Hylands Law Firm 法律意见书 二〇二五年九月 北京浩天律师事务所 北京浩天律师事务所 法律意见书 关于浙江花园生物医药股份有限公司 北 京 浩 天 律 师 事 务 所 可转换公司债券回售 北京市朝阳区东三环中路 5 号财富金融中心 12 层 12F Fortune Financial Center, No.5 Dongsanhuan Zhong Road, Chaoyang District, Beijing 100020, China 电话Tel：（86-10）65028888，传真Fax：（86-10）65028866 北京浩天律师事务所 致：浙江花园生物医药股份有限公司 北京浩天律师事务所（以下简称"本所"）接受浙江花园生物医药股份有限 公司（以下简称"公司"）委托，依据《中华人民共和国公司法（2023 年修订）》 （以下简称《公司法》）、《中华人民共和国证券法（2019 年修订）》(以下简 称《证券法》)、《可转换公司债券管理办法（2025 年修正）》(以下简称《管 理办法》)、《深圳证券交易所创业板股票上市规则（2025 年修订）》（以下简 称《上市规则》）、《深圳证券交易所上市公司 ...

民生证券股份有限公司 关于浙江花园生物医药股份有限公司 可转换公司债券回售有关事项的核查意见 根据《证券发行上市保荐业务管理办法》《深圳证券交易所创业板股票上市规 则》《深圳证券交易所上市公司自律监管指引第2号——创业板上市公司规范运作》 《深圳证券交易所上市公司自律监管指引第15号——可转换公司债券》等有关规定， 作为浙江花园生物医药股份有限公司(以下简称"花园生物"或"公司")的持续督导 保荐机构，民生证券股份有限公司(以下简称"民生证券"或"保荐机构")对于公司 可转换公司债券（以下简称"花园转债"）回售有关事项进行了核查，核查情况及意见 如下:一、可转换公司债券募集资金基本情况 项目。具体内容详见公司于2025年8月16日披露于巨潮资讯网（www.cninfo.com.cn）上 的《关于调整部分募投项目用途及新增募投项目的公告》（公告编号：2025-026）。 根据《深圳证券交易所上市公司自律监管指引第15号—可转换公司债券》《深圳证 券交易所创业板股票上市规则》等相关规定，经股东会批准变更募集资金投资项目的， 上市公司应当在股东会通过后20个交易日内赋予可转债持有人一次回售的权利。根据 《募集说明书 ...

| 证券代码：300401 | 证券简称：花园生物 | 公告编号：2025-035 | | --- | --- | --- | | 债券代码：123178 | 债券简称：花园转债 | | 浙江花园生物医药股份有限公司 关于"花园转债"回售的第一次提示性公告 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 1、回售价格：100.512元/张（含息、税） 2、回售申报期：2025年9月9日至2025年9月15日 8、风险提示：投资者选择回售等同于以人民币100元/张（不含利息）卖出持有的 "花园转债"。截至本公告发出前的最后一个交易日，"花园转债"的收盘价为 131.671元/张。投资者选择回售可能会带来损失，敬请投资者注意风险。 浙江花园生物医药股份有限公司（以下简称"公司"）于2025年9月2日召开2025年 第一次临时股东会及"花园转债"2025年第一次债券持有人会议，审议通过了《关于调 整部分募投项目用途及新增募投项目的议案》。根据《公司向不特定对象发行可转换公 司债券募集说明书》（以下简称"《募集说明书》"）的约定，"花园转债"的附加回 售条款生效。现将" ...

证券日报网讯花园生物9月5日在互动平台回答投资者提问时表示，公司部分可转债募投项目虽因技术优 化、工艺参数调整等原因导致项目整体建设周期有所延长，但项目建设一直在推进中。 （文章来源：证券日报） ...

Group 1 - The company has completed the construction of the "annual production of 6,000 tons of vitamin A powder project" as planned [2] - The "annual production of 5,000 tons of vitamin B6 project" is delayed due to further optimization of technology and enhancement of automation levels, and it is currently in the trial production phase [2]

（文章来源：证券日报） 证券日报网讯花园生物9月5日在互动平台回答投资者提问时表示，截至2025年8月29日，公司股东总户 数为28，198户。 ...

证券日报网讯花园生物9月5日在互动平台回答投资者提问时表示，产品价格的变动对公司业绩的影响需 关注量价关系；公司业绩由公司所有产品共同支撑，请理性评估单一产品对公司整体业绩的影响。 （文章来源：证券日报） ...

