# EDGAR Filing Document

**Accession Number:** 0001944552
**File Stem:** 0001213900-26-047439
**Filing Date:** 2026-4
**Character Count:** 45052
**Document Hash:** 701793bedcf330c96479e7f5c3dd48dc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-047439.hdr.sgml**: 20260424

**ACCESSION NUMBER**: 0001213900-26-047439

**CONFORMED SUBMISSION TYPE**: F-3/A

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20260424

**DATE AS OF CHANGE**: 20260424

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Adlai Nortye Ltd.
- **CENTRAL INDEX KEY:** 0001944552
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** F-3/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-294173
- **FILM NUMBER:** 26892708

**BUSINESS ADDRESS:**
- **STREET 1:** 685 U.S. HIGHWAY ONE, 2ND FLOOR
- **CITY:** NORTH BRUNSWICK
- **STATE:** NJ
- **ZIP:** 08902
- **BUSINESS PHONE:** 848-230-7430

**MAIL ADDRESS:**
- **STREET 1:** 685 U.S. HIGHWAY ONE, 2ND FLOOR
- **CITY:** NORTH BRUNSWICK
- **STATE:** NJ
- **ZIP:** 08902

**As filed with the Securities and Exchange Commission on April 24, 2026**

**Registration No. 333-294173**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Amendment No.2**

**To**

**FORM F-3**

**REGISTRATION STATEMENT**

***UNDER THE SECURITIES ACT OF 1933***

**Adlai Nortye Ltd.**

**(Exact name of registrant as specified in its charter)**

**Not Applicable**

**(Translation of Registrant's name into English)**

---

| | |
|:---|:---|
| **Cayman Islands** | **Not Applicable** |
| **(State or other jurisdiction of<br> incorporation or organization)** | **(I.R.S. Employer<br> Identification Number)** |

---

**c/o PO Box 309, Ugland House**

**Grand Cayman, KY1-1104**

**Cayman Islands** 

**Telephone: +1 848 230 7430**

(Address and telephone number of Registrant's principal executive offices)

**Adlai Nortye USA Inc.**

685 US Highway 1,

North Brunswick Township, NJ 08902

Telephone: +1 848 230 7430

(Name, address, including zip code, and telephone number, including area code, of agent for service)

*With a Copy to:*

**Yu Wang, Esq.<br> Han Kun Law Offices LLP<br> Rooms 4301-10, 43/F., Gloucester Tower**

**The Landmark**

**15 Queen's Road Central, Hong Kong<br> +852 6386 1503**

Approximate date of commencement of proposed sale to the public: From time to time after the effective date of the registration statement.

If only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. ☐

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a registration statement pursuant to General Instruction I.C. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. ☐

If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.C. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. ☐

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933.

Emerging growth company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

&nbsp;&nbsp;&nbsp;&nbsp;† The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

**The Registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment that specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act, or until this registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.**

**EXPLANATORY NOTE**

Adlai Nortye Ltd. is filing this Amendment No. 2 (this "Amendment No.2") to its registration statement on Form F-3 (File No. 333-294173), as amended, originally filed on March 10, 2026, or the Registration Statement, as an exhibit-only filing solely to file the Opinion of Maples and Calder (Hong Kong) LLP as Exhibits 5.1 and 23.3. Accordingly, this Amendment No. 2 consists solely of the facing page, this explanatory note, Part II of the Registration Statement, the signature page to the Registration Statement, the exhibit index and the filed Exhibits 5.1 and 23.3. The prospectus contained in Part I of the Registration Statement is unchanged and has been omitted from this Amendment No.2.

**PART II**

**INFORMATION NOT REQUIRED IN PROSPECTUS**

**Item 8. Indemnification of Directors and Officers**

We have entered into employment agreements with each of our executive officers. Under these agreements, each of our executive officers is employed for a specified time period. We may terminate employment for cause, at any time, for certain acts of the executive officer, such as continued failure to satisfactorily perform, willful misconduct or gross negligence in the performance of agreed duties, conviction or entry of a guilty or nolo contendere plea of any felony or any misdemeanor involving moral turpitude, or dishonest act that results in material financial, reputational or other harm to us or material breaches of the employment agreement. We may also terminate an executive officer's employment without cause upon 60-day prior written notice. In such case of termination by us, we will provide severance payments to the executive officer as may be agreed between the executive officer and us. The executive officer may terminate the employment at any time with a 60-day prior written notice.

