Fortvita Biologics (Europe) Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Fortvita Biologics (Europe) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12768721 . The registered office is Freeths LLP, 1 Vine Street, London, W1J 0AH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The functional currency of the company is considered to be Chinese Yuan (CNY) since this is the currency that mainly influences the costs and expenses of the company. The financial statements are presented in pound sterling (£). The financial information contained herein has been prepared by translating the CNY functional currency amounts for the year ended 31 Decemeber 2025 into GBP in accordance with the guidance and procedures under FRS 102.

2.2. Going Concern Disclosure

The director has considered the company's financial position, liquidity and future performance together with financial projections for the company over the forseeable future and have also reviewed the ongoing committed financial support from the company's parent undertaking and are confident that this will be available for the forseeable future. After making enquiries, the directors are satisfied that the company has or will have sufficient resources to continue in operation for the forseeable future, being at least 12 months from the date of the approval of the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

The company currently has no source of revenue in the UK since inception. It is reliant on financial support from its parent undertaking to meet its day to day operations. Whilst management are confident that the company will commence generating revenue from its operations in the forseeable future, there are no guarantees. This indicates the existence of a material uncertainty which may cast significant doubt over the company's ability to continue as a going concern.

2.3. Significant judgements and estimations

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company's accounting policies with significant effect on the amounts recognised in the financial statements.

2.4. Financial Instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2.5. Foreign Currencies

The presentational currency of the company is considered to be pound sterling (£). The functional currency of the company is considered to be Chinese Yuan (CNY) since this is the currency that mainly influences the costs and expenses of the company. The financial statements are presented in pound sterling (£). The financial information contained herein has been prepared by translating the CNY functional currency amounts for the year ended 31 Decemeber 2025 into GBP in accordance with the guidance and procedures under FRS 102.

Transactions in currencies other than CNY are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in currencies other than CNY are retranslated into the functional currency of the company at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denomicated in currencies other than CNY are retranslated at the rates prevailing on the initial transaction dates.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Fortvita Biologics (Europe) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.8. Receivables

Receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

2.9. Payables

Payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Payables are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

2.10. Share capital

Ordinary shares are classified as equity. Equity instruments are measured at fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2.11. Share based payments

The company's parent undertaking, Innovent Biologics Inc., operates an option rights plan for its employees which entitles these employees to acquire shares in the parent undertaking. The required disclosures are therefore included in Innovent Biologics Inc. consolidated financial statements.

The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium of the parent undertaking when the shares are granted, with the expense being realised in the company's income statement.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 2)

4. Debtors

	2025	2024
	£	£
Due within one year
Amounts owed by group undertakings	24,700	25,436
Other debtors	3,567	3,920

	28,267	29,356

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Amounts owed to group undertakings	3,735,269	3,380,161
Other creditors	6,750	78,328

	3,742,019	3,458,489

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Fortvita Biologics (Europe) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
1 Ordinary Shares of £ 1.00 each	1	1

7. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost for the year represents contributions payable by the company to the scheme and amounted to £971 (2024: £11.493). There were no contributions payable to the scheme at the end of the period.

8. Post Balance Sheet Events

There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.

9. Related Party Transactions

The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of paragraph 1AC.35 of FRS102 - Small Entities not to disclose transactions with entities that are wholly owned members of the group.

There were no other related party transactions to disclose.

10. Ultimate Controlling Party

The company's immediate parent is Fortvita Biologics Inc, incorporated in the Cayman Islands. The ultimate parent is Innovent Biologics Inc, incorporated in the Cayman Islands. These financial statements are available upon request from www.innoventbio.com.

11. Audit Information

The auditor's report on the accounts of Fortvita Biologics (Europe) Limited for the year ended 31 December 2025 was unqualified.

The auditor's report was signed by William Watson (Senior Statutory Auditor) for and on behalf of Rawlinson & Hunter Audit LLP , Statutory Auditor.

Rawlinson & Hunter Audit LLP

Statutory Auditor & Chartered Accountants

Eighth Floor, 6 New Street Square, New Fetter Lane

London

EC4A 3AQ

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		2025		2024
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	28,267		29,356
Cash at bank and in hand		182,950		258,663

		211,217		288,019
Creditors: Amounts Falling Due Within One Year	5	(3,742,019 )		(3,458,489 )

NET CURRENT ASSETS (LIABILITIES)			(3,530,802 )		(3,170,470 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(3,530,802 )		(3,170,470 )

NET LIABILITIES			(3,530,802 )		(3,170,470 )

CAPITAL AND RESERVES
Called up share capital	6		1		1
Capital Contribution reserve			-		203,370
Profit and Loss Account			(3,530,803 )		(3,373,841 )

SHAREHOLDERS' FUNDS			(3,530,802)		(3,170,470)