Core Viewpoint - The company has decided to terminate its stock issuance plan to specific investors, which has been in progress for over two years, due to changes in market conditions and regulatory scrutiny [2][3][4]. Group 1: Termination of Stock Issuance - The stock issuance plan aimed to raise up to 500 million yuan for working capital but faced criticism due to a significant price difference between the issuance price of 8.96 yuan per share and the market price of 15.52 yuan per share, representing a 73.21% premium [3][5]. - The company emphasized that the termination of the stock issuance will not have a significant adverse impact on its normal business operations and will not harm the interests of shareholders, especially minority shareholders [3][4]. Group 2: Financial Performance and Concerns - The company has faced scrutiny regarding its high sales expenses, which were 185 million yuan, 156 million yuan, and 167 million yuan from 2021 to 2023, accounting for 37.88%, 41.45%, and 41.20% of revenue, respectively, indicating a higher rate than industry peers [5][8]. - The company's main pharmaceutical product, Bimodine Ointment, saw a revenue decline of 25.15% in 2024, with total revenue from pharmaceuticals dropping from 12.23% in 2023 to 9.80% in 2024 [8][9]. Group 3: Regulatory and Compliance Issues - The company has previously received warnings from regulatory bodies for disclosure violations, including delays in reporting significant litigation and changes in core business operations, which have raised concerns about its compliance and risk management practices [7][10]. - The termination of the stock issuance plan may lead to increased regulatory scrutiny, especially regarding the fairness of pricing in related party transactions [4][6].

Core Viewpoint - Guanhao Bio's plan to raise 500 million yuan through a private placement has been terminated due to changes in market conditions after more than two years of efforts [1][11]. Group 1: Private Placement Details - The private placement aimed to issue up to 55.8 million shares at a price of 8.96 yuan per share, with the total funds intended for working capital [2][3]. - If completed, the actual controllers, Zhang Yongming and Lin Ling, along with their controlled entities, would hold a combined 39.32% of the company's shares [2]. Group 2: Regulatory and Market Challenges - The private placement faced scrutiny regarding its rationale, particularly due to the controlling shareholder's stock being fully pledged and the involvement of related parties in the subscription [4][5]. - The Shenzhen Stock Exchange issued inquiries regarding the legitimacy of the related party subscriptions and the financial capabilities of the actual controllers [6][10]. Group 3: Financial Performance - Guanhao Bio has experienced significant fluctuations in performance, reporting a loss of over 300 million yuan in 2022, primarily due to issues with a subsidiary and impairment losses [12][13]. - In 2023 and 2024, the company's revenue was 404 million yuan and 378 million yuan, with net profits of 31.01 million yuan and 27.42 million yuan, reflecting year-on-year declines of 6.60% and 11.57% respectively [14].

虽然两年多以来冠昊生物（300238）一直在推动定增事项，不过这一事项最终还是遗憾未果。据悉，冠昊生物原拟向实控人控制的企业定 增募资不超5亿元，全部用于补充流动资金。值得注意的是，相较目前的股价，此次定增的发行价格较低，为8.96元/股。而在近期创新药火 热行情的带动下，冠昊生物目前的股价已较定增的发行价格涨逾七成。如果定增顺利实施，若按公司最新收盘价计算，发行对象可浮盈约 3.67亿元。 在业内人士看来，冠昊生物终止定增的核心动因可能在于高折价定增价与当前股价的显著差异，叠加关联交易背景和监管风险。若强行实 施，可能引发中小股东对利益输送和估值不公的质疑，损害市场信心。此外，随着此次定增终止，冠昊生物未来的资金缺口如何填上，也 是一个疑问。 不超5亿元定增终止 6月24日，冠昊生物发布公告称，公司于6月23日召开第六届董事会第十五次会议和第六届监事会第十二次会议，审议通过了《关于公司终 止向特定对象发行股票事项并撤回申请文件的议案》，同意公司终止本次向特定对象发行股票事项并撤回申请文件。 据了解，冠昊生物原拟向特定对象发行股票募集资金总额不超过5亿元（含本数），扣除发行费用后的募集资金净额将全部用于补充流 ...

