（一）募集资金基本情况 经中国证券监督管理委员会《关于同意浙江花园生物医药股份有限公司向不特定 对象发行可转换公司债券注册的批复》（证监许可[2023]252）注册同意，公司按面值 向不特定对象发行可转债1,200万张，每张面值100元，募集资金总额为人民币 1,200,000,000.00元，扣除与发行有关的费用人民币13,655,312.24元（不含增值税）， 募集资金净额为人民币1,186,344,687.76元。上述募集资金业经大华会计师事务所(特 殊普通合伙)验证，并出具大华验字[2023]000111号《验资报告》。 国联民生证券承销保荐有限公司 关于浙江花园生物医药股份有限公司 调整部分募投项目投资金额的核查意见 根据《证券发行上市保荐业务管理办法》《上市公司募集资金监管规则》《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13号— —保荐业务》《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》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"公司")的持续 督导保荐机构，国联民生证券承销保荐有限公司(以下简称"国联民生承销保荐"或 "保荐 ...

| 第一章 | 总 则 2 | | | --- | --- | --- | | 第二章 | 经营宗旨和范围 3 | | | 第三章 | 股 份 3 | | | 第一节 | 股份发行 3 | | | 第二节 | 股份增减和回购 6 | | | 第三节 | 股份转让 7 | | | 第四章 | 股东和股东会 8 | | | 第一节 | 股东的一般规定 8 | | | 第二节 | 控股股东和实际控制人 | 10 | | 第三节 | 股东会的一般规定 | 11 | | 第四节 | 股东会的召集 13 | | | 第五节 | 股东会的提案与通知 14 | | | 第六节 | 股东会的召开 16 | | | 第七节 | 股东会的表决和决议 18 | | | 第五章 | 董事会 | 22 | | 第一节 | 董事的一般规定 22 | | | 第二节 | 董事会 | 25 | | 第三节 | 独立董事 28 | | | 第四节 | 董事会专门委员会 | 30 | | 第六章 | 高级管理人员 | 32 | | 第七章 | 财务会计制度、利润分配、中小投资者保护机制和审计 33 | | | 第一节 | 财务会计制度 33 | ...

| 证券代码：300401 | 证券简称：花园生物 | 公告编号：2025-045 | | --- | --- | --- | | 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 关于调整部分募投项目投资金额的公告 本公司及董事会全体成员保证公告内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏 浙江花园生物医药股份有限公司（以下简称"公司"）于2025年12月15日召开了 第七届董事会第十四次会议，审议通过了《关于调整部分募投项目投资金额的议 案》，同意公司调整可转债部分募投项目的投资金额。该议案尚需提交公司股东会审 议。 根据《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》等相关法律法规的相关规定，本事项不构 成关联交易，亦不属于《上市公司重大资产重组管理办法》规定的重大资产重组。现 将有关情况公告如下： （一）募集资金基本情况 一、募集资金投资项目概述 经中国证券监督管理委员会《关于同意浙江花园生物医药股份有限公司向不特定 对象发行可转换公司债券注册的批复》（证监许可[2023]252）注册同意，公 ...

浙江花园生物医药股份有限公司 | 证券代码：300401 | 证券简称：花园生物 | 公告编号：2025-049 | | --- | --- | --- | | 债券代码：123178 | 债券简称：花园转债 | | 关于修改《公司章程》的公告 | 第五条 | 公司住所：浙江省东阳市南马镇花园村 | 公司住所：浙江省东阳市南马镇花园村康 | | --- | --- | --- | | 条款 | 修订前 邮政编码：322121。 | 修订后 平路2号 邮政编码：322121。 | 除上述条款外，《公司章程》其他条款内容保持不变。具体变更内容以市场监督管 理部门核准、登记的情况为准。同时，为保证后续工作的顺利开展，董事会提请股东 大会授权由董事会及其指定人员办理修订后的《公司章程》备案等工商手续。修订后 的《公司章程》全文详见巨潮资讯网（www.cninfo.com.cn）。 特此公告。 浙江花园生物医药股份有限公司董事会 2025年12月15日 本公司及董事会全体成员保证公告内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏 浙江花园生物医药股份有限公司（以下简称"公司"）于2025年12月15日召开第 ...