Each executive officer has agreed to hold, both during the term of the employment and at all times thereafter, in strict confidence and not to use, except as required in the performance of his or her duties in connection with the employment or pursuant to applicable law, any of our confidential information or trade secrets, any confidential information or trade secrets of our clients or prospective clients, or the confidential or proprietary information of any third party received by us and for which we have confidential obligations. The executive officers have also agreed to disclose in confidence to us all inventions, designs, and trade secrets which they conceive, develop or reduce to practice during the executive officer's employment with us and to assign all right, title, and interest in them to us, and assist us in obtaining and enforcing patents, copyrights, and other legal rights for these inventions, designs, and trade secrets.

In addition, each executive officer has agreed to be bound by non-competition and non-solicitation restrictions during the term of his or her employment and typically for one year following the last date of employment. Specifically, each executive officer has agreed not to (i) approach the suppliers, clients, direct or end customers or contacts or other persons or entities introduced to the executive officers in his or her capacity as our representative for the purpose of doing business of the same or of a similar nature to our business or doing business that will harm our business relationships with the foregoing persons or entities; (ii) assume employment with or provide services to any of our competitors, or engage, whether as principal, partner, licensor or otherwise, any of our competitors, without our express consent; (iii) seek, directly or indirectly, to solicit the employment or services of, or hire or engage, any person who is known to be employed or engaged by us; or (iv) otherwise interfere with our business or accounts.

We have also entered into indemnification agreements with our directors and executive officers. Under these agreements, we agree to indemnify our directors and executive officers against certain liabilities and expenses incurred by such persons in connection with claims made by reason of their being a director or officer of our company.

**Item 9. Exhibits**

See Exhibit Index beginning on page II-3 of this registration statement.

**Item 10 Undertakings**

&nbsp;&nbsp;&nbsp;&nbsp;(a) The
undersigned registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;(1) To
file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933; (ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.

*provided, however*, that paragraphs (a)(1)(i), (a)(1)(ii), and (a)(1)(iii) of this section do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Securities and Exchange Commission by the registrant pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post- effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) To file a post-effective amendment to the registration statement to include any financial statements required by Item 8.A. of Form 20-F at the start of any delayed offering or throughout a continuous offering. Financial statements and information otherwise required by Section 10(a)(3) of the Securities Act of 1933 need not be furnished, provided, that the registrant includes in the prospectus, by means of a post-effective amendment, financial statements required pursuant to this paragraph (4) and other information necessary to ensure that all other information in the prospectus is at least as current as the date of those financial statements. Notwithstanding the foregoing, with respect to registration statements on Form F-3, a post-effective amendment need not be filed to include financial statements and information required by Section 10(a)(3) of the Securities Act of 1933 or Rule 3-19 of Regulation S-K if such financial statements and information are contained in periodic reports filed with or furnished to the SEC by the registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the Form F-3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by Section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. *Provided*, *however*, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities: The undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) That, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

**INDEX TO EXHIBITS**

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| | |
|:---|:---|
| **Exhibit<br> Number** | **Description of Document** |
| 4.1 | [Specimen American Depositary Receipt (included in Exhibit 4.2) (incorporated herein by reference as Exhibit 4.1 filed with the Registration Statement on Form F-1 (File No. 333-273465), initially filed on July 27, 2023)](http://www.sec.gov/Archives/edgar/data/1944552/000110465923089790/tm2225088d26_ex4-3.htm) |
| 4.2 | [Form of Deposit Agreement, among the Registrant, the depositary and the owners and holders of American Depositary Shares issued thereunder (incorporated herein by reference as Exhibit 4.3 filed with the Registration Statement on Form F-1 (File No. 333-273465), initially filed on July 27, 2023)](http://www.sec.gov/Archives/edgar/data/1944552/000110465923089790/tm2225088d26_ex4-3.htm) |
| 4.3\*\*\* | Form of Debt Security |
| 4.4\*\*\* | Form of Warranty Agreement and Warrant Certificate |
| 4.5\*\*\* | Form of Unit Agreement and Unit Certificate |
| 4.6\* | [Form of Indenture](http://www.sec.gov/Archives/edgar/data/1944552/000121390026046843/ea028182401ex4-6.htm) |
| 5.1\*\* | [Opinion of Maples and Calder (Hong Kong) LLP](ea028750001ex5-1.htm) |
| 23.1\* | [Consent of BDO China Shu Lun Pan Certified Public Accountants LLP](http://www.sec.gov/Archives/edgar/data/1944552/000121390026046843/ea028182401ex23-1.htm) |
| 23.2\* | [Consent of Mazars USA LLP](http://www.sec.gov/Archives/edgar/data/1944552/000121390026046843/ea028182401ex23-2.htm) |
| 23.3\*\* | [Consent of Maples and Calder (Hong Kong) LLP (included in Exhibit 5.1)](ea028750001ex5-1.htm) |
| 24.1\*\* | [Power of Attorney (included on signature page)](#poa_001) |
| 25.1† | Form T-1 Statement of Eligibility under the Trust Indenture Act of 1939 of the Trustee under the Debt Securities Indenture |
| 107\* | [Filing Fee Table](http://www.sec.gov/Archives/edgar/data/1944552/000121390026046843/ea028182401ex-fee.htm) |

