Recently, the Beijing Stock Exchange (hereinafter referred to as “BSE”) officially released the results of the 2024-2025 annual evaluation of listed companies’ information disclosure practices (hereinafter referred to as the “Disclosure Evaluation”). NORTHLAND has been awarded the top-tier A rating in the Disclosure Evaluation thanks to its outstanding performance in areas such as information disclosure, corporate governance, and investor relations management, making it one of the first listed companies on the BSE to receive this prestigious honor. The scientifically quantified scoring system has made the A rating a “golden hallmark” of the BSE.

According to the “Guidance No. 12 on Continuous Supervision of Listed Companies—Evaluation of Information Disclosure Work,” issued and implemented by the Beijing Stock Exchange in December 2024, the evaluation system for information disclosure by listed companies sets forth four levels—A, B, C, and D (representing excellent, good, qualified, and unqualified, respectively)—and assesses performance from the perspectives of “compliance, effectiveness, and coordination.”

Compliance Dimension—Focus on verifying whether periodic reports and ad hoc announcements are true, accurate, complete, and timely, and whether they contain any false entries, misleading statements, or material omissions.

Effectiveness Dimension—Focuses on whether the information disclosure is concise and clear, easy for investors to read and understand; whether risks are fully disclosed and key information is prominently highlighted; and whether industry-specific operational information is proactively disclosed.

Coordination Dimension—Assesses the company’s investor relations management, media communications, social responsibility disclosures, and whether any other penalties or negative circumstances exist.

Since its listing, NORTHLAND has consistently regarded compliant operations and the quality of information disclosure as the cornerstone of its development. It has demonstrated outstanding performance in areas such as the quality of information disclosure, investor relations management, and the implementation of social responsibility. Receiving an A-grade rating for information disclosure this time is a high-level recognition from the Beijing Stock Exchange of the company's standardized operational level, the quality of its information disclosure, and its market credibility.

According to the rules, the Beijing Stock Exchange will implement categorized regulation based on evaluation results. Companies classified as Category A will enjoy corresponding support and convenience in areas such as improved efficiency in refinancing approvals, enhanced policy support for mergers and acquisitions and restructuring, optimized frequency of regulatory inquiries, and strengthened corporate publicity and business services.

NORTHLAND received an A-level excellent rating in the 2024-2025 annual information disclosure assessment on the Beijing Stock Exchange. For the company and its board of directors, this recognition is not only an honor but also a significant responsibility. Looking ahead, the company will take the A-level rating as a new starting point to continuously uphold compliance standards, enhance the value of information disclosure, deepen investor communication, strengthen social responsibility, and fully leverage the policy benefits associated with the A-level rating to accelerate the research and development and industrialization of innovative drugs, thereby creating greater value for shareholders. The company will also continue to adhere to the principles of "standardization, transparency, and responsibility," striving to be a leader in the high-quality development of the Beijing Stock Exchange.

Link: Announcement on the Release of Evaluation Results for Information Disclosure Work of Listed Companies on the Beijing Stock Exchange for the 2024-2025 Fiscal Year