Announcement from Fudan Zhangjiang on the special report on the storage, management and actual use of raised funds in 2025
Securities code: 688505 Securities abbreviation: Fudan Zhangjiang Announcement number: Lin 2026-010
About Shanghai Fudan Zhangjiang Biopharmaceutical Co., Ltd.
Announcement of the special report on the storage, management and actual use of raised funds in 2025
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.
Shanghai Fudan Zhangjiang Biopharmaceutical Co., Ltd. (hereinafter referred to as the "Company" or "Fudan Zhangjiang"), in accordance with the China Securities Regulatory Commission's "Supervision Rules for Funds Raised by Listed Companies", "Shanghai Stock Exchange Science and Technology Innovation Board Stock Listing Rules" and "Shanghai Stock Exchange Science and Technology Innovation Board Listed Companies Self-Regulatory Guidelines No. 1 - Standardized Operation" and other relevant regulations and requirements, hereby reports on the storage, management and actual use of funds raised in 2025 (hereinafter referred to as the "reporting period") as follows:
1. Basic situation of raised funds
(1) The actual amount of funds raised and its arrival status
According to the "Reply on Approving the Registration for the Initial Public Offering of Stocks of Shanghai Fudan Zhangjiang Biopharmaceutical Co., Ltd." (CSRC License [2020] No. 912) issued by the China Securities Regulatory Commission on May 14, 2020, the company's registration application for the initial public offering of stocks was approved. The company publicly issued 120 million RMB ordinary shares at an issue price of RMB 8.95 per share, raising total funds of RMB 1,074,000,000. After deducting issuance expenses of RMB 99,676,100, the net raised funds were RMB 974,323,900. All the above-mentioned raised funds were received on June 12, 2020, and PricewaterhouseCoopers Zhongtian Accounting Firm (Special General Partnership) verified the aforementioned matters and issued PricewaterhouseCoopers Zhongtian Yanzi (2020) No. 0502 Capital Verification Report.
(2) The amount of funds raised during the reporting period and the balance at the end of the period
During the reporting period, the company used raised funds of RMB 16.2942 million; as of December 31, 2025, the company's raised funds investment projects (hereinafter referred to as "raised investment projects") have used a total of RMB 502.6507 million of raised funds, the excess raised funds permanently supplemented working capital of RMB 346.4526 million, and the remaining raised funds permanently supplemented working capital of RMB 160.70 million, and the balance of the raised funds account is RMB 179.9272 million. The basic situation of funds raised is as follows:
Basic information on raised funds
Unit: 10,000 yuan Currency: RMB
Offering Name 2020 Initial Public Offering of Shares
The time when the raised funds will be received is June 12, 2020
This reporting period is from January 1, 2025 to December 31, 2025
Item Amount
Total raised funds 107,400.00, including: excess raised funds 32,432.39 minus: direct payment of issuance expenses 9,967.61
Net raised funds 97,432.39 minus:
Amount used in previous years 48,635.65 Amount used this year 1,629.42 Cumulative amount of supplementary working capital Note 34,805.96 Cash management amount - bank fees and exchange gains and losses 4.63 plus:
Interest income from raised funds 5,635.99
- Balance of raised funds at the end of the reporting period 17,992.72 Note: The above-mentioned “accumulated amount of additional working capital” is the company’s over-raised funds permanently replenishing working capital of RMB 346.4526 million (including interest income of RMB 22.1287 million) and surplus raised funds permanently replenishing working capital of RMB 1.6070 million.
2. Management of raised funds
(1) Storage of raised funds in special accounts of various banks
In order to standardize the use and management of the company's raised funds, protect the rights and interests of investors, and improve the efficiency of the use of raised funds
rate, the company complies with the "Regulations on the Supervision of Funds Raised by Listed Companies" and the "Shanghai Stock Exchange's Science and Technology Innovation Board Listing of Stocks"
Rules" and "Shanghai Stock Exchange's Self-Regulatory Guidelines for Companies Listed on the Science and Technology Innovation Board No. 1 - Standardized Operations" are based on
and the provisions of relevant documents of the China Securities Regulatory Commission, combined with the actual situation of the company, the "Raising
Fund Usage Management Measures. In accordance with the provisions of the "Administrative Measures for the Use of Raised Funds", the company
Adopt a special account storage system and perform use approval procedures to monitor the management and use of raised funds.
