Through Adversity, Reaching the Stars – Shenzhen Cell Valley Holds 2024 Mid-Year Summary Meeting

On the morning of July 2, Chairman Shi Yuanyuan presided over the 2024 Mid-Year Summary Meeting. All middlemanagement and above personnel from Shenzhen Cell Valley and its wholly-owned subsidiaries attended the meeting both online and offline. Department heads presented their work reports for the first half of the year, summarizing achievements, analyzing issues, and collectively advancing key priorities for the second half.

First, the middle-management backbone presented their work accomplishments for the first half of the year. In 2024, the momentum of cell and gene therapy development continued to strengthen. Facing fierce market competition, the Cell Valley team demonstrated a courageous spirit of breakthrough, achieving notable results in market expansion, technology R&D, production processes, quality control, and team building.

During the first half of the year, the company saw rapid growth in its client base, steadily expanding from South China to the national level and even into Southeast Asia, with multiple successes in IIT, CDMO, and CRO collaborations. To date, Shenzhen Cell Valley has carried out process optimization, production, and comprehensive quality control for dozens of clinicalgrade CAR products, successfully providing high-quality CAR cell preparations targeting various targets for nearly one hundred patients across multiple top-tier tertiary hospitals. In the field of non-genetically modified cell production, the company achieved a major breakthrough in the industrial-scale production of allogeneic NK cell therapy products, which have already been successfully applied in clinical settings. In research, nearly 40 CRO projects and 30 self-initiated projects have been completed or are underway. The company also secured a key project from the Central Plain Nanozyme Laboratory, a provincial-level laboratory in Henan, collaborating with Academician Yan Xiyun's team from the Chinese Academy of Sciences on clinical research projects for novel target cell therapy, and with Academician Liu Zhihong's team from the National Clinical Research Center for Kidney Diseases to explore new applications of cell therapy in nephrology. In terms of team building, Shenzhen Cell Valley saw steady growth in staffing across all departments in the first half of the year, with training systems gradually improving. The entire company remained united in contributing to the cause of health.

Chairman Shi Yuanyuan stated that over the past six months, the Cell Valley team had worked together with determination and drive, achieving rapid growth across all aspects of the company. With the industry's prospects increasingly clear, the company should approach its work with even greater enthusiasm and a more pragmatic style, continuing to drive all initiatives forward and meet more challenges. In future development, the company will continue to regard technology R&D as its foundation, striving for more breakthroughs in key technologies, while maintaining a sustained focus on process optimization and quality control to provide clients with superior services.

In the second half of 2024, the Cell Valley team will continue to closely follow strategic goals, refine management, strengthen coordination, improve operational efficiency, face challenges head-on, and work together to build the company's high-quality development.