Securities code: 688276 Securities abbreviation: Baike Biotechnology Announcement No.: 2025-014

Changchun Baike Biotechnology Co., Ltd

Special report on the deposit and actual use of raised funds in 2024

The board of directors and all directors of the company guarantee that there are no false records, misleading statements or material omissions in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.

In accordance with the "Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Raised Funds by Listed Companies" and "Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation" and other relevant regulations, the board of directors of Changchun Baike Biotechnology Co., Ltd. (hereinafter referred to as the "Company" or "Baike Bio") has made a special explanation of the deposit and actual use of the company's raised funds in 2024 as follows:

First, the basic situation of the funds raised

(1) The actual amount of funds raised after deducting the issuance costs and the time when the funds arrive in the account

With the approval of the China Securities Regulatory Commission's "Reply on Agreeing to the Registration of Changchun Baike Biotechnology Co., Ltd.'s Initial Public Offering of Shares" (Zheng Jian Xu Xu [2021] No. 1594), the company issued 41,284,070 RMB ordinary shares (A shares) by way of public issuance to the public, at an issue price of RMB 36.35 per share, raising a total of RMB 1,500,675,944.50, deducting underwriting fees, sponsor fees, audit fees, lawyer fees, information disclosure and other issuance costs After RMB 104,881,526.35, the actual net amount of funds raised was RMB 1,395,794,418.15. The above-mentioned funds in place have been verified by Daxin Certified Public Accountants (Special General Partnership), and Daxin Yanzi [2021] No. 7-00002 "Changchun Baike Biotechnology Co., Ltd. Capital Verification Report" has been issued. The company has adopted a special account storage management for the raised funds.

(2) The amount used in previous years, the amount used in the current year and the current balance

In 2021, the company used 541,244,130.12 yuan of raised funds for fund-raising projects

the renewal expenses were 5,737.39 yuan, and the total account expenses of the fund-raising projects were 541,249,867.51 yuan; The interest income of the fund-raising project account was RMB8,851,837.23.

In 2022, the company used 210,057,597.53 yuan of raised funds for fundraising projects

the renewal expenses were 6,375.37 yuan, and the total account expenses of the fund-raising projects were 210,063,972.90 yuan; The interest income of the fund-raising project account was 14,886,732.39 yuan.

In 2023, the company will use the raised funds for the fundraising project to use 260,879,244.02 yuan, and the account of the fundraising and investment project will be in hand

The renewal expenses were 6,854.80 yuan, the project balance raised funds permanently replenished the working capital of 18,597,269.02 yuan, the idle raised funds temporarily supplemented the working capital of 100,000,000.00 yuan, and the total expenditure of the fund-raising project account was 379,483,367.84 yuan; The interest income of the fund-raising project account was 9,672,356.87 yuan.

In 2024, the company will use 106,590,294.98 yuan of raised funds for fund-raising projects

The renewal expenses were 3,766.67 yuan, the project balance raised funds permanently supplemented the working capital of 18,953,983.64 yuan, the idle raised funds temporarily supplemented the working capital of 100,000,000.00 yuan, and the total expenditure of the fund-raising project account was 225,548,045.29 yuan; The interest income of the fund-raising project account was 2,900,617.94 yuan, and 100,000,000.00 yuan of temporary supplementary liquidity was recovered.

As of December 31, 2024, the company has used a total of RMB 1,118,771,266.65 of the raised funds for its investment projects, RMB 22,734.23 for the cumulative handling fees of the fund-raising project account, and RMB 1,118,794,000.88 for the total expenditure of the fund-raising project account. The accumulated interest income of the fund-raising project account was 36,311,544.43 yuan.

Note: The above-mentioned "use of raised funds for fund-raising projects" and "total account expenditures for fund-raising projects" include the amount of RMB 366,636,752.95 invested in the early stage of replacement.

As of December 31, 2024, the balance of the fundraising project account is 175,760,709.04 yuan, as detailed in the following table:

Amount unit: RMB

Project amount

The total amount of funds raised is 1,500,675,944.50

Less: Issuance-related expenses of 104,881,526.35

Net proceeds 1,395,794,418.15

Less: The cumulative amount of funds raised (including the amount invested in the early stage of replacement) was 1,118,794,000.88

Among them: 1,118,771,266.65 was invested in fundraising projects

Bank charges 22,734.23

Add: Interest income from the account of the fund-raising project 36,311,544.43

Less: 37,551,252.66 of the funds raised from the project balance permanently replenished the working capital

Less: Idle raised funds temporarily replenish liquidity 100,000,000.00

As of December 31, 2024, the account balance of the fundraising project is 175,760,709.04

Second, the management of raised funds

The deposit and use of the company's raised funds are in accordance with the "Administrative Measures for the Issuance of Securities by Listed Companies" and the "Supervision of Listed Companies".

Management Guidelines No. 2 - Regulatory Requirements for the Management and Use of Funds Raised by Listed Companies, Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation, Rules for the Listing of Stocks on the Science and Technology Innovation Board of the Shanghai Stock Exchange, Measures for the Continuous Supervision of Listed Companies on the Science and Technology Innovation Board (for Trial Implementation) and other relevant laws and regulations, the raised funds have been deposited and used in special accounts, and there is no disguised change in the use of raised funds and damage to the interests of shareholders, and there is no illegal use of raised funds.

