Exhibit 99.2

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

ASCENTAGE PHARMA GROUP INTERNATIONAL

亞盛醫藥集團

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 6855)

ANNOUNCEMENT OF UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED JUNE 30, 2026

The Board is pleased to announce the unaudited consolidated results of Ascentage Pharma Group International for the six months ended June 30, 2026, together with the comparative figures for the six months ended June 30, 2025.

MANAGEMENT DISCUSSION & ANALYSIS

OVERVIEW

We are a global, commercial-stage, integrated biopharmaceutical company engaged in the discovery, development, and commercialization of novel, differentiated therapies to address unmet medical needs in cancer.

Our two approved oncology drug products, Olverembatinib and Lisaftoclax, were developed by the Company to treat multiple major hematologic malignancies as well as solid tumors that occur globally. Currently, for hematologic malignancies, Olverembatinib is directed toward or intended to address chronic myeloid leukemia, or CML, and acute lymphocytic leukemia, or ALL, and Lisaftoclax is directed towards or intended to address chronic lymphocytic leukemia, or CLL, small lymphocytic lymphoma, or SLL, acute myeloid leukemia, or AML, and higher-risk myelodysplastic syndrome, or HR-MDS. These particular hematologic diseases alone are expected to exceed US$166 billion in aggregate market size by 2035, according to an industry report commissioned by us and independently prepared by Frost & Sullivan, or the F&S Report.

Our first product, Olverembatinib, is a novel, third-generation tyrosine kinase inhibitor, or TKI, that was the first BCR-ABL1 TKI approved in China for treatment of patients with CML in chronic phase, or CML-CP, with T315I mutations, CML in accelerated phase, or CML-AP, with T315I mutations, and CML-CP that is resistant and/or intolerant to first and second-generation TKIs. We are currently commercializing Olverembatinib in China. Since January 2025, all approved indications of Olverembatinib by the CDE have been included in the NRDL, which bolstered the affordability and accessibility of the drug in China. We are currently conducting an FDA and European Medicines Agency (EMA)-cleared, global Phase III registrational trial, called POLARIS-2, of Olverembatinib in patients with CML that has previously been treated with at least two TKIs, and currently conducting an FDA and EMA-cleared, global Phase III registrational trial, called POLARIS-1 of Olverembatinib in patients with newly diagnosed Philadelphia chromosome-positive (Ph+) ALL. In addition, we are conducting multinational Phase III registrational trial for patients with succinate dehydrogenase- (SDH-) deficient gastrointestinal stromal tumor (GIST) (POLARIS-3).

Our second product, Lisaftoclax, is a novel Bcl-2 inhibitor whose approval we announced on July 10, 2025, by the NMPA for the treatment of adult patients with CLL/SLL who have previously received at least one systemic therapy including BTK inhibitors. This milestone makes Lisaftoclax the first Bcl-2 inhibitor receiving conditional approval and marketing authorization for the treatment of patients with CLL/SLL in China, and the second Bcl-2 inhibitor ever to be commercially approved. We are also currently conducting four registrational Phase III clinical trials of Lisaftoclax: (1) the global GLORA study of Lisaftoclax in combination with BTK inhibitors in patients with CLL/SLL previously treated with BTK inhibitors for more than 12 months with suboptimal response, (2) the multinational GLORA-2 study in combination with acalabrutinib in patients with newly diagnosed CLL/SLL, (3) the multinational GLORA-3 study in combination with azacitidine, or AZA, in elderly and unfit patients with newly diagnosed AML; and (4) the global GLORA-4 study in combination with AZA in patients with newly diagnosed HR-MDS.

Our central strategy has been to leverage our expertise in chemistry to synthesize inhibitors targeting proteins and pathways that drive the key hallmarks of cancer. Beyond our two leading products, we have several other clinical-stage assets in U.S., Chinese, and international clinical trials. As of the date of this announcement, we have utilized our knowledge of small-molecule discovery together with our ability to execute clinical trials globally to develop novel treatments to address unmet medical needs in cancer. Supported by our strong scientific foundation, we use state-of-the-art technologies to discover and develop innovative therapeutic agents directed toward underserved patient populations.

We leverage our technical expertise in structure-based drug design and our innovative drug discovery engine, which allows us to address unmet medical needs by targeting key apoptotic pathways and tyrosine kinases that have been validated in the field. These core competencies have allowed us to develop small-molecule and disease target degrader candidate therapeutics against a range of well-characterized apoptotic targets including Bcl-2, Bcl-2/Bcl-xL, inhibitor of apoptosis protein (IAP), and mouse double minute homolog-2-tissue protein 53 (MDM2-p53). In addition, we are building next-generation cell signaling inhibitor candidates (i.e., BCR-ABL1, ALK, FAK, ROS inhibitors) as well as epigenetic-modifying agents (i.e., Polycomb Repressive Complex-2 PRC2 inhibitor). In earlier stages of our pipeline, we are harnessing our deep understanding of protein degraders to develop a wide range of therapeutic candidates, specifically proteolysis targeting chimera molecules, or PROTACs, that target traditionally undruggable proteins implicated in oncogenesis. We believe that we are the only company in the world with active clinical programs targeting all three known classes of key apoptosis regulators, including Bcl-2 family, IAPs, and the MDM2-p53 pathway.

