君实生物董事会通过2026年半年报及转让美国子公司TopAlliance 75%股权（作价1500万美元）等多项议案

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility
for the contents of this announcement, make no representation as to its accuracy or completeness and expressly
disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the
contents of this announcement.

SHANGHAI JUNSHI BIOSCIENCES CO., LTD.*
上海君實生物醫藥科技股份有限公司

(a joint stock company incorporated in the People ’s Republic of China with limited liability)

(Stock code: 1877)

OVERSEAS REGULATORY ANNOUNCEMENT
This announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of
Securities on The Stock Exchange of Hong Kong Limited.
Reference is made to the “ Shanghai Junshi Biosciences Co., Ltd.* Announcement on the
Resolutions of the Twenty-second Meeting of the Fourth Session of the Board of Directors”,
“ Shanghai Junshi Biosciences Co., Ltd.* Special Report on the Deposit, Management and
Actual Use of Proceeds for the First Half of 2026”, “Shanghai Junshi Biosciences Co., Ltd.*
Announcement on Transfer of Equity Interests in a Subsidiary” and “Shanghai Junshi Biosciences
Co., Ltd.* Announcement on the Estimate of Routine Related-Party Transactions ” published
by Shanghai Junshi Biosciences Co., Ltd.* on the website of the Shanghai Stock Exchange, for
reference purpose only. The following is a translation of the official announcement solely for the
purpose of providing information. Should there be any discrepancies, the Chinese version will
prevail.
By order of the Board
Shanghai Junshi Biosciences Co., Ltd.*
Mr. Xiong Jun
Chairman
Shanghai, the PRC, 26 August 2026

As at the date of this announcement, the Board of Directors of the Company comprises Mr. Xiong
Jun, Dr. Li Ning, Dr. Zou Jianjun, Mr. Li Cong, Mr. Zhang Zhuobing, Dr. Wang Gang and Dr. Li
Xin as executive Directors; Dr. Yao Sheng and Mr. Tang Yi as a non-executive Director; and Dr.
Feng Xiaoyuan, Mr. Li Zhongxian, Ms. Lu Kun, Dr. Yang Jin and Mr. Chen Liang as independent
non-executive Directors.
*

For identification purposes only

Stock Code: 688180

Stock Abbreviation: Junshi Bio

Announcement No.: Lin 2026-047

Shanghai Junshi Biosciences Co., Ltd.*
Announcement on the Resolutions of the Twenty‑second
Meeting of the Fourth Session of the Board of Directors
The board of directors and all directors of the Company warrant that the contents
of this announcement do not contain any false or misleading representation or material
omission, and shall undertake legal liabilities in accordance with the law for the
truthfulness, accuracy and completeness of the contents herein.

I. Convening of the Board Meeting
The twenty-second meeting of the fourth session of the board of directors (the
“Board”) of Shanghai Junshi Biosciences Co., Ltd. (the “Company”) was convened on
26 August 2026 by way of on-site meeting combined with voting by correspondence.
The notice of this meeting was sent to all directors by email on 21 July 2026. The
meeting was chaired by Mr. Xiong Jun, the chairman of the Board. 14 directors were
to attend, and 14 directors attended the meeting. The convening and holding procedures
of this meeting complied with the relevant provisions of the Company Law of the
People’s Republic of China and the Articles of Association of Shanghai Junshi
Biosciences Co., Ltd., and the resolutions passed at the meeting are legal and valid.
II. Consideration of Resolutions at the Meeting of the Board
(I) “Resolution on the 2026 Interim Report and its Summary” was considered
and approved
The 2026 interim report of the Company comprises the A Share interim report and
the H Share interim report. Among them, the A Share interim report comprises the full
text of the 2026 Interim Report and the summary of the 2026 Interim Report, which
were prepared in accordance with the requirements of the relevant laws and regulations
of Chinese Mainland. For details, please refer to the announcement published by the

Company on the same day on the website of the Shanghai Stock Exchange
(www.sse.com.cn); the H Share interim report comprises the interim results
announcement for the six months ended 30 June 2026 and the 2026 Interim Report,
which were prepared in accordance with the requirements of the Rules Governing the
Listing of Securities on The Stock Exchange of Hong Kong Limited, among others. For
details of the interim results announcement for the six months ended 30 June 2026,
please refer to the announcement published by the Company on the same day on the
website of the Hong Kong Stock Exchange (www.hkexnews.hk).
This resolution has been considered and approved by the Audit Committee of the
Board of the Company, which agreed to submit it to the Board for consideration.
Voting Result: For: 14, Against: 0, Abstain: 0.
(II) “Resolution on Special Report on the Deposit, Management and Actual
Use of Proceeds for the First Half of 2026” was considered and approved
Voting Result: For: 14, Against: 0, Abstain: 0.
For details, please refer to the announcement published by the Company on the
same day on the website of the Shanghai Stock Exchange (www.sse.com.cn).
(III) “Resolution on the Interim Evaluation Report on the 2026 Action Plan
for Enhancing Quality and Efficiency with a Focus on Returns” was considered
and approved
Voting Result: For: 14, Against: 0, Abstain: 0.
For details, please refer to the announcement published by the Company on the
same day on the website of the Shanghai Stock Exchange (www.sse.com.cn).
(IV) “Resolution on the Termination of the 2026 A Share Employee Stock
Ownership Scheme” was considered and approved
Pursuant to the Guiding Opinions on the Pilot Implementation of Employee Stock
Ownership Plans by Listed Companies, the “Guideline No. 1 for the Application of
Self-regulatory Rules for Companies Listed on the STAR Market of the Shanghai Stock
Exchange – Standardized Operation”, and other laws, regulations and regulatory
documents, the Company, having given the matter careful and prudent consideration,
and with a view to better safeguarding the interests of the Company, its shareholders

and its employees, resolved to terminate the 2026 A Share Employee Stock Ownership
Scheme, together with the accompanying administrative measures for the employee
stock ownership scheme and other related documents applicable to the 2026 A Share
Employee Stock Ownership Scheme.
This resolution has been considered and approved by the Remuneration and
Appraisal Committee of the Board, which agreed to submit it to the Board for
consideration.
Voting Result: For: 14, Against: 0, Abstain: 0.
For details, please refer to the announcement published by the Company on the
same day on the website of the Shanghai Stock Exchange (www.sse.com.cn).
(V) “Resolution on the Fulfillment of the Conditions for the First Vesting
Period under 2025 H Share Option Incentive Scheme of the Company” was
considered and approved
The Company convened the first extraordinary general meeting of 2025 on 29
September 2025, at which the Resolution on the 2025 H Share Option Incentive Scheme
of the Company was considered and approved, resolving to adopt the 2025 H Share
Option Incentive Scheme. For details, please refer to the relevant announcement
published by the Company on the website of The Stock Exchange of Hong Kong
Limited on 2 September 2025. On 2 September 2025, the Company conditionally
granted an aggregate of 13,210,000 H share options to 10 selected participants at a price
of HK$32.30 per H Share, with all H share options granted to vest in two equal tranches.
The vesting conditions for the first vesting period under this incentive scheme have
been fulfilled, and the number of share options actually vested as at 2 September 2026
is 6,605,000. The above-mentioned selected participants may exercise their share
options during the exercise period in accordance with the relevant provisions of this
incentive scheme.
This resolution has been considered and approved by the Remuneration and
Appraisal Committee of the Board, which agreed to submit it to the Board for
consideration.
Voting Result: For: 7, Against: 0, Abstain: 0. Being selected participants

conditionally granted share options under the 2025 H Share Option Incentive Scheme,
the connected directors Li Ning, Zou Jianjun, Li Cong, Zhang Zhuobing, Wang Gang,
Li Xin and Yao Sheng abstained from voting on this resolution.
(VI) “Resolution on the Transfer of Equity Interests in a Subsidiary” was
considered and approved
Voting Result: For: 14, Against: 0, Abstain: 0.
For details, please refer to the announcement published by the Company on the
same day on the website of the Shanghai Stock Exchange (www.sse.com.cn).
(VII) “Resolution on the Estimates of Routine Related-party Transactions”
was considered and approved
This resolution has been considered and approved by the special meeting of the
independent non-executive directors, which agreed to submit it to the Board for
consideration.
Voting Result: For: 12, Against: 0, Abstain: 0. The connected directors Li Ning
and Yao Sheng abstained from voting on this resolution.
For details, please refer to the announcement published by the Company on the
same day on the website of the Shanghai Stock Exchange (www.sse.com.cn).
Announcement is hereby given.

Shanghai Junshi Biosciences Co., Ltd.*
Board of Directors
27 August 2026

Stock Code: 688180

Stock Abbreviation: Junshi Bio

Announcement No.: Lin 2026-048

Shanghai Junshi Biosciences Co., Ltd.*
Special Report on the Deposit, Management and
Actual Use of Proceeds for the First Half of 2026
The board of directors and all directors of the Company warrant that the contents
of this announcement do not contain any false or misleading representation or material
omission, and shall undertake legal liabilities in accordance with the law for the
truthfulness, accuracy and completeness of the contents herein.

The deposit, management and actual use of proceeds for the first half of 2026 (the
“reporting period”) are specified as follows by the Board of Directors (the “Board of
Directors”) of Shanghai Junshi Biosciences Co., Ltd. (“the Company”) in accordance
with the China Securities Regulatory Commission (“CSRC”) Regulatory Rules for
Raised Funds of Listed Companies (《上市公司募集資金監管規則》), the Guideline
No. 1 for the Application of Self-regulatory Rules for Companies Listed on the STAR
Market of the Shanghai Stock Exchange – Standardized Operation (《上海證券交易
所科創板上市公司自律監管指引第1號——規範運作》), the Rules Governing the
Listing of Stocks on the STAR Market of the Shanghai Stock Exchange (《上海證券
交易所科創板股票上市規則》) and relevant regulations:
I. Overview of the Proceeds
In accordance with the Approval Regarding the Registration of Shares Issued by
Shanghai Junshi Biosciences Co., Ltd. to Target Subscribers (Zheng Jian Xu Ke [2022]
No.2616) (《關於同意上海君實生物醫藥科技股份有限公司向特定對象發行股票
註冊的批覆》（證監許可[2022]2616號）) issued by the CSRC, the Company was
approved to issue 70,000,000 RMB-denominated ordinary shares to target subscribers

at an issue price of RMB53.95 per share, with the total proceeds amounting to
RMB3,776,500,000.00. After deducting issuance expenses of RMB31,697,205.06 in
aggregate

(VAT-exclusive),

the

actual

net

proceeds

amounted

to

RMB3,744,802,794.94, and the actual amount received was RMB3,759,350,000.00,
including other unpaid issuance expenses of RMB14,547,205.06 (“refinancing
proceeds”). The above funds have become fully available on 23 November 2022. RSM
China CPA LLP has verified the availability of the proceeds from the issuance of shares
to target subscribers and issued the Capital Verification Report (Rong Cheng Yan Zi
[2022] No. 230Z0337) on 24 November 2022. Upon receipt, the refinancing proceeds
have been deposited in full in the special account for proceeds established by the
Company.
Overview Table of the Refinancing Proceeds
Unit: 0’000 Currency: RMB
Name of the issuance

Issuance of A shares to target subscribers in
2022

Date of receipt of the proceeds

23 November 2022

Reporting period

1 January 2026 to 30 June 2026
Item

Amount

I. Total proceeds
Including: Surplus proceeds
Less: Direct issuance expenses
II. Net proceeds

377,650.00
0
3,169.72
374,480.28

Less:
Amount used in previous years

139,251.11

Amount used in the current year

20,040.61

Amount temporarily used to replenish liquidity

24,337.52

Bank charges and exchange gains and losses

6.68

Add:
Interest income from the proceeds

11,079.79

III. The balance of proceeds as at the end of the
reporting period

201,924.14

Including: Amount under cash management

164,052.79

Note: The difference between the total and the sum of each item is due to rounding.

II. The Management of the Proceeds

In order to standardize the management and usage of the proceeds, improve the
efficiency and effectiveness in the use of funds and protect the interests of investors,
the Company formulated the Management Policies for Proceeds of Shanghai Junshi
Biosciences Co., Ltd. 《
( 上海君實生物醫藥科技股份有限公司募集資金管理制度》)
in accordance with the Company Law of the People’s Republic of China (《中華人民
共和國公司法》), the Securities Law of the People’s Republic of China (《中華人民
共和國證券法》), the Regulatory Rules for Raised Funds of Listed Companies (《上
市公司募集資金監管規則》 ), the Guideline No. 1 for the Application of Selfregulatory Rules for Companies Listed on the STAR Market of the Shanghai Stock
Exchange — Standardized Operation (《上海證券交易所科創板上市公司自律監管
指引第1號——規範運作》) and other applicable laws, regulations and normative
documents, based on its actual situation, making specific and clear provisions on the
deposit, use and supervision of the proceeds.
Pursuant to relevant laws, regulations and normative documents, the Company has
entered into the Tripartite Agreements on the Supervision of Special Deposit Accounts
for Proceeds (《募集資金專戶存儲三方監管協議》) with sponsor institutions and the
commercial banks in which the refinancing proceeds are deposited; and entered into the
Quadripartite Agreement on Supervision of Special Deposit Accounts for Proceeds
(《募集資金專戶存儲四方監管協議》) with the subsidiaries implementing the
investment projects, sponsor institutions and the commercial banks in which the
proceeds are deposited. The above tripartite and quadripartite agreements on the
supervision of special deposit accounts for proceeds do not have material difference
from the Tripartite Agreements on the Supervision of Special Deposit Accounts for
Proceeds (Template) (《募集資金專戶存儲三方監管協議（範本）》) of the Shanghai
Stock Exchange. The Company has strictly complied with such agreements in utilizing
the refinancing proceeds.

As of 30 June 2026, the deposit of the refinancing proceeds is as follows:
Table on Deposit of the Refinancing Proceeds
Unit: 0’000 Currency: RMB
Name of the issuance

Issuance of A shares to target
subscribers in 2022

Date of receipt of the proceeds

23 November 2022

Name of Account

Name of Bank

Bank Account
No.

Balance as at
the End of the
Reporting
Period

Status of
the
Account

Shanghai
Junshi
Biosciences Co., Ltd.

China Merchants
Bank, Shanghai
Changle
Subbranch*1

755928673210860

74,475.04

In use

Shanghai
Junshi
Biosciences Co., Ltd.

China Merchants
Bank, Shanghai
Zhangjiang Subbranch

755928673210718

1,062.43

In use

Shanghai
Junshi
Biosciences Co., Ltd.

Shanghai Bank,
Nanhui
Subbranch*2

03005139887

103,367.45

In use

Shanghai
Junshi
Biosciences Co., Ltd.

Shanghai Pudong
Development
Bank, Nanjing
Yuhua
Subbranch

932200788015000
02135

3,021.42

In use

Suzhou
Junmeng
Biosciences Co., Ltd.

China Merchants
Bank, Shanghai
Changle
Subbranch

512907597610520

0.00

Suzhou
Union
Biopharm Co., Ltd.

China Merchants
Bank, Shanghai
Changle
Subbranch

512908464210001

13,396.31

In use

Suzhou
Junjing
Biosciences Co., Ltd.

