Core Viewpoint - The legal opinion letter issued by King & Wood Mallesons confirms that Shanghai Kehua Bio-engineering Co., Ltd. can proceed with the repurchase of its convertible bonds under specific conditions outlined in the relevant regulations and the offering prospectus [1][9]. Group 1: Legal Framework and Compliance - The legal opinion is based on the Company Law, Securities Law, and relevant regulations, ensuring that the facts presented are true, accurate, and complete [2][3]. - King & Wood Mallesons has conducted thorough verification of the documents related to the bond repurchase, ensuring compliance with legal standards [2][3]. Group 2: Convertible Bond Issuance and Approval - The company received approval from the China Securities Regulatory Commission (CSRC) to issue convertible bonds totaling 738 million yuan, with a maturity of six years [6][7]. - The bonds were listed on the Shenzhen Stock Exchange on August 20, 2020, under the name "Kehua Convertible Bonds" [7]. Group 3: Repurchase Conditions - The offering prospectus stipulates that bondholders can sell their bonds back to the company if the stock price falls below 70% of the conversion price for 30 consecutive trading days during the last two interest periods [8][9]. - The company’s stock price was below the specified threshold of 14.45 yuan per share for the required period, thus triggering the repurchase conditions [8][9]. Group 4: Conclusion and Recommendations - The legal opinion concludes that the company can repurchase the convertible bonds as per the established conditions, provided that the repurchase announcement and results are properly disclosed [9].

Core Viewpoint - The company, Shanghai Kehua Bio-engineering Co., Ltd., has received a stable credit rating from United Credit Ratings, despite reporting significant losses in its recent semi-annual report due to industry challenges and policy changes [2][3]. Group 1: Credit Rating - United Credit Ratings assigned an individual credit rating of a+ and a long-term credit rating of A+ to the company, with a stable outlook [2]. - The ratings for the company's issued bonds are also A+, with the ratings valid for the duration of the bonds [2]. Group 2: Financial Performance - The company reported a significant decline in revenue and gross profit, with a year-on-year decrease of 209.76% as per the semi-annual report disclosed on August 27, 2025 [2][3]. - Contributing factors to the losses include intensified industry competition due to ongoing policy reforms, leading to decreased demand for certain testing projects and a drop in product prices [3]. - The company has maintained its R&D expense ratio at the same level as the previous year and has increased marketing investments to expand its domestic and international market presence [3]. Group 3: Asset Management - The company has made provisions for impairment risks on accounts receivable, inventory, and fixed assets, which negatively impacted profits [3]. - As of June 30, 2025, the company had cash reserves of 818 million, providing a high coverage level for the "Kehua Convertible Bond" balance, indicating that the recent losses are not expected to significantly affect the long-term credit rating [3].

Core Viewpoint - The company announces the conditional redemption of its convertible bonds due to the stock price falling below a specified threshold, allowing bondholders to sell their bonds back to the company at a predetermined price [1][2][3]. Redemption Overview - The company’s stock price has been below 70% of the conversion price (14.45 CNY) for 30 consecutive trading days, triggering the conditional redemption clause for the "Kehua Convertible Bonds" [1]. - The redemption price is set at the face value plus accrued interest, calculated to be 100.241 CNY per bond, including tax [3][4]. Redemption Conditions - Bondholders can exercise their redemption rights once per year during the last two interest payment years if the conditions are met [2]. - The accrued interest is calculated using the formula: IA = B × i × t / 365, where B is the total face value of the bonds, i is the annual coupon rate (2.00%), and t is the number of days from the last interest payment to the redemption application period [2]. Tax Implications - Individual investors and securities investment funds will have a 20% tax withheld on interest income, resulting in a net redemption amount of 100.193 CNY per bond [3]. - Qualified foreign institutional investors (QFII and RQFII) are exempt from income tax, receiving the full redemption amount of 100.241 CNY [3]. Redemption Procedure - The company will announce the redemption details on the trading day following the triggering of the redemption conditions, with daily reminders until the end of the redemption period [5]. - Bondholders must submit their redemption applications through the Shenzhen Stock Exchange between September 10 and September 16, 2025, with the ability to cancel applications on the same day [6]. Trading and Conversion During Redemption Period - The "Kehua Convertible Bonds" will continue to trade during the redemption application period but will not allow conversion into shares [6]. - If bondholders submit multiple requests (trading, transfer, conversion, redemption) on the same day, they will be processed in a specific order: trading, redemption, conversion, and transfer [6].

