HCW BIOLOGICS INC

Ticker: HCWB CUSIP: 40423R204 Class: Common Stock

SBI Securities Co., Ltd.'s Holding History (CIK: 0001851815)

Note: Option positions (PUT/CALL) are excluded.

Q3 2025

Shares 1 Value ($000) $0 Avg Close $4.35 Range $2.77 - $7.35

Q2 2025

Shares 6 Value ($000) $0 Avg Close $7.27 Range $3.55 - $17.80

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2025	1	$0	$4.35	$2.77 - $7.35
Q2 2025	6	$0	$7.27	$3.55 - $17.80