Stock code: 688506 Stock abbreviation: Baili Tianheng Announcement No.: 2023-031

Sichuan Baili Tianheng Pharmaceutical Co., Ltd.

Announcement on the signing of a four-party regulatory agreement on the storage of raised funds in a special account.

the company's board of directors and all directors to ensure that the contents of this announcement does not exist any false records, misleading statements or major omissions, and the authenticity, accuracy and completeness of the contents of the legal responsibility.

Basic situation of 1. raised funds

According to the China Securities Regulatory Commission (hereinafter referred to as the "China Securities Regulatory Commission") issued the "Approval of Sichuan Baili Tianheng Pharmaceutical Co., Ltd. Initial Public Offering of 40.1 million RMB ordinary shares, each with a par value of RMB 1.00 yuan, each with an issue price of RMB 24.70 yuan, and a total raised capital of RMB 990,470,000.00 yuan, after deducting the issuance fee of RMB 106,072,569.72 (excluding tax), the fund will be raised.

The net amount of funds is RMB 884,397,430.28. This fund-raising was completed on December 30, 2022.

Department in place, Lixin Certified Public Accountants (Special General Partnership) on the issue of the funds raised in place, and issued a "capital inspection report" (letter will report word [2022] No. ZA16266). The company has adopted a special account storage management for the raised funds, and signed the "Tripartite Supervision Agreement on Raised Funds" and the "Quadripartite Supervision Agreement on Raised Funds" with the sponsor institution and the bank supervising the special account of raised funds. For details, please refer to the company's

"Sichuan Bailitian" disclosed on the website of Shanghai Stock Exchange (www.sse.com.cn) on January 5, 2023

Heng Pharmaceutical Co., Ltd. initial public offering of shares of the board listing announcement.

Signing of Quartet Supervision Agreement for Special Account Storage of 2. Raised Funds

The company held the fifth meeting of the fourth board of directors and the fifth meeting of the fourth board of supervisors on March 22, 2023

At the second meeting, the "Proposal on the Change of Sub-projects of Some of the Company's Raised Investment Projects" was reviewed and approved, and it was agreed that the company would adjust some of the clinical trial sub-projects in the "Antibody Drug Clinical Research Project" of the initial public offering fund-raising investment project. The company's independent directors and the board of supervisors issued clear opinions on this matter and recommended

The agency issued a clear verification opinion. For details, please refer to the "IV" disclosed by the Company on March 23, 2023.

Announcement of Sichuan Baili Tianheng Pharmaceutical Co., Ltd. on the change of sub projects of some of the company's raised investment projects (Announcement No.: 2023-022), which has been deliberated and approved by the second extraordinary general meeting of shareholders in 2023.

In order to standardize the deposit, management and use of the company's raised funds, improve the efficiency of the use of funds, and effectively protect the rights and interests of investors, in accordance with the "Shanghai Stock Exchange Science and Technology Innovation Board Listed Companies Self-Regulatory Guidelines No. 1-Standardized Operation" and other relevant laws and regulations, The requirements of the normative documents and the company's "Raised Funds Management System, the company and its wholly-owned subsidiary Chengdu Bailidot Biopharmaceutical Co., Ltd. and the sponsor Anxin Securities Co., Ltd. recently signed the Quartet Supervision Agreement on raised funds (hereinafter referred to as" this Agreement ") with the banks that deposit the raised funds. There is no material difference between this Agreement and the Tripartite Supervision Agreement (Model) on the Deposit of Raised Funds in a Special Account of the Shanghai Stock Exchange.

The opening of the company's fund-raising account is as follows:

Account number of the account opening bank to raise funds

Chengdu Bailidot Biopharmaceutical Co., Ltd. China CITIC Bank Chengdu Caotang Sub-branch 8111001012400901789

Liability Company

Chengdu Bailidot Bio-Pharmaceutical Co., Ltd. Industrial Bank Chengdu Jinsha Sub-branch 431050100100379844

Liability Company 431050100100380090

Chengdu Bailidot Biopharmaceutical Co., Ltd. Chengdu Rural Commercial Bank Co., 1000040007549857

Sanwayao Branch of the responsible company

The main contents of the four-party supervision agreement are stored in the special account of 3. raised funds.

Party A

Party A 1: Sichuan Baili Tianheng Pharmaceutical Co., Ltd. (Issuer)

Party A 2: Chengdu Bailidot Biopharmaceutical Co., Ltd.

