上海市广发律师事务所 关于上海皓元医药股份有限公司 2025 年第三次临时股东大会的法律意见书 致：上海皓元医药股份有限公司 上海皓元医药股份有限公司（以下简称"公司"）2025 年第三次临时股东大 会于 2025 年 5 月 15 日在上海市浦东新区张衡路 1999 弄 3 号楼公司会议室召开。 上海市广发律师事务所经公司聘请，委派顾艳律师、许艳律师出席本次会议，根 据《中华人民共和国公司法》（以下简称"《公司法》"）、《上市公司股东会规则》 （以下简称"《股东会规则》"）等法律法规、其他规范性文件以及《上海皓元医 药股份有限公司章程》（以下简称"《公司章程》"）的规定，就本次股东大会的召 集和召开程序、召集人及出席会议人员的资格、会议议案、表决方式和表决程序、 表决结果和会议决议等出具本法律意见书。 为出具本法律意见书，本所律师对本次股东大会所涉及的有关事项进行了审 查，查阅了相关会议文件，并对有关问题进行了必要的核查和验证。 公司已向本所保证和承诺，公司向本所律师所提供的文件和所作的陈述和说 明是完整的、真实的和有效的，有关原件及其上面的签字和印章是真实的，且一 切足以影响本法律意见书的事实和文件均已向 ...

| 证券代码：688131 | 证券简称：皓元医药 | 公告编号：2025-061 | | --- | --- | --- | | 转债代码：118051 | 转债简称：皓元转债 | | 上海皓元医药股份有限公司 关于可转债投资者适当性要求的风险提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 根据相关法律法规规定及《上海皓元医药股份有限公司向不特定对象发 行可转换公司债券募集说明书》（以下简称"《募集说明书》"）的约定，上海 皓元医药股份有限公司（以下简称"公司"）本次发行的"皓元转债"自 2025 年 6 月 4 日起可转换为公司股份。 公司现就本次向不特定对象发行可转换公司债券，对不符合上海证券交易所 科创板股票投资者适当性要求的投资者所持"皓元转债"不能转股的风险，提示 如下： 一、可转换公司债券发行上市概况 （一）可转债发行情况 经中国证券监督管理委员会《关于同意上海皓元医药股份有限公司向不特定 对象发行可转换公司债券注册的批复》（证监许可[2024]1289 号）同意，公司向 不特定对 ...

上海皓元医药股份有限公司 2025年第三次临时股东大会会议资料 转债代码：118051 转债简称：皓元转债 证券代码：688131 证券简称：皓元医药 上海皓元医药股份有限公司 2025年第三次临时股东大会会议资料 二〇二五年五月 上海皓元医药股份有限公司 2025年第三次临时股东大会会议资料 2025年第三次临时股东大会会议资料 目 录 | 上海皓元医药股份有限公司2025年第三次临时股东大会会议须知 | 3 | | --- | --- | | 上海皓元医药股份有限公司2025年第三次临时股东大会会议议程 | 5 | | 上海皓元医药股份有限公司2025年第三次临时股东大会会议议案 | 7 | | 议案一：关于公司新增关联方及新增2025年度日常关联交易预计的议案 | 7 | 2 上海皓元医药股份有限公司 2025年第三次临时股东大会会议资料 上海皓元医药股份有限公司 2025年第三次临时股东大会会议须知 为维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证大会的 顺利进行，依据《中华人民共和国公司法》（以下简称"《公司法》"）《中华人民 共和国证券法》（以下简称"《证券法》"）《上市公司股东会 ...

