InnoCare Pharma Limited announced that, based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2022 and information currently available to the board of directors of the Company, it is expected that the Group will record (1) a consolidated revenue of no less than RMB 236.0 million for the six months ended 30 June 2022, representing an increase of no less than 132.2% from a consolidated revenue of approximately RMB 101.7 million for the same period in 2021, which is mainly attributable to the increase of sales of Orelabrutinib; and (2) a consolidated net loss attributable to the Company's shareholders of no more than approximately RMB 495.0 million for the six months ended 30 June 2022, representing an increase of no more than 136.4% from a consolidated net loss attributable to the Company's shareholders of approximately RMB 209.4 million for the same period in 2021, which is mainly attributable to the combined impact of the following factors: (i) the significant increase of the Group's research and development costs arising from the substantial increase in the number of the Group's products under clinical trials and the clinical trials being conducted, and (ii) the rise in net loss on foreign exchange, the main reason for which is that the Company adopts the U.S. dollar as the functional currency, while the Group's daily business activities are mainly in Mainland China, and the proceeds from the listing and additional issuance of the Company's shares in Hong Kong were mainly converted into offshore Renminbi. Accordingly, the amount of cash and bank balances dominated in the non-functional currency Renminbi of the Group is relatively high, while due to the impact of fluctuations in the exchange rate of Renminbi against the U.S. dollar in the first half of 2022, the amount of unrealized exchange losses expected to occur in the first half of 2022 will increase substantially in terms of accounting treatment.