CSI Pengyuan’s announcement regarding changes in the general manager and legal representative of Shenzhen Microchip Biotechnology Co., Ltd.
China Securities Pengyuan Credit Rating Co., Ltd.
CSI Pengyuan Announcement [2025] No. 612
CSI Pengyuan Credit Rating Co., Ltd. (hereinafter referred to as "CSI Pengyuan") rated Shenzhen Microchip Biotechnology Co., Ltd. (hereinafter referred to as "Microchip" or the "Company", stock code: 688321.SH) and the following bonds issued by it. Except for the rating entrustment relationship, CSI Pengyuan and its rating practitioners do not have any related relationship with the company that can affect the independence, objectivity and impartiality of the rating behavior.
Last rating result
Bond abbreviation Last rating time
Subject Grade Debt Grade Rating Outlook Microchip Convertible Bonds 2025-6-25 A+ A+ Stable
According to the "Announcement of Shenzhen Microchip Biotechnology Co., Ltd. on the Appointment of General Manager and Change of Legal Representative" issued by the company on December 24, 2025, the general manager of the company was changed from Dr. XIANPING LU to Mr. Li Jianxun, and the legal representative was changed from Dr. XIANPING LU of the company to Ms. Haiou. Dr. XIANPING LU still serves as the chairman of the company and is the actual controller of the company.
According to the announcement, Mr. Li Jianxun has held important positions such as the company's financial manager, deputy general manager, financial director, and joint general manager, and has many years of experience in business operations and financial management. Ms. Haiou is the director/deputy general manager who executes the company's affairs. The change of legal representative is mainly based on the provisions of the "Articles of Association" and consideration of the company's business development needs, market supervision and management department change registration and other convenience reasons.
CSI Pengyuan believes that this change of general manager and legal representative will not have a significant adverse impact on the company's production and operation, financial status and debt solvency for the time being. Taking comprehensive consideration of the company's current situation, CSI Pengyuan decided to maintain the company's main credit rating at A+, the rating outlook remains stable, and the credit rating of "Microchip Convertible Bonds" is maintained at A+. The rating result is valid from December 30, 2025 to the duration of the "Microchip Convertible Bonds". At the same time, CSI Pengyuan will continue to track the possible impact of the above matters on the company's main credit rating, rating outlook and the credit rating of "Microchip Convertible Bonds".
Announcement is hereby made.
China Securities Pengyuan Credit Rating Co., Ltd.
Attachment of December 30, 2025: This rating model scoring table and results
Scoring elements Indicators Scoring grade Scoring elements Indicators Scoring grade Macro environment 4/5 Preliminary financial status 2/9 Industry & operating risk status 5/7 Leverage status 3/9 Business status Financial status
Industry Risk Profile 5/5 Profitability Profile Very Weak
Operating status 4/7 Liquidity status 7/7 Business status assessment results 5/7 Financial status assessment results 5/9
ESG factors 0Adjustment factors Material special matters 0
Supplementary adjustment 0 individual credit status a+ external special support 0 entity credit rating A+ Note: (1) The rating method model used in this rating is: pharmaceutical manufacturing enterprise credit rating method and model (version number: cspy_ffmx_2025V1.0), external special support evaluation method and model (version number: cspy_ffmx_2025V1.0); (2) The higher the score of each indicator, the better the performance.