格隆汇9月29日丨瑞普生物(300119.SZ)公布，公司拟将"华南生物大规模悬浮培养车间建设项目"全部拟 投入募集资金1.60亿元及"中岸生物改扩建项目"中节余募集资金1.15亿元及上述两个项目孳息2,082.31万 元变更用于"生物制造产业化工程建设项目"。新募投项目实施主体为公司及全资子公司天津瑞狮生物科 技有限公司（以下简称"天津瑞狮"），实施地点为天津市天津港保税区临港片区，项目总投资为6.79亿 元，其中，募集资金投资2.96亿元（含扣除手续费后的理财收益、利息收入2,082.31万元，具体以银行 转出金额为准），其余部分以自有资金或自筹资金注入。 ...

关于瑞普生物股份有限公司 中国银河证券股份有限公司 变更部分募集资金用途 的核查意见 瑞普生物股份有限公司（以下简称"公司""瑞普生物"）于 2025 年 9 月 28 日 召开第五届董事会第二十七次（临时）会议，审议通过了《关于变更部分募集资金用 途的议案》，同意公司变更 2021 年向特定对象发行股票部分募集资金投资项目用途， 用于建设"生物制造产业化工程建设项目"，该议案已经公司第五届监事会第二十三 次（临时）会议审议通过，尚需提交公司股东大会审议。 中国银河证券股份有限公司（以下简称"银河证券"或"保荐人"）作为瑞普生 物 2021 年度向特定对象发行股票的保荐人，根据《证券发行上市保荐业务管理办法 （2025 修正）》《深圳证券交易所创业板股票上市规则（2025 年修订）》《深圳证 券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作（2025 年修订）》 《上市公司募集资金监管规则》等相关规定，对公司变更部分募集资金用途事项进行 了审慎核查，具体核查情况和核查意见如下： 一、改变募集资金投资项目的概述 （一）募集资金基本情况 经中国证券监督管理委员会于 2021 年 9 月 10 日下 ...

证券代码：300119 证券简称：瑞普生物 公告编号：2025-076 瑞普生物股份有限公司（以下简称"公司""瑞普生物"）于 2025 年 9 月 28 日召开第五届董事会第二十七次（临时）会议，审议通过了《关于变更部分 募集资金用途的议案》，同意公司变更 2021 年向特定对象发行股票部分募集资 金投资项目用途，用于建设"生物制造产业化工程建设项目"，该议案尚需提交 公司股东大会审议。 现将具体情况公告如下： 一、改变募集资金投资项目的概述 （一）募集资金基本情况 经中国证券监督管理委员会于 2021 年 9 月 10 日下发的《关于同意天津瑞普 生物技术股份有限公司向特定对象发行股票注册的批复》（证监许可〔2021〕2974 号），同意公司向特定对象发行人民币普通股（A 股）63,984,674 股，发行价格 为人民币 20.88 元/股，募集资金总额为人民币 1,335,999,993.12 元，扣除各项发 行 费 用 （ 不 含 税 ） 人 民 币 13,979,522.73 元 后 ， 募 集 资 金 净 额 为 人 民 币 1,322,020,470.39 元。 上述募集资金于 2021 年 1 ...

证券代码：300119 证券简称：瑞普生物 公告编号：2025-077 瑞普生物股份有限公司 关于召开 2025 年第五次临时股东大会的通知 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。 一、本次股东大会召开的基本情况 1、股东大会届次：2025年第五次临时股东大会 2、会议召集人：经公司第五届董事会第二十七次（临时）会议审议通过， 公司董事会决定召开2025年第五次临时股东大会。 3、会议召开的合法、合规性：本次股东大会的召集程序符合有关法律、行 政法规、部门规章、规范性文件和《公司章程》的规定。 4、会议召开时间： 5、会议的召开方式：本次股东大会采取现场投票与网络投票相结合的方式。 现场会议召开时间：2025 年 10 月 15 日（星期三）14:30 （1）现场投票：包括本人出席及通过填写授权委托书授权他人出席。 网络投票时间为： （2）网络投票：公司将通过深圳证券交易所交易系统和互联网投票系统向 股东提供网络形式的投票平台，公司股东应在本通知列明的有关时限内通过深圳 证券交易所的交易系统或互联网投票系统进行网络投票。 通过深圳证券交易所交易系统进行 ...

