Core Viewpoint - The announcement from Aopumai (688293.SH) regarding the resolutions from the 16th meeting of the second board of directors highlights significant disagreements, particularly from independent director Tao Hua'an, who opposed both key proposals related to asset acquisition and fundraising [1] Group 1: Meeting Outcomes - The board meeting was held on November 10, 2025, with all seven directors present [1] - The first proposal regarding the issuance of shares and cash for asset acquisition was approved with a vote of 6 in favor, 1 against, and 0 abstentions [1] - Independent director Tao Hua'an cast the only dissenting vote, stating that the company currently does not have a necessity for acquisitions [1] - The second proposal, related to fundraising, was passed with 6 votes in favor, 0 against, and 1 abstention [1] - Tao Hua'an also abstained from the second proposal for the same reasons as the first [1] Group 2: Proposal Details - The revisions to the proposals were prompted by the completion of asset valuation work by the appraisal agency on the identifiable net assets of the target company, Pengli Bio [1] - The company incorporated further review comments from the Shanghai Stock Exchange into the proposals [1] - Prior to the board meeting, the proposals had already been reviewed by the company's strategic committee, audit committee, and a special meeting of independent directors, and were authorized by the company's first extraordinary general meeting of 2025, thus not requiring further shareholder approval [1]

Core Viewpoint - The independent director of Aopumai, Tao Hua'an, voted against and abstained from two proposals related to the acquisition of 100% equity of Pengli Bio, indicating a lack of necessity for the merger at this stage [2][8]. Group 1: Acquisition Details - Aopumai plans to acquire 100% equity of Pengli Bio through a combination of issuing shares and cash payment, with a total transaction value of 14.505 billion yuan [5][6]. - The valuation of Pengli Bio's 100% equity is assessed at 14.52 billion yuan, and the company aims to raise 362 million yuan in supporting funds [6][10]. - Aopumai employs a "differentiated pricing" model for the acquisition, with 64.78% of Pengli Bio's equity priced at 1.007 billion yuan after negotiations [6][10]. Group 2: Strategic Implications - The acquisition is intended to enhance Aopumai's sales flow for cell culture products, improve customer loyalty, and gradually increase the capacity utilization of its CDMO (Contract Development and Manufacturing Organization) business [7]. - The strategic goal is to achieve synergy between cell culture products and CRDMO (Contract Research, Development, and Manufacturing) [7]. Group 3: Independent Director's Concerns - Tao Hua'an has consistently voted against or abstained from votes regarding the acquisition, citing that the company does not currently require a merger to achieve its primary objectives of improving cell culture product profitability and reducing CDMO losses [8][9]. - He expressed concerns that the acquisition would not directly enhance Aopumai's capacity utilization, which is critical for reversing the decline in CDMO performance [9].

Core Viewpoint - Aopu Mai announced its participation in establishing an industrial fund with a total fundraising target of 1 billion RMB, with the company planning to contribute up to 30 million RMB, representing a maximum of 30% of the fund's total size [2] Group 1 - The second board meeting and the fifth supervisory board meeting of Aopu Mai will be held on October 30, 2024, to review the proposal for participating in the establishment of the industrial fund [2] - The fund is tentatively named Shanghai Aochuang Qianjing Venture Capital Partnership (Limited Partnership) and is currently registered as Shanghai Aochuang Xiandao Venture Capital Partnership (Limited Partnership) [2] - Aopu Mai's wholly-owned subsidiary, Aopu Mai Biological Engineering, will act as a limited partner in the fund [2] Group 2 - The company has signed a partnership agreement with several entities, including Shanghai Tengxin Zhiyao Enterprise Management Consulting Partnership (Limited Partnership) and Shanghai Guotou Xiandao Biomedical Private Equity Investment Fund Partnership (Limited Partnership) [2] - The total fundraising scale of the fund is expected to reach 1 billion RMB [2] - Aopu Mai's investment will not exceed 30% of the total fund size, capped at 30 million RMB [2]

