China Biotech Services (08037) plans to issue convertible bonds with a total principal amount of 35 million US dollars to Fu Ce Holdings

According to Zhitong Finance App, China Biotech Service (08037) announced that on December 29, 2025, the company signed a subscription agreement with the subscriber Fu Ce Holdings. The company has agreed to issue conditions, and the subscriber has already agreed to subscribe for convertible bonds with a total principal amount of 35 million US dollars (equivalent to about HK$272.3 million).

Based on the preliminary exchange price of HK$0.66 per share (subject to adjustment), when the number of exchange rights attached to the convertible bonds is fully exercised, a maximum of 412.6 million shares will be allocated and issued, which is equivalent to approximately 42.28% of the total number of shares issued on the date of this announcement; and the total number of issued shares expanded as a result of the conversion of the convertible bonds obtained during the conversion of the number of convertible bonds obtained, approximately 29.72% (assuming that the convertible bonds have been converted to the number of shares obtained in the preliminary exchange price) change).

The subscribers are mainly engaged in investment business. The direct or indirect investment industries include life science and medicine, education, Internet and technology media and telecommunications, etc., with assets under management of more than 100 million US dollars.

The Board believes that it is beneficial to strengthen the Group's capital base through subscription matters to prepare for the Group's long-term development and further enhancement of the Group's financial position. Issuing convertible bonds will not have an immediate dilution effect on existing shareholders' equity. The directors also believe that if the share exchange rights attached to the convertible bonds are exercised, the issuance of convertible bonds will provide the Company with an opportunity to expand and strengthen its capital base and expand its shareholder base by introducing new investors.