Betta Pharmaceuticals: Announcement on the use of idle raised funds for cash management
Securities code: 300558 Securities abbreviation: Betta Pharmaceuticals Announcement number: 2026-024
Beida Pharmaceutical Co., Ltd.
Announcement on using idle raised funds for cash management
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and contains no false records, misleading statements or major omissions.
Betta Pharmaceuticals Co., Ltd. (hereinafter referred to as the "Company") held the second meeting of the fifth session of the Board of Directors on April 21, 2026, and reviewed and approved the "Proposal on the Use of Idle Raised Funds for Cash Management" and agreed to use idle raised funds with a maximum amount of no more than 200 million yuan for cash management without affecting the company's normal operations and the normal progress of the raised fund investment project plan. Within the above quota, the funds can be used on a rolling basis, and the investment period is within 12 months from the date of the second meeting of the fifth session of the Board of Directors to review and approve this proposal. At the same time, the chairman of the company is authorized to decide on specific investment matters and sign relevant contract documents within the validity period of the above quota and resolution. The company's finance department is responsible for organizing and implementing it. The specific situation is now announced as follows:
1. Basic situation of raised funds
As approved by the China Securities Regulatory Commission (hereinafter referred to as the "China Securities Regulatory Commission"), the company issued 10,138,621 RMB ordinary shares (A shares) to 14 specific targets, with an issue price of 98.83 yuan per share, and the actual total raised funds was RMB 1,001,999,913.43. Yuan (in capital letters: RMB 1,011,919,000,909, 113,44.3 cents). After deducting the issuance expenses (excluding tax) of RMB 6,594,538.73, the actual net amount raised was RMB 995,405,374.70. The above-mentioned raised funds have been deposited in the company's special storage account for raised funds on November 24, 2020. On November 24, 2020, Lixin Accounting Firm (Special General Partnership) verified the actual receipt of subscription funds and issued a "Capital Verification Report" on November 25, 2020 (Xin Huishi Bao Zi [2020] No. ZF10986). The company stores the raised funds in a special account, and has signed a "Tripartite (Four-Party) Supervision Agreement on Raised Funds" with the sponsor institution, the bank where the raised funds are opened, and the subsidiaries that implement the raised investment projects.
2. Usage of raised funds
According to the "Prospectus of Betta Pharmaceuticals Co., Ltd. Issuing Stocks to Specific Targets and Listing on the GEM", the investment projects and use plans of the funds raised from the issuance of stocks to specific targets are as follows:
Unit: RMB 10,000 Serial number Project name Total investment amount Amount of raised funds used 1 New drug R&D and R&D equipment upgrade project 112,674.73 74,200.00 2 Supplementary working capital 26,000.00 26,000.00 Total 138,674.73 100,200.00
If the actual net amount of funds raised in this issuance after deducting issuance expenses is less than the amount of funds to be invested in the above-mentioned projects, the company will adjust and ultimately decide the priority of the investment of raised funds and the specific investment amount of each project based on the actual net amount of funds raised and the priority of the project. The shortfall in raised funds will be solved by the company with self-raised funds.
Before the funds raised from this issuance are in place, the company has invested first with self-raised funds based on the actual progress of the project. According to the "Assurance Report on Betta Pharmaceuticals Co., Ltd.'s Substitution of Raised Funds for Self-raised Funds Pre-invested in Raised Investment Projects and Paid Issuance Fees" issued by Lixin Accounting Firm (Special General Partnership) (Xin Huishi Bao Zi [2020] No. ZF11056) and the company's "Resolution of the 14th Meeting of the Third Board of Directors", the company used raised funds of 176,579,962.87 yuan to replace self-raised funds pre-invested in fundraising projects and paid issuance fees.
Since the construction of investment projects with raised funds requires a certain period of time, the raised funds may be partially idle in the short term based on the construction progress of the investment projects with raised funds.
3. Basic situation of using idle raised funds for cash management this time
- Investment purpose
In order to further standardize the management of raised funds and improve the efficiency of fund use, on the premise of ensuring the construction progress of the investment projects with raised funds and the company's daily operating capital needs, the company will use part of the idle raised funds for cash management to obtain stable returns on the basis of effectively controlling investment risks, which will help improve the efficiency of the use of raised funds and maximize shareholder value.
- Investment amount and period
Based on the company's current capital usage, the construction progress of the investment projects and considering maintaining sufficient liquidity, the company will use no more than 200 million yuan of temporarily idle raised funds to purchase capital-guaranteed financial products with high security and good liquidity. The use period will be within 12 months from the date of the second meeting of the fifth board of directors considering and approving this proposal. Within the validity period of the above quota and resolution, the funds can be used on a rolling basis. The idle raised funds used to purchase principal-guaranteed financial products will be returned to the special raised funds account in a timely manner upon expiration.
