Principal Activities

Principally engaged in the research, development, manufacture and sale of bioactive material-based beauty and health products in the People's Republic of China (the 'PRC').

Latest Results

The Group's profit attributable to shareholders for the year ended 31-12-2025 amounted to RMB 1.91 billion, a decrease of 7.2% compared with previous corresponding period. Basic earnings per share was RMB 1.8294. A dividend of RMB 0.539 per share and a special dividend of RMB 0.6714 per share was declared. Turnover amounted to RMB 5.52 billion, a decrease of 0.4% over the same period last year, gross profit margin down 1.8% to 80.3%. (Announcement Date: 19 Mar 2026)

Business Review - For the year ended December 31, 2025

The year 2025 was an extraordinary year for us. Facing a highly competitive, complex, and ever-changing industry environment, compounded by external shocks, the short- term growth of the Group moderated. However, amidst the twists and turns, we also saw opportunities demanding change and felt the trust consumers have in our brands and products. The team’s resolve and resilience are stronger than ever, enabling us to continuously achieve breakthroughs in long-term capability building. Confronting yesterday is for moving forward better; the Giant Biogene team strides with confidence into yet another spring.

During the Reporting Period, the Group’s sales revenue was approximately RMB5.52 billion, remaining largely flat year-on-year; the Group’s net profit was approximately RMB1.91 billion, a year-on-year decrease of 7.1%; the Group’s adjusted net profit was approximately RMB1.96 billion, a year-on-year decrease of 8.9%.

Deeply Rooted in Scientific Research with Unswerving Commitment

As the industry evolves, technology remains the unchanging core of competitiveness.Dedicated scientific research is our starting point and the future we continue to invest in heavily. During the Reporting Period, the Company’s research and development expenditure were approximately RMB88.8 million, accounting for 1.6% of revenue. As of the end of the Reporting Period, the Group had over 140 ongoing research projects. As of the end of the Reporting Period, the Company has been granted and applied for 209 patents, including 42 new patents granted or applied during the Reporting Period.

After years of research and development accumulation, the Group achieved a milestone with its class III medical devices. In October 2025 and January 2026, the Company’s Recombinant Type Iα1 Subtype Collagen Freeze-dried Fibers and the Recombinant Type Iα1 Subtype Collagen and Sodium Hyaluronate Composite Solution received approval from China National Medical Products Administration. This fully demonstrates our continuously leading innovation capabilities and strategic focus, officially embarking on a new journey into the vast market space of skin rejuvenation. Starting from 2026, we will accelerate the preparation for the market launch of the approved products and continue to advance the research and development and regulatory submission of subsequent pipeline products, providing strong support for the Group’s dual-aesthetic strategy.

Through continuous exploration into the research and development and industrialization of collagen technology, the Group leads the industry in pushing the boundaries of innovation. During the Reporting Period, we obtained multiple invention patents concerning the application of Type I, IV, VI, and XVII collagen in areas such as skin health, whitening, and hair health, exploring new subtypes, new molecules, and new scenarios. This provides a continuous stream of technical support for the industrial application of recombinant collagen, the Chinese-developed ingredient. Concurrently, the Group actively explored the applications of ginsenosides in scenarios like sleep health, anemia improvement and anti-fatigue, and memory enhancement, securing several exclusive patents with notable innovation and application prospects. In the

future, the Group will continue its intensive research focus on these two core ingredients, building the most solid and enduring barriers with technological achievements, while also reserving more proprietary bioactive materials.

During the Reporting Period, the Pharmaceutical Industry Standard of the PRC“Recombinant Collagen Dressing”(《重組膠原蛋白敷料》), in the drafting of which the Company participated, and the group standard“Recombinant Type IV Collagen for Cosmetics”(《化妝品用重組IV型膠原蛋白》) formulated under the lead of the Company were officially released. The Company’s Synthetic Biology R&D Center was honored with the title of“National Advanced Collective in Light Industry Sector (全國輕工行業先進集體)”, and approvals were granted for the establishment of the“Shaanxi Provincial Enterprise Technology Center (20th Batch) (第二十批陝西省企業技術中心)”and the“Shaanxi Active Substance Biomanufacturing Innovation Center (陝西省活性物質生物製造創新中心)”. These recognitions reflect our contributions to the standardization and high-quality development of the industry.

Product-Oriented, Committed to Excellence

KOMFYMED continued to strengthen its development strategy of“synergy of medical device and cosmetics (械妝協同)”. As of the end of the Reporting Period, it had formed a matrix comprising the medical device series and five functional skincare series, closely targeting consumers’skin concerns in real-life scenarios. Each series has already established a leader product in terms of mindshare or sales volume.

