Core Viewpoint - Haofan Bio plans to acquire 100% equity of Hangzhou Foster Pharmaceutical for 160 million RMB to overcome production capacity constraints and enhance supply capabilities [1][2][3] Group 1: Acquisition Details - The acquisition will be conducted in two phases, with the first phase granting Haofan Bio 85% equity, making it the controlling shareholder [3] - Hangzhou Foster is a mature production base with complete production and supporting facilities, certified by GMP, ISO9001, ISO14001, and OHSAS18001 [3][4] - The acquisition aims to leverage Hangzhou Foster's existing surplus capacity to improve Haofan Bio's supply capabilities and product structure [4] Group 2: Financial Performance - Hangzhou Foster reported a revenue of 204 million RMB in 2024 with a net loss of 28.44 million RMB, and a revenue of 26.18 million RMB in Q1 2025 with a net loss of 8.44 million RMB [5] - Haofan Bio experienced significant growth in 2024, achieving a revenue of 452 million RMB, a 16.22% increase year-on-year, and a net profit of 134 million RMB, a 35.44% increase [7] Group 3: Market Context - Haofan Bio has been facing production capacity shortages due to increased market demand, which has hindered its ability to fulfill customer orders [6] - The company is actively working on expanding its production capacity through new projects and collaborations, aiming to increase its self-owned capacity over the next 2-3 years [7]

Core Viewpoint - Suzhou Haofan Bio Co., Ltd. plans to acquire 100% equity of Hangzhou Foster Pharmaceutical Co., Ltd. for 160 million yuan, aiming to enhance its production capacity and product offerings despite the target company's current losses [1][4][11]. Group 1: Acquisition Details - The acquisition will occur in two phases, with the first phase granting Haofan Bio 85% equity, making it the controlling shareholder [1]. - The total transaction price is set at 160 million yuan, based on an asset-based valuation of 97.02 million yuan and a revenue-based valuation of 161.81 million yuan, indicating a significant premium [5][6]. Group 2: Financial Performance of Target Company - Hangzhou Foster reported revenues of 203.69 million yuan and 26.18 million yuan for 2024 and Q1 2025, respectively, with net losses of 28.44 million yuan and 8.44 million yuan [3][4]. - As of March 31, 2025, Hangzhou Foster's total assets were 268.74 million yuan, with total liabilities of 222.71 million yuan, resulting in a net asset value of 46.03 million yuan [3]. Group 3: Strategic Rationale - The acquisition is expected to allow Haofan Bio to leverage Hangzhou Foster's excess production capacity and certifications, enhancing operational efficiency and market competitiveness [12]. - The move aligns with Haofan Bio's strategy to expand its product structure and create new business and profit growth points, especially as its current production capacity is insufficient to meet demand [11][12].

Core Viewpoint - The company has disclosed its quarterly report, ensuring the accuracy and completeness of financial information, and has undertaken legal responsibilities for any misrepresentation or omissions [2][3]. Financial Data - The company has not restated or adjusted previous accounting data and confirms that non-recurring gains and losses are applicable, specifically mentioning the refund of personal income tax handling fees as a non-recurring item [3][4]. - As of February 5, 2025, the company has repurchased a total of 1,028,148 shares, accounting for 0.95% of the total share capital, with a total transaction amount of approximately 41.99 million yuan [6]. Shareholder Information - The company has not reported any changes in the top ten shareholders or the status of shares lent out for margin trading [5]. Other Important Matters - The company has established a wholly-owned subsidiary in Germany, "Highfine Biotech GmbH," with a registered capital of 200,000 euros, aimed at enhancing its competitive edge and expanding its market presence in Europe [7]. - The company’s production capacity is being expanded, with the first phase of its Anhui production base having commenced operations in August 2022, and a new project expected to obtain production licenses by January 2025 [9].

Investment Rating - The report assigns a "Buy" rating for the company, indicating that the stock price is expected to outperform the benchmark index by more than 15% [13]. Core Insights - The company's main business of peptide synthesis reagents shows steady growth, with a significant contribution from overseas markets [2][4]. - In 2024, the company achieved a revenue of 452 million yuan, a year-on-year increase of 16.22%, and a net profit attributable to the parent company of 134 million yuan, up 35.44% year-on-year [1]. - The company has a robust product reserve and customer base, which helps in building a competitive moat [4][5]. Financial Performance - In 2024, the sales of peptide synthesis reagents amounted to 354 million yuan, a year-on-year increase of 17.42%, while the sales of general molecular building blocks decreased by 22.02% to 58 million yuan [2]. - The company's gross margin for 2024 was 40.28%, an increase of 1.73 percentage points year-on-year, with the gross margin for peptide synthesis reagents at 41.55%, up 3.04 percentage points [3]. - The company expects revenues of 581 million yuan, 723 million yuan, and 871 million yuan for 2025, 2026, and 2027 respectively, with net profits projected at 173 million yuan, 216 million yuan, and 260 million yuan for the same years [7]. Product and Market Position - The company has developed over 160 types of novel peptide synthesis reagents and has a comprehensive product system with more than 800 types of general molecular building blocks [4]. - The company serves over 1,900 pharmaceutical R&D and production enterprises, with a significant increase in procurement from CDMO clients in 2024 [5]. - The company’s self-built production capacity is expected to enhance its production capabilities, with a project in Anhui expected to produce 1,002 tons of peptide reagents annually [5].

