Announcement on Shareholding Reduction Plan by Shareholder Holding More Than 5% of the Shares
Securities code: 688505 Securities abbreviation: Fudan Zhangjiang Announcement number: Lin 2026-023
Shanghai Fudan Zhangjiang Biopharmaceutical Co., Ltd.
Announcement on the plan for shareholders holding more than 5% of the shares to reduce their shareholdings
The company's board of directors, all directors and relevant shareholders 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 in accordance with the law.
Important content reminder:
Basic information on shareholdings of major shareholders
As of the disclosure date of this announcement, Mr. Yang Zongmeng, a shareholder of Shanghai Fudan Zhangjiang Biopharmaceutical Co., Ltd. (hereinafter referred to as the "Company" or "Fudan Zhangjiang"), holds 53,644,052 shares of the company, accounting for 5.18% of the company's total share capital. The source of the company's shares held by Mr. Yang Zongmeng are shares obtained before the company's initial public offering. These shares have all been lifted from sales restrictions and listed for circulation starting from June 19, 2023.
Main contents of the shareholding reduction plan
The company recently received a "Letter of Notification on the Plan to Reduce Fudan Zhangjiang Shares" from Mr. Yang Zongmeng. Due to his own capital needs, Mr. Yang Zongmeng plans to reduce the company's shares by no more than 2,070,000 shares through centralized bidding within 3 months after 15 trading days from the date of this announcement. The proposed reduction ratio will not exceed 0.20% of the company's total share capital.
According to the commitment made by Mr. Yang Zongmeng in the "Fudan Zhangjiang Initial Public Issuance of Stocks and Listing on the Science and Technology Innovation Board Prospectus": "The price for the reduction of the company's shares held by me shall not be lower than the initial listing price. If the company has undergone ex-rights and ex-dividends such as dividend distribution, bonus shares, capital reserve transfer to share capital before reducing the company's shares, the reduction price will be adjusted accordingly." As of the disclosure date of this announcement, the adjusted amount of ex-rights and ex-dividends that has occurred in the company is 8.64 Yuan/share. If the company undergoes ex-rights and dividend events such as dividend distribution, bonus shares, capital increase, issuance of new shares or allotment of shares between the disclosure date of this announcement and the completion of the implementation of the above-mentioned shareholding reduction plan, the above-mentioned shareholders can make corresponding adjustments to the stock price and number of shares of the shareholding reduction plan based on the changes.
1. Basic situation of the holding reduction entities
Shareholder name Yang Zongmeng
Controlling shareholders, actual controllers and persons acting in concert □Yes √No Shareholders who directly hold more than 5% of the shares √Yes □No Shareholder status
Directors, supervisors and senior managers □Yes √No Others: None
Number of shares held: 53,644,052 shares
Shareholding ratio 5.18%
Source of current shareholdings Obtained before IPO: 53,644,052 shares
There is no concerted action in the above-mentioned reduction of holdings.
Shareholding reduction by major shareholders in the past 12 months
Amount of shareholding reduction Price range of shareholding reduction Name of shareholder Shareholding reduction ratio Period of shareholding reduction Disclosure date of previous shareholding reduction plan (share) (yuan/share) 2025/11/26~
Yang Zongmeng 10,365,721 1.00% 8.64-9.22 November 5, 2025 2026/1/12
2. Main contents of the shareholding reduction plan
Shareholder name Yang Zongmeng
The number of planned reductions shall not exceed: 2,070,000 shares
Planned shareholding reduction ratio shall not exceed: 0.20%
Method and corresponding reduction amount: Centralized bidding reduction, no more than: 2,070,000 shares Reduction period September 16, 2026 to December 15, 2026 Source of shares to be reduced Obtained before IPO
Reasons for planned reduction of holdings: Own capital arrangements
During the pre-disclosure period, if the company's stock is suspended from trading, the actual start time of reduction will be postponed accordingly according to the suspension time.
