Announcement • Jul 15
Itonic Holdings Ltd. Provides Update on Development of Ai-Powered Cloud Healthcare Platform for Nuclear Medicine Treatment Planning iTonic Holdings Ltd. has announced continued progress in the development of its next-generation AI-enabled Treatment Planning System ("TPS") Cloud Platform through Mili (Jiangsu) Medical Technology Co. Ltd. The TPS Cloud Platform is being developed to transform traditional standalone treatment planning software into a cloud-based healthcare collaboration platform by integrating artificial intelligence ("AI"), medical data connectivity, automated quality control and workflow management capabilities. Mili Medical is upgrading its traditional standalone TPS software into a browser-based cloud platform, and is expected to enable healthcare professionals to access treatment planning capabilities across multiple locations and devices without relying on local software installation, if successfully completed and registered as required by applicable laws and regulations. The platform is being developed to incorporate AI algorithms designed to assist physicians with treatment planning workflows, including target area identification, organ segmentation and optimization recommendations, with the objective of improving efficiency and reducing operational complexity. These intended capabilities remain subject to further development, testing, clinical workflow validation and applicable regulatory review. The platform is being developed with automated quality management functions designed to support treatment verification, workflow monitoring, reporting and data traceability throughout the treatment process. The modular cloud architecture is designed to support future expansion into additional healthcare applications, including medical data management, supply chain coordination, research collaboration and intelligent healthcare services. As of the date of this announcement, the Company has completed significant development milestones, including: Core cloud architecture development; Browser-based TPS functionality development; Medical data sharing framework development; Initial AI model training; Quality control rule framework development. The Company is currently conducting internal testing, system optimization and clinical workflow validation. The platform has not been clinically validated for commercial use and has not received registration, clearance or approval from applicable regulators. The Company continues to evaluate collaboration opportunities with healthcare institutions to support future commercialization and market deployment. The TPS Cloud Platform is being developed by the Company to address these limitations by creating a centralized digital environment that connects physicians, medical departments and healthcare institutions through secure cloud-based workflows. The platform is expected to provide: Browser-based treatment planning access; Multi-location collaboration capabilities; Standardized medical data management; Automated workflow monitoring; Enhanced treatment planning efficiency. A core component of the platform is the integration of artificial intelligence technology designed to support clinical decision-making. The AI module is being developed to assist with: Automated identification and segmentation of treatment areas; Intelligent treatment plan recommendations; Continuous algorithm improvement through clinical data feedback; Reduction of repetitive manual processes. The Company is also developing a comprehensive quality control module intended to create a digital monitoring framework covering key treatment planning processes. Potential capabilities include: Treatment plan verification; Automated quality checks; Data recording and traceability; Exception alerts and reporting; Integration with existing hospital information systems. Following completion and validation of the core cloud platform, the Company plans to explore additional modular applications, including: Healthcare supply chain management: Digital tracking and management of medical supplies and equipment; Nuclear medicine management: Supporting lifecycle tracking of nuclear medicine materials and related records; Medical robotics integration: Potential connection between treatment planning systems and advanced medical equipment; Clinical research and patient management tools: Supporting research collaboration and long-term patient data management. The TPS Cloud Platform is expected to be regulated as medical device software in China and remains subject to applicable regulatory requirements, including registration testing, registration application and review procedures. The platform has not received regulatory approval or registration for commercialization, and there can be no assurance as to the timing or outcome of any required registration or approval process. Any delay in completing applicable regulatory procedures could delay the platform’s commercialization and market deployment. Announcement • Jun 24
Itonic Holdings Ltd Announces Board and Committee Changes, Effective June 18, 2026 iTonic Holdings Ltd. announced that on June 18, 2026, Mr. Bin Wu tendered his resignation as an independent director of the Company, effective June 18, 2026. Mr. Wu's resignation was due to personal reasons, and not as a result of any disagreement between Mr. Wu and the Company on any matter relating to the Company's operations, policies or practices. Concurrently with the resignation of Mr. Wu, the board of directors of the Company appointed Kun Yang to succeed Mr. Wu as a new independent director of the Company on June 18, 2026. Kun Yang was also appointed to succeed Mr. Wu as a member of the Audit Committee, the Corporate Governance and Nominating Committee and the Compensation Committee of the Company and will replace Mr. Wu as the chair of the Corporate Governance and Nominating Committee. Kun Yang will become the new chair of the Corporate Governance and Nominating Committee. Kun Yang graduated from Hunan University of Technology and Business in July 2013 and obtained a bachelor's degree in accounting. In July 2021, Kun Yang obtained a master's degree in professional accounting from Jinan University. New Risk • Jun 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 7x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 103% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 7x increase in shares outstanding). Revenue is less than US$1m (US$523k revenue). Minor Risk Market cap is less than US$100m (US$32.8m market cap). Reported Earnings • Apr 01
Full year 2025 earnings released: US$0.32 loss per share (vs US$0.052 loss in FY 2024) Full year 2025 results: US$0.32 loss per share (further deteriorated from US$0.052 loss in FY 2024). Net loss: US$5.10m (loss widened US$4.44m from FY 2024). Announcement • Mar 25
iTonic Holdings Ltd. announced that it expects to receive $20 million in funding iTonic Holdings Ltd. announced that it has entered into a private placement subscription agreement with certain investors for a private placement offering of 100,000,000 Class A ordinary shares of par value $0.0001 per share at an issue price of $0.20 per Class A Ordinary Share for gross proceeds of $20,000,000 on March 23, 2026. The Private Placement is expected to close in April 2026, subject to satisfaction or waiver of the condition's precedent set forth in the Subscription Agreement. The Class A Ordinary Shares issued in the Private Placement are subject to a six-month lock-up period from the date of issuance. Board Change • Feb 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Director Pengfei Zhang is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 
