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🇭🇰 港交所GENSCRIPT BIODoubao · 实盘不做把握 6/10不做原因:风险收益比不佳
北京时间·🕒 发布 09-11 07:32:00时区推断·⟳ 抓取 09-11 08:02:32·⚡ 决策 09-12 02:28:45 +18h26m·45.6 天前

金斯瑞生物科技(1548.HK)拟按30.50港元折价4.7%配售7712.6万股新股,净筹约23.27亿港元投向AIDD平台

对现有股东为摊薄折价(温和负面)与成长融资(正面)并存的MIXED事件:做空缺乏强催化(摊薄小、折价浅、用途为AIDD扩张,且公告当日低开高走收涨,触及做空红线的‘弱理由’禁区);做多则因配售新闻在9月11日完整交易日已被市场消化、收于配售价上方,周末再追无新增预期差,且best-efforts配售9月15日才交割。多空均无正期望,故不做。

📄 原文GENSCRIPT BIO↗ 原文
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) take no res…
不做 金斯瑞生物科技(01548.HK)
做空不成立:摊薄仅3.38%、折价4.7%,募资投向AIDD成长,且公告当日低开高走收涨1.12%、配售价获承接,属规则禁止的弱理由做空;做多无edge:配售非正面surprise且9月11日全天已price-in,best-efforts至9月15日才交割,叠加近20日+30%、13周近三倍的高拥挤与日波动约6.4%,周末隔夜追入赔率差。多空均无正期望,回避,待交割结果或基本面新催化再评估
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)

研究档案

结论摘要

一手港交所公告:按30.50港元配售3.38%新股、净筹23.27亿港元投AIDD,折价4.7%。9月11日市场全天消化——开盘30.88港元(贴近配售价)后强力反弹至33.76、收32.36(+1.12%),表明配售价获得承接、市场把融资解读为成长加码而非受损,做空逻辑被价格证伪。但配售并非正面surprise且当日已price-in,近20日累涨约30%、13周近三倍、日波动常达±10%,追多赔率差;摊薄属资本结构中性偏温和,未达净损害风控门槛。多空皆无edge,回避。

🔎 新鲜度:最早出现 2026-09-11 · 扩散 low · price-in 风险 high ↗

主要风险

  • 配售为best-efforts且有多项先决条件,若9月15日前未完成或市场转弱,股价可能重新测试30.50港元配售价
  • 个股近20日上涨约30%、13周近三倍、日波动率约6.4%,情绪与流动性驱动下隔夜跳空风险高

反向证据

  • 做空前查反向 · 来源 kb_search · 日期 2026-03-18 · 影响 weakens
    岗底斯研报称2025年持续经营收入9.60亿美元(+61.4%)、调整后净利2.30亿美元(+285%),三大板块向好、2026指引强劲,属高成长标的;削弱‘配售=缺钱/利空’的做空假设
    检索:金斯瑞 1548 经营 业绩 指引 AIDD 基本面 原文 ↗
  • 做空前查反向 · 来源 futu · 日期 2026-09-11 · 影响 invalidates
    9月11日开30.88、低30.80、高33.76、收32.36(+1.12%),市场未将配售兑现为净下跌,做空缺乏价格与基本面双重支撑
    检索:公告当日价格反应(低开高走收涨)

先例如何影响了这次决策

对本次决策的影响:无可靠先例支撑追多或做空,叠加当日已price-in与高波动,最终选择AVOID而非据名义折价机械做空

方向:未取得经首发锚点核验的港股一般授权配售先例面板;最直接、最可靠的同类锚是本标的9月11日当日真实反应——低开高走收涨,指向小比例、浅折价、成长用途的配售未被市场当作利空

涨幅量级:缺乏干净的aligned先例,不用外部数字校准涨跌幅;当日从配售价30.50附近反弹至收盘32.36(约+6%)仅说明承接强,不外推为后续涨幅

形态:无足够先例判断配售类事件的见光死概率;本票当日为‘低开高走’而非高开低走

工具执行结果 · 成功 4 · 降级 0 · 失败 0 · 取消 0
  1. search_processed_events 成功 stock_tools HTTP · 57 ms
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  2. fetch_decision_experience 成功 stock_tools HTTP · 9 ms
    {
  3. stock_quote 成功 stock_tools HTTP · 1,007 ms
    {
  4. kb_search 成功 stock_tools HTTP · 824 ms
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原文全文

展开原文 · 35,504 字
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the “Stock
Exchange”) 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.
This announcement is for information purposes only and does not constitute an invitation or offer to
acquire, purchase or subscribe for the securities of the Company.
Neither this announcement nor any copy thereof may be released into or distributed directly or indirectly
in the United States or any other jurisdiction where such release or distribution might be unlawful. This
announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for
securities in the United States.
The securities mentioned herein have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the
United States unless registered under the U.S. Securities Act or pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the U.S. Securities Act. The Company has no
intention to register under the U.S. Securities Act any of the securities referred to herein or to conduct a
public offering of securities in the United States.

Genscript Biotech Corporation
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 1548)
PLACING OF NEW SHARES UNDER THE GENERAL MANDATE
Joint Overall Coordinators and Joint Placing Agents
(in alphabetical order)

THE PLACING
The Board hereby announces that on 11 September 2026 (before trading hours), the Company and the
Placing Agents entered into the Placing Agreement, pursuant to which the Company agreed to appoint the
Placing Agents, and the Placing Agents have conditionally agreed to procure, on a best effort basis, not
less than six Placees in aggregate to subscribe for 77,126,000 Placing Shares at the Placing Price of
HK$30.50 per Share upon the terms and subject to the conditions set out in the Placing Agreement. It is
expected that the Placing Shares will be placed to not less than six Placees who will be professional,
institutional, or other investors that are, together with their respective ultimate beneficial owners,
Independent Third Parties. It is also expected that none of the Placees will become a substantial shareholder
immediately after the completion of the Placing.

