Microchip Biological aprueba plan de sustitución de financiamiento, optimizando la eficiencia del uso de aproximadamente 2,36 mil millones de yuanes en fondos recaudados

【Shenzhen News】Shenzhen Micropore Biotech Co., Ltd. (SEC code: 688321, stock short name: Microchip Biology) held the 25th meeting of the third session of the board of directors on March 30, 2026, and approved the “Resolution on Using Own Funds, Bank Acceptance Bills, etc. to Pay the Funds Required for the Projects Raised from the Public Offering and Replacing Them in Equal Amounts with Raised Funds.” The company will first pay the project funds raised from the offering using its own funds and bank acceptance bills, and will subsequently replace them in equal amounts with raised funds. This measure is intended to improve the efficiency of capital use and ensure the smooth progress of multiple raised-funds investment projects.

The announcement shows that since 2019, Microchip Biology has raised a cumulative net amount of RMB 2.362 billion through three financings, including RMB 945 million from the company’s initial public offering of shares in 2019, RMB 485 million from the issuance of convertible bonds in 2022, and RMB 933 million from the 2024 share placement (private placement) financing, mainly directed to areas such as the R&D of innovative drugs, construction of production bases, and replenishment of working capital.

Basic Situation of Raised Funds

The company’s fund-raising status for the most recent three rounds is as follows:

• | 24.72 | 23.63 |

Deployment of Raised Funds Investment Projects

The company’s three rounds of raised financing mainly target the R&D of innovative drugs and the construction of the production system. The specific project investment plans are as follows:

Projects in the 2019 Initial Public Offering of Shares

Projects in the 2022 Convertible Bonds Issuance

Projects in the 2024 Share Placement (Private Placement) Financing

Core Content of the Raised-Funds Replacement Plan

According to the announcement, the main reasons the company uses own funds and bank acceptance bills to pay the raised-funds project funds in advance include:

1. Personnel compensation, social security, and housing fund contributions need to be paid through basic deposit accounts and cannot be directly transferred from raised funds special accounts
2. For small-amount, occasional expenditures, paying through raised funds special accounts is less efficient
3. Payments for overseas procurement and customs duties are restricted by the functional limitations of raised funds accounts
4. Centralized procurement involves both raised-funds and non-raised-funds projects and requires unified settlement
5. Payments made with bank acceptance bills can accelerate capital turnover and reduce financial costs

The company will establish strict replacement operation procedures. The finance department will prepare a monthly replacement summary table and complete the approval procedures, while also establishing special ledgers to record capital transfer information to ensure that the use of raised funds is compliant. The sponsor institution, Guotou Securities, has issued an opinion with no objections regarding the matter after conducting a verification, and believes that the proposal complies with relevant provisions such as the “Administrative Rules for the Supervision of Raised Funds of Listed Companies,” among others.

Impact on Company Operations

Microchip Biology states that the proposal is conducive to improving the efficiency of raised funds use, will not affect the normal implementation of raised-funds projects, and there is no circumstance of indirectly changing the intended use of raised funds. As of now, multiple innovative drug R&D and production base projects involved in the company’s three rounds of raised financing are progressing as planned. This optimization of fund management will further ensure the project construction timeline.

(Fin)

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