Supervise and ensure that the earmarked funds are used exclusively.
As of December 31, 2025, the specific deposit status of the company's raised funds is as follows:
Raised funds storage status table
Unit: 10,000 yuan Currency: RMB Issuance name Date of receipt of funds raised from initial public offering of stocks in 2020 June 12, 2020
Account name Bank where the account is opened Bank account number Ending balance of the reporting period Account status
Bank of China Shanghai Zhangjiang High
455979787895 17,992.72 In use
Science and Technology Park Branch
Shanghai Fudan Zhangjiang
China Merchants Bank Co., Ltd.
Biomedical shares 121907535710633 - Canceled
Shanghai Tianshan Branch
Ltd.
Ping An Bank Co., Ltd.
15062020060260 - Canceled Shanghai Branch
(2) Signing status of the "Tripartite Supervision Agreement on Separate Account Storage of Raised Funds"
The Company and Haitong Securities Co., Ltd. (now renamed Cathay Haitong Securities Co., Ltd., hereinafter referred to as the "Sponsor") signed the "Tripartite Supervision Agreement for the Special Account Deposit of Raised Funds" (hereinafter referred to as the "Tripartite Supervision Agreement") with Bank of China Co., Ltd. Shanghai Pudong Development Zone Branch on June 8, 2020, and with Ping An Bank Co., Ltd. Shanghai Branch and China Merchants Bank Co., Ltd. Shanghai Tianshan Branch respectively. There are no major differences between the "Tripartite Supervision Agreement" and the Shanghai Stock Exchange Tripartite Supervision Agreement Model.
Because the funds raised by the company's investment project "Biomedicine Innovation R&D Sustainable Development Project" have been used in accordance with regulations, in order to facilitate the company's capital account management, the company canceled its special fund-raising account (bank account number: 121907535710633) opened at Shanghai Tianshan Branch of China Merchants Bank Co., Ltd. in August 2023. The "Tripartite Supervision Agreement" signed by the company, the sponsor institution and the Shanghai Tianshan Branch of China Merchants Bank Co., Ltd. where the raised funds were deposited was subsequently terminated. For details, please refer to the "Announcement on Cancellation of Partial Raised Funds Special Accounts" disclosed by the company on the Shanghai Stock Exchange website (www.sse.com.cn) and designated media on August 26, 2023 (announcement number: Lin 2023-044).
The company's investment project "Acquisition of Minority Equity in Taizhou, Fudan and Zhangjiang" has been completed, and the remaining raised funds, remaining super-raised funds and interest income stored in the special account have been transferred to its own capital account to permanently replenish working capital and be used for operating activities related to the company's main business. In order to facilitate the company's capital account management, the company canceled its special account for raised funds (bank account number: 15062020060260) opened at the Shanghai Branch of Ping An Bank Co., Ltd. in July 2024, and the "Tripartite Supervision Agreement" signed by the company and the sponsor institution and the Shanghai Branch of Ping An Bank Co., Ltd. where the raised funds were deposited was terminated. For details, please refer to the "Announcement on Cancellation of Partial Raised Funds Special Accounts" disclosed by the company on the Shanghai Stock Exchange website (www.sse.com.cn) and designated media on July 3, 2024 (announcement number: Lin 2024-022).
As of December 31, 2025, the "Tripartite Supervision Agreement" signed on June 8, 2020 by the company, the sponsor institution, and Bank of China Shanghai Zhangjiang Hi-Tech Park Branch had been performed normally.
3. Actual use of funds raised this year
(1) Usage of funds for investment projects with raised funds (hereinafter referred to as “raised investment projects”)
As of December 31, 2025, for details on the use of raised funds for investment projects, please refer to the "Comparison of the Use of Raised Funds" (see Appendix 1).