1

The Placing Price of HK$30.50 per Share represents:
(i)

a discount of approximately 4.7% to the closing price of HK$32.00 per Share as quoted on the
Stock Exchange on 10 September 2026 (being the Last Trading Day); and

(ii)

a discount of approximately 6.3% to the average closing price of approximately HK$32.56 per
Share as quoted on the Stock Exchange for the last five consecutive trading days immediately
preceding the date of the Placing Agreement.

The Placing Price was determined after arm’s length negotiations between the Company and the Placing
Agents with reference to the market conditions and the prevailing market price of the Shares.
The Placing Shares represent (i) approximately 3.50% of the existing issued share capital of the Company
as at the date of this announcement; and (ii) approximately 3.38% of the issued share capital of the
Company as enlarged by the allotment and issue of the Placing Shares (assuming that there will be no
change to the issued share capital of the Company from the date of this announcement to the Closing Date).
Assuming that all Placing Shares are placed, the gross proceeds from the Placing are expected to be
approximately HK$2,352.3 million, and the net proceeds from the Placing (after deduction of the placing
commission in respect of the Placing and other related expenses including, among others, the professional
fees) are expected to be approximately HK$2,327.1 million, representing an estimated net issue price of
approximately HK$30.17 per Placing Share.
USE OF PROCEEDS
The Company intends to use the net proceeds from the Placing as follows: (i) approximately 70% for
expansion of capacity and infrastructure for the Group’s AIDD platform, including automated highthroughput wet-lab facilities, related equipment and laboratory upgrades; (ii) approximately 20% for
research and development, digital workflow integration and global business development in connection
with such AIDD platform; and (iii) approximately 10% for general corporate purposes and working capital.
The specific use of the proceeds is subject to the adjustments by the Board or its authorized persons
according to the operating conditions and actual needs of the Company or the Group.
GENERAL MANDATE
The Placing Shares will be allotted and issued by the Company under the General Mandate and will rank
pari passu in all respects with the Shares then in issue on the Closing Date. An application will be made
by the Company to the Listing Committee of the Stock Exchange for the listing of, and permission to deal
in, the Placing Shares on the Stock Exchange.
Completion of the Placing is subject to the satisfaction of the conditions precedent set out in the
Placing Agreement and may or may not materialize. Further announcement will be made as and
when appropriate in accordance with the relevant rules of the Stock Exchange. Shareholders and
potential investors of the Company are advised to exercise caution when dealing in the Company’s
securities.

2

PLACING OF NEW SHARES UNDER GENERAL MANDATE
The Board hereby announces that on 11 September 2026 (before trading hours), the Company and the Placing
Agents entered into the Placing Agreement, pursuant to which the Company agreed to appoint the Placing
Agents, and the Placing Agents have conditionally agreed to procure, on a best effort basis, not less than six
Placees in aggregate to subscribe for 77,126,000 Placing Shares at the Placing Price of HK$30.50 per Share
upon the terms and subject to the conditions set out in the Placing Agreement.
THE PLACING AGREEMENT
The principal terms of the Placing Agreement are set out below:
Date:

11 September 2026 (before trading hours)

Parties:

(i)

the Company; and

(ii)

the Placing Agents

To the best of the Directors’ knowledge, information and belief having made all reasonable enquiries, the
Placing Agents, and their respective ultimate beneficial owner(s), are Independent Third Parties.
Placing Shares
A total of 77,126,000 Placing Shares will be placed by the Placing Agents under the Placing. The number of
Placing Shares represents:
(i)

approximately 3.50% of the existing issued share capital of the Company as at the date of this
announcement; and

(ii)

approximately 3.38% of the issued share capital of the Company as enlarged by the allotment and
issue of the Placing Shares (assuming that there will be no change to the issued share capital of the
Company from the date of this announcement to the Closing Date).

The Placing Shares have a maximum aggregate nominal value of US$77,126.
Placing Price
The Placing Price of HK$30.50 per Placing Share represents:
(i)

a discount of approximately 4.7% to the closing price of HK$32.00 per Share as quoted on the Stock
Exchange on 10 September 2026 (being the Last Trading Day); and

(ii)

a discount of approximately 6.3% to the average closing price of approximately HK$32.56 per Share
as quoted on the Stock Exchange for the last five consecutive trading days immediately preceding
the date of the Placing Agreement.

The Placing Price was determined after arm’s length negotiations between the Company and the Placing
Agents with reference to the market conditions and the prevailing market price of the Shares. The net placing
price (after deducting the commissions and estimated expenses) is approximately HK$30.17 per Placing
Share.

3

The Placees
The Placing Agents have agreed, on a best effort basis, to procure not less than six Placees that are
professional, institutional or other investors in aggregate to purchase the Placing Shares, upon the terms and
subject to the conditions set out in the Placing Agreement. It is expected that (i) the Placees procured by the
Placing Agents and their respective ultimate beneficial owners will remain Independent Third Parties on the
Closing Date; and (ii) none of the Placees will become a substantial shareholder immediately after the
Completion of the Placing.
Ranking of the Placing Shares
The Placing Shares shall, when fully paid, rank pari passu in all respects with the other Shares in issue or to
be issued by the Company on or prior to the Closing Date, including the rights to receive all dividends and
other distributions declared, made or paid on or after the date of allotment.
Conditions of the Placing Agreement
The Completion of the Placing shall be subject to certain conditions (the “Conditions”), including:
(i)

the Listing Committee of the Stock Exchange granting the listing of, and permission to deal in, the
Placing Shares and such listing and permission not subsequently being revoked prior to the delivery
of definitive share certificate(s) representing the Placing Shares as set out in the Placing Agreement;

(ii)

the Placing Agents having received on or prior to the Closing Date an opinion of the U.S. counsel to
the Placing Agents, to the effect that the offer and sale of the Placing Shares by the Placing Agents
as set forth in the Placing Agreement are not required to be registered under the U.S. Securities Act;

(iii)

the Placing Agents having received on the Closing Date the substantially complete draft of the CSRC
Filings and the draft opinion from the counsel to the Company as to PRC laws in relation to the
CSRC Filings, such drafts to be in form and substance reasonably satisfactory to the Placing Agents;

(iv)

the Placing Agents having received on or prior to the Closing Date an opinion of the Cayman Islands
counsels to the Company, relating to such matters as the Placing Agents shall reasonably request,
such opinion to be in the form and substance reasonably satisfactory to the Placing Agents;

(v)

the representations and warranties made by the Company pursuant to the Placing Agreement being
true and accurate and not misleading as of the Closing Date; and

(vi)

the Company having complied with all of its undertakings and obligations required to be performed
or satisfied under the Placing Agreement on or before the Closing Date.

