Wantai Biotechnology’s announcement on the postponement of some investment projects with raised funds
Securities code: 603392 Securities abbreviation: Wantai Biotechnology Announcement number: 2025-062
Beijing Wantai Biopharmaceutical Co., Ltd.
Announcement on the postponement of some investment projects with raised funds
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.
Beijing Wantai Biopharmaceutical Co., Ltd. (hereinafter referred to as the "Company") held the 13th meeting of the sixth board of directors on December 12, 2025, and reviewed and approved the "Proposal on the Extension of Partially Raised Funds for Investment Projects", agreeing that the company will extend the "Nine-Valent Cervical Cancer Vaccine Phase II Production Expansion Construction Project" as long as the implementation entity, implementation location and investment scale do not change, and the scheduled usable status date will be extended to December 2026. The proposal does not involve changes in the use of raised funds and does not need to be submitted to the shareholders' meeting for review. The relevant situation is now announced as follows:
1. Basic situation of raised funds
Approved by the China Securities Regulatory Commission's "Reply on Approving the Non-public Issuance of Stocks by Beijing Wantai Biopharmaceutical Co., Ltd." (CSRC License [2022] No. 1098), the company non-publicly issued 25,862,705 new shares at an issue price of 135.33 yuan/share. The total funds raised were The amount is RMB 3,499,999,867.65. After deducting the issuance-related expenses of RMB 39,844,153.48, the actual net amount of funds raised is RMB 3,460,155,714.17. The above-mentioned raised funds have been received on June 30, 2022. Rongcheng Accounting Firm (Special General Partnership) has verified the availability of funds raised from this non-public issuance of A shares and issued a "Capital Verification Report" (Rongcheng Yanzi [2022] No. 518Z0069). The company has deposited the raised funds in a special account and signed a three-party and four-party supervision agreement with the sponsor institution and the commercial bank where the raised funds are deposited.
2. Actual investment and storage of raised funds in investment projects
As of November 30, 2025, the company’s investment plan of raised funds investment projects and the amount of raised funds invested are as follows:
Unit: 10,000 yuan
Planned capital raising after adjustment As of November 2025 As of November 2025
The original plan was to invest
Serial number Project name Amount of funds raised (deducting the cumulative investment on the 30th of the month The cumulative amount of raised funds invested on the 30th of the month
Issuance fee) Amount Progress (%)
Phase II expansion of nine-valent cervical cancer vaccine
1 110,000.00 106,015.57 65,593.92 61.87 industrial construction project
Twenty-valent pneumococcal polysaccharide
2 70,000.00 70,000.00 26,827.22 38.32 Combined vaccine industrialization project
Yangshengtang Xiamen Wantai Diagnostic Center
3 110,000.00 110,000.00 71,186.14 64.71 land construction project
Construction of nasal spray vaccine industry base
4 60,000.00 6,191.39 6,191.39 Not applicable items
Permanently replenish working capital or reimburse
5 0 53,808.61 53,808.61 100 Loan repayment
Total 350,000.00 346,015.57 223,607.28 /
Note: The above data on cumulative investment and raised funds have not been audited.
As of November 30, 2025, the company’s related deposits of raised funds are as follows:
Unit: 10,000 yuan
Bank name Bank account number Balance
Industrial and Commercial Bank of China Co., Ltd. Xiamen Haicang Branch 4100026029200277511 9,514.35 Industrial and Commercial Bank of China Co., Ltd. Xiamen Haicang Branch 4100026029200277484 6,993.78 Industrial and Commercial Bank of China Co., Ltd. Xiamen Haicang Branch 4100026029200277360 5,323.69 Industrial and Commercial Bank of China Co., Ltd. Xiamen Haicang Branch 4100026029200277236 4,002.79 Industrial and Commercial Bank of China Co., Ltd. Xiamen Haicang Branch 4100026029200277112 6,062.33 Bank of Ningbo Co., Ltd. Beijing Branch 77010122001546562 - Shanghai Pudong Development Bank Co., Ltd. Beijing Changping Branch 91490078801200002086 5,428.37 Bank of Hangzhou Co., Ltd. Xicheng Branch 3301041060001604481 8,006.20 China Minsheng Banking Co., Ltd. Beijing Changping Branch 642816015 94,595.12
Total / 139,926.63 Note: The investment project with raised funds to be postponed this time is the "Nine-Valent Cervical Cancer Vaccine Phase II Expansion Construction Project". The raised funds used for the project are deposited in special accounts for raised funds of 4100026029200277360, 4100026029200277112, and 642816015.
