Core Viewpoint - BrightGene Bio-Medical Technology Co., Ltd. is issuing shares to specific investors to enhance its capital structure and support its growth strategy in the pharmaceutical industry. Group 1: Company Overview - Company Name: BrightGene Bio-Medical Technology Co., Ltd. [1] - Registered Capital: 422.465 million yuan [1] - Stock Code: 688166 [1] - Listing Location: Shanghai Stock Exchange Sci-Tech Innovation Board [1] - Established: October 26, 2001 [3] - Listing Date: November 8, 2019 [3] - Main Business: The company focuses on innovative pharmaceuticals, emphasizing research and development in generic drugs, complex formulations, and original new drugs [3][4]. Group 2: Business Model and Product Portfolio - The company operates a full industry chain from raw materials to high-difficulty intermediates and specialty APIs, extending into the formulation sector [5]. - Key therapeutic areas include antiviral, antifungal, immunosuppressive, respiratory, oncology, and metabolic diseases [4]. - Core products in the antiviral field include Entecavir and Oseltamivir, while in the antifungal field, key products include Caspofungin and Micafungin Sodium [4]. Group 3: Financial Data - Total Assets as of March 31, 2025: 528,527.33 million yuan [8] - Total Liabilities as of March 31, 2025: 266,925.64 million yuan [8] - Total Equity as of March 31, 2025: 261,601.69 million yuan [8] - Revenue for Q1 2025: 24,895.98 million yuan [9] - Net Profit for 2024: 14,126.33 million yuan [9] Group 4: Share Issuance Details - Type of Shares: Domestic listed ordinary shares (A shares) with a par value of 1.00 yuan [28]. - Issuance Price: 22.36 yuan per share [25]. - Total Amount to be Raised: Up to 500 million yuan [28]. - Use of Proceeds: To supplement working capital and repay bank loans [28].

Company Overview - The company, 博瑞生物医药 (Suzhou) Co., Ltd., primarily engages in the research, production, and sales of high-end generic active pharmaceutical ingredients (APIs) and formulations, maintaining a strong competitive position in niche markets [3][11] - As of March 2025, the company reported total assets of 52.85 billion yuan and equity of 26.16 billion yuan, with a debt-to-asset ratio of 43.95% [5][11] - The company has a robust R&D capability, with a 25.42% year-on-year increase in R&D investment in 2024, accounting for 24.31% of its revenue [6][20] Financial Performance - In 2024, the company achieved an operating income of 2.49 billion yuan, with a gross profit margin of 43.95%, although both figures showed a decline compared to the previous year [16][20] - The revenue from the API segment was 8.85 billion yuan, while the formulation segment contributed 1.38 billion yuan, indicating a growing share of formulation sales [17][20] - The company’s total debt has been increasing, and significant investments in ongoing projects may pose challenges if market conditions change [5][7] Market Position and Competitive Landscape - The company maintains stable partnerships with major players like Teva and 恒瑞医药, benefiting from increased demand for antifungal and immunosuppressive products [6][7] - The company’s products are primarily exported, with 46.10% of its revenue coming from international sales, making it susceptible to fluctuations in global trade and currency exchange rates [7][8] - The pharmaceutical manufacturing industry is experiencing a transformation, with ongoing price governance and procurement policies impacting revenue and profit margins [14][15] R&D and Innovation - The company is advancing its pipeline of innovative drugs, including BGM0504 injection, which is in phase III clinical trials for diabetes and weight loss indications [20] - In 2024, the company received 33 new domestic and international patent authorizations, enhancing its competitive edge in the market [6][20] - The company’s focus on both generic and innovative drugs positions it well to capitalize on the growing demand for pharmaceuticals driven by an aging population and increasing healthcare needs [14][15] Industry Trends - The pharmaceutical manufacturing industry is expected to grow due to rising disposable incomes and an aging population, despite challenges from external trade dynamics [13][14] - The industry is characterized by high R&D costs and long product development cycles, necessitating strong financial and technical capabilities for sustained competitiveness [14][15] - Recent government policies aimed at supporting innovation in drug development are likely to create opportunities for companies with strong R&D capabilities [15]