Message

Delivering life-saving drugs to patients in need around the world is our mission.

Dear Shareholders, Colleagues, and Friends,

As we welcome the New Year of 2026, I would like to extend my heartfelt gratitude for your continued trust and support for GNI Group.

Throughout 2025, we have seen remarkable progress and achievement for our organization, reflecting the strength of our science, strategy, and collaborative spirit. Guided by our mission to improve human health through innovation, we have continued to advance across three fields of pharmatech, biotech, and medtech.

Among the most important milestones of 2025 were the positive clinical results from our F351 program for liver fibrosis, demonstrating excellent efficacy and safety. These results confirm F351’s strong potential as a groundbreaking therapy for patients suffering from chronic liver disease and mark a pivotal step toward its global development and commercialization. Recently, after pre-NDA meeting with CDE of NMPA, GYRE is one step closer to its 2nd product which may have much larger impact on the Group’s future in the next 5 years than its first product Etuary.

Our subsidiary Cullgen also reached a major milestone by conducting multiple Phase 1 clinical trials in China and Australia, evaluating novel degrader-based compounds from its Targeted Protein Degradation (TPD) platform. This cutting-edge technology platform—designed to selectively remove disease-causing proteins—represents a new paradigm in drug discovery and firmly positions GNI Group at the forefront of next-generation therapeutics. I am proud to say that we finally have a complete pipeline covering from early stage technology platform, phase 1-phase 3 trials, and commercialized products. This represents GNI Group is finally evolving into an international biopharmaceutical company, as I dreamed many years ago.

In 2025, medtech group also achieved record sales after building up new leadership. But we further strengthened the medtech group through the recently announced acquisition of ZOO LABO of Japan, a company specializing in high-quality dental materials. Through this acquisition, our medtech division will increase revenue significantly in 2026. GNI’s total employee size will also increase by nearly 200 in Japan. We are continuing to fulfill our promise to build up a strong operation base in Japan because we believe Japan is encountering a historic opportunity of renewed growth. My goal is to increase our Japan-sourced revenue to a much higher percentage of the total revenue of GNI Group in the coming years even when we expect strong growth from other geographic areas outside Japan.

Throughout 2025, we also achieved strong operational and financial performance, driven by patient, disciplined execution, and continued progress toward our ESG goals. Together, these achievements have reinforced GNI Group’s foundation for sustainable growth and global impact. There will be many new challenges in front of us when we expand our operations in all three countries, Japan, China, and U.S. We must stay unwavering in our strategic direction declared more than a decade ago. We must also keep eyes open on AI and blockchain technologies that is transforming the world we are living in. Remaining at the cutting edge is not a choice but a requirement for us.

As we look ahead to  2026 with our new progress of F351 and new expansion of medtech division, I am very optimistic for this turning point year in our group history. We remain fully committed to scientific excellence, innovation, and the creation of enduring value for our patients, partners, and shareholders worldwide. We deeply appreciate your ongoing confidence and partnership. Although this message is coming few days late, may the New Year bring you and your families good health, happiness, and prosperity.

Ying Luo, PhD
Director, Representative Executive Officer, President and CEO
January 9, 2026