Fudan-Zhangjiang reallocates IPO proceeds, amends articles

Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. plans to reallocate RMB181.5461 million of unutilized A share initial public offering proceeds. The funds will now go towards an innovative research and sustainable development project in photodynamic drugs. This decision follows delays in the original Hemoporfin registration project in the United States, which will continue as a sub-project under the new initiative, with an adjusted utilization timeline until December 31, 2027.

Shareholders will vote on these changes at an extraordinary general meeting (EGM) on November 26, 2025. Additionally, the EGM will consider amendments to the articles of association, including the dissolution of the supervisory committee, and updates to the rules of procedure for both general meetings and the board of directors. The proposed amendments also involve the removal of the arbitration provision for H shareholders.

The company's directors recommend shareholders vote in favor of all proposed resolutions.