Core Viewpoint - The impact of the U.S. "reciprocal tariffs" on Chinese pharmaceutical companies is limited, with many companies reporting normal operations and minimal effects on their business [1][2][4][7][12]. Group 1: Company Responses - Heng Rui Pharmaceutical reported that overseas sales account for only 2.56% of its revenue, indicating that U.S. tariffs have a minimal impact on its business [1]. - Han Yu Pharmaceutical stated that it has a diversified market presence across North America, Asia, Europe, and South America, which mitigates risks from single market policy changes [2]. - Bai Yang Pharmaceutical noted that its supply chain is globally diversified, and the impact of tariffs is minimal [3]. - WuXi AppTec acknowledged that tariffs will have some impact but emphasized their optimized supply chain and management practices to minimize effects [4]. - Kangtai Biological confirmed that it has no products exported to the U.S. and is focusing on markets along the Belt and Road [5]. Group 2: Industry Trends - The medical device industry in China is rapidly developing, with companies like Mindray Medical actively seeking alternatives for U.S. imported raw materials [5]. - Companies are increasingly focusing on domestic production and local supply chains to counteract potential tariff impacts [6][8]. - The vaccine industry in China is evolving, with companies like CanSino Biologics transitioning from followers to leaders in vaccine technology [8][9]. - The overall sentiment among Chinese pharmaceutical companies is that the current tariff situation presents an opportunity for domestic substitution and innovation [10][12].

Core Viewpoint - The company announced an adjustment to the conversion price of its convertible bonds "Haoyuan Convertible Bonds" from RMB 40.73 per share to RMB 40.58 per share, effective from May 14, 2025, due to the distribution of cash dividends [2][7][11]. Summary by Sections Convertible Bond Details - The company issued RMB 822.35 million of convertible bonds with a maturity of 6 years, and the initial conversion price was set at RMB 40.73 per share [2]. - The conversion period for the bonds is from June 4, 2025, to November 27, 2030 [2]. Adjustment Basis - The adjustment of the conversion price was approved during the board meeting on March 26, 2025, and the annual general meeting on April 18, 2025 [3]. - The total share capital for the dividend distribution was 210,959,781 shares, with 47,725 shares excluded due to performance compensation, resulting in 210,912,056 shares participating in the distribution [4]. Dividend Distribution - The company will distribute a cash dividend of RMB 1.50 per 10 shares, totaling RMB 31,636,808.40 (including tax) [4][17]. - The ex-dividend date is set for May 14, 2025, with the record date being May 13, 2025 [4][10]. Conversion Price Adjustment Method - The conversion price adjustment formula used was P1 = P0 - D, where P0 is the previous conversion price, and D is the cash dividend per share [8][11]. - The adjusted conversion price is calculated as follows: P1 = 40.73 - 0.14997 = 40.58 [11]. Other Information - The company will follow the regulations outlined in the prospectus regarding any future adjustments to the conversion price due to stock dividends, capital increases, or other equity changes [5][9].

| 证券代码：688131 | 证券简称：皓元医药 | 公告编号：2025-059 | | --- | --- | --- | | 转债代码：118051 | 转债简称：皓元转债 | | 上海皓元医药股份有限公司2024年年度权益分派 实施公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 本次利润分配不送红股、不以资本公积转增股本。 相关日期 | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2025/5/13 | 2025/5/14 | 2025/5/14 | 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经上海皓元医药股份有限公司（以下简称"公司"）2025 年 4 月 18 日的2024年年度股东大会审议通过。 二、 分配方案 是否涉及差异化分红送转：是 每股分配比例 每股现金红利0.15元（含税） 公司分别于 2025 年 3 月 26 日、2025 年 4 月 18 日召开第四届董事会第四次会 议、2024 年年度股东大会，审议通过 ...

