Junshi Biosciences approves RMB2.4 bn cash management plan

Shanghai Junshi Biosciences Co., Ltd. has approved a cash management plan to utilize up to RMB2.4 billion in temporarily idle proceeds. This decision, made by the board of directors, aims to enhance the efficiency of capital use and generate additional returns without affecting ongoing investment projects or the normal course of business. The funds will be invested in principal-guaranteed products with high security and liquidity for a period of 12 months, with the ability to revolve the funds.

The source of these funds is part of the temporary idle proceeds from the company's 2022 A shares issuance to target subscribers, which yielded total proceeds of RMB3,776,500,000. As of June 30, 2025, investment progress for research and development projects of innovative drugs stood at 27.12%, while the Shanghai Junshi Biotech headquarters and R&D base project was 85.96% complete. Income generated from this cash management will prioritize replenishing any shortfalls in investment projects and supporting daily operations.

Guotai Haitong Securities Co., Ltd., the company's sponsor institution, confirmed that the proposal complies with relevant regulations and will not alter the intended use of proceeds or impact the normal progress of investment projects. The board delegates authority to the chairman for investment decisions, with the finance department overseeing implementation and the internal audit department reviewing operations and reporting on potential gains and losses quarterly.