On January 18, 2022, Mabwell (Shanghai) Bioscience Co., Ltd. (hereinafter referred to as "Mabwell") was formally listed on the STAR Market of the Shanghai Stock Exchange. The stock abbreviation is "Mabwell Bioscience", and stock code 688062. At an offering price of RMB 34.80 /share. Mabwell issued 99.9 million common shares and raised RMB 3.477 billion. The fund raised will be used for the construction of 1,000 kg per annum antibody industrialization project, antibody drug R&D and working capital.

Mr. Tang Chunshan, Chairman of Mabwell, said: "Mabwell is a very young company, but it has established a highly competitive core innovation capability in a very short time, which is reflected by the deep understanding of biotechnology innovation, the forward-looking product pipeline layout, and the diversified innovation technology platforms. We have set-up our footprints in industrialization and marketing in a very short time. Mabwell’s rapid growth is solidly backed by our efficient and complementary core management team. We must combine cutting-edge technological innovation and steady business operation, which are equally important for a technology company to win in the challenging and competitive biotechnology sector. "

Mr. Peng Song, Executive deputy director of Shanghai Science and Technology Innovation Promotion Center, Member of the Standing Committee of the Pudong New Area Committee, said: "An innovative biopharmaceutical company established and growing in Zhangjiang, Mabwell leverages on the advantages of scientific facilities, talents, policies and other innovative resources in Zhangjiang science city and becomes a biopharmaceutical company with remarkable innovative achievements with its efficient innovation ability, forward-looking industrial layout and global oriented commercial transformation system. The successful IPO of Mabwell on STAR Market is an important milestone. I hope Mabwell will take this as the starting point, make continuous innovation and make new achievements in future."

Dr. Liu Datao, Co-founder, Director and General Manager of Mabwell, said: "A company with less than 5 years history, Mabwell is the 13th biopharmaceutical company listed according to the Fifth Set of Standards and one of the youngest biopharmaceutical enterprises listed on the science and innovation board. Since its establishment, we have achieved extraordinary results in various fields: Mabwell was acknowledged by the regulators and the market, especially in the increasingly strict STAR Market approval environment, because of our mature and sustainable innovation and R&D platform, rich product pipelines and global production and commercial transformation capabilities. We are committed to becoming a leading and world-renowned Chinese innovative biopharmaceutical enterprise. Today's IPO on the STAR Market is a new starting point for Mabwell. We will continue to focus on innovation, create value for the government, shareholders and employees, and fulfill our social responsibility. "