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\* Filed previously.

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| | |
|:---|:---|
| \*\* | Filed herewith. |
| \*\*\* | To be filed, if applicable, by amendment or as an exhibit to a report filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and incorporated herein by reference. |
| † | To be filed, if necessary, on electronic Form 305b2 pursuant to Section 305(b)(2) of the Trust Indenture Act of 1939. |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Beijing, People's Republic of China, on April 24, 2026.

---

| | | |
|:---|:---|:---|
| **Adlai Nortye Ltd.** | **Adlai Nortye Ltd.** | **Adlai Nortye Ltd.** |
| By: | /s/ Yang Lu | /s/ Yang Lu |
|  | Name: | Yang Lu |
|  | Title: | Chief Executive Officer |

---

**POWER OF ATTORNEY**

Each person whose signature appears below hereby constitutes and appoints Yang Lu, as his true and lawful attorneys-in-fact and agents, with full power of substitution and re-substitution, in his or her name, place and stead, in any and all capacities (including his capacity as a director and/or officer of the registrant), to sign any and all amendments and post-effective amendments and supplements to this registration statement, and including any registration statement for the same offering that is to be effective upon filing pursuant to Rule 462(b) under the U.S. Securities Act of 1933, as amended, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or his substitute, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on April 24, 2026.

---

| | |
|:---|:---|
| **Name** | **Title** |
| /s/ Yang Lu | Chief Executive Officer and Chairman of the Board of Director |
| Yang Lu | (Principal Executive Officer) |
| /s/ Xiaofeng (Alex) Ye | Chief Financial Officer |
| Xiaofeng (Alex) Ye | (Principal Financial and Accounting Officer) |
| /s/ Ping Ji | Director |
| Ping Ji |  |
| /s/ Lars Erik Birgerson | Director |
| Lars Erik Birgerson |  |
| /s/ Roger Sawhney | Independent Director |
| Roger Sawhney |  |
| /s/ Shaorong Liu | Independent Director |
| Shaorong Liu |  |
| /s/ Ming Lun Alan Tse | Independent Director |
| Ming Lun Alan Tse |  |
| /s/ Baozhong Wei | Independent Director |
| Baozhong Wei |  |

---

**SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES**

Pursuant to the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of America of Adlai Nortye Ltd., has signed this registration statement thereto in New York, United States of America on April 24, 2026.

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| | |
|:---|:---|
| **Adlai Nortye USA Inc.** | **Adlai Nortye USA Inc.** |
| Authorized U.S. Representative | Authorized U.S. Representative |
| By: | /s/ Yang Lu |
| Name: | Yang Lu |
| Title: | Director |

---

## Exhibit 5.1

**Exhibit 5.1**

![](ea028750001_ex5-1img1.jpg)

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| | |
|:---|:---|
| **Our ref** | JVZ/744148-000006/86519447v2 |

