BEIJING, CHINA, May 8, 2026 – Beijing Biostar Pharmaceuticals Co., Ltd. (2563.HK, "Biostar Pharma"), a biopharmaceutical company leveraging its synthetic biology R&D platform to develop innovative anticancer drugs with proprietary intellectual property, today announced that Baheal Pharmaceutical (301015.SZ) has subscribed to 25 million new shares issued by Biostar Pharma. Upon completion of the issuance, Biostar Pharma will receive HK$100 million in subscription proceeds, and Baheal Pharmaceutical will hold an aggregate of 29,170,800 shares, representing 7.49% of the Company's total share capital. The funds will be primarily utilized to accelerate the development of the antibody-drug conjugate (ADC) technology platform, drive the translation and international collaboration of innovative projects, and further strengthen Biostar Pharma's core competitiveness in the field of oncology drug discovery.

Biostar Pharma is currently developing a proprietary ADC technology platform, pioneering the use of utidelone and its derivatives as core payload molecules, combined with Topo I inhibitors to develop dual-payload/multi-payload ADC drugs. Leveraging utidelone's potent antitumor activity, ability to overcome multidrug resistance, and favorable safety profile, the Company is establishing differentiated competitive advantages in the ADC landscape. This capital injection will provide stable financial support for the Company's ADC drug development efforts.

Furthermore, Biostar Pharma possesses extensive experience in clinical development and international collaboration, which creates strong synergies with Baheal Pharmaceutical's innovation incubation platform and industrial resources. Leveraging this capital increase as an opportunity, both parties will further integrate their respective strengths to enhance the efficiency of early-stage R&D, technology translation, and clinical advancement, with the goal of accelerating product globalization and achieving mutual empowerment.

As a cornerstone investor and strategic partner in Biostar Pharma's IPO, Baheal Pharmaceutical obtained the exclusive marketing rights for utidelone injection, a Class 1 innovative drug independently developed by Biostar Pharma, in mainland China at the end of 2024, and has continued the partnership to date. This capital increase further demonstrates Baheal's continued confidence in the commercialization prospects of Biostar Pharma's products and the Company's future development.

From early-stage investment to IPO cornerstone support, Efung Capital has remained a steadfast companion to Biostar Pharma. Baheal Pharmaceutical's deepened strategic partnership through this capital injection once again injects strong momentum into Biostar Pharma. Looking ahead, Efung Capital will continue to connect industrial resources and provide deep synergies in technology transfer, international business development, and capital operations, helping Biostar Pharma to steadily advance on the global oncology innovative drug track.