The Placing Agents in their respective sole discretion may waive any of the Conditions above (except for
Condition (i)), in whole or in part.
Termination of the Placing Agreement
If any of the Conditions is not fulfilled at or prior to 8:00 a.m. (Hong Kong time) on the Closing Date (or
such later time and/or date as may be agreed between the Company and the Placing Agents), then: (i) in the
case of Condition (i), the Company and the Placing Agents shall have no further obligations or liabilities to
each other under the Placing and neither party shall have any claim against the other for costs, damages,
compensation or otherwise arising under the Placing Agreement, save for any antecedent breach; and (ii) in
the case of Conditions (ii) to (vi), if such Condition is not fulfilled to the satisfaction of the Placing Agents
or waived by them, the Placing Agents may terminate the Placing Agreement forthwith.

4

Furthermore, notwithstanding anything contained in the Placing Agreement, if at any time prior to 8:00 a.m.
(Hong Kong time) on the Closing Date:
(i)

there develops, occurs or comes into force any new law or regulation, any change or development
(including a prospective change) in existing laws or regulations or in their interpretation or
application, any change or development in financial, political, economic, legal, military, industrial,
fiscal, regulatory, currency, securities market or other conditions, which, in the sole opinion of either
of the Placing Agents, is or is likely to be materially adverse to the success of the Placing or makes
or is likely to make it impracticable, inadvisable or inexpedient to proceed with the Placing, any
force majeure event beyond the reasonable control of the Placing Agents, any suspension of dealings
in the Shares (other than as a result of the Placing), or any moratorium, suspension or restriction on
trading in securities generally on certain major stock exchanges;

(ii)

it comes to the knowledge of the Placing Agents that there is any breach of the representations,
warranties or undertakings of the Company in the Placing Agreement (or, where not qualified by
materiality, any such breach in any material respect), any event or matter which, had it occurred or
arisen before the date of the Placing Agreement, would have rendered any such representations,
warranties or undertakings untrue or incorrect, or any breach or failure by the Company to perform
the Placing Agreement in any material respect; or

(iii)

there is any change, or any development involving a prospective change, in or affecting the business,
general affairs, management, prospects, assets and liabilities, shareholders’ equity, results of
operations or position (financial or otherwise) of the Group as a whole (other than as already
disclosed to the public on or before the date of the Placing Agreement) which, in the sole and
reasonable opinion of either of the Placing Agents, is or is likely to be materially adverse to the
success of the Placing or makes or is likely to make it impracticable, inadvisable or inexpedient to
proceed with the Placing,

the Placing Agents may terminate the Placing Agreement by written notice to the Company. If the Company
fails to deliver the Placing Shares in accordance with the Placing Agreement, the Placing Agents shall also
have the right, exercisable at any time by written notice to the Company, to terminate the Placing Agreement.
Lock-up Undertakings by the Company
The Company undertakes to the Placing Agents that it shall not, without the prior written consent of the
Placing Agents, (i) effect or arrange or procure placement of, allot or issue or offer to allot or issue or grant
any option, right or warrant to subscribe for, or enter into any transaction which is designed to, or might
reasonably be expected to, result in any of the aforesaid (whether by actual disposition or effective economic
disposition due to cash settlement or otherwise), directly or indirectly, any equity securities of the Company
or any securities convertible into, or exercisable, or exchangeable for, equity securities of the Company, or
(ii) enter into any swap or similar agreement that transfers, in whole or in part, the economic risk of ownership
of such Shares, whether any such transaction described in (i) or (ii) above is to be settled by delivery of
Shares or such other securities, in cash or otherwise, or (iii) publicly announce an intention to effect any such
transaction, for a period beginning on the date of the Placing Agreement and ending on the date which is 90
days after the Closing Date. The foregoing shall not apply to (i) the issue of the Placing Shares under the
Placing Agreement, (ii) the issue or grant of share options, awards or shares pursuant to the Company’s
existing share option or share award schemes, (iii) the issue of Shares on the exercise or vesting of options
or awards outstanding at the date of the Placing Agreement, and (iv) any issue of securities which has been
publicly announced prior to the date of the Placing Agreement.