China Merchants
Bank, Shanghai
Changle
Subbranch

121940622910555

781.06

In use

Shanghai
JunTop
Biosciences Co., Ltd.

Bank of Beijing,
Shanghai Yangpu
Technology Subbranch

200001058064001
91749280

5,820.43

In use

Cancelled

Total

201,924.14

/

*Note 1: The balance at China Merchants Bank, Changle Sub-branch included RMB structured
deposits of RMB500,000,000;
*Note 2: The balance at Shanghai Bank, Nanhui Sub-branch included RMB structured deposits of
RMB400,000,000.

III. Actual Use of the Proceeds during the Reporting Period
(I) Comparison table on the use of the proceeds raised
The Company used the proceeds in strict compliance with the requirements of
relevant laws, regulations and normative documents such as the Regulatory Rules for
Raised Funds of Listed Companies (《上市公司募集資金監管規則》) and the
Guideline No. 1 for the Application of Self-regulatory Rules for Companies Listed on
the STAR Market of the Shanghai Stock Exchange – Standardized Operation (《上海
證券交易所科創板上市公司自律監管指引第1號——規範運作》). As of 30 June
2026, the specific use of the Company’s refinancing proceeds is set out in Schedule 1:
Comparison Table on the Use of the Refinancing Proceeds.
(II) Upfront investment and replacement of funds for designated projects
On 30 August 2024, the “Resolution on the Use of Self-owned Funds for Staff
Payment of Designated Projects and the Use of Self-owned Foreign Exchange and Bank
Acceptance Bills for Payments for Designated Projects and the Replacement of Such
Funds with Proceeds in an Equivalent Amount” (《關於使用自有資金支付募投項目
人員費用，使用自有外匯、 銀行承兌匯票支付募投項目所需資金並以募集資金
等額置換的議案》) was considered and approved at the second meeting of the fourth
session of the Board of Directors and the second meeting of the fourth session of the
Board of Supervisors, where consent was given for the Company to, based on the
implementation of the designated projects, use its self owned funds for payment of staff
remuneration and expenses for the designated projects, and use its self-owned foreign
exchange and bank acceptance bills for payments required for the designated projects.
Subsequently, such funds will be replaced with proceeds in an equivalent amount,

which will be deposited to the relevant accounts of the Company from the special
accounts for proceeds. Such replaced amount in an equivalent amount will be regarded
as funds used for the designated projects. The sponsor institution of the Company issued
specific verification opinions. For details, please refer to the “Announcement on the
Use of Self owned Funds for Staff Payment of Designated Projects and the Use of Selfowned Foreign Exchange and Bank Acceptance Bills for Payments for Designated
Projects and the Replacement of Such Funds with Proceeds in an Equivalent Amount”
(《關於使用自有資金支付募投項目人員費用，使用自有外匯、銀行承兌匯票支付
募投項目所需資金並以募集資金等額置換的公告》) (Announcement No.: Lin 2024053) disclosed by the Company on the website of Shanghai Stock Exchange
(www.sse.com.cn) on 31 August 2024.
During the reporting period, the Company used its self-owned funds for payment
of staff remuneration and expenses for the designated projects, and used its self-owned
foreign exchange and bank acceptance bills for payments required for the designated
projects, and replaced such funds with proceeds in an equivalent amount of
RMB11,532,900.
(III) Use of idle proceeds to temporarily replenish liquidity
On 27 March 2025, the Resolution on the Temporary Replenishment of Liquidity
by Using Part of the Idle Proceeds (《關於使用部分閒置募集資金暫時補充流動資
金的議案》) was considered and approved at the seventh meeting of the fourth session
of the Board of Directors and the fifth meeting of the fourth session of the Board of
Supervisors, where consent was given for the Company to use idle proceeds of no more
than RMB2,000,000,000 (inclusive) to temporarily replenish the liquidity of the
Company, and the proceeds will only be used for business expansion, daily operation
and production and operation related to the main business of the Company for a term
of no more than 12 months from the date of the approval by the Board of Directors of
the Company. The Company will return the borrowed funds back to the special account
for proceeds in a timely manner according to the progress and needs of the investment

projects funded with proceeds. The sponsor institution issued specific verification
opinions. For details, please refer to the Announcement on the Temporary
Replenishment of Liquidity by Using Part of the Idle Proceeds (《關於使用部分閒置
募集資金暫時補充流動資金的公告》) (Announcement No.: Lin 2025-015) disclosed
by the Company on the website of the Shanghai Stock Exchange (www.sse.com.cn) on
28 March 2025. The Company actually used idle proceeds totaling RMB1,106,341,600
to temporarily replenish liquidity within the stipulated period, and has returned the
aforesaid idle proceeds of RMB1,106,341,600 used for the temporary replenishment of
liquidity to the special account for proceeds in full. For details, please refer to the
Announcement on the Return of Idle Proceeds Used for Temporary Replenishment of
Liquidity ( 《 關 於 歸 還 暫 時 用 於 補 充 流 動 資 金 的 閒 置 募 集 資 金 的 公 告 》 )
(Announcement No.: Lin 2026-008) disclosed by the Company on the website of the
Shanghai Stock Exchange (www.sse.com.cn) on 13 March 2026.
On 13 March 2026, the Resolution on the Temporary Replenishment of Liquidity
by Using Part of the Idle Proceeds (《關於使用部分閒置募集資金暫時補充流動資
金的議案》) was considered and approved at the seventeenth meeting of the fourth
session of the Board of Directors, where consent was given for the Company to use idle
proceeds of no more than RMB1,500,000,000 (inclusive) to temporarily replenish the
liquidity of the Company, and the proceeds will only be used for business expansion,
daily operation and production and operation related to the main business of the
Company for a term of no more than 12 months from the date of the approval by the
Board of Directors of the Company. The Company will return the borrowed funds back
to the special account for proceeds in a timely manner according to the progress and
needs of the investment projects funded with proceeds. The sponsor institution of the
Company issued specific verification opinions. For details, please refer to the
Announcement on the Temporary Replenishment of Liquidity by Using Part of the Idle
Proceeds ( 《 關 於 使 用 部 分 閒 置 募 集 資 金 暫 時 補 充 流 動 資 金 的 公 告 》 )
(Announcement No.: Lin 2026-011) disclosed by the Company on the website of the

Shanghai Stock Exchange (www.sse.com.cn) on 14 March 2026.
As of 30 June 2026, the amount of idle proceeds used by the Company to
temporarily replenish liquidity was RMB243,375,200.
Detailed Table on Idle Proceeds Used to Temporarily Replenish Liquidity
Unit: 0’000 Currency: RMB
Name of the issuance

Issuance of A shares to target subscribers in 2022

Date of receipt of the proceeds

23 November 2022

Amount of
Temporary
Replenishme
nt of
Liquidity

Start Date of
Temporary
Replenishme
nt of
Liquidity

Planned
Duration of
Replenishme
nt

Date of
Approval by
the Board of
Directors

Date of
Return of
Proceeds

Amount of
Proceeds
Returned

110,634.16

Date
of
approval by
the Board of
Directors

No more than
12 months

27
March
2025

11
March
2026

110,634.16

24,337.52

Date
of
approval by
the Board of
Directors

No more than
12 months

13
March
2026

/

/

(IV) Conduct cash management of idle proceeds and invest in relevant products
On 27 November 2025, the Resolution on Cash Management by Using
Temporarily Idle Proceeds (《關於使用暫時閑置募集資金進行現金管理的議案》)
was considered and approved at the fifteenth meeting of the fourth session of the Board
of Directors, where consent was given for the Company to manage its cash by using
temporarily idle proceeds not exceeding RMB2.4 billion (inclusive) to purchase
principal-guaranteed investment products with high security and good liquidity
(including but not limited to call deposits, time deposits, agreement deposits, portfolio
deposits, certificates of deposit, structured deposits, etc.), provided that it does not
affect the normal progress of the Company’s investment plans funded with the proceeds
raised, which was valid for 12 months from the date of consideration and approval by
the Board of Directors. Within the aforesaid amount and term, the Company could use
the proceeds on a revolving basis. For details, please refer to the Announcement on

Cash Management by Using Temporarily Idle Proceeds (《關於使用暫時閑置募集資
金進行現金管理的公告》) (Announcement No.: Lin 2025-068) disclosed by the
Company on the website of Shanghai Stock Exchange (www.sse.com.cn) on 28
November 2025.
Name of the issuance

Issuance of A shares to target
subscribers in 2022

Date of receipt of the proceeds

23 November 2022

Planned
Amount for
Cash
Management

Planned Method of Cash
Management

Planned
Start
Date

Planned
End Date

Date of
Approval
by the
Board of
Directors

Not exceeding
RMB2.4 billion
(inclusive)

Purchase of principal-guaranteed
investment products with high
security and good liquidity
(including but not limited to call
deposits, time deposits, agreement
deposits,
portfolio
deposits,
certificates of deposit and structured
deposits, etc.)

Date of
approval
by the
Board of
Director
s

12 months
from the
date
of
approval
by
the
Board of
Directors

27
November
2025

As of 30 June 2026, the balance of temporarily idle proceeds utilized for
conducting cash management was RMB1,640,527,900. The details are as follows:
Detailed Table on Cash Management of Proceeds
Unit: 0’000 Currency: RMB
Name of the issuance

Issuance of A shares to target subscribers in 2022

Date of receipt of the proceeds

23 November 2022

Client

Shanghai
Junshi
Biosciences
Co., Ltd.

Trustee
Bank

Product Name

Type
of
Prod
uct

China
Merchants
Bank,
Shanghai
Changle
Sub-branch

Gold-Linked
Series
Bullish
Two-tier 30-day
Structured
Deposit of China
Merchants Bank
(招商銀行點金
系列看漲兩層區

Struc
tured
depos
it

Purchase
Amount

Start
Date

End
Date

Retu
rn
Date

Amount
Not Yet
Returned

Expect
ed
Annua
l Yield

10,000.00

15
June
2026

15
July
2026

15
July
2026

10,000.00

1% or
1.45%

間 30 天結構性
存款)

China
Merchants
Bank,
Shanghai
Changle
Sub-branch

Gold-Linked
Series
Bullish
Two-tier 32-day
Structured
Deposit of China
Merchants Bank
(招商銀行點金
系列看漲兩層區
間 32 天結構性
存款)

Struc
tured
depos
it

Shanghai
Junshi
Biosciences
Co., Ltd.

China
Merchants
Bank,
Shanghai
Changle
Sub-branch

Gold-Linked
Series
Bullish
Two-tier 61-day
Structured
Deposit of China
Merchants Bank
(招商銀行點金
系列看漲兩層區
間 61 天結構性
存款)

Struc
tured
depos
it

Shanghai
Junshi
Biosciences
Co., Ltd.

China
Merchants
Bank,
Shanghai
Zhangjiang
Sub-branch

/

Agre
emen
t
depos
it

Shanghai
Junshi
Biosciences
Co., Ltd.

Shanghai
Pudong
Developme
nt
Bank,
Nanjing
Yuhua Subbranch

/

Agre
emen
t
depos
it

Shanghai
Junshi
Biosciences
Co., Ltd.

Shanghai
Bank,
Nanhui Subbranch

/

Agre
emen
t
depos
it

Shanghai
Junshi
Biosciences
Co., Ltd.

Shanghai
Bank,
Nanhui Subbranch

Shanghai Bank
“Steady
Progress” No. 3
Tranche

Struc
tured
depos
it

Shanghai
Junshi
Biosciences
Co., Ltd.

10,000.00

4
June
2026

6
July
2026

6
July
2026

10,000.00

1% or
1.45%

30,000.00

14
May
2026

14
July
2026

14
July
2026

30,000.00

1% or
1.55%

1,062.43

24
June
2026

26
Nove
mber
2026

26
Nove
mber
2026

1,062.43

0.35%

3,021.42

14
Marc
h
2026

26
Nove
mber
2026

26
Nove
mber
2026

3,021.42

0.45%

63,367.45

27
Nove
mber
2025

9
July
2026

9
July
2026

63,367.45

0.55%

12,000.00

21
May
2026

19
Augu
st
2026

19
Augu
st
2026

12,000.00

1.00%
or
1.55%
or

SDG22603M182
A
structured
deposit product
Shanghai
Junshi
Biosciences
Co., Ltd.

Shanghai
Bank,
Nanhui Subbranch

Shanghai
JunTop
Biosciences
Co., Ltd.

Bank
of
Beijing,
Shanghai
Yangpu
Technology
Sub-branch

Suzhou
Junjing
Biosciences
Co., Ltd.

China
Merchants
Bank,
Shanghai
Changle
Sub-branch

1.65%

Shanghai Bank
“Steady
Progress” No. 3
structured
deposit product

Struc
tured
depos
it

/

Agre
emen
t
depos
it

/

Agre
emen
t
depos
it

28,000.00

18
June
2026

16
Septe
mber
2026

16
Septe
mber
2026

28,000.00

1% or
1.55%
or
1.65%

5,820.43

4
Dece
mber
2025

26
Nove
mber
2026

26
Nove
mber
2026

5,820.43

0.65%

781.06

2
Febru
ary
2026

26
Nove
mber
2026

26
Nove
mber
2026

781.06

0.45%

(V) The circumstance of surplus proceeds being used for projects under
construction and new projects (including the acquisition of assets, etc.) or the
repurchase and cancellation of the Company’s shares
During the Reporting Period, the Company had not used surplus proceeds for
projects under construction and new projects (including the acquisition of assets, etc.)
or the repurchase and cancellation of the Company’s shares.
(VI) Use of saved proceeds
During the Reporting Period, the Company did not use the saved proceeds of the
designated projects for other designated projects or non-designated projects.
(VII) Other uses of proceeds
During the Reporting Period, the Company had no other uses of proceeds.
IV. Change of Use of Proceeds for Designated Projects
On 30 May 2024, the Resolution on Changes in and Adjustment of Amounts of
Certain Designated Sub-projects (《關於部分募投項目子項目變更及金額調整的議
案》) was considered and approved at the thirty-second meeting of the third session of

the Board of Directors and the twenty-third meeting of the third session of the Board of
Supervisors of the Company, where consent was given for the Company to adjust
certain clinical trial sub-projects and the amount of proceeds to be invested in such subprojects under the “R&D projects of innovative drugs” of the designated projects of the
issuance of A shares to target subscribers in 2022, without adjusting the total amount of
proceeds to be invested. For details of the specific changes in and adjustment of
amounts, and their reasons, feasibility analysis, impacts on the Company as well as risk
warnings, please refer to the Announcement on Changes in and Adjustment of Amounts
of Certain Designated Sub-projects (《關於部分募投項目子項目變更及金額調整的
公告》) (Announcement No.: Lin 2024-030) disclosed by the Company on the website
of the Shanghai Stock Exchange (www.sse.com.cn) on 31 May 2024. The sponsor
institution issued specific verification opinions on the above matters. On 21 June 2024,
the Company convened the 2023 annual general meeting, the 2024 first class meeting
of A shareholders and the 2024 first class meeting of H shareholders, where the above
changes in the designated projects were considered and approved.
On 29 May 2025, the Resolution on Changes in and Adjustment of Amounts of
Certain Designated Sub-projects (《關於部分募投項目子項目變更及金額調整的議
案》) was considered and approved at the ninth meeting of the fourth session of the
Board of Directors and the seventh meeting of the fourth session of the Board of
Supervisors of the Company, where consent was given for the Company to adjust
certain clinical trial sub-projects and the amount of proceeds to be invested in such subprojects under the “R&D projects of innovative drugs” of the designated projects of the
issuance of A shares to target subscribers in 2022, without adjusting the total amount of
proceeds to be invested. For details of the specific changes in and adjustment of
amounts, and their reasons, feasibility analysis, impacts on the Company as well as risk
warnings, please refer to the Announcement on Changes in and Adjustment of Amounts
of Certain Designated Sub-projects (《關於部分募投項目子項目變更及金額調整的
公告》) (Announcement No.: Lin 2025-029) disclosed by the Company on the website