The company has adopted a special account storage system for the raised funds, and after the aforesaid raised funds have been deposited in the special account for raised funds, and signed the Tripartite Supervision Agreement on the Storage of Special Accounts for Raised Funds (hereinafter referred to as the "Supervision Agreement") with the sponsor institution and the bank supervising the special account for raised funds. There are no material differences between the regulatory agreement and the model regulatory agreement of the stock exchange, and there is no problem in the performance of the regulatory agreement.

As of December 31, 2024, the storage of proceeds is set out below:

Amount unit: RMB

Bank Name, Account Number, Cut-off Date Balance

Huaxia Bank Changchun Branch Business Department (Note 1) 13750000001195491

Bank of China Changchun Nanguan Branch (formerly Bank of China

Changchun Weifeng International Branch 160456153123 Co., Ltd

OK)

61010078801800006276, President of Shanghai Pudong Development Bank Co., Ltd

Spring Branch (Note 2)

Ping An Bank Co., Ltd. Changchun Branch (Note 15265555555507

3)

Changchun High-tech Branch of Industrial Bank Co., Ltd. 581160100100161802 175,760,709.04

Yes

Changchun High-tech Branch of Industrial Bank Co., Ltd. 581160100100161910

Line (Note 4)

Ping An Bank Co., Ltd. Changchun Branch 15145291800062

(Note 5)

Total 175,760,709.04

Note 1: The Business Department of Huaxia Bank Changchun Branch (account number: 13750000001195491) is "Changchun Baike Biotechnology Stock".

The company's annual output of 20 million live attenuated varicella vaccine, herpes zoster live attenuated vaccine project" raised funds storage account,

The project was closed in August 2023 with a surplus of $18,597,269.02 and a permanent replenishment of liquidity, the account

The account closure has been completed in July 2024, with an interest of 1.61 yuan to permanently replenish liquidity, and the project has accumulated permanent replenishment of liquidity

18,597,270.63 RMB.

Note 2: Shanghai Pudong Development Bank Co., Ltd. Changchun Branch (account number: 61010078801800006276) is a special account for the fund-raising storage of the "Changchun Baike Biotechnology Co., Ltd.'s annual output of 10 million live attenuated nasal spray influenza vaccine (liquid preparations) project", which was completed in July 2024 and the account was closed in July 2024. The remaining amount of RMB 18,953,982.03 will be used to permanently replenish liquidity.

Note 3: In order to strengthen the risk management of raised funds, on January 4, 2022, the company closed the special account of Jilin Jiutai Rural Commercial Bank Co., Ltd. Jingyue Branch (account number: 0710436011015200019815) corresponding to the project of "annual output of 3 million rabies vaccines and 3 million Hib vaccines". The special account for raising funds corresponding to the relevant fundraising projects was changed to the special account of Ping An Bank Co., Ltd. Changchun Branch (account number: 15265555555507), which was closed in July 2024.

Note 4: Changchun High-tech Sub-branch of Industrial Bank Co., Ltd. (account number: 581160100100161910) is an over-raised fund storage account, and the company's over-raised funds are 0.00 yuan, which has been closed in July 2024 for the convenience of account management.

Note 5: The funds raised from the project with an annual output of 3 million rabies vaccines and 3 million Hib vaccines are only used for the construction of the rabies vaccine project with an annual output of 3 million people, of which the rabies vaccine equipment part is implemented by Jilin Huikang Biopharmaceutical Co., Ltd., a wholly-owned subsidiary, that is, the equipment is paid by the subsidiary. After the company transferred the equipment payment to the Changchun Branch of Ping An Bank Co., Ltd. (account number: 15265555555507) to the Changchun branch of Ping An Bank Co., Ltd. (account number: 15145291800062), the subsidiary paid it immediately, with a closing book balance of 0.00 yuan, and the account was closed in July 2024.

3. The actual use of the funds raised in 2024

(1) The use of funds for investment projects of raised funds (hereinafter referred to as "fund-raising projects") is detailed in Annex 1 of this report "Comparison Table of Utilization of Raised Funds".

(2) The advance investment and replacement of the fund-raising project

The company held the 15th meeting of the 4th session of the board of directors and the 4th session of the board of supervisors on July 9, 2021

At the eighth meeting, the "Proposal on Using Raised Funds to Replace the Self-Raised Funds Invested in the Raised Projects in Advance" was deliberated and approved, and it was agreed that the company would use the raised funds to replace the self-raised funds that had been invested in the investment projects of the raised funds in advance, with a total replacement fund of 366,636,752.95 yuan. According to the "About Changchun Baike Biotechnology Co., Ltd. Replacing the Self-Raising of Raised Funds with Raised Funds for Projects Invested in Raised Funds" issued by Daxin Certified Public Accountants (Special General Partnership).

Assurance Report of Funds", as of June 30, 2021, the company invested in the fundraising project with self-raised funds

The amount of international investment was RMB366,636,752.95. As of December 31, 2024, the company will raise funds

The total amount of self-raised funds to replace the projects that have been invested in the raised funds is RMB366,636,752.95.