股票简称：昊帆生物 股票代码：301393 首次公开发行股票并在创业板上市 之 上市公告书 保荐人（主承销商） 苏州昊帆生物股份有限公司 Suzhou Highfine Biotech Co., Ltd. （苏州高新区鸿禧路 32 号 F-12 标准厂房） （中国（上海）自由贸易试验区浦明路 8 号） 二零二三年七月 特别提示 苏州昊帆生物股份有限公司（以下简称"昊帆生物"、"本公司"或"发行 人"、"公司"）股票将于 2023 年 7 月 12 日在深圳证券交易所创业板上市，该 市场具有较高的投资风险。创业板公司具有业绩不稳定、经营风险高、退市风险 大等特点，投资者面临较大的市场风险。投资者应充分了解创业板市场的投资风 险及本公司所披露的风险因素，审慎做出投资决定。 本公司提醒投资者应充分了解股票市场风险以及本公司披露的风险因素，在 新股上市初期切忌盲目跟风"炒新"，应当审慎决策、理性投资。 如无特别说明，本上市公告书中的简称或名词的释义与本公司首次公开发行 股票并在创业板上市招股说明书中的相同。 1 | 特别提示 1 | | | --- | --- | | 目 录 2 | | | 第一节 重要声明与提示 ...

本次发行股票拟在创业板上市，创业板公司具有创新投入大、新旧产业融合 存在不确定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高等特 点，投资者面临较大的市场风险。投资者应充分了解创业板的投资风险及本 公司所披露的风险因素，审慎作出投资决定。 苏州昊帆生物股份有限公司 Suzhou Highfine Biotech Co., Ltd. （苏州高新区鸿禧路 32 号 F-12 标准厂房） 首次公开发行股票并在创业板上市 招股说明书 保荐人（主承销商） （中国（上海）自由贸易试验区浦明路 8 号） 苏州昊帆生物股份有限公司 招股说明书 声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风险。 1-1-1 苏州昊 ...

苏州昊帆生物股份有限公司 首次公开发行股票并在创业板上市发行公告 保荐人（主承销商）： 特别提示 苏州昊帆生物股份有限公司（以下简称"昊帆生物"、"发行人"或"公司"）根据中 国证券监督管理委员会（以下简称"中国证监会"）《证券发行与承销管理办法》（证 监会令[第 208 号]）（以下简称"《管理办法》"）、《首次公开发行股票注册管理办 法》（证监会令[第 205 号]）、深圳证券交易所（以下简称"深交所"）《深圳证券交 易所首次公开发行证券发行与承销业务实施细则》（深证上[2023]100 号）（以下简 称"《实施细则》"）、《深圳市场首次公开发行股票网上发行实施细则》（深证上 〔2018〕279 号）（以下简称"《网上发行实施细则》"）、《深圳市场首次公开发行 股票网下发行实施细则（2023 年修订）》（深证上〔2023〕110 号）（以下简称"《网 下发行实施细则》"）、《深圳证券交易所创业板投资者适当性管理实施办法（2020 年修订》（以下简称"《投资者适当性管理办法》"）和中国证券业协会（以下简 称"证券业协会"）《首次公开发行证券承销业务规则》（中证协发〔2023〕18 号）、 《首次公开发行证券 ...

苏州昊帆生物股份有限公司 Suzhou Highfine Biotech Co., Ltd. （苏州高新区鸿禧路 32 号 F-12 标准厂房） 首次公开发行股票并在创业板上市 本次发行股票拟在创业板上市，创业板公司具有创新投入大、新旧产业融合 存在不确定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高等特 点，投资者面临较大的市场风险。投资者应充分了解创业板的投资风险及本 公司所披露的风险因素，审慎作出投资决定。 招股意向书 保荐人（主承销商） （中国（上海）自由贸易试验区浦明路 8 号） 苏州昊帆生物股份有限公司 招股意向书 声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风险。 1-1-1 苏州昊 ...

本次发行股票拟在创业板上市，创业板公司具有创新投入大、新旧产业融合 存在不确定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高等特 点，投资者面临较大的市场风险。投资者应充分了解创业板的投资风险及本 公司所披露的风险因素，审慎作出投资决定。 苏州昊帆生物股份有限公司 Suzhou Highfine Biotech Co., Ltd. （苏州高新区鸿禧路 32 号 F-12 标准厂房） 首次公开发行股票并在创业板上市 招股说明书 （注册稿） 本公司的发行申请尚需经深圳证券交易所和中国证监会履行相应程序。本招 股说明书不具有据以发行股票的法律效力，仅供预先披露之用。投资者应当 以正式公告的招股说明书作为投资决定的依据。 保荐人（主承销商） （中国（上海）自由贸易试验区浦明路 8 号） 苏州昊帆生物股份有限公司 招股说明书 声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后， ...

本次发行股票拟在创业板上市，创业板公司具有创新投入大、新旧产业融合 存在不确定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高等特 点，投资者面临较大的市场风险。投资者应充分了解创业板的投资风险及本 公司所披露的风险因素，审慎作出投资决定。 苏州昊帆生物股份有限公司 Suzhou Highfine Biotech Co., Ltd. （苏州高新区鸿禧路 32 号 F-12 标准厂房） 首次公开发行股票并在创业板上市 招股说明书 （注册稿） 本公司的发行申请尚需经深圳证券交易所和中国证监会履行相应程序。本招 股说明书不具有据以发行股票的法律效力，仅供预先披露之用。投资者应当 以正式公告的招股说明书作为投资决定的依据。 保荐人（主承销商） （中国（上海）自由贸易试验区浦明路 8 号） 苏州昊帆生物股份有限公司 招股说明书 重要声明与承诺 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对注册 申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行 人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之 相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行 ...