Walvax Biotechnology closes accounts after innovation center project completion

Walvax Biotechnology has initiated the cancellation of several dedicated raised funds accounts following the completion and full payment for its "Walvax Biotechnology Innovation Center Project." The project, which utilized 307.0 million yuan from a non-public issuance of shares, achieved a cumulative investment progress of 100.68% (including interest income from raised funds). The project was completed and put into use in 2022, with its property rights certificate obtained on December 28, 2022.

The raised funds for the project totaled 597,999,998.44 yuan from a non-public offering in 2016. After deducting underwriting and other issuance-related fees, the net raised funds amounted to 580,566,561.46 yuan. The company has notified its independent financial advisor about the cancellation of these accounts, which also terminates the corresponding "Raised Funds Custody Agreements."

The specific accounts being closed include those opened at China Merchants Bank, Kunming Guangfu Road Branch, and Yunnan Hongta Bank, Business Department. Accounts for other projects like "Share Issuance and Asset Purchase Matching Raised Funds" and "Shanghai Zerun R&D Expenses" remain active, with expected cancellation dates extending to November 19, 2025.