Shanghai Haohai Biological Technology Co., Ltd. (HAOHAI BIOTEC) released its 2025 board report and AGM circular, highlighting weaker earnings yet maintaining cash returns to shareholders.

Financial performance • Revenue fell 8.33% year-on-year to RMB2.47 billion. • Gross margin remained broadly stable at 70.12% (2024: 69.89%). • Net profit attributable to shareholders declined 40.30% to RMB251.01 million; profit after extraordinary items dropped 57.67% to RMB160.48 million. • Total assets stood at RMB6.72 billion and shareholders’ equity at RMB5.42 billion, down 5.64% and 2.75% respectively from end-2024.

Dividend proposal The board recommends a final dividend of RMB0.60 (tax inclusive) per share, equivalent to a payout of about RMB135.61 million. Share capital used for calculation excludes 3.85 million treasury A-shares and 121,800 repurchased but uncancelled H-shares. Books for H-shareholders will close 8–11 June 2026, with dividends payable to holders registered on 11 June 2026. Mainland investors through Stock Connect will be subject to a 20% withholding tax; overseas investors 10%, unless treaty rates apply.

Authorisations sought • Interim dividends 2026: board to distribute up to 50% of current-period net profit, subject to liquidity tests. • Share repurchase: general mandate to buy back up to 10% of issued H-shares during the mandate period. • Auditors 2026: re-appointment of Ernst & Young Hua Ming LLP (domestic) and Ernst & Young (international) for financials and internal controls.

Board changes and remuneration • Election of Ms Tian Min as executive director and three new independent non-executive directors (Mr Chan Sui Yu, Mr Song Yuanyang, Ms Xu Duoqi). • Non-executive directors to receive an annual allowance of RMB150,000; executive and employee directors remunerated under senior-management pay schemes.

Key meeting details The AGM will be held on 29 May 2026 at the company’s Shanghai headquarters. The H-share register closes 26–29 May 2026; proxy forms must reach Computershare Hong Kong by 2:00 p.m. on 28 May 2026.

If approved, the dividend and repurchase mandates will support shareholder returns despite the profit contraction recorded in 2025.