北京海润天睿律师事务所 关于石药创新制药股份有限公司 2025 年第二次临时股东大会的法律意见书 北京市朝阳区建外大街甲 14 号广播大厦 5 层/9 层/10 层/13 层/17 层 电话：010-65219696 传真：010-88381869 法律意见书 北京海润天睿律师事务所 关于石药创新制药股份有限公司 2025 年第二次临时股东大会的法律意见书 致：石药创新制药股份有限公司 北京海润天睿律师事务所（以下简称"本所"）接受石药创新制药股份有 限公司（以下简称"公司"）的委托，指派本所律师出席公司 2025 年第二次临 时股东大会（以下简称"本次股东大会"或"本次会议"），并依据《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》"）、《石药创新制药股份有限公司章程》（以下简称"《公 司章程》"）、《石药创新制药股份有限公司股东大会议事规则》（以下简称"《股 东大会议事规则》"）及其他相关法律、法规的规定，就公司本次股东大会的召 集、召开程序、出席会议人员的资格、召集人资格、表决程序及表决结果等有关 事宜出具本法律意见书。 关于本法律意见书，本所及本所 ...

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. 本次股东大会未出现否决议案的情形。 2. 本次股东大会不涉及变更以往股东大会已通过的决议的情形。 一、会议的召开和出席情况 1. 股东大会的届次：2025 年第二次临时股东大会。 2. 会议召集人：公司董事会。 证券代码：300765 证券简称：新诺威 公告编号：2025-082 石药创新制药股份有限公司 2025 年第二次临时股东大会决议公告 3. 会议主持人：公司董事长姚兵。 4. 会议召开的日期、时间： （1）现场会议召开时间：2025 年 10 月 16 日（星期四）下午 14:30 开始。 （2）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具体时 间为：2025 年 10 月 16 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交 易所互联网投票系统投票的具体时间为：2025 年 10 月 16 日 9:15-15:00。 5. 现场会议召开地点：河北省石家庄市高新区中山东路 896 号公司会议室。 6. 出席会议的股东人数： 通过现场和网 ...

Core Viewpoint - New Nuo Wei's stock price has shown significant volatility, with a year-to-date increase of 63.83%, but recent declines in the short term indicate potential market fluctuations [1][2]. Company Overview - New Nuo Wei, established on April 5, 2006, and listed on March 22, 2019, is based in Shijiazhuang, Hebei Province. The company focuses on the research, production, and sales of functional foods, with revenue composition as follows: 88.93% from functional foods and raw materials, 8.91% from biopharmaceuticals, and 2.16% from other sources [1]. Financial Performance - For the first half of 2025, New Nuo Wei reported revenue of 1.05 billion yuan, reflecting a year-on-year growth of 7.99%. However, the net profit attributable to shareholders was a loss of 2.75 million yuan, a decrease of 102% compared to the previous year [2][3]. - Cumulatively, since its A-share listing, New Nuo Wei has distributed a total of 651 million yuan in dividends, with 500 million yuan distributed over the past three years [3]. Shareholder Structure - As of June 30, 2025, New Nuo Wei had 16,400 shareholders, an increase of 3.45% from the previous period. The average number of circulating shares per shareholder decreased by 3.34% to 75,994 shares [2]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited holding 20.99 million shares, an increase of 5.05 million shares from the previous period [3].

Group 1 - The company, XinNuoWei, reported that as of September 30, 2025, the number of shareholders in its consolidated ordinary accounts and margin trading credit accounts is 16,410 [2]

Core Viewpoint - New Nuo Wei is acquiring an additional 29% stake in Giant Stone Biopharmaceutical Co., Ltd. from its controlling shareholder, Enbi Pu Pharmaceutical Co., Ltd., which will increase its ownership to 80% after the transaction is completed [1][4]. Group 1: Acquisition Details - The acquisition price is set at 1.1 billion yuan, representing a premium of approximately 146% over the assessed value of Giant Stone Biopharmaceutical [6]. - New Nuo Wei previously acquired 51% of Giant Stone Biopharmaceutical for 1.871 billion yuan in early 2024, making it a controlling subsidiary [4][11]. - The transaction does not include any performance commitments from the seller [7]. Group 2: Financial Performance - Giant Stone Biopharmaceutical is currently operating at a loss, with losses of approximately 376 million yuan in the first half of 2025 [2][8]. - New Nuo Wei reported a loss of 2.7461 million yuan in the first half of 2025, marking its first mid-year loss since 2017 [7][9]. - The company's revenue for the first half of 2025 was 1.05 billion yuan, a year-on-year increase of 7.99% [7]. Group 3: Strategic Implications - The repeated acquisitions from the controlling shareholder indicate a strategic shift towards the innovative drug sector, as New Nuo Wei aims to enhance its market position [10][11]. - New Nuo Wei is planning to list in Hong Kong to support its global strategy and improve its international competitiveness [13]. - The company has faced challenges in its operational performance, raising questions about its ability to sustain normal operations post-acquisition [7][9].

Core Viewpoint - New Nuo Wei's stock price has shown significant volatility, with a year-to-date increase of 66.01%, but recent declines in the short term indicate potential market fluctuations [1][2]. Company Overview - New Nuo Wei, established on April 5, 2006, and listed on March 22, 2019, is based in Shijiazhuang, Hebei Province, focusing on the research, production, and sales of functional foods [1]. - The company's revenue composition includes 88.93% from functional foods and raw materials, 8.91% from biopharmaceuticals, and 2.16% from other sources [1]. Financial Performance - For the first half of 2025, New Nuo Wei reported revenue of 1.05 billion yuan, reflecting a year-on-year growth of 7.99%, while the net profit attributable to the parent company was a loss of 2.75 million yuan, a decrease of 102% compared to the previous year [2]. - Cumulatively, New Nuo Wei has distributed 651 million yuan in dividends since its A-share listing, with 500 million yuan distributed over the past three years [3]. Shareholder Structure - As of June 30, 2025, New Nuo Wei had 15,900 shareholders, an increase of 18% from the previous period, with an average of 78,620 circulating shares per shareholder, down 15.26% [2]. - Major shareholders include Hong Kong Central Clearing Limited, holding 20.99 million shares, and several mutual funds, indicating a diverse institutional interest [3].

