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Pharmaron Beijing Co., Ltd.*
康龍化成(北京)新藥技術股份有限公司
(a joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 3759)
SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO THE ANNUAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2019
Reference is made to the annual report for the year ended December 31, 2019 (the "Annual Report") of Pharmaron Beijing Co., Ltd.* (康龍化成(北京)新藥技術股份有限公司) (the "Company") published on April 23, 2020. Unless otherwise stated, the terms used in this announcement shall have the same meanings as defined in the Annual Report.
USE OF PROCEEDS FROM THE GLOBAL OFFERING
As disclosed in the Annual Report, the Company raised net proceeds of approximately RMB4,522.7 million from the Global Offering of its H Shares and such net proceeds have not been utilized as at December 31, 2019. In addition to the information disclosed under the section headed "USE OF PROCEEDS FROM THE GLOBAL OFFERING" in the Annual Report, the Company would like to provide further information regarding the expected timeline for utilizing the net proceeds from the Global Offering, details of which are set out as follows:
Allocation of | ||||
net proceeds | Utilized | Utilized | Expected timeline | |
as disclosed | amount | amount as | for utilizing the | |
in the Annual | as at | of the date of | net proceeds from | |
Report | December 31, | the Annual | the Global | |
Use of proceeds | (RMB million) | 2019 | Report | Offering (Note) |
Expand capacities and | 1,356.8 | - | - Expected to be fully | |
capabilities in laboratory | utilized by December | |||
and manufacturing | 31, 2021 | |||
facilities in the PRC | ||||
- investing in upgrading | 881.9 | - | - Expected to be fully | |
and expanding our Ningbo | utilized by December | |||
facility | 31, 2021 | |||
- investing in upgrading | 203.5 | - | - Expected to be fully | |
and expanding our Tianjin | utilized by December | |||
facility | 31, 2021 | |||
- investing in upgrading | 271.4 | - | - Expected to be fully | |
and expanding other | utilized by December | |||
manufacturing facilities | 31, 2021 |
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Allocation of | ||||
net proceeds | Utilized | Utilized | Expected timeline | |
as disclosed | amount | amount as | for utilizing the | |
in the Annual | as at | of the date of | net proceeds from | |
Report | December 31, | the Annual | the Global | |
Use of proceeds | (RMB million) | 2019 | Report | Offering (Note) |
Fund further expansion of | 452.3 | - | - Expected to be fully | |
businesses in the U.S. and | utilized by December | |||
U.K. | 31, 2021 | |||
Establish pharmaceutical | 904.5 | - | - Expected to be fully | |
R&D services platform for | utilized by December | |||
discovery and development | 31, 2022 | |||
of biologics | ||||
Expand clinical development | 678.4 | - | - Expected to be fully | |
services | utilized by December | |||
31, 2022 | ||||
Expand our capacity and | 678.4 | - | - Expected to be fully | |
capabilities through | utilized by December | |||
potential acquisitions of | 31, 2022 | |||
CRO and CMO companies | ||||
and businesses | ||||
General corporate and | 452.3 | - | - Expected to be fully | |
working capital | utilized by December | |||
31, 2020 | ||||
Total | 4,522.7 | - | - |
Note: The Company intends to use the remaining unused net proceeds in the coming years in accordance with the purpose set out in the Prospectus. The Company will continue to evaluate the Group's business objectives and will change or modify the plans against the changing market conditions to suit the business growth of the Group. We will issue an appropriate announcement if there is any material change to the above proposed use of proceeds.
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The supplementary information provided in this announcement does not affect other information contained in the Annual Report, and save for the additional information disclosed above, the contents of the Annual Report remain unchanged.
By order of the Board
Pharmaron Beijing Co., Ltd.*
康龍化成(北京)新藥技術股份有限公司
Chairman
Dr. Lou Boliang
Beijing, the PRC
August 11, 2020
As at the date of this announcement, the Board of Directors comprises Dr. Lou Boliang, Mr. Lou Xiaoqiang and Ms. Zheng Bei as executive Directors; Mr. Chen Pingjin, Mr. Hu Baifeng, Mr. Li Jiaqing and Mr. Zhou Hongbin as non-executive Directors; Mr. Dai Lixin, Ms. Chen Guoqin, Mr. Tsang Kwan Hung Benson and Mr. Yu Jian as independent non-executive Directors.
- For identification purposes only
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Pharmaron Beijing Co. Ltd. published this content on 11 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2020 08:43:14 UTC