Our Group is a world-leading open-access biopharmaceutical CRDMO, offering end-to-end solutions for the discovery, development, and manufacturing of biopharmaceuticals. Biopharmaceuticals represent a specialized subcategory of pharmaceuticals that have brought revolutionary changes to treatment approaches for many major diseases across the globe. Our Group’s end-to-end CRDMO service platform enables us to provide comprehensive services covering the entire biopharmaceutical development process and to deliver customized solutions tailored to each client’s specific needs at any stage of biopharmaceutical development. The biopharmaceutical development process typically comprises five stages: (i) drug discovery; (ii) preclinical development; (iii) early-phase (Phase I and Phase II) clinical development; (iv) late-phase (Phase III) clinical development; and (v) commercial manufacturing. The services required throughout the biopharmaceutical development process can be categorized into two types: (1) pre-IND services, which cover the first two stages of biopharmaceutical development; and (2) post-IND services, which encompass the remaining three stages of the development process. Our Group’s business model is built on our “Follow and Win Molecules” strategy. Generally, clients’ demand for our services increases as their biopharmaceutical candidates advance through the development process and ultimately reach commercial production. Consequently, the revenue generated by our Group from each integrated project typically grows as the project progresses.