西藏药业：佐利替尼于今年上半年正式商业化 近日，西藏药业举办2025半年度业绩说明会。会上管理层提到，晨泰医药的佐利替尼产品公司是采用与 代理商合作的方式进行销售推广，目前大股东康哲药业没有参与该产品的商业化支持。 晨泰产品佐利替尼是全世界首款专门面向伴中枢神经系统（CNS）转移的晚期非小细胞肺癌 （NSCLC）开展注册临床试验并取得显著成果的药物，作为目前唯一明确采用非血脑屏障外排蛋白底 物设计的EGFR酪氨酸激酶抑制剂（EGFR-TKI），具有100%透过血脑屏障的能力。 佐利替尼于今年上半年正式商业化，该产品正在进行医保谈判前的准备工作，预计今年收益不会对公司 产生较大的影响。 健尔康：高度重视应收账款管理工作，业务员及绩效考核严格与回款挂钩 近日，健尔康举办2025年半年度业绩说明会。会上管理层介绍，公司高度重视应收账款管理工作。公司 所有客户都有指定业务员跟踪服务，并负责货款的催收，业务员及绩效考核严格与回款挂钩。公司设有 风控专员岗位，每月财务负责统计应收账款余额及到期款余额，风控专员组织销售部门召开回款会议， 确定回款计划、重点催收单位及催款工作安排，并跟踪落实。 新诺威：为促进成药业务发展，筹 ...

Core Insights - The trend of A-share companies pursuing dual listings in Hong Kong is becoming a standard configuration for internationalization, with 25 companies announcing plans in September alone [2][38] - The Hong Kong IPO market is experiencing a surge, with 286 new applications received by September 30, more than double the previous year, and a total of 66 new IPOs raising approximately 182.3 billion HKD [3][4] - The regulatory environment is favorable, with the China Securities Regulatory Commission supporting leading enterprises in their Hong Kong listings and the Hong Kong Stock Exchange optimizing the approval process for eligible A-share companies [5][6][7] Group 1: Market Activity - The Hong Kong IPO market is witnessing a significant influx of Chinese companies, with a total fundraising amount of 134.5 billion HKD by the end of August, a nearly sixfold increase compared to the same period in 2024 [3][4] - A-share companies utilizing the "A+H" listing model accounted for 70% of total fundraising in the first half of the year, with 11 companies raising a total of 91.7 billion HKD [3][4] Group 2: Strategic Considerations - The motivations behind A-share companies listing in Hong Kong include not only the expansion of financing channels but also the alignment with favorable policies and the need for global capital reallocation [10] - Companies like Kexing Pharmaceutical and Newnovel have explicitly stated that their Hong Kong listings are part of their strategies to enhance international competitiveness and accelerate global business development [11][13] Group 3: Investor Dynamics - The participation of cornerstone investors in the Hong Kong IPO market has significantly increased, with an average of 5.35 cornerstone investors per listing, compared to 1.37 last year [22] - Local state-owned enterprises are increasingly becoming cornerstone investors, with over 15 local state-owned platforms participating in IPOs this year [25][26] Group 4: Talent and Market Evolution - The changing landscape of market participants is leading to a shift in talent demand, particularly for teams in Hong Kong and AI-focused investment professionals [32] - International investment banks are ramping up their presence in Hong Kong, with major banks increasing their senior management personnel to meet the growing demand in the financial sector [34][36]

Core Viewpoint - The company is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy and competitiveness in the international market [1] Group 1: Company Actions - The company held the 26th meeting of the 6th Board of Directors and the 21st meeting of the 6th Supervisory Board to approve the proposal for the issuance of H-shares [1] - The company is currently in discussions with relevant intermediaries regarding the issuance and listing of H-shares [1] Group 2: Strategic Goals - The issuance of H-shares aims to deepen the company's global strategic layout and create an international capital operation platform [1] - The initiative is expected to promote the development of the company's pharmaceutical business [1]

Key Points - Hainan Huatie's shareholder Hu Danfeng has terminated the share reduction plan and plans to increase holdings in the company with an investment of no less than 30 million yuan and no more than 50 million yuan [2] - Yonghe Co. expects a net profit increase of 447.64% to 506.85% year-on-year for Q3 2025, driven by the high demand in the refrigerant industry and product optimization [3] - Delis Co. is planning a change in company control, leading to a suspension of its stock from October 9, 2025 [4] - BYD reported September 2025 sales of 396,300 new energy vehicles, a slight decrease from 419,400 units in the same month last year, while cumulative sales for the year reached 3.26 million units, up 18.64% [5] - Chipone Technology expects Q3 2025 revenue of 1.284 billion yuan, marking a historical high for the company, with a year-on-year increase of 78.77% [7] - Chipone anticipates a significant improvement in profitability for Q3 2025, with new orders expected to reach 1.593 billion yuan, a year-on-year increase of 145.80% [8] - ST Zhengping's stock will be suspended from trading starting October 9, 2025, due to unusual stock price fluctuations [2][28] - Huanxin Cement plans to repurchase shares worth between 32.25 million and 64.5 million yuan [14] - Sichuan Gold won exploration rights for a gold mine in Xinjiang for 510 million yuan, indicating strong geological potential [15]