(1) Whether the relevant shareholders have other arrangements □Yes √No
(2) Whether major shareholders have previously made commitments on shareholding ratio, shareholding amount, shareholding period, shareholding reduction method, shareholding reduction quantity, shareholding reduction price, etc. √Yes □No
Company shareholder Yang Zongmeng promises:
(1) Within thirty-six months from the date of the company's initial listing, you shall not transfer or entrust others to manage the shares that you directly or indirectly hold that were issued before the company's initial listing, nor will the company repurchase these shares.
(2) If I reduce my holdings of the company's shares after the expiration of the restricted sales period as stated in the company's IPO prospectus and the letter of commitment issued by me, I will conscientiously abide by the relevant regulations of the securities regulatory agency on shareholder reductions, prudently formulate a share reduction plan, and reduce the number of company shares held each year within 2 years after the expiration of the restricted sales period by no more than 5% of the company's total share capital.
(3) The method by which I reduce my holdings of company shares shall comply with the relevant laws, regulations and rules applicable at that time, including but not limited to non-public transfers, secondary market bidding transactions, block transactions, agreement transfers, etc.
(4) The price at which I reduce my holdings of the company's shares shall not be lower than the initial listing price. If the company has undergone ex-rights and ex-dividend events such as dividend distribution, bonus shares, capital reserve transfer to share capital, etc. before the reduction of the company's shares, the reduction price will be adjusted accordingly.
(5) If I reduce my holdings through centralized bidding transactions, I shall report the record holding reduction plan to the stock exchange 15 trading days before selling the shares for the first time and make an announcement. However, this is excepted when the proportion of the company's shares held by the individual is less than 5%. If I reduce my holdings of company stocks through other means, I will make an announcement three trading days in advance, and perform my information disclosure obligations in a timely and accurate manner in accordance with the applicable rules of the securities regulatory authorities and stock exchanges at that time.
Is the planned shareholding reduction consistent with the previously disclosed commitments √ Yes □ No
(3) Whether it is a company that was not profitable when it was listed, and its controlling shareholders, actual controllers, directors, supervisors, and senior managers plan to reduce their pre-IPO shares □Yes √No
(4) Other matters required by the Exchange
The above-mentioned shareholders are not prohibited from reducing their shareholdings as stipulated in the "Shanghai Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 15 - Reduction of Shareholdings by Shareholders, Directors and Senior Management Personnel" and other laws and regulations.
3. Controlling shareholders or actual controllers reduce their holdings of pre-IPO shares
Is the controlling shareholder or actual controller planning to reduce its pre-IPO shares? □Yes √No
4. Risk warning related to shareholding reduction plan
(1) Uncertain risks in the implementation of the shareholding reduction plan, such as prerequisites, restrictive conditions for the implementation of the plan, and specific circumstances in which relevant conditions are achieved or eliminated, etc.
This shareholding reduction plan is carried out by shareholders based on their own capital needs. During the shareholding reduction period, shareholders will decide whether and how to implement this shareholding reduction plan based on market conditions, the company's stock price and other circumstances. There is uncertainty in the quantity and price of the shareholding reduction. This shareholding reduction plan will not have a significant impact on the company's governance structure and ongoing operations.
(2) Whether the implementation of the shareholding reduction plan may lead to the risk of changes in the control of the listed company
□Yes √No
(3) Other risk warnings
This shareholding reduction plan complies with relevant laws and regulations such as the Securities Law of the People's Republic of China, the Shanghai Stock Exchange's Science and Technology Innovation Board Stock Listing Rules, and the Interim Measures for the Management of Share Reductions by Shareholders of Listed Companies. During the implementation of this shareholding reduction plan, the company's shareholders will strictly abide by relevant laws, regulations and relevant commitments. The company and relevant shareholders will continue to pay attention to the progress of this shareholding reduction plan and perform information disclosure obligations in a timely manner. Investors are kindly requested to invest rationally and pay attention to investment risks.
Announcement is hereby made.
Board of Directors of Shanghai Fudan Zhangjiang Biopharmaceutical Co., Ltd.
August 26, 2026