We have built a global intellectual property portfolio. As of June 30, 2026, we have 537 issued patents globally, which includes 25 new patents issued during the reporting period. Of these patents, 395 were issued outside of China.

We have also established collaborations and other relationships with leading biotechnology and pharmaceutical companies around the world, including a collaboration and license agreement with Innovent as well as clinical collaboration agreements with AstraZeneca and Merck & Co.. Our research and development collaborations with leading research institutions include Dana-Farber Cancer Institute, Mayo Clinic, MD Anderson Cancer Center, and the University of Michigan, as well as the National Cancer Institute.

BUSINESS OVERVIEW

Product Pipeline

The following table summarizes our clinical-stage pipeline consisting of seven small-molecule drug candidates, including ongoing trials of Olverembatinib and Lisaftoclax for oncology indications beyond those currently approved in China, along with the development status of each candidate, as of June 30, 2026:

Core Product Candidate

Olverembatinib (HQP1351)

Our first product, Olverembatinib, is a novel, third-generation TKI and the first BCR-ABL1 TKI approved in China for the treatment of patients with CML-CP with a T315I mutation, CML-AP with a T315I mutation, and CML-CP that is resistant and/or intolerant to first and second-generation TKIs. The T315I (“gatekeeper”) mutation confers resistance against imatinib and all second-generation TKIs. Olverembatinib received support from China’s National Major New Drug Discovery and Manufacturing Program. Since January 2025, all approved indications of Olverembatinib have been covered by China’s NRDL, which bolstered the affordability and accessibility of the drug in China.

As of the date of this announcement, the FDA has granted four Orphan Drug Designations (ODDs) for Olverembatinib, including in CML, ALL, AML, and GIST, as well as Fast-Track Designation for treatment of patients with CML and certain genetic markers that has failed to respond to treatments with existing TKIs. Olverembatinib was also granted an Orphan Designation by the EMA for the treatment of CML. Olverembatinib was included as an Emerging Treatment Option in the 2024 National Comprehensive Cancer Network (NCCN) USA guidelines for the management of CML and in the updated 2025 European LeukemiaNet recommendations. In addition, Olverembatinib has been included in the 2025 edition of the Chinese Medical Association’s Guideline for the Diagnosis and Treatment of Chronic Myeloid Leukemia in China , the 2025 edition of the Chinese Anti-Cancer Association (CACA) Guidelines for Holistic Integrative Management of Cancer, and the 2025 edition of the Chinese Society of Clinical Oncology (CSCO) Guidelines.

The following table summarizes registrational trials that were completed or ongoing worldwide for Olverembatinib:

The recent progress of Olverembatinib is as follows:

Commercial progress

Clinical progress

Updated Clinical Data Highlights

A Phase Ib study provided the first evidence that olverembatinib is active in patients with ponatinib– and/or asciminib-resistant CML-CP, including those harboring challenging genotypes such as ASXL1 mutations, highlighting its potential as a treatment option for patients with multi-line TKI-resistant disease. ASXL1 mutations confer a poor prognosis and increased risk of disease progression. Among 22 patients with ponatinib– and/or asciminib-resistant CML-CP, ASXL1 mutations were detected in 40.9% (9/22) of patients. After Olverembatinib treatment, 44.4% (4/9) of patients with ASXL1 mutations achieved clinical responses, including 22.2% (2/9) achieving major molecular response (MMR) and one achieving MR4.5.

A prospective, multicenter, controlled trial enrolled 105 patients with CML-CP who had received at least two prior TKIs for ≥18 months and failed to achieve MMR. Patients were assigned in a 1:2 ratio to either switch to Olverembatinib or continue their most recent TKI therapy (control group). Results showed that the 6-month MMR rate was significantly higher in the Olverembatinib group than in the control group (54.3% vs 10.0%; P<0.001). At 12 months, the cumulative incidence of MMR was 57.14% in the Olverembatinib group compared with 21.43% in the control group (P<0.0001). Common grade 3/4 hematologic treatment-emergent adverse events (TEAEs) included thrombocytopenia (42.86%) and anemia (17.14%). Grade 3/4 nonhematologic adverse events were infrequent. Notably, 78.57% of adverse events related to prior TKI therapy improved after patients switched to Olverembatinib. These findings support Olverembatinib as a potential standard of care for patients with CML-CP previously treated with at least two TKIs.

Updated results from Part 1 (dose escalation) of POLARIS-1, a global phase 3 study of Olverembatinib combined with low-intensity chemotherapy in patients with newly diagnosed Ph+ ALL, demonstrated a minimal residual disease (MRD)-negative complete response (CR) rate of 63.0% after three cycles of induction therapy as well as a favorable safety profile.