(2) Advance investment and replacement of fundraising projects
Company on November 26, 2025 The 14th (temporary) meeting of the eighth session of the Board of Directors was held on the same day and reviewed and passed the "Proposal on the Use of Raised Funds for Equal-Amount Replacement". It was agreed that the company would transfer equal amounts of funds raised from investment projects to the company's basic deposit account to pay salaries and other related expenses based on the actual situation and after completing relevant approval procedures. The transfer of equal amounts of funds was deemed to be a replacement with raised funds. At the same time, past equal transfers of investment projects from the date of the implementation of the "Supervisory Rules for Raised Funds for Listed Companies" to the date of announcement were confirmed. The company's sponsor issued a concurring opinion on the matter and issued the "Verification Opinions of Cathay Haitong Securities Co., Ltd. on the equal replacement of raised funds by Shanghai Fudan Zhangjiang Biopharmaceutical Co., Ltd." For details, please refer to the "Announcement on the Use of Raised Funds for Equal Exchange" disclosed by the company on the Shanghai Stock Exchange website (www.sse.com.cn) and designated media on November 27, 2025 (announcement number: Lin 2025-042).
During the reporting period, the company used raised funds to replace the amount previously invested in raised investment projects of RMB 4.3067 million.
(3) Temporarily supplementing working capital with idle raised funds
During the reporting period, the company did not use idle raised funds to temporarily replenish working capital.
(4) Cash management of idle raised funds and investment in related products
In order to improve the efficiency of fund use and make rational use of idle raised funds, the company held the 10th meeting of the 8th board of directors and the 9th meeting of the 8th board of supervisors on April 28, 2025, respectively, and reviewed and approved the "Proposal on the use of temporarily idle raised funds for cash management", agreeing that the company will proceed without affecting the progress of investment projects with raised funds, without affecting the company's normal production and operations, and ensuring the safety of funds. Bank cash management, using temporarily idle raised funds up to a maximum of RMB 180 million (including the principal amount) for cash management, used to purchase investment products with high safety, good liquidity, and capital guarantee agreements (including but not limited to the purchase of capital guaranteed financial products, structured deposits, certificates of deposit, time deposits, notice deposits, etc.). The use period is valid within 12 months from June 20, 2025. Within the aforementioned limit and period, funds can be used on a rolling basis. The company's board of supervisors and the sponsor both expressed agreement on the matter, and the sponsor issued the "Verification Opinions of Cathay Haitong Securities Co., Ltd. on the use of temporarily idle raised funds for cash management by Shanghai Fudan Zhangjiang Biopharmaceutical Co., Ltd." For details, please refer to the "Announcement on the Use of Temporarily Idle Raised Funds for Cash Management" disclosed by the company on the Shanghai Stock Exchange website (www.sse.com.cn) and designated media on April 29, 2025 (announcement number: Lin 2025-014).
As of December 31, 2025, the balance of financial products purchased by the Company using idle raised funds was RMB 0.
Raised funds cash management review status table
Unit: 10,000 yuan Currency: RMB Issuance name 2020 initial public offering of stocks
The time when the raised funds will be received is June 12, 2020
Planned
Plan for cash management Start of plan End of plan Board review of cash management
way date date amount by date
Buy with high security and liquidity
Good sex and guaranteed capital agreement
Investment products (including but not
June 20, 2025 June 19, 2026 April 28, 2025 18,000.00 Limited to purchase of capital-guaranteed financial management
day day day
products, structured deposits,
Certificates of deposit, time deposits,
call deposit, etc.).