- Investment varieties
Investment types that use idle raised funds for cash management must meet the following conditions:
(1) High-security products such as structured deposits and certificates of deposit;
(2) Products with good liquidity and an investment period of no more than 12 months;
(3) Investment products shall not be used for pledge, and the product-specific settlement account shall not store non-raised funds or be used for other purposes, nor shall it affect the normal progress of the raised funds investment plan. If the company opens or cancels a product-specific settlement account, the company will promptly submit it to the Shenzhen Stock Exchange for filing and announcement.
The investment types do not involve high-risk investments such as securities investment and derivatives investment as stipulated in the "Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 2 - Standardized Operation of GEM Listed Companies".
- Investment decision-making and implementation
The chairman of the board is authorized to decide on specific investment matters and sign relevant contract documents within the validity period of the above quota and resolution. The company's finance department is responsible for organizing the implementation, including but not limited to: selecting a qualified professional investment institution as the trustee, clarifying the amount and period of entrusted investment, selecting the types of entrusted investment products, etc. The company's finance department will promptly analyze and track the investment direction of investment products and project progress. If the assessment finds that there are risk factors that may affect the company's capital security, corresponding measures will be taken in a timely manner to control investment risks.
- Income distribution method of investment products
The proceeds obtained by the company from using part of the idle raised funds for cash management will be managed and used in strict accordance with the requirements of the China Securities Regulatory Commission and the Shenzhen Stock Exchange on regulatory measures for raised funds.
- Information disclosure
The company will perform its information disclosure obligations in a timely manner in accordance with the relevant provisions of laws, regulations and normative documents such as the "Shenzhen Stock Exchange GEM Stock Listing Rules", "Shenzhen Stock Exchange Self-Regulatory Supervision Guidelines for Listed Companies No. 2 - Standardized Operations of GEM Listed Companies", "Supervisory Rules for Fund Raising by Listed Companies", etc.
- Others
The use of idle raised funds for cash management does not constitute a related transaction, there is no disguised change in the use of raised funds, and it will not affect the normal progress of the raised funds project; the source of funds is idle raised funds and does not involve bank credit funds.
4. Investment risks and risk control measures
- Investment risks
(1) Although short-term bank capital-guaranteed financial products are low-risk investments, the financial market is greatly affected by the macroeconomy, and it cannot be ruled out that this matter will be affected by market fluctuations.
(2) The company will intervene in a timely and appropriate manner according to changes in the economic situation and financial markets, so the actual returns from short-term investments are unpredictable.
(3) Relevant staff are at risk of operating in violation of regulations and losing control of supervision.
- Risk control measures
(1) When the company purchases capital-guaranteed financial products, it will choose investment products from commercial banks with high security, good liquidity, and a term of no more than 12 months, and clarify the amount, term, investment type, rights, obligations, and legal responsibilities of both parties, etc. of the investment product.
(2) The company's finance department will establish an investment ledger to promptly analyze and track changes in the net value of products. If the assessment finds that there are risk factors that may affect the company's capital security, corresponding measures will be taken in a timely manner to control investment risks.
(3) Independent directors and the audit committee have the right to supervise and inspect the use of funds, and can hire professional institutions to conduct audits when necessary.
(4) The company's internal audit department is responsible for conducting comprehensive inspections of products, and based on the principle of prudence, reasonably predicts the possible risks and returns of various investments, and reports regularly to the audit committee of the board of directors.
(5) The company will disclose the purchase of financial products and profits and losses during the reporting period in regular reports in accordance with the relevant regulations of the Shenzhen Stock Exchange.
5. Impact on the company
On the premise of ensuring the construction progress of the investment projects with raised funds and daily operating capital needs, the company uses part of the temporarily idle raised funds for cash management, which can improve the efficiency of fund use, obtain steady returns, maintain and increase the value of assets, and create more returns for shareholders. The company will strictly follow the accounting standards for enterprises, conduct corresponding accounting for this matter and accurately present it in the financial statements.
6. Implementation review procedures and related opinions
The second meeting of the company's fifth board of directors reviewed and approved the "Proposal on the Use of Idle Raised Funds for Cash Management", agreeing that the company will use no more than 200 million yuan of idle raised funds for cash management. The funds within the above limit can be used on a rolling basis, and the investment period is within 12 months from the date of the second meeting of the fifth board of directors' consideration and approval of this proposal. At the same time, the chairman of the company is authorized to decide on specific investment matters and sign relevant contract documents within the validity period of the above quota and resolution. The company's finance department is responsible for organizing and implementing it.
7. Documents for reference
Resolution of the second meeting of the fifth board of directors.
Announcement is hereby made.
Board of Directors of Betta Pharmaceutical Co., Ltd.
April 22, 2026