WANTAI BIOLOGICAL(SH:603392) Shang Hai Zheng Quan Bao·2025-08-20 20:39Core Viewpoint - The company has released its 2025 semi-annual report, detailing its financial performance and management of raised funds, while ensuring compliance with relevant regulations and transparency in operations [1][5][20]. Group 1: Company Overview - Beijing Wantai Biological Pharmacy Enterprise Co., Ltd. is engaged in the development and production of vaccines and biological products [2]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period [2]. Group 2: Financial Data - The total amount raised from a non-public offering in June 2022 was approximately RMB 349,999.99 million, with a net amount of RMB 346,015.57 million after deducting related expenses [20]. - As of June 30, 2025, the remaining balance of raised funds was RMB 150,940.25 million, including RMB 23,025.20 million in dedicated accounts and RMB 127,915.05 million in principal-protected financial products [21][22]. Group 3: Fund Management - The company has established a dedicated fund management system, ensuring that raised funds are stored in special accounts and managed in compliance with regulations [23][24]. - The company has signed tripartite supervision agreements with banks and its sponsor to ensure the proper use of raised funds [24][25]. Group 4: Fund Utilization - In the first half of 2025, the company directly invested RMB 19,132.35 million into projects funded by the raised capital [21]. - The company has not terminated any new fundraising investment projects during the reporting period [30]. Group 5: Impairment Provisions - The company has recognized a total impairment provision of RMB 8,085.62 million for the first half of 2025, which includes credit impairment losses of RMB 5,743 million and inventory impairment losses of RMB 2,342.62 million [42][44]. - The increase in credit impairment losses is attributed to delayed payments from local disease control centers due to financial constraints [41]. Group 6: Investor Communication - The company plans to hold a semi-annual performance briefing on September 2, 2025, to address investor inquiries and provide insights into its financial results [35][36].