Core Viewpoint - The AI Fund, Invesco Great Wall Specialized and New Quantitative Selected Stock A, reported a profit of 86.43 million yuan for the first half of 2025, with a net value growth rate of 19.31% and a fund size of 508 million yuan as of the end of June 2025 [2][3]. Group 1: Fund Performance - The fund's weighted average profit per share for the reporting period was 0.1297 yuan [2]. - As of September 3, the unit net value was 0.921 yuan [2]. - The fund's net value growth rates over various periods are as follows: 24.17% over the last three months, 23.85% over the last six months, 75.38% over the last year, and 13.96% over the last three years, ranking it 57/167, 53/167, 16/166, and 65/160 respectively among comparable funds [7]. Group 2: Market Outlook - The fund management anticipates that dual drivers from policy and industry will remain the core market theme, with a focus on "AI+" and high-end manufacturing sectors [3]. - The recovery of the fifth set of listing standards on the Sci-Tech Innovation Board is expected to provide crucial financing support for unprofitable tech companies [3]. - The AI industry is entering a period of explosive growth, with significant opportunities in computing infrastructure, multimodal AI applications, and edge hardware [3]. Group 3: Fund Strategy and Holdings - The fund strictly adheres to the specialized and new theme, aiming to enhance stock selection capabilities while maintaining its thematic focus [4]. - As of June 30, 2025, the fund's top ten holdings included companies such as Zhongke Electric, Baipu Sais, and Zhongji United [44]. - The fund's average stock position over the past three years was 91.93%, higher than the industry average of 88.01% [34]. Group 4: Valuation Metrics - As of June 30, 2025, the fund's weighted average price-to-earnings (P/E) ratio was approximately 33.94, compared to the industry average of 23.39 [13]. - The weighted average price-to-book (P/B) ratio was about 3.06, while the industry average was 2.44 [13]. - The weighted average price-to-sales (P/S) ratio was approximately 3.34, with the industry average at 2.1 [13]. Group 5: Growth Metrics - For the first half of 2025, the fund's weighted average revenue growth rate was 0.15%, and the weighted average net profit growth rate was 0.16% [20]. - The weighted annualized return on equity was 0.09% [20].

Core Viewpoint - The AI Fund Zhongjia Reform Dividend Mixed Fund (001537) reported a profit of 571,500 yuan for the first half of 2025, with a weighted average profit per fund share of 0.0134 yuan. The fund's net value growth rate was 1.45%, and the fund size reached 39.39 million yuan by the end of the first half of the year [3]. Fund Performance - As of September 2, the fund's net value growth rates were 24.82% over the past three months, 22.22% over the past six months, 41.75% over the past year, and -10.83% over the past three years, ranking 279/880, 286/880, 399/880, and 696/872 among comparable funds respectively [6]. - The fund's recent six-month turnover rate was approximately 1706.22%, consistently exceeding the average of comparable funds for five years [38]. Valuation Metrics - As of June 30, 2025, the fund's weighted average price-to-earnings (P/E) ratio was approximately 40.28 times, compared to the industry average of 15.75 times. The weighted average price-to-book (P/B) ratio was about 2.59 times, slightly above the industry average of 2.52 times. The weighted average price-to-sales (P/S) ratio was around 2.23 times, compared to the industry average of 2.16 times, indicating higher valuations than peers [11]. Growth Metrics - For the first half of 2025, the fund's weighted average revenue growth rate was 0.05%, and the weighted average net profit growth rate was 0.06%, with a weighted annualized return on equity of 0.06% [18]. Fund Composition - As of June 30, 2025, the fund held a total of 3,387 investors, with a total of 42.38 million shares held. Institutional investors accounted for 80.39% of the holdings, while individual investors made up 19.61% [35]. - The top ten holdings of the fund included companies such as Zhongji Xuchuang, Youyou Food, Huayou Cobalt, and others [40].

Meeting Overview - The seventh board meeting of Zhejiang Huayuan Biological Pharmaceutical Co., Ltd. was held on September 2, 2025, with all nine directors present, and the meeting complied with relevant laws and regulations [1][2]. Resolutions Passed - The board approved the election of Mr. Shao Xujun as the representative director to execute company affairs and serve as the legal representative, with a term lasting until the end of the seventh board's term. The voting results were 9 votes in favor, 0 against, and 0 abstentions [1]. - The board also approved the election of members for the audit committee, including Mr. Shao Xujun, Mr. Yan Jianmiao, and Mr. Li Guowei, with Mr. Li Guowei designated as the committee convener. The term for the audit committee members is the same as that of the seventh board [2]. Background of Elected Members - Mr. Shao Xujun has extensive experience within the Huayuan Group and holds 2.45425 million shares of the company. He is the son-in-law of the actual controller, Mr. Shao Qinxiang, and has not faced any penalties from regulatory bodies [2]. - Mr. Yan Jianmiao is a professor at Zhejiang University and has no shareholding in the company, with no conflicts of interest with major shareholders or management [3]. - Mr. Li Guowei is a professor at Zhejiang University of Finance and Economics and also has no shareholding in the company, maintaining independence from major stakeholders [3][4].