5

Completion
Subject to the satisfaction the Conditions, Completion is expected to take place on or before 15 September
2026, or such other time and/or date as the Placing Agents and the Company may agree in writing.
ISSUE OF NEW SHARES UNDER THE GENERAL MANDATE
By resolutions of the Shareholders passed at the AGM held on 5 June 2026, the General Mandate was granted
to the Directors to allot and issue up to 437,683,468 Shares, being 20% of the total number of 2,188,417,343
issued Shares (excluding treasury shares, if any) as at the date of the AGM. As at the date of this
announcement, no Shares have been allotted and issued under the General Mandate. The allotment and issue
of the Placing Shares will fall within the limit of the General Mandate and is not subject to further approval
of the Shareholders.
LISTING APPLICATION
The Company will apply to the Listing Committee for listing of, and permission to deal in, the Placing Shares.
FILING WITH REGULATORY AUTHORITIES IN THE PRC
After the Placing Shares are issued and listing on the Stock Exchange, the Company will file with the
regulatory authorities in the PRC in accordance with the relevant applicable laws and regulations, including
the CSRC Filings.
REASONS FOR AND BENEFITS OF THE PLACING AND USE OF PROCEEDS
The Company is a well-recognized biotechnology company with proprietary DNA synthesis and related lifescience technologies. It is principally engaged in life-science research services and products, end-to-end
CRDMO services for biologics and cell and gene therapy, and industrial synthetic biology products, serving
global research institutions and biopharmaceutical customers.
The Directors believe that AIDD is increasing demand for an integrated infrastructure that combines
computational design with automated, high-throughput wet-lab validation on short turnaround times. The
Group intends to apply the net proceeds of the Placing to accelerate capital expenditure and expand its
dedicated capacity in this area, including automated high-throughput synthesis, screening and assay
platforms, with a view to improving scale and delivery cycles.
The Group’s existing operations are supported by its current financial position and operating cash flows. The
Placing is intended to fund this expansion without drawing on cash reserved for existing businesses, and to
broaden the Company’s institutional shareholder base.
In view of the above, the Directors consider that the terms of the Placing Agreement and the transactions
contemplated thereunder (including the Placing and the Placing Price) are fair and reasonable and with
reference to the prevailing market conditions. The Placing and the entry into of the Placing Agreement are in
the interest of the Company and its Shareholders as a whole.
Assuming that all Placing Shares are placed, the gross proceeds from the Placing are expected to be
approximately HK$2,352.3 million, and the net proceeds from the Placing (after deduction of the placing
commission in respect of the Placing and other related expenses including, among others, the professional
fees) are expected to be approximately HK$2,327.1 million, representing an estimated net issue price of
approximately HK$30.17 per Placing Share.

6

The Company presently intends to use the net proceeds from the Placing as follows: (i) approximately 70%
for expansion of capacity and infrastructure for the Group’s AIDD platform, including automated highthroughput wet-lab facilities, related equipment and laboratory upgrades; (ii) approximately 20% for research
and development, digital workflow integration and global business development in connection with such
AIDD platform; and (iii) approximately 10% for general corporate purposes and working capital. The
specific use of the proceeds is subject to the adjustments by the Board or its authorized persons according to
the operating conditions and actual needs of the Company or the Group.
EQUITY FUND RAISING OF THE COMPANY DURING THE PAST TWELVE MONTHS
The Company has not carried out any fund-raising activity involving issue of equity securities during the 12
months immediately prior to the date of this announcement.
EFFECT OF THE PLACING ON THE SHARE CAPITAL OF THE COMPANY
The table below sets out a summary of the shareholding structure of the Company (i) as at the date of this
announcement; and (ii) immediately after the Completion of the Placing, assuming that the Placing Shares
are fully placed and that except for the Placing Shares allotted and issued, there is no change in the issued
Shares of the Company from the date of the Placing Agreement up to the date of the Completion of the
Placing:
As at the date of this announcement
Shareholders

Number of
issued Shares

Approximate %
of issued share
capital of the
Company

Immediately upon Completion and
the allotment and issuance of the
Placing Shares
Number of
Approximate %
issued Shares
of issued share
capital of the
Company

(%)Note 1

GenScript
CorporationNote2
Other
nonpublic
Shareholders
The Placees
Other
public
Shareholders
Total

(%)Note 1

799,999,123

36.32

799,999,123

35.09

4,016,989

0.18

4,016,989

0.18

1,398,887,684

63.50

77,126,000
1,398,887,684

3.38
61.35

2,202,903,796

100.00

2,280,029,796

100.00

Note:
1.

The aggregate of the percentage figures in the table above may not add up to the relevant subtotal or total percentage
figures shown due to rounding of the percentage figures to two decimal places.

2.

GenScript Corporation is a company incorporated in the State of Delaware in the U.S. and one of the controlling
shareholders of the Company. As at the date of this announcement, it was owned as to approximately 10.87%,
20.19%, 4.86%, 0.93%, 0.96%, 2.44%, 22.76%, 22.66%, 2.37%, 8.06%, 1.78%, 1.05%, and 1.07% by Frank Zhang,
the Zhang Trust, Weihong Jin, the Jin 2025 Trust, the Jin 2023 Trust, the Jin 2026 Trust, Larry Wang, Karen Wu (in
her own name and through certain family trustees), Sally Wang, the Wang Trust, the Wang 2026 Trust, Yingjun Mu
and Charity B-Community Foundation of New Jersey, respectively.

7

This announcement has been issued in the English language with a separate Chinese language translation. If
there is any inconsistency or ambiguity between the English version and the Chinese version, the English
version shall prevail.
Completion of the Placing is subject to the satisfaction of the conditions precedent set out in the Placing
Agreement and may or may not materialize. Further announcement will be made as and when
appropriate in accordance with the relevant rules of the Stock Exchange. Shareholders and potential
investors of the Company are advised to exercise caution when dealing in the Company’s securities.
DEFINITIONS
In this announcement, unless the context otherwise requires, the following expressions have the following
meanings:
“AGM”

the annual general meeting of the Company held on 5 June 2026

“Andy Cheung”

Mr. Yiu Leung Andy Cheung, an independent non-executive Director

“AIDD”

AI-driven drug discovery

“Board”

the Board of Directors

“Closing Date”

expected to take place on 15 September 2026, or such other date as the
Company and the Placing Agents may agree in writing

“Company”

Genscript Biotech Corporation, an exempted company incorporated
under the laws of the Cayman Islands with limited liability (stock code:
1548)

“Completion”

the completion of the Placing pursuant to the terms and conditions of the
Placing Agreement

“connected person(s)”

has the same meaning ascribed thereto under the Listing Rules

“controlling shareholder(s)”

has the meaning ascribed thereto under the Listing Rules

“CSRC”

the China Securities Regulatory Commission

“CSRC Filings”

the filing report (including any amendments, supplements and/or
modifications thereof) with the CSRC in relation to the Placing and any
transactions contemplated by the Placing Agreement and any relevant
supporting materials