Within the medical device series, building on the reputation and recognition of KOMFYMED Repair Dressing accumulated over more than a decade within the professional medical aesthetics system, we have established a strong mindshare in the post-aesthetic treatment scenario and secured a leading market share position in the dressing market. During the Reporting Period, the Group expanded into more product formats, penetrating various problem-solution scenarios with categories such as lotions, creams and essence. In the future, supported by professional mindshare, professional channels, and professional leader products, we aim to achieve growth for this series.

Within the Collagen Repair Series, during the Reporting Period, the Group launched the KOMFYMED Recombinant Collagen Restoration Single-Use Essence (“Collagen Stick 2.0”). This iteration upgrade of the leader product, Collagen Stick, incorporates proprietary recombinant Type IV collagen to enhance its efficacy in scenarios like quickly fade redness, thereby improving consumer perception and trust. At the 2025 Tmall Beauty Awards (2025年天貓金妝獎), Collagen Stick 2.0 once again won the Annual Essence Award (年度精華獎) and also received the Annual Top Single Product Award (年度TOP單品獎) and the Annual Youth Choice Award (年度年輕人選擇獎). In the future, the Group will continue to invest more in brand promotion targeting gifting occasions, innovative scenarios, and brand value, continuously opening new growth avenues for Collagen Stick. In 2026, the Group plans to launch important new products within the Collagen Repair Series to offer consumers a richer repair experience.

Within the Focus Series, the leader product, Focus Cream, achieved rapid and healthy growth during the Reporting Period, establishing market recognition for the Focus Series in improving sub-healthy skin conditions. In 2026, the Group plans to launch important new products under this Series to enrich the product matrix and sustain its upward momentum. During the Reporting Period, the Group launched the new Precise and Intensive Repair Series, precisely targeting skin thermal damage and skin barrier impairment following minimally invasive aesthetic procedures like laser and light- based treatments. These products have entered high-mindshare channels such as the brand’s offline flagship stores and Sephora, contributing to an elevation of the overall KOMFYMED brand image. Furthermore, the Hydration Series targeting dry skin and the Regular Series targeting acne-prone skin have gained greater understanding and trust among consumers.

For the Collgene brand, during the Reporting Period, the Group launched Version 3.0 of its high-volume leader product, Collagen Mask King. This iteration achieved breakthroughs in formula efficacy, visual identity, and product packaging, further strengthening mindshare in the anti-aging mask category and garnering positive market feedback. In 2026, the Group plans to launch important new products under the Collgene brand and gradually reorganize and reshape the brand and its product line structure in the future.

For the Ke Yu brand, during the Reporting Period, the Group reorganized and planned its product series lines, with the positioning of a one-stop health lifestyle toolkit, adding new series such as facial and oral care, and scar care. It launched or refreshed products like Medical Recombinant Collagen Repair Dressing, Medical Recombinant Collagen Nasal Care Solution, and Recombinant Collagen Scar Repair Silicone Gel, providing more comprehensive solutions for family health care.

Brand Promotion Speaks Out with Sincerity and Resonance

Technology-driven, sincere and reliable. During the Reporting Period, the KOMFYMED brand was invited to participate in top-tier industry academic conferences, including the ICIC 2025 International Cosmetic Innovation Conference, the CSD 2025 30th Annual Meeting of Chinese Society of Dermatology, and the CDA 2025 20th Annual Meeting of China Dermatologist Association, thereby linking up with scientific consensus. It collaborated with the Cosmetic Evaluation Center of West China Hospital of Sichuan University and partnered with Umer Doctor to professionally evaluate the efficacy of Collagen Stick 2.0. Concurrently, the KOMFYMED brand launched the second season of Empty Bottle Recycling Program, contributing to sustainable development and rural education aspirations; initiated the first Journey of Restoration and Regeneration, experiencing the vitality of cultural heritage; and partnered with YAN LAB to start a new journey of taking domestic brands overseas in the romantic capital.

A year of“Reconfiguration”, a new chapter in Self-pleasure. During the Reporting Period, the Collgene brand, with“reconfiguration”as its central theme, organized activities including identity exploration, energy balance, emotional care, and open mic sessions to fully establish a physical and mental connection with consumers. It participated in industry events such as the CAME Summit, the Mevos Congress, and the IMAAC, and collaborated with Xiaohongshu for a session by session ingredient education initiative, building a foundation of technology and trust.

Nurturing companionship, beauty and warmth. During the Reporting Period, the Ke Yu brand underwent a revitalization and upgrade, opening a new chapter in its brand development. Ke Yu planned a series of activities centered on family moments, companionship moments, and healing moments, projecting glimmers of health and beauty into daily life experiences. In offline events, Ke Yu engaged with university campuses, urban street corners, specialized hospitals, and industry exhibitions, responding to expectations with professionalism and building a brand perception of reassurance and trust for consumers.

