Wantai Biotechnology’s announcement on using part of idle raised funds for cash management
Securities code: 603392 Securities abbreviation: Wantai Biotechnology Announcement number: 2026-003
Beijing Wantai Biopharmaceutical Co., Ltd.
Announcement on using part of idle raised funds for cash management
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:
Investment types: Capital-guaranteed products with high security and good liquidity.
Investment amount: The maximum amount planned to be used shall not exceed RMB 1.2 billion (inclusive)
Review procedures performed: The company held the 14th meeting of the sixth board of directors on January 13, 2026, and reviewed and approved the "Proposal on Using Part of Idle Raised Funds for Cash Management". This proposal does not need to be submitted to the shareholders' meeting for review.
Special risk warning: The company's purchase of capital-guaranteed financial products or deposit products (including but not limited to structured deposits, certificates of deposit, notice deposits, etc.) is a low-risk investment type, and the overall risk is controllable; however, because the financial market is affected by macroeconomic and other factors, it cannot be ruled out that the investment will be affected by market fluctuations, and there will be certain systemic risks.
Beijing Wantai Biopharmaceutical Co., Ltd. (hereinafter referred to as the "Company") held the 14th meeting of the sixth board of directors on January 13, 2026, and reviewed and approved the "Proposal on Using Part of Idle Raised Funds for Cash Management", agreeing that the company will use the funds raised from temporarily idle non-public issuance of stocks with a maximum amount of no more than RMB 1.2 billion (inclusive) to invest in capital-preserved products with high security and good liquidity in a timely manner, and the maximum term of a single product shall not exceed 12 months. This quota is valid for 12 months from the date of approval by the company's board of directors, and can be used by the company and its wholly-owned subsidiaries on a rolling basis. The specific situation is as follows:
1. Overview of investment situation
(1) Investment purpose
In view of the fact that the company's fundraising projects have a certain implementation cycle, in order to improve the use efficiency and financial benefits of raised funds, the company, without affecting the construction of investment projects with raised funds and the use of raised funds, uses part of the idle raised funds to invest in capital-guaranteed financial products in accordance with the "Regulations on the Supervision of Funds Raised by Listed Companies", "Shanghai Stock Exchange Self-Discipline Supervision Guidelines for Listed Companies No. 1 - Standardized Operations" and the company's "Raised Funds Management System", which will help improve the efficiency of the use of raised funds, increase the company's income and ensure the maximum interests of shareholders.
(2) Investment amount
Cash management amount: The maximum amount planned to be used does not exceed RMB 1.2 billion (inclusive), which can be used by the company and its wholly-owned subsidiaries on a rolling basis.
(3) Source of funds
Source of funds: temporarily idle raised funds.
Basic information on raising 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's non-public issuance of 25,862,705 new shares at an issue price of 135.33 yuan/share raised a total of RMB 3,499,999,867.65 yuan, deducting the issuance-related expenses of RMB 39,844,153.48 yuan. The actual net amount of funds raised was RMB 3,460,155,714.17 yuan. The above-mentioned funds raised were in place 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.
As of December 31, 2025, the company has used 2,255,971,700 yuan of raised funds, and the balance of the raised funds account is 1,379,825,900 yuan. The difference between the balance and the net amount of raised funds minus the used raised funds is interest, etc.
- Investment projects with raised funds
According to the plan for this non-public issuance reviewed and approved by the company's third extraordinary general meeting of shareholders in 2021, the "Proposal on Adjusting the Actual Amount of Funds Raised in Non-Public Issuance of Stock Investment Projects" reviewed and approved by the 14th meeting of the company's fifth session of the Board of Directors, and the "Proposal on Terminating Investment Projects with Raised Funds and Permanently Replenishing Working Capital or Repaying Borrows with Remaining Funds Raised" considered and approved by the company's third extraordinary general meeting of shareholders in 2023, the company's arrangements for the use of funds raised by the company's non-public issuance of shares in 2021 are as follows:
Unit: Ten thousand yuan as of 2025
Planned investment after adjustment
Reached the scheduled amount of funds to be raised on December 31, 2019
Project investment Amount of funds raised
Serial number Project name Commitment investment Daily cumulative investment
Total amount when using status (deducting issuance fee
Amount into progress
room use)
(%)
Nine-valent cervical cancer
1 Phase II vaccine expansion 124,918.85 110,000.00 106,015.57 62.74 2026 production construction project
twenty-valent pneumonia
coccal polysaccharide knot
2 157,762.66 70,000.00 70,000.00 39.50 2027 Synthetic Vaccine Industry
chemical projects
Health Hall Xiamen
3 Wantai Diagnostic Base 131,620.55 110,000.00 110,000.00 64.94 2025 land construction project
Nasal spray vaccine production
4 Industrial base construction 99,082.23 60,000.00 6,191.39 Not applicable Not applicable project
permanent replenishment stream
5 Working capital or repayment 53,808.61 100.00 Not applicable
Pay back the loan
Total 513,384.29 350,000.00 346,015.57
Note 1: The above data on cumulative investment and raised funds have not been audited.
Note 2: In view of the fact that the company’s fundraising projects have a certain implementation cycle, part of the raised funds are temporarily idle according to the use plan of the company and its wholly-owned subsidiaries.
(4) Investment methods
The company will strictly control risks in accordance with relevant regulations and use idle raised funds to purchase cash management products sold by financial institutions with high security, good liquidity, a single product term of no more than 12 months, and legal operating qualifications, including but not limited to structured deposits, negotiable certificates of deposit and other capital-guaranteed products.
