InnoCare Sets up Specific Environment Management Target in its Fifth ESG Report

Beijing, April 26, 2024 – InnoCare Pharma (HKEX: 09969; SSE: 688428), a leading biopharmaceutical company focusing on the treatment of cancer and autoimmune diseases, announced today the release of its 2023 Environmental, Social, and Corporate Governance (ESG) report. This marks the fifth year InnoCare has issued its ESG report, and the first year InnoCare has set up specific environmental management targets.

In the 2023 ESG Report, the Company committed to a 10% reduction in its greenhouse gas emissions, energy use intensity, and industrial wastewater discharge respectively by 2028, based on 2023 levels.

To achieve these targets, InnoCare has developed a series of environmental protection measures, including reducing energy consumption, optimizing production processes, and decreasing pollutant emissions, in order to achieve green production and minimize the environmental impact resulted from the production process.

In addition to environmental protection responsibility, InnoCare has continuously enhanced other responsibility systems, namely corporate governance responsibility, product and service responsibility, talent development responsibility, corporate social responsibility, and actively communicated with various stakeholders to identify ESG issues and improve the ESG management level.

Dr. Jasmine Cui, Co-founder, Chairwoman and CEO of InnoCare said, “As the worldwide standard of measuring the long-term development of enterprises, ESG has received widespread attention and recognition. Biopharmaceuticals are relevant to the people's health, featuring long research and development cycles and high social responsibility, which are highly consistent with the core philosophy of ESG. InnoCare has adhered to the mission of ‘science drives innovation for the benefit of patients’, committed to developing innovative drugs in cancer and autoimmune diseases to meet unmet medical needs, continuously fulfilling our commitments to all stakeholders.”

Due to good ESG performance in 2023, InnoCare has won a variety of ESG awards provided by leading media outlets, such as "China’s Top 20 Listed Pharmaceutical Companies in ESG Competitiveness in 2023" awarded by Healthcare Executive, and the "2023 Golden Kirin Award - Most Socially Responsible Pharmaceutical Company" presented by Sina Finance.

For more information, please refer to the full text of InnoCare’s 2023 ESG report.

About InnoCare

InnoCare is a commercial stage biopharmaceutical company committed to discovering, developing, and commercializing first-in-class and/or best-in-class drugs for the treatment of cancers and autoimmune diseases with unmet medical needs in China and worldwide. InnoCare has branches in Beijing, Nanjing, Shanghai, Guangzhou, Hong Kong, and the United States.

InnoCare Forward-looking Statements

This report contains the disclosure of some forward-looking statements. Except for statements of facts, all other statements can be regarded as forward-looking statements, that is, about our or our management's intentions, plans, beliefs, or expectations that will or may occur in the future. Such statements are assumptions and estimates made by our management based on its experience and knowledge of historical trends, current conditions, expected future development and other related factors. This forward-looking statement does not guarantee future performance, and actual results, development and business decisions may not match the expectations of the forward-looking statement. Our forward-looking statements are also subject to a large number of risks and uncertainties, which may affect our short-term and long-term performance.