Cash management details of raised funds
Unit: Yuan Currency: RMB Issuance Name 2020 Initial Public Offering of Stocks
The time when the raised funds will be received is June 12, 2020
Estimated annual entrustment Trustee bank Product name Not yet returned
Product type Purchase amount Start date End date Return date Return amount Interest amount Square name Repayment amount
Rate Bank of China
RMB
Zhangjiang Hi-Tech
Structural Structural deposit 180,000,000.00 January 8, 2025 June 30, 2025 June 30, 2025 - 2.07% 1,767,045.70 Technology Park Support
Deposit
OK
Bank of China
RMB
Shanghai Fu Zhangjiang Hi-Tech
Structural Structural deposit 180,000,000.00 July 4, 2025 September 30, 2025 September 30, 2025 - 1.60% 694,356.16 days Zhangjiang Technology Park Support
Deposit
biomedical industry
Pharmaceutical Co., Ltd. Bank of China
RMB
Co., Ltd. Zhangjiang Hi-Tech
Structural Structured deposit 40,000,000.00 October 13, 2025 December 15, 2025 December 15, 2025 - 1.70% 117,369.86 Division Technology Park Support
Deposit
OK
Bank of China
RMB
Zhangjiang Hi-Tech
Structural Structural deposit 130,000,000.00 October 14, 2025 December 31, 2025 December 31, 2025 - 1.56% 432,686.30 Technology Park Support
Deposit
OK
Bank of China
RMB Zhangjiang Hi-Tech
Structural Structural deposit 40,000,000.00 December 16, 2025 December 31, 2025 December 31, 2025 - 1.47% 24,152.88 Technology Park Support
deposit bank
(5) Use of excess raised funds to permanently supplement working capital or return bank loans
During the reporting period, the company did not use excess raised funds to permanently replenish working capital or repay bank loans.
(6) The excess raised funds are used for projects under construction and new projects (including acquisition of assets, etc.) or the repurchase and cancellation of the company’s shares
During the reporting period, the company did not use excess raised funds for projects under construction or new projects (including acquisition of assets, etc.) or to repurchase and cancel the company's shares.
(7) Usage of surplus raised funds
During the reporting period, the company had no surplus of raised funds.
(8) Other uses of raised funds
During the reporting period, the company had no other uses of raised funds.
4. Change the use of funds for investment projects
Affected by factors such as changes in the international environment and regulatory policies, as well as the feedback speed and communication efficiency of domestic and foreign intermediaries and overseas medical institutions, the clinical research progress of the company's U.S. registration project for Hemoporfin was less than expected. In order to reduce the investment risk of raised funds, improve the efficiency of the use of raised funds, and accelerate the research and development and industrialization process of the photodynamic technology platform project, after careful research and analysis by the company, it is planned to change the "Hemoporfin U.S. Registration Project" to the "Photodynamic Drug Innovative Research and Development Sustainable Development Project." This change has been reviewed and approved at the 13th meeting of the eighth board of directors and the 11th meeting of the eighth board of supervisors held on October 30, 2025, as well as the first extraordinary general meeting of shareholders of 2025 on November 26, 2025. For details, please refer to the "Announcement on Changes in Investment Projects with Partial Raised Funds" disclosed by the company on the website of the Shanghai Stock Exchange on November 1, 2025 (Announcement Number: Lin 2025-035).
During this reporting period, the company’s specific use of funds for investment projects with changed raised funds is detailed in Appendix 2, "Changes in Investment Projects with Raised Funds".
5. Problems in the use and disclosure of raised funds
During the reporting period, the company has timely, truthfully, accurately and completely disclosed the storage, management and actual use management of the company's raised funds in accordance with the provisions of relevant laws and regulations such as the "Supervisory Rules for Funds Raised by Listed Companies", "Self-Regulatory Supervision Guidelines for Companies Listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operations" and the company's "Management Measures for the Use of Raised Funds". There are no violations in the management of raised funds. The company has faithfully fulfilled its obligation to disclose the progress of the use of raised funds, and there are no major problems in the use and disclosure of the company's raised funds.
- The concluding opinions of the accounting firm’s assurance report on the deposit, management and use of the company’s annual raised funds.
After verification, PricewaterhouseCoopers Zhongtian Accounting Firm (Special General Partnership) believes that: Fudan Zhangjiang’s special report on the deposit, management and use of raised funds complies with the China Securities Regulatory Commission Announcement [2025] No. 10 "Supervisory Rules for Raised Funds of Listed Companies" in all major aspects ” and the “Shanghai Stock Exchange’s Self-Regulatory Guidelines for Companies Listed on the Science and Technology Innovation Board No. 1 - Standardized Operations (Revised in May 2025)” promulgated by the Shanghai Stock Exchange, and truthfully reflects the storage, management and use of funds raised by your company in 2025 in all major aspects.