3. The specific circumstances and reasons for the postponement of the investment project with raised funds
- Delay of this fundraising project
The nine-valent cervical cancer vaccine phase II expansion construction project was formulated by the company in 2021 based on factors such as the market environment, industry development trends and the company's actual situation at the time. As long as the project implementation entity, implementation location and investment scale do not change, and comprehensively considering the current implementation progress of the project, the company plans to postpone the date when the nine-valent cervical cancer vaccine phase II expansion construction project reaches the scheduled usable state. The specific situation is as follows:
The date when the project reaches its intended usable status
Project name
Before adjustment After adjustment
Phase II expansion of nine-valent cervical cancer vaccine
December 2025 December 2026
Industrial construction projects
- Reasons for the delay of this fundraising project
Since the raised funds were received, the company's board of directors and management have actively promoted project construction in accordance with the original plan. As of the date of this announcement, the second phase of the nine-valent cervical cancer vaccine expansion construction project has completed major construction work such as purification workshop decoration, equipment installation and commissioning, and has successfully launched batch trial production of the project. In the future, the company will carry out process verification, comparability research and stability research in an orderly manner in accordance with the relevant requirements of the drug regulatory authorities on the site transfer of the new production line, and submit registration application materials for the new production line. Only after review and approval by regulatory authorities can the project be put into commercial production.
As of November 30, 2025, the investment progress of the project's raised funds is less than the actual construction progress of the project. This is mainly due to (1) the company's settlement with suppliers according to the contract, part of the project and equipment payments have not reached the payment time stipulated in the contract, and there are remaining balances and warranty deposits that have yet to be paid; (2) the initial working capital will continue to be invested during the construction and operation of the project.
In order to ensure the quality of project construction and project efficiency, use funds safely and rationally, and make the implementation of investment projects with raised funds more in line with the requirements of the company's long-term development strategy, after careful research by the company and in line with the principle of being responsible to shareholders and prudent investment, the company decided to postpone the date when the "Nine-Valent Cervical Cancer Vaccine Phase II Expansion Construction Project" reaches the scheduled usable state to December 2026.
4. The impact of the postponement of the investment project with raised funds on the company
The postponement of the "Nine-valent Cervical Cancer Vaccine Phase II Expansion Construction Project" is a prudent decision made by the company based on the actual progress of the project construction, based on ensuring the quality of the project construction and improving the efficiency of the use of raised funds. This matter only involves changes in the project construction progress. The project's implementation entity, implementation location, and investment scale have not changed. It will not have an adverse impact on the company's normal production and operation, and there is no change or disguised change in the use of raised funds. The postponement of this fundraising project will help the company better ensure the smooth and high-quality completion of the project, and will not have an impact on the company's overall future business planning and long-term healthy development.
On the premise of coordinating the construction of the raised investment projects and ensuring the investment benefits of the raised funds, the company will pay real-time attention to the progress of the delayed raised investment projects, actively coordinate the allocation of human, material and other resources, and orderly promote the follow-up implementation of the delayed raised investment projects; the company will also continue to prudently control capital expenditures, strengthen cost control in each link, and promote the implementation of the raised investment projects based on the company's strategic planning and market demand and other factors.
5. Review procedures for implementation
The company held the 13th meeting of the sixth board of directors on December 12, 2025, and reviewed and approved the "Proposal on the Extension of Investment Projects with Partial Raised Funds". This proposal does not need to be submitted to the company's shareholders' meeting for review.
The sponsoring institution, China International Finance Securities Co., Ltd., has issued verification opinions.
6. Opinions of the sponsor
After verification, the sponsor believes that the extension of the company's "Nine-Valent Cervical Cancer Vaccine Phase II Production Expansion Project" has been reviewed and approved by the company's board of directors and the necessary approval procedures have been fulfilled. The relevant review procedures for the above matters are in compliance with relevant regulations such as the "Shanghai Stock Exchange Stock Listing Rules", "Supervisory Rules for Listed Companies' Raised Funds", "Shanghai Stock Exchange Self-Discipline Supervision Guidelines for Listed Companies No. 1 - Standardized Operations" and the relevant requirements of the company's raised funds management system.
In summary, the sponsor agency has no objection to the extension of the company’s “Nine-Valent Cervical Cancer Vaccine Phase II Production Expansion Construction Project”.
Announcement is hereby made.
Board of Directors of Beijing Wantai Biopharmaceutical Co., Ltd.
December 13, 2025