Clover Bio-B Strengthens Internal Controls on Share Trading After Model Code Lapses

Bulletin Express06-05

Clover Biopharmaceuticals, Ltd. (Clover Bio-B, 02197) released a supplemental announcement on 5 June 2026 detailing additional measures to bolster compliance with the Hong Kong Listing Rules’ Model Code for securities transactions by directors and relevant employees (“Grantors”).

The company acknowledged prior disclosure shortcomings highlighted in its FY 2025 Annual Results Announcement (25 March 2026) and 2025 Annual Report (23 April 2026). To prevent similar incidents, Clover Bio-B has:

• Circulated updated share-trading guidelines to all Grantors, reiterating statutory procedures and blackout restrictions.

• Introduced five new control layers: 1. Advance notification of each blackout-period schedule to all Grantors. 2. Mandatory pre-clearance from Chairman Dr. Peng Liang before any share transaction. 3. Obligation to report completed trades within one day to Dr. Liang and the company. 4. Quarterly refresher training on the Model Code and Hong Kong’s disclosure-of-interest regime. 5. Quarterly Microsoft Teams meetings involving Dr. Liang, Grantors and the Joint Company Secretary to review potential trading intentions and broader compliance matters.

Except for the above supplemental information, all other contents of the FY 2025 Annual Results Announcement and 2025 Annual Report remain unchanged. The board composition as of the announcement date is also unchanged, comprising eight directors, including two executive and four independent non-executive members.

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