Group 1 - The company issued 7.38 million convertible bonds with a total amount of 738 million yuan, which began trading on August 20, 2020 [1] - The convertible bonds, named "Kehua Convertible Bonds," can be converted into company shares starting from February 3, 2021 [1] - The bonds are currently in the conversion period [1] Group 2 - From July 28, 2025, to September 5, 2025, the company's stock price closed below 70% of the conversion price, triggering the conditional repurchase clause for the convertible bonds [2] - The company has applied to suspend the conversion of the bonds during the repurchase declaration period, starting from September 10, 2025, for five trading days [2] - The trading of the convertible bonds will continue normally during the suspension period [2]

| 证券代码：002022 | 证券简称：科华生物 | 公告编号：2025-048 | | --- | --- | --- | | 债券代码：128124 | 债券简称：科华转债 | | 上海科华生物工程股份有限公司 关于"科华转债"回售的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1、回售价格：100.241 元人民币/张（含息、税） 2、回售条件触发日：2025 年 9 月 5 日 3、回售申报期：2025 年 9 月 10 日至 2025 年 9 月 16 日 4、发行人资金到账日：2025 年 9 月 19 日 5、回售款划拨日：2025 年 9 月 22 日 6、投资者回售款到账日：2025 年 9 月 23 日 7、回售申报期内停止转股 8、本次回售不具有强制性 9、在回售款划拨日之前，如已申报回售的可转换公司债券发生司法冻结或 扣划等情形，债券持有人本次回售申报业务失效。 10、风险提示：投资者选择回售等同于以 100.241 元人民币/张（含息、税） 卖出持有的"科华转债"。截至目前，"科华转债"的收盘价格高于本次回售价 ...

上海科华生物工程股份有限公司 关于回售期间"科华转债"暂停转股的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 | 证券代码：002022 | 证券简称：科华生物 | | | --- | --- | --- | | 债券代码：128124 | 债券简称：科华转债 | 公告编号：2025-049 | 经中国证券监督管理委员会"证监许可［2020］970 号"文核准，上海科华 生物工程股份有限公司（以下简称"公司"）于2020年7月28日公开发行了738.00 万张可转换公司债券，每张面值 100 元，发行总额 73,800.00 万元，期限 6 年。 经深圳证券交易所"深证上[2020]731 号"文同意，公司 73,800.00 万元可转债 于 2020 年 8 月 20 日起在深圳证券交易所挂牌交易，债券简称"科华转债"，债 券代码"128124"。"科华转债"自 2021 年 2 月 3 日起可转换为公司股份，目前 "科华转债"处于转股期。 公司股票自 2025 年 7 月 28 日至 2025 年 9 月 5 日连续 30 个交易日的收盘价 格低于 ...