(3) Temporarily replenish liquidity with idle raised funds

On August 22, 2023, the company held the 19th meeting of the 5th board of directors and the 5th board of supervisors

At the 13th meeting, the "Proposal on Using Part of the Idle Raised Funds to Temporarily Supplement Liquidity" was deliberated and passed. Approved the Company to use the idle raised funds of no more than RMB100 million in the "Product Research and Development Project" to temporarily replenish the working capital, and the use period shall not exceed 12 months from the date of deliberation and approval by the Board of Directors of the Company, and shall expire

or return the funds to the special account for raising funds in a timely manner according to the progress and needs of the fundraising project. See details for details

On August 24, 2023, the company disclosed www.sse.com.cn the "Changchun

Announcement of Baike Biotechnology Co., Ltd. on Using Part of the Idle Raised Funds to Temporarily Replenish Liquidity (Announcement No.: 2023-033).

The company held the 26th meeting of the 5th board of directors and the 5th board of supervisors on August 14, 2024

At the twentieth meeting, the "Proposal on Returning the Funds Raised for Temporary Replenishment of Liquidity and Using Part of the Idle Raised Funds for Temporary Replenishment of Liquidity" was deliberated and approved, and it was agreed that the company would return the raised funds of 100 million yuan for temporary replenishment of liquidity to the special account for raising funds, and use the idle raised funds of no more than 100 million yuan in the "product research and development project" to temporarily supplement the working capital, and the use period shall not exceed 12 from the date of deliberation and approval by the board of directors of the company months, due or according to the progress and needs of the fundraising project

Timely return of funds to the special account for raising funds. Details are detailed in the company's announcement on August 16, 2024

Announcement of Changchun Baike Biotechnology Co., Ltd. on Using Part of the Idle Raised Funds to Temporarily Supplement Liquidity (Announcement No.: 2024-031) disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn).

(4) Cash management of idle raised funds and investment in related products

On October 24, 2024, the company held the 27th meeting of the fifth board of directors of the company

At the 21st meeting of the Board of Supervisors, the "Proposal on Depositing Part of the Temporarily Idle Raised Funds in the Form of Time Deposits" was deliberated and approved, and it was agreed that the company would deposit part of the temporarily idle raised funds in the form of fixed deposits on the premise of ensuring that the implementation of the investment projects of the raised funds would not be affected and the safety of the raised funds would be ensured. The Board of Supervisors of the Company has agreed that the Company will deposit the temporarily idle raised funds with a maximum amount of no more than RMB 150 million (inclusive) in the form of fixed deposits, and the funds can be used on a rolling basis within the scope of the aforesaid quota. The temporary idle raised funds deposited in the form of fixed deposits will not affect the company's daily capital turnover needs and the normal operation of the raised funds, nor will it affect the normal development of the company's main business, and there is no harm to the interests of the company and shareholders. For details, please refer to the "Announcement on Depositing Part of the Temporarily Idle Raised Funds in the Form of Time Deposits" (Announcement No.: 2024-037) disclosed by the Company on the website of the Shanghai Stock Exchange (www.sse.com.cn) on October 26, 2024.

As of December 31, 2024, the Company's cash management of idle raised funds is detailed in the following table:

Bank Name Product Type Amount (RMB) Value Date Maturity Date Redeemed or not

return

Industrial Bank Co., Ltd. Time Deposit Certificates 100,000,000.00 2024-10-29 2025-10-29 Withdraw at any time

Changchun high-tech branch of the company

Industrial Bank Co., Ltd

CD 30,000,000.00 2024-10-29 2025-04-29 Withdraw at any time

Changchun high-tech branch of the company

Industrial Bank Co., Ltd

Time Deposit Certificates 20,000,000.00 2024-10-29 2025-01-29 Withdraw at any time

Changchun high-tech branch of the company

Total 150,000,000.00 / / /

(5) Permanently replenishing working capital or repaying bank loans with over-raised funds

As of December 31, 2024, the company has not used over-raised funds to permanently replenish liquidity or return silver

in the case of bank loans.

(6) The use of over-raised funds for projects under construction and new projects (including the acquisition of assets, etc.).

As of December 31, 2024, the Company has no over-raised funds for projects under construction and new projects (including

acquisition of assets, etc.

(7) The use of surplus raised funds

On August 22, 2023, the company held the 19th meeting of the 5th board of directors and the 5th board of supervisors

At the 13th meeting, the "Proposal on the Completion of Part of the Initial Public Offering of Shares and the Permanent Replenishment of Liquidity with the Surplus Raised Funds" was deliberated and approved, and it was agreed that the "Changchun Baike Biotechnology Co., Ltd. Annual Output of 20 Million Doses of Live Attenuated Varicella Vaccine and Live Attenuated Herpes Zoster Vaccine" of the company's initial public offering of shares was completed, and the surplus raised funds will be permanently replenished for working capital for the company's daily production and operation activities. For details, please refer to the "Announcement of Changchun Baike Biotechnology Co., Ltd. on the Completion of Part of the Initial Public Offering of Shares and the Permanent Replenishment of Liquidity with the Surplus Raised Funds" (Announcement No.: 2023-032) disclosed by the company on the website of the Shanghai Stock Exchange (www.sse.com.cn) on the same day.

The company held the 25th meeting of the 5th board of directors and the 5th board of supervisors on July 18, 2024

At the 19th meeting, the "Proposal on the Completion of Part of the Initial Public Offering of Shares and the Permanent Replenishment of Liquidity with the Surplus Raised Funds" was deliberated and approved, and it was agreed that the "Changchun Baike Biotechnology Co., Ltd. Annual Output of 10 Million Nasal Spray Influenza Live Attenuated Vaccine (Liquid Preparation) Project" of the company's initial public offering of shares was completed, and the surplus raised funds were permanently supplemented with working capital for the company's daily production and operation

Activity. For details, please refer to the company's website on the Shanghai Stock Exchange on July 20, 2024

(www.sse.com.cn) Disclosure of the "Changchun Baike Biotechnology Co., Ltd. on the Initial Public Offering of Shares

Announcement on the completion of sub-fundraising and investment projects and the permanent replenishment of liquidity with the surplus raised funds (Announcement No.: 2024-024).

