Haoyuan Pharmaceutical announced that in order to improve the efficiency of the use of funds raised, the company decided to suspend the construction of the CDMO industrialization project for high-end pharmaceutical intermediates and APIs, and reduce the proposed capital raised from 373 million yuan to 173 million yuan. The reduced 200 million yuan will be loaned to Chongqing Haoyuan for the “Haoyuan Pharmaceutical Antibody Conjugate Drug CDMO Base Project - Antibody Formulation Expansion Project”. The matter has been reviewed by the board of directors and still needs to be submitted to the shareholders' meeting and convertible bondholders' meeting for consideration.

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