Company: CNTB
Filing Date: 2025-09-10
Form Type: POS AM
Source: 0001193125-25-200186
Chunk: 19

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-09-10
Form: POS AM
Chunk 19
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| • |     | Dividends paid to our non-PRC investors (should we ever pay dividends)                               
 and gains on the sale of our Ordinary Shares by our non-PRC investors may become subject to PRC tax. |

| • |     | We and our shareholders face uncertainties with respect to indirect transfers of equity interests in PRC                                                            
 resident enterprises or other assets attributed to a PRC establishment of a non-PRC company, or immovable properties located in the PRC owned by non-PRC companies. |

11

| • |     | We and our shareholders face uncertainties with respect to reorganizations or restructurings that we may 
 undertake.                                                                                               |

| • |     | We could be adversely affected by rising political tensions and any potential conflicts between the U.S. and 
 the PRC.                                                                                                     |

| • |     | Recent litigation, regulatory scrutiny and negative publicity surrounding                                                                                
 PRC-based companies listed in the U.S. may result in increased regulatory scrutiny of us and negatively impact the trading price of our Ordinary Shares. |

| • |     | The enforcement of the PRC Labor Law, Labor Contract Law, and other labor-related regulations in the PRC may                                       
 increase our labor costs and limit our flexibility to use labor. If we fail to comply with PRC labor-related laws, we may be exposed to penalties. |

| • |     | Our business benefits from tax benefits or financial incentives and discretionary policies granted by                                                                
 governmental authorities in the PRC. Expiration, elimination or reduction of these incentives or policies would have an adverse effect on our results of operations. |

| • |     | The pharmaceutical industry in the PRC is highly regulated and such regulations are subject to change which 
 may affect approval and commercialization of our drugs.                                                     |

| • |     | We may be restricted by industry-specific laws and regulations from transferring our scientific data outside 
 of the PRC.                                                                                                  |

Risks Related to Ownership of Our Ordinary Shares

| • |     | The trading price of our Ordinary Shares could be highly volatile, and purchasers of our Ordinary Shares could 
 incur substantial losses.                                                                                      |

| • |     | Unstable market and economic conditions may have serious adverse consequences on our business, financial 
 condition and results of operations and the price of our Ordinary Shares.                                |

| • |     | If we fail to meet the continued listing requirements of the Nasdaq Stock Market LLC (“Nasdaq”), 
 it could result in a delisting