定增预案后股东抛减持计划 破伤风疫苗龙头欧林生物突然终止定增

Core Viewpoint - The company, Olin Bio (688319.SH), has decided to terminate its planned private placement of shares due to current market conditions and internal assessments, despite the ongoing progress of its vaccine research and production base technology renovation project [1][2]. Group 1: Company Overview - Olin Bio is headquartered in Chengdu and has three core products: Tetanus Toxoid Vaccine, Hib Conjugate Vaccine, and AC Conjugate Vaccine, with the Tetanus Toxoid Vaccine maintaining a leading market share in China [1]. - The company has a GMP base of approximately 80,000 square meters, which includes three bulk production lines, four filling lines, two packaging lines, one R&D center, one quality inspection center, and one experimental animal center [1]. Group 2: Fundraising and Financials - The planned private placement aimed to raise 175 million yuan for the technology renovation project, which has a total investment of approximately 290 million yuan [2]. - As of the first half of 2025, Olin Bio reported cash and cash equivalents of 184 million yuan and total liabilities of 902 million yuan, indicating potential cash flow pressure if the technology renovation project proceeds without the planned fundraising [2]. Group 3: Market Reaction and Stock Performance - Following the announcement of the private placement, Olin Bio's stock price surged from 16.17 yuan on June 17 to 28.87 yuan by September 2, representing an increase of over 78% [3]. - The company’s significant stock price increase raised concerns among investors about potential market overheating, especially as the private placement price was set significantly lower than the current market price [3][2]. Group 4: Shareholder Actions - Shortly after the private placement announcement, the controlling shareholder, Shanghai Wushan Biotechnology Co., Ltd., announced a plan to reduce its holdings by up to 12.18 million shares, representing no more than 3% of the company's total share capital [4].