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Investor Presentaiton

China has carried out a series of healthcare reforms and industrial promotions to improve the market environment. Key measures include adopting the Marketing Authorisation Holder (MAH) system, shortening the drug approval process, updating the medical insurance catalogue to be more supportive of innovative drugs and lowering the R&D risks and transaction costs. The policy environment has driven the capacity upgrade for APIs and medical device industries, boosting economies of scale, synergies and clustering as well as demand. Life science firms often require significant financial support in the early stages. They need to negotiate with the local government for most support or seek cooperation for a long-term win-win outcome, which depends on the nature of the investment, the company scale and potential benefits for the local economy. China Life Sciences - 2022 National Nationwide tax discounts or exemption •Specific tax cuts are available for industrial parks in certain regions, for example, Lingang New Area in Shanghai FTZ offers 15% of corporate income tax to eligible biomedicine companies in core R&D and manufacturing sections. Local •Finance: encourage innovation & development/ expand international market/ expand and improve quality/ build platforms ⚫Talent: housing subsidies/ household registration/ healthcare insurance/ education for children •Land: targeted land supply/ flexible land transfer period/production facilities on industrial land adapted for the biomedicine industry • Supervision: efficient and simplified approval procedure/ fast channel for eligible firms and projects Source: Governmental websites, Savills Research X +
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