Core Viewpoint - The company Aopumai (688293.SH) announced plans to acquire 100% equity of Chengli Biopharmaceutical Technology (Shanghai) Co., Ltd. through a combination of share issuance and cash payment, with the transaction still subject to multiple approval processes, leading to uncertainty regarding its final implementation [1][2]. Group 1 - The company has completed the revision of its response to the inquiry letter from the Shanghai Stock Exchange regarding the transaction [1]. - The asset evaluation of Chengli Biopharmaceutical's identifiable net assets has been completed, prompting the company to supplement and revise parts of its response based on further feedback from the exchange [1]. - The revised response documents have been published on the Shanghai Stock Exchange's website [1]. Group 2 - The implementation of the transaction is contingent upon several prerequisites, including approval from the Shanghai Stock Exchange and registration consent from the China Securities Regulatory Commission [2]. - The company has emphasized the uncertainty surrounding the approval and registration timeline for the transaction [2]. - The company will adhere to legal and regulatory requirements for timely information disclosure based on the transaction's progress [2].

独立财务顾问 二零二五年十一月 关于上海奥浦迈生物科技股份有限公司 发行股份及支付现金购买资产并募集配套资金 的审核问询函的回复（修订稿） 上海证券交易所： 上海奥浦迈生物科技股份有限公司（以下简称"公司"或"奥浦迈"）于 2025 年 7 月 10 日收到上海证券交易所（以下简称"上交所"）下发的《关于上海奥浦 迈生物科技股份有限公司发行股份及支付现金购买资产并募集配套资金的审核 问询函》（上证科审（并购重组）〔2025〕24 号）（以下简称"《审核问询函》"）。 公司已会同国泰海通证券股份有限公司（以下简称"国泰海通"或"独立财务顾 问"）、上海市方达律师事务所（以下简称"律师事务所"或"法律顾问"或"律 师"）、立信会计师事务所（特殊普通合伙）（以下简称"立信会计师"或"会计 师事务所"或"会计师"）、上海东洲资产评估有限公司（以下简称"东洲评估" 或"评估机构"或"评估师"）进行了认真研究和落实，并按照问询函的要求在 《上海奥浦迈生物科技股份有限公司发行股份及支付现金购买资产并募集配套 资金报告书》（草案）中进行了补充披露，对所涉及的问题进行了回复，现提交 贵所，请予以审核。 除非文义另有所指，本问询 ...

证券代码：688293 证券简称：奥浦迈 上市地点：上海证券交易所 上海奥浦迈生物科技股份有限公司 发行股份及支付现金购买资产并募集配套 资金报告书（草案）（修订稿） | 项目 | 交易对方 | | --- | --- | | | PharmaLegacy Hong Kong Limited、嘉兴汇拓企业管理合伙企业 | | | （有限合伙）、红杉恒辰（厦门）股权投资合伙企业（有限合 | | | 伙）、宁波梅山保税港区谷笙澎立投资合伙企业（有限合伙）、 | | | TF PL LTD.、上海高瓴辰钧股权投资合伙企业（有限合伙）、杭 | | | 州泰格股权投资合伙企业（有限合伙）、南通东证富象股权投资 | | | 中心（有限合伙）、江西济麟鑫盛企业管理有限公司、中金启辰 | | | 贰期（苏州）新兴产业股权投资基金合伙企业（有限合伙）、嘉 | | | 兴合拓企业管理合伙企业（有限合伙）、苏州晨岭投资合伙企业 | | | （有限合伙）、德州两仪幂方康健创业投资合伙企业（有限合 | | | 伙）、平阳国凯股权投资合伙企业（有限合伙）、苏州一元幂方 | | 发行股份及支付现金购买资产 | 医药创业投资合伙企业（有限合 ...

上海东洲资产评估有限公司 关于上海奥浦迈生物科技股份有限公司 发行股份及支付现金购买资产并募集配套资金的审 核问询函回复的核查意见（修订稿） 上海东洲资产评估有限公司 二零二五年十一月 6-5-1 上海证券交易所： 上海东洲资产评估有限公司（以下简称"评估机构"）作为上海奥浦迈生 物科技股份有限公司（以下简称"奥浦迈"或"上市公司"）聘请的评估机构， 就贵所《关于上海奥浦迈生物科技股份有限公司发行股份及支付现金购买资产 并募集配套资金申请的审核问询函》（上证科审（并购重组）【2025】24号）（以 下简称《问询函》）有关问询事项，我们对其中提及与评估机构相关的问题进行 了逐项落实及核查，现将有关情况做出专项回复。 除非文义另有所指，本问询函回复中的简称与《上海奥浦迈生物科技股份有 限公司发行股份及支付现金购买资产并募集配套资金报告书（草案）》（以下简称 "重组报告书"）中的释义具有相同涵义。 本问询函回复部分表格中单项数据加总数与表格合计数可能存在微小差异， 均因计算过程中的四舍五入所形成。本问询回复的字体代表以下含义： | 问询函所列问题 | 黑体（加粗） | | --- | --- | | 对问题的答复 ...