Findings from a phase Ib study demonstrated that the chemotherapy-free dual oral regimen of Olverembatinib combined with Lisaftoclax may offer a novel therapeutic option for pediatric patients with relapsed/refractory (R/R) Ph+ ALL A total of 17 patients were enrolled, and 40% harbored ABL1 mutations, including T315I. Among nine efficacy-evaluable patients, the combination achieved an overall response rate (ORR; CR + CR with incomplete hematologic recovery CRi) of 88.9% and an MRD-negativity rate of 66.7% (8/12 at cycle 2 day 28), A total of 93.3% of patients (14/15 at cycle 2 day 28) achieved MMR or better. Both agents were detectable in cerebrospinal fluid (CSF), providing evidence of central-nervous-system (CNS) penetration, and demonstrated activity across ABL1 mutation subgroups. The regimen showed a manageable safety profile, with no treatment-related deaths.

The latest data from a Phase Ib study evaluating Olverembatinib in combination with bispecific T-cell engager antibody blinatumomab demonstrated that the combination regimen conferred encouraging clinical activity in patients with R/R lymphoid blast phase chronic myeloid leukemia (CML-LBP) or Ph+ B-cell precursor ALL (Ph+ BCP-ALL), with a total of 91% (10/11) of patients achieving CR or CRi. In addition, 67% (8/12) of patients achieved BCR::ABL1 negativity by PCR (≤0.01%), and 80% (8/10) achieved MRD negativity by flow cytometry (≤0.01%). The combination regimen demonstrated a manageable safety profile, with most adverse events (AEs) being grade 1-2, consistent with the known toxicities of each agent.

Updated data in 47 patients with CML-CP demonstrated that Olverembatinib may provide a safe and effective second-line treatment for patients with CML-CP, especially those with disease without the T315I mutation that had failed on first-line treatment with second-generation TKIs. As of January 14, 2026, among 42 evaluable patients, 76.2% (32/42) had achieved complete cytogenetic response (CCyR) and 47.6% (20/42) achieved MMR. Responses continued to improve with longer treatment duration: at cycle 24, the best CCyR rate reached 91.3% and the best MMR rate, 60.9%. In patients with CML-CP that had failed first-line treatment with second-generation TKIs, Olverembatinib demonstrated a CCyR rate of 81.3% and an MMR rate of 50.0%.

Updated clinical and translational results of Olverembatinib in patients with SDH-deficient tumors revealed that Olverembatinib inhibits fatty acid-promoted tumor cell migration by targeting the p38-MAPK-CD36 pathway, providing further insight into its mechanism of action in SDH-deficient tumors. Among 26 patients with SDH-deficient GIST, 6 (23.1%) patients experienced partial response (PR) as the best response, with a median progression-free survival (PFS) of 25.7 months; among 6 patients with SDH-deficient paraganglioma, best responses were observed in 4 patients, with stable disease (SD) lasting ≥ 4 cycles (clinical benefit rate, 66.7%) and a median PFS of 8.25 months.

Expected Progress of Olverembatinib

Key Products and Pipeline Candidates

Lisaftoclax (APG-2575)

Lisaftoclax is a novel, oral Bcl-2 inhibitor developed to treat a variety of hematologic malignancies and solid tumors by selectively blocking Bcl-2 to restore the normal apoptotic (programmed cell death) process in cancer cells. In July 2025, Lisaftoclax was approved by China’s NMPA for the treatment of adult patients with CLL/SLL who have previously received at least one systemic therapy, including BTK inhibitors, marking Lisaftoclax as the first Bcl-2 inhibitor receiving conditional approval and marketing authorization in China as well as the second Bcl-2 inhibitor approved commercially. In addition, Lisaftoclax was recommended in the 2026 CSCO Lymphoma Diagnosis and Treatment Guidelines for the treatment of patients with R/R CLL/SLL, and in 2026 CSCO Guidelines on Hematological Malignancies for the treatment of older/unfit patients with AML. Currently, Lisaftoclax has received clearances and approvals to conduct clinical studies including global registrational trials in China, the United States, Australia, and Europe, in indications including CLL/SLL, non-Hodgkin’s lymphoma, or NHL, AML, MM, MDS, and certain solid tumors. Furthermore, the FDA has granted five ODDs to Lisaftoclax, specifically for the treatment of patients with follicular lymphoma, or FL, WM, CLL, MM, AML.

The following table summarizes the registrational trials completed or ongoing for Lisaftoclax:

A summary of recent progress of Lisaftoclax is as follows:

Commercial progress

Clinical progress

Updated Clinical Data Highlights

A multicenter real-world (retrospective) study evaluated the efficacy and safety of Lisaftoclax in patients with myeloid neoplasms. A total of 30 patients were enrolled, including 25 patients with AML (with a CR/CRi rate of 72%) and 3 patients with MDS, 2 of whom achieved CRi. Regarding safety, grade ≥ 3 treatment-emergent adverse events (TEAEs) were primarily hematologic, including thrombocytopenia (27%), anemia (23%), and neutropenia (20%). Overall safety was manageable.

