TYK MEDICINES-B (02410) initiated legal proceedings against Sichuan Huiyu Pharmaceutical Co., Ltd.

TYK MEDICINES-B (02410) announcement, the company has recently submitted a case to the Changxing County People's Court, initiating legal proceedings against Sichuan Huiyu Pharmaceutical Co., Ltd. (Huiyu), seeking judicial confirmation that a cooperation agreement and distribution agreement related to TY-9591 allegedly entered into with Huiyu were not established and are invalid. The company has also received a notice of acceptance of a case from the Neijiang Shizhong District People's Court regarding a similar cooperation agreement, distribution agreement, and related documents allegedly entered into with Huiyu by the company. Both cases have been filed but have not yet been heard in court. The Board of Directors has sought legal advice on these court notices and related legal proceedings, and will continue to seek such advice while monitoring the potential legal, operational, and financial impacts on the group. Based on initial consultation with the company's Chinese legal counsel, the Board believes the company has a reasonable basis to challenge the alleged cooperation and distribution agreements and supports the company's position. The company intends to take all necessary measures to protect its legal rights. As of the date of this announcement, to the best of the Board's knowledge, the legal proceedings have no significant adverse impact on the group's overall business, operations, or cash flow, and the group's business and operations continue as usual.