- The concluding opinions of the special verification report issued by the sponsor on the deposit and use of the company's annual raised funds
After verification, the sponsor believes that the deposit and use of the company's raised funds in 2025 complies with the "Measures for the Administration of the Sponsorship Business of Securities Issuance and Listing", "Supervisory Rules for Funds Raised by Listed Companies", "Shanghai Stock Exchange's Science and Technology Innovation Board Stock Listing Rules", "Shanghai Stock Exchange's Self-Regulatory Guidelines for Companies Listed on the Science and Technology Innovation Board No. 1 - Standardized Operations" and "Raised Funds Management" In accordance with the provisions of laws, regulations and institutional documents such as the Measures, the raised funds have been stored in special accounts and used specifically, and relevant information disclosure obligations have been fulfilled in a timely manner. There has been no disguised change in the use of raised funds and damage to the interests of shareholders, no illegal use of raised funds, and the use of raised funds by the issuer has not violated relevant national anti-money laundering laws and regulations. The sponsor has no objection to the deposit and use of funds raised by Fudan Zhangjiang in 2025.
Announcement is hereby made.
Board of Directors of Shanghai Fudan Zhangjiang Biopharmaceutical Co., Ltd.
March 31, 2026
Schedule 1:
Comparison table of usage of raised funds
Unit: 10,000 yuan Currency: RMB Issuance name 2020 initial public offering of stocks
Date of receipt of raised funds: June 12, 2020
The total amount of raised funds invested this year is 1,629.42
The total amount of raised funds invested is 84,910.33
Total raised funds changed use 15,555.36Note
Proportion of total raised funds changed use Note 15.97% Note
As of the end of the period As of the end of the period
The project reaches
Changed Cumulative Investment Final Investment
Commitment to invest until scheduled this year Is the project feasible?
Project, including raised funds As of the end of the period The accumulated amount and commitment progress as of the end of the period
Projects and super-raised investment projects can be used after adjustment for investment in this year
Partial change Commitment investment Commitment investment Total investment amount Commitment investment amount (%)
Type of investment of raised funds Total amount of investment Status date Current expected Major changes (such as total amount (1) (2) The difference in amount (4)＝
Toward period (specific benefits) (3)＝ (2)/(1
to month)
(2)-(1) )
Heimoporfenib discomfort
R&D project Before change 23,000.00 7,444.64 7,444.64 1,479.05 7,444.64 0 100 Changed Not applicable No national registration project Photodynamic drugs 2027
Not suitable for innovative R&D sustained R&D projects after changes - 15,555.36 15,555.36 150.37 150.37 -15,404.99 0.97 December 31 Not applicable No
Continued development project days
Biomedical Innovation 2023
Not suitable for new R&D continuing R&D projects Not applicable 24,000.00 24,000.00 24,000.00 - 24,830.75 830.75 103.46 December 31 Not applicable No
Use development project day
Acquisition of Taizhou Fu Others (acquisition in 2020
discomfort
Zhangjiang minority assets) Not applicable 18,000.00 18,000.00 18,000.00 - 17,839.30 -160.70 99.11 December 31 Not applicable No
use
Equity Project Day
The super-raised funds are used for other purposes (replenishment)
discomfort
(permanent supplementary loan repayment) Not applicable - - - - 34,645.26 - - Not applicable Not applicable No
use
working capital
Total 65,000.00 65,000.00 65,000.00 1,629.42 84,910.33 -14,734.94 - - - - -
The company's "Hemporfin U.S. registration project" was affected by factors such as changes in the international environment and regulatory policies, the feedback speed and communication efficiency of domestic and foreign intermediaries and overseas medical institutions, resulting in clinical research progress that was less than expected. In order to reduce the risk that the investment of raised funds does not meet the plan, improve the efficiency of the use of raised funds, and accelerate the research and development and industrialization process of the photodynamic technology platform project, the company plans to change the "Hemporfin U.S. Registration Project" to the "Photodynamic Drug Innovation R&D Sustainable Development Project" after careful research and analysis by the company. Reasons for this change in progress have been reviewed and approved at the company's 13th meeting of the eighth board of directors and the 11th meeting of the eighth board of supervisors held on October 30, 2025, as well as the first extraordinary shareholders' meeting of 2025 held on November 26, 2025. Specific content
For details, please refer to the "Announcement on Changes in Investment Projects with Partial Raised Funds" disclosed by the company on the website of the Shanghai Stock Exchange on November 1, 2025 (Announcement No.: Lin 2025-035).
