Group 1 - The company Yaoshi Technology announced that there is only one trading day left until the trading of "Yaoshi Convertible Bonds" ceases on September 15, 2025 [2] - There are four trading days remaining until the conversion of "Yaoshi Convertible Bonds" into stocks ceases on September 18, 2025 [2] - Bondholders must open the ChiNext trading permissions to convert their bonds into stocks, and those who do not meet the suitability management requirements cannot convert their bonds [2]

| 证券代码：300725 | 证券简称：药石科技 | 公告编号：2025-086 | | --- | --- | --- | | 债券代码：123145 | 债券简称：药石转债 | | 1、最后交易日：2025 年 9 月 12 日 2025 年 9 月 12 日为"药石转债"最后一个交易日；当日"药石转债"简称 为"Z 石转债"；2025 年 9 月 12 日收市后"药石转债"将停止交易。 南京药石科技股份有限公司 关于药石转债赎回实施暨即将停止交易的重要提示性公告 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。 重要内容提示： 2、最后转股日：2025 年 9 月 17 日 2025 年 9 月 17 日收市前，持有"药石转债"的投资者仍可进行转股，2025 年 9 月 17 日收市后，未实施转股的"药石转债"将停止转股，剩余可转债将按 照 100.62 元/张的价格被强制赎回。若被强制赎回，投资者可能面临投资损失。 截至 2025 年 9 月 11 日收市后，距离 2025 年 9 月 15 日（"药石转债"停止 交易日）仅剩 1 个交易日；距离 20 ...

Core Viewpoint - A proposed executive order from the Trump administration is causing significant turmoil in the biopharmaceutical market, with major declines in stock prices for several companies [1][6]. Market Reaction - In the A-share market, companies such as Nossger, Huyou Pharmaceutical, and Tigermed saw declines exceeding 5%, with others like Yaoshi Technology and WuXi AppTec also following suit [1][2]. - The Hong Kong market's innovative drug concept index initially dropped over 7%, later narrowing to a 4.39% decline by midday [2]. Proposed Policy Impact - The New York Times reported that the proposed policy would require the FDA to conduct stricter reviews of clinical trial data from China, with companies submitting such data facing higher regulatory fees [3]. - If implemented, these restrictions could disrupt the U.S. pharmaceutical industry and affect the supply of all types of drugs, from generics to advanced therapies [6]. Industry Concerns - Analysts express that this "black swan" event could lead to a global supply chain restructuring, similar to the trade war during Trump's first term [7]. - The potential for drug shortages and rising prices in the U.S. market is a significant concern, particularly for generic drugs [7]. Investment Sentiment - Investor sentiment is divided, with some viewing the situation as a short-term emotional shock, while others worry that the end of the U.S. market could signal the end of the Chinese innovative drug bull market [9]. - Historical data suggests that after similar events, the pharmaceutical sector typically experiences a rebound within 2-4 weeks, with potential gains of 15%-20% [9].

Core Viewpoint - Nanjing Yaoshi Technology Co., Ltd. announced the implementation of the redemption of Yaoshi convertible bonds, which will cease trading soon, potentially leading to losses for investors [1] Group 1: Redemption Details - The last trading day for "Yaoshi Convertible Bonds" is September 12, 2025, and the last conversion day is September 17, 2025 [1] - Unconverted bonds will be forcibly redeemed at 100.62 CNY per bond after the market closes [1] Group 2: Trigger Conditions - From July 25, 2025, to August 14, 2025, the company's stock triggered conditional redemption clauses [1] - The company issued 11.5 million "Yaoshi Convertible Bonds" in 2022, with the latest conversion price set at 33.61 CNY per share [1] Group 3: Investor Considerations - Bondholders must open a ChiNext trading account to convert their bonds [1] - Investors are reminded to pay attention to risks and to convert within the specified period [1]

| 证券代码：300725 | 证券简称：药石科技 | 公告编号：2025-085 | | --- | --- | --- | | 债券代码：123145 | 债券简称：药石转债 | | 南京药石科技股份有限公司 关于药石转债赎回实施暨即将停止交易的重要提示性公告 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。 重要内容提示： 1、最后交易日：2025 年 9 月 12 日 2025 年 9 月 12 日为"药石转债"最后一个交易日；当日"药石转债"简称 为"Z 石转债"；2025 年 9 月 12 日收市后"药石转债"将停止交易。 2、最后转股日：2025 年 9 月 17 日 2025 年 9 月 17 日收市前，持有"药石转债"的投资者仍可进行转股，2025 年 9 月 17 日收市后，未实施转股的"药石转债"将停止转股，剩余可转债将按 照 100.62 元/张的价格被强制赎回。若被强制赎回，投资者可能面临投资损失。 截至 2025 年 9 月 10 日收市后，距离 2025 年 9 月 15 日（"药石转债"停止 交易日）仅剩 2 个交易日；距离 20 ...