of the Shanghai Stock Exchange (www.sse.com.cn) on 30 May 2025. The sponsor
institution issued specific verification opinions on the above matters. On 20 June 2025,
the Company convened the 2024 annual general meeting, where the above changes in
the designated projects were considered and approved.
On 21 April 2026, the Resolution on the Addition of an Implementing Entity for
Certain Designated Sub-projects 《
( 關於新增部分募投項目子項目實施主體的議案》)
was considered and approved at the eighteenth meeting of the fourth session of the
Board of Directors of the Company, where consent was given for the Company to add
its wholly-owned subsidiary, Ningbo Junyan Hongshi Biomedical Technology Co.,
Ltd.* ( 寧 波 君 研 弘 實 生 物 醫 藥 科 技 有 限 公 司 , “Junyan Hongshi”), as the
implementing entity for certain sub-projects under the “R&D projects of innovative
drugs” of the designated projects of the issuance of A shares to target subscribers in
2022, without changing the intended use and total amount of proceeds to be invested.
For details, please refer to the Announcement on the Addition of an Implementing
Entity for Certain Designated Sub-projects (《關於新增部分募投項目子項目實施主
體的公告》) (Announcement No.: Lin 2026-024) disclosed by the Company on the
website of the Shanghai Stock Exchange (www.sse.com.cn) on 22 April 2026.
On 5 June 2026, the Resolution on the Change in the Equity Structure of the
Implementing Entity for Certain Designated Sub-projects (《關於部分募投項目子項
目實施主體股權結構變更的議案》) was considered and approved at the twentieth
meeting of the fourth session of the Board of Directors of the Company. As the
Company’s subsidiary, Junyan Hongshi, intends to introduce Ningbo Yongyuan
Xinglun Junjin Venture Capital Partnership (Limited Partnership) (寧波甬元興侖君金
創業投資合夥企業（有限合夥）), a controlled subsidiary of the Company, as an
investor through a capital increase and share expansion, Junyan Hongshi will change
from a wholly-owned subsidiary of the Company to a controlled subsidiary of the
Company. In view of the proposed adjustment to the equity structure of Junyan Hongshi,

the Company agreed to change the implementing entity of the relevant designated subprojects from a wholly-owned subsidiary of the Company to a controlled subsidiary of
the Company. For details, please refer to the Announcement on the Change in the Equity
Structure of the Implementing Entity for Certain Designated Sub-projects (《關於部分
募投項目子項目實施主體股權結構變更的公告》) (Announcement No.: Lin 2026033) disclosed by the Company on the website of the Shanghai Stock Exchange
(www.sse.com.cn) on 6 June 2026. The sponsor institution issued specific verification.
On 26 June 2026, the Company convened the 2025 annual general meeting, where the
above matter was considered and approved.
For details of the fund utilization for the changed designated projects, please refer
to “Schedule 2: Table on the Change of Use of the Refinancing Proceeds for Designated
Projects”.
V. Problems in the Use and Disclosure of Proceeds
The Company used the proceeds in accordance with the provisions and
requirements of relevant laws, regulations and normative documents, and disclosed the
use of the proceeds in a timely manner. There was no non-compliance in the use of the
proceeds.
Announcement is hereby given.

Shanghai Junshi Biosciences Co., Ltd.*
Board of Directors
27 August 2026

Schedule 1:
Comparison Table on the Use of the Refinancing Proceeds
Unit: 0’000 Currency: RMB
Issuance of A shares to target subscribers in 2022

Name of the issuance

23 November 2022

Date of receipt of the proceeds
Total proceeds invested during the

20,040.61

year
Cumulative

total

of

proceeds

159,291.73

invested
Total amount of proceeds with

269,937.39

purpose changed
Proportion

of

total

amount

of

72.08%

proceeds with purpose changed

Committed
investment
projects and
investment
with surplus
proceeds

Nature
of the
designa
ted
projects

R&D
projects of
innovative
drugs

Whethe
r the
project
has
been
change
d
(includi
ng
partial
changes
) (if
any)

Total
amount of
committed
investment
of proceeds

Total
amount of
investment
after
adjustment

Committed
amount
invested as
of the end
of the
period (1)

367,120.00

346,382.46

346,382.46

Amount
invested
during the
year

Accumulat
ed amount
invested as
of the end
of the
period (2)

16,944.10

131,193.92

Difference
between
accumulated
amount
invested and
committed
amount
invested as of
the end of the
period (3)=(2)(1)

Investm
ent
progres
s as of
the end
of the
period
(%)(4)=
(2)/(1)

-215,188.55

37.88

Change
R&D

of subprojects

Date
when the
project
meets the
scheduled
usable
status
(please
specify
the
month)

December
2028

Benefi
t
realize
d
during
the
year

Wheth
er the
expect
ed
benefit
s are
realize
d

Wheth
er
projec
t
feasibi
lity
has
change
d
signifi
cantly

N/A

N/A

No

Shanghai
Junshi

Producti

Biotech

on and

headquarters

construc

and R&D

tion

Nil

29,780.00

28,097.81

28,097.81

3,096.52

28,097.81

0

100.00

June 2026

396,900.00

374,480.28

374,480.28

20,040.61

159,291.73

-215,188.55

42.54

—

N/A

N/A

No

—

—

base project
Total
Reasons for
not meeting
the
scheduled
progress (by

N/A

specific
designated
projects)
Explanations
for
significant
changes

in

N/A

project
feasibility
Upfront
investment
and
replacement
of

For details, please refer to “III. Actual Use of the Proceeds during the Reporting Period - (II) Upfront investment and replacement of funds for designated projects” in this report

investment
in

projects

funded with
raised
proceeds
Temporary
replenishme
nt

of

liquidity
with

For details, please refer to “III. Actual Use of the Proceeds during the Reporting Period - (III) Use of idle proceeds to temporarily replenish liquidity” in this report

idle

proceeds
Conduct
cash
management
of

idle

proceeds and
invest

For details, please refer to “III. Actual Use of the Proceeds during the Reporting Period - (IV) Conduct cash management of idle proceeds and invest in relevant products” in this
report

in

relevant
products
Utilization of
surplus
proceeds for
permanent

Nil

replenishme
nt

of

liquidity and

repayment of
bank loans
Balance

of

proceeds and
the

reasons

Nil

therefor
Other uses of
proceeds

For details, please refer to “III. Actual Use of the Proceeds during the Reporting Period - (VII) Other uses of proceeds” in this report

Note: The difference between the total and the sum of each item is due to rounding.

Schedule 2:
Table on the Change of Use of the Refinancing Proceeds for Designated Projects
Unit: 0’000 Currency: RMB
Name of the issuance
Date of receipt of the
proceeds

Issuance of A shares to target subscribers in 2022
23 November 2022

Total
Projec
ts
after
the
chang
e

Corre

Natur

Loc

amount of

Accumulat

Invest

spond

e of

atio

proceeds

ed amount

Amount

ing

the

Implement

n of

proposed to

proposed to

actually

origin

design

ation

impl

be invested

be invested

invested

al

ated

entities

eme

in the

as of the

during

projec

projec

ntat

projects

end of the

the year

ts

ts

ion

after the

period (1)

Accumulat
ed amount
actually
invested (2)

ment
progr
ess
(%)
(3)=(2
)/(1)

change

Date

Whethe

when the

r

project
meets the
scheduled
usable
status
(please
specify
the

Whet
Benefi

her

t

the

realiz

expect

ed

ed

durin

benefi

g the

ts are

year

realiz
ed

month
and year)

R&D

R&D

project

projec

s

ts

of

of

innova

innova

tive

tive

drugs

drugs

feasibili
ty has
change
d
signific
antly
after
the
change

conside
ration
and
approv
al by

Date of
conside
ration
and
approv
al by

the
Board
of
Directo
rs

the
general
meetin
g

The

30 May

21 June

Company,

2024,

2024,

29 May

20 June

2025,

2025

21 April

and 26

Junjing,

2026

June

JunTop

and

Suzhou
R&D

project

Date of

Union,
Suzhou

/

346,382.46

346,382.46

16,944.10

131,193.92

37.88

December
2028

N/A

N/A

No

5

2026

Biosciences,

June

Junyan

2026

Hongshi

Total

346,382.46

346,382.46

16,944.10

131,193.92

-

-

-

-

-

-

In view of the R&D progress of its product candidates and subsequent market competition, in order to improve the efficiency and effectiveness of the use of
proceeds, optimize the allocation of resources, consolidate the R&D pipelines with greater potential of international development and better advantages in
competitive differentiation, and improve the commercialization income-generating capacity, the Company changed certain clinical R&D sub-projects under the
“R&D projects of innovative drugs”. On 30 May 2024, the Resolution on Changes in and Adjustment of Amounts of Certain Designated Sub-projects (《關於
部分募投項目子項目變更及金額調整的議案》) was considered and approved at the thirty-second meeting of the third session of the Board of Directors and
the twenty-third meeting of the third session of the Board of Supervisors of the Company, where consent was given for the Company to adjust certain clinical
Explanations

for

the

reasons, decision-making
procedures

and

information disclosure for
the changes (by specific
designated projects)

trial sub-projects and the amount of proceeds to be invested in such sub-projects under the “R&D projects of innovative drugs” of the designated projects of the
issuance of A shares to target subscribers in 2022, without adjusting the total amount of proceeds to be invested. In the process of using the proceeds, the
Company may adjust and make final determination of the specific designated projects to be invested by utilizing the proceeds, the order of priority, and the
specific investment amounts for each project based on the actual circumstances such as the progress of the designated projects and the capital demand. For
details of the specific changes in and adjustment of amounts, and their reasons, feasibility analysis, impacts on the Company as well as risk warnings, please
refer to the Announcement on Changes in and Adjustment of Amounts of Certain Designated Sub-projects (《關於部分募投項目子項目變更及金額調整的公
告》) (Announcement No.: Lin 2024-030) disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn) on 31 May 2024. The sponsor institution
issued verification opinions without any objection on the above matters. On 21 June 2024, the above changes in the designated projects were considered and
approved at the 2023 annual general meeting, the 2024 first class meeting of A shareholders and the 2024 first class meeting of H shareholders.
On 29 May 2025, the Resolution on Changes in and Adjustment of Amounts of Certain Designated Sub-projects (《關於部分募投項目子項目變更及金額調
整的議案》) was considered and approved at the ninth meeting of the fourth session of the Board of Directors and the seventh meeting of the fourth session of
the Board of Supervisors of the Company, where consent was given for the Company to adjust certain clinical trial sub-projects and the amount of proceeds to
be invested in such sub-projects under the “R&D projects of innovative drugs” of the designated projects of the issuance of A shares to target subscribers in

2022, without adjusting the total amount of proceeds to be invested. For details of the specific changes in and adjustment of amounts, and their reasons, feasibility
analysis, impacts on the Company as well as risk warnings, please refer to the Announcement on Changes in and Adjustment of Amounts of Certain Designated
Sub-projects (《關於部分募投項目子項目變更及金額調整的公告》) (Announcement No.: Lin 2025-029) disclosed on the website of the Shanghai Stock
Exchange (www.sse.com.cn) on 30 May 2025. The sponsor institution issued express verification opinions on the above matters. On 20 June 2025, the above
changes in the designated projects were considered and approved at the 2024 annual general meeting.
On 21 April 2026, the Resolution on the Addition of an Implementing Entity for Certain Designated Sub-projects (《關於新增部分募投項目子項目實施主體
的議案》) was considered and approved at the eighteenth meeting of the fourth session of the Board of Directors of the Company, where consent was given for
the Company to add its wholly-owned subsidiary, Junyan Hongshi, as the implementing entity for certain sub-projects under the “R&D projects of innovative
drugs” of the designated projects of the issuance of A shares to target subscribers in 2022, without changing the intended use and total amount of proceeds to be
invested. For details, please refer to the Announcement on the Addition of an Implementing Entity for Certain Designated Sub-projects (《關於新增部分募投
項 目 子 項 目 實 施 主 體 的 公 告 》 ) (Announcement No.: Lin 2026-024) disclosed by the Company on the website of the Shanghai Stock Exchange
(www.sse.com.cn) on 22 April 2026. The sponsor institution issued specific verification opinions on the above matter.
On 5 June 2026, the Resolution on the Change in the Equity Structure of the Implementing Entity for Certain Designated Sub-projects (《關於部分募投項目
子項目實施主體股權結構變更的議案》) was considered and approved at the twentieth meeting of the fourth session of the Board of Directors of the Company.
As the Company’s subsidiary, Junyan Hongshi, intends to introduce Ningbo Yongyuan Xinglun Junjin Venture Capital Partnership (Limited Partnership) ( 寧波
甬元興侖君金創業投資合夥企業（有限合夥）), a controlled subsidiary of the Company, as an investor through a capital increase and share expansion, Junyan
Hongshi will change from a wholly-owned subsidiary of the Company to a controlled subsidiary of the Company. In view of the proposed adjustment to the
equity structure of Junyan Hongshi, the Company agreed to change the implementing entity of the relevant designated sub-projects from a wholly-owned
subsidiary of the Company to a controlled subsidiary of the Company. For details, please refer to the Announcement on the Change in the Equity Structure of
the Implementing Entity for Certain Designated Sub-projects (《關於部分募投項目子項目實施主體股權結構變更的公告》) (Announcement No.: Lin 2026033) disclosed by the Company on the website of the Shanghai Stock Exchange (www.sse.com.cn) on 6 June 2026. The sponsor institution issued specific
verification opinions on the above matter. On 26 June 2026, the Company convened the 2025 annual general meeting, where the above matter was considered
and approved.

