Core Points - The annual general meeting of Shanghai Aladdin Biochemical Technology Co., Ltd. was held on May 15, 2025, with no rejected proposals [2] - All resolutions presented at the meeting were approved, including the annual reports and profit distribution plans [4][5][6] Meeting Details - The meeting took place at the company's office in Shanghai, with a combination of on-site and online voting methods [2] - The chairman, Mr. Xu Jiuzhen, presided over the meeting, ensuring compliance with relevant laws and regulations [2][3] Attendance - Out of 9 current directors, 7 attended the meeting, while all 3 supervisors were present [3] - The board secretary and all senior executives were also in attendance [3] Resolutions Passed - Key resolutions included the approval of the 2024 Board of Directors' work report, the 2024 Supervisory Board's work report, and the 2024 annual financial report [4][5] - The proposal for the 2025 financial budget and the reappointment of the auditing firm for 2025 were also approved [5][6] Legal Verification - The meeting was witnessed by lawyers from Shanghai Jintiancheng Law Firm, confirming that all procedures and resolutions were in accordance with the law [7] Management Appointment - On May 15, 2025, the board appointed Mr. Tan Xiaoyong as the vice president, effective immediately [8][9] - Mr. Tan holds 1,791,395 shares in the company and meets all qualifications for the position [10]

Core Viewpoint - Shanghai Aladdin Biochemical Technology Co., Ltd. has appointed Mr. Tan Xiaoyong as the Vice General Manager, effective from May 15, 2025, until the end of the current board term [1]. Group 1: Appointment Details - The appointment was approved during the 39th meeting of the fourth board of directors [1]. - Mr. Tan Xiaoyong holds 1,791,395 shares in the company and meets the qualifications required by relevant laws and regulations [2]. Group 2: Mr. Tan Xiaoyong's Background - Mr. Tan Xiaoyong, born in October 1984, is a Chinese national with a master's degree [4]. - His previous roles include positions in marketing and business development at various companies, and he has been involved in financial management and executive roles since 2020 [4].

Core Viewpoint - The report summarizes the sponsorship and continuous supervision of Shanghai Aladdin Biochemical Technology Co., Ltd. by Western Securities for the issuance of convertible bonds to unspecified objects, highlighting the compliance with regulatory requirements and the company's operational adjustments during the process [1][2]. Group 1: Company Overview - Company Name: Shanghai Aladdin Biochemical Technology Co., Ltd. [2] - Securities Code: 688179.SH [2] - Registered Capital: 277,385,321 Yuan [2] - Registered Address: No. 809, Chuhua Branch Road, Fengxian District, Shanghai [2] - Legal Representative: Xu Jiuzhen [2] - Actual Controllers: Xu Jiuzhen, Zhao Liping [2] - Secretary of the Board: Zhao Xin'an [2] - Type of Securities Issuance: Convertible bonds to unspecified objects [2] - Listing Date: April 12, 2022 [2] - Listing Location: Shanghai Stock Exchange [2] Group 2: Sponsorship Work Overview - The sponsor conducted due diligence and prepared application documents, ensuring compliance with laws and regulations [3][4]. - After obtaining approval from the China Securities Regulatory Commission (CSRC), the sponsor submitted the necessary documents for issuance and listing [3]. Group 3: Continuous Supervision Phase - The sponsor ensured the company adhered to operational norms, commitments, and information disclosure obligations during the continuous supervision phase [4]. - The company adjusted investment amounts and internal investment structures for certain fundraising projects, ensuring no impact on main business operations [5][6]. Group 4: Major Events and Handling - The company approved adjustments to investment amounts for specific projects, reflecting the need for efficient use of raised funds without altering the total investment amount [5]. - The adjustments were approved by the board, supervisory board, shareholders' meeting, and bondholders' meeting, with the sponsor providing verification opinions [5][6]. Group 5: Company Cooperation with Sponsorship - The company provided necessary documents and information for the issuance process, ensuring their authenticity and completeness [6]. - During the continuous supervision phase, the company maintained compliance with regulations and promptly communicated significant events to the sponsor [6][7]. Group 6: Conclusion on Information Disclosure - The sponsor reviewed the company's information disclosure documents, confirming compliance with relevant regulations and ensuring timely and accurate disclosures [7][8]. - The company adhered to the special account storage system for raised funds, with no violations in the use of these funds [8]. Group 7: Remaining Matters - As of December 31, 2024, the company has not fully utilized the raised funds from the convertible bond issuance, and the sponsor will continue to supervise the remaining fund usage and conversion matters [8].

Core Insights - The article highlights the ongoing efforts by Shanghai to optimize its business environment, with a focus on addressing common issues faced by enterprises, such as intellectual property infringement and profit-driven occupational claims [1][3]. Group 1: Business Environment Optimization - Shanghai has achieved global best practices in 22 business environment assessment points according to the World Bank's 2025 report, reflecting the city's commitment to improving its business climate [1]. - The Shanghai government has launched the "8.0 Plan" to enhance the business environment, which includes 58 specific tasks aimed at improving enterprise experiences [1][2]. - The "Top Ten Key Tasks" have been identified to address urgent enterprise needs and enhance inter-departmental collaboration, ensuring public oversight to expedite implementation [2][3]. Group 2: Specific Challenges and Solutions - Common issues identified include the spread of infringement information, intellectual property violations, and profit-driven occupational claims, which have been addressed in the new action plan [3][6]. - The plan includes measures to combat profit-driven occupational claims by optimizing complaint management and establishing legal frameworks to reduce the impact on businesses [3][6]. - The introduction of "no disturbance" inspection lists aims to minimize unnecessary regulatory checks on low-risk businesses, enhancing operational efficiency [4][11]. Group 3: Financial Support and Growth - Local government initiatives, such as the "Oriental Beauty Valley Loan," have provided significant financial support to startups, enabling them to reduce financing costs and achieve growth [7]. - The implementation of tailored financing structures for mergers and acquisitions has facilitated strategic control for companies, promoting innovation and industry upgrades [8]. - The focus on grassroots business environment improvements is crucial for supporting small and medium enterprises, which constitute a significant portion of Shanghai's economic landscape [10].

Group 1 - The company, Shanghai Aladdin Biochemical Technology Co., Ltd., issued a total of 3.874 million convertible bonds, raising a total of RMB 387.4 million, with a net amount of RMB 373.38 million after deducting issuance costs [2][3] - The bonds have a maturity of six years, with an annual interest rate that increases from 0.4% in the first year to 3.0% in the sixth year [3][4] - The initial conversion price for the bonds is set at RMB 63.72 per share, which can be adjusted based on specific corporate actions [5][13] Group 2 - The company has provisions for adjusting the conversion price in case of stock dividends, capital increases, or other corporate actions that affect share capital [6][8] - If the stock price falls below 85% of the conversion price for 15 out of 30 consecutive trading days, the company can propose a downward adjustment of the conversion price, subject to shareholder approval [9][17] - The company has successfully adjusted the conversion price multiple times, with the latest adjustment setting it at RMB 16.17 per share effective from March 26, 2025 [14][18] Group 3 - The company has a credit rating of A+ for the convertible bonds, indicating a stable outlook [12] - The bonds are listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, providing liquidity and visibility to investors [3][5] - The company is committed to maintaining investor rights and will closely monitor the bond's principal and interest repayment situation [18]