Huatai United Securities Co., Ltd.’s verification opinions on Jiangsu Aidi Pharmaceutical Group Co., Ltd.’s use of part of idle raised funds to temporarily supplement working capital
Huatai United Securities Co., Ltd.
About Jiangsu Aidi Pharmaceutical Group Co., Ltd.
Verification opinions on using part of idle raised funds to temporarily supplement working capital
Huatai United Securities Co., Ltd. (hereinafter referred to as "Huatai United Securities" or the "Sponsor"), as the sponsor of Jiangsu Aidi Pharmaceutical Group Co., Ltd. (hereinafter referred to as "Aidi Pharmaceutical" or the "Company")'s initial public offering of stocks and listing on the Science and Technology Innovation Board, in accordance with the "Measures for the Administration of Sponsorship Business for Securities Issuance and Listing" The "Shanghai Stock Exchange Science and Technology Innovation Board Stock Listing Rules", "The Measures for the Continuous Supervision of Companies Listed on the Science and Technology Innovation Board (Trial)" and other relevant regulations have performed continuous supervision responsibilities and conducted a prudent review of Aidi Pharmaceutical's use of part of the idle raised funds to temporarily supplement working capital. The specific verification situation and opinions are as follows:
1. Basic situation of raised funds
With the "Reply on Approving the Registration of the Initial Public Offering of Stocks of Jiangsu Aidi Pharmaceutical Co., Ltd." (CSRC Permit [2020] No. 1185) issued by the China Securities Regulatory Commission, the company publicly issued 60 million RMB ordinary shares to the public at an issue price of RMB 13.99 per share, raising total funds of RMB 839,400,000.00. After deducting the underwriting fees and sponsorship fees, the total tax-included amount was 61,758,000.00 yuan, and the actual funds raised were 777,642,000.00 yuan. The cumulative issuance expenses of this stock issuance include tax of RMB 79,833,781.03, including the deductible value-added tax input tax of RMB 4,506,826.42. After deducting the tax-exclusive issuance expenses, the net amount of funds raised is RMB 764,073,045.39.
The above-mentioned raised funds were all received on July 13, 2020. Rongcheng Accounting Firm (Special General Partnership) verified the arrival of the funds raised in this issuance and issued Rongcheng Yanzi [2020] No. 210Z0012 "Capital Verification Report". The Company adopts a special account storage system for raised funds.
2. Basic situation of investment projects with raised funds
The company's investment projects including raw material drug production, R&D and supporting facilities, Ibond® (Enovirin tablets) phase III clinical and post-marketing research project, and ACC008 phase III/IV clinical project have been completed. The basic information of the remaining investment projects is as follows:
Raised funds committed to investment
Serial number Project name Project content
Total amount (10,000 yuan)
Innovative drug research and development, integrase inhibitor drug development and clinical trials
15,446.99 1 Technology Center Building Purchase Research Project
Project
HIV high-end generic drug research and development project 3,700.00 2 Repay bank loans and supplement working capital 15,000.00
For details on the use of funds raised as of September 30, 2025, please refer to the "Special Report on the Use of Funds Raised in the Previous Time of Jiangsu Aidi Pharmaceutical Group Co., Ltd." disclosed by the company on the website of the Shanghai Stock Exchange (www.sse.com.cn) on January 14, 2026 (Announcement No.: 2026-004).
3. The previous use of part of the idle raised funds to temporarily replenish working capital and return it
The company held the second meeting of the third board of directors on February 27, 2025, and reviewed and approved the "Proposal on Using Part of Idle Raised Funds to Temporarily Supplement Working Capital", agreeing that the company and its subsidiaries will use part of the idle raised funds to temporarily supplement working capital of no more than RMB 150 million, and the use period shall not exceed 12 months from the date of approval by the Board of Directors. As of the date of this announcement, the company has returned all the above-mentioned raised funds temporarily used to supplement working capital to the special account for raised funds. For details, please refer to the "Announcement of Jiangsu Aidi Pharmaceutical Group Co., Ltd. on the early return of idle raised funds temporarily used to supplement working capital" disclosed by the company on the website of the Shanghai Stock Exchange (www.sse.com.cn) on February 7, 2026 (Announcement No.: 2026-015).
4. This time’s plan to use part of the idle raised funds to temporarily supplement working capital
Under the premise of ensuring that the construction progress of the investment projects with raised funds will not be affected, in order to improve the efficiency of the use of raised funds and reduce the company's financial costs, the company and its subsidiaries plan to use part of the idle raised funds not to exceed RMB 100 million to temporarily supplement working capital, which will only be used for production and operations related to the main business. The use period will not exceed 12 months from the date of approval by the board of directors, and the company will promptly return the raised funds to the special account according to the progress and demand of the raised investment projects.
The use of part of the idle raised funds to temporarily replenish working capital will only be used for the company's business development, daily operations and other production and operations related to the main business. It will not be used for the allotment and subscription of new shares through direct or indirect arrangements, or for transactions in stocks and their derivatives, convertible corporate bonds, etc. It will not change the purpose of the raised funds in a disguised way, and will not affect the normal progress of the investment plan of the raised funds. There will be no disguised change in the investment direction of the raised funds and damage to the interests of shareholders.
5. Review procedure
On February 12, 2026, the company held the twelfth meeting of the third session of the Board of Directors, and reviewed and approved the "Proposal on Using Part of Idle Raised Funds to Temporarily Supplement Working Capital", and agreed that in order to improve the efficiency of the use of raised funds and reduce the company's financial costs without affecting the construction progress of investment projects with raised funds, the company and its subsidiaries plan to use part of the idle raised funds not to exceed 100 million yuan to temporarily supplement working capital, which will only be used for production and operations related to the main business, and the use period will not exceed 12 from the date of approval by the board of directors. months. The sponsor issued a clear verification opinion on this matter. This matter is within the scope of the board of directors' approval authority and does not need to be submitted to the shareholders' meeting for review.
6. Special opinions
The Audit Committee believes that the company's use of part of the idle raised funds to temporarily replenish working capital can meet the company's demand for working capital for production and operation, is conducive to improving the efficiency of the use of raised funds, reducing the company's financial expenses, and is in the interests of the company and all shareholders. No. - Standardized Operations" and other relevant laws and regulations as well as the company's "Measures for the Management of Raised Funds" will not affect the normal progress of investment projects with raised funds, and there will be no disguised changes in the investment direction of raised funds or damage to the interests of shareholders. It is agreed that the company will use idle raised funds not exceeding RMB 100 million to temporarily supplement working capital.
7. Opinions of the sponsor
After verification, the sponsor agency believes that: the company's use of part of the idle raised funds to temporarily supplement working capital has been reviewed and approved by the board of directors and the audit committee, and the necessary approval procedures have been fulfilled. The audit committee has issued a special opinion; this use of part of the idle raised funds to supplement working capital can meet the company's demand for working capital for production and operation, and is conducive to improving the efficiency of the use of raised funds, in compliance with the "Shanghai Stock Exchange Science and Technology Innovation Board Stock Listing Rules" and "Shanghai Stock Exchange Science and Technology Innovation Board Listed Companies Self-Regulatory Supervision Guidelines No. 1" No. - Standardized Operations" and other relevant laws and regulations as well as the company's "Measures for the Management of Raised Funds" will not affect the normal progress of investment projects with raised funds, and there will be no disguised changes in the investment direction of raised funds or damage to the interests of shareholders. The sponsor has no objection to the company's use of part of the idle raised funds to temporarily replenish working capital.
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