国泰海通证券股份有限公司 关于上海奥浦迈生物科技股份有限公司 发行股份及支付现金购买资产并募集配套资金申请 的审核问询函回复之核查意见（修订稿） 独立财务顾问 二零二五年十一月 上海证券交易所： 按照贵所下发的《关于上海奥浦迈生物科技股份有限公司发行股份及支付现 金购买资产并募集配套资金的审核问询函》（上证科审（并购重组）〔2025〕24 号）（以下简称"审核问询函"）的要求，国泰海通证券股份有限公司（以下简称 "国泰海通"或"独立财务顾问"）作为上海奥浦迈生物科技股份有限公司（以 下简称"公司"、"上市公司"或"奥浦迈"）的独立财务顾问，就审核问询函所 列问题逐项进行了认真核查与落实，现就相关问题作出书面回复如下。 除非文义另有所指，本问询函回复中的简称与《上海奥浦迈生物科技股份有 限公司发行股份及支付现金购买资产并募集配套资金报告书（草案）》（以下简称 "重组报告书"）中的释义具有相同涵义。 本问询函回复部分表格中单项数据加总数与表格合计数可能存在微小差异， 均因计算过程中的四舍五入所形成。本问询回复的字体代表以下含义： | 问询函所列问题 | 黑体（加粗） | | --- | --- | | 对问题的答 ...

国泰海通证券股份有限公司 关于 上海奥浦迈生物科技股份有限公司 发行股份及支付现金购买资产并募集配套 资金 之 独立财务顾问报告 （修订稿） 独立财务顾问 签署日期：二〇二五年十一月 声明与承诺 本部分所使用的简称与本报告"释义"中所定义的简称具有相同含义。 国泰海通证券股份有限公司接受上海奥浦迈生物科技股份有限公司的委托， 担任上海奥浦迈生物科技股份有限公司发行股份及支付现金购买资产并募集配 套资金的独立财务顾问，就该事项向上海奥浦迈生物科技股份有限公司全体股东 提供独立意见，并制作本独立财务顾问报告。 本独立财务顾问报告是依据《中华人民共和国公司法》《中华人民共和国证 券法》《上市公司重大资产重组管理办法》《上市公司并购重组财务顾问业务管 理办法》《公开发行证券的公司信息披露内容与格式准则第 26 号——上市公司 重大资产重组》《上海证券交易所上市公司自律监管指引第 6 号—重大资产重组》 等法律、法规的有关规定，按照证券行业公认的业务标准、道德规范和诚实信用、 勤勉尽责精神，遵循客观、公正的原则，在认真审阅相关资料和充分了解本次交 易行为的基础上，发表独立财务顾问意见，旨在就本次交易做出独立、客观和公 ...

| 页次 | 目录 | | --- | --- | | 备考审阅报告 | 1-2 | | 备考财务报表 | Í | | 备考合并资产负债表 | 1-2 | | 备考合并利润表 | 3 | | 备考合并财务报表附注 | 1-121 | | 资产 | | 2025.6.30 | 2024.12.31 | 2023.12.31 | | --- | --- | --- | --- | --- | | 流动资产: | | | | | | 货币资金 | (一) | 725,361,552.39 | 1,190,927,176.39 | 1,508,324,273.42 | | 结算备付金 | | | | | | 抚出资金 | | | | | | 交易性金融资产 | (二) | 440,036,367.99 | 358,081,124.67 | 148,748,212.60 | | 衍生金融资产 | | | | | | 应收票据 | (三) | 7,892,991.74 | 9,198,057.30 | 5,054,766.91 | | 应收账款 | (四) | 215,943,331.87 | 190,083,952.1 ...