A multicenter retrospective study evaluated the real-world efficacy and safety of Lisaftoclax combined with AZA for MDS. A total of 10 patients with HR-MDS were enrolled, including 5 newly diagnosed cases and 5 relapsed/refractory cases. The overall ORR was 70%, with 60% for first-line therapy and 80% for second-line therapy, and the median time to initial response was 1.8 months. Among 4 patients with prior failure on venetoclax plus AZA, 1 achieved CR following Lisaftoclax + AZA treatment, and AEs were generally manageable. Overall, these preliminary real-world data suggest that Lisaftoclax plus azacitidine has promising activity and acceptable toxicity in MDS.

A correlative analysis from the pivotal Phase II study (NCT05147467) evaluated associations between baseline characteristics and prognosis in patients with R/R CLL/SLL treated with Lisaftoclax. The study enrolled 77 patients with R/R CLL/SLL refractory to BTKis. Among 72 evaluable patients, the median progression-free survival (PFS) was 23.9 months and the Independent Review Committee (IRC)-assessed ORR was 62.5%. Further analyses showed that TP53 mutation/del(17p), complex karyotype (CK), and mutations in SF3B1 , KIT , BLM , and SETD2 were associated with significantly shorter PFS. Complex karyotype and larger tumor size were identified as independent risk factors for shorter PFS. These findings demonstrate that Lisaftoclax has clinical activity in patients with R/R CLL/SLL refractory to BTKi therapy. In addition, these data may help to identify patients with poorer prognosis based on baseline risk characteristics, supporting future risk stratification and risk-adapted combination treatment strategies.

Expected progress of Lisaftoclax

APG-2449

APG-2449 is a novel, orally active, small-molecule inhibitor of focal adhesion kinase, or FAK, a third-generation inhibitor of anaplastic lymphoma kinase, or ALK, and an inhibitor of receptor tyrosine kinase C-ROS oncogene 1, or ROS1. It is a triple ligase kinase inhibitor designed and developed by Ascentage Pharma and is also the first FAK inhibitor approved by CDE for clinical studies in China. In a first-in-human trial, CSF PK analyses showed that APG-2449 penetrated the blood-brain barrier. An updated study of APG-2449 demonstrated preliminary clinical benefit in patients with non-small-cell lung cancer, or NSCLC, whose disease was TKI naïve and resistant to second-generation ALK inhibitors, especially in those with brain metastases. In addition, high phosphorylated FAK, or pFAK, expression levels in baseline tumor tissue correlated with improved APG-2449 treatment responses in patients with NSCLC-resistant to second-generation ALK inhibitors, suggesting that increasing pFAK levels may be a viable therapeutic approach to treating tumors resistant to second-generation ALK TKIs. Furthermore, we are investigating the potential synergistic effect of APG-2449 combined with agents targeting the MAPK pathway, including RAS, MEK, and BRAF inhibitors.

Recent progress of APG-2449 is as follows:

Clinical progress

Updated Development Highlights

Cautionary Statement required by Rule 18A.05 of the Listing Rules: WE MAY NOT BE ABLE TO ULTIMATELY DEVELOP AND MARKET APG-2449 SUCCESSFULLY.

Alrizomadlin (APG-115)

Alrizomadlin (APG-115) is a novel, orally bioavailable, small-molecule inhibitor of MDM2-p53 designed to be highly specific for disruption of the protein-protein interaction of MDM2 and p53 in order to restore p53 tumor suppressor activity. Alrizomadlin is undergoing multiple clinical studies in China, the United States, and Australia as a single agent or in combination with immunotherapy or chemotherapy for treating solid tumors and hematologic malignancies.

The FDA has granted six ODDs for alrizomadlin, for the treatment of soft-tissue sarcoma, gastric cancer, AML, retinoblastoma, stage IIB-IV melanoma, and neuroblastoma. In addition, alrizomadlin has been granted two Rare Pediatric Disease Designations, or RPDDs, by the FDA for the treatment of neuroblastoma and retinoblastoma. Finally, alrizomadlin has been officially included by the CDE of the NMPA into the pilot project of the Incentive Pilot Program for Pediatric Anticancer Drug R&D (Starlight Program). It is planned to be developed for the treatment of pediatric solid tumors, including neuroblastoma (NB), rhabdomyosarcoma (RMS), and Ewing sarcoma (EWS).

Recent progress of alrizomadlin is as follows:

Clinical progress

We are currently conducting the following clinical studies of alrizomadlin in the United States and/ or Australia:

In addition, the CDE has granted approval for the following clinical trials of alrizomadlin in China:

Updated Clinical Development Highlight

Cautionary Statement required by Rule 18A.05 of the Listing Rules: WE MAY NOT BE ABLE TO ULTIMATELY DEVELOP AND MARKET ALRIZOMADLIN (APG-115) SUCCESSFULLY.