Details and reasons for not
meeting

the

scheduled

progress

(by

specific

N/A

designated project)
Explanations
significant

for
changes

in

project feasibility after the
change

Nil

Stock Code: 688180

Stock Abbreviation: Junshi Bio Announcement No.: Lin 2026-050

Shanghai Junshi Biosciences Co., Ltd.*
Announcement on Transfer of Equity Interests in a
Subsidiary
The board of directors and all directors of the Company warrant that the contents
of this announcement do not contain any false and misleading representation or material
omission, and shall undertake legal liabilities in accordance with the law for the
truthfulness, accuracy and completeness of the contents herein.
Important Notice:
⚫ Shanghai Junshi Biosciences Co., Ltd.* (上海君實生物醫藥科技股份有限
公 司 ) (the “Company”) proposes to transfer 656,250 shares of its wholly-owned
subsidiary, TopAlliance Biosciences Inc. (“TopAlliance”), to Particle Future Venture
Fund I, L.P. and Great Valley Creek LLC (collectively, the “Counterparties”) at a price
of US$15 million, while the Counterparties propose to subscribe for the newly issued
shares of TopAlliance, totaling US$5 million, based on a pre-money valuation of US$20
million. Upon completion of this transaction, the Company will hold 20% of the shares
of TopAlliance, and each of Particle Future Venture Fund I, L.P. and Great Valley Creek
LLC will hold 40% of the shares of TopAlliance. TopAlliance will cease to be
consolidated into the Company’s consolidated financial statements.
⚫ This transaction does not constitute a related party transaction, nor does it
constitute a material asset restructuring as defined under the Measures for
Administration of Material Asset Restructuring of Listed Companies* (《上市公司重
大資產重組管理辦法》).
⚫ This transaction is not subject to consideration at the general meeting.
⚫ This transaction is subject to approval by or filing with relevant authorities,
and fulfillment of the conditions precedent for closing under the agreement, which
remains uncertainty.

I. Transaction Overview
(I)

Basic information about this transaction

1. Overview of this transaction
Based on its strategic planning, the Company has adjusted its business layout, and
the relevant research, development and registration work originally undertaken by
TopAlliance has been transferred to Mainland China. To optimize the overall asset
allocation, reduce management costs, and align with its strategic planning and business
development needs, the Company proposes to enter into the SHARES PURCHASE
AGREEMENT (the “Transaction Agreement”) with TopAlliance, Particle Future
Venture Fund I, L.P. and Great Valley Creek LLC, pursuant to which the Company will
transfer 656,250 shares of its wholly-owned subsidiary, TopAlliance, at a price of
US$15 million, while the Counterparties propose to subscribe for the newly issued
shares of TopAlliance, totaling US$5 million, based on a pre-money valuation of US$20
million. Upon completion of this transaction, the Company will hold 20% of the shares
of TopAlliance, and each of Particle Future Venture Fund I, L.P. and Great Valley Creek
LLC will hold 40% of the shares of TopAlliance. TopAlliance will cease to be
consolidated into the Company’s consolidated financial statements.
2. Elements of this transaction
√ Disposal □ Waiver of rights of first refusal □ Waiver
Transaction
(may
of preemptive rights
choose more than one)
□ Others
Type of transaction
target (may choose √ Equity assets □ Non-equity assets
more than one)
Name of transaction
Equity interests in TopAlliance Biosciences Inc.
target
Whether any crossborder transaction is √ Yes □ No
involved
√ Determined, specific amount (RMB’0,000): 10,177.80
Note: The total consideration for the equity transfer will be
Transaction price of US$15 million, converted at 6.7852 (the central parity rate
the equity disposal
of the USD/RMB exchange rate published by the People’s
Bank of China) on 25 August 2026, the same as below.
□ Not yet determined

Book cost

RMB102,163.5 thousand (on a parent company basis)

Premium of transaction
RMB-385.5 thousand
price over book value
√ Lump-sum payment, with payment timing agreed as: at
Payment arrangements closing
□ Installment payment, with installment terms agreed as:
Whether
any
performance-based
□ Yes √ No
earn-out clause is
included
(II)

Voting results of the board of directors of the Company on the relevant
proposals for this transaction

The Company convened the twenty-second meeting of the fourth session of the
board of directors on 26 August 2026, at which the Proposal on Transfer of Equity
Interests in a Subsidiary was considered and approved.
(III)

Further approvals and other procedures required for the transaction
to become effective

This transaction does not constitute a related party transaction, nor does it
constitute a material asset restructuring as defined under the Measures for
Administration of Material Asset Restructuring of Listed Companies*. Pursuant to the
Rules Governing the Listing of Stocks on the STAR Market of Shanghai Stock
Exchange* (《上海證券交易所科創板股票上市規則》), the Articles of Association
and other relevant provisions, this transaction is not subject to consideration at the
general meeting. The transaction agreement will become effective upon due execution
by the relevant parties thereto.
II. Basic Information about the Counterparties
1. Counterparty I
Name
of
entity/organization

legal

Particle Future Venture Fund I, L.P.

Unified social credit code

□ _____________
√ N/A

Date of establishment

2021/11/29

Registered address

PO Box 309, Ugland House, Grand Cayman,
KY1-1104, Cayman Islands

Principal business address

5/F., Tack Building, 50 Gilman Street, Central,
Hong Kong

Registered capital

N/A

Principal business

Investment

Major shareholder/de
controller

facto

Lei Yang

Particle Future Venture Fund I, L.P. is a USD-denominated fund. As of 31 March
2026, it had total assets under management of US$109 million, with 8 invested projects
at a total investment cost of US$34.8 million, and the total value of its portfolio holdings
amounted to US$69.84 million. As of the date of this announcement, Particle Future
Venture Fund I, L.P. has fund reserves available for investment of more than US$50
million.
Particle Future Venture Fund I, L.P. is not a judgment defaulter. Save for this
transaction, there is no other relationship between it and the Company in terms of
property rights, business, assets, claims and debts, personnel, or otherwise.
2. Counterparty II
Name
of
entity/organization

legal

Great Valley Creek LLC

Unified social credit code

□ _____________
√ N/A

Date of establishment

2023/10/13
850 New Burton Road, Suite 201,
Dover, DE 19904 USA
850 New Burton Road, Suite 201,
Dover, DE 19904 USA

Registered address
Principal business address
Registered capital

N/A

Principal business

Investment

Major shareholder/de
controller

facto

John Zhang

Great Valley Creek LLC is a fund investment company comprised of sophisticated
investors. Its team has over a decade of investment experience in the technology sector,
with assets under management of approximately US$50 million. The company is
primarily engaged in investment and financing projects for technology enterprises,
covering aspects such as project evaluation, capital operation and post-investment

management, with a long-term focus on value investments in innovative technology
and real estate.
Great Valley Creek LLC is not a judgment defaulter. Save for this transaction, there
is no other relationship between it and the Company in terms of property rights,
business, assets, claims and debts, personnel, or otherwise.
III. Basic Information about the Transaction Target
(I)

Overview of the transaction target

1. Basic information about the transaction target
The target of this transaction is the equity interests in TopAlliance.
2. Ownership status of the transaction target
The ownership of the underlying assets is clear. There are no mortgages, pledges,
or any other restrictions on transfer, nor are there any pending litigation, arbitration, or
judicial measures such as seizure or freezing. There are no other circumstances that
would impede the transfer of ownership.
3. Details of the transaction target
(1) Basic information
Name
of
entity/organization

legal

Unified social credit code
Whether it is a subsidiary
within
the
scope
of
consolidation of the Company
Whether this transaction will
result in a change to the scope
of the consolidated statements
of the Company
Whether the Company has
provided guarantees for,
entrusted wealth management
to, or has funds occupied by,
the
majority-owned
subsidiary proposed to be deconsolidated
Date of establishment

TopAlliance Biosciences Inc.
□ _____________
√ N/A
√ Yes

□ No

√ Yes

□ No

Guarantees: □ Yes √ No □ N/A
Entrusted wealth management: □ Yes
N/A
Funds occupied: □ Yes √ No □ N/A

2013/3/6

√ No

□

Principal business address

9430 KEY WEST AVE, SUITE 125, ROCKVILLE,
20850 MD,USA

Registered capital

875,000 issued shares

Principal business

Industry classification

Pharmaceutical R&D, sales, and provision of related
services
Pursuant to the Guidelines on Industry
Classification of Listed Companies of the China
Association for Public Companies* (《中國上市公
司協會上市公司行業統計分類指引》), as of the
date of this announcement, the principal business of
TopAlliance falls under M73: Research and
Experimental Development and F51: Wholesale
Trade.

TopAlliance holds the rights to toripalimab in Singapore, the Hong Kong Special
Administrative Region of China, the European Union, and certain countries and regions
where marketing approval may be obtained in the future. Company maintains holding
the right to toripalimab in Mainland China and license with Coherus Oncology, Inc.,
Hikma MENA FZE, Dr.Reddy’s Laboratories Limited in over 50 countries and regions
including U.S., India and Australia etc.
As of the date of this announcement, the receivables of the Company and its
subsidiaries from TopAlliance and its subsidiaries in respect of, among others, the
transfer of rights to licensed pharmaceutical products, payments for pharmaceutical
products, and royalties of licensed pharmaceutical products amounted to approximately
RMB250.8550 million (unaudited), all of which were current operating transactions;
the payables of the Company and its subsidiaries to TopAlliance and its subsidiaries in
respect of, among others, labor service fees and external equity transaction payments
amounted to approximately RMB221.8760 million (unaudited). The Company and its
subsidiaries will subsequently settle with TopAlliance and its subsidiaries in accordance
with the terms of the relevant agreements.
(2) Shareholding structure
Prior to this transaction, TopAlliance is a wholly-owned subsidiary of the
Company.
After this transaction, the shareholding structure of TopAlliance will be as follows:

Name of shareholder

Type of shares

Number of
shares held

Shareholding
percentage

Shanghai Junshi
Biosciences Co., Ltd.*

Ordinary shares

218,750 shares

20.00%

437,500 shares

40.00%

437,500 shares

40.00%

Great Valley Creek LLC
Particle Future Venture
Fund I, L.P.

Class A preferred
shares
Class A preferred
shares

(II) Key financial information of the transaction target
Unit: RMB’0,000

Name of underlying assets

TopAlliance Biosciences Inc.

Type of underlying assets

Equity assets

Percentage
of
equity
interests involved in this 75
transaction (%)
January to June 2026/
Item
30 June 2026

2025/
31 December 2025

Total assets

33,341.95

32,714.18

Total liabilities

37,859.05

37,629.56

Net assets

-4,517.10

-4,915.39

Operating revenue

5,476.60

6,019.37

Net profit

-1,127.43

-4,092.21

Note 1: The relevant financial data represent the consolidated data of TopAlliance on a target
company basis.
Note 2: The financial data for period from January to June 2026 is unaudited. The financial
data for the year 2025 has been audited by Rongcheng Certified Public Accountants (Special
General Partnership) on a consolidated basis, and no separate audit report is issued.

TopAlliance has not undergone any asset valuation, capital increase, capital
reduction or restructuring within the last 12 months. TopAlliance is not a judgment
defaulter.
(III)

This transaction does not involve any transfer of creditor’s rights or debts.

IV. Valuation and Pricing of the Transaction Target
(I) Pricing and its basis
1. Pricing method and results of this transaction
Pursuant to the Valuation Advisory Report (Zhong Fa Zi Bao Zi [2026] No. 20020)

issued by DeveChina International Appraisals Co., Ltd.* (中發國際資產評估有限公
司), the value of shareholders’ equity of TopAlliance under the income approach is
US$19.60 million based on valuation. Upon negotiation and mutual agreement among
all parties on a voluntary, fair and reasonable basis, the consideration for the equity
interests in TopAlliance proposed to be transferred by the Company has been agreed at
US$15 million.
2. Valuation and pricing details of the underlying assets
Valuation advisory for equity interests in non-listed companies typically employs
value analysis techniques such as market approach, income approach and cost approach,
while taking into account factors such as liquidity discount and control premium in
estimating value. In light of the purpose of this economic transaction and valuation
advisory, the availability of data and market parameters, and the characteristics of the
target entity, the income approach is adopted for this valuation estimate.
The income approach valuation model adopts the discounted cash flow (DCF)
model of after-tax corporate cash flow. The fundamental approach is to estimate value
based on projected future income data: firstly, the DCF method under the income
approach is applied to estimate the value of operating assets under the projected future
income scenario; then, by taking into account the interest-bearing liabilities, surplus
assets, and non-operating assets or liabilities as of the valuation base date, the total
equity value of all shareholders of the target entity is ultimately derived.
Key Valuation Parameters: 1) determination of the discount rate. The discount rate
is determined using the Capital Asset Pricing Model (CAPM) and the Weighted Average
Cost of Capital (WACC), and is calculated at 13.5%. 2) determination of the forecast
period. TopAlliance holds the rights to toripalimab in Singapore, the Hong Kong
Special Administrative Region of China, the European Union, and potentially in other
countries and regions where marketing approval may be obtained in the future. Its
primary future source of revenue is expected to be income from the sale of toripalimab
within the licensed territory. Based on TopAlliance’s current operating status, business
characteristics, and market supply and demand conditions, it is projected to enter a
stable period in 2035. Accordingly, the forecast period is set at 9.5 years, with the period

after 2035 treated as a perpetuity.
(II)

Rationality analysis of the pricing

This pricing is determined by reference to the valuation advisory results upon
negotiation among all parties. The pricing is reasonable and fair, and there is no
circumstance that would prejudice the interests of the Company and its shareholders.
V. Main Contents of the Transaction Agreement
(I) Main contents of the agreement
1. Parties to the agreement
(1) TopAlliance Biosciences Inc.
(2) Shanghai Junshi Biosciences Co., Ltd.*
(3) Great Valley Creek LLC
(4) Particle Future Venture Fund I, L.P.
2. Share transfer and subscription
(1) Share transfer
At the time of closing, the Company shall sell, transfer, assign and deliver all rights,
title and interests in 328,125 ordinary shares at a transfer price of US$7.5 million to
each Counterparty, totaling 656,250 ordinary shares to be transferred to the
Counterparties at a total consideration of US$15 million. Such transferred shares shall
be reclassified as class A preferred shares prior to or at the time of closing.
(2) Share subscription
At the time of applicable closing, TopAlliance shall sell and issue US$2.5 million
of class A preferred shares to each Counterparty, with a pre-money valuation of US$20
million. The total investment price payable by the Counterparties is US$5 million.
(3) Advance payment for the transaction
Within twenty days after the date of execution of the transaction agreement, each
Counterparty shall pay US$1 million to the account designated by TopAlliance as an
advance payment for the transaction.
3. Closing
(1) Closing
The closing shall take place within ten business days after all closing conditions

set forth in the transaction agreement have been fulfilled or duly waived (except for
those that must be fulfilled at the time of closing, which may be fulfilled or waived at
the time of closing), as soon as practicable, or at such other time and place as may be
agreed in writing by all parties.
(2) Payment at closing
At the time of closing, the Counterparties shall pay their transfer consideration to
the account designated by the Company. The Counterparties shall pay their investment
price to the account designated by TopAlliance. Upon payment of the investment price,
the advance payment already made shall be deemed as part of the investment price, and
each Counterparty shall therefore pay the remaining amount after deducting the
advance payment.
At the time of closing, TopAlliance shall deliver to each Counterparty the share
certificates representing the transferred shares and newly issued shares; and the
resolutions of the board of directors and general meeting of TopAlliance approving the
transaction.
At the time of closing, TopAlliance shall deliver to the Company a share certificate
representing the remaining ordinary shares held by the Company.
If a Counterparty refuses to complete the closing, or if the transfer consideration
or investment price is not paid in full within the prescribed time, each of TopAlliance
and the Company shall have the right to terminate the transaction agreement
immediately by giving written notice to such Counterparty, and the advance payment
shall be deemed as compensation to TopAlliance and the Company and shall not be
refundable.
(3) Long-stop date
If the closing has not occurred by 31 December 2026 (the “Long-stop Date”) due
to reasons attributable to a Counterparty, each of TopAlliance and the Company shall
have the right to terminate the transaction agreement immediately by giving written
notice to such Counterparty, and in such event of termination, the advance payment
shall be deemed as compensation to TopAlliance and the Company and shall not be
refundable.