Investment Rating - The report maintains a "Recommended" rating for the company [9] Core Views - The company's revenue for Q1 2025 reached 606 million yuan, representing a year-on-year increase of 20.05%, with a net profit attributable to shareholders of 62 million yuan, up 272.28% [4] - The front-end business, including molecular building blocks, tool compounds, and biological reagents, achieved revenue of 1.499 billion yuan in 2024, a growth of 32.41%, with a gross margin of 62.21%, reflecting improved revenue structure and profitability due to successful overseas sales and logistics initiatives [4][5] - The back-end business, which includes APIs, intermediates, and formulations, generated revenue of 755 million yuan in 2024, a modest increase of 2.49%, with a gross margin of 20.05%, indicating a more competitive environment [4][5] Financial Performance Summary - The company is projected to achieve revenues of 2.27 billion yuan in 2024, 2.73 billion yuan in 2025, and 3.28 billion yuan in 2026, with year-on-year growth rates of 20.8%, 20.2%, and 20.2% respectively [7] - Net profit is expected to rise from 202 million yuan in 2024 to 244 million yuan in 2025, and further to 333 million yuan in 2026, with corresponding year-on-year growth rates of 58.2%, 21.1%, and 36.4% [7] - The gross margin is anticipated to improve from 48.0% in 2024 to 51.4% by 2027, while the net margin is expected to increase from 8.9% to 11.3% over the same period [11] Capacity and Utilization - The company has seen an increase in utilization rates across its various bases, with several facilities, including the Hefei R&D center and Yantai base, now fully operational [6] - The Chongqing antibody-drug conjugate (ADC) base commenced production in Q1 2025, expanding the company's capabilities across the entire supply chain [6]

民生证券股份有限公司 关于上海皓元医药股份有限公司 差异化分红事项的核查意见 民生证券股份有限公司（以下简称"民生证券"或"本独立财务顾问"）作 为上海皓元医药股份有限公司（以下简称"皓元医药"、"上市公司"或"公司"） 发行股份及支付现金购买资产并募集配套资金暨关联交易的独立财务顾问，根据 《中华人民共和国公司法》《中华人民共和国证券法》《上海证券交易所上市公司 自律监管指引第 7 号——回购股份》《上海皓元医药股份有限公司章程》（以下简 称"《公司章程》"）等相关规定，对皓元医药 2024 年度利润分配所涉及的差异化 分红事项进行了核查，具体情况如下： 一、本次差异化分红的原因 皓元医药分别于 2025 年 3 月 26 日召开第四届董事会第四次会议、第四届监 事会第四次会议，2025 年 4 月 18 日召开 2024 年年度股东大会，审议通过了《关 于药源药物化学（上海）有限公司业绩承诺实现情况、业绩补偿方案暨拟回购注 销对应补偿股份的议案》，因发行股份及支付现金购买的标的资产未实现业绩承 诺，业绩承诺方需要对公司进行业绩补偿。根据公司与业绩承诺方 WANG YUAN （王元）、上海源盟企业管理咨询合 ...

Performance Overview - The company reported a total revenue of 606 million yuan for Q1 2025, representing a year-on-year increase of 20.05% [1] - The net profit attributable to shareholders reached 62.38 million yuan, showing a significant year-on-year growth of 272.28% [1] - The net profit excluding non-recurring items was 58.92 million yuan, with a year-on-year increase of 323.19% [1] Profitability - The gross margin improved to 48.58%, an increase of 19.08 percentage points compared to the same period last year [2] - The net profit margin was 10.09%, reflecting a year-on-year growth of 208.16%, indicating effective cost control [2] Expense Control - Total operating expenses (selling, administrative, and financial expenses) amounted to 132 million yuan, accounting for 21.74% of total revenue, a decrease of 0.71 percentage points from the previous year [3] Cash Flow and Debt Situation - The operating cash flow per share was -0.15 yuan, a decline of 181.8% year-on-year, indicating significant cash outflow pressure [4] - Total interest-bearing debt increased to 1.824 billion yuan, a year-on-year growth of 88.90%, suggesting potential repayment risks [4] Other Key Indicators - The net asset value per share was 13.44 yuan, down 20.53% year-on-year [5] - Earnings per share were 0.3 yuan, reflecting a year-on-year increase of 275.00% [5] - The cash balance was 1.067 billion yuan, up 139.54% compared to the same period last year, indicating improved liquidity [5]