Project feasibility
major changes occurred
Not applicable
transformational situation
Ming
- The company held the 14th (temporary) meeting of the eighth session of the Board of Directors on November 26, 2025 to review and approve the "Proposal on the Use of Raised Funds for Equal-Amount Replacement". It was agreed that the company would transfer the funds raised for investment projects in equal amounts to the company's basic deposit account to pay salaries and other related expenses based on the actual situation and after completing the relevant approval procedures. The transfer of equal amounts of funds was deemed to be a replacement with raised funds. At the same time, the "Supervisory Rules for Raised Funds for Listed Companies" will be implemented until the announcement and disclosure of Japanese-funded projects. Previous equal transfers of investment projects raised during the period will be confirmed. The company's sponsor issued an agreed verification opinion on this matter. For details, please refer to the "Announcement on the Use of Raised Funds for Equal Exchange" disclosed by the company on the Shanghai Stock Exchange website (www.sse.com.cn) and designated investment and replacement media on November 27, 2025 (announcement number: Lin 2025-042). During the reporting period, the company used raised funds to replace the amount previously invested in raised investment projects of RMB 4.3067 million.
Situation 2. The company held the third (temporary) meeting of the seventh board of directors and the third (temporary) meeting of the seventh board of supervisors on June 24, 2020, and reviewed and approved the "Proposal on Using Raised Funds to Replace Self-raised Funds Pre-invested in Raised Investment Projects" respectively.
It was agreed to use the raised funds of RMB 228.305 million to replace the self-raised funds that had been invested in the investment project before the raised funds were received.
Recruit with idle time
Funds temporarily replenished
During the reporting period, the company did not use idle raised funds to temporarily replenish working capital.
Replenish working capital
situation
Idle fundraising In order to improve the efficiency of fund use and rationally utilize idle raised funds, the company held the 10th meeting of the 8th board of directors and the 9th meeting of the 8th board of supervisors on April 28, 2025, respectively, and reviewed and approved the "Proposal on the use of temporary funds for currently idle raised funds for cash management", agreeing that the company will conduct cash management without affecting the progress of investment projects with raised funds, without affecting the company's normal production and operations, and ensuring the safety of funds, using the most profitable management, investment Temporarily idle raised funds not exceeding RMB 180 million (including the principal amount) will be used for cash management to purchase investment products with high safety, good liquidity, and capital guarantee agreements (including but not limited to the purchase of capital guaranteed management-related products, structured deposits, certificates of deposit, time deposits, notice deposits, etc.). The use period is valid within 12 months from June 20, 2025. Within the aforementioned limit and period, funds can be used on a rolling basis. Situation As of December 31, 2025, the balance of financial products purchased by the company using idle raised funds was RMB 0. Use super raised funds
permanent replenishment stream
During the reporting period, the company did not use excess raised funds to permanently replenish working capital or return bank loans.
Pay back bank loan
situation
Fund raised
During the reporting period, the company had no remaining amount of raised funds.
Causes
Raise funds for its
Not applicable.
his usage
Note: 1. The difference in the mantissa between the total and the sum of each detail is due to rounding;
The "total amount of funds raised for change of purpose" does not include the accumulated interest and financial management income before the change;
“Proportion of total raised funds with changed use” is the ratio of raised funds with changed use to net raised funds;
The "adjusted total investment", "committed investment amount as of the end of the period" and "accumulated investment amount as of the end of the period" for Heimopfen's U.S.-registered project are the total cumulative investment and raised funds as of November 27, 2025;
The interest and financial management income generated from the funds raised by the "Hemporfin US Registration Project" will be deposited together with the remaining raised funds into the special fund-raising account of the "Photodynamic Drug Innovation R&D and Sustainable Development Project" until December 2025.