---

**Adlai Nortye Ltd.**

PO Box 309

Ugland House

Grand Cayman

KY1-1104

Cayman Islands

24 April 2026

Dear Sirs

**Adlai Nortye Ltd.**

We have acted as Cayman Islands legal advisers to Adlai Nortye Ltd. (the "Company") in connection with the Company's registration statement on Form F-3, including all amendments or supplements thereto (the "**Registration Statement**"), filed with the Securities and Exchange Commission under the U.S. Securities Act of 1933, as amended to date relating to (i) up to US$600,000,000 securities to be issued and sold by the Company from time to time and (ii) the offer and resale by the selling securityholders (the "**Selling Securityholders**") named in the Registration Statement of up to 98,577,627 Class A Ordinary Shares (the "**Resale Shares**"). Such securities include:

&nbsp;&nbsp;&nbsp;&nbsp;a) class A ordinary shares
 of the Company of a par value of US$0.0001 each (the "**Shares** "), including in the form of American depositary shares,
 each representing 3 Shares (the "**ADSs** ");

&nbsp;&nbsp;&nbsp;&nbsp;b) certain debt securities
 of the Company, which may include debt securities exchangeable for or convertible into Shares (collectively the "**Debt Securities** "),
 each series of Debt Securities to be issued under indentures to be entered into by the Company and the trustee for such Debt Securities
 (the "**Indentures** ");

&nbsp;&nbsp;&nbsp;&nbsp;c) warrants to subscribe for
 Shares in the Company (the "**Warrants**") to be issued under warrant agreements to be entered into between the Company
 and the warrant agent for such Warrants thereunder (the "**Warrant Agreements** ");

&nbsp;&nbsp;&nbsp;&nbsp;d) subscription rights to
 purchase Shares in the Company (the "**Subscription Rights**") to be issued under standby underwriting agreements
 to be entered into among the Company and one or more underwriters for such Subscription Rights thereunder (the "**Subscription Rights Agreements** "); and

&nbsp;&nbsp;&nbsp;&nbsp;e) units comprising of one
 or more of the ADSs, Debt Securities, Warrants, or Subscription Rights in any combination (the "**Units**") to be
 issued under unit agreements to be entered into between the Company and the unitholder for such Units thereunder (the "**Unit Agreements** ").

**Maples and Calder (Hong Kong) LLP**

26th Floor Central Plaza 18 Harbour Road Wanchai Hong Kong

Tel +852 2522 9333 Fax +852 2537 2955 **maples.com**

Resident Hong Kong Partners: Ann Ng (Victoria (Australia)), Aisling Dwyer (British Virgin Islands), John Trehey (New Zealand)

Matthew Roberts (Western Australia (Australia)), Terence Ho (New South Wales (Australia)), W.C. Pao (England and Wales)

Sharon Yap (New Zealand), Nick Stern (England and Wales), Juno Huang (Queensland (Australia)), Karen Pallaras (Victoria (Australia))

Joscelyne Ainley (England and Wales), Andrew Wood (England and Wales), Iain Anderson (Scotland), Aidan O'Regan (Ireland)

Zhan Xintong Jessica (England and Wales), Vivian Lee (England and Wales)

Non-Resident Partner: Jonathan Green (Cayman Islands)

Cayman Islands Attorneys at Law \| British Virgin Islands Solicitors

We are furnishing this opinion as Exhibits 5.1 and 23.3 to the Registration Statement.

Documents Reviewed

For the purposes of this opinion, we have reviewed only originals, copies or final drafts of the following documents:

1.1 The certificate of incorporation
 dated 9 May 2018 and the certificate of incorporation on adoption of dual foreign name dated 19 July 2021 issued by the Registrar
 of Companies in the Cayman Islands.

1.2 The seventh amended and
 restated memorandum and articles of association of the Company adopted by a special resolution passed on 17 April 2023 and effective
 immediately prior to the completion of the Company's initial public offering of American Depository Shares representing its
 Shares (the "**Memorandum and Articles** ").

1.3 The written resolutions
 of the board of directors of the Company dated 17 April 2026 (the "**Resolutions** ").

1.4 A certificate of good standing
 dated 16 April 2026, issued by the Registrar of Companies in the Cayman Islands (the "**Certificate of Good Standing** ").

1.5 A certificate from a director
 of the Company, a copy of which is attached hereto (the "**Director's Certificate** ").

