Huahai Pharmaceutical updates on convertible bond conversion, drug application

Zhejiang Huahai Pharmaceutical (SSE:600521) announced that as of September 30, 2025, a cumulative 194,000 yuan of its "Huahai Convertible Bonds" had been converted into 5,665 shares. This represents 0.00039% of the company's total shares before conversion. The outstanding convertible bonds amount to 1,842,405,000 yuan. In the third quarter of 2025 (July 1 to September 30), 12,000 yuan of bonds were converted into 361 shares.

The company also announced that its subsidiary, Shanghai Huaao Biotechnology, received acceptance from the National Medical Products Administration for its new drug application for HB0034 (recisiqibay biosimilar injection). This drug is intended for treating generalized pustular psoriasis (GPP) flares. Clinical trials for HB0034 met primary and secondary efficacy endpoints, and the drug had previously received Orphan Drug designation from the US FDA.

Zhejiang Huahai Pharmaceutical has invested approximately 226.83 million yuan in the HB0034 injection project. The current convertible bond conversion price is 33.06 yuan per share, effective from July 10, 2025.