Core Viewpoint - The company plans to allocate a total of 160 million yuan from the "South China Biological Large-Scale Suspension Culture Workshop Construction Project" and 115 million yuan from the surplus funds of the "Zhong'an Biological Renovation and Expansion Project" to the "Biomanufacturing Industrialization Engineering Construction Project" [1] Group 1 - The total investment for the new project is 679 million yuan, with 296 million yuan sourced from raised funds [1] - The implementation entities for the new investment project are the company and its wholly-owned subsidiary, Tianjin Ruishi Biotechnology Co., Ltd [1] - The project will be located in the Tianjin Port Free Trade Zone, Lingang area [1] Group 2 - The raised funds include 20.8231 million yuan from financial management income and interest income [1] - The remaining investment will be funded through the company's own funds or self-raised funds [1]

证券代码：300119 证券简称：瑞普生物 公告编号：2025-075 瑞普生物股份有限公司 第五届监事会第二十三次（临时）会议决议公告 本公司及监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。 一、监事会会议召开情况 瑞普生物股份有限公司（以下简称"公司"）第五届监事会第二十三次（临 时）会议于 2025 年 9 月 28 日在公司会议室以现场表决方式召开。会议通知于 2025 年 9 月 26 日以书面及电子邮件等方式送达全体监事。公司应出席监事 3 人， 实际出席监事 3 人，参与表决监事 3 人。本次会议由监事会主席周仲华先生主持。 本次会议的召集、召开和表决程序符合《公司法》《证券法》等法律法规和《公 司章程》的规定。 二、监事会会议审议情况 1、审议通过了《关于变更部分募集资金用途的议案》 经审议，监事会认为公司本次变更募集部分资金用途事项符合《上市公司募 集资金监管规则》及《深圳证券交易所上市公司自律监管指引第2号——创业板 上市公司规范运作》等相关规定，有利于提升募集资金使用效率，不存在损害股 东特别是中小股东利益的情况。该事项决策和审议程序合法、合规， ...

瑞普生物股份有限公司 第五届董事会第二十七次（临时）会议决议公告 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。 一、董事会会议召开情况 瑞普生物股份有限公司（以下简称"公司"）第五届董事会第二十七次（临 时）会议于 2025 年 9 月 28 日在公司会议室以现场结合通讯表决方式召开。会议 通知于 2025 年 9 月 26 日以书面及电子邮件等方式送达全体董事。公司应出席董 事 9 人，实际出席董事 9 人（其中：董事杨鶄、李睿，独立董事才学鹏、郭春林 以通讯方式参会），参与表决董事 9 人。本次会议由董事长李守军先生主持，公 司高级管理人员列席了会议。本次会议的召集、召开和表决程序符合《公司法》 《证券法》等法律法规和《公司章程》的规定。 二、董事会会议审议情况 1、审议通过了《关于变更部分募集资金用途的议案》 经审议，为加快推进公司在生物制造领域的战略布局，提升募集资金使用效 率，切实维护股东利益，董事会同意公司将"华南生物大规模悬浮培养车间建设 项目"全部拟投入募集资金 1.60 亿元及"中岸生物改扩建项目"中节余募集资 金 1.15 亿元及上述两个 ...

Group 1 - The core point of the article is that Reap Bio (SZ 300119) held a temporary board meeting on September 28, 2025, to discuss the proposal for the fifth temporary shareholders' meeting of 2025 [1] - For the year 2024, Reap Bio's revenue composition is as follows: 43.12% from veterinary biological products, 33.86% from veterinary drugs, 20.63% from pet supply chain, and 2.38% from other sources [1] - As of the report date, Reap Bio has a market capitalization of 9.7 billion yuan [1] Group 2 - The article mentions a competitive scenario where Farmer's Green Bottle was launched, leading to a significant decline in market share for Yibao, dropping nearly 5 percentage points [1]

