Hangzhou Tigermed Consulting Co., Ltd. Class A · SZSE:300347
Hangzhou Tigermed Consulting Co., Ltd. Class A — J.P. Morgan Healthcare Conference 2026
31 slides from Hangzhou Tigermed Consulting Co., Ltd. Class A's conference presentation, January 2026
Slide 1: J.P. Morgan Healthcare Conference 2026
J.P. Morgan Healthcare Conference 2026 Hangzhou Tigermed Consulting Co., Ltd. 300347.SZ / 3347.HK San Francisco, CA, U.S. January 2026 www.tigermedgrp.com
Slide 2: Disclaimer
Disclaimer By reading these materials, you agree to be bound by the following limitations: The information herein has been prepared by representatives of Hangzhou Tigermed Consulting Co., Ltd. (杭州泰格医药科技股份有限公司, the “Company”) solely for your information and have not been independently verified. The i
Slide 3: China Clinical CRO Industry Update
PART 1 China Clinical CRO Industry Update www.tigermedgrp.com
Slide 4: China Clinical CRO Industry Expected to Recover and Repick Growth
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy China Clinical CRO Industry Expected to Recover and Repick Growth c.50% of China clinical trials were outsourced to clinical CROs during 2019-2025 (excluding peripheral services, data from HGRAC) China Clinical CRO Market Size Billi
Slide 5: Tigermed New Bookings Outgrew the Industry during 2019-2024
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy Tigermed New Bookings Outgrew the Industry during 2019-2024 China Clinical CRO Market Size Tigermed Net New Bookings 2019-2024 2019-2024 Billion RMB Billion RMB 2019-2024 CAGR 2019-2024 CAGR 12.5% 14.8% 46 8.42 25.5 4.23 2019 2024 2
Slide 6: Less Overcapacity Observed Sequentially in the Industry
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy Less Overcapacity Observed Sequentially in the Industry Supply & demand between China and the U.S. Ongoing trials available per Clinical CRO in clinical trial outsourcing in China far behind that in the U.S. As of Dec 2024 As of Dec
Slide 7: Supply Side Consolidation Continued in 2025
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy Supply Side Consolidation Continued in 2025 Trend comparison of number # of sponsors(1) # of clinical CROs(1) of sponsors and clinical CROs 800 200 each year from HGRAC filings 600 150 400 100 200 50 69% decline from 2021 peak 68% d
Slide 8: Tigermed New Booking Trend
PART 2 Tigermed New Booking Trend www.tigermedgrp.com
Slide 9: Increasing New Bookings from MNCs and Chinese Large Pharma
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy Increasing New Bookings from MNCs and Chinese Large Pharma New Booking Breakdown by Customer Type New Booking Breakdown by Customer Type by Dollar Amount 2024 vs Jan-Nov 2025 by Dollar Amount 2024 vs Jan-Nov 2025 2024 Jan-Nov 2025 R
Slide 10: Domestic New Booking Price Stabilized
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy Domestic New Booking Price Stabilized Domestic Phase I&II Clinical Trial New Booking Average Selling Price Trend • ASP = total booking amount / number of trials • Data of Tigermed new booking ASP of domestic Phase I and II clinical
Slide 11: R&D Landscape – Spending and Clinical Trials
PART 3 R&D Landscape – Spending and Clinical Trials www.tigermedgrp.com
Slide 12: Faster Growth of INDs and First-in-Human Trials in 2025
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy Faster Growth of INDs and First-in-Human Trials in 2025 Number of Clinical Trial IND Approvals in China Number of Phase I Clinical Trials Initiated in China 2018-2025 2018-2025 2,703 1,168 2,275 1,030 2,002 965 1,745 888 1,729 824 6
Slide 13: MNC is an Important Contributor of Innovative Drug Clinical Trials in China
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy MNC is an Important Contributor of Innovative Drug Clinical Trials in China MNC is the major payer of China clinical CRO market with 25-30% of total Phase III trials by number Phase II Phase III Newly started innovative 671 drug cli
Slide 14: MNC is Using More Local CRO Service Providers in China
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy MNC is Using More Local CRO Service Providers in China Rapid development of local Improvement of service Domestic CROs taking up market shares for MNC clinical trial industry quality from local clinical clinical operation projects i
Slide 15: Local Pharma is Contributing More to Innovative Drug Trials in China
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy Local Pharma is Contributing More to Innovative Drug Trials in China China local pharma (listed big pharma and emerging pharma) contributed 15-20% of total Phase III trials Newly started innovative drug Phase II Phase III clinical t
Slide 16: Local Pharma has Delivered and is still Growing its R&D Efforts
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy Local Pharma has Delivered and is still Growing its R&D Efforts China-Originated Innovative Drug Sales Ramp-up(1) China Local Pharma R&D Spending Continues to Grow Billions RMB 15+ China-originated innovative drugs reached 200 175.1
Slide 17: China Biotechs Received More Cash in 2024-2025 than 2020-2021