(Party A 1 and Party A 2 shall be referred to as "Party A")

Party B: Supervisory Bank of Raised Funds (hereinafter referred to as "Party B")

Party C: Anxin Securities Co., Ltd. (Sponsor) (hereinafter referred to as "Party C")

In order to regulate the management of the funds raised by Party A and protect the rights and interests of investors, in accordance with the relevant laws and regulations and the "Shanghai Stock Exchange Science and Technology Innovation Board Listed Companies Self-Regulatory Guidelines No. 1-Standardized Operation", A, B, and C have negotiated and reached The following agreement:

1. Party A has opened a special fund-raising account (hereinafter referred to as the "special account") in Party B, which is only used for Party A's innovative antibody drug research and development project in the field of tumor treatment (BL-B01D1(EGFR ×

HER3-ADC), BL-B01D1(EGFR × HER3-ADC)± SI-B003(PD-1 × CTLA4) bispecific antibody injection ± chemotherapy, BL-M07D1(HER2-ADC), BL-M02D1(TROP2-ADC));(SI-B001(EGFR × HER3) bispecific antibody injection, SI-B001(EGFR × HER3) bispecific antibody injection + SI-B003(PD-1 × CTLA4) bispecific antibody injection);GNC-035 tetrad-specific antibody injection, GNC-038 tetrad-specific antibody injection, GNC-039 tetrad-specific antibody injection

The storage and use of the funds raised for injection shall not be used for other purposes.

The raised funds deposited by Party A in the form of certificates of deposit/million yuan (if any), the account opening date is/year/month/day, the term/month. Party A undertakes that the above-mentioned certificates of deposit will be promptly transferred to the special fund-raising account agreed upon in this Agreement for management or renewal by means of certificates of deposit, and notify Party C. Party A's certificate of deposit shall not be pledged.

2. Party A and Party B shall jointly abide by the Law on the People's Republic of China Negotiable Instruments, the Measures for Payment and Settlement, the Measures for the Administration of RMB Bank Settlement Accounts and other laws, regulations and rules.

3. Party C, as the sponsor of Party A, shall appoint a sponsor representative or other staff to supervise the use of the funds raised by Party A in accordance with the relevant provisions.

Party C undertakes to perform its supervisory duties on the management of Party A's fund-raising in accordance with the "Shanghai Stock Exchange's Self-Regulatory Guidelines No. 1-Standardized Operation" and the fund-raising management system formulated by Party A.

Party C shall have the right to exercise its supervision by means of on-site investigation and written inquiry. Party A and Party B shall cooperate with Party C's investigation and inquiry. Party C shall check the storage of the special account during the on-site investigation of Party A.

4. Party A authorizes Party C's designated sponsor representatives Pu Songtao, Chai Kechen and other designated staff to inquire and copy Party A's special account information at any time; Party B shall provide it with the required information about the special account in a timely, accurate and complete manner.

The sponsor representative shall issue his legal identity certificate when inquiring about Party A's special account to Party B; other staff designated by Party C shall issue his legal identity certificate and a letter of introduction to Party B when inquiring about Party A's special account.

Party B is 5. to issue a special account statement to Party A on a monthly basis (before the 10th of each month) and send a copy to Party C. Party B shall ensure that the statement is true, accurate and complete.

6. Party A 2, the accumulated amount withdrawn from the special account within one time or 12 months exceeds 50 million yuan and reaches

Party B shall promptly notify Party C by fax or mail of 20% of the net amount of the total proceeds after deducting the issuance expenses (hereinafter referred to as the "net proceeds"), and shall provide a list of the expenses of the special account.

7. Party C has the right to replace the designated sponsor representative in accordance with the relevant provisions. If Party C changes the sponsor representative, it shall notify Party B in writing of the relevant supporting documents, and at the same time notify Party A and Party B in writing of the contact information of the replaced sponsor representative in accordance with the requirements of Article 13 of this Agreement. The replacement of the sponsor representative does not affect the validity of this Agreement.

8. Party B fails to issue a statement to Party A/Party C or notify Party C of large withdrawals from the special account three times in a timely manner.

In case of failure to cooperate with Party C to inquire and investigate the information of the special account, Party A shall have the right to terminate this Agreement and cancel the special account for raised funds on its own initiative or at Party C's request.

9. Party A and Party B shall actively assist Party A and Party B in providing additional relevant materials or making relevant explanations when Party C is inspected or investigated by the regulatory authority.

10. Party C discovers that Party A and Party B fail to perform this Agreement as agreed, it shall promptly report to the Shanghai Stock Exchange in writing after learning the relevant facts.

11. This Agreement shall take effect from the date when the legal representatives/persons in charge of Party A, Party B and Party C or their authorized representatives sign and affix the official seal of their respective units or special seal for contracts, and shall expire on the date when all funds in the special account have been spent and the account has been canceled in accordance with the law and the supervision period of Party C has ended.

12. This agreement is in duplicate, with Party A, Party B and Party C holding one copy each, and one copy shall be submitted to Shanghai Stock Exchange and Sichuan Securities Regulatory Bureau within 2 trading days after the signing of the agreement, and the rest shall be kept by Party A for standby.

It is hereby announced.

Board of Directors of Sichuan Baili Tianheng Pharmaceutical Co., Ltd.

April 12, 2023