方达控股2025年度报告

（於開曼群島註冊成立的有限公司）股份代號 : 1521 2025年 度 報 告 * 僅供識別 目錄 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9. . . . . . . . . . . . . . . . . . . . . . . . . .33. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .41. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .86. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .113. . . . . . . . . . . . . . . . . . . . . . . . . . . .119. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .121. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .123. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .125. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .127. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .244 Wells Fargo Bank, N.A. Morgan, Lewis & Bockius Wentao Zhang2025162025528Zhongping Lin2025162025528 Conyers Dill & Pearman 2025528Yin Zhuan Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands 700 Pennsylvania DriveExton, PA 19341, USA 700 Pennsylvania DriveExton, PA 19341, USA 33191920 Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands 2025630Yin Zhuan2025630 1617 1521 www.frontagelab.com 2025 202520241231254.90.7%20251231256.720251231433.720241231390.611.0% 2025 • 202516Wentao ZhangWentaoZhangZhangZhongpingLinZhongpingLinLinZhang2012QuintaraDiscovery,Inc.4Lin17FrontageLabsZhangLin 2025528ZhangLin 202571520088 • 2025546,300CRDMO(9)(GMP)(2)(2)(5)(2)(3)202510GMPIIIPPQ • 202510Frontage Labs2701,500GCP • 2025 20252026 2026330 2025 2025CRDMO AIAIAIQCQAAI 20241231254.90.7%20251231256.720251231433.720241231390.611.0% 2025922.750.10%12026257.78.3%2 2025546,300CRDMO(9)(GMP)(2)(2)(5)(2)(3)202510GMPIIIPPQ 2025AI(RFI)QCQAAI 2025 • -14 III800APIGMP2026 • IDBSELNWatsonLIMSStudyDocAI RNARNA Frontage Europe, S.r.l.20252025GLPGCP 2025FDADEAISO/IEC APIJefferiesGroup LLC7202532%2023202421%3 2025 • siRNA CAR-T GMP2025720258CNAS • • mRNA 25% Alamar NULISA HT-Argo2025 20251231(13) •(4)•(2)•(1)•(1)•(1)•(1)•(1)•(1)•(1) 20251231(10) •(4)•(3)•(1)•(2) SOPSOP FDADEACNSCPHAC(CLIA/CAP)DOHAAALACUSDA NMPA FrontageLabsZenQMSSOPKPI (SDWAN)SDWANSDWANGDPRISO27001NetSuiteSalesforce SOPUSDAFDA 20251027045,169,326100% (i)1425%100%(ii)14A5%2025101020251215 20251231 202617202633 20251231 2026 20241231254.90.7%20251231256.7 20241231198.20.3%20251231197.720241231403.556.74.4%20251231421.259.0 2024123137.215.3%2025123142.92025123116.7%2024123114.6% 2024123152.58.8%2025123157.12025123122.3%2024123120.6% 20241231185.11.3%20251231187.5 2024123169.80.9%2025123169.22024123127.4%2025123127.0%2024123129.3%2025123128.5%2024123120.7%2025123121.9% 202412314.334.9%202512312.8 202412310.2202512311.5 202412318.59.4%202512317.7 2024123147.116.8%2025123139.22024123135.114.2%2025123130.1 (i)(ii) 202412315.623.2%202512314.3 202412319.620.8%202512317.6 202412312.1128.6%202512314.8 202512316.8202412310.6202512312.6%202412310.2%20241231 2024123113.218.9%2025123115.7202512316.1%202412315.2%20251231 42024123150.08.0%2025123154.02025123121.1%2024123119.6% 52024123154.03.3%2025123155.82024123121.2%2025123121.7% 202412310.0004202512310.0034202412310.0004202512310.0033 202512310.0078202412310.006618.2%202512310.0078202412310.0066 2025123145.32024123154.316.6% 2025123123.22024123130.022.7% 2024123169.14.5%2025123172.2 2024123119.33.6%2025123118.6 8.3% 2025123136.32024123144.1 2025123111.72024123125.954.8% 2025123175.72024123195.7202512312.65%6.09%45.7211.130.0 2025123151.92024123158.7 20251231 100%202512312024123125.4%33.0% 202512311,5238456781,32120285%535 20251231107.120241231114.6 20182021 682021210202313 2001FrontageLabsFrontageLabsGreatValleyPharmaceuticals2014820184300347334715(PhiladelphiaAlliance for Capital and Technologies)(Healthcare CEO award)(Ernst & Young Entrepreneur ofthe Year Award)(Pennsylvania Welcoming Society)(Realizing the American Dream)(Asian American BusinessDevelopmentCenter)50(Outstanding50 AsianAmericans in Business)1992(McGill University) Wentao Zhang572025162025528 Zhang2024820251FrontageLabs2021720248FrontageLabsFrontage LabsZhangQuintara Discovery, Inc.Quintara DiscoveryQuintaraDiscoveryADMEGLPGLP20217Quintara DiscoveryFrontageLabsFrontageLabsQuintaraDiscoveryZhangExelixis,Inc.Zhang19992001Genelabs Technologies, Inc.19971999Zhang(University of California,Berkeley) Z h a n g1 9 9 171 9 9 35(Emory University)199612(University of Wisconsin-Madison) ZhongpingLin622025162025528 Lin2023120251FrontageLabs20172023FrontageLabs20072017F