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy China Biotechs Received More Cash in 2024-2025 than 2020-2021 Mainly Because of Licensing-out and M&As Transactions A significant increase of out-licensing deals of China-originated Assets-based transactions and M&As continued to be
Slide 18: Rising Upfront Payment Provides a Key Alternative for China Biotechs to Access Capital
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy Rising Upfront Payment Provides a Key Alternative for China Biotechs to Access Capital… 139.3 Billion USD 53.5 44.6 PE/VC Fund Investment to China Biotechs 29.0 Upfront Payment to China Biotechs from Out- Licensing Deals 17.4 Potent
Slide 19: With Public Market Capital Raising Activities Revived in 2025
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy …With Public Market Capital Raising Activities Revived in 2025 China HC Companies Raised ~20% More from IPOs in …While Following-on Offerings Saw Strong Rebound 11M2025 than 2023, Still Well Below 2021 Level Mainly Due with HKEX FOs
Slide 20: China R&D Industry Plugged into Global Ecosystem
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy China R&D Industry Plugged into Global Ecosystem… Before 2015 The Past Decade Now A Service Provider to An Evolver in Regulatory, A Contributor and Enabler of Developed Market Funding and Talent Global Innovative Assets An isolated
Slide 21: Followed by Value Realization
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy …Followed by Value Realization Innovative assets in China offer compelling value propositions for US/EU companies/investors .S. Dollarization U Developed China Markets Ch in e i on se RMB-izat R&D services in China offer time and co
Slide 22: Huge Time Saving Potential by Leveraging China's R&D Resources
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy Huge Time Saving Potential by Leveraging China’s R&D Resources Higher Efficiency in China despite More Trials… …with 2-5 Times Faster in Patient Enrollement Data based on single-country trials conducted in 2020-2024 Average time to
Slide 23: More Diversified TA Focus with Leading Position in Next-gen Modalities
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy More Diversified TA Focus with Leading Position in Next-gen Modalities China Innovative Pipelines(1) Breakdown by TA (total # and %) Early-stage Innovative Assets(6) in Next-gen Modalities 3Q2025(3) (2) China U.S. Others # of assets
Slide 24: China Innovation Contribution to Global: Today and Beyond
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy China Innovation Contribution to Global: Today and Beyond Fast Already making impact especially in TAs with big market potential globally and with lead follower compound showing clear regulatory pathway but not yet built high commer
Slide 25: Overseas Clinical Trials Initiated by Chinese Sponsors
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy Overseas Clinical Trials Initiated by Chinese Sponsors Breakdown by MRCT & Single Region Breakdown by Pharma & Biotech Breakdown by Trial Phase 2017-2025(1) 2017-2025(1) 2017-2025(1) MRCTs Single Country Pharma Biotech Phase I Phase
Slide 26: Tigermed Strategies
PART 4 Tigermed Strategies www.tigermedgrp.com
Slide 27: Stay Committed to Sustainability in 2025
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy Stay Committed to Sustainability in 2025 ESG Commitment Global Recognition Overseas Expansion Domestic Leadership MSCI ESG Rating Forbes China Acquired Market Share AAA Top 30 Micron No.1 The highest rating in Go-International A Jap
Slide 28: Tigermed Strategies & Outlook for 2026 and Beyond
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy Tigermed Strategies & Outlook for 2026 and Beyond Build a higher moat on our core Build closer ties with various Enhance our global Monitor inorganic growth clinical and related services and stakeholders, partly through our service
Slide 29: Tigermed AI LLM for Intelligent Clinical Development
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy Tigermed AI LLM for Intelligent Clinical Development Clinical Trial Q&A Patient Recruitment Medical Writing Search-Writing Integrated Medical Translation Platform AI Platform AI Platform AI Platform AI Platform Application Multi-mod
Slide 30: Case Studies: Delivering Efficient Clinical Trials with AI Technology
CRO Landscape Tigermed New Bookings R&D Landscape Tigermed Strategy Case Studies: Delivering Efficient Clinical Trials with AI Technology AI Translation (developed by Tigermed) AI Medical Writing (developed by Tigermed) An AI Translation Platform developed by Taya (a An AI Medical Writing Platform d
Slide 31: Hangzhou Tigermed Consulting Co., Ltd.
J.P. Morgan Healthcare Conference 2026 Hangzhou Tigermed Consulting Co., Ltd. 300347.SZ / 3347.HK Global Headquarters F18, Building A, Shengda Science Park, 19 Jugong Road, Binjiang District, Hangzhou, China International Headquarters 1201, Li-Ning Building, 218 Electric Rd, North Point, Hong Kong,
Hangzhou Tigermed Consulting — J.P. Morgan Healthcare Conference 2026 on 6ix