联合〔2025〕9130 号 联合资信评估股份有限公司关于上海科华生物工程股份有限公司 2025 年半年度亏损的关注公告 针对上述事项，联合资信已与公司取得联系并了解相关情况，截至 2025 年 6 月底，公司货币 资金 8.18 亿元，对"科华转债"债券余额的覆盖程度很高，联合资信认为公司 2025 年半年度报告 亏损暂不会对公司主体长期信用产生重大不利影响。综合评估，联合资信决定维持公司个体信用状 况为 a +，主体长期信用等级为 A+，上述债项信用等级为 A+，评级展望为稳定。 特此公告 联合资信评估股份有限公司 二〇二五年九月五日 受上海科华生物工程股份有限公司（以下简称"公司"）委托，联合资信评估股份有限公司（以 下简称"联合资信"）对公司及其发行的相关债项进行了信用评级。除评级委托关系外，联合资信、 评级人员与公司不存在任何影响评级行为独立、客观、公正的关联关系。 根据联合资信最近的评级结果，公司个体信用等级为 a +，公司主体长期信用等级为 A+，评级展 望为稳定；公司委托联合资信评级的相关债项评级结果详见下表，评级有效期为相关债项存续期。 表 1 截至本公告出具日公司委托联合资信进行信用评级的 ...

北京市金杜（广州）律师事务所 关于 上海科华生物工程股份有限公司 可转换公司债券回售的法律意见书 二〇二五年九月 北京市金杜（广州）律师事务所 关于 上海科华生物工程股份有限公司 可转换公司债券回售的法律意见书 致：上海科华生物工程股份有限公司 北京市金杜（广州）律师事务所（以下简称"金杜"或"本所"）受上海科华生物 工程股份有限公司（以下简称"科华生物"或"公司"）委托，根据《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》"）、《可转换公司债券管理办法》（以下简称"《管理办法》"）、《深圳 证券交易所上市公司自律监管指引第 15 号——可转换公司债券》（以下简称"《监 管指引》"）等相关法律、法规、规范性文件及深圳证券交易所（以下简称"深交 所"）业务规则，以及《上海科华生物工程股份有限公司公开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，就公司已发行的可转换公司 债券（以下简称"可转债"）进行回售（以下简称"本次回售"）的相关事宜出具本法 律意见书。 根据公司公开披露信息，2019 年 7 月 8 日，公司召开第七届董事会第二十 ...

中信证券股份有限公司关于 上海科华生物工程股份有限公司 可转换公司债券回售有关事项的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐机构"）作为上海 科华生物工程股份有限公司（以下简称"科华生物"或"公司"）公开发行可转 换公司债券的保荐机构，根据《证券发行上市保荐业务管理办法》《深圳证券交 易所股票上市规则》《深圳证券交易所上市公司自律监管指引第1号——主板上市 公司规范运作》《深圳证券交易所上市公司自律监管指引第15号——可转换公司 债券》等法律、法规和规范性文件的规定，对科华生物可转换公司债券（以下简 称"科华转债"）回售有关事项进行了核查，核查情况和核查意见如下： （一）回售条款 公司在《募集说明书》中约定的有条件回售条款具体如下： 1 "在本次发行的可转债的最后两个计息年度，如果公司股票在任何连续30个 交易日的收盘价格低于当期转股价格的70%时，可转债持有人有权将其持有的 可转债全部或部分按面值加当期应计利息的价格回售给公司。若在上述交易日内 发生过转股价格因发生送红股、转增股本、增发新股、配股或派发现金股利等情 况（不包括因本次发行的可转债转股增加的股本）而调整的情形，则在调整前的 ...

Core Viewpoint - The company has developed a "three-line integration" product matrix for its biochemical immunoassay production line, catering to various market needs and hospital levels [2] Group 1: Product Offerings - The company offers the mini LAS production line, targeting grassroots inspection departments and capable of serving emergency departments in large hospitals [2] - The LAS Pro biochemical immunoassay production line is designed for secondary hospitals and above [2] - The company provides compatible production line supporting products and services for hospitals with broader online needs, specifically targeting secondary hospitals and above [2] Group 2: Market Strategy - The "three-line integration" approach addresses different application scenarios, allowing for customized and personalized user requirements [2] - The company has already installed its biochemical immunoassay production lines in multiple hospitals [2] - The company plans to leverage its comprehensive sales network and service system to actively expand its market presence in the biochemical immunoassay production line sector [2]