Pelcitoclax (APG-1252)

Pelcitoclax is a novel, highly potent, small-molecule drug candidate designed to restore apoptosis through dual inhibition of the Bcl-2/Bcl-xL proteins for the treatment of small-cell lung cancer (SCLC), NSCLC, neuroendocrine tumor, and NHL. APG-1252 was granted an ODD by the FDA for the treatment of SCLC.

In various clinical trials conducted in the United States, Australia, and China, patients have been treated with Pelcitoclax as monotherapy or in combination with other antitumor agents. Pelcitoclax has been well tolerated in patients to date using either weekly or biweekly intermittent dosing schedules. Preliminary antitumor activity was observed as a single agent in heavily pretreated patients.

Recent progress of Pelcitoclax is as follows:

Clinical progress

Pelcitoclax is currently under investigation in a variety of combination trials, including:

Updated Clinical Development Highlight

Expected Progress of Pelcitoclax

Cautionary Statement required by Rule 18A.05 of the Listing Rules: WE MAY NOT BE ABLE TO ULTIMATELY DEVELOP AND MARKET PELCITOCLAX (APG-1252) SUCCESSFULLY.

APG-5918

APG-5918 is a potent, orally bioavailable, and highly selective embryonic ectoderm development, or EED, inhibitor. EED is a core subunit of the PRC2. PRC2 inhibitors block tumor cell epigenetic modifications, enabling expression of tumor-suppressor genes. Preliminary study results from preclinical models of anemia demonstrated that APG-5918 can improve hemoglobin insufficiency induced by chronic kidney disease, or CKD.

We have initiated an FDA-cleared multicenter, open-label Phase I clinical trial to evaluate the safety, PK, and efficacy of APG-5918 in patients with advanced solid tumors or lymphomas, including NHL, that have progressed or are intolerant to previously approved therapies or for which no standard treatments are available.

Recent progress of APG-5918 is as follows:

Clinical progress

Updated Development Highlights

Expected Progress of APG-5918

Cautionary Statement required by Rule 18A.05 of the Listing Rules: WE MAY NOT BE ABLE TO ULTIMATELY DEVELOP AND MARKET APG-5918 SUCCESSFULLY.

APG-3288

APG-3288 is our first disclosed novel, highly potent and selective BTK degrader developed utilizing Ascentage Pharma’s proprietary proteolysis-targeting chimera (PROTAC) technology platform. This candidate induces the formation of a ternary complex consisting of the BTK target, the PROTAC, and the cereblon E3 ubiquitin ligase, leading to proteasome-mediated degradation of the BTK target. Unlike conventional BTK inhibitors, APG-3288 is designed to act through degradation rather than inhibition, inducing rapid, potent, highly selective, and sustained degradation of both wild-type BTK and multiple BTK mutants associated with resistance to existing BTK inhibitors (e.g., C481S). Critically, this approach blocks the BCR-BTK signaling axis at its source, thereby overcoming resistance to BTK inhibitors and potentially providing a novel and differentiated therapeutic strategy for BTK-targeted treatment. In preclinical studies,, APG-3288 demonstrated more potent BTK degradation, higher selectivity, and more favorable PK properties compared to certain other BTK degraders in development, highlighting the drug’s potential.

Recent progress of APG-3288 is as follows:

Clinical progress

Cautionary Statement required by Rule 18A.05 of the Listing Rules: WE MAY NOT BE ABLE TO ULTIMATELY DEVELOP AND MARKET APG-3288 SUCCESSFULLY.

Discovery programs

We continue to actively engage our internal discovery capability in pursuit of novel, differentiated, therapeutic candidates to add to our proprietary pipeline. The following summarizes some recent achievements from our ongoing discovery program activities:

Protein degraders

Our deep understanding of heterobifunctional molecules and ligase biology has allowed us to develop protein degraders targeting traditionally undruggable proteins of interest implicated in key oncologic pathways. We believe that we have the ability to develop differentiated protein degraders with superior PK/PD profiles resulting in less off-target effects than observed with degraders already in clinical development. We also believe that we can develop cancer therapeutics targeted toward resistance mechanisms that have traditionally plagued small-molecule inhibitors, with our protein degrader candidates.

In the first quarter of 2026, we announced that APG-3288, our first novel, highly potent, and selective BTK degrader, received IND clearance from the U.S. FDA and CDE. In addition, we identified and nominated our targeted protein degrader, or TPD, candidate for preclinical development. This orally bioavailable degrader targets the MDM2-p53 pathway. In the last 20 years, many highly potent and orally active MDM2-p53 inhibitors have been developed to activate the p53 tumor suppressor gene, and several are currently in clinical development, including Alrizomadlin. However, inhibition of p53 often leads to upregulation of MDM2, which, in turn, has limited the efficacy of MDM2 inhibitors evaluated by others to date. Therefore, we believe that a degrader approach has the potential to be a transformative new strategy against these key oncology targets.