“Director(s)”

the director(s) of the Company

“Ethan Pan”

Mr. Jiuan Pan, an independent non-executive Director

“Frank Zhang”

Dr. Fangliang Zhang, an executive Director

“General Mandate”

the general mandate granted by a resolution passed at the AGM to the
Directors to allot, issue or otherwise deal with new Shares not exceeding
20% of the total number of Shares in issue (excluding treasury Shares,
if any) as at the date of passing of the resolution

“Group”

the Company and its subsidiaries from time to time

8

“HK$”

Hong Kong dollars, the lawful currency of Hong Kong

“Hong Kong”

Hong Kong Special Administrative Region of the PRC

“Independent Third Party(ies)”

third party(ies) independent of and not connected with the Company and
its connected person(s)

“Jin 2023 Trust”

Weihong Jin 2023 GRAT Remainder Trust

“Jin 2025 Trust”

Weihong Jin 2025 Grantor Retained Annuity Trust

“Jin 2026 Trust”

Weihong Jin 2026 Grantor Retained Annuity Trust

“Larry Wang”

Dr. Wang Luquan

“Last Trading Day”

10 September 2026, being the last trading day prior to the signing of the
Placing Agreement

“Listing Committee”

has the same meaning ascribed thereto under the Listing Rules

“Listing Rules”

the Rules Governing the Listing of Securities on The Stock Exchange of
Hong Kong Limited, as amended, supplemented or otherwise modified
from time to time

“Placee(s)”

any professional, institutional or other investors procured by the Placing
Agents to subscribe for the Placing Shares pursuant to the Placing
Agreement and who are Independent Third Parties

“Placing”

the placing of the Placing Shares by or on behalf of the Placing Agents
on the terms and subject to the conditions set out in the Placing
Agreement

“Placing Agents”

Citigroup Global Markets Limited and J.P. Morgan Securities (Asia
Pacific) Limited, and each a placing agent (in alphabetical order)

“Placing Agreement”

the conditional placing agreement entered into between the Company
and the Placing Agents dated 11 September 2026

“Placing Price”

HK$30.50 per Placing Share

“Placing Share(s)”

77,126,000 new Shares to be allotted and issued pursuant to the terms
and conditions of the Placing Agreement which will rank pari passu in
all respects with the Shares in issue and together with all rights attaching
to as at the date of issue of the Placing Shares

“PRC”

the People’s Republic of China which, for the purpose of this
announcement, shall exclude Hong Kong, the Macau Special
Administrative Region of the PRC and Taiwan

“Robin Meng”

Mr. Jiange Meng, the chairman of the Board and an executive Director

“Sally Wang”

Ms. Ye Wang, an executive Director and the president of the Company

“Share(s)”

ordinary share(s) in the share capital of our Company, with a nominal
value of US$0.001 each

9

“Shareholder(s)”

holder(s) of the Share(s) from time to time

“Stock Exchange”

The Stock Exchange of Hong Kong Limited

“substantial shareholder(s)”

has the same meaning ascribed thereto under the Listing Rules

“U.S.”

the United States of America

“US$”

United States dollars

“Victor Shi”

Dr. Chenyang Shi, an independent non-executive Director

“Wang Trust”

2017 Wang Ye Family Trust set up by Sally Wang

“Wang 2026 Trust”

Wang Ye 2026 Grantor Retained Annuity Trust set up by Sally Wang

“Zhang Trust”

2017 Fang Liang Zhang Trust set up by Frank Zhang

“%”

percent.

By order of the Board
Genscript Biotech Corporation
Robin Meng
Chairman and Executive Director
Hong Kong, 11 September, 2026
As at the date of this announcement, the executive Directors are Mr. Robin Meng, Dr. Frank Zhang, Dr. Li
Zhu and Ms. Sally Wang; and the independent non-executive Directors are Dr. Alphonse Galdes, Mr. Andy
Cheung, Mr. Ethan Pan, Dr. John Quelch, Dr. Ross Grossman and Dr. Victor Shi.

10

香港交易及結算所有限公司及香港聯合交易所有限公司(「聯交所」)對本公告的內容概不負責,
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份內容而
產生或因倚賴該等內容而引致的任何損失承擔任何責任。
本公告僅供參考,並不構成收購、購買或認購本公司證券的邀請或要約。
本公告及其任何副本概不得直接或間接在美國,或在刊發或派發本公告屬違法的任何其他司法
管轄區刊發或派發。本公告並不構成在美國購買或認購證券的任何要約或招攬,亦不構成其一
部份。
本公告所述證券並無亦不會根據《1933 年美國證券法》(經修訂)(「美國證券法」)登記,且除
非已根據美國證券法登記,或依照美國證券法獲豁免登記,或在無須根據美國證券法登記的交
易中,否則不得在美國發售或出售。本公司無意根據美國證券法登記本公告提及的任何證券,
也無意在美國進行證券公開發行。

Genscript Biotech Corporation
(於開曼群島註冊成立的有限公司)
(股份代號:1548)

根據一般授權配售新股份
聯席整體協調人及聯席配售代理

(按英文字母順序排序)

配售事項
董事會欣然宣佈,於 2026 年 9 月 11 日(於交易時段前),本公司與配售代理訂立配售協議。據
此,本公司同意委任配售代理及配售代理有條件同意,根據配售協議所載條款及條件,盡力促使
合共不少於六名承配人認購 77,126,000 股配售股份,配售價為每股 30.50 港元。預計配售股份將
向不少於 6 名承配人(彼等應為專業投資者、機構投資者或其他投資者(連同彼等各自的最終實
益擁有人,均為獨立第三方)配售。預期概無承配人將在緊隨配售事項完成後成為主要股東。
配售價為每股 30.50 港元,較:
(i)

股份於 2026 年 9 月 10 日(即最後交易日)在聯交所所報收市價每股 32.00 港元折讓約
4.7%;及

(ii)

股份於緊接配售協議日期前最後五個連續交易日在聯交所所報平均收市價每股 32.56 港元
折讓約 6.3%;

