Group 1 - The company held its 30th meeting of the 5th Board of Directors on July 30, 2025, via telecommunication, with all 10 directors present, confirming compliance with legal and regulatory requirements [1] - The Board approved the signing of an amendment to the Exclusive Sublicense Agreement with Notitia Biotechnologies Company, granting the company exclusive rights to develop, manufacture, and commercialize core microbiome analysis, microbiome-targeted transplantation, and nutritional formula technologies in mainland China, Hong Kong, and Macau for non-patient populations [1][2] - The Board also approved the application for credit facilities from several banks, including China Construction Bank, China Merchants Bank, Agricultural Bank of China, and others, to support the company's and its subsidiaries' research, production, sales, and daily operational expenses [2][6] Group 2 - The approved credit facilities will include comprehensive credit, working capital loans, project loans, bank acceptance bills, and guarantees, all of which will be unsecured [3][4][5] - The financial department is authorized to determine financing methods, amounts, terms, and interest rates within the approved credit limits, with legal representatives signing relevant contracts and documents [6]

证券代码：300142 证券简称：沃森生物 公告编号：2025-037 云南沃森生物技术股份有限公司 本公司及监事会全体成员保证信息披露内容的真实、准确和完 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 云南沃森生物技术股份有限公司（以下简称"公司"）第五届监事会第二十一 次会议于 2025 年 7 月 30 日以通讯表决的方式召开，会议通知于 7 月 27 日以电子 邮件方式发出。本次会议应参会监事 3 人，实际参加会议监事 3 人。会议由监事 会主席丁世青女士主持。本次会议的召集、召开符合《公司法》及《公司章程》 的规定。 二、监事会会议审议情况 审议通过了《关于公司及子公司向银行申请授信额度的议案》 监事会同意公司及子公司玉溪沃森生物技术有限公司（以下简称"玉溪沃 森"）、玉溪泽润生物技术有限公司（以下简称"玉溪泽润"）根据业务发展及 日常运营需要，向中国建设银行股份有限公司玉溪市分行（以下简称"建设银行"）、 招商银行股份有限公司昆明分行（以下简称"招商银行"）、中国农业银行股份 有限公司玉溪分行（以下简称"农业银行"）、中国光大银行股份有限公司昆明 分行（以下简称"光大银行"）、 ...

Core Viewpoint - Yunnan Watson Bio-Technology Co., Ltd. has signed an amendment to the exclusive sublicense agreement with Notitia Biotechnologies Company to expand its development and commercialization rights in the field of gut microbiota health targeting non-patient populations, aligning with national health strategies [1][2]. Group 1: Agreement Details - The amendment allows Watson Bio to exclusively develop, manufacture, and commercialize core microbiota analysis, targeted transplantation, and nutritional formula technologies in mainland China, Hong Kong, and Macau for non-patient populations [1][2]. - The agreement aims to establish a dual-track layout of "disease treatment intervention" and "chronic disease prevention + health nutrition," providing comprehensive health solutions [1][2]. - The amendment does not constitute a related party transaction or a major asset restructuring as defined by regulations [1][2]. Group 2: Financial Terms - Watson Bio will pay Notitia a total of $1,500,000 in license issue fees, with specific payment schedules outlined [3][4]. - Ongoing royalties will be 6.5% of net sales from sublicensed products, with minimum royalty payments established for subsequent years [4][5]. - Milestone payments are structured based on the achievement of specific regulatory approvals and sales targets, with amounts ranging from $500,000 to $30,500,000 [5][6]. Group 3: Company Impact - The signing of the amendment is not expected to significantly impact the company's operating performance for the current year, as the financial arrangements are closely tied to product development progress [6]. - The payment structure is designed to ensure efficient use of funds and alleviate short-term financial burdens on the company [6].

Core Viewpoint - Yunnan Watson Bio-Tech Co., Ltd. plans to apply for credit limits from several banks to support its business development and daily operational needs, aiming to expand financing channels and reduce funding costs [1][2]. Summary by Sections Credit Limit Application Overview - The company and its subsidiaries, Yuxi Watson Bio-Tech Co., Ltd. and Yuxi Zerun Bio-Tech Co., Ltd., intend to apply for credit limits from China Construction Bank, China Merchants Bank, Agricultural Bank of China, China Everbright Bank, Yunnan Hongta Bank, Citic Bank, and Industrial Bank [1]. - The credit will be used for research and development, production, sales, and daily operational expenses [1][2]. - The proposed credit limits and terms are detailed in a table, indicating that the credit will be unsecured and based on the company's creditworthiness [1][2]. Board of Directors' Opinion - The board agrees with the subsidiaries' need for credit to support their operational requirements, emphasizing that the credit will be used for normal business activities and will not harm the interests of shareholders, especially minority shareholders [2]. Supervisory Board's Opinion - The supervisory board supports the credit application, stating that the funds will facilitate production and operational efficiency, aligning with the company's normal funding needs [2].