If the closing has not occurred by the Long-stop Date due to reasons attributable
to TopAlliance and/or the Company, the Counterparties shall have the right to terminate
the transaction agreement immediately by giving written notice to TopAlliance and the
Company, and in such event of termination, the advance payment shall be refunded.
If the closing has not occurred by the Long-stop Date due to force majeure, any
party shall have the right to terminate the transaction agreement immediately by giving
written notice to the other relevant parties, and in such event of termination, the advance
payment shall be refunded.
4. Conditions precedent for closing
(1) The Company and TopAlliance shall deliver to the Counterparties a
shareholders’ agreement in a form agreed by all parties, duly executed by the Company
and TopAlliance; (2) the amended articles shall have been duly adopted by TopAlliance
as of the date of closing; (3) all necessary consents, approvals, registrations,
declarations, filings, or other governmental authorizations required to be obtained or
made by the parties under applicable laws in connection with the transactions
contemplated under the transaction agreement shall have been obtained or made; (4)
the key personnel of TopAlliance shall have entered into an intellectual property
assignment agreement/provisions in a form agreed by all parties with TopAlliance; (5)
the representations and warranties of the parties shall be true and accurate as of the
applicable date of closing; and (6) since the date of execution, no material adverse effect
shall have occurred with respect to any party, nor shall there have occurred any material
breach under the transaction agreement.
5. Dispute resolution
All parties agree to conduct negotiations in good faith. If a dispute cannot be
resolved to the reasonable satisfaction of all parties within thirty days, such dispute
shall be submitted to the Hong Kong International Arbitration Centre for arbitration in
accordance with the prevailing arbitration rules, and the arbitral award shall be final
and binding.
VI. Impacts on the Company
(I) This transaction represents a review and optimization of the Company's

overseas assets based on its strategic planning adjustments. Upon the completion of this
transaction, TopAlliance will operate as a commercialization platform for the
Company’s product, toripalimab, to carry out subsequent business operations in certain
countries and regions. This transaction will help improve the Company’s asset structure,
optimize resource allocation, recover investment funds, reduce management costs and
enhance operational efficiency.
(II) Upon the completion of this transaction, the Company will hold 20% equity
interest in TopAlliance, and TopAlliance will cease to be consolidated into the
Company's consolidated financial statements. The Company will perform accounting
treatment in accordance with the relevant requirements of the Accounting Standards for
Business Enterprises, and the specific accounting treatment and the amount affected are
subject to the audit results of the accounting firm engaged by the Company.
(III)

This transaction does not constitute a related party transaction. This

transaction will not result in horizontal competition, nor will it result in non-operational
fund occupation with respect to the Company by the Company’s controlling
shareholder, de facto controller, or their associates.
VII.

Risk Warning

This transaction is subject to approval by or filing with relevant authorities, and
fulfillment of the conditions precedent for closing under the agreement. There remains
uncertainty as to whether the transaction will ultimately be successfully consummated.
Investors are advised to pay attention to investment risks.

Announcement is hereby given.

Shanghai Junshi Biosciences Co., Ltd.*
Board of Directors
27 August 2026

Stock Code: 688180

Stock Abbreviation: Junshi Bio

Announcement No.: Lin 2026-051

Shanghai Junshi Biosciences Co., Ltd.
Announcement on the Estimate of Routine RelatedParty Transactions
The board of directors and all directors of the Company warrant that there are
no false representations, misleading statements or material omissions in this
announcement, and severally and jointly accept legal responsibility for the
truthfulness, accuracy and completeness of its contents in accordance with the law.

Important:
⚫ Whether approval from general meeting of shareholders is required: No
⚫ Impact of the routine related-party transaction on the Listed Company: The
estimated routine related-party transaction are necessary for the daily operations of
Shanghai Junshi Biosciences Co., Ltd. ( the “Company”). The pricing of the relatedparty transactions follows market-based principles, and there are no circumstances that
would harm the interests of the Company and its shareholders. The transactions will not
affect the independence of the Company, nor will they lead to reliance on connected
persons.

I. Basic Information on the routine related-party transaction
(I) Review procedures for the routine related-party transaction
The Company convened the 22nd meeting of the fourth session of the Board of
Directors on August 26, 2026, at which the Proposal on the estimate of the routine
related-party transaction was considered and approved. Connected directors Mr. NING
LI and Mr. SHENG YAO abstained from voting. The total estimated amount of the
routine related-party transaction is RMB34,969,500, for the period from the date of
approval by the Board of Directors at this meeting until the effective date of the
resolution of the relevant meeting to consider the estimated amount of routine related1

party transaction for 2027.
The above proposal has been considered and approved at the 2026 second special
meeting of the independent non-executive directors of the fourth session of the Board
of Directors of the Company, and it has been agreed to submit it to the Company's Board
of Directors for consideration.
(II) Estimated Amount and Categories of the routine related-party transaction
Unit: 0’000 Currency: RMB
Category of Relatedparty Transaction
Selling products and
goods to connected
persons

Providing services to
connected persons

Receiving
services
from
connected
persons
Total

Related Party

Estimated
Amount for the
Period

As a percentage of
business of the
same category (%)

2,650.60

1.08

200.00

6.36

646.35

9.12

3,496.95

/

TopAlliance
Biosciences Inc.
and its
subsidiaries
TopAlliance
Biosciences Inc.
and its
subsidiaries
TopAlliance
Biosciences Inc.
and its
subsidiaries
/

Note 1: The Company may, based on actual business needs, reallocate the above
related-party transaction limits among different connected parties under common
control (including reallocation between different categories of related-party
transactions).
Note 2: The calculation basis of the percentage of the similar business is the
amount of the similar business occurred in 2025.
II. Basic Information on and Relationship with Related Parties
(I) Basic information on the connected persons
Name

TopAlliance Biosciences Inc.

Registered capital

875,000 issued shares

Date of Establishment

June 3, 2013
2

Principal office address

9430 KEY WEST AVE, SUITE 125,
ROCKVILLE, 20850 MD,USA

Principal Business

Research and development, sales of
pharmaceutical products, and provision of
related services

Main Shareholders or De Facto

As at the date of this announcement, the

Controller

Company held 100% of its equity interests.

Key Financial Data for the

Total assets was RMB327,141,800 and owners'
equity was RMB-49,153,900 as at December
31, 2025; and operating revenue was
RMB60,193,700 and net profit was RMB40,922,100 for 2025.

Latest Financial Year

(II) Connected Relationship
The Company intends to transfer part of its shares in TopAlliance Biosciences Inc.
(“TopAlliance”), and concurrently, TopAlliance intends to issue new shares to new
shareholders (the “Equity Transfer and Capital Increase”). Upon completion of the
Equity Transfer and Capital Increase, TopAlliance will no longer be included within the
scope of the Company's consolidated financial statements. In accordance with the Rules
Governing the Listing of Stocks on the Science and Technology Innovation Board of
the Shanghai Stock Exchange, as Mr. NING LI and Mr. SHENG YAO, directors of the
Company, also serve as directors or senior management members of TopAlliance,
TopAlliance will change from a wholly-owned subsidiary of the Company to a
connected entity of the Company.
(III) Analysis of Ability to Perform
Upon completion of the aforementioned equity transfer and capital increase,
TopAlliance will become an investee company of the Company. TopAlliance is an
entity duly incorporated and in normal operation and has the ability to perform its
obligations.
III. Main Content of the routine related-party transaction
(I) Main content of the related-party transactions
The main content of the Company's estimated routine related-party transaction for
3

this period is that the Company and its subsidiaries expect to sell licensed
pharmaceutical products to TopAlliance and its subsidiaries and receive sales sharing
on such licensed products within the licensed area, provide services to TopAlliance and
its subsidiaries, and receive services provided by TopAlliance and its subsidiaries. The
pricing for this transaction follows the principles of fairness, voluntariness and mutual
benefit, is based on market prices, and will be determined through negotiation between
the parties. There are no circumstances that would harm the interests of the Company
and all its shareholders.
(II) Status of Signing of Related-party Transaction Agreements
For the above routine related-party transaction, the Company will, within the
scope of the above estimates, enter into specific contracts or agreements with the
connected persons/entities in accordance with actual needs. The Company has entered
into certain transaction agreements with TopAlliance, and the agreements that have
been signed will continue to be performed as stipulated. The management of the
Company is authorized to re-sign related-party transaction contracts due to price
adjustments or new additions.
IV. Purpose of the routine related-party transaction and their Impact on the
Listed Company
(I) As at the date of this announcement, TopAlliance is a subsidiary within the
scope of the Company's consolidated financial statements. As the proposed transaction
is expected to result in TopAlliance no longer being included in the scope of the
consolidated financial statements and becoming a new connected person, this estimate
of routine related-party transaction is made to facilitate the normal conduct of
subsequent business.
(II) The estimated routine related-party transaction are necessary for the
Company's normal production and operation. The pricing of the related-party
transactions follows market-based principles, and there are no circumstances that would
harm the interests of the Company and all its shareholders.
(III) The estimated routine related-party transaction will not affect the Company's
independence. The Company's main business will not become reliant on connected
4

persons as a result of the aforesaid transactions, and there will be no adverse impact on
the Company's financial position or operating results.

This announcement is hereby made.

Shanghai Junshi Biosciences Co., Ltd.
The Board of Directors
August 27, 2026

5

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性
或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚
賴該等內容而引致的任何損失承擔任何責任。

SHANGHAI JUNSHI BIOSCIENCES CO., LTD.*
上海君實生物醫藥科技股份有限公司
（於中華人民共和國註冊成立的股份有限公司）

（股份代號：1877）

海外監管公告
本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條規則作出。
茲載列上海君實生物醫藥科技股份有限公司在上海證券交易所網站刊發之《上海
君實生物醫藥科技股份有限公司第四屆董事會第二十二次會議決議公告》、《上海
君實生物醫藥科技股份有限公司2026年半年度募集資金存放、管理與實際使用情
況的專項報告》、《上海君實生物醫藥科技股份有限公司關於轉讓子公司股權的公
告》、《上海君實生物醫藥科技股份有限公司關於日常關聯交易預計的公告》，僅供
參閱。
承董事會命
上海君實生物醫藥科技股份有限公司
熊俊先生
主席
中國，上海，2026年8月26日

於本公告日期，本公司董事會包括執行董事熊俊先生、李寧博士、鄒建軍博士、
李聰先生、張卓兵先生、王剛博士及李鑫博士；非執行董事姚盛博士及湯毅先
生；以及獨立非執行董事馮曉源博士、酈仲賢先生、魯琨女士、楊勁博士及陳良
先生。
* 僅供識別之用

证券代码：688180

证券简称：君实生物

公告编号：临 2026-047

上海君实生物医药科技股份有限公司
第四届董事会第二十二次会议决议公告
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。

一、董事会会议召开情况
上海君实生物医药科技股份有限公司（以下简称“公司”）第四届董事会第
二十二次会议于2026年8月26日以现场及通讯表决的方式召开。本次会议的通知
于2026年7月21日以邮件方式向各位董事发出。会议由董事长熊俊先生主持，应
出席董事14名，实际出席董事14名。本次会议的召集、召开程序符合《中华人民
共和国公司法》及《上海君实生物医药科技股份有限公司章程》的相关规定，会
议决议合法、有效。
二、董事会会议审议情况
（一）审议通过《关于<公司2026年半年度报告>及摘要的议案》
公司2026年半年度报告包括A股半年报和H股半年报。其中，A股半年报包括
2026年半年度报告全文和2026年半年度报告摘要，系根据中国境内相关法律法规
要求编制，详见公司同日披露于上海证券交易所网站（www.sse.com.cn）的公告；
H股半年报包括截至2026年6月30日止六个月的中期业绩公告和2026年中期报告，
系根据《香港联合交易所有限公司证券上市规则》等要求编制，2026年6月30日
止六个月的中期业绩公告详见公司同日披露于香港联合交易所网站
（www.hkexnews.hk）的公告。
本议案已经公司董事会审计委员会审议通过，并同意提交董事会审议。
表决结果：同意票14票，反对票0票，弃权票0票。
（二）审议通过《关于<2026年半年度募集资金存放、管理与实际使用情况
的专项报告>的议案》
表决结果：同意票14票，反对票0票，弃权票0票。

具体内容详见公司同日披露于上海证券交易所网站（www.sse.com.cn）的公
告。
（三）审议通过《关于<2026年度“提质增效重回报”行动方案的半年度评
估报告>的议案》
表决结果：同意票14票，反对票0票，弃权票0票。
具体内容详见公司同日披露于上海证券交易所网站（www.sse.com.cn）的公
告。
（四）审议通过《关于终止2026年A股员工持股计划的议案》
根据《关于上市公司实施员工持股计划试点的指导意见》《上海证券交易所
科创板上市公司自律监管指引第1号——规范运作》等法律法规、规范性文件，
为更好地维护公司、股东和员工利益，经慎重考虑，公司决定终止2026年A股员
工持股计划，与2026年A股员工持股计划配套的员工持股计划管理办法等文件一
并终止。
本议案已经董事会薪酬与考核委员会审议通过，并同意提交董事会审议。
表决结果：同意票14票，反对票0票，弃权票0票。
具体内容详见公司同日披露于上海证券交易所网站（www.sse.com.cn）的公
告。
（五）审议通过《关于公司2025年H股股票期权激励计划第一个归属期条件
成就的议案》
公司于2025年9月29日召开2025年第一次临时股东大会审议通过《关于<公司
2025年H股股票期权激励计划>的议案》，决定采纳2025年H股股票期权激励计划，
具体内容请详见公司于2025年9月2日披露在香港联合交易所有限公司网站上的
有关公告。公司于2025年9月2日有条件向10名激励对象授出合计13,210,000份H
股股票期权，每股H股32.30港元，所有授予的H股股票期权将分两期等额归属。
本激励计划第一个归属期归属条件已达成，2026年9月2日实际可归属股票期权数
量为6,605,000份，上述激励对象可以根据本激励计划的相关规定于行权期内进行
行权。
本议案已经董事会薪酬与考核委员会审议通过，并同意提交董事会审议。
表决结果：同意票7票，反对票0票，弃权票0票。作为2025年H股股票期权激

励计划有条件授予的激励对象，关联董事NING LI（李宁）、邹建军、李聪、张
卓兵、GANG WANG（王刚）、李鑫、SHENG YAO（姚盛）回避表决。
（六）审议通过《关于转让子公司股权的议案》
表决结果：同意票14票，反对票0票，弃权票0票。
具体内容详见公司同日披露于上海证券交易所网站（www.sse.com.cn）的公
告。
（七）审议通过《关于日常关联交易预计的议案》
本议案已经独立非执行董事专门会议审议通过，并同意提交董事会审议。
表决结果：同意票12票，反对票0票，弃权票0票，关联董事NING LI（李宁）、
SHENG YAO（姚盛）回避表决。
具体内容详见公司同日披露于上海证券交易所网站（www.sse.com.cn）的公
告。