1.6 The Registration Statement.

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| | |
|:---|:---|
| **2** | **Assumptions** |

---

The following opinions are given only as to, and based on, circumstances and matters of fact existing and known to us on the date of this opinion letter. These opinions only relate to the laws of the Cayman Islands which are in force on the date of this opinion letter. In giving these opinions we have relied (without further verification) upon the completeness and accuracy, as of the date of this opinion letter, of the Director's Certificate and the Certificate of Good Standing. We have also relied upon the following assumptions, which we have not independently verified:

2.1 Copies of documents, conformed
 copies or drafts of documents provided to us are true and complete copies of, or in the final forms of, the originals.

2.2 All signatures, initials
 and seals are genuine.

2.3 There is no contractual
 or other prohibition or restriction (other than as arising under Cayman Islands law) binding on the Company prohibiting or restricting
 it from entering into and performing its obligations under the Registration Statement and a duly authorised, executed and delivered
 Indenture, Warrant Agreement, Subscription Rights Agreement or Unit Agreement.

2.4 The Company will have sufficient
 authorised capital to effect the issue of the Shares at the time of issuance.

2.5 The Indentures and the
 Debt Securities, the Warrant Agreements and the Warrants, the Subscription Rights and the Subscription Rights Agreements and the
 Units and the Unit Agreements, will be, legal, valid, binding and enforceable against all relevant parties in accordance with their
 terms under the laws of the State of New York and all other relevant laws (other than, with respect to the Company, the laws of the
 Cayman Islands).

2.6 The choice of the laws
 of the State of New York as the governing law of the Indenture and the Debt Securities, the Warrant Agreements and the Warrants and
 the Subscription Rights and the Subscription Rights Agreements, will be made in good faith and would be regarded as a valid and binding
 selection which will be upheld by the courts of the State of New York and any other relevant jurisdiction (other than the Cayman
 Islands) as a matter of the laws of the State of New York and all other relevant laws (other than the laws of the Cayman Islands).

2.7 The capacity, power, authority
 and legal right of all parties under all relevant laws and regulations (other than, with respect to the Company, the laws and regulations
 of the Cayman Islands) to enter into, execute, unconditionally deliver and perform their respective obligations under the Indenture
 and the Debt Securities, the Warrant Agreements and the Warrants and the Subscription Rights and the Subscription Rights Agreements.

2.8 No monies paid to or for
 the account of the Company in respect of the Shares, the Debt Securities, the Warrants, the Subscription Rights or the Units represent
 or will represent proceeds of criminal conduct or criminal property or terrorist property (as defined in the Proceeds of Crime Act
 (As Revised) and the Terrorism Act (As Revised) respectively).

2.9 There is nothing under
 any law (other than the law of the Cayman Islands), which would or might affect the opinions set out below.

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| | |
|:---|:---|
| **3** | **Opinions** |

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Based upon the foregoing assumptions and subject to the qualifications set out below and having regard to such legal considerations as we deem relevant, we are of the opinion that:

3.1 The Company has been duly
 incorporated as an exempted company with limited liability and is validly existing and in good standing with the Registrar of Companies
 under the laws of the Cayman Islands.

3.2 The authorised share capital
 of the Company is US$50,000 divided into 500,000,000 ordinary shares, compromising of (i) 434,709,000 Class A ordinary shares with
 a par value of US$0.0001 each, (ii) 16,990,000 Class B ordinary shares with a par value of US$0.0001 each, and (iii) 48,301,000 undesignated
 shares with a par value of US$0.0001 each.

3.3 With respect to the Shares,
 including those represented by ADSs, when (i) the board of the Company (the "**Board**") has taken all necessary corporate
 action to approve the issue thereof, the terms of the offering thereof and related matters; (ii) the issue of such Shares has been
 recorded in the Company's register of members (shareholders); and (iii) the subscription price of such Shares, (being not less
 than the par value of the Shares, as the case may be) has been fully paid in cash or other consideration approved by the Board, the
 Shares will be duly authorised, validly issued, fully paid and non-assessable.

3.4 With respect to each issue
 of the Debt Securities, when (i) the Board has taken all necessary corporate action to approve the creation and terms of the Debt
 Securities and to approve the issue thereof, the terms of the offering thereof and related matters; (ii) an Indenture relating to
 the Debt Securities and the Debt Securities shall have been authorised and duly executed and delivered by and on behalf of the Company
 and all the relevant parties thereunder in accordance with all relevant laws; and (iii) when such Debt Securities issued thereunder
 have been duly executed and delivered on behalf of the Company and authenticated in the manner set forth in the Indenture relating
 to such issue of Debt Securities and delivered against due payment therefor pursuant to, and in accordance with, the terms of the
 Registration Statement and any relevant prospectus supplement, such Debt Securities issued pursuant to the Indenture will have been
 duly executed, issued and delivered.