| 证券代码：300725 | 证券简称：药石科技 | 公告编号：2025-084 | | --- | --- | --- | | 债券代码：123145 | 债券简称：药石转债 | | 南京药石科技股份有限公司 关于药石转债赎回实施暨即将停止交易的重要提示性公告 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。 重要内容提示： 1、最后交易日：2025 年 9 月 12 日 2025 年 9 月 12 日为"药石转债"最后一个交易日；当日"药石转债"简称 为"Z 石转债"；2025 年 9 月 12 日收市后"药石转债"将停止交易。 2、最后转股日：2025 年 9 月 17 日 2025 年 9 月 17 日收市前，持有"药石转债"的投资者仍可进行转股，2025 年 9 月 17 日收市后，未实施转股的"药石转债"将停止转股，剩余可转债将按 照 100.62 元/张的价格被强制赎回。若被强制赎回，投资者可能面临投资损失。 截至 2025 年 9 月 9 日收市后，距离 2025 年 9 月 15 日（"药石转债"停止 交易日）仅剩 3 个交易日；距离 202 ...

Core Viewpoint - Nanjing Yaoshi Technology Co., Ltd. announced the redemption implementation of Yaoshi convertible bonds, which will cease trading on September 12, 2025, and investors may face losses if they do not convert their bonds before the deadline [1] Summary by Relevant Sections - **Redemption Details** - The last trading day for "Yaoshi Convertible Bonds" is September 12, 2025, after which trading will stop [1] - The last conversion date is September 17, 2025, and unconverted bonds will be forcibly redeemed at 100.62 CNY per bond [1] - **Investor Considerations** - Investors are reminded to convert their bonds within the specified period and to be aware of the associated risks [1] - The company issued 11.5 million "Yaoshi Convertible Bonds" in 2022, with the current conversion price set at 33.61 CNY per share [1] - The company’s stock triggered conditional redemption clauses from July 25, 2025, to August 14, 2025 [1]

Group 1 - The core announcement from Yaoshi Technology indicates that as of September 17, 2025, any unconverted "Yaoshi Convertible Bonds" will be forcibly redeemed at a price of 100.62 CNY per bond [2] - The company highlights a significant discrepancy between the secondary market price of the "Yaoshi Convertible Bonds" and the redemption price, urging bondholders to convert their bonds within the specified timeframe to avoid potential losses [2]

| 证券代码：300725 | 证券简称：药石科技 | 公告编号：2025-083 | | --- | --- | --- | | 债券代码：123145 | 债券简称：药石转债 | | 南京药石科技股份有限公司 关于提前赎回药石转债的第十七次提示性公告 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。 3、停止交易日：2025 年 9 月 15 日 4、赎回登记日：2025 年 9 月 17 日 5、停止转股日：2025 年 9 月 18 日 6、赎回日：2025 年 9 月 18 日 7、发行人资金到账日（到达中国结算账户）：2025 年 9 月 23 日 8、投资者赎回款到账日：2025 年 9 月 25 日 9、赎回类别：全部赎回 特别提示： 1、"药石转债"赎回价格：100.62 元/张（债券面值加当期应计利息，当期 年利率为 1.5%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有 限责任公司深圳分公司（以下简称"中国结算"）核准的价格为准。 2、赎回条件满足日：2025 年 8 月 14 日 10、本次赎回完成后，"药石转债"将在深圳证券交 ...

Group 1 - The company Yaoshi Technology announced a mandatory redemption of its convertible bonds ("Yaoshi Convertible Bonds") at a price of 100.62 CNY per bond, effective after the market closes on September 17, 2025 [2] - The current market price of the "Yaoshi Convertible Bonds" is significantly different from the redemption price, prompting the company to remind bondholders to convert their bonds within the specified period to avoid potential losses [2]