特此公告。

上海君实生物医药科技股份有限公司
董事会
2026 年 8 月 27 日

证券代码：688180

证券简称：君实生物

公告编号：临 2026-048

上海君实生物医药科技股份有限公司
2026 年半年度募集资金存放、管理
与实际使用情况的专项报告
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。

根据中国证券监督管理委员会（以下简称“中国证监会”）《上市公司募集
资金监管规则》《上海证券交易所科创板上市公司自律监管指引第1号——规范
运作》和《上海证券交易所科创板股票上市规则》等相关规定，上海君实生物医
药科技股份有限公司（以下简称“公司”）董事会将公司2026年半年度（以下简
称“报告期”）募集资金存放、管理与实际使用情况专项说明如下：
一、募集资金基本情况
根据中国证监会出具的《关于同意上海君实生物医药科技股份有限公司向特
定对象发行股票注册的批复》（证监许可[2022]2616号），公司获准向特定对象
发行人民币普通股7,000.00万股，每股发行价格为人民币53.95元，募集资金总额
为人民币3,776,500,000.00元；扣除各项发行费用合计人民币31,697,205.06元（不
含增值税）后，实际募集资金净额为人民币3,744,802,794.94元。实际到账金额为
人民币3,759,350,000.00元，包括尚未支付的其他发行费用人民币14,547,205.06元
（以下简称“再融资募集资金”）。上述资金已于2022年11月23日到位，容诚会
计师事务所（特殊普通合伙）对公司本次向特定对象发行股票的资金到位情况进
行了审验，并于2022年11月24日出具了容诚验字[2022]230Z0337号《验资报告》。
再融资募集资金到账后，已全部存放于公司开设的募集资金专项账户内。
再融资募集资金基本情况表
单位：万元

币种：人民币

发行名称

2022 年度向特定对象发行 A 股股票

募集资金到账时间

2022 年 11 月 23 日

本次报告期

2026 年 1 月 1 日至 2026 年 6 月 30 日

项目

金额
377,650.00

一、募集资金总额

0

其中：超募资金金额

3,169.72

减：直接支付发行费用

374,480.28

二、募集资金净额
减：
以前年度已使用金额

139,251.11

本年度使用金额

20,040.61

暂时补流金额

24,337.52
6.68

银行手续费支出及汇兑损益
加：
募集资金利息收入

11,079.79

三、报告期期末募集资金余额

201,924.14

其中：现金管理金额

164,052.79

注：合计数与各明细数相加之和的尾数差异系四舍五入所致。

二、募集资金管理情况
为规范公司募集资金管理和使用，提高资金使用效率和效益，保护投资者权
益，根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司募集
资金监管规则》《上海证券交易所科创板上市公司自律监管指引第1号——规范
运作》等法律法规和规范性文件的规定，结合公司实际情况，公司制定了《上海
君实生物医药科技股份有限公司募集资金管理制度》，对募集资金的存放、使用
及监督等方面均做出了具体明确的规定。
根据相关法律法规和规范性文件的要求，公司已与保荐机构、存放再融资募
集资金的商业银行签署了《募集资金专户存储三方监管协议》；与实施募投项目
的子公司、保荐机构、存放募集资金的商业银行签订了《募集资金专户存储四方
监管协议》。上述募集资金三方、四方监管协议与上海证券交易所《募集资金专
户存储三方监管协议（范本）》不存在重大差异，公司在使用再融资募集资金时
已经严格遵照履行。
截至2026年6月30日，再融资募集资金存储情况如下：
再融资募集资金存储情况表
单位：万元
发行名称

币种：人民币

2022 年度向特定对象发行 A
股股票

2022 年 11 月 23 日

募集资金到账时间
账户名称

开户银行

银行账号

报告期末余额

账户状态

上海 君实 生物医 药
科技股份有限公司

招商银行上海长
乐支行*1

755928673210860

74,475.04

使用中

上海 君实 生物医 药
科技股份有限公司

招商银行上海张
江支行

755928673210718

1,062.43

使用中

上海 君实 生物医 药
科技股份有限公司

上海银行南汇支
行*2

03005139887

103,367.45

使用中

上海 君实 生物医 药
科技股份有限公司

上海浦东发展银
行南京雨花支行

932200788015000
02135

3,021.42

使用中

苏州 君盟 生物医 药
科技有限公司

招商银行上海长
乐支行

512907597610520

0.00

已注销

苏州 众合 生物医 药
科技有限公司

招商银行上海长
乐支行

512908464210001

13,396.31

使用中

苏州 君境 生物医 药
科技有限公司

招商银行上海长
乐支行

121940622910555

781.06

使用中

上海 君拓 生物医 药
科技有限公司

北京银行上海杨
浦科技支行

200001058064001
91749280

5,820.43

使用中

201,924.14

/

合计

*注 1：招商银行长乐支行余额中包括人民币结构性存款 50,000 万元；
*注 2：上海银行南汇支行余额中包括人民币结构性存款 40,000 万元。

三、本年度募集资金的实际使用情况
（一）募集资金使用情况对照表
公司严格按照《上市公司募集资金监管规则》《上海证券交易所科创板上市
公司自律监管指引第1号——规范运作》等有关法律法规和规范性文件的规定使
用募集资金。截至2026年6月30日，公司再融资募集资金具体使用情况详见“附
表1：再融资募集资金使用情况对照表”。
（二）募投项目先期投入及置换情况
公司于2024年8月30日召开的第四届董事会第二次会议及第四届监事会第二
次会议审议通过了《关于使用自有资金支付募投项目人员费用，使用自有外汇、
银行承兑汇票支付募投项目所需资金并以募集资金等额置换的议案》，同意公司
根据募投项目实施情况使用公司自有资金支付募投项目人员工资及费用，使用自
有外汇、银行承兑汇票支付募投项目所需资金，后续以募集资金等额置换，并从
募集资金专户划转至公司相关账户，该部分等额置换资金视同募投项目使用资金。
公司保荐机构出具了明确的核查意见。详细情况参见公司于2024年8月31日披露

于上海证券交易所网站（www.sse.com.cn）的《上海君实生物医药科技股份有限
公司关于使用自有资金支付募投项目人员费用及使用自有外汇、银行承兑汇票支
付募投项目所需资金并以募集资金等额置换的公告》（公告编号：临2024-053）。
报告期内，公司使用自有资金支付募投项目人员工资并以再融资募集资金置
换金额为人民币1,153.29万元。
（三）用闲置募集资金暂时补充流动资金情况
公司于2025年3月27日召开的第四届董事会第七次会议及第四届监事会第五
次会议审议通过了《关于使用部分闲置募集资金暂时补充流动资金的议案》，同
意公司使用闲置募集资金不超过人民币200,000万元（含本数）暂时补充流动资
金，并仅用于公司的业务拓展、日常经营等与主营业务相关的生产经营使用，使
用期限自公司董事会审议通过之日起不超过12个月。公司将根据募集资金投资项
目的进展及需求情况及时归还至募集资金专用账户。公司保荐机构出具了明确的
核查意见。详细情况参见公司已于2025年3月28日披露于上海证券交易所网站
（www.sse.com.cn）的《上海君实生物医药科技股份有限公司关于使用部分闲置
募集资金暂时补充流动资金的公告》（公告编号：临2025-015）。公司在规定期
限内实际使用了人民币110,634.16万元闲置募集资金暂时补充流动资金，并已将
上述暂时补充流动资金的人民币110,634.16万元闲置募集资金全部归还至募集资
金专用账户，详细情况参见公司已于2026年3月13日披露于上海证券交易所网站
（www.sse.com.cn）的《上海君实生物医药科技股份有限公司关于归还暂时用于
补充流动资金的闲置募集资金的公告》（公告编号：临2026-008）。
公司于2026年3月13日召开的第四届董事会第十七次会议审议通过了《关于
使用部分闲置募集资金暂时补充流动资金的议案》，同意公司使用闲置募集资金
不超过人民币150,000万元（含本数）暂时补充流动资金，并仅用于公司的业务拓
展、日常经营等与主营业务相关的生产经营使用，使用期限自公司董事会审议通
过之日起不超过12个月。公司将根据募集资金投资项目的进展及需求情况及时归
还至募集资金专用账户。公司保荐机构出具了明确的核查意见。详细情况参见公
司已于2026年3月14日披露于上海证券交易所网站（www.sse.com.cn）的《上海君
实生物医药科技股份有限公司关于使用部分闲置募集资金暂时补充流动资金的
公告》（公告编号：临2026-011）。

截至2026年6月30日，公司已使用闲置募集资金暂时补充流动资金的金额为
人民币24,337.52万元。
闲置募集资金临时补充流动资金明细表
单位：万元
发行名称

2022 年度向特定对象发行 A 股股票

募集资金到账时间

2022 年 11 月 23 日

币种：人民币

临时补充流
动资金金额

临时补充流
动资金起始
日期

计划补充流
动资金时长

董事会审议
通过日期

归还募集资
金日期

归还募集资
金金额

110,634.16

董事会审议
通过之日

不超过 12 个
月

2025 年 3 月
27 日

2026 年 3 月
11 日

110,634.16

24,337.52

董事会审议
通过之日

不超过 12 个
月

2026 年 3 月
13 日

/

/

（四）对闲置募集资金进行现金管理，投资相关产品情况
公司于2025年11月27日召开的第四届董事会第十五次会议，审议通过了《关
于使用暂时闲置募集资金进行现金管理的议案》，同意公司在保证不影响公司募
集资金投资计划正常进行的前提下，使用最高不超过人民币24亿元（包含本数）
的暂时闲置募集资金进行现金管理，用于购买安全性高、流动性好的保本型投资
产品（包括但不限于通知存款、定期存款、协定存款、组合存款、存单及结构性
存款等），自董事会审议通过之日起12个月内有效。在前述额度及期限范围内，
资金可以循环滚动使用。详细情况参见公司于2025年11月28日披露于上海证券交
易所网站（www.sse.com.cn）的《上海君实生物医药科技股份有限公司关于使用
暂时闲置募集资金进行现金管理的公告》（公告编号：临2025-068）。
发行名称

2022 年度向特定对象发行 A 股股票

募集资金到账时间

2022 年 11 月 23 日

计划进行现金
管理的金额

计划进行现金管理的方式

计划起
始日期

计划截止
日期

董事会审议
通过日期

不超过 24 亿元
（含本数）

购买安全性高、
流动性好的保本型
投资产品（包括但不限于通知存
款、定期存款、协定存款、组合存
款、存单及结构性存款等）

董事会
审议通
过之日

董事会审
议通过之
日起 12 个
月

2025 年 11
月 27 日

截至2026年6月30日，公司使用部分暂时闲置募集资金进行现金管理的余额
为人民币164,052.79万元，具体情况如下：

募集资金现金管理明细表
单位：万元
发行名称

2022 年度向特定对象发行 A 股股票

募集资金到账时间

2022 年 11 月 23 日

币种：人民币

购买金额

起始
日期

截止
日期

归还
日期

尚未归还
金额

预计年
化收益
率

委托方

受托银行

产品名称

产品
类型

上海君实生物
医药科技股份
有限公司

招商银行
上海长乐
支行

招商银行点金
系列看涨两层
区间 30 天结构
性存款

结构
性存
款

10,000.00

2026/
6/15

2026/
7/15

2026/
7/15

10,000.00

1%或
1.45%

上海君实生物
医药科技股份
有限公司

招商银行
上海长乐
支行

招商银行点金
系列看涨两层
区间 32 天结构
性存款

结构
性存
款

10,000.00

2026/
6/4

2026/
7/6

2026/
7/6

10,000.00

1%或
1.45%

上海君实生物
医药科技股份
有限公司

招商银行
上海长乐
支行

招商银行点金
系列看涨两层
区间 61 天结构
性存款

结构
性存
款

30,000.00

2026/
5/14

2026/
7/14

2026/
7/14

30,000.00

1%或
1.55%

上海君实生物
医药科技股份
有限公司

招商银行
上海张江
支行

/

协定
存款

1,062.43

2026/
6/24

2026/
11/26

2026/
11/26

1,062.43

0.35%

上海君实生物
医药科技股份
有限公司

上海浦东
发展银行
南京雨花
支行

/

协定
存款

3,021.42

2026/
3/14

2026/
11/26

2026/
11/26

3,021.42

0.45%

上海君实生物
医药科技股份
有限公司

上海银行
南汇支行

/

协定
存款

63,367.45

2025/
11/27

2026/
7/9

2026/
7/9

63,367.45

0.55%

上海君实生物
医药科技股份
有限公司

上海银行
南汇支行

上海银行“稳
进 ” 3 号 第
SDG22603M18
2A 结构性存款
产品

结构
性存
款

12,000.00

2026/
5/21

2026/
8/19

2026/
8/19

12,000.00

1.00% 或
1.55% 或
1.65%

上海君实生物
医药科技股份
有限公司

上海银行
南汇支行

上海银行“稳
进”3 号结构性
存款产品

结构
性存
款

28,000.00

2026/
6/18

2026/
9/16

2026/
9/16

28,000.00

1% 或
1.55% 或
1.65%

上海君拓生物
医药科技有限
公司

北京银行
上海杨浦
科技支行

/

协定
存款

5,820.43

2025/
12/4

2026/
11/26

2026/
11/26

5,820.43

0.65%

苏州君境生物
医药科技有限

招商银行
上海长乐

/

协定
存款

781.06

2026/
2/2

2026/
11/26

2026/
11/26

781.06

0.45%

公司

支行

（五）超募资金用于在建项目及新项目（包括收购资产等）或回购本公司股
份并注销的情况
报告期内，公司不存在超募资金用于在建项目及新项目（包括收购资产等）
或回购本公司股份并注销的情况。
（六）节余募集资金使用情况
报告期内，公司不存在将募投项目节余资金用于其他募集资金投资项目或非
募集资金投资项目的情况。
（七）募集资金使用的其他情况
报告期内，公司不存在募集资金使用的其他情况。
四、变更募投项目的资金使用情况
2024年5月30日，公司召开第三届董事会第三十二次会议、第三届监事会第
二十三次会议，审议通过了《关于部分募投项目子项目变更及金额调整的议案》，
同意对公司2022年度向特定对象发行A股股票募集资金投资项目之“创新药研发
项目”中的部分临床试验子项目及其募集资金投资金额进行调整，募集资金投资
总金额保持不变。变更及金额调整的具体情况、具体原因、可行性分析、对公司
的影响及风险提示等详见公司于2024年5月31日披露于上海证券交易所网站
（www.sse.com.cn）的《上海君实生物医药科技股份有限公司关于部分募投项目
子项目变更及金额调整的公告》
（公告编号：临2024-030）。保荐机构对上述事项
出具了明确的核查意见。2024年6月21日，公司召开2023年年度股东大会、2024
年第一次A股类别股东大会及2024年第一次H股类别股东大会，审议通过了上述
募投项目变更事项。
2025年5月29日，公司召开第四届董事会第九次会议、第四届监事会第七次
会议，审议通过了《关于部分募投项目子项目变更及金额调整的议案》，同意对
公司2022年度向特定对象发行A股股票募集资金投资项目之“创新药研发项目”
中的部分临床试验子项目及其募集资金投资金额进行调整，募集资金投资总金额
保持不变。变更及金额调整的具体情况、具体原因、可行性分析、对公司的影响
及 风 险 提 示 等 详 见 公 司 于 2025 年 5 月 30 日 披 露 于 上 海 证 券 交 易 所 网 站
（www.sse.com.cn）的《上海君实生物医药科技股份有限公司关于部分募投项目

