[Temporary Announcement] Bairage: Announcement on the progress of applying for public issuance of shares and listing on the North Exchange and suspension of trading
Announcement number: 2026-001
Securities code: 874637 Securities abbreviation: Baireji Sponsoring broker: CICC
Changzhou Bairage Biopharmaceutical Co., Ltd.
Announcement on the progress of applying for public issuance of stocks and listing on the Beijing Stock Exchange and suspension of trading
The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete, and that there are no false records, misleading statements or major omissions, and bear individual and joint legal liability for the authenticity, accuracy and completeness of the contents.
Changzhou Bairage Biopharmaceutical Co., Ltd. (hereinafter referred to as the "Company") plans to publicly issue shares and be listed on the Beijing Stock Exchange. On December 13, 2024, under the guidance of China International Capital Corporation, the company has passed the guidance and acceptance of the Jiangsu Supervision Bureau of the China Securities Regulatory Commission (hereinafter referred to as the "China Securities Regulatory Commission").
1. Information about the company’s public issuance of shares and listing on the Beijing Stock Exchange
(1) The application is accepted
On December 23, 2024, the company submitted application materials to the Beijing Stock Exchange for the public issuance of shares to unspecified qualified investors and listing on the Beijing Stock Exchange.
On December 26, 2024, the company received the "Acceptance Notice" (GF2024120008) issued by the Beijing Stock Exchange. The Beijing Stock Exchange has officially accepted the company's application for public issuance of shares to unspecified qualified investors and listing on the Beijing Stock Exchange.
On December 26, 2024, the company's prospectus and other documents were disclosed on the official website of the Beijing Stock Exchange. For details, please see: https://www.bse.cn/audit/project_news_detail.html?id=570.
The company's shares have been suspended from trading on December 24, 2024.
(2) Receive feedback or review inquiries and replies
On January 20, 2025, the company received the "Letter of Review and Inquiry Regarding the Application Documents for the Public Issuance of Shares and Listing on the North Exchange of Changzhou Bairegi Biopharmaceutical Co., Ltd." issued by the Beijing Stock Exchange. For details, please visit the official website of the Beijing Stock Exchange: https://www.bse.cn/audit/project_news_detail.html?id=570.
On February 19, 2025, the company submitted an application for an extension of response to the Beijing Stock Exchange and set the review time for the response to the inquiry letter.
Announcement number: 2026-001
It has been postponed for 20 working days. For details, please refer to the "Informative Announcement of Changzhou Bairegi Biopharmaceutical Co., Ltd. on the Extension of Reply to the First Round Review Inquiry Letter on the Public Issuance of Stocks and Listing Application Documents on the Beijing Stock Exchange" disclosed by the company on the designated information disclosure platform of the National Equities Exchange and Quotations (www.neeq.com.cn) on February 19, 2025 (Announcement Number: 2025-002).
On March 14, 2025, the company once again submitted an application for an extension of response to the Beijing Stock Exchange, and extended the response time to the review inquiry letter by another 20 working days. For details, please refer to the company’s announcement on March 14, 2025. The "Indicative Announcement of Changzhou Bairegi Biopharmaceutical Co., Ltd.'s Extension of Reply to the First Round Review Inquiry Letter Regarding the Public Issuance of Stocks and Listing Application Documents on the Beijing Stock Exchange" was disclosed on the designated information disclosure platform of the National Equities Exchange and Quotations (www.neeq.com.cn) on the same day (Announcement No.: 2025-003).
On March 24, 2025, the company submitted the "Application of Changzhou Bairegi Biopharmaceutical Co., Ltd. for Suspension of the North Exchange's Listing Review Due to Expired Financial Reports" to the Beijing Stock Exchange, and the suspension was approved by the Beijing Stock Exchange on March 31, 2025. The "Informative Announcement of Changzhou Bairegi Biopharmaceutical Co., Ltd. on its application to suspend the public issuance of shares and review for listing on the Beijing Stock Exchange" (announcement number: 2025-004) was disclosed on the designated information disclosure platform of the National Equities Exchange and Quotations (www.neeq.com.cn).