Summary of the Pet Medical Industry Conference Call Industry Overview - The pet market in China is expanding, with the urban dog and cat consumption market expected to exceed 300 billion yuan in 2024, with an average annual spending of over 2,000 yuan per pet driven by demographic changes, single economy, aging population, and consumption upgrades [1][2] Key Drivers of Pet Medical Market - The pet medical market is primarily driven by: - Aging pets, with 27% of dogs and 18% of cats over 6 years old, incurring annual medical costs of 2,400 yuan, double that of younger pets [3][4] - Expansion of disease spectrum requiring more specialized treatments [4] - Increased awareness of preventive medicine, with a significant rise in vaccine and deworming product consumption [4] Growth of Pet Hospitals - The number of pet hospitals in China has significantly increased from 13,000 in 2014 to 34,000 in 2024, with a slowdown in growth rate observed in recent years [5] - The expansion is more pronounced in lower-tier cities, with first-tier cities showing a 12% growth rate, while new first-tier, second-tier, and third-tier cities have growth rates of 17% and over 20% respectively [5][7] - The chain rate of pet hospitals has increased from 5% in 2017 to 25% in 2024 [5] Competitive Landscape - The market share of leading chain veterinary hospitals remains low, with the top three brands (New Ruipeng, Ruipai, and New Rui Rui Chen) holding only 7% of the market [6] - Increased competition has led these top institutions to enhance their customer acquisition capabilities [6] Current Challenges in the Industry - Overall customer spending per visit has slightly decreased, while the profit margin has narrowed, with the loss ratio increasing to 26% [8] - The industry faces significant challenges, including a shortage of qualified veterinary professionals [8] Characteristics of Pet Owners - The pet owner demographic is becoming younger and more professional, with a focus on high-quality care and a willingness to invest in their pets' health [9] - Pet owners are increasingly informed and expect high standards in veterinary services [9] Regulatory and Economic Support - The development of the pet medical industry is supported by policies, capital investment, and a favorable economic environment [10] - The introduction of regulations has improved industry standards and reduced the shortage of veterinary medicines [10] Future Trends - The pet medical market is expected to evolve towards standardization, specialization, digitalization, and localization [11] - Addressing the needs of aging pets and the last-mile issues in lower-tier markets will be crucial for future growth [11] Notable Companies to Watch - Companies with core competencies in preventive medicine and elderly pet care, such as Ruipeng Bio, and those excelling in R&D like Keqian Bio, Laike Bio, and Zhongmu Bio, are recommended for attention [13]

Investment Rating - The report maintains a "Positive" investment rating for the agriculture industry [5] Core Viewpoints - The pig farming sector is expected to see a long-term performance improvement due to ongoing capacity reduction driven by both policy and market forces, with key companies continuing to show profitability and increasing dividend rates [3][46] - The current prices for fat pigs and piglets have dropped significantly, leading to widespread losses in the industry, which may trigger a market-driven capacity reduction [3][12] - The planting sector is showing positive fundamentals with an established upward trend in grain prices, highlighting significant investment opportunities [3][46] Summary by Relevant Sections Industry Fundamentals - Pig prices continue to decline, with the average price for fat pigs at 12.45 yuan/kg, down 1.81% week-on-week, and piglet prices at 21.29 yuan/kg, down 4.81% week-on-week [12][54] - The average weight of pigs at slaughter is stabilizing, but the pressure from capacity release continues, leading to a sustained decline in prices [12] Investment Recommendations - The report recommends focusing on the pig farming sector, highlighting companies such as Muyuan Foods (002714) and Wens Foodstuff Group (300498) as key investment targets [3][46] - For the post-cycle sector, rising pig inventory is expected to boost demand for feed and animal health products, with companies like Haida Group (002311) and Reap Bio (300119) identified as potential beneficiaries [3][46] - In the planting chain, companies like Suqian Agricultural Development (601952) and Beidahuang (600598) are noted for their favorable investment outlook due to rising grain prices [3][46] - The pet food sector is also highlighted for its growth potential, with companies like Guibao Pet (301498) and Zhongchong Co. (002891) recommended for investment [3][46] Market Performance - The agriculture sector underperformed the market, with the agricultural index down 1.97% during the week, compared to a 0.21% increase in the Shanghai Composite Index [48][49] - Key sub-sectors such as feed, animal health, and livestock farming all experienced declines, with livestock farming down 2.14% [48]