Core Insights - He Yuan Bio (688238.SH) released its Q3 2025 financial report on October 28, 2025, indicating a total of 73.72 million shares held by five institutional investors, accounting for 11.36% of the company's total share capital [1] - The institutional holding percentage decreased by 1.53 percentage points compared to the previous quarter [1] Institutional Investors - The five institutional investors include Shanghai Zhangjiang Technology Venture Capital Co., Ltd., Zhejiang Huarui Shengyin Venture Capital Co., Ltd., Shanghai Tanying Investment Partnership (Limited Partnership), Shanghai Zhangjiang Torch Venture Capital Co., Ltd., and Shanghai Ouli Investment Management Center (Limited Partnership) [1] - The total institutional holding percentage stands at 11.36% [1] Public Funds - In this period, 67 public funds were not disclosed compared to the previous quarter, including notable funds such as Huatai-PB CSI Precision Medical Index (LOF) A, SSE Composite Index ETF, Guotai SSE Comprehensive ETF, and others [1]

Core Viewpoint - Company plans to invest in Beijing Shali Bio-pharmaceutical Co., Ltd. through its subsidiary, Shanghai JunTuo Bio-pharmaceutical Technology Co., Ltd., by subscribing to shares worth RMB 80 million, acquiring a 5.1105% stake in the target company [1][2] Group 1: Investment Details - JunTuo Bio intends to subscribe to 1,280,623 shares of Beijing Shali for RMB 80 million, while Shanghai TanYing Investment Partnership will invest RMB 40 million for 640,311 shares [1] - After the investment, the combined stake of the company and JunTuo Bio in Beijing Shali will be 5.1105% [1] Group 2: Target Company Overview - Beijing Shali is an innovative pharmaceutical company focused on tumor immune cell therapy, particularly developing tumor-infiltrating lymphocyte (TIL) drugs [1] - The company has developed GT101 injection, the first TIL drug approved for clinical registration in China, currently in critical Phase II clinical trials [1] - GT201 injection, the world's first membrane-bound IL-15 complex TIL product, has completed IND submissions in both China and the U.S. and is approved for Phase I clinical trials [1] Group 3: Strategic Rationale - The investment aligns with the company's long-term development strategy and is expected to enhance collaboration with other industry players, leveraging high-quality resources [2] - The transaction is not anticipated to adversely affect the company's normal operations or financial performance, benefiting the company and all shareholders [2]

Core Viewpoint - Junshi Biosciences (01877) is investing in Beijing Shali Bio-pharmaceutical Co., Ltd. through its subsidiary, Shanghai Juntao Biopharmaceutical Technology Co., Ltd., by subscribing to shares worth RMB 80 million, acquiring a 5.1105% stake in the company [1][2] Group 1 - Junshi Biosciences' subsidiary plans to subscribe to 1,280,623 shares of Beijing Shali for RMB 80 million, while another shareholder, Shanghai Tanying Investment Partnership, will invest RMB 40 million for 640,311 shares [1] - Beijing Shali specializes in tumor immune cell therapy, focusing on tumor-infiltrating lymphocytes (TIL) and has developed the first TIL drug approved for clinical registration in China, GT101, which is currently in critical Phase II clinical trials [1] - The company has also completed dual IND submissions for its first membrane-bound IL-15 complex TIL product, GT201, which is approved to enter Phase I clinical trials [1] Group 2 - The investment is seen as a strategic move to enhance collaboration within the industry and leverage high-quality resources, aligning with the long-term development strategy of Junshi Biosciences [2] - The transaction is expected to have no significant adverse impact on the company's normal operations or financial performance, benefiting the company and all shareholders [2]

直接持有公司5%以上股份的股东上海檀英投资合伙企业(有限合伙)(以下简称"上海檀英")拟参与本次增 资，以人民币4,000万元认购北京沙砾640,311股股份。根据《上海证券交易所科创板股票上市规则》(以 下简称"《上市规则》")的规定，上海檀英为公司关联法人，本次交易属于与关联方共同投资，构成关 联交易，未构成《上市公司重大资产重组管理办法》规定的重大资产重组。 格隆汇9月29日丨君实生物(688180.SH)公布，公司控股子公司上海君拓生物医药科技有限公司(以下简 称"君拓生物")及其他投资方(上述主体单称或合称为"投资方")拟与北京沙砾生物医药股份有限公司(以 下简称"北京沙砾"或"标的公司")、标的公司创始人及相关方签订《增资协议》等交易文件(以下简称"本 次增资")，君拓生物拟以人民币8,000万元认购北京沙砾1,280,623股股份，本次增资完成后，公司及君 拓生物将合计持有北京沙砾5.1105%股权。 ...

格隆汇9月29日丨君实生物(688180.SH)公布，公司控股子公司上海君拓生物医药科技有限公司(以下简 称"君拓生物")及其他投资方(上述主体单称或合称为"投资方")拟与北京沙砾生物医药股份有限公司(以 下简称"北京沙砾"或"标的公司")、标的公司创始人及相关方签订《增资协议》等交易文件(以下简称"本 次增资")，君拓生物拟以人民币8,000万元认购北京沙砾1,280,623股股份，本次增资完成后，公司及君 拓生物将合计持有北京沙砾5.1105%股权。 直接持有公司5%以上股份的股东上海檀英投资合伙企业(有限合伙)(以下简称"上海檀英")拟参与本次增 资，以人民币4,000万元认购北京沙砾640,311股股份。根据《上海证券交易所科创板股票上市规则》(以 下简称"《上市规则》")的规定，上海檀英为公司关联法人，本次交易属于与关联方共同投资，构成关 联交易，未构成《上市公司重大资产重组管理办法》规定的重大资产重组。 ...