(8) Other circumstances regarding the use of raised funds

On August 24, 2022, the Company held the 8th meeting of the 5th Board of Directors and the 5th meeting of the 5th Board of Supervisors

At the meeting, the "Proposal on the Postponement of Part of the Fundraising Project" was deliberated and approved, and it was agreed that the company would raise part of the fundraising project

The time when the target has reached the intended usable state will be extended; On August 22, 2023, the 10th meeting of the 5th session of the Board of Directors was held

At the ninth meeting and the thirteenth meeting of the fifth board of supervisors, the "Proposal on the Extension of Some Fund-raising Projects" was deliberated and approved, and it was agreed that the company would postpone the time for the "Changchun Baike Biotechnology Co., Ltd.'s annual output of 10 million live attenuated nasal spray influenza vaccine (liquid preparations)" to reach the scheduled usable state; On December 12, 2023, the company held the 21st meeting of the 5th board of directors and the 15th meeting of the 5th board of supervisors.

On December 29, 2023, the first extraordinary general meeting of shareholders in 2023 was held, and the "About Part

Proposal on the change of use of raised funds investment projects", agreed that the company should be in "Changchun Baike Biotechnology Co., Ltd."

The annual output of 3 million rabies vaccine and 3 million HIB vaccine projects will be added to the existing construction

content, changed the use of the project, and changed its name to "Changchun Baike Biotechnology Co., Ltd. Annual Output of 3 Million Copies of Freeze-dried Human Rabies Vaccine (Human Diploid Cell) Project", and at the same time, according to the actual construction progress of the new project, it is expected to reach the usable state to December 2026. The details are as follows:

The original project reaches the first adjusted item and the second adjusted item

Project Name Scheduled Available Target Reach Scheduled Available

Status Date Use Status Date Use Status Date

1. Changchun Baike Biotechnology Co., Ltd. has an annual output of 20 million

Human live attenuated varicella vaccine, live attenuated herpes zoster vaccine July 2022 August 2023

eye

2. Changchun Baike Biotechnology Co., Ltd. has an annual output of 6 million people July 2022 to August 2025

Adsorbed acellular diphtheria-pertussis (three-component) combination vaccine project

3. Changchun Baike Biotechnology Co., Ltd. has an annual output of 10 million July 2022, April 2023, March 2024

Human live attenuated nasal spray influenza vaccine (liquid preparation) project

4. Changchun Baike Biotechnology Co., Ltd. has an annual output of 3 million people

Lyophilized human rabies vaccine (human diploid cells) item

(Original project name: Changchun Baike Biotechnology Co., Ltd. June 2023, June 2025, December 2026.)

3 million doses of rabies vaccine and 3 million doses of Hib disease

Seedling Project)

Note 1: Based on the actual progress of some of the fundraising projects, the company will adjust the date of the scheduled availability of some fundraising projects under the premise that there is no change in the project implementation entity and implementation method. For details of the specific content and reasons for the change, please refer to the "Announcement of Changchun Baike Biotechnology Co., Ltd. on the Postponement of Some Fundraising and Investment Projects" (Announcement No.: 2022-024) disclosed by the Company on the website of the Shanghai Stock Exchange (www.sse.com.cn) on August 26, 2022, and on the Shanghai Stock Exchange on August 24, 2023

The "Announcement of Changchun Baike Biotechnology Co., Ltd. on the Postponement of Some Fund-raising and Investment Projects" (Announcement No.: 2023-031) disclosed on the website (www.sse.com.cn) of E-Exchange and the "Announcement of Changchun Baike Biotechnology Co., Ltd. on the Change of Use of Part of the Raised Funds Investment Projects" (Announcement No.: 2023-044) disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn) on December 14, 2023.

Note 2: "Changchun Baike Biotechnology Co., Ltd.'s annual output of 10 million copies of live attenuated nasal spray influenza vaccine (liquid preparation) project" corresponds to the development of the live attenuated nasal spray influenza vaccine received the "Notice of Acceptance" issued by the Center for Drug Evaluation of the National Medical Products Administration for the marketing authorization application of the live attenuated nasal spray influenza vaccine, for details, please refer www.sse.com.cn to the " Announcement of Changchun Baike Biotechnology Co., Ltd. on the Acceptance of the Application for Marketing Authorization for Voluntary Disclosure of Live Attenuated Nasal Spray Influenza Vaccine (Announcement No.: 2024-017).

Note 3: As of December 31, 2024, the project with an annual output of 6 million adsorbed acellular diphtheria-pertussis (three-component) combined vaccine has completed civil engineering, purification and other projects, and completed all workshop construction work. However, the adsorbed cell-free diphtheria-pertussis (three-component) combination vaccine corresponding to the project under development is affected by drug registration approval and clinical trial progress, and the date when the project reaches the scheduled usable state needs to be adjusted. As of the disclosure date of this report, the fifth meeting of the sixth board of directors and the second meeting of the sixth board of supervisors of the company deliberated on the "Proposal on the Postponement of Some Fund-raising Projects", and agreed to adjust the date when the annual output of 6 million adsorbed acellular diphtheria-pertussis (three-component) combined vaccine project reaches the scheduled usable state to April 2028. For details, please refer to the "Announcement of Changchun Baike Biotechnology Co., Ltd. on the Postponement of Some Fundraising and Investment Projects" (Announcement No.: 2025-015) disclosed by the Company on the website of the Shanghai Stock Exchange (www.sse.com.cn) on April 21, 2025.

