证券代码：688293 证券简称：奥浦迈 公告编号：2025-051 上海奥浦迈生物科技股份有限公司 关于重组草案信息披露的问询函的回复公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 上海奥浦迈生物科技股份有限公司（以下简称"奥浦迈""公司"或"上市 公司"）于2025年6月18日收到上海证券交易所科创板公司管理部下发的《关于 上海奥浦迈生物科技股份有限公司重组草案信息披露的问询函》（上证科创公函 【2025】0265号）（以下简称"《问询函》"）。 根据《问询函》的相关要求，公司会同本次交易的相关方以及公司独立财务 顾问国泰海通证券股份有限公司（以下简称"国泰海通"或"独立财务顾问"）、 律师事务所上海市方达律师事务所（以下简称"方达"或"律师事务所"）对《问 询函》提及的相关事项进行了逐项讨论核实，现就《问询函》相关内容做如下说 明，并根据《问询函》对有关问题进行了进一步说明和补充披露。本回复中涉及 补充披露的内容已以楷体加粗文字在《上海奥浦迈生物科技股份有限公司发行股 份及支付现金购买资产并募集配套资金报告书（ ...

国泰海通证券股份有限公司 关于上海证券交易所 《关于上海奥浦迈生物科技股份有限公司 重组草案信息披露的问询函》 之独立财务顾问核查意见 独立财务顾问 二零二五年六月 上海证券交易所： 贵所于 2025 年 6 月 18 日出具的《关于上海奥浦迈生物科技股份有限公司重 组草案信息披露的问询函》 （上证科创公函〔2025〕0265 号） （以下简称"问询函"） 已收悉。国泰海通证券股份有限公司（以下简称"国泰海通"、"独立财务顾问"） 对问询函所列问题进行了逐项核查，现回复如下。 关于回复内容释义、格式及补充更新披露等事项的说明如下： 如无特别说明，本回复报告中的简称或名词的释义与重组报告书中的相同。 本回复报告的字体： | | | 对问题的答复 宋体 引用重组报告书的内容 楷体 （2）上市公司未来对标的公司的具体整合计划及管控安排，结合交易完成 后标的公司和上市公司董事、高级管理人员构成和委派情况及各自职权范围、 董事会和股东会决策权限划分、董事会决议作出机制等，补充披露上市公司能 有效控制标的公司并纳入合并报表范围的依据。 请独立财务顾问、律师事务所核查上述事项并发表明确意见。 问题回复： （一）结合上市公司 ...

Group 1 - The core point of the article is that Aopumai's acquisition of Pengli Bio reflects the collective anxiety within the biopharmaceutical industry, as both companies face performance pressures, making the merger appear as a means of mutual support during an industry downturn [2][7] - Aopumai plans to acquire Pengli Bio for 1.451 billion yuan, using a combination of cash and shares, with the board approving the proposal by a vote of 6 to 1, where the dissenting vote raised concerns about the necessity of the acquisition at this stage [2][3] - The acquisition features a differentiated valuation pricing model, where different types of shareholders receive varying valuations based on their roles and risk exposure, which is a departure from the traditional single valuation approach [3][4] Group 2 - Approximately 15 investors in the acquisition face a situation where the acquisition price corresponds to a valuation lower than their investment valuation, indicating a significant drop in value [4][11] - The acquisition valuation of 1.451 billion yuan represents a 54.94% decrease from Pengli Bio's pre-IPO financing valuation of 3.22 billion yuan, highlighting a significant decline in perceived value [11] - Aopumai's core business has shown a revenue increase of 22.26% to 297 million yuan in 2024, but the net profit has decreased by 61.04% to 21.05 million yuan, indicating underlying financial challenges [8][10] Group 3 - Both Aopumai and Pengli Bio are positioned within the CXO industry, facing similar growth challenges and complementing each other's business models, which enhances the strategic rationale for the merger [7][13] - The acquisition includes a performance commitment mechanism where 31 shareholders are involved, requiring Pengli Bio to achieve specific profit targets over the next three years, which adds a layer of accountability to the transaction [6][12] - The independent director's dissenting vote signals a cautious approach to the transaction, questioning the strategic necessity and potential financial burden of the acquisition on Aopumai [2][13]

Core Viewpoint - Aopu Mai is planning to acquire 100% of Chengli Bio for a combination of cash and stock, raising up to 730 million yuan, despite having significant cash reserves and a low debt ratio. The acquisition has raised concerns due to the presence of a dissenting independent director and discrepancies in valuation among different stakeholders [1][4][15]. Group 1: Acquisition Details - Aopu Mai intends to acquire Chengli Bio for a total valuation of 1.45 billion yuan, with a significant portion of the payment being in shares and cash [5][6]. - The acquisition involves 31 different counterparties, with notable discrepancies in the pricing offered to different stakeholders, leading to a "same stock different price" situation [6][8]. - Chengli Bio's financial performance has been declining, with projected net profit for 2024 expected to drop by 30% compared to the previous year [3][4]. Group 2: Financial Performance - Aopu Mai's revenue for 2023 and 2024 is reported at 243 million yuan and 297 million yuan, respectively, with year-on-year changes of -17.41% and +22.26% [2]. - The net profit for Aopu Mai has significantly decreased, with a drop of 48.72% in 2023 and 61.04% in 2024, leading to concerns about the necessity of the acquisition [2][3]. - Chengli Bio's revenue for 2022, 2023, and 2024 is reported at 256 million yuan, 318 million yuan, and 331 million yuan, respectively, with net profits of 57 million yuan, 65 million yuan, and 45 million yuan [3]. Group 3: Governance and Compliance Issues - An independent director, Tao Hua'an, voted against the acquisition, citing a lack of necessity for the merger at this stage, although specific reasons were not disclosed [4][5]. - Concerns have been raised regarding the relationship between the controlling shareholder of Chengli Bio and the largest stakeholder in the acquiring company, which may affect the compliance and governance of the transaction [10][13][14]. - The valuation discrepancies and the relationships among the stakeholders raise questions about the fairness and transparency of the acquisition process [8][13].