| 证券代码:300401 | | --- | | 债券代码:123178 | 证券代码：300401 证券简称：花园生物 公告编号：2025-047 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 关于召开 2025 年第二次临时股东会的通知 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。 一、召开会议的基本情况 1、股东会届次：2025 年第二次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《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》等法律、行政法规、部门规章、规范性文件及《公司章程》的有关规定。 4、会议时间： （1）现场会议时间：2025 年 12 月 31 日 14:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 12 月 31 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投 票的具体时间为 2025 年 12 月 ...

| 证券代码：300401 | 证券简称：花园生物 公告编号：2025-046 | | --- | --- | | 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 第七届董事会第十四次会议决议公告 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。 具体内容详见公司在巨潮资讯网（http://www.cninfo.com.cn）上披露的相关公告。 此议案须股东会审议。 表决结果：9票同意，0票反对，0票弃权。本议案获得通过。 （二）审议通过了《关于修改<公司章程>的议案》 具体内容详见公司在巨潮资讯网（http://www.cninfo.com.cn）上披露的相关公告。 此议案须股东会审议。 表决结果：9票同意，0票反对，0票弃权。本议案获得通过。 一、会议召开情况 浙江花园生物医药股份有限公司（以下简称"公司"）第七届董事会第十四次会议 于2025年12月15日以通讯表决方式召开，会议通知于2025年12月9日以微信、电子邮件 等方式送达全体董事。本次会议应参加表决董事9人，实际参加表决董事9人。公司高管 参与了会议。会议符合《 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report The report presents the top ten convertible bonds for December 2025, analyzing each bond's issuer, including its financial performance, business scope, and key attractions [1][3][4]. 3. Summary by Company 3.1 Zhongte Convertible Bond - **Company Profile**: A globally leading specialized special steel material manufacturing enterprise with a production capacity of about 20 million tons of special steel materials per year [11]. - **Financial Performance**: In 2024, its operating income was 109.203 billion yuan (YoY -4.22%), and the net profit attributable to the parent was 5.126 billion yuan (YoY -10.41%). In the first three quarters of 2025, the operating income was 81.206 billion yuan (YoY -2.75%), and the net profit attributable to the parent was 4.33 billion yuan (YoY +12.88%) [11]. - **Company Highlights**: It is one of the world's most comprehensive special steel enterprises in terms of variety and specifications, with leading market shares in core products such as bearing steel and automotive steel. It has a complete industrial chain and strong cost - control capabilities, and is actively seeking external expansion [12]. 3.2 Shanlu Convertible Bond - **Company Profile**: Mainly engaged in road and bridge engineering construction and maintenance, and actively expanding into other fields. It has a complete business and management system [29]. - **Financial Performance**: In 2024, its operating income was 71.348 billion yuan (YoY -2.3%), and the net profit attributable to the parent was 2.322 billion yuan (YoY +1.47%). In the first three quarters of 2025, the operating income was 41.354 billion yuan (YoY -3.11%), and the net profit attributable to the parent was 1.41 billion yuan (YoY -3.27%) [29]. - **Company Highlights**: Controlled by the Shandong Provincial State - owned Assets Supervision and Administration Commission, it has the concept of "China Special Valuation". It is expected to benefit from infrastructure construction in Shandong and the "Belt and Road" initiative [30]. 3.3 Hebang Convertible Bond - **Company Profile**: With advantages in salt mines, phosphate mines, and natural gas supply, it has completed the basic layout in the chemical, agricultural, and photovoltaic fields [44]. - **Financial Performance**: In 2024, its operating income was 8.547 billion yuan (YoY -3.13%), and the net profit attributable to the parent was 31 million yuan (YoY -97.55%). In the first three quarters of 2025, the operating income was 5.927 billion yuan (YoY -13.02%), and the net profit attributable to the parent was 93 million yuan (YoY -57.93%) [44]. - **Company Highlights**: Its phosphate mines and salt mines contribute stable profits, and the liquid methionine business has high - margin performance [45]. 3.4 Huayuan Convertible Bond - **Company Profile**: Focused on building a complete vitamin D3 upstream - downstream industrial chain, with products including cholesterol, vitamin D3, and chemical preparations [57]. - **Financial Performance**: In 2024, its operating income was 1.243 billion yuan (YoY +13.58%), and the net profit attributable to the parent was 309 million yuan (YoY +60.76%). In the first three quarters of 2025, the operating income was 936 million yuan (YoY -0.2%), and the net profit attributable to the parent was 234 million yuan (YoY -3.07%) [57]. - **Company Highlights**: It is a leader in NF - grade cholesterol and 25 - hydroxyvitamin D3 products. It is expanding its product matrix and has a layout in the pharmaceutical manufacturing field [58]. 