We have also identified several compounds from our protein degrader discovery capability that can rapidly reduce levels of the Bcl-xL protein in human cancer cell lines and thereby inhibit their growth due to their dependency on Bcl-xL. Based on our initial studies, we believe that our Bcl-xL protein degrader approach has the potential to demonstrate strong antitumor activity along with low levels of platelet toxicity. We are in the process of selecting and nominating our first Bcl-xL degrader candidate for preclinical development. The potential candidates exhibit high selectivity for the Bcl-xL target, demonstrating potent cellular and degradation activity, and showing remarkable in vivo efficacy in murine xenograft models.

RESEARCH AND DEVELOPMENT

We have a proven record of accomplishment in research discovery, global clinical development, and commercialization of novel biopharmaceuticals directed toward cancer. We plan to continue to diversify and expand our product pipeline through both in-house research and development and collaboration with biotechnology and pharmaceutical companies, as well as academic institutions. We have an experienced scientific advisory board, or SAB, chaired by Dr. Shaomeng Wang, our cofounder and non-executive director. Members of our SAB are physician scientists with expertise in cancer research and drug development. They are not our employees but periodically assist us and guide our clinical development programs through regularly scheduled SAB meetings.

For the six months ended June 30, 2025 and 2026, our research and development expenses were RMB528.6 million and RMB697.5 million, respectively.

INTELLECTUAL PROPERTY RIGHTS

Intellectual property rights are fundamental to our business. Through our robust research and development, we have strategically developed a global intellectual property portfolio with exclusive rights to issue patents or patent applications worldwide with respect to our products and product candidates. As of June 30, 2026, we had cumulatively amassed 537 issued patents globally, including 25 new patents issued during the reporting period. Of these patents, 395 patents were issued outside of China.

COMMERCIALIZATION

Ascentage Pharma is executing its dual-engine commercialization strategy. Our commercial portfolio maintained a resilient performance in the first half of 2026, with Lisaftoclax ramping up post-launch and Olverembatinib consolidating its position as the cornerstone product following its strong post-NRDL growth in 2025.

As of June 30, 2026, we have a fully operational commercialization team in China consisting of nearly 300 staff members, and our commercialization efforts cover approximately 1,500 hospitals across the country. To support the further growth of our cornerstone product Olverembatinib and the continued ramp-up of Lisaftoclax in its second year of commercialization, we continue to enhance our organizational capabilities in a steady and strategic manner. Building on the differentiated clinical profile of both products and our established and steadily expanding commercial capabilities, we are well positioned to accelerate market penetration and prepare for potential new indication approvals and upcoming NRDL inclusion opportunities.

Olverembatinib maintained its position as the cornerstone product of our portfolio, continuing to serve as a leading third-generation TKI treatment option for patients with CML in China. Building on the strong revenue growth achieved in the prior year following its expanded NRDL coverage, Olverembatinib continued to demonstrate a stable and healthy commercial performance, supported by sustained patient demand, ongoing accumulation of real-world evidence, and continued expansion of hospital access.

Lisaftoclax, our second commercialized product, continued to demonstrate strong postlaunchmomentum in the first half of 2026. Leveraging our fully in-house commercial team and itsdifferentiated clinical profile, Lisaftoclax achieved further expansion in hospital access and pharmacy coverage, supporting a steady and rapid increase in new patient prescriptions.

We continued to strengthen the underlying commercial infrastructure that supports the sustained growth of our dual-engine portfolio.

In the first half of 2026, guideline recognition and clinical evidence continued to reinforce the clinical positioning of both of our commercialized products.

Together, these expanding guideline endorsements and the continued accumulation of clinical evidence further consolidate the differentiated positioning of Olverembatinib and Lisaftoclax, and provide a solid foundation for the sustained long-term commercial growth of our dual-engine portfolio.

CHEMISTRY, MANUFACTURING AND CONTROLS

We have established our own Suzhou facility as our global R&D center and manufacturing facility. The R&D center and the manufacturing center were commissioned in the second half of 2021 and the fourth quarter of 2022, respectively.

The Suzhou manufacturing Center has a capacity exceeding 200,000 square feet, and the manufacturing capacity for both oral solid tablet and capsule formulations is up to 250 million dosage units per year. We also maintain manufacturing capability at the Suzhou center for injectable drug products, including lyophilized formulations. We have the necessary licenses and approvals to manufacture and supply Olverembatinib oral solid tablets to supply global clinical trials as well as for commercial sales in the China market. We completed the drug tablet coating, debossing development, and the GMP production of Olverembatinib tablets, thereby preparing for future applications to global regulatory authorities, including FDA.

