External broker reports(aggregated public sources), CMB International

CMB International

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

External broker reports(aggregated public sources)

Equity Bottom-Up

<div><div><div><div><ul><li>I-Mab recorded RMB51.9mn net revenue in 1H22, which included revenue recognized related to the collaboration with AbbVie and revenue from the supply of investigational products under the collaboration agreement.</li><li>The R&amp;D costs in 1H22 were RMB452.6mn, representing a 24% YoY decrease, which was primarily due to reduced demand for investigational products as the Company procured sufficient stock in 2021 and lower share-based compensation expenses.</li><li>Administrative expenses decreased by 13% YoY to RMB392.5mn, mainly driven by lower share-based compensation expenses. </li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

I-Mab recorded RMB51.9mn net revenue in 1H22, which included revenue recognized related to the collaboration with AbbVie and revenue from the supply of investigational products under the collaboration agreement.The R&amp;D costs in 1H22 were RMB452.6mn, representing a 24% YoY decrease, which was primarily due to reduced demand for investigational products as the Company procured sufficient stock in 2021 and lower share-based compensation expenses.Administrative expenses decreased by 13% YoY to RMB392.5mn, mainly driven by lower share-based compensation expenses. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

I-Mab BioPharma (IMAB US) – Strong Cash Balance to Fund Business Operations