As of March 31, the cumulative interest and financial income generated by the fund-raising account for the photodynamic drug innovation, R&D and sustainable development project, net of handling fees, totaled RMB 25.8773 million. All of these funds will be used for the project.
related expenses;
The "adjusted total investment" and "committed investment amount as of the end of the period" of the photodynamic drug innovative R&D sustainable development project are the balance of raised funds as of November 27, 2025, after deducting the accumulated investment amount for Hemoporfin's U.S.-registered project, excluding interest and financial management income; the "investment amount for the year" and "accumulated investment amount as of the end of the period" are the amount of raised funds invested from November 28, 2025 to December 31, 2025;
The "accumulated investment amount as of the end of the period" for biomedical innovation R&D sustainable development projects includes interest and financial management income;
The over-raised funds are used to permanently replenish working capital. The "accumulated investment amount as of the end of the period" includes the interest and financial management income generated by the over-raised funds.
Schedule 2:
Changes to the investment project status of raised funds
Unit: 10,000 yuan Currency: RMB Issuance name 2020 initial public offering of stocks
Date of receipt of raised funds: June 12, 2020
Is the project change cost reached in the next fundraising year? No this year. The actual scheduled project investment is reached.
After the change, the project was calculated as of the end of the period. Accumulated. Feasible. Board of directors. Corresponding item after the change of the shareholders meeting. Investment progress (%). Actual.
Implementation entity Implementation location Proposed investment Raising plan Cumulative investment Actual investment Status is approved Project original project project (3) = (2)/(1) Total cash advance funds Amount (1) Deposit amount Status date Whether issued Time passed Amount (2) of time nature (with high quality effects and substantial benefits)
year, month) light power
Heimbo Research 2027
Drug creation No No 2025 2025
Finnish American hair age 12
New R&D Fudan Zhangjiang China/United States 15,555.36 15,555.36 150.37 150.37 0.97 Suitable Suitable No October 30 November 26
Registration Item Item Month 31
Continuous use day by day
target date
Exhibition items
Total 15,555.36 15,555.36 150.37 150.37 0.97 - - - - - -
Affected by factors such as changes in the international environment and regulatory policies, the feedback speed and communication efficiency of domestic and foreign intermediaries and overseas medical institutions, clinical research progress is less than expected. In order to reduce the investment risk of raised funds, improve the efficiency of the use of raised funds, and accelerate the research and development and industrialization process of the photodynamic technology platform project, after careful research and analysis by the company, it is planned to change the reasons, decision-making procedures and
It is the "Photodynamic Drug Innovative Research and Development Sustainable Development Project". This change has been disclosed in the company’s 13th meeting of the 8th board of directors and the 11th information disclosure statement of the 8th board of supervisors held on October 30, 2025.
It was reviewed and approved at the meeting and the first extraordinary general meeting of shareholders in 2025 held on November 26, 2025. For details on the changes to the raised investment projects, please refer to the "Announcement on Changing the Investment Projects of Partially Raised Funds" disclosed by the company on the website of the Shanghai Stock Exchange on November 1, 2025 (Announcement No.: Lin 2025-035).
Failure to meet planned progress
Not applicable
and reasons
Project feasibility after changes
Not applicable
Description of major changes
Note: 1. "The total amount of raised funds planned to be invested in the project after the change" and the "accumulated investment amount planned as of the end of the period" are the balance of raised funds as of November 27, 2025, after deducting the accumulated investment amount for Heimopfen's US-registered project, excluding interest and financial management income;
"Actual investment amount this year" and "actual cumulative investment amount" are the amount of funds raised from November 28, 2025 to December 31, 2025;
The interest and financial income generated from the funds raised by the "Hemporfin U.S. Registration Project" will be deposited with the remaining raised funds into the special fund-raising account of the "Photodynamic Drug Innovative Research and Development Sustainable Development Project". As of December 31, 2025, the cumulative interest and financial income generated by the fund-raising account of the Photodynamic Drug Innovative Research and Development Sustainable Development Project, net of handling fees, totals RMB 25.8773 million, net of handling fees. All these funds will be used for expenses related to the project.