3.5 With respect to each issue
 of Warrants, when (i) the Board has taken all necessary corporate action to approve the creation and terms of the Warrants and to
 approve the issue thereof, the terms of the offering thereof and related matters; (ii) a Warrant Agreement relating to the Warrants
 shall have been duly authorised and validly executed and delivered by the Company and the warrant agent thereunder; and (iii) the
 certificates representing the Warrants have been duly executed, countersigned, registered and delivered in accordance with the Warrant
 Agreement relating to the Warrants and the applicable definitive purchase, underwriting or similar agreement approved by the Board
 upon payment of the consideration therefor provided therein, the Warrants will have been duly authorised, legal and binding obligations
 of the Company.

3.6 With respect to each issue
 of the Subscription Rights, when (i) the Board has taken all necessary corporate action to approve the creation and terms of the
 Subscription Rights and to approve the issue thereof, the terms of the offering thereof and related matters; (ii) a Subscription
 Rights Agreement relating to the Subscription Rights and the Subscription Rights shall have been authorised and duly executed and
 delivered by and on behalf of the Company and all the relevant parties thereunder in accordance with all relevant laws; and (iii)
 when such Subscription Rights issued thereunder have been duly executed and delivered on behalf of the Company and authenticated
 in the manner set forth in the Subscription Rights Agreement relating to such issue of Subscription Rights and delivered against
 due payment therefor pursuant to, and in accordance with, the terms of the Registration Statement and any relevant prospectus supplement,
 such Subscription Rights issued pursuant to the Subscription Rights Agreement will have been duly executed, issued and delivered.

3.7 With respect to each issue
 of the Units, when (i) the Board has taken all necessary corporate action to approve the creation and terms of the Units and to approve
 the issue thereof, the terms of the offering thereof and related matters; (ii) a Unit Agreement relating to the Units and the Units
 shall have been authorised and duly executed and delivered by and on behalf of the Company and all the relevant parties thereunder
 in accordance with all relevant laws; and (iii) when such Units issued thereunder have been duly executed and delivered on behalf
 of the Company and authenticated in the manner set forth in the Unit Agreement relating to such issue of Units and delivered against
 due payment therefor pursuant to, and in accordance with, the terms of the Registration Statement and any relevant prospectus supplement,
 such Units issued pursuant to the Unit Agreement will have been duly executed, issued and delivered.

3.8 The issue and allotment
 of the Resale Shares to be offered and sold by the Selling Securityholders as contemplated in the Registration Statement have been
 duly authorised. The Shares are legally issued and allotted and (assuming the purchase price therefor has been paid in full) fully
 paid and non-assessable. As a matter of Cayman Islands law, a share is only issued when it has been entered in the register of members
 (shareholders).

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|:---|:---|
| **4** | **Qualifications** |

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The opinions expressed above are subject to the following qualifications:

4.1 To maintain the Company
 in good standing with the Registrar of Companies under the laws of the Cayman Islands, annual filing fees must be paid and returns
 made to the Registrar of Companies within the time frame prescribed by law.

4.2 Under the Companies Act
 (As Revised) of the Cayman Islands (the "**Companies Act** "), the register of members of a Cayman Islands company
 is by statute regarded as prima facie evidence of any matters which the Companies Act directs or authorises to be inserted in it.
 A third party interest in the shares in question would not appear. An entry in the register of members may yield to a court order
 for rectification (for example, in the event of fraud or manifest error).

4.3 In this opinion the phrase
 "non-assessable" means, with respect to the Shares in the Company, that a shareholder shall not, solely by virtue of
 its status as a shareholder, and in absence of a contractual arrangement, or an obligation pursuant to the memorandum and articles
 of association, to the contrary, be liable for additional assessments or calls on the Shares by the Company or its creditors (except
 in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose
 or other circumstances in which a court may be prepared to pierce or lift the corporate veil).

4.4 The obligations of the
 Company may be subject to restrictions pursuant to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) United Nations and United
 Kingdom sanctions extended to the Cayman Islands by Orders in Council; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) sanctions imposed by Cayman
 Islands authorities under Cayman Islands legislation.