Group 1 - Baize Medical was listed on the Hong Kong Stock Exchange on June 23, 2025, becoming the third oncology medical service company to go public, following Haijia Medical and Meizhong Jiahe [1] - On its first trading day, Baize Medical's stock price opened at HKD 5.25, a rise of over 24% from the issue price of HKD 4.22, and closed at HKD 6.00, marking a gain of 42.18% [1] - The successful listing of Baize Medical may promote resource integration within the industry and support the expansion of the oncology medical service market [1] Group 2 - Pharmaron announced that its associate company, Yaojie Ankang, was listed on the main board of the Hong Kong Stock Exchange on June 23, 2025 [2] - Pharmaron holds approximately 5.78% of Yaojie Ankang's total shares after the listing, but the actual financial impact will be determined by the audit report [2] - The listing of Yaojie Ankang may enhance investment return expectations and demonstrate the effectiveness of Pharmaron's industry chain layout [2] Group 3 - Guanhao Biological announced the termination of its plan to issue shares to specific investors and has withdrawn its application documents due to changes in the market environment [3] - The decision reflects a strategic adjustment in financing, influenced by market conditions and the company's overall development plan [3] - Attention is needed on the subsequent funding arrangements and business progress following this decision [3] Group 4 - WuXi AppTec has completed a share buyback of 1.5775 million shares, amounting to a total of 1 billion yuan, which represents 0.5462% of its total share capital [4] - The repurchased shares will be used for cancellation, thereby reducing the registered capital [4] - This action signals confidence in long-term development and may enhance shareholder return expectations while optimizing the capital structure [4]

Core Viewpoint - Guanhao Biological has decided to terminate its plan to issue shares to specific investors due to changes in the market environment and overall development strategy, retracting its application documents [1][4]. Group 1: Termination of Share Issuance - The company announced the termination of its share issuance plan initiated in March 2023, which aimed to raise up to 500 million yuan (approximately 70 million USD) by issuing shares at 8.96 yuan per share [1][3]. - The funds from the planned issuance were intended to enhance the company's financial strength and support its operations, improving financial structure and liquidity [3][4]. - The stock price of Guanhao Biological has increased by 69.75% compared to the proposed issuance price, closing at 15.21 yuan per share on June 23 [1][4]. Group 2: Financial Performance - In 2024, the company reported revenue of 377 million yuan, a year-on-year decline of 6.60%, with a net profit attributable to shareholders of 27.42 million yuan, down 11.57% [4]. - For the first quarter of the current year, the company achieved revenue of 94.80 million yuan, a year-on-year increase of 3.67%, and a net profit of 14.87 million yuan, up 3.30% [4]. - As of the end of the first quarter, the company had cash and cash equivalents of 122 million yuan and current liabilities of 146 million yuan [4].

Industry Insights - Recent research published in the journal "Cell" by Chinese scientists presents a new paradigm for human aging intervention through engineered human anti-aging mesenchymal stem cells (SRC), demonstrating effects in delaying multi-organ aging in primate models [1] - The global stem cell therapy market is projected to reach $100 billion by 2030, with China's stem cell industry expected to grow from 45 billion yuan in 2025 to 300 billion yuan by 2030, reflecting a compound annual growth rate of over 25% [1] - The rapid growth in the stem cell sector is driven by policy relaxation, urgent medical needs from an aging population, and disruptive technological breakthroughs, expanding applications from blood disease treatment to tissue repair and anti-aging [1] Company Highlights - Zhongyuan Union is recognized as a major player in China's stem cell industry, possessing the largest umbilical cord blood hematopoietic stem cell bank in Asia, with six CAR-T drugs approved in the field of immune cell therapy [2] - Guanhao Biological has established a GMP-compliant cell preparation technology system, engaging in stem cell drug research and clinical trial collaborations, with significant market influence in cartilage cell transplantation and immune cell storage technologies [2]

