Qyuns Therapeutics will hold its 2025 annual general meeting on 29 May 2026 in Taizhou, Jiangsu. The circular released on 8 May 2026 sets out eleven principal resolutions. Key points are:
• No 2025 Dividend The Board confirms the Company recorded no distributable profit as at 31 Dec 2025; therefore no dividend or other profit distribution is proposed.
• Change in Use of IPO Proceeds Of the HK$163.30 million net raised in the March 2024 Hong Kong listing, HK$51.60 million has been spent. The remaining HK$111.70 million is proposed to be reallocated, with HK$33.00 million earmarked for the new pipeline asset QX027N and reductions in previously budgeted CMC and early-stage research items. Target completion dates extend to 2028 for core products QX002N and QX005N and to 2026 for early-stage programmes.
• Auditor and Fees KPMG is proposed to remain as international auditor for 2026. The fee is set at RMB2.30 million (before tax and disbursements).
• Directors’ and Supervisors’ Remuneration (2026) Non-executive director Yu Xi: HK$0.50 million; each independent non-executive director: HK$0.30 million. Executive directors and supervisors who are Company employees will continue to be paid according to their management positions.
• Capital Mandates – General mandate to issue new shares (including treasury shares) up to 20% of issued capital (approximately 44.91 million H Shares). – Share buy-back mandate up to 10% of issued H Shares (approximately 22.46 million shares, excluding treasury shares).
• Governance Restructure In line with the amended PRC Company Law effective 1 July 2024, the Supervisory Committee will be dissolved. An Audit Committee under the Board will assume its statutory duties. Related amendments to the Articles of Association and meeting rules are proposed.
• 2026 Share Incentive Scheme – Valid for 10 years; aggregate issuance cap 10% of issued share capital (22.46 million H Shares). – Within that, grants to service providers are capped at 1% of issued shares (2.25 million H Shares). – Eligible participants: employees (including directors), service providers and related-entity participants. – Awards may be options or restricted share units; minimum 12-month vesting period, with exceptions only for defined no-fault departures, make-whole grants or performance-linked structures. – Exercise price for options will not be below the higher of (i) closing price on grant date, (ii) five-day average closing price and (iii) par value. – Claw-back applies for misconduct, material misstatement or fault departure. Shares may be satisfied by new issue, transfer of treasury shares or on-/off-market purchase.
• Other Agenda Items Shareholders will vote on the 2025 work reports of the Board and the (soon-to-be-dissolved) Supervisory Committee, 2026 director fee schedule, and routine authorisations to handle post-meeting filings.
The Board recommends shareholders to approve all resolutions. The register of members will be closed from 26 to 29 May 2026 (both days inclusive) for AGM eligibility.
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