4.5 We express no opinion as
 to the meaning, validity or effect of any references to foreign (i.e. non-Cayman Islands) statutes, rules, regulations, codes, judicial
 authority or any other promulgations and any references to them in the Securities Purchase Agreement.

Except as specifically stated herein, we make no comment with respect to any representations and warranties which may be made by or with respect to the Company in any of the documents or instruments cited in this opinion or otherwise with respect to the commercial terms of the transactions, which are the subject of this opinion.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the reference to our name under the headings "Enforceability of Civil Liabilities" and "Legal Matters" and elsewhere in the prospectus included in the Registration Statement. In giving such consent, we do not thereby admit that we come within the category of persons whose consent is required under Section 7 of the U.S. Securities Act of 1933, as amended, or the Rules and Regulations of the Securities and Exchange Commission thereunder.

Yours faithfully

![](ea028750001_ex5-1img2.jpg)

Maples and Calder (Hong Kong) LLP

**Director's Certificate**

**Director's Certificate**

Apr <u>24,</u> 2026

To: Maples and Calder (Hong Kong) LLP 26th Floor, Central Plaza

18 Harbour Road

Wanchai, Hong Kong

Dear Sirs

**Adlai Nortye Ltd. (the "Company")**

I, the undersigned, being a director of the Company, am aware that you are being asked to provide a legal opinion (the "**opinion**") in relation to certain aspects of Cayman Islands law. Capitalised terms used in this certificate have the meaning given to them in the Opinion. I hereby certify that:

1 The Memorandum and Articles remain in full force and effect and are otherwise unamended.

2 The Resolutions were duly passed in the manner prescribed in the Memorandum and Articles (including, without limitation, with respect to the disclosure of interests (if any) by directors of the Company) and have not been amended, varied or revoked in any respect.

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|:---|:---|
| 3 | The authorised share capital of the Company is US$50,000 divided into 500,000,000 ordinary shares, compromising of (i) 434,709,000 Class A ordinary shares with a par value of US$0.0001 each, (ii) 16,990,000 Class B ordinary shares with a par value of US$0.0001 each, and (iii) 48,301,000 undesignated shares with a par value of US$0.0001 each. |

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4 All of the issued shares in the capital of the Company have been duly and validly authorised and issued and are fully paid and non-assessable (meaning that no further sums are payable to the Company on such shares and the Company has received payment therefor).

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| | |
|:---|:---|
| 5 | The shareholders of the Company have not restricted or limited the powers of the directors of the Company in any way and there is no contractual or other prohibition (other than as arising under Cayman Islands law) binding on the Company prohibiting it from issuing and allotting the Shares or otherwise performing its obligations under the Registration Statement. |

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6 The directors of the Company at the date of the Resolutions and as at the date of this certificate were and are as follows: LU Yang, Ji Ping, Lars Erik Birgerson, Shaorong Liu, Ming Lun Alan Tse, Roger Sawhney and Baozhong Wei.

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| | |
|:---|:---|
| 7 | Each director of the Company considers the transactions contemplated by the Registration Statement to be of commercial benefit to the Company and has acted bona fide in the best interests of the Company, and for a proper purpose of the Company in relation to the transactions which are the subject of the Opinion. |

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|:---|:---|
| 8 | To the best of my knowledge and belief, having made due inquiry, the Company is not the subject of legal, arbitral, administrative or other proceedings in any jurisdiction and neither the directors nor shareholders of the Company have taken any steps to have the Company struck off or placed in liquidation. Further, no steps have been taken to wind up the Company or to appoint restructuring officers or interim restructuring officers, and no step has been taken to appoint a receiver in relation to any of the Company's property or assets. |

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9 No interest in the Company constituting shares, voting rights or ultimate effective control over management in the Company is currently subject to a restrictions notice issued under the Beneficial Ownership Transparency Act (As Revised).

10 The Company is not a central bank, monetary authority or other sovereign entity of any state and is not a subsidiary, direct or indirect, of any sovereign entity or state.

I confirm that you may continue to rely on this Certificate as being true and correct on the day that you issue the Opinion unless I shall have previously notified you personally to the contrary.

[*signature page follows*]

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|:---|:---|
| Signature: | ![](ea028750001_ex5-1img3.jpg) |
| Name: |  |
| Title: | Director |

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