1

配售價乃經本公司與配售代理參考市場狀況及股份現行市價經公平磋商後釐定。
配售股份佔 (i)於本公告日期本公司已發行股本的約 3.50%;及 (ii) 經配發及發行配售股份擴大後
本公司已發行股本的約 3.38%(假設本公司已發行股本自本公告日期起至交割日期並無變動)。
假設所有配售股份均獲配售,配售事項所得款項總額預計約為 2,352.3 百萬港元,配售事項所得
款項淨額(扣除配售佣金及其他相關費用,其中包括專業費用)預計約為 2,327.1 百萬港元,相
當於每股配售股份之估計淨發行價約 30.17 港元。
所得款項用途
本公司目前擬將配售事項所得款項淨額用於以下用途:(i) 約 70%用於擴大本集團 AIDD 平台的產
能和基礎設施,包括自動化高通量濕實驗室設施、相關設備及實驗室升級;(ii) 約 20%用於與該
AIDD 平台相關的研發、數字化工作流程整合及全球業務拓展;及 (iii) 約 10%用於一般公司用途
及營運資金。所得款項的具體用途可由董事會或其授權人士根據本公司或本集團的營運狀況及實
際需要作出調整。
一般授權
配售股份將由本公司根據一般授權配發及發行,且將在所有方面與交割日期已發行股份享有同等
地位。本公司將向聯交所上市委員會申請配售股份於聯交所上市許可及買賣准許。
配售事項完成須待配售協議所載先決條件達成後方可作實,亦可能會或不會落實。本公司將依
據聯交所相關規則於適當時候另行刊發公告。本公司股東及潛在投資者於買賣本公司證券時務
請審慎行事。

2

根據一般授權配售新股份
董事會僅此宣布,於 2026 年 9 月 11 日(交易時段前)本公司與配售代理訂立配售協議,據此,本
公司委任配售代理及配售代理有條件同意,根據配售協議所載條款及條件,盡力促使合共不少於六
名承配人認購 77,126,000 股配售股份,配售價為每股 30.50 港元。
配售協議
配售協議的主要條款載列如下:
日期:

2026 年 9 月 11 日(交易時段前)

協議方:

(i)

本公司;及

(ii)

配售代理

經董事作出一切合理查詢後所深知、盡悉及確信,配售代理及彼等各自最終實益擁有人均為獨立
第三方。

配售股份
配售代理將於配售事項下配售合共 77,126,000 股配售股份。配售股份數目佔:
(i)

於本公告日期本公司已發行股本的約 3.50%;及

(ii)

經配發及發行配售股份擴大後本公司已發行股本的約 3.38%(假設本公司已發行股本自本公
告日期起至交割日期並無變動)
。

配售股份的最大票面總價值為 77,126 美元。
配售價
配售價為每股 30.50 港元,較:
(i)

股份於 2026年 9月 10日(即最後交易日)在聯交所所報收市價每股 32.00港元折讓約 4.7%;
及

(ii)

股份於緊接配售協議日期前最後五個連續交易日在聯交所所報平均收市價約每股 32.56 港元
折讓約 6.3%;

配售價乃經本公司與配售代理參考市場狀況及股份現行市價經公平磋商後釐定。淨配售價(扣除佣
金及預估費用後)約為每股配售股份 30.17 港元。

3

承配人
配售代理已同意盡力促使合共不少於六名承配人(彼等為專業投資者、機構投資者或其他投資者)
根據配售協議所載條款及條件認購配售股份。預期(i)配售代理所促使之承配人及彼等各自之最終實
益擁有人於交割日期仍將為獨立第三方;及(ii)概無承配人將在緊隨配售事項完成後成為主要股東。
配售股份地位
配售股份於繳足後應與本公司於交割日期或之前的其他已發行或將予發行的股份在所有方面享有同
等地位,包括有權收取於配發日期或之後宣派、作出或派付的所有股息及其他分派。
配售協議條件
配售事項交割須待若干條件(
「條件」
)達成後方可作實,包括:
(i) 聯交所上市委員會給予配售股份上市許可及買賣准許,且該等上市及准許其後未在配售協議載
列的代表配售股份的最終股票證書交付前被撤銷;
(ii) 配售代理已於交割日期或之前收到配售代理的美國法律顧問的意見,主要内容顯示配售代理根
據配售協議進行要約及出售配售股份無須根據美國證券法進行登記;
(iii) 配售代理已於交割日期收到中國證監會備案的實質上完整的草案以及本公司法律顧問就中國證
監會備案有關中國法律的意見草案,該等草案的形式及內容均令配售代理合理滿意;
(iv) 配售代理已於交割日期或之前收到就配售代理合理要求的有關事宜所提供的本公司開曼群島顧
問的法律意見,該等意見的形式及內容均令配售代理合理滿意;
(v) 截至交割日期,本公司根據配售協議作出的聲明及保證均屬真實及準確,且不存在誤導;及
(vi) 於交割日期或之前,本公司已履行其依據配售協議應履行或滿足的所有承諾和義務。
配售代理各自可全權酌情全部或部分豁免上述任何條件(條件(i)除外)。
配售協議的終止
若任一條件未在交割日期上午 8 時(香港時間)或之前(或本公司與配售代理另行約定的较晚時間
和/或日期)得到滿足,则:(i) 就條件 (i) 而言,本公司與配售代理之間不再負有任何配售事項下的
義務或責任,且任何一方均不得就配售協議項下的成本、損失、賠償或其他事項向另一方提出任何
索賠(期前違約及責任除外);(ii) 就條件(iii)至(vi)而言,若該等條件未能以令配售代理滿意的方式
獲得達成或未獲該等豁免,則配售代理可立即終止配售協議。