(5) Investment period
It is valid for 12 months from the date of review and approval by the company's board of directors, and the maximum term for a single product shall not exceed 12 months.
(6) Cash management of the company’s raised funds in the past 12 months to date
Actual investment has not been recovered yet
Actual recovery of capital Actual income
Serial number Cash management type Principal amount (10,000 yuan) (10,000 yuan)
Amount (10,000 yuan)
(RMB 10,000) 1 Structured deposits 251,000.00 145,000.00 3,685.85 106,000.00 2 Notice deposits 6,915.05 1,490.30 3.56 5,424.75
Total 3,689.41 111,424.75 Maximum investment amount in a single day in the last 12 months 145,000.00 Maximum investment amount in a single day in the last 12 months/Net assets in the last year (%) 11.82 Cumulative income from entrusted financial management in the last 12 months/Net profit in the last year (%) 34.73 Total investment amount of raised funds (10,000 yuan) 150,000.00 Currently used investment quota (10,000 yuan) 111,424.75 Unused investment quota (10,000 yuan) 38,575.25
Note: The net assets of the most recent year and the net profit of the most recent year in the above table are the company's net assets attributable to shareholders of listed companies and net profits attributable to shareholders of listed companies as of December 31, 2024.
(7) Implementation method
The general manager of the company is authorized to sign relevant documents within the above-mentioned quota range. Specific matters are organized and implemented by the Finance Department, including but not limited to: selecting qualified professional financial institutions, clarifying the amount and period of cash management, selecting types of cash management products, signing contracts and agreements, etc.
(8) Information disclosure
The company will promptly disclose the specific situation of the company's use of idle raised funds for cash management in accordance with the requirements of relevant laws and regulations such as the "Supervision Rules for Funds Raised by Listed Companies", the "Shanghai Stock Exchange Stock Listing Rules" and other relevant laws and regulations.
(9) Whether there is a disguised change in the use of raised funds and measures to ensure that the normal progress of the raised funds project will not be affected
The company's use of part of the idle raised funds for cash management this time is carried out on the premise of ensuring the funds required for the company's raised investment projects and ensuring the safety of the raised funds. There is no disguised change in the use of raised funds, and it will not affect the normal operation of the company's raised funds investment projects. The company will promptly return part of the idle raised funds to the special account for raised funds after the expiration of the cash management period. If the actual investment progress of the investment project with raised funds exceeds expectations due to construction needs, the company will return the raised funds in advance if feasible to ensure the normal progress of the investment project with raised funds.
2. Review procedure
The company held the 14th meeting of the sixth board of directors on January 13, 2026, and reviewed and approved the "Proposal on Using Part of Idle Raised Funds for Cash Management". This proposal does not need to be submitted to the shareholders' meeting for review. The sponsoring institution, Guojin Securities Co., Ltd., has issued an unobjectionable verification opinion.
3. Investment risk analysis and risk control measures
(1) Investment risks
The company's purchase of principal-guaranteed financial products or deposit products (including but not limited to structured deposits, certificates of deposit, notice deposits, etc.) is a low-risk investment type, and the overall risk is controllable; however, because the financial market is affected by macroeconomic and other factors, it cannot be ruled out that this investment will be affected by market fluctuations, and there will be certain systemic risks.
(2) Risk control measures
Relevant personnel of the company's finance department will promptly analyze and track financial product investment and project progress. If any risk factors that may affect the company's capital security are discovered, corresponding measures will be taken in a timely manner to control risks. The company has established and improved the approval and execution procedures for product purchases in accordance with the principle of separation of decision-making, execution and supervision functions to ensure the effective and standardized operation of product purchase matters and ensure the safety of financial management funds.
The company's finance department establishes a ledger to manage the purchased financial products, establishes and improves accounting accounts, and performs accounting according to accounting standards. The above-mentioned bank wealth management products are not allowed to be pledged, and the product-specific settlement accounts are not allowed to store non-raised funds or be used for other purposes. The use of raised funds shall not be changed in any disguised manner, and the normal progress of the raised investment projects shall not be affected.
The independent directors and internal audit department have the right to supervise and inspect the use of funds, and hire professional institutions to conduct audits when necessary. The entire process is supervised by the sponsor agency.
The company will strictly comply with relevant regulations and perform its information disclosure obligations in a timely manner.
4. Impact of investment on the company
The company uses part of the idle raised funds to purchase capital-guaranteed financial products on the premise of ensuring the progress of the company's investment projects with raised funds and ensuring the safety of funds. Using part of the idle raised funds for financial management will not affect the development of investment projects with the company's raised funds. It will not have a major impact on the company's future business development, financial status, operating results and cash flow. Through appropriate cash management, the efficiency of fund use can be improved, certain investment benefits can be obtained, and more investment returns can be obtained for the company's shareholders.
According to the "Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments", the company's purchase of financial products is included in "debt investment", "monetary funds" or "trading financial assets", and the final accounting treatment is subject to the results of the annual audit and confirmation by accountants.
5. Opinions of intermediaries
After verification, the sponsor believes that the company's use of part of the idle raised funds for cash management has been reviewed and approved by the company's board of directors and the necessary review procedures have been fulfilled. The proposal does not need to be submitted to the shareholders' meeting for review.
The company's use of part of the idle raised funds for cash management complies with the relevant provisions of relevant laws, regulations and normative documents 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".
In summary, the sponsor has no objection to the company's use of part of the idle raised funds for cash management. Announcement is hereby made.
Board of Directors of Beijing Wantai Biopharmaceutical Co., Ltd.
January 14, 2026