The Board announced that on 7 November 2022, Sinco Pharmaceuticals Holdings Limited entered into the Secret Needle Technological Development Agreements with Beijing Nuokangda to cooperate in the research and development of the secret needle and the secret needle polycaprolactone filling material for the Company at a Consideration of RMB 53,000,000. Term of the agreement from 7 November 2022 to 6 November 2027. Beijing Nuokanda is responsible for providing technology development services to Sichuan Sinco for the research and development of secret needle (1 year type).

Consideration RMB 47,000,000 (comprising research and development fees for equipment of RMB 22,000,000 and clinical research fees of RMB 25,000,000) and RMB 6,000,000 as research and development fees.