子项目变更及金额调整的公告》
（公告编号：临2025-029）。保荐机构对上述事项
出具了明确的核查意见。2025年6月20日，公司召开2024年年度股东大会，审议
通过了上述募投项目变更事项。
公司于2026年4月21日召开第四届董事会第十八次会议，审议通过了《关于
新增部分募投项目子项目实施主体的议案》，同意新增公司全资子公司宁波君研
弘实生物医药科技有限公司（以下简称“君研弘实”）作为公司2022年度向特定
对象发行A股股票募投项目之“创新药研发项目”中部分子项目的实施主体，募
集资金投资用途和总金额保持不变。详细情况参见公司已于2026年4月22日披露
于上海证券交易所网站（www.sse.com.cn）的《上海君实生物医药科技股份有限
公司关于新增部分募投项目子项目实施主体的公告》（公告编号：临2026-024）。
公司于2026年6月5日召开第四届董事会第二十次会议，审议通过了《关于部
分募投项目子项目实施主体股权结构变更的议案》，由于公司子公司君研弘实拟
通过增资扩股方式引入公司控股子公司宁波甬元兴仑君金创业投资合伙企业（有
限合伙），君研弘实将由公司全资子公司变更为公司控股子公司。鉴于君研弘实
的股权结构拟发生调整，公司同意将涉及的部分募投项目子项目实施主体由公司
全资子公司变更为公司控股子公司。详细情况参见公司已于2026年6月6日披露于
上海证券交易所网站（www.sse.com.cn）的《上海君实生物医药科技股份有限公
司关于部分募投项目子项目实施主体股权结构变更的公告》
（公告编号：临2026033）。2026年6月26日，公司召开2025年年度股东会，审议通过了本事项。
变更募投项目的资金使用情况详见“附表2：变更再融资募集资金投资项目
情况表”。
五、募集资金使用及披露中存在的问题
公司按照相关法律、法规、规范性文件的规定和要求使用募集资金，并对募
集资金使用情况及时地进行了披露，不存在募集资金使用违规情形。
特此公告。
上海君实生物医药科技股份有限公司
董事会
2026 年 8 月 27 日

附表 1：
再融资募集资金使用情况对照表
单位：万元

币种：人民币

2022 年度向特定对象发行 A 股股票

发行名称

2022 年 11 月 23 日

募集资金到账日期
本年度投入募集资金总额

20,040.61

已累计投入募集资金总额

159,291.73

变更用途的募集资金总额

269,937.39
72.08%

变更用途的募集资金总额比例
承诺投资项目

募投

和超募资金投

项目

向

性质

创新药研发项
目
上海君实生物
科技总部及研
发基地项目

研发

生产
建设
合计

未达到计划进
度原因（分具

不适用

体募投项目）
项目可行性发
生重大变化的

不适用

已变更
项目，
含部分
变更
（如
有）
子项目
变更

无

本年度投入
金额

截至期末累
计投入金额
(2)

截至期末累计
投入金额与承
诺投入金额的
差额(3)＝(2)(1)

截至期
末投入
进度
（%）
(4)＝
(2)/(1)

募集资金承
诺投资总额

调整后投资
总额

截至期末承
诺投入金额
(1)

367,120.00

346,382.46

346,382.46

16,944.10

131,193.92

-215,188.55

37.88

29,780.00

28,097.81

28,097.81

3,096.52

28,097.81

0

100.00

396,900.00

374,480.28

374,480.28

20,040.61

159,291.73

-215,188.55

42.54

项目达到
预定可使
用状态日
期（具体
到月份）
2028 年
12 月
2026 年 6
月
—

本年度
实现的
效益

是否达
到预计
效益

项目可
行性是
否发生
重大变
化

不适用

不适用

否

不适用

不适用

否

—

—

情况说明
募集资金投资
项目先期投入

详情请见本报告“三、本年度募集资金的实际使用情况（二）募投项目先期投入及置换情况”

及置换情况
用闲置募集资
金暂时补充流

详情请见本报告“三、本年度募集资金的实际使用情况（三）用闲置募集资金暂时补充流动资金情况”

动资金情况
对闲置募集资
金进行现金管
理，投资相关

详情请见本报告“三、本年度募集资金的实际使用情况（四）对闲置募集资金进行现金管理，投资相关产品情况”

产品情况
用超募资金永
久补充流动资
金或归还银行

无

贷款情况
募集资金结余
的金额及形成

无

原因
募集资金其他
使用情况

详情请见本报告“三、本年度募集资金的实际使用情况（八）募集资金使用的其他情况”

注：合计数与各明细数相加之和的尾数差异系四舍五入所致。

附表 2：
变更再融资募集资金投资项目情况表
单位：万元

币种：人民币

2022 年度向特定对象发行 A 股股票

发行名称
募集资金到账日期

2022 年 11 月 23 日
投资

变更

对应

募投

后的

的原

项目

项目

项目

性质

实
施

实施主体

地
点

变更后项目

截至期末计

本年度实

拟投入募集

划累计投资

际投入金

资金总额

金额(1)

额

进度
实际累计投

（%

入金额(2)

）
(3)=(2
)/(1)

项目达到
预定可使
用状态日
期（具体
到年月）

变更后
本年

是否

的项目

度实

达到

可行性

现的

预计

是否发

效益

效益

生重大

董事会

股东会

审议通

审议通

过时间

过时间

变化
2024 年

创 新

创 新

药 研

药 研

发 项

发 项

目

目

公司、苏州
众合、苏州
研发

君境、君拓

/

346,382.46

346,382.46

16,944.10

131,193.92

37.88

生物、君研

2028 年 12

不适

不适

月

用

用

否

弘实

5 月 30

2024 年

日

6 月 21

、

2025 年

日

5 月 29

2025 年

日

6 月 20

、

、

2026 年

日

4 月 21

2026 年

日

6 月 26

、

2026 年

、

日

6月5日
合计

346,382.46

346,382.46

16,944.10

131,193.92

-

-

-

-

-

-

根据公司在研产品研发进度和后续市场竞争情况，为提高募集资金使用效率及效益，优化资源配置，聚集更有国际化潜力、更具差异化竞争优势的
研发管线，提高商业化造血能力，公司将“创新药研发项目”中的部分临床研发子项目进行变更。2024 年 5 月 30 日，公司召开第三届董事会第三
十二次会议、第三届监事会第二十三次会议，审议通过了《关于部分募投项目子项目变更及金额调整的议案》
，同意对公司 2022 年度向特定对象发
行 A 股股票募集资金投资项目之“创新药研发项目”中的部分临床试验子项目及其募集资金投资金额进行调整，募集资金投资总金额保持不变。在募
集资金使用过程中，公司可根据投资项目进度以及资金需求等实际情况，调整并最终决定募集资金的具体投资项目、优先顺序及各项目的具体投资
额。变更及金额调整的具体情况、具体原因、可行性分析、对公司的影响及风险提示等详见公司于 2024 年 5 月 31 日披露于上海证券交易所网站
（www.sse.com.cn）的《关于部分募投项目子项目变更及金额调整的公告》
（公告编号：临 2024-030）。保荐机构对上述事项出具了无异议的核查意
见。2024 年 6 月 21 日，公司召开 2023 年年度股东大会、2024 年第一次 A 股类别股东大会及 2024 年第一次 H 股类别股东大会，审议通过了上述
募投项目变更事项。
2025 年 5 月 29 日，公司召开第四届董事会第九次会议、第四届监事会第七次会议，审议通过了《关于部分募投项目子项目变更及金额调整的议
变更原因、决策程序及信
息披露情况说明（分具体
募投项目）

案》
，同意对公司 2022 年度向特定对象发行 A 股股票募集资金投资项目之“创新药研发项目”中的部分临床试验子项目及其募集资金投资金额进行
调整，募集资金投资总金额保持不变。变更及金额调整的具体情况、具体原因、可行性分析、对公司的影响及风险提示等详见公司于 2025 年 5 月
（公告编号：临 2025-029）。保荐机构对
30 日披露于上海证券交易所网站（www.sse.com.cn）的《关于部分募投项目子项目变更及金额调整的公告》
上述事项出具了明确的核查意见。2025 年 6 月 20 日，公司召开 2024 年年度股东大会，审议通过了上述募投项目变更事项。
2026 年 4 月 21 日，公司召开第四届董事会第十八次会议，审议通过了《关于新增部分募投项目子项目实施主体的议案》，同意新增公司全资子公司
君研弘实作为公司 2022 年度向特定对象发行 A 股股票募投项目之“创新药研发项目”中部分子项目的实施主体，募集资金投资用途和总金额保持
不变。详细情况参见公司已于 2026 年 4 月 22 日披露于上海证券交易所网站（www.sse.com.cn）的《上海君实生物医药科技股份有限公司关于新增
部分募投项目子项目实施主体的公告》
（公告编号：临 2026-024）。保荐机构对上述事项出具了明确的核查意见。
，由于公司子公司
2026 年 6 月 5 日，公司召开第四届董事会第二十次会议，审议通过了《关于部分募投项目子项目实施主体股权结构变更的议案》
君研弘实拟通过增资扩股方式引入公司控股子公司宁波甬元兴仑君金创业投资合伙企业（有限合伙），君研弘实将由公司全资子公司变更为公司控
股子公司。鉴于君研弘实的股权结构拟发生调整，公司同意将涉及的部分募投项目子项目实施主体由公司全资子公司变更为公司控股子公司。详细
情况参见公司已于 2026 年 6 月 6 日披露于上海证券交易所网站（www.sse.com.cn）的《上海君实生物医药科技股份有限公司关于部分募投项目子
项目实施主体股权结构变更的公告》
（公告编号：临 2026-033）
。保荐机构对上述事项出具了明确的核查意见。2026 年 6 月 26 日，公司召开 2025 年
年度股东会，审议通过了上述事项。

未达到计 划进度的情况
和原因（ 分具体募投项

不适用

目）

变更后的 项目可行性发
生重大变化的情况说明

无

证券代码：688180

证券简称：君实生物

公告编号：临 2026-051

上海君实生物医药科技股份有限公司
关于转让子公司股权的公告
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。

重要内容提示：
 上海君实生物医药科技股份有限公司（以下简称“公司”）拟向 Particle
Future Venture Fund I, L.P.、Great Valley Creek LLC（以下合称“交易对方”）以
1,500 万美元的价格转让全资子公司 TopAlliance Biosciences Inc.（以下简称“拓
普艾莱”）656,250 股股份；同时交易对方拟合计以 500 万美元，按照投前估值
2,000 万美元，认购拓普艾莱的新增股份。本次交易完成后，公司将持有拓普艾
莱 20%股份，Particle Future Venture Fund I, L.P.、Great Valley Creek LLC 将分别
持有拓普艾莱 40%股份，拓普艾莱将不再纳入公司合并报表范围。
 本次交易不构成关联交易，亦不构成《上市公司重大资产重组管理办法》
规定的重大资产重组。
 本次交易无需提交股东会审议。
 本次交易尚须取得有关部门的批准或备案、满足协议约定的交割先决条
件，尚存在不确定性。

一、交易概述
（一）本次交易的基本情况
1、本次交易概况
公司基于战略规划调整业务布局，原由拓普艾莱承担的相关研发及注册工作
已转移至国内进行。为优化整体资产配置，降低管理成本，综合考虑战略规划及
业务发展需要，公司拟与拓普艾莱、Particle Future Venture Fund I, L.P.、Great Valley
Creek LLC 签署《SHARES PURCHASE AGREEMENT》
（以下简称“交易协议”），
1

公司以 1,500 万美元的价格向交易对方转让全资子公司拓普艾莱 656,250 股股份；
同时交易对方拟合计以 500 万美元，按照投前估值 2,000 万美元，认购拓普艾莱
的新增股份。本次交易完成后，公司将持有拓普艾莱 20%股份，Particle Future
Venture Fund I, L.P.、Great Valley Creek LLC 将分别持有拓普艾莱 40%股份，拓
普艾莱将不再纳入公司合并报表范围。
2、本次交易的交易要素
交易事项（可多选）

√出售
□其他

□放弃优先受让权

交易标的类型（可多
√股权资产
选）

□放弃优先认购权

□非股权资产

交易标的名称

TopAlliance Biosciences Inc.股权

是否涉及跨境交易

√是

股权出售交易价格

√ 已确定，具体金额（人民币万元）：10,177.80
注：股权转让款合计 1,500 万美元，按照 2026 年 8 月
25 日的中国人民银行美元兑人民币汇率中间价 6.7852
折算，下同。
 尚未确定

账面成本

人民币 10,216.35 万元（母公司口径）

□否

交易价格与账面值相
人民币-38.55 万元
比的溢价情况
√ 全额一次付清，约定付款时点：交割时
支付安排
□ 分期付款，约定分期条款：
是否设置业绩对赌条
是 √否
款
（二）公司董事会审议本次交易相关议案的表决情况
公司于 2026 年 8 月 26 日召开第四届董事会第二十二次会议，审议通过《关
于转让子公司股权的议案》。
（三）交易生效尚需履行的审批及其他程序
本次交易事项不构成关联交易，亦不构成《上市公司重大资产重组管理办法》
规定的重大资产重组。根据《上海证券交易所科创板股票上市规则》及《公司章
程》等相关规定，本次交易无需提交股东会审议。本次交易协议经协议有关方有
效签署完成即生效。
二、交易对方的基本情况
1、交易对方一
2

法人/组织名称

Particle Future Venture Fund I, L.P.

统一社会信用代码

□ _____________
√ 不适用

成立日期

2021/11/29

注册地址
主要办公地址

PO Box 309, Ugland House, Grand Cayman,
KY1-1104, Cayman Islands
5/F., Tack
Building, 50 Gilman Street, Central,
Hong Kong

注册资本

不适用

主营业务

投资

主要股东/实际控制人

Lei Yang

Particle Future Venture Fund I, L.P.为一家美元基金，截至 2026 年 3 月 31 日，
在管资金总规模为 1.09 亿美元，已投资项目 8 个，总投资成本 3,480 万美元，所
投项目持有总价值为 6,984 万美元。截至本公告披露日，Particle Future Venture
Fund I, L.P.可投资资金储备超过 5,000 万美元。
Particle Future Venture Fund I, L.P.不是失信被执行人，除本次交易外，其与
公司之间不存在产权、业务、资产、债权债务、人员等方面的其他关系。
2、交易对方二
法人/组织名称

Great Valley Creek LLC

统一社会信用代码

□ _____________
√ 不适用

成立日期

2023/10/13

注册地址
主要办公地址

850 New Burton Road, Suite 201,
Dover, DE 19904 USA
850 New Burton Road, Suite 201,
Dover, DE 19904 USA

注册资本

不适用

主营业务

投资

主要股东/实际控制人

John Zhang

Great Valley Creek LLC 是由资深投资人组成的基金投资公司，其团队拥有十
余年科技领域投资经验，管理资产规模约 5,000 万美元，主要从事科技企业投资
融资项目，覆盖项目评估、资本运作和投后管理等环节，长期关注创新科技与不
动产价值投资。
3

Great Valley Creek LLC 不是失信被执行人，除本次交易外，其与公司之间不
存在产权、业务、资产、债权债务、人员等方面的其他关系。
三、交易标的基本情况
（一）交易标的概况
1、交易标的基本情况
本次交易标的为拓普艾莱的股权。
2、交易标的的权属情况
标的资产产权权属清晰，不存在抵押、质押及其他任何限制转让的情况，不
涉及诉讼、仲裁事项或查封、冻结等司法措施，不存在其他妨碍权属转移的情况。
3、交易标的具体信息
（1）基本信息
法人/组织名称

TopAlliance Biosciences Inc.