4

此外,不論配售協議中所含任何約定,若在交割日期上午 8 時(香港時間)之前發生以下情況:
(i) 如有任何新法律或法規制定、生效或實施,或現行法律或法規(包括其詮釋或適用方式)出現
任何變更或發展(包括預期變更),或在金融、政治、經濟、法律、軍事、工業、財政、監管、
貨幣、證券市場或其他情況方面發生任何變化或發展,而上述任何情況在任一配售代理的單方
意見中,對配售事項的成功構成或可能構成重大不利影響,或使進行配售事項變得或可能變得
不可行、不適宜或不明智,或發生配售代理合理控制範圍以外的任何不可抗力事件、股份交易
停牌(因配售事項而停牌者除外),或在若干主要證券交易所普遍適用於證券交易的任何暫停、
停牌或限制;
(ii) 如配售代理獲悉本公司有任何違反配售協議項下之陳述、保證或承諾(或在未以重大性為限定
的情況下,以任何重大方面違反),或出現任何事件或事宜,如其在配售協議日期前發生或出
現,將會導致上述任何陳述、保證或承諾變得不真實或不正確,或本公司在任何重大方面違反
或未能履行配售協議;或
(iii) 如本集團整體的業務、一般事務、管理、前景、資產及負債、股東權益、經營業績或(財務或
其他)狀況出現任何變化,或出現涉及預期變化的任何發展(於配售協議日期或之前已向公眾
披露者除外),而該等情況在任一配售代理的單方及合理意見中,對配售的成功構成或可能構
成重大不利影響,或使進行配售變得或可能變得不可行、不適宜或不明智,則

配售代理可向本公司發出書面通知終止配售協議。如本公司未能按照配售協議交付配售股份,配售
代理亦有權於任何時間向本公司發出書面通知以終止配售協議。
本公司的禁售承諾
本公司向配售代理承諾,未經配售代理事先書面同意,本公司不得:(i)直接或間接實施或安排或促
使配售、配發或發行或要約配發或發行或給予任何選擇權、權利或認股權證以認購本公司任何股本
證券或可轉換或可行使或可交換為本公司股本證券之任何證券,或訂立任何旨在或可能合理預期導
致上述任何一項之交易(不論是實際處置或因現金結算或其他方式作出的實質經濟處置),或(ii)
訂立任何全部或部分轉移該等股份所有權經濟風險的掉期或類似協議,無論上述(i)或(ii)項所述的任
何交易是否以交付股份(或其他有關證券)
、現金或其他方式結算;或 (iii) 自配售協議簽署之日起
至交割日期後 90 日止期間內,公開宣佈有意進行任何此類交易。上述規定並不適用於:(i) 根據配
售協議發行配售股份;(ii) 根據本公司現有股份期權或股份獎勵計劃發行或授出股份期權、獎勵或
股份;(iii) 於配售協議日期尚未行使或尚未歸屬之期權或獎勵在行使或歸屬時所發行之股份;及 (iv)
於配售協議日期前已公開宣佈的任何證券的發行。

5

交割
在滿足各項條件的前提下,預期交割將於 2026 年 9 月 15 日(或配售代理與本公司以書面形式另行
約定的其他時間和/或日期)或之前完成。
根據一般授權發行新股份
根據股東於 2026 年 6 月 5 日舉行的股東周年大會上通過的決議,董事被授予一般授權,以配發及發
行至多 437,683,468 股股份,為於股東周年大會日期已發行股份總數 2,188,417,343 股(不包括任何
庫存股,如有)的 20%。於本公告日期,概無根據一般授權配發及發行股份。配售股份的配發及發
行將在一般授權的限額內進行,毋須股東進一步批准。
上市申請
本公司將向聯交所上市委員會申請配售股份上市許可及買賣准許。
呈交中國監管機構文件
配售股份在聯交所發行及上市後,本公司將依照包括中國證監會備案在內的相關適用法律及法規,
向中國監管機構進行備案。
配售事項的理由及裨益及所得款項用途
本公司為一家廣受認同的生物科技公司,擁有專有 DNA 合成及相關生命科學技術。本公司主要從
事生命科學研究服務及產品、生物製劑以及細胞及基因治療的端到端 CRDMO 服務以及工業合成生
物學產品業務,服務於全球研究機構和生物製藥客戶。
董事認為,AIDD 正推動對一體化基礎設施需求的增長,該基礎設施結合計算設計與自動化、高通
量濕實驗室驗證,可縮短周期。本集團計劃將配售事項所得款項淨額用於加速資本支出,並擴大其
在該領域的產能,包括自動化高通量合成、篩選及檢測平台,以提升規模和縮短交付週期。
本集團現有營運依托當前的財務狀況及經營現金流。配售事項旨在為該擴張提供資金,而無需動用
現有業務的儲備現金,並擴大本公司的機構股東基礎。
鑒於上述情況,董事認為配售協議的條款及據此擬進行的交易(包括配售事項及配售價)屬公平合
理,並符合現行市場狀況。配售事項及訂立配售協議符合本公司及其全體股東的利益。
假設所有配售股份均獲配售,預期配售事項所得款項總額約為 2,352.3 百萬港元,預期配售事項所
得款項淨額(扣除配售佣金及其他相關費用,其中包括專業費用)預計約為 2,327.1 百萬港元,相
當於每股配售股份之估計淨發行價約 30.17 港元。

6

本公司目前擬將配售事項所得款項淨額用於以下用途:(i) 約 70%用於擴大集團 AIDD 平台的產能和
基礎設施,包括自動化高通量濕實驗室設施、相關設備及實驗室升級;(ii) 約 20%用於與該 AIDD
平台相關的研發、數字化工作流程整合及全球業務拓展;及 (iii) 約 10%用於一般公司用途及營運資
金。所得款項的具體用途可由董事會或其授權人士根據本公司或本集團的營運狀況及實際需要作出
調整。
本公司於過去十二個月的股本募資活動
於緊接本公告日期前的 12 個月內,本公司未進行任何涉及發行股本證券的募資活動。
配售事項對本公司股本的影響
本公司的股權結構概述如下表:(i)於本公告日期;以及(ii)緊隨配售事項交割後,假設所有配售股份
均獲配售,且除已配發和已發行的配售股份外本公司已發行股份自本公告日期起至交割日期並無變
動:
於本公告日期
股東

已發行股份
數目

佔本公司已發行
股份的概約百分
比
(%)

GenScript
附註
Corporation 2
其他非公眾股
東
承配人
其他公眾股東
合計

緊隨交割以及配售股份配發及發行後
已發行股份
數目

附註 1

佔本公司已發
行股份的概約
百分比
(%)

附註 1

799,999,123

36.32

799,999,123

35.09

4,016,989

0.18

4,016,989

0.18

1,398,887,684

63.50

77,126,000
1,398,887,684

3.38
61.35

2,202,903,796

100.00

2,280,029,796

100.00

附註:
1.