On June 23, 2025, due to the elimination of the suspension of review, the company submitted an application for resumption of review to the Beijing Stock Exchange. On June 26, 2025, the Beijing Stock Exchange agreed to resume the review of the company's public issuance of shares and listing on the North Exchange. On June 27, 2025, the company disclosed the "Announcement on the Progress of Changzhou Bairegi Biopharmaceutical Co., Ltd.'s Application for Public Issuance of Shares and Listing on the Beijing Stock Exchange and Suspension" (Announcement Number: 2025-031) on the designated information disclosure platform of the National Equities Exchange and Quotations (www.neeq.com.cn).
On July 3, 2025, the company disclosed relevant materials related to the first round of inquiry responses on the official website of the Beijing Stock Exchange (www.bse.cn).
On August 21, 2025, the company received the "Second Round Review Inquiry Letter Regarding the Application Documents for the Public Issuance of Stocks and Listing on the Beijing Stock Exchange by Changzhou Bairegi Biopharmaceutical Co., Ltd." issued by the Beijing Stock Exchange. For details, please see the official website of the Beijing Stock Exchange: https://www.bse.cn/audit/project_news_detail.html?id=570.
On December 2, 2025, the "Response to the Second Round Review Inquiry Letter Regarding the Application Documents for the Public Issuance of Shares and Listing on the North Exchange by Changzhou Barygi Biopharmaceutical Co., Ltd." submitted by the company and intermediaries has been disclosed on the official website of the North Exchange. For details, please see the reply link: https://www.bse.cn/audit/project_news_detail.html?id=570.
(3) Suspension of review
Announcement number: 2026-001
The deadline for the financial reports quoted in the company's public issuance of stocks to unspecified qualified investors and listing on the Beijing Stock Exchange is December 31, 2024. In view of the imminent expiration of the financial reports, in accordance with the relevant provisions of the "Beijing Stock Exchange's Public Issuance of Stocks to Unspecified Qualified Investors and Listing Review Rules" and "Beijing Stock Exchange's Guidelines for the Public Issuance of Stocks to Unspecified Qualified Investors and Listing Business No. 1 - Application and Review", the company on September 25, 2025 An application for suspension of review was submitted to the North Exchange on September 29, 2025. On September 29, 2025, the North Exchange approved the company's application for suspension of review. In the business system, the North Exchange adjusted the review status of the company's public issuance of stocks to unspecified qualified investors and listing on the North Exchange to review suspension.
(4) Resume review
In accordance with the relevant provisions of the "Beijing Stock Exchange's Public Issuance of Stocks to Unspecified Qualified Investors and Listing Review Rules" and "Beijing Stock Exchange's Guidelines for the Public Issuance and Listing of Stocks to Unspecified Qualified Investors No. 1 - Application and Review", Changzhou Biregi Biopharmaceutical Co., Ltd. and intermediaries have updated the latest deadline for the financial statements cited in the application documents to June 30, 2025. According to relevant regulations, the company submitted an application to the Beijing Stock Exchange for resumption of listing review.
On November 21, 2025, the North Exchange has adjusted the review status of the company's public issuance of shares to unspecified qualified investors and listing on the North Exchange in the business system to resume review.
(5) Approval
On January 21, 2026, the Beijing Stock Exchange issued the "Announcement on the Results of the 6th Review Meeting of the Beijing Stock Exchange Listing Committee in 2026". The review results: Changzhou Bairegi Biopharmaceutical Co., Ltd. meets the issuance conditions, listing conditions and information disclosure requirements. For specific content, please see the official website of Beijing Stock Exchange: https://www.bse.cn/disclosure/2026/2026-01-21/1768994291_777429.pdf
2. Risk warning
The company's public issuance of stocks to unspecified qualified investors and its listing on the Beijing Stock Exchange still need to be registered with the China Securities Regulatory Commission. There is a risk that the company will not be able to pass the registration with the China Securities Regulatory Commission. The company will be exposed to the risk of being unable to go public due to the failure of the public offering.
As the company's application to the Beijing Stock Exchange for public issuance and listing of shares to unspecified qualified investors is still in progress, the company's shares will continue to be suspended from trading.
Announcement number: 2026-001
The company will strictly comply with the provisions and requirements of laws and regulations and timely perform its information disclosure obligations based on the progress of relevant matters. Investors are kindly requested to pay attention and pay attention to investment risks.
3. Document directory for reference
"Announcement on the Results of the 6th Review Meeting of the Beijing Stock Exchange Listing Committee in 2026"
Board of Directors of Changzhou Bairage Biopharmaceutical Co., Ltd.
January 22, 2026