Core Viewpoint - Aotai Biologics announced the completion of the stock registration for its 2022 restricted stock incentive plan, marking a significant step in its employee incentive strategy [2] Group 1 - The company received a confirmation letter from the Shanghai branch of China Securities Depository and Clearing Corporation on September 12, 2025 [2] - The number of shares vested in this phase is 438,890 shares [2] - The shares were sourced from the company's repurchase of its A-share common stock in the secondary market [2]

证券代码：688606 证券简称：奥泰生物 公告编号：2025-040 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： 根据中国证券监督管理委员会、上海证券交易所、中国证券登记结算有限责 任公司上海分公司有关业务规则的规定，杭州奥泰生物技术股份有限公司（以下 简称"公司"）于 2025 年 9 月 12 日收到中国证券登记结算有限责任公司上海分 公司出具的《过户登记确认书》，完成了公司 2022 年限制性股票激励计划（以 下简称"本次激励计划"）首次授予第三个归属期及预留授予第二个归属期归属 的股份登记工作。现将有关情况公告如下： 一、本次限制性股票归属的决策程序及相关信息披露 杭州奥泰生物技术股份有限公司 关于 2022 年限制性股票激励计划首次授予第三个归 属期及预留授予第二个归属期归属结果的公告 （一）2022 年 6 月 27 日，公司召开第二届董事会第十五次会议，审议通过 了《关于<杭州奥泰生物技术股份有限公司 2022 年限制性股票激励计划（草案） 及其摘要>的议案》《关于<杭州奥泰生物技术股份 ...

Group 1 - The company, Aotai Biological, has nearly 100 animal/pet testing products and has been actively selling in international markets [1] - The company recognizes the significant potential of the domestic pet market and has begun to actively develop its business in this area [1]

Group 1 - The company is committed to delivering strong performance, maintaining good corporate governance, and providing positive returns to investors [1] - The company emphasizes its responsibility and obligations as a publicly listed entity, aiming to reward the trust of its investors [1]

格隆汇9月11日丨奥泰生物(688606.SH)在互动平台表示，公司专注于体外诊断行业中的POCT细分领 域，主营业务为体外快速诊断试剂的研发、生产和销售，主要产品为体外快速诊断试剂。公司目前暂未 考虑投资原料药、创新药领域。 ...

格隆汇9月11日丨奥泰生物(688606.SH)在互动平台表示，公司专注于体外诊断行业中的POCT细分领 域，主营业务为体外快速诊断试剂的研发、生产和销售，主要产品为体外快速诊断试剂。公司目前暂未 考虑投资原料药、创新药领域。 ...

Group 1 - The company, Aotai Biological (688606.SH), currently has nearly 100 animal/pet testing products and has been actively selling in international markets [1] - The company places significant emphasis on the vast potential of the domestic pet market and has begun to actively develop its domestic pet market business [1]

Core Insights - The company held a performance briefing for the first half of 2025, focusing on advancements in cutting-edge technology platforms such as fluorescence, biochemistry, and chemiluminescence to enhance competitiveness in the high-end IVD market [1] - The chemiluminescence platform, a core technology for immunodiagnostics, is being prioritized by the company, which is enhancing its existing chemiluminescence reagent menu and upgrading its POCT chemiluminescence platform [1] - A new generation of chemiluminescence immunoassay analyzers was successfully developed in the first half of 2025, achieving international leading levels in detection speed, sensitivity, and the number of detectable items, catering to diverse clinical testing needs [1] - A series of chemiluminescent diagnostic reagents developed alongside the new analyzer have reached significant milestones, with some products currently in the registration process and set to enter the market soon [1] - These technological breakthroughs and upgrades are expected to lay a solid foundation for the company's future development in the high-end IVD market, potentially creating new profit growth points in the second half of the year and beyond [1]

Financial Performance - The company reported a total revenue of 430 million yuan for the first half of 2025, representing an increase of 8.41% year-on-year [1] - The net profit attributable to shareholders was 132 million yuan, up 6.57% compared to the previous year [1] - In Q2 2025, total revenue reached 221 million yuan, showing a year-on-year increase of 12.61%, while net profit for the same period was 70.8 million yuan, down 10.49% [1] Cost and Profitability Metrics - The gross margin for the company was 56.51%, an increase of 2.74% year-on-year, while the net margin was 30.73%, a decrease of 1.36% [1] - The total of financial, sales, and administrative expenses amounted to 59.9 million yuan, accounting for 13.95% of total revenue, which is a 32.3% increase year-on-year [1] - Earnings per share (EPS) increased to 1.67 yuan, reflecting a year-on-year growth of 7.05% [1] Asset and Liability Management - The company’s cash and cash equivalents increased to 1.11 billion yuan, a rise of 13.41% year-on-year [1] - Accounts receivable rose to 152 million yuan, marking a significant increase of 37.10% [1] - Interest-bearing liabilities decreased to 2.67 million yuan, down 40.53% year-on-year [1] Investment and Market Position - The company's return on invested capital (ROIC) was reported at 6.92%, indicating average capital returns [3] - The company has a strong cash position, which enhances its debt repayment capability [3] - A notable fund manager, Xu Muhao from Taixin Fund, has increased his holdings in the company, indicating positive market sentiment [3] Fund Holdings - The largest fund holding the company’s shares is Penghua Hongjia Mixed A, which has increased its position [4] - Other funds have shown varied movements, with some increasing their holdings while others have reduced them [4] - The fund managed by Xu Muhao has a total scale of 385 million yuan and ranks among the top fifty in the public fund manager list [3]

Core Viewpoint - The report outlines the independent financial advisory opinion regarding the 2024 restricted stock incentive plan of Hangzhou Aotai Biotechnology Co., Ltd, confirming that the plan has received necessary approvals and meets regulatory requirements [1][13]. Summary by Sections Definitions - The report defines key terms related to the incentive plan, including "independent financial advisor," "restricted stock," "grant date," and "vesting conditions," among others [1][2]. Approval Procedures - The company held several meetings to approve the incentive plan, including the third board meeting on September 2, 2024, and the second extraordinary shareholders' meeting on September 18, 2024, where the plan was reviewed and approved [4][5][6]. Grant Conditions - The report specifies that the grant of restricted stock is contingent upon the company and the incentive recipients meeting certain conditions, including no adverse audit opinions and compliance with relevant laws [6][11]. Grant Details - The grant date for the restricted stock is set for August 29, 2025, with a total of 188,000 shares to be granted, representing 0.24% of the company's total share capital, at a price of 26.2993 RMB per share [7][10]. Vesting Schedule - The vesting of the restricted stock will occur in two phases: 50% after 12 months and the remaining 50% after 24 months, with specific conditions outlined for each vesting period [8][9]. Performance Assessment - The performance assessment for the incentive plan will be based on revenue and product registration targets for the years 2025 and 2026, with specific thresholds set for both domestic and FDA product registrations [11]. Financial Impact - The report notes that the implementation of the incentive plan will be accounted for in accordance with relevant accounting standards, and shareholders are advised to consider potential dilution effects [13]. Conclusion - The independent financial advisor concludes that the incentive plan has met all necessary conditions and approvals, aligning with regulatory requirements and the company's governance framework [13].