Haisco(SZ:002653) Shang Hai Zheng Quan Bao·2026-01-09 19:01Core Viewpoint - The company held its 34th meeting of the fifth board of directors on January 8, 2026, where several key resolutions were passed, including amendments to the Articles of Association, the use of idle raised funds for cash management, and a licensing agreement with AirNexis for the HSK39004 project [1][4][47]. Group 1: Board Resolutions - The board approved the amendment to the Articles of Association with a unanimous vote of 5 in favor [1]. - The board agreed to use up to RMB 230 million of idle raised funds for cash management, ensuring it does not affect ongoing projects or normal operations [4][31]. - A resolution was passed to hold the first extraordinary general meeting of 2026, with all proposals requiring shareholder approval [9][12]. Group 2: Licensing Agreement with AirNexis - The company signed an exclusive licensing agreement with AirNexis for the global development, production, and commercialization of HSK39004, excluding certain regions [7][48]. - AirNexis will pay an upfront fee of USD 108 million, which includes USD 40 million in cash and approximately USD 68 million in equity, along with potential milestone payments of up to USD 955 million [7][59]. - The agreement allows the company to receive a royalty of up to 12% on net sales and a share of any income from sublicensing agreements [61][66]. Group 3: Financial and Operational Context - The company raised a total of RMB 800 million through a private placement, with a net amount of RMB 790.87 million after expenses [32]. - The company plans to utilize idle funds for low-risk, short-term investments to enhance fund efficiency while ensuring project funding remains unaffected [34][35]. - The licensing agreement is expected to positively impact the company's future performance and profitability, aligning with its strategic goals of internationalization and innovation [66].