Channel Change, Moving Forward with Breakthrough

During the Reporting Period, the Group further deepened the dual-track offline presence in both professional and mass channels, solidifying its endorsement by opinion leaders and optimizing the service experience. As of the end of the Reporting Period, the Group’s brands and products had entered approximately 1,700 public hospitals, approximately 3,000 private hospitals and clinics, more than 130,000 chain pharmacies, and approximately 6,000 CS/KA stores. In shopping malls, the KOMFYMED brand stores expanded from Northwest China to East China and North China, with a total of 32 stores opened by the end of the Reporting Period. Continuous iterations in product display and store operations helped refine the store model. In overseas markets, during the Reporting Period, the KOMFYMED brand expanded its presence by entering Watsons in Singapore and Malaysia, Shilla Duty Free in Seoul, South Korea, and online channels in North America, reaching consumers around the world.

For the online channel, the Group implemented a differentiated operational strategy.On the Tmall platform, we focused on deep cultivation of user value, with brand and product mindshare forming the Group’s foundation and long-term focus. On the Douyin platform, we leveraged multi-account live streaming to mitigate external fluctuations, relying on user and platform insights to refine content and advertising placement.On the JD.com platform, we fully developed professional scenarios to enhance the value derived from trust and consumer behavior, achieving steady business growth.Admittedly, the Group also recognized that traditional dividends are no longer available, and the uncertainty of external traffic has become pronounced. Healthy and sustainable growth will stem from undertaking difficult but fundamentally sound initiatives. The Group will increase investment in its self-operated system, more firmly implement the construction of independent, controllable, and multi-channel operations, and coordinate with the launch and promotion of multiple new products this year to form a balanced, high-quality business structure.

During the Reporting Period, the Group’s direct sales channel revenue amounted to approximately RMB4.14 billion, accounting for 74.9%; the distribution channel generated revenue of RMB1.38 billion, accounting for 25.1%.

Committed to Society, Delivering Goodwill

Undertaking social responsibility is the initial intention and duty of the Group, and we hope to practice the corporate value of technology for good through each of our initiatives. During the Reporting Period, the Group carried out more than 10 public welfare and environmental protection activities to convey goodwill and hope. The Group partnered with non-profit social organizations to carry out several donation campaigns, bringing warmth and care to people from all walks of life. Together with its major brands, the Group continued to participate in public welfare activities such as the 19th National Skincare Day on 25 May, the 8th China Acne Week and World Psoriasis Day, so as to convey scientific and healthy skin care concepts to the public and contribute to the advancement of dermatological health. The Group launched the second phase of KOMFYMED Empty Bottle Recycling Program, introduced replacement cores for various products, and partnered with Ant Forest to carry out hiking activities, and actively implemented the environmental protection advocacy.

Business Outlook - For the year ended December 31, 2025

The resilience of an enterprise lies not only in its ability to ride the waves during favorable times, but is also deeply rooted in its composure and perseverance amidst volatility. The challenges and difficulties of 2025 made us realize: The development of a brand and enterprise will not always be smooth sailing. Adversity is never an end, but a starting point for gathering strength and setting off again. Especially in times of difficulty and challenge, we must remain true to our original aspiration, stay optimistic, and move forward with firm resolve. We believe that the underlying logic for our future growth remains unchanged, our core advantages are still solid, and new business segments and growth drivers are becoming increasingly clear. In 2026, the Company’s goal is to return to growth, and the Group will be extremely focused on every aspect of value creation to achieve a comprehensive leap forward.

R&D and Innovation: We are advancing full steam ahead in the R&D and mass production of innovative raw materials, providing a continuous stream of synthetic biology ingredients to support the Company’s future development in the serious medical, consumer medical and health sectors. We are accelerating the approval and registration of Class III medical devices to build long-term technological barriers and a robust product pipeline.

Products and Brands: The product team aims to develop a replicable capability for creating blockbuster products, continue to innovate and launch new products. The brand team, guided by its own brand philosophy and values, conducts authentic, professional and efficient brand promotion activities. At the group level, we continue to implement the dual-track brand strategy of B2C (delivering professional value) and C2B (responding to user needs), and build a diversified brand matrix.

Channels and Operations: Online e-commerce focuses on deepening our owned brand operations and building a network of key opinion leaders (KOLs) who highly align with the brand positioning and target audience to create a healthy and sustainable online sales ecosystem. The offline team adheres to the dual-track strategy of leveraging trust endorsement in medical channels and value expansion in consumer channels, further consolidating a nationwide network covering professional to mass markets.

Emerging Business Segments: We are committed to making a strong impact with the launch for Giant Medical Aesthetics. We are proactively incubating new brands such as Leeyen. We are promoting an overseas expansion strategy covering channels, brands, organization and industrial ecosystem.

Plants thrive and flourish; a promising spring awaits. The Group will strive relentlessly for the long-term value we share, with clear strategies, focused execution and an open mindset.

Source: Giant Biogene (02367) Annual Results Announcement