Zhejiang Huahai Pharmaceutical Co., Ltd.’s progress announcement on providing guarantees for its holding subsidiaries
Securities code: 600521 Securities abbreviation: Huahai Pharmaceutical Announcement number: Lin 2026-075 Bond code: 110076 Bond abbreviation: Huahai Convertible Bonds
Zhejiang Huahai Pharmaceutical Co., Ltd.
Announcement on the progress of providing guarantees for holding subsidiaries
The company's board of directors and all directors guarantee that the contents of this announcement do not contain any false records, misleading statements or major omissions, and assume legal responsibility for the authenticity, accuracy and completeness of its contents.
Important content reminder:
Guaranteed objects and basic information
actually provided for
Is it expected in the early stage? Is there a name of the guaranteed person in this guarantee? The amount of this guarantee? The guarantee balance (excluding
Counter guarantee within the limit (amount of this guarantee)
Shanghai Huaotai Biopharmaceuticals
300 million yuan 00,000 yuan Yes No Industry Co., Ltd.
Cumulative guarantee status
Cumulative amount of overdue external guarantees (10,000 yuan) 0
As of the date of this announcement, listed companies and their holding subsidiaries
634,850.83
Total amount of external guarantees (10,000 yuan)
Total external guarantees accounted for 10% of listed companies’ latest audited
67.23
Proportion of calculated net assets (%)
□The guarantee amount (including this time) exceeds 50% of the latest audited net assets of the listed company
□The total amount of external guarantees (including this one) exceeds the latest special risk warning of the listed company (please check if there is one) and the audited net assets are 100%
□The total amount of guarantees for units outside the consolidated statements (including this time) reaches or exceeds 30% of the latest audited net assets
√ This time, guarantees will be provided to units whose asset-liability ratio exceeds 70%. Other risk reminders (if any) None
Note 1. The “total amount of external guarantees” in the above table refers to the sum of the unused limit within the approved guarantee limit and the actual balance of the guarantee.
- The company held the first meeting of the ninth session of the board of directors on April 28, 2026, and reviewed and approved the "Proposal on Increasing Capital of the Holding Subsidiaries through Debt-for-Equity Swapping". The board of directors agreed that the company would subscribe for an additional 182,857,143 shares of Hua Aotai with a total debt holding of RMB 2 billion in Hua Aotai. This matter has recently been completed with industrial and commercial change registration. Therefore, the "asset-liability ratio" in the above table refers to the data as of March 31, 2026.
1. Overview of guarantee situation
(1) Basic information on guarantee
Due to the actual development needs of Shanghai Huaotai Biopharmaceutical Co., Ltd. (hereinafter referred to as "Huaotai"), a subsidiary of the company, on June 26, 2026 On the same day, Zhejiang Huahai Pharmaceutical Co., Ltd. (hereinafter referred to as the "Company" or "Huahai Pharmaceutical") signed the "Guarantee Contract" and the "Maximum Guarantee Contract" with Taizhou Linhai Branch of China CITIC Bank Co., Ltd. (hereinafter referred to as "CITIC Bank") and Taizhou Branch of Shanghai Pudong Development Bank Co., Ltd. (hereinafter referred to as "Pudong Development Bank"), respectively, for the 10,000 that Huaote applied for from CITIC Bank It provides a joint liability guarantee for a loan of RMB 10,000, and also provides a joint liability guarantee for Huaotai's application from Shanghai Pudong Development Bank for a loan of up to RMB 200,000,000.
This guarantee falls within the scope of authorization by the company's 2025 annual shareholders' meeting and is within the validity period of the authorization. It does not need to be submitted again to the company's board of directors and shareholders' meeting for review.
This guarantee does not involve related transactions and there is no counter-guarantee.
(2) Internal decision-making procedures
The company held the first meeting of the ninth board of directors and the 2025 annual shareholders' meeting on April 28, 2026 and May 21, 2026 respectively. The meeting reviewed and approved the "Proposal on the Company's Application for a Comprehensive Credit Line from the Bank and the Provision of Guarantee in 2026", and agreed that the company would provide a total of no more than RMB 4.4 billion in credit guarantees for the credit lines applied by its controlled subsidiaries from the banks (including the company's provision of no more than RMB 10 for Huaote's application for the credit line from the bank). 100 million yuan of credit guarantee).
For details, please refer to the "Announcement of Zhejiang Huahai Pharmaceutical Co., Ltd. on the Company's Application for Comprehensive Credit Lines from Banks and Provision of Guarantees in 2026" published by the company in China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily and the Shanghai Stock Exchange website (www.sse.com.cn) on April 30, 2026 and May 22, 2026 respectively (Announcement No.: Lin 2026-036 No.), "Announcement on the Resolution of the 2025 Annual Shareholders Meeting of Zhejiang Huahai Pharmaceutical Co., Ltd." (Announcement No.: Lin 2026-054).
2. Basic information of the guaranteed person
(1) Basic situation
Type of guaranteed person Legal person
Name of guaranteed person Shanghai Huaotai Biopharmaceutical Co., Ltd.