3.5 Xingye Convertible Bond - **Company Profile**: One of the first joint - stock commercial banks approved by the State Council and the People's Bank of China, evolving into a modern financial service group [71]. - **Financial Performance**: In 2024, its operating income was 212.226 billion yuan (YoY +0.66%), and the net profit attributable to the parent was 77.205 billion yuan (YoY +0.12%). In the first three quarters of 2025, the operating income was 161.234 billion yuan (YoY -1.82%), and the net profit attributable to the parent was 63.083 billion yuan (YoY +0.12%) [71]. - **Company Highlights**: It has stable asset quality and scale growth, with a large number of corporate and retail customers [72]. 3.6 Huanxu Convertible Bond - **Company Profile**: A global leader in electronic manufacturing design, providing value - added services to brand customers [81]. - **Financial Performance**: In 2024, its operating income was 60.691 billion yuan (YoY -0.17%), and the net profit attributable to the parent was 1.652 billion yuan (YoY -15.16%). In the first three quarters of 2025, the operating income was 43.641 billion yuan (YoY -0.83%), and the net profit attributable to the parent was 1.263 billion yuan (YoY -2.6%) [81]. - **Company Highlights**: It is a leading manufacturer of smart wearable SiP modules, with advanced packaging technologies and a global production layout [82]. 3.7 Chongyin Convertible Bond - **Company Profile**: The earliest local joint - stock commercial bank in the upper reaches of the Yangtze River and Southwest China, listed on the Hong Kong Stock Exchange and selected for the "Leading Bank" program [94]. - **Financial Performance**: In 2024, its operating income was 13.679 billion yuan (YoY +3.54%), and the net profit attributable to the parent was 5.117 billion yuan (YoY +3.8%). In the first three quarters of 2025, the operating income was 11.74 billion yuan (YoY +10.4%), and the net profit attributable to the parent was 4.879 billion yuan (YoY +10.19%) [94]. - **Company Highlights**: Benefiting from the Chengdu - Chongqing economic circle strategy, it has stable asset - scale growth and a reasonable credit strategy [96]. 3.8 Tianye Convertible Bond - **Company Profile**: The first industrial enterprise of the Xinjiang Production and Construction Corps and a leading enterprise in the chlor - alkali chemical industry, with an integrated circular economy industrial chain [103]. - **Financial Performance**: In 2024, its operating income was 11.156 billion yuan (YoY -2.7%), and the net profit attributable to the parent was 68 million yuan (YoY +108.83%). In the first three quarters of 2025, the operating income was 7.97 billion yuan (YoY +2.2%), and the net profit attributable to the parent was 7 million yuan (YoY -28.79%) [103]. - **Company Highlights**: The cost of caustic soda production is relatively fixed, and it plans to increase the dividend frequency and has coal - mine projects in progress [106]. 3.9 Aorui Convertible Bond - **Company Profile**: A company focusing on the R & D, production, and sales of complex APIs and preparations, leading in several technical fields [119]. - **Financial Performance**: In 2024, its operating income was 1.476 billion yuan (YoY +16.89%), and the net profit attributable to the parent was 355 million yuan (YoY +22.59%). In the first three quarters of 2025, the operating income was 1.237 billion yuan (YoY +13.67%), and the net profit attributable to the parent was 354 million yuan (YoY +24.58%) [119]. - **Company Highlights**: It has an optimized distributor network, expanding preparation products, and high - quality customer resources [120]. 3.10 Yushui Convertible Bond - **Company Profile**: The largest water supply and drainage integrated enterprise in Chongqing, with a stable monopoly position in the local market [133]. - **Financial Performance**: In 2024, its operating income was 6.999 billion yuan (YoY -3.52%), and the net profit attributable to the parent was 785 million yuan (YoY -27.88%). In the first three quarters of 2025, the operating income was 5.568 billion yuan (YoY +7.21%), and the net profit attributable to the parent was 779 million yuan (YoY +7.1%) [133]. - **Company Highlights**: It has a high market share in Chongqing, is expanding externally, and has effective cost - control measures [134].

