-- Announcement on Postponement of Investment Projects Financed by Raised Funds
Securities code: 603168 Securities abbreviation: Shapuaisi Announcement number: Lin 2025-056
Zhejiang Shapuaisi Pharmaceutical Co., Ltd.
Announcement on the postponement of fundraising projects
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.
Zhejiang Shapuaisi Pharmaceutical Co., Ltd. (hereinafter referred to as the "Company", "Company" or "Sapuaisi") held the 6th meeting of the 6th Audit Committee and the 10th meeting of the 6th Board of Directors on September 24, 2025, and reviewed and approved the "Proposal on the Extension of Fund-raising Projects" and agreed to extend the time for the non-public issuance of stock investment project "Taizhou Women and Children's Hospital Co., Ltd. Hospital Phase II Construction Project" to reach the scheduled usable state until September 30, 2026. The sponsoring agency Shenwan Hongyuan Securities Underwriting and Recommendation Co., Ltd. made a clear verification opinion on this matter. The relevant information is now announced as follows:
1. Basic situation of raised funds
According to the China Securities Regulatory Commission’s “Reply on Approving the Non-public Issuance of Stocks by Zhejiang Shapuaisi Pharmaceutical Co., Ltd.” (CSRC Permit [2021] No. 3633), the company’s lead underwriter Shenwan Hongyuan Securities Underwriting and Sponsoring Co., Ltd. used the method of issuing shares to specific objects to issue 49,921,506 RMB ordinary shares (A shares) to specific objects Shanghai Yanghe Industrial Co., Ltd. and natural person Lin Hongyuan. shares, with a par value of RMB 1 per share and an issue price of RMB 6.37 per share. A total of RMB 317,999,993.22 was raised, and underwriting and sponsorship fees were deducted at RMB 3,400,000.00 (excluding prepaid underwriting and sponsorship fees of RMB 2,637,735.85. The total amount of underwriting and sponsorship fees excluding tax was 6,037,735.85 The raised funds after RMB 314,599,993.22 were remitted to the company’s raised funds supervision account by the lead underwriter Shenwan Hongyuan Securities Underwriting and Sponsoring Co., Ltd. on October 26, 2022. After deducting other issuance expenses of RMB 3,718,511.82 (excluding tax) such as attorney fees, audit fees, capital verification fees, and statutory information disclosure, the company’s net raised funds this time was RMB 308,243,745.55. The above-mentioned receipt of funds raised has been verified by Tianjian Accounting Firm (Special General Partnership), which issued a "Capital Verification Report" (Tianjianyan [2022] No. 564).
2. Usage of raised funds
(1) Investment plan and use of raised funds
As of June 30, 2025, the company has used a total of 309.1294 million yuan (unaudited) of funds raised from non-public issuance of stocks. The specific use of funds raised is as follows:
Amount unit: RMB 10,000 Total project investment Planned use of raised funds Accumulated investment Investment in
Project name
No. Amount Amount Amount
Taizhou Women and Children's Hospital Co., Ltd.
1 46,070.48 23,118.28 23,206.64 100.38%
Company Hospital Phase II Construction Project
2 Supplementary working capital 15,000.00 7,706.09 7,706.30 100.00%
Total 61,070.48 30,824.37 30,912.94 -
As of June 30, 2025, the raised funds deposited in all the company's special raised funds accounts have been used up in accordance with relevant regulations, and the account cancellation procedures have been completed. For details, please refer to the "Announcement on the Complete Use of Raised Funds and Cancellation of the Special Raised Fund Accounts" disclosed by the company on January 8, 2025 (Announcement Number: Lin 2025-001).
(2) Storage status of raised funds in special account
As of June 30, 2025, the company's storage status of funds raised from non-public issuance of shares is as follows:
Bank where the account is opened Account name Bank account number Remarks China CITIC Bank Co., Ltd. Jiaxing Zhejiang Shapuaisi Pharmaceutical Co., Ltd. Sold
8110801012902543458
Pinghu Branch Co., Ltd. account
Zhejiang Shapuaisi Pharmaceutical Co., Ltd. Sold to Shanghai Rural Commercial Bank Pudong Branch 50131000913387590
Co., Ltd.
Taizhou Women and Children's Hospital Co., Ltd. Sold to Shanghai Rural Commercial Bank Pudong Branch 50131000919106671
company account
3. Reasons for the postponement of this fundraising project and its impact on the company
(1) Overview of the postponement of this fundraising project
According to the current actual construction situation of the "Taizhou Women and Children's Hospital Co., Ltd. Hospital Phase II Construction Project", and provided that the implementation entity of the fundraising project, the purpose of the raised funds and the scale of the investment project do not change, the company, after careful study, plans to extend the date when the "Taizhou Women's and Children's Hospital Co., Ltd. Hospital Phase II Construction Project" reaches the scheduled usable state to September 30, 2026. In view that the funds raised by the company have been used according to the prescribed purposes, the remaining uninvested portion of the "Taizhou Women and Children's Hospital Co., Ltd. Hospital Phase II Construction Project" will be invested by the company with its own funds.
(2) Reasons for the postponement of this fundraising project
During the implementation of the fundraising project, considering the company's actual operating conditions and overall fund use arrangements, the company was relatively cautious in the implementation of the project, which slowed down the implementation progress of the project and delayed the actual investment progress of the project. According to the actual construction needs of the project and in order to improve the efficiency of fund use, the company decided to make appropriate adjustments to the investment pace of the raised investment projects and extend the time for this raised investment project to reach the scheduled usable state.
4. Implementation review procedures and related opinions
(1) Review procedures for deferred implementation of this fundraising project
The company held the 6th meeting of the 6th Audit Committee and the 10th meeting of the 6th Board of Directors on September 24, 2025, and reviewed and approved the "Proposal on the Extension of the Fund-raising Project" and agreed to extend the date for the fund-raising project "Taizhou Women and Children's Hospital Co., Ltd. Hospital Phase II Construction Project" to reach the scheduled usable state to September 30, 2026. According to relevant regulations such as the "Supervision Rules for Fund Raising by Listed Companies" and "Shanghai Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 1 - Standardized Operations", the extension of this fundraising project does not need to be submitted to the company's shareholders' meeting for approval.
(2) Opinions of the sponsor
After verification, the sponsor institution believes that the extension of the company's fundraising project has been reviewed and approved by the company's board of directors and the audit committee, and the necessary procedures have been fulfilled, and it complies with the requirements of the "Supervision Rules for Fund Raising by Listed Companies", "Shanghai Stock Exchange Self-Regulatory Supervision Guidelines for Listed Companies No. 1 - Standardized Operations", "Shanghai Stock Exchange Self-Regulatory Supervision Guidelines for Listed Companies No. 11 - Continuous Supervision" and other relevant laws, regulations and business rules. Since the funds raised by the company have been used for specified purposes, the remaining uninvested portion of the project will be invested by the company with its own funds. In summary, the sponsor has no objection to the postponement of the company’s fundraising project.
Announcement is hereby made.
Board of Directors of Zhejiang Shapuaisi Pharmaceutical Co., Ltd.
September 25, 2025