Group 1 - The company has decided to terminate the issuance of shares to specific targets and withdraw the application documents due to changes in the market environment and overall development planning [1][2] - The board meeting was conducted with a combination of in-person and communication methods, with independent directors participating via communication [1] - The resolution regarding the termination of the share issuance was passed with 3 votes in favor, 0 against, and 0 abstentions, while 2 directors recused themselves from the vote [2] Group 2 - The company has established a "Management System for the Departure of Directors and Senior Management" to comply with the latest laws and regulations, aiming to enhance corporate governance [2] - The resolution for the management system was approved with 5 votes in favor, 0 against, and 0 abstentions [2]

证券代码：300238 证券简称：冠昊生物 公告编号：2025-045 冠昊生物科技股份有限公司 关于公司终止向特定对象发行股票事项并撤回申请文件的公告 本公司及董事会全体人员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 冠昊生物科技股份有限公司（以下简称"公司"）于 2025 年 6 月 23 日召开 第六届董事会第十五次会议和第六届监事会第十二次会议，审议通过了《关于公 司终止向特定对象发行股票事项并撤回申请文件的议案》，同意公司终止本次向 特定对象发行股票事项并撤回申请文件。现将相关事项公告如下： 一、本次向特定对象发行股票事项的基本情况 2023 年 3 月 22 日，公司召开第五届董事会第十五次会议和第五届监事会第 十二次会议审议通过了《关于公司向特定对象发行 A 股股票方案的议案》及相 关事项。2023 年 4 月 7 日，公司召开 2023 年第一次临时股东大会审议通过了本 次向特定对象发行股票方案，并授权董事会全权办理本次向特定对象发行股票相 关事项。 2024 年 3 月 26 日，公司召开 2023 年年度股东大会，审议通过了《关于延 长公司向特定对象发行 ...

董事、高级管理人员离职管理制度 第一条 为规范冠昊生物科技股份有限公司(以下简称"公司")董事、高级 管理人员离职管理，保障公司治理稳定性和股东的合法权益，根据《公司法》《上 市公司章程指引》等法律法规、规范性文件和《公司章程》的相关规定，结合公 司实际，制定本制度。 第二条 本制度适用于公司董事（含独立董事）、高级管理人员因任期届满、 辞任、被解除职务或其他原因离职的情形。 第二章 离职情形与程序 第三条 公司董事、高级管理人员可以在任期届满前辞任，董事、高级管理 人员辞任应当向公司董事会提交书面辞职报告，辞职报告中应说明辞职原因，公 司收到辞职报告之日辞任生效，公司将在两个交易日内披露有关情况。 第四条 如存在下列情形，在改选出的董事就任前，原董事仍应当依照法律 法规、规范性文件和《公司章程》的规定，继续履行董事职责，但存在相关法规 另有规定的除外： （一）董事任期届满未及时改选，或者董事在任期内辞任导致董事会成员低 于法定最低人数； （二）审计委员会成员辞任导致审计委员会成员低于法定最低人数，或者欠 缺会计专业人士； （三）独立董事辞任导致上市公司董事会或者其专门委员会中独立董事所占 比例不符合法律法规 ...

冠昊生物科技股份有限公司 2025 年第二次临时股东大会决议公告 证券代码：300238 证券简称：冠昊生物 公告编号：2025-046 本公司及董事会全体人员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 特别提示： 1、本次股东大会无否决议案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议； 3、本次股东大会以现场投票和网络投票相结合的方式召开。 （1）会议召开时间：2025年6月23日下午15:00。 （2）会议召开地点：广州市黄埔区玉岩路12号公司会议室。 （3）会议召开方式：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6月23日下午15:00。网络投票时间：通过深圳证券交易所交易系统进 行网络投票的时间为：2025年6月23日上午9:15—9:25，9:30—11:30和下午13:00— 15:00；通过深圳证券交易所互联网投票系统进行投票的具体时间为：2025年6月23 日上午9:15至2025年6月23日下午15:00期间的任意时间。 一、会议召开和出席情况 1、冠昊生物科技股份有限公司（以下简称"公司"）分别于2025年6月7日发 ...