4. Change the use of funds for investment projects with raised funds

The company held the 21st meeting of the 5th board of directors and the 5th board of supervisors on December 12, 2023

The 15th meeting was held on December 29, 2023 for the first extraordinary general meeting of shareholders in 2023 to deliberate and approve

After the "Proposal on the Change of Use of Part of the Raised Funds Investment Project", it was agreed that the company would be in "Changchun Baikesheng

The annual output of 3 million rabies vaccines and 3 million Hib vaccines is produced by Wuji Technology Co., Ltd. (hereinafter referred to as

On the basis of the existing construction, the project content was added, the project use was changed, and the name was changed to "Changchun Baike Biotechnology Co., Ltd. annual output of 3 million lyophilized human rabies vaccine (human diploid cells) project" (hereinafter referred to as the "new project").

(1) The use of funds for fund-raising projects

The total investment amount of the original project is 33,000.00 yuan, and the raised funds are planned to be 176.80 million yuan. As of 2023

On November 30, the amount of funds raised by the original project plan has been used. The details of the use of the raised funds are as follows:

Unit: 10,000 yuan

Total amount of investment Proposed interest income of raised funds Accumulated amount of savings from raised funds

Original Project Name (1) Total Investment Amount (3) Amount of Funds Raised (5)=(2)

（2） （4） +（3）-（4）

Changchun Baike Biotechnology

The annual output of the joint-stock company is 3 million 33,000.00 17,680.00 563.15 18,243.15 0.00

Human rabies vaccine, 300

10,000 Hib vaccine project

Note: Net interest income is the net amount of accumulated interest received on bank deposits, etc., minus bank charges, etc.

(2) The specific situation before and after the change of the fundraising project

Unit: 10,000 yuan

The original plan is planned to be put into investment after the change

Planned use is expected to reach Planned use is expected to reach fundraising

The name of the original project The investment of the project can be increased or decreased by the new project name of the project investment and the funds raised can be increased

Weigh the total amount with the status of the total amount with the state of the situation

Time Time

Changchun 100 grams Changchun 100 grams

Biotechnology Biotechnology Co., Ltd

Joint-stock company The company has an annual output

Annual output 3 million 33,000.00 17,680.00 3 million servings in 2025 44,800.53 18,243.15 563.15 in 2026

Human rabies June freeze-dried human maniac December

Vaccine, 300 canine vaccine

10,000 servings of Hib (human diploid

Vaccine Project Cell) project

Note: The increase of 5.6315 million yuan in the funds to be invested is the net amount of bank deposit interest received from the funds raised by the original project after deducting bank charges.

5. Problems in the use and disclosure of raised funds

The disclosure of the use of the company's raised funds is consistent with the actual use, and there is no failure to disclose in a timely, true, accurate and complete manner, nor is there any illegal use of the raised funds.

6. Assurance opinion of the accounting firm

We believe that the special report on the funds raised by Baike Biotech Co., Ltd. has been prepared in accordance with the China Securities Regulatory Commission's "Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Raised Funds by Listed Companies (Revised in 2022)" and "Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation" and related format guidelines, and fairly reflects the deposit and use of the company's raised funds in 2024 in all material aspects.

7. Sponsor verification opinions

The sponsor believes that the deposit and use of the company's raised funds in 2024 are in accordance with the Administrative Measures for the Sponsorship Business of Securities Issuance and Listing, the Rules for the Listing of Stocks on the Shanghai Stock Exchange (revised in April 2024), the Rules for the Listing of Stocks on the Science and Technology Innovation Board of the Shanghai Stock Exchange (revised in April 2024), the Self-Regulatory Guidelines for Listed Companies on the Shanghai Stock Exchange No. 11 - Continuous Supervision and the Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Raised Funds by Listed Companies (Revised in 2022)" and other relevant laws, regulations and regulations, there is no disguised change in the use of raised funds and damage to the interests of shareholders, and there is no illegal use of raised funds.

The announcement is hereby made.

Board of Directors of Changchun Baike Biotechnology Co., Ltd

April 21, 2025

Annex 1:

Comparison table of the use of raised funds

Unit: 10,000 yuan

Total funds raised 139,579.44 The total amount of funds raised during the year was 10,659.03

Total amount of funds raised for change of purpose 18,243.15 The total amount of funds raised has been invested cumully

Proportion of total funds raised for change of purpose 13.07% 111,877.13

Changed as of the end of the period accumulated as of the deadline of the project up to the project may

Project, including the amount of investment committed as of the end of the period Cumulative investment amount as of the end of the period Completion of the investment to the scheduled current year Whether the feasibility is

Committed investment projects Partial change Raised funds Commitment Adjusted investment Commitment amount Invested amount for the current year and committed investment Progress Can be used to achieve whether it is expected to occur

(e.g. Total Investment Total (1) Amount (2) Difference in Amount (%) (4) Status Day Benefit Significant Change

Yes) (3) = (2)-(1) = Periodization

(2)/(1)

