Ringpu Bio-Technology redirects funds for bio-manufacturing expansion, alternative proteins

Tianjin Ringpu Bio-Technology announced on September 28, 2025, a change in the use of a portion of its raised funds. The company plans to redirect funds totaling 295,743,600 yuan, including 160,000,000 yuan originally for the "South China Bio-Suspension Culture Workshop Construction Project" and 115,000,000 yuan in unallocated surplus from the "Zhong’an Bio-Expansion Project" (plus accrued interest and investment income of 20,823,100 yuan), towards the new "Bio-Manufacturing Industrialization Engineering Construction Project." This decision awaits shareholder approval.

The original "South China Bio-Suspension Culture Workshop Construction Project" has not commenced construction, leading to prolonged idle funds. Meanwhile, the "Zhong’an Bio-Expansion Project" has been completed, resulting in surplus capital. The new "Bio-Manufacturing Industrialization Engineering Construction Project" has a total estimated investment of 679,391,500 yuan, with 295,743,600 yuan to be covered by the reallocated raised funds and the remainder from the company's own capital.

The company believes this reallocation will enhance the efficiency of fund utilization, align with its bio-manufacturing growth strategy, and address broad market demand for alternative proteins. The new project, aiming to establish a large-scale microbial protein industrialization demonstration facility, is projected to generate annual operating revenue of 1,302,400,000 yuan upon full operation, with an internal rate of return of 25.08% (after tax).