Core Viewpoint - Watson Bio (300142.SZ) has signed an amendment to its exclusive sublicense agreement with Notitia Biotechnologies Company to enhance its market competitiveness and expand its core microbiome therapy in the field of precise micro-ecological health and functional nutrition intervention [1] Group 1: Agreement Details - The amendment allows Watson Bio to exclusively develop, manufacture, and commercialize core microbiome analysis, microbiome-targeted transplantation, and nutritional formula technologies in mainland China, Hong Kong, and Macau for non-patient populations [1] - This agreement is based on the upstream licensing agreement that Notitia has with Rutgers University in New Jersey, USA [1] Group 2: Strategic Implications - The signing of this amendment signifies a dual-track layout for the company, combining "disease treatment intervention" with "chronic disease prevention and health nutrition" [1] - The initiative aligns with national policies on non-drug interventions and emphasizes the importance of chronic disease nutrition and prevention strategies [1] Group 3: Market Positioning - The company aims to provide a comprehensive health solution that covers in-hospital treatment, out-of-hospital management, and multi-scenario interventions [1] - This move is expected to integrate existing clinical pathways and underlying technology platform construction, offering diverse product forms to address sub-health and high-risk chronic disease populations [1]

Core Viewpoint - Watson Bio has signed an exclusive sublicensing agreement with Notitia Biotechnologies to expand its collaboration into the non-patient field, allowing for the development and commercialization of specific technologies in China, Hong Kong, and Macau [1] Group 1: Agreement Details - The exclusive sublicensing agreement was signed on May 23, 2025, focusing on the "patient field" initially [1] - The amendment to the agreement aims to include relevant intellectual property and proprietary technology for the non-patient field [1] Group 2: Technology and Rights - Notitia will grant Watson Bio exclusive rights to develop, manufacture, and commercialize core microbiome analysis, microbiome-targeted transplantation, and nutritional formulation technologies in mainland China, Hong Kong, and Macau [1] - These technologies are derived from an upstream licensing agreement between Notitia and Rutgers University in New Jersey [1]

沃森生物（SZ 300142，收盘价：12.81元）7月30日晚间发布公告称，公司第五届第三十次董事会会议 于2025年7月30日以通讯表决的方式召开。会议审议了《关于签署微生态健康靶向技术独家再许可协议 之修正案的议案》等文件。 2024年1至12月份，沃森生物的营业收入构成为：生物医药占比100.0%。 （文章来源：每日经济新闻） ...

Core Points - Watson Bio announced a board meeting on July 30, 2025, to approve a revised agreement that expands the scope of "core microbiome therapy" into precision microbiome health and functional nutrition intervention [1] - The revision includes granting exclusive rights for development, manufacturing, and commercialization in mainland China, Hong Kong, and Macau for non-patient populations [1] - The financial terms, duration, and due diligence clauses of the agreement have been amended, but the signing will not significantly impact the company's operating performance for the current year [1]

证券代码：300142 证券简称：沃森生物 公告编号：2025-038 云南沃森生物技术股份有限公司 关于签署微生态健康靶向技术独家再许可协议之修正案的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 云南沃森生物技术股份有限公司（以下简称"公司"或"沃森生物"）于 2025 年 7 月 30 日召开第五届董事会第三十次会议，审议通过了《关于签署微生态健 康靶向技术独家再许可协议之修正案的议案》。为深入贯彻国家"未病先防"慢 病防控战略，进一步拓展"核心菌群疗法"在精准微生态健康和功能性营养干预 领域的研发及商业化应用，增强公司市场竞争力，董事会同意公司与美国 Notitia Biotechnologies Company（以下简称"Notitia"）签署《Amendment to Exclusive Sublicense Agreement》（《独家再许可协议之修正案》，以下简称"修正案"）。 根据修正案，Notitia 将其与美国新泽西州立罗格斯大学签署的上游许可协议所获 得的核心菌群分析、菌群靶向移植及营养配方技术授予公司在中国大陆、香港和 澳门地区 ...

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical and biotechnology industry, expecting the industry index to outperform the market index by over 10% in the next six months [1][40]. Core Insights - The SW pharmaceutical and biotechnology industry outperformed the CSI 300 index, rising by 7.84% from July 11 to July 24, 2025, exceeding the CSI 300's performance by approximately 4.13 percentage points [4][14]. - Most sub-sectors within the industry recorded positive returns during the same period, with the medical research outsourcing and raw materials sectors leading with increases of 14.23% and 9.30%, respectively [4][15]. - Approximately 91% of stocks in the industry achieved positive returns, with notable performers including Borui Pharmaceutical, which saw a weekly increase of 78.98% [16]. Summary by Sections 1. Market Review - The SW pharmaceutical and biotechnology industry outperformed the CSI 300 index, with a rise of 7.84% from July 11 to July 24, 2025, surpassing the CSI 300 by about 4.13 percentage points [14]. - Most sub-sectors recorded positive returns, particularly medical research outsourcing and raw materials, which increased by 14.23% and 9.30%, respectively [15]. - About 91% of stocks in the industry had positive returns, with Borui Pharmaceutical leading at 78.98% [16]. 2. Industry News - The report highlights the ongoing progress of the 11th batch of national drug procurement, with significant updates provided during a government open day event on July 22, 2025 [4][28]. - The announcement of the 11th batch of national drug procurement included a notification for drug information submission, which was highly anticipated [4][28]. 3. Company Announcements - Yekang Pharmaceutical announced that its subsidiary received FDA approval for clinical trials of YKYY029 injection for hypertension treatment [29]. 4. Industry Outlook - The report maintains an "Overweight" rating for the industry, citing a continuous rise in the pharmaceutical and biotechnology sector driven by positive sentiment towards innovative drugs and improved financing data [30]. - The report suggests focusing on investment opportunities within the innovative drug supply chain and highlights several companies across various segments, including medical devices, pharmaceutical commerce, and innovative drugs [30][32].