1. Changchun Baike Biotechnology

The annual output of the joint-stock company is 20 million in 2023

Live attenuated varicella vaccine for humans, No 18,205.00 14,351.66 14,351.66 0 12,620.67 -1,730.99 87.94 August Not applicable Not applicable No

Live attenuated herpes zoster vaccine

project

2. Changchun Baike Biotechnology

The annual output of the joint-stock company is 6 million in 2025

Human adsorbed cell-free Betaphroidine No 29,380.00 22,021.92 22,021.92 329.71 22,173.62 151.70 100.69 Aug Not applicable Not applicable No

Broken (three-component) combination vaccine

project

3. Changchun Baike Biotechnology

Annual output of joint-stock company 10 million No 16,285.00 6,336.44 6,336.44 22.67 4,573.29 -1,763.15 72.17 2024 Not applicable Not applicable No

Human nasal spray influenza attenuated live for 3 months

Vaccine (liquid preparation) project

4. Changchun Baike Biotechnology

The annual output of the joint-stock company is 3 million in 2026

Lyophilized human rabies Yes 17,680.00 18,243.15 18,243.15 0 18,243.15 0 100.00 12 month N/A N/A No

Vaccine (human diploid cells)

project

5. R&D projects under development No 86,533.00 79,189.42 79,189.42 10,306.65 54,266.39 -24,923.03 68.53 Not applicable Not applicable Not applicable No

Total — 168,083.00 140,142.59 140,142.59 10,659.03 111,877.13 -28,265.46 79.83 — — — —

1. The company held the eighth meeting of the fifth board of directors and the fifth meeting of the fifth board of supervisors on August 24, 2022.

The "Proposal on the Extension of Some Fund-raising and Investment Projects" was deliberated and approved, and it was agreed that the company would reach the intended usability of some of the fund-raising projects

state of time to be extended. Combined with the actual progress of some of the current fundraising projects, the company is in the main body and implementation party of the project

On the premise that the investment purpose and scale of the raised funds do not change, some of the fundraising projects are scheduled to be usable

The dates will be adjusted, among them: Changchun Baike Biotechnology Co., Ltd. will produce 20 million live attenuated varicella vaccines per year, bands

The date of the live attenuated herpes vaccine program reaching the intended usable status is adjusted to August 2023; Changchun Baike Biotechnology Co., Ltd

The annual output of 6 million doses of adsorbed acellular diphtheria-pertussis (three-component) combination vaccine project reached the scheduled usable state and the date was adjusted

August 2025; Changchun Baike Biotechnology Co., Ltd. has an annual output of 10 million doses of live attenuated nasal spray influenza vaccine (liquid

The date on which the project reaches its intended usable status will be adjusted to April 2023; Changchun Baike Biotechnology Co., Ltd. has an annual output of 300

The 10,000-dose rabies vaccine and 3 million HIB vaccine programs will reach the scheduled usable status and the date will be adjusted to June 2025.

The main reasons are: (1) the progress of the project is affected by changes in the external environment; (2) The progress of drug registration affects the project to reach the scheduled level

The time when the usage status was confirmed.

For details and reasons for the change, please refer to the Company's website on the Shanghai Stock Exchange on August 26, 2022

(www.sse.com.cn) Disclosure of the "Announcement of Changchun Baike Biotechnology Co., Ltd. on the Postponement of Some Fund-raising Projects" (public

Proclamation No. 2022-024).

2. The company held the 19th meeting of the 5th board of directors and the 13th meeting of the 5th board of supervisors on August 22, 2023

The "Proposal on the Postponement of Part of the Fund-raising Project" was deliberated and approved, and the company was agreed to the "Changchun Baike Biotechnology Co., Ltd."

Reasons for not meeting the planned schedule The project of producing 10 million live attenuated nasal spray influenza vaccine (liquid preparations) per year "will be ready for use again."

(Divided into specific fundraising projects) line extension.

Combined with the construction of the project, the progress of product research and development, the preparation work that needs to be carried out for registration and approval, etc., the company has the right to

The date of the project's scheduled usable status has been adjusted again and is expected to reach the expected usable status in March 2024. Specifically

Details of the changes and the reasons for the change were disclosed by the Company on the website of the Shanghai Stock Exchange (www.sse.com.cn) on August 24, 2023

Announcement of Changchun Baike Biotechnology Co., Ltd. on the Postponement of Some Fundraising Projects (Announcement No.: 2023-031).

3. The company held the 21st meeting of the 5th board of directors and the 15th meeting of the 5th board of supervisors on December 12, 2023

At the meeting, the first extraordinary general meeting of shareholders in 2023 was held on December 29, 2023, and the "About Partial Fundraising" was deliberated and approved

Proposal on the change of use of capital investment projects", agreed that the company in "Changchun Baike Biotechnology Co., Ltd. has an annual output of 3 million servings

Canine vaccine, 3 million HIB vaccine project", on the basis of the existing construction, add the project content, change the use of the project, and change the name

It is the "Changchun Baike Biotechnology Co., Ltd. with an annual output of 3 million lyophilized human rabies vaccine (human diploid cells) project".

In order to further improve the efficiency of the use of raised funds, combined with the company's strategic development needs, the company intends to use the original project

Alter. At the same time, according to the actual construction progress of the new project, it is expected that the time to reach the usable state will be adjusted to December 2026. tool

For details of the content and reasons for the change, please refer to the Company's website on the Shanghai Stock Exchange website (www.sse.com.cn) on December 14, 2023

Disclosed "Changchun Baike Biotechnology Co., Ltd. Announcement on the Change of Use of Part of the Raised Funds Investment Project" (Announcement Edition

No. 2023-044).