Type of guaranteed party and listing
Holding subsidiaries
Company shareholdings
Huahai Pharmaceutical holds 87.07% of Huaotai Biotechnology;
Linhai Huahai Investment Management Partnership (Limited Partnership), a subsidiary of Huahai Pharmaceutical, holds the major shareholder and shareholding ratio of Huaotai
Biological 8.95%;
Linhai Haijing Venture Capital Partnership (Limited Partnership) holds 3.98% of the equity of Huaotai Biotech. Legal representative Chen Baohua
Unified social credit code 91310115078133145H
Established on September 10, 2013
Place of registration: 1st Floor, Building 2, No. 538 Cai Lun Road, China (Shanghai) Pilot Free Trade Zone
Registered capital 502,857,143 yuan
Company type: Joint stock limited company (unlisted, natural person investment or holding)
Licensed items: wholesale of medicines; commissioned production of medicines. (Projects that require approval according to law can only be carried out with the approval of relevant departments. Specific business projects shall be subject to the approval documents or licenses of relevant departments)
Business scope: General projects: medical research and experimental development (except human stem cells, genetic diagnosis and treatment technology development and application); technology search services, technology development, technology consulting, technology exchange, technology transfer, technology promotion; import and export of goods; technology import and export. (Except for projects that require approval according to law, business activities can be carried out independently with a business license and in accordance with the law)
December 31, 2025 (reviewed March 31, 2026 (unreviewed project
Total assets Total assets 68,120.53 81,516.48
Total liabilities 204,590.78 225,233.32
Main financial indicators (10,000 yuan)
Net assets -136,470.24 -143,716.84
Project 2025 (audited) Operating income from January to March 2026 (unaudited) 437.08 0
Net profit -39,575.24 -7,315.96
3. Main contents of the guarantee agreement
(1) "Guarantee Contract" signed with China CITIC Bank
On June 26, 2026, the company signed a "Guarantee Contract" with China CITIC Bank. The main contents of the contract are as follows:
Guarantor: Zhejiang Huahai Pharmaceutical Co., Ltd.
Creditor: China CITIC Bank Co., Ltd. Taizhou Linhai Branch
Guaranteed person: Shanghai Huaotai Biopharmaceutical Co., Ltd.
Guarantee method: joint liability guarantee
Guarantee period: three years from the expiration of the debt performance period under the independent contract. Guarantee amount: corresponding loan contract amount of RMB 100 million
Scope of guarantee: The scope of this guarantee includes the main creditor's rights, interest, penalty interest, compound interest, liquidated damages, damages, debt interest during delayed performance, delayed performance fees, expenses for realizing creditor's rights, etc. under the main contract.
(2) "Maximum Guarantee Contract" signed with Shanghai Pudong Development Bank
On June 26, 2026, the company signed the "Maximum Guarantee Contract" with Shanghai Pudong Development Bank. The main contents of the contract are as follows:
Guarantor: Zhejiang Huahai Pharmaceutical Co., Ltd.
Creditor: Taizhou Branch of Shanghai Pudong Development Bank Co., Ltd. Guarantee: Shanghai Huaotai Biopharmaceutical Co., Ltd.
Guarantee method: joint liability guarantee
Guarantee period: starting from the expiration date of the debt performance period of each creditor's rights contract and ending three years after the expiration date of the debt performance period stipulated in the creditor's rights contract.
Guarantee amount: corresponding loan contract amount of RMB 200 million
Scope of guarantee: The scope of this guarantee includes the main creditor's rights, interest, penalty interest, compound interest, liquidated damages, damages, debt interest during delayed performance, delayed performance fees, expenses for realizing creditor's rights, etc. under the main contract.
4. Necessity and Reasonability of Guarantee
This guarantee is to meet the capital needs of the company's subsidiary Huaotai in the business development process, and is in line with the company's overall interests and development strategy. The guaranteed party Huaotai is a holding subsidiary of the company. The company can effectively control the risks of its daily operating activities and business decisions, and can control its credit status in a timely manner without harming the interests of the company and shareholders.
5. Opinions of the Board of Directors
The company held the first meeting of the ninth board of directors and the 2025 annual shareholders' meeting on April 28, 2026 and May 21, 2026 respectively. The meeting reviewed and approved the "Proposal on the Company's Application for Comprehensive Credit Lines and Guarantees from Banks in 2026". On the premise of ensuring operational standards and risk controllability, the company provided a total of no more than RMB 44 for the credit lines applied by its holding subsidiaries from banks. A credit guarantee of RMB 100 million (including a credit guarantee of no more than RMB 1 billion provided by the company for Huaotai to apply for a credit line from the bank).
In order to improve work efficiency and handle financing business in a timely manner, the company's shareholders' meeting authorizes the board of directors (or persons authorized by the board of directors) to handle relevant procedures within the above-mentioned comprehensive credit limit and guarantee limit, including but not limited to selecting a bank, signing a credit-related contract agreement with the bank, signing a guarantee contract and other relevant legal documents. Specific implementation matters do not need to be submitted to the company's board of directors or shareholders' meeting for review. This authorization will be effective for one year from the date of review and approval at the company's 2025 annual shareholders' meeting.
6. Cumulative number of external guarantees and number of overdue guarantees
As of the disclosure date of this announcement, the total amount of external guarantees provided by the company and its subsidiaries (the total guarantee refers to the sum of the unused limit within the approved guarantee limit and the actual balance of the guarantee) is 6,348,508,300 yuan, accounting for 67.23% of the company’s latest audited net assets. They are all guarantees provided by the company to its wholly-owned subsidiaries, holding subsidiaries and joint-stock companies. Among them, the company's total guarantees for subsidiaries are 6.085775 million yuan, accounting for 64.45% of the company's most recent audited owner's equity attributable to shareholders of listed companies; the company's total guarantees for joint-stock companies are 262.7333 million yuan, accounting for 2.78% of the company's most recent audited owner's equity attributable to shareholders of listed companies.
As of the disclosure date of this announcement, the company and its subsidiaries have no overdue guarantees.
Announcement is hereby made.
Board of Directors of Zhejiang Huahai Pharmaceutical Co., Ltd.
June 29, 2026