo compared to clinical competitors. HECN30227 utilizes the Group's uniquely designed HEC GalNova (N-acetylgalactosamine) liver-targeted delivery system, achieving precise and efficient liver delivery while significantly reducing off-target risks. As of now, HECN30227 has completed the enrollment of the first patient in China for its clinical trial. Important research findings on the preclinical combination therapy of HECN30227 with the company's self-developed immunomodulator HEC191834 have been selected for the "Poster of Distinction" at the 2025 American Association for the Study of Liver Diseases (AASLD) annual meeting, an honor awarded only to the top 10% of scored submissions, signifying high recognition from an international authoritative academic institution for the clinical development potential of the HECN30227 combination. Since 2022, the Group has entered the small nucleic acid field, establishing a full-chain R&D platform encompassing "target discovery - sequence design and synthesis - chemical modification - delivery technology - biological evaluation," with its R&D capabilities now ranking among the top tier in China. Relying on this comprehensive technology platform, the company has filed over 50 patent applications and laid out more than 10 small nucleic acid pipelines, covering four major areas: anti-infection, cardio-renal-metabolic, respiratory, and oncology, with plans to advance multiple small nucleic acid drugs into clinical stages annually to continuously solidify its technological leadership in the small nucleic acid therapeutics field. Key preclinical candidates include: Hepatitis B ASO: Besides HECN30227, the company is concurrently developing a "siRNA + ASO + immunomodulator" triple therapy to comprehensively suppress HBV and HBsAg through multi-target synergistic effects, with its HEC ASO showing superior preclinical efficacy in vitro and in vivo compared to competitors. Dual-target series: Utilizing a "one-drug-dual-target" design to simultaneously silence two pathogenic genes or multiple regions of the same gene, providing an efficient combined intervention solution for complex diseases; several molecules in the series targeting hyperlipidemia and hyperlipidemia-hypertension have shown potent and durable activity in large animal models. Furthermore, dual-target pipelines for indications such as MASH are steadily advancing and are expected to progress to clinical stages in the future. Fat-targeting, lung-targeting, and antibody-oligonucleotide conjugate (AOC): For the ALK7 target, which is highly expressed in adipose tissue, the company's self-designed delivery vector demonstrated significantly higher ALK7 knockdown activity in mouse adipose tissue than the positive control, and several ALK7 sequences showed superior in vitro activity to the positive control. Additionally, a dual-target pipeline for treating pulmonary fibrosis (lung-targeting) and an AOC pipeline for treating cancer are progressing steadily and are scheduled to advance to clinical stages in the future. From the initiation of Phase I clinical trials for the hepatitis B siRNA therapy HECN30227 to the extensive pipeline encompassing dual-target, fat-targeting, lung-targeting, and AOC therapies, the Group is leading the innovation wave of small nucleic acid drugs in China through a multi-dimensional strategy integrating "technology + pipeline + industrialization." Moving forward, the Group will continue to strengthen its small nucleic acid technology platform, accelerate efforts to address unmet clinical needs, and deliver world-leading "Made-in-China" innovative treatment solutions to patients.