Mabwell(SH:688062) Zheng Quan Zhi Xing·2025-08-29 12:17Summary of Key Points Core Viewpoint The report provides a detailed account of the fundraising activities and the actual usage of the raised funds by Maiwei (Shanghai) Biotechnology Co., Ltd. for the first half of 2025, ensuring compliance with regulatory requirements and highlighting the management of funds. Fundraising Overview - The company raised a total of RMB 3,476,520,000.00 through the issuance of 99,900,000 shares at RMB 34.80 per share, with a net amount of RMB 3,303,432,172.40 after deducting issuance costs [1]. - The funds were fully received by January 10, 2022, and have been deposited in a special account approved by the board [1]. Fund Usage and Balance - As of June 30, 2025, the cumulative amount used from the raised funds is RMB 2,202,397,643.63, leaving a balance of RMB 87,409,961.81 [2][3]. - The funds were utilized for various projects, with RMB 1,930,647,129.47 specifically allocated to fundraising projects [1]. Fund Management - The company has established a fundraising management system to ensure proper storage, usage, and supervision of the funds, in line with relevant laws and regulations [2]. - A tripartite/four-party supervision agreement has been signed with financial institutions to oversee the special account for the raised funds [2]. Temporary Fund Usage - The company has temporarily used part of the idle funds to supplement working capital, with a maximum amount of RMB 125,000,000.00 approved for this purpose [3]. - As of June 30, 2025, the balance of temporarily supplemented working capital remains unpaid [3]. Cash Management - The company has also engaged in cash management with idle funds, allowing for investment in related financial products, with a total of RMB 87,344,944.99 allocated for this purpose [3]. Project Updates - The company has not used any excess funds for ongoing or new projects, nor has it repaid any bank loans with excess funds as of June 30, 2025 [3][4]. - The report indicates that the company has made adjustments to its fundraising projects, including the completion of the "Annual Production of 1,000kg Antibody Industrialization Project," with surplus funds being permanently allocated to working capital [4][5]. Compliance and Disclosure - The company has ensured timely, truthful, accurate, and complete disclosure of the fundraising and usage status, with no violations in fund management identified [4].