4. As of December 31, 2024, the annual output of 6 million doses of adsorbed acellular diphtheria-pertussis (three-component) combination vaccine item

The project has completed civil engineering, purification and other projects, and completed all workshop construction work. However, the project corresponds to the adsorption of cell-free varieties in the research variety

The diphtheria-pertussis (three-component) combination vaccine is affected by the progress of drug registration and clinical trials, and the items need to be adjusted to achieve the scheduled capacity

With the date of the state. As of the disclosure date of this report, the fifth meeting of the sixth board of directors and the second meeting of the sixth board of directors of the company have been approved

The meeting deliberated the "Proposal on the Postponement of Some Fund-raising Projects" and agreed to adsorb acellular diphtheria-pertussis with an annual output of 6 million copies (III

component) combination vaccine program, the date of reaching the intended usable status has been adjusted to April 2028. Details are set out in the company's 2025 filing

On April 21, the Shanghai Stock Exchange website (www.sse.com.cn) disclosed the "Changchun Baike Biotechnology Co., Ltd."

Announcement on the postponement of some fundraising projects (Announcement No.: 2025-015).

Explanation of significant changes in project feasibility None

The initial investment of the raised funds in the investment project was 366,636,752.95 yuan. As of December 31, 2024, the Company will raise funds

Advance investment and replacement of raised funds Investment Projects The total amount of funds to replace the self-raised funds invested in the raised funds projects is RMB 366,636,752.95. In 2024,

The company does not use the raised funds to replace the self-raised funds that have been invested in the fund-raising projects.

1. The company held the 19th meeting of the 5th board of directors and the 13th meeting of the 5th board of supervisors on August 22, 2023

The "Proposal on the Use of Part of the Idle Raised Funds to Temporarily Supplement Liquidity" was deliberated and passed, and the company was agreed to use "in

The idle raised funds of no more than RMB 10,000,000 in the "R&D product research and development project" shall temporarily supplement the working capital and be used for a period of time

It shall not exceed 12 months from the date of deliberation and approval by the board of directors of the company, and the capital shall be returned in a timely manner when it expires or according to the progress and needs of the fundraising project

Jinzhi special account for raising funds. For details, please refer to the company's website on the Shanghai Stock Exchange on August 24, 2023

(www.sse.com.cn) Disclosure of the "Changchun Baike Biotechnology Co., Ltd. on the use of part of the idle raised funds temporary supplement".

Announcement on Replenishment of Liquidity (Announcement No.: 2023-033).

2. The company held the 26th meeting of the 5th board of directors and the 20th meeting of the 5th board of supervisors on August 14, 2024

At the meeting, the meeting deliberated and approved the "On the Return of the Funds Raised for Temporary Replenishment of Liquidity and the Use of Part of the Idle Raised Funds".

The proposal for temporary replenishment of liquidity", agrees that the company will raise 10,000 yuan of funds previously used for temporary replenishment of liquidity

After the RMB is returned to the special account for raising funds, the idle amount of no more than RMB 10,000 in the "R&D project under development" will be used

The raised funds shall be temporarily supplemented with liquidity, and the use period shall not exceed 12 months from the date of deliberation and approval by the board of directors of the company, and shall expire

or return the funds to the special account for raising funds in a timely manner according to the progress and needs of the fund-raising project. Details are detailed in the company's 2024 statement

On August 16, the "Changchun Baike Biotechnology Co., Ltd." disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn).

Regarding the return of the funds raised for temporary replenishment of liquidity and the use of part of the idle raised funds to temporarily replenish liquidity

(Announcement No. 2024-031).

On October 24, 2024, the company held the 27th meeting of the 5th board of directors and the 21st meeting of the 5th board of supervisors

deliberated and passed the "Proposal on Depositing Part of the Temporarily Idle Raised Funds in the Form of Time Deposits", and agreed that the company would not guarantee that it would not

On the premise of influencing the implementation of the investment project of the raised funds and ensuring the safety of the raised funds, part of the temporarily idle funds shall be deposited in the form of fixed deposits

Raise funds. The Board of Supervisors of the Company approved that the Company will raise funds temporarily idle for a maximum amount of no more than RMB 150 million (inclusive).

Cash management of idle raised funds and investment related products are deposited in the form of fixed deposits, and within the scope of the above-mentioned limits, the funds can be used on a rolling basis. The funds raised will be determined by the temporary idleness

The deposit of futures deposits will not affect the normal turnover needs of the company's daily funds and the normal operation of the fund-raising projects, nor will it affect the company

The normal development of the company's main business does not harm the interests of the company and shareholders. Details are detailed in the company's October 2024 statement

On the 26th, the Shanghai Stock Exchange website (www.sse.com.cn) disclosed the "About Temporarily Idle Raised Funds for Fixed Deposit

Announcement on the deposit of funds (Announcement No.: 2024-037). For details, please refer to the explanations of 3 and (4) of this special report.

Permanent replenishment of liquidity or repayment of bank loans with over-raised funds None

1. The company held the 19th meeting of the 5th board of directors and the 13th meeting of the 5th board of supervisors on August 22, 2023

deliberated and approved the "Completion of Part of the Initial Public Offering of Shares and the Permanent Replenishment of the Liquidity of the Surplus Raised Funds".