统一社会信用代码

□ _____________
√不适用

是否为上市公司合并范围
√是
内子公司
本次交易是否导致上市公
√是
司合并报表范围变更

□否
□否

担保：是 √否 □不适用
是否存在为拟出表控股子
公司提供担保、委托其理
委托其理财：是 √否 □不适用
财，以及该拟出表控股子公
司占用上市公司资金
占用上市公司资金：是 √否 □不适用
成立日期

2013/3/6

主要办公地址

9430 KEY WEST AVE, SUITE 125, ROCKVILLE,
20850 MD,USA

注册资本

已发行股份 875,000 股

主营业务

药品研发、销售，提供相关服务

所属行业

根据《中国上市公司协会上市公司行业统计分类
指引》，截至本公告披露日，拓普艾莱主要业务
所属行业为 M73 研究和试验发展及 F51 批发业

拓普艾莱拥有特瑞普利单抗在新加坡、中国香港特别行政区、欧盟，以及未
来可能获批上市的部分国家和地区的权益。公司继续拥有特瑞普利单抗在中国大
陆及与 Coherus Oncology, Inc.、Hikma MENA FZE、Dr.Reddy’s Laboratories Limited
4

等合作伙伴在包括美国、印度、澳大利亚等超过 50 个授权国家和地区的权益。
截至本公告披露日，公司及下属子公司应收拓普艾莱及其下属子公司许可药
品权益转让款、药品货款等约人民币 25,085.50 万元（未经审计），均为经营性往
来交易；公司及下属子公司应付拓普艾莱及其下属子公司人员劳务费、外部股权
交易款等约人民币 22,187.60 万元（未经审计）。公司及下属子公司后续将按照相
关协议的约定与拓普艾莱及其下属子公司进行结算。
（2）股权结构
本次交易前，拓普艾莱为公司全资子公司。
本次交易后，拓普艾莱股权结构：
股东名称

股份类别

持股数量

持股比例

上海君实生物医药科技股
份有限公司

普通股

218,750 股

20.00%

Great Valley Creek LLC

A 类优先股

437,500 股

40.00%

Particle Future Venture
Fund I, L.P.

A 类优先股

437,500 股

40.00%

（二）交易标的主要财务信息
单位：人民币 万元

标的资产名称

TopAlliance Biosciences Inc.

标的资产类型

股权资产

本次交易股权比例（%）

75

项目

2026 年 1-6 月/
2026 年 6 月 30 日

2025 年度/
2025 年 12 月 31 日

资产总额

33,341.95

32,714.18

负债总额

37,859.05

37,629.56

净资产

-4,517.10

-4,915.39

营业收入

5,476.60

6,019.37

净利润

-1,127.43

-4,092.21

注 1：相关财务数据为拓普艾莱按照交易标的口径下的合并数据
注 2：2026 年 1-6 月财务数据未经审计，2025 年年度财务数据已经容诚会计师事务所
（特殊普通合伙）在合并报表范围内审计，未单独出具审计报告。

最近 12 个月内拓普艾莱未进行资产评估、增资、减资或改制。拓普艾莱不
是失信被执行人。
5

（三）本次交易事项不涉及债权债务转移。
四、交易标的评估、定价情况
（一）定价情况及依据
1、本次交易的定价方法和结果
根据中发国际资产评估有限公司出具的《价值咨询报告》
（中发咨报字[2026]
第 20020 号），经测算采用收益法下拓普艾莱股东全部权益价值为 1,960 万美元。
各方在遵循自愿、公平合理的基础上协商一致，公司拟转让的拓普艾莱股权作价
为 1,500 万美元。
2、标的资产的具体评估、定价情况
非上市公司的股权价值咨询通常采用市场法、收益法和资产基础法等价值分
析技术，结合流动性折价、控制权溢价等因素估算价值。根据本次经济行为和价
值咨询目的，结合资料和市场参数可取得的情况以及目标单位的特点，本次价值
估算采用收益法。
本次收益法价值估算模型选用企业税后现金流折现模型。基本思路是以未来
收益预测数据为基础估算价值，首先按照收益途径使用现金流折现方法（DCF），
估算在未来收益预测情形下的经营性资产价值，再考虑价值咨询基准日的有息负
债、溢余性资产、非经营性资产或负债价值等，最终求得目标单位的股东全部权
益价值。
重要评估参数：1）折现率的确定。折现率采用资本资产定价模型（CAPM）
和资本加权平均成本（WACC）确定，经计算折现率为 13.5%。2）预测期的确定。
拓普艾莱拥有特瑞普利单抗在新加坡、中国香港特别行政区、欧盟，以及未来可
能获批上市的部分国家和地区的权益，预估其未来主要收入来源为在许可区域销
售特瑞普利单抗的收入。根据拓普艾莱目前经营状况、业务特点、市场供需等情
况，预计其在 2035 年进入稳定期，故预测期确定为 9.5 年，2035 年后为永续。
（二）定价合理性分析
本次定价为各方协商一致确定，并参考《价值咨询报告》测算结果，定价具
备合理性与公平性，不存在损害公司及股东利益的情形。
五、交易协议的主要内容
（一）协议主要内容
6

1、协议主体
（1）TopAlliance Biosciences Inc.
（2）上海君实生物医药科技股份有限公司
（3）Great Valley Creek LLC
（4）Particle Future Venture Fund I, L.P.
2、股份转让及认购
（1）股份转让
公司于交割时分别向各交易对方出售、转让、让与并交付 328,125 股普通股
的所有权利、所有权和权益，转让价格均为 750 万美元，合计向交易对方转让
656,250 股普通股，转让价款合计 1,500 万美元。该等转让股份应在交割前或交
割时重新分类为 A 类优先股。
（2）股份认购
拓普艾莱于适用的交割时分别向各交易对方出售并发行 250 万美元 A 类优
先股，投资前估值 2,000 万美元。交易对方投资价款合计 500 万美元。
（3）交易预付款
在交易协议签署日之后二十日内，各交易对方应分别向拓普艾莱指定账户支
付 100 万美元，作为交易预付款。
3、交割
（1）交割
交割应在交易协议所载全部交割条件已获满足或被正式放弃（但须于交割时
满足的条件除外，其可在交割时满足或放弃）之后的第十个营业日内尽快进行，
或在各方书面同意的其他时间和地点进行。
（2）交割交付
交割时，交易对方应将其转让价款支付至公司指定账户。交易对方应将其投
资价款支付至拓普艾莱指定账户。支付投资价款时，已支付的预付款应视为投资
价款的一部分，因此各交易对方应支付减去预付款后的剩余金额。
交割时，拓普艾莱应向各交易对方交付转让股份和新股的股份证书；以及拓
普艾莱董事会和股东会批准交易的决议。
交割时，拓普艾莱应向公司交付一份代表公司所持剩余普通股的股份证书。
7

如果交易对方拒绝完成交割，或在约定时间内，转让价款或投资款未全额支
付，则拓普艾莱和公司均有权通过向该交易对方发出书面通知立即终止交易协议，
且预付款应视为对拓普艾莱和公司的补偿，不予退还。
（3）最终截止日期
如因可归因于交易对方的原因，交割未能在 2026 年 12 月 31 日（“最终截止
日期”）之前发生，则拓普艾莱和公司均有权通过向该交易对方发出书面通知立
即终止交易协议，且在此终止情形下，预付款应视为对拓普艾莱和公司的补偿，
不予退还。
如因可归因于拓普艾莱和/或公司的原因，交割未能在最终截止日期之前发
生，则交易对方有权通过向拓普艾莱和公司发出书面通知立即终止交易协议，且
在此终止情形下，预付款应予退还。
如因不可抗力，交割未能在最终截止日期之前发生，则任何一方均有权通过
向其他相关方发出书面通知立即终止交易协议，且在此终止情形下，预付款应予
退还。
4、交割先决条件
（1）公司及拓普艾莱向交易对方交付经各方同意的股东协议，该协议由公
司及拓普艾莱正式签署；
（2）修订后的章程已于交割日由拓普艾莱正式通过；
（3）
各方根据适用法律就交易协议项下拟议交易须取得或办理的必要同意、许可、登
记、声明、备案或其他政府授权，均已取得或办理完毕；
（4）拓普艾莱关键人员
须已与拓普艾莱签署经各方同意的知识产权转让协议/条款；（5）各方陈述与保
证，在适用的交割日应为真实且准确；
（6）自签署日以来，各方未发生重大不利
影响，亦未出现交易协议项下的重大违约。
5、争议解决
各方同意本着诚信原则进行协商，如未能在三十日内令各方合理满意地解决
争议，则该争议应提交香港国际仲裁中心，按照届时有效的仲裁规则进行仲裁，
仲裁裁决应为终局的。
六、对上市公司的影响
（一）本次交易是公司基于战略规划调整，对海外资产进行的梳理与优化。
本次交易完成后，拓普艾莱将作为公司产品特瑞普利单抗在部分国家和地区的商
8

业化平台开展后续业务。本次交易有利于改善公司资产结构，优化资源配置，回
收投资资金，降低管理成本，提升运营效率。
（二）本次交易完成后，公司持有拓普艾莱 20%股权，拓普艾莱不再纳入公
司合并报表范围。公司将按照企业会计准则的相关要求进行会计处理，具体会计
处理及影响金额以公司聘请的会计师事务所审计结果为准。
（三）本次交易不构成关联交易。本次交易不会导致产生同业竞争，不会导
致公司控股股东、实际控制人及其关联人对公司形成非经营性资金占用。
七、风险提示
本次交易尚须取得有关部门的批准或备案、满足协议约定的交割先决条件，
最终能否成功实施尚存在不确定性，敬请投资者注意投资风险。
特此公告。
上海君实生物医药科技股份有限公司
董事会
2026 年 8 月 27 日

9

证券代码：688180

证券简称：君实生物

公告编号：临 2026-051

上海君实生物医药科技股份有限公司
关于日常关联交易预计的公告
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。

重要内容提示：
 是否需要提交股东会审议：否
 日常关联交易对上市公司的影响：本次预计的日常关联交易符合上海君
实生物医药科技股份有限公司（以下简称“公司”）日常经营活动的需要，关联
交易定价遵循市场化原则，不存在损害公司及股东利益的情形，不会影响公司独
立性，不会对关联方形成依赖。

一、日常关联交易基本情况
（一）日常关联交易履行的审议程序
公司于 2026 年 8 月 26 日召开第四届董事会第二十二次会议，审议通过了
《关于日常关联交易预计的议案》，关联董事 NING LI（李宁）先生、SHENG YAO
（姚盛）先生已回避表决。本次日常关联交易预计金额合计为人民币 3,496.95 万
元，期限为自本次董事会审议通过之日起至审议 2027 年度日常关联交易预计金
额的相关会议决议生效之日止。
上述议案已经公司第四届董事会独立非执行董事 2026 年第二次专门会议审
议通过，并同意提交公司董事会审议。
（二）本次日常关联交易预计金额和类别
单位：万元
关联交易类别

关联人

向关联人销售产品、
商品

TopAlliance
Biosciences Inc.及其
附属公司
1

币种：人民币

本次预计金额

占同类业务
比例（%）

2,650.60

1.08

向关联人提供劳务
接受关联人提供的劳
务

TopAlliance
Biosciences Inc.及其
附属公司
TopAlliance
Biosciences Inc.及其
附属公司
/

合计

200.00

6.36

646.35

9.12

3,496.95

/

注 1：上述关联交易额度，公司可以根据实际业务需要，在同一控制下的不同关联方
之间内部调剂使用（包括不同关联交易类别之间的调剂）。
注 2：同类业务比例计算基数为公司 2025 年同类业务发生金额。

二、关联人基本情况和关联关系
（一）关联人的基本情况
名称

TopAlliance Biosciences Inc.

注册资本

已发行股份 875,000 股

成立日期

2013/3/6

主要办公地址

9430 KEY WEST AVE, SUITE 125,
ROCKVILLE, 20850 MD,USA

主营业务

药品研发、销售，提供相关服务

主要股东或实际控制人

截至本公告披露日，公司持有其 100%股份

截至 2025 年 12 月 31 日，总资产 32,714.18
最近一个会计年度的主要财务 万元，所有者权益-4,915.39 万元；2025 年度
数据
营业收入 6,019.37 万元，净利润-4,092.21 万
元。

（二）关联关系
公司拟转让所持有的部分 TopAlliance Biosciences Inc.（以下简称“拓普艾
莱”）股份，同时拓普艾莱拟向新股东发行新股（以下简称“股份转让及增资”）。
股份转让及增资完成后，拓普艾莱不再纳入公司合并报表范围内，根据《上海证
券交易所科创板股票上市规则》的规定，因公司董事 NING LI（李宁）先生、
SHENG YAO（姚盛）先生同时担任拓普艾莱董事或高管，拓普艾莱将由公司全
资子公司变更为公司关联方。
（三）履约能力分析
上述股份转让及增资完成后，拓普艾莱将成为公司参股公司，拓普艾莱系
依法存续且正常经营的主体，具备履约能力。
2

三、日常关联交易主要内容
（一）关联交易主要内容
公司本次预计的日常关联交易的主要内容为，公司及下属子公司预计向拓普
艾莱及其附属公司销售许可药品并收取许可药品在许可区域内的销售分成、向拓
普艾莱及其附属公司提供劳务、接受拓普艾莱及其附属公司提供的劳务。本次交
易价格的制定遵循公平、自愿、互惠的原则，以市场价格为依据，由双方协商确
定交易价格，不存在损害公司及全体股东利益的情形。
（二）关联交易协议签署情况
对于上述日常关联交易，公司将在上述预计的范围内，按照实际需要与关联
人签署具体的合同或协议。公司已与拓普艾莱签署部分交易协议，已签订的协议
将如约继续执行，因价格调整或新增的关联交易合同授权公司管理层重新签署。
四、日常关联交易目的和对上市公司的影响
（一）截至本公告披露日，拓普艾莱为公司合并报表范围内子公司，因拟
实施的交易预计将导致拓普艾莱不再纳入合并报表范围，成为新增关联方，为
便于后续业务的正常开展，进行本次日常关联交易预计。
（二）本次预计的日常关联交易为公司正常生产经营所需，关联交易定价
遵循市场化原则，不存在损害公司及全体股东利益的情形。
（三）本次预计的日常关联交易不会影响公司的独立性，公司主营业务不
会因上述交易而对关联方形成依赖，不会对公司的财务状况、经营成果产生不
利影响。

特此公告。

上海君实生物医药科技股份有限公司
董事会
2026 年 8 月 27 日

3