Group 1 - The company Garden Bio announced on November 24 that as of November 20, 2025, the total number of shareholders is 28,552 [2]

Core Insights - Garden Biologics experienced a decline of 2.73% in stock price on November 20, with a trading volume of 164 million yuan [1] - The company reported a financing buy-in amount of 24.2 million yuan and a net financing buy of 1.3 million yuan on the same day [1][2] - As of November 20, the total financing and securities lending balance for Garden Biologics was 548 million yuan, with a financing balance of 547 million yuan, representing 7.26% of the circulating market value [1] Financing and Securities Lending - On November 20, the financing buy-in for Garden Biologics was 24.2 million yuan, with a financing balance of 547 million yuan, which is below the 10% percentile level over the past year [1] - The company repaid 6,900 shares in securities lending and sold 29,300 shares, with a selling amount of 406,400 yuan [1] - The securities lending balance was 773,900 yuan, which is above the 60% percentile level over the past year, indicating a relatively high position [1] Company Overview - Garden Biologics, established on December 18, 2000, and listed on October 9, 2014, is located in Jinhua City, Zhejiang Province [1] - The company's main business focuses on developing, producing, and selling products related to a complete vitamin D3 industry chain [1] - The revenue composition includes vitamin products (47.41%), pharmaceuticals (30.22%), lanolin and derivatives (20.93%), and other minor segments [1] Financial Performance - For the period from January to September 2025, Garden Biologics reported a revenue of 936 million yuan, a slight decrease of 0.20% year-on-year [2] - The net profit attributable to the parent company was 234 million yuan, reflecting a year-on-year decrease of 3.07% [2] Shareholder Information - As of November 10, the number of shareholders for Garden Biologics was 29,100, an increase of 2.11% from the previous period [2] - The average circulating shares per person decreased by 2.06% to 18,378 shares [2] - Cumulatively, the company has distributed 446 million yuan in dividends since its A-share listing, with 178 million yuan distributed over the past three years [3]

Core Viewpoint - Garden Biologics' stock has shown fluctuations with a recent increase of 2.14%, reflecting a total market capitalization of 7.788 billion yuan, while the company continues to focus on developing a complete vitamin D3 industry chain [1] Financial Performance - For the period from January to September 2025, Garden Biologics reported a revenue of 936 million yuan, a slight decrease of 0.20% year-on-year, and a net profit attributable to shareholders of 234 million yuan, down 3.07% year-on-year [2] - Cumulative cash dividends since the company's A-share listing amount to 446 million yuan, with 178 million yuan distributed over the past three years [3] Shareholder Information - As of November 10, 2025, the number of shareholders for Garden Biologics reached 29,100, an increase of 2.11% from the previous period, while the average circulating shares per person decreased by 2.06% to 18,378 shares [2] - The top ten circulating shareholders include Southern CSI 1000 ETF, holding 3.4785 million shares, which decreased by 48,400 shares compared to the previous period [3] Stock Performance - Year-to-date, Garden Biologics' stock price has decreased by 1.48%, but it has seen a 1.70% increase over the last five trading days and a 6.62% increase over the last twenty days [1]