The proposal of funds", agreed to the company's initial public offering of shares to raise funds to invest in the project "Changchun Baike Biotechnology Co., Ltd."

The project with an annual output of 20 million live attenuated varicella vaccines and live attenuated herpes zoster vaccines was completed, and the surplus funds raised were permanent

Replenish working capital for the company's daily production and operation activities. For details, please refer to the company's announcement in Shanghai on August 24, 2023

The stock exchange website (www.sse.com.cn) disclosed the "Changchun Baike Biotechnology Co., Ltd. on the initial public offering

The amount of the balance of the raised funds and the reasons for the formation of the announcement of the completion of the stock part of the fund-raising project and the permanent replenishment of the working capital with the surplus raised funds (Announcement No.: 2023-032).

2. The company held the 25th meeting of the 5th board of directors and the 19th meeting of the 5th board of supervisors on July 18, 2024

At the meeting, it deliberated and approved the "Completion of Part of the Initial Public Offering of Shares and the Permanent Replenishment of the Surplus Raised Funds".

The proposal to mobilize funds agreed to the company's initial public offering of shares to raise funds to invest in the project "Changchun Baike Biotechnology Co., Ltd."

The company's annual output of 10 million copies of live attenuated nasal spray influenza vaccine (liquid preparation) project was completed, and the surplus funds raised will be permanently replenished

Fill up working capital for the company's daily production and operation activities. For details, please refer to the company's Shanghai Stock Exchange on July 20, 2024

The "Changchun Baike Biotechnology Co., Ltd. on the Initial Public Offering of Shares" disclosed on the website of the Securities Exchange (www.sse.com.cn).

Announcement on the completion of part of the fund-raising project and the permanent replenishment of liquidity with the surplus raised funds (Announcement No.: 2024-024).

The company's IPO raised funds with a total committed investment of 1,680,830,000.00 yuan, and the actual net amount of funds raised was 1,395,794,418.15

Other use of raised funds, combined with the situation of each raised funds investment project, the company has adjusted the amount of funds to be invested in the fund-raising project. in order to

The upward adjustment was deliberated and approved by the 15th meeting of the 4th board of directors and the 8th meeting of the 4th board of supervisors of the company on July 9, 2021.

Note: If there is a difference in the mantissa between the sum of the partial totals and the direct addition of the additives in the above table, it is due to rounding.

Annex 2:

Change the status table of the investment projects of the raised funds

Unit: 10,000 yuan

Project after change As of the end of the period Actual cumulative investment progress in the current year (%) The project has reached the target Whether the project has reached the expected change in the current year

The changed project The original project corresponding to the proposed investment Cumulative investment Amount invested Amount (2) (3) = (2)/(1) Use status date Benefit Planned benefit Whether the feasibility is issued

Total Funds Amount (1) Significant changes

Changchun Baike Biology Changchun Baike Biology

Science and Technology Joint Stock Company Technology Joint Stock Company has an annual output

Annual production of 3 million servings 3 million servings Rabies 18,243.15 18,243.15 0.00 18,243.15 100.00 December 2026 N/A N/A No

Freeze-dried rabies vaccine for human use, 3 million copies

Disease vaccine (human dix Hib vaccine program

somatic cell) items

Total 18,243.15 18,243.15 0.00 18,243.15 100.00

The company held the 21st meeting of the 5th board of directors and the 15th meeting of the 5th board of supervisors on December 12, 2023, and held in December 2023

On the 29th, the first extraordinary general meeting of shareholders in 2023 was held, and the "Proposal on the Change of Use of Part of the Raised Funds Investment Projects" was deliberated and approved

The company has increased on the basis of the existing construction of the "Changchun Baike Biotechnology Co., Ltd. with an annual output of 3 million rabies vaccines and 3 million Hib vaccine projects".

The project content was changed to the purpose of the project, and the name was changed to "Changchun Baike Biotechnology Co., Ltd. has an annual output of 3 million lyophilized human rabies vaccines (twice as many as humans

Explanation of the reasons for the change, decision-making procedures and information disclosure (divided into specific fundraising and investment projects) somatic cell) projects".

The change in the purpose of the fundraising project is due to the company's comprehensive consideration of the future development strategy, the matching degree of the project with supporting facilities and equipment, market demand and other aspects

The prudent consideration of maximizing benefits is conducive to further enhancing the market competitiveness of vaccine products, which is in line with the company's actual development and strategic planning.

For details of the specific content and reasons for the change, please refer to www.sse.com.cn the "Long

Announcement of Chunbaike Biotechnology Co., Ltd. on the Change of Use of Part of the Raised Funds Investment Projects (Announcement No.: 2023-044).

In order to further improve the efficiency of the use of raised funds, combined with the company's strategic development needs, the company intends to change the use of the original project. At the same time, according to the new item

Circumstances and reasons for not reaching the planned schedule (by specific fundraising and investment projects) The actual construction progress of the purpose is expected to reach the usable state and the time is adjusted to December 2026. Details and reasons for the change are detailed in the Company's December 2023 announcement

On the 14th, the Shanghai Stock Exchange website (www.sse.com.cn) disclosed the "Changchun Baike Biotechnology Co., Ltd. on part of the raised funds investment

Announcement on the change of use of the project (Announcement No. 2023-044).

Explanation of significant changes in the feasibility of the changed project None