由於百分比數字四捨五入至小數點後兩位,上表中百分比數字的總和可能與所示的相關小計或總百分比
數字不符。

2.

GenScript Corporation 為一家於美國特拉華州註冊成立的公司,亦為本公司控股股東之一。於本公告發佈
日期,其分別由章方良、章氏信託、金偉紅、金氏 2025 年信託、金氏 2023 年信託、金氏 2026 年信託、
王魯泉、吳詠梅(以其本人名義及通過若干家族信託持有)
、 王燁、王氏信託、王氏 2026 年信託、牟英
軍及新澤西州慈善 B 社區基金會分別擁有約 10.87%、 20.19%、 4.86%、0.93%、 0.96%、 2.44%、 22.76%、
22.66%、 2.37%、 8.06%、 1.78%、 1.05%及 1.07%。

7

本公告以英文發佈,並附有中文翻譯。如中英文版本有任何不一致或歧義,應以英文版爲準。
配售事項的交割須視配售協議所載先決條件達成後方可作實,亦可能會或不會落實。本公司將根據
聯交所相關規則於適當時候另行刊發公告。本公司股東及潛在投資者於買賣本公司證券時務請審慎
行事。
釋義
於本公告內,除文義另有所指外,下列詞彙具有以下涵義。
「股東周年大會」

本公司於 2026 年 6 月 5 日舉行的股東周年大會

「AIDD」

人工智能驅動的藥物發現

「董事會」

董事會

「交割日期」

預期為 2026 年 9 月 15 日,或本公司與配售代理以書面形式另行約
定之日期

「本公司」

金斯瑞生物科技股份有限公司,根據開曼群島法例註冊成立的獲
豁免有限責任公司(股份代號: 1548)

「交割」

根據配售協議之條款及條件交割配售事項

「關連人士」

具有上市規則所賦予之涵義

「控股股東」

具有上市規則所賦予之涵義

「中國證監會」

中國證券監督管理委員會

「中國證監會備案」

就配售協議所預期進行的配售事項及任何交易作出的中國證監會
備案報告(包括任何修訂、補充及╱或修改)及任何相關證明材
料

「董事」

本公司董事

「潘九安」

潘九安先生,獨立非執行董事

「章方良」

章方良博士,執行董事

「一般授權」

股東周年大會通過的決議案授予董事的一般授權,以配發、發行
或以其他方式處理不超過決議案通過當日已發行股份(不包括庫
存股,如有)總數 20%的新股份

「本集團」

本公司及其不時之附屬公司

「港元」

香港法定貨幣港元

「香港」

中國香港特別行政區

8

「獨立第三方」

獨立於且與本公司及其關連人士並無關連的第三方

「金氏 2023 年信託」

金偉紅 2023 年授予人保留年金信託

「金氏 2025 年信託」

金偉紅 2025 年授予人保留年金信託

「金氏 2026 年信託」

金偉紅 2026 年授予人保留年金信託

「王魯泉」

王魯泉博士

「最後交易日」

2026 年 9 月 10 日,即簽訂配售協議前的最後交易日

「上市委員會」

具有上市規則所賦予之涵義

「上市規則」

香港聯合交易所有限公司證券上市規則(經不時修訂、補充或以
其他方式修改)

「承配人」

經配售代理促使,根據配售協議認購配售股份的任何專業投資
者、機構投資者或其他投資者,并為獨立第三方

「配售事項」

配售代理或其代表根據配售協議所載之條款及條件配售配售股份

「配售代理」

Citigroup Global Markets Limited 及 J.P. Morgan Securities (Asia
Pacific) Limited,各自均為配售代理(按英文字母順序排序)

「配售協議」

本公司與配售代理於 2026 年 9 月 11 日訂立的有條件配售協議

「配售價」

每股配售股份 30.50 港元

「配售股份」

根據配售協議的條款及條件將予配發及發行的 77,126,000 股新股
份,在所有方面與已發行股份享有同等地位,並具有於配售股份
發行日期所附的所有權利

「中國」

中華人民共和國,就本公告而言,不包括中國香港、澳門特別行
政區及台灣地區

「孟建革」

孟建革先生,董事會主席及執行董事

「王燁」

王燁女士,執行董事及本公司總裁

「股份」

本公司股本中每股面值 0.001 美元的普通股

「股東」

不時之股份持有人

「聯交所」

香港聯合交易所有限公司

「主要股東」

具有上市規則所賦予之涵義

「美國」

美利堅合眾國

「美元」

美元

9

「施晨陽」

施晨陽博士,獨立非執行董事

「王氏信託」

王燁設立的 2017 年王燁家族信託

「王氏 2026 年信託」

王燁設立的王燁 2026 年授予人保留年金信託

「章氏信託」

章方良設立的 2017 年章方良信託

「%」

百分比

承董事會命
Genscript Biotech Corporation

主席及執行董事
孟建革

香港,2026 年 9 月 11 日

於本公告日期,執行董事為孟建革先生、章方良博士、朱力博士及王燁女士;及獨立非執行董事為
Alphonse Galdes 博士、張耀樑先生、潘九安先生、John Quelch 博士、Ross Grossman 博士及施晨陽博士。

10

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