Our Global Manufacturing Center and quality management system implemented at the site are compliant with the standards of the European Union Good Manufacturing Practice (EU GMP), marking the achievement of a major milestone that will pave the way for our continued global expansion.

Our Global Manufacturing Center can produce and supply Lisaftoclax tablets for our global clinical trials. Since NDA approval in July 2025, commercial batches of Lisaftoclax tablets for China market have been consistently and steadily supplied by our China manufacturing partner, while at the same time, our Suzhou manufacturing center is being prepared for commercial production and supply for the China market.

In addition, we lease an approximately 50,000-square-foot facility for R&D and manufacturing in China Medical City, Taizhou, Jiangsu Province, China, where we produce and supply preclinical test articles and clinical trial materials for some of our drug candidates. We believe that the existing facilities are adequate for our current needs.

BUSINESS DEVELOPMENT

In addition to our strong in-house research and development team, we have established global collaboration and other relationships with leading biotechnology and pharmaceutical companies as well as academic institutions. We will continue to seek opportune strategic partnerships to maximize the value of our pipeline products.

On June 14, 2024, Ascentage Pharma, Ascentage HK, Ascentage GZ, Ascentage SZ and Takeda Pharmaceuticals International AG or Takeda entered into an Exclusive Option Agreement, pursuant to which we granted Takeda an exclusive option to enter into an exclusive license agreement for the development and commercialization of Olverembatinib. If exercised, the Option would allow Takeda to license global rights to develop and commercialize Olverembatinib in all territories outside of the PRC, Hong Kong, Macau, Taiwan and Russia. Pursuant to the Exclusive Option Agreement, Ascentage Pharma continues all clinical development of Olverembatinib until Takeda exercises the Option.

Ascentage Pharma continues to work closely with Takeda to implement the Exclusive Option Agreement.

FINANCING ACTIVITIES

During the Reporting Period, there was no fund raising activity carried out by the Company.

INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS 

For the six months ended 30 June 2026

INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS

For the six months ended 30 June 2026

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

30 June 2026

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Continued) 

30 June 2026

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the six months ended 30 June 2026

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Continued)

For the six months ended 30 June 2026

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

For the six months ended 30 June 2026

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION

30 June 2026

The Company is a limited liability company incorporated in the Cayman Islands on 17 November 2017. The registered office of the Company is located at the office of Walkers Corporate Limited, with the registered address of 190 Elgin Avenue, George Town, Grand Cayman KY1-9008, Cayman Islands.

The Company is an investment holding company. The Company became the holding company of the subsidiaries upon completion of the reorganization in July 2018. The Company is a global biopharmaceutical company engaged in discovering, developing and commercializing therapies to address global medical needs primarily in hematological malignancies.

In October 2019, the Company completed its Hong Kong initial public offering with the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”). In January 2025, the Company completed its U.S. initial public offering with NASDAQ.

The interim condensed consolidated financial information for the six months ended 30 June 2026 has been prepared in accordance with IAS 34 Interim Financial Reporting . The unaudited interim condensed consolidated financial information does not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Group’s annual consolidated financial statements for the year ended 31 December 2025.

The accounting policies adopted in the preparation of the unaudited interim condensed consolidated financial statements are consistent with those applied in the preparation of the Group’s annual consolidated financial statements for the year ended 31 December 2025, except for the adoption of the following amended IFRS Accounting Standards for the first time for the current period’s financial information.

The nature and impact of the amended IFRS Accounting Standards are described below:

For management purposes, the Group has only one reportable operating segment, which is discovering, developing and commercializing therapies for global medical needs primarily in hematological malignancies. Management monitors the operating results of the Group’s operating segment as a whole for the purpose of making decisions about resource allocation and performance assessment. Therefore, no analysis by operating segment is presented.

Geographical information

The revenue information above is based on the locations of the customers. 

The non-current asset information above is based on the locations of the assets and excludes financial instruments and deferred tax assets.

Information about major customers

Revenue from customers amounting to over 10% of the total revenue of the Group for the reporting period is as follows:

An analysis of revenue is as follows:

Disaggregated revenue information

The following table shows the amounts of revenue recognized in the current reporting period that were included in the contract liabilities at the beginning of the reporting period:

The Group’s loss before tax is arrived at after charging/(crediting):

The Group is subject to income tax on an entity basis on profits arising in or derived from the jurisdictions in which members of the Group are domiciled and operate.

Cayman Islands

Under the current laws of the Cayman Islands, the Company and Ascentage Pharma Group International are not subject to tax on income or capital gain arising in the Cayman Islands. Additionally, upon payments of dividends by these companies to the shareholders, no Cayman Islands withholding tax will be imposed.

Hong Kong

The subsidiaries incorporated in Hong Kong are subject to income tax at the rate of 16.5% on the estimated assessable profits arising in Hong Kong. For the six months ended 30 June 2026 and 2025, the Company did not make any provisions for Hong Kong profits tax as there were no assessable profits derived from or earned in Hong Kong for any of the periods presented.

Chinese mainland

The Company’s subsidiaries domiciled in the PRC are subject to tax at the statutory rate of 25%, in accordance with the Enterprise Income Tax law (the “EIT Law”), which was effective since 1 January 2008, except for the following entities which are eligible for a preferential tax rate.

Dividends, interest, rent or royalties payable by the Company’s PRC subsidiaries, to non-PRC resident enterprises, and proceeds from any such non-resident enterprise investor’s disposition of assets (after deducting the net value of such assets) shall be subject to 10% withholding tax, unless the respective non-PRC resident enterprise’s jurisdiction of incorporation has a tax treaty or arrangements with China that provides for a reduced withholding tax rate or an exemption from withholding tax.

United States

The subsidiary operating in the United States was subject to tax at a maximum of 21% for the six months ended 30 June 2026 and 2025. No provision for income tax has been made as the Group had no assessable profits earned in the United States during the reporting period.

A requirement to capitalize and amortize previously deductible research and experimental expenses resulting from a change in Section 174 made by the Tax Cuts and Jobs Act of 2017 (the “TCJA”) became effective on 1 January 2022. Under the TCJA, the Company is required to capitalize and subsequently amortize R&D expenses over five years for research activities conducted within the United States and fifteen years for research activities conducted outside of the United States.

In July 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted, which reinstated current deductibility of domestic research and experimental expenditures and provided an election to accelerate the recovery of previously capitalized costs. The Company did not elect to accelerate the deduction of previously capitalized domestic research and experimental expenditures and will continue to amortize such costs over the remaining statutory periods.

The current and deferred components of the income tax expense are as follows:

The board of directors resolved not to declare any interim dividend for the six months ended 30 June 2026 and 2025.

The calculation of the basic loss per share amount is based on the loss for the six months ended 30 June 2026 attributable to ordinary equity holders of the parent, and the weighted average number of ordinary shares of 373,248,217 (six months ended 30 June 2025: 341,591,027) outstanding during the period, as adjusted to reflect the rights issued during the period.

No adjustment has been made to the basic loss per share amounts presented for the six months ended 30 June 2026 and 2025 in respect of a dilution as the impact of the options and RSUs had an anti-dilutive effect on the basic loss per share amounts presented.

The calculation of basic and diluted loss per share is based on:

The weighted average number of shares was after taking into account the effect of treasury shares held.

During the six months ended 30 June 2026, the Group acquired assets at a cost of RMB3,766,000 (six months ended 30 June 2025: RMB5,024,000).

During the six months ended 30 June 2026, no impairment loss was recognized for property, plant and equipment (six months ended 30 June 2025: Nil).

An ageing analysis of the trade receivables as at the end of the reporting period, based on the invoice date and net of loss allowance, is as follows:

An ageing analysis of the trade payables as at the end of the reporting period, based on the invoice date, is as follows:

30 June 2026 (Unaudited)

The unsecured bank loans amounting to RMB63,000,000 (31 December 2025: RMB140,000,000) were guaranteed by the Group’s subsidiaries as at 30 June 2026.

In May 2026, the Company issued ordinary shares with respect to the restricted share units under the 2022 RSU scheme to certain selected persons of the Company. In connection with the exercised restricted share units, 23,836 new shares of the Company were issued, and an amount of RMB16 was credited as share capital.

In June 2026, the Company issued ordinary shares with respect to the restricted share units under the 2022 RSU scheme to certain selected persons of the Company. In connection with the exercised restricted share units, 183,069 new shares of the Company were issued, and an amount of RMB125 was credited as share capital.

During the six months ended 30 June 2026, the Company issued ordinary shares with respect to the share options under the pre-IPO share option scheme exercised by certain grantees of the Company. In connection with the exercised share options, 27,171 new shares of the Company were issued with the weighted average exercise price of HK$0.01, and an amount of RMB19 was credited as share capital.

In May 2026, the Company instructed the trustee to purchase 150,000 of its shares on the Hong Kong Stock Exchange at a total consideration of RMB5,147,000 for the purpose of the 2022 RSU Scheme.

In June 2026, the Company instructed the trustee to purchase 300,000 of its shares on the Hong Kong Stock Exchange at a total consideration of RMB8,803,000 for the purpose of the 2022 RSU Scheme.

As at 30 June 2026, the Group had capital commitments of RMB1,613,000 relating to furniture and equipment (31 December 2025: RMB307,000).

According to the Healthquest Pharma Acquisition Agreement between Ascentage and Dr. Zhai, no contingent consideration payable to Dr. Zhai occurred and no consideration was paid to Dr. Zhai during this period.

In accordance with the acquisition agreement, payables due to Dr. Zhai Yifan represent the contingent consideration related to the acquisition of Guangzhou Healthquest Pharma Co., Ltd.

The carrying amounts of the Group’s financial instruments, other than those with carrying amounts that reasonably approximate to fair values, are as follows: