Baiyunshan (00874.HK): Guangzhou Pharmaceutical intends to carry out securitization of accounts receivable assets.

The app of Securities Times, Baiyunshan (00874.HK) disclosed that on December 1, 2025, the Board of Directors approved a proposal regarding the securitization of accounts receivable by Guangzhou Pharmaceuticals. In accordance with this, Guangzhou Pharmaceuticals, as the seller and original equity holder, intends to sign a basic asset purchase agreement with the asset management plan manager, selling basic assets to the asset management plan manager. The asset management plan manager, as the buyer, agrees to purchase the basic assets according to the terms of the basic asset purchase agreement and establish a special plan to issue asset-backed securities not exceeding RMB 3 billion in total, also serving as the manager of the special plan. The asset management plan manager will issue the special plan in installments within 2 years from the date of approval by the Shanghai Stock Exchange, and the term of each period of the special plan shall not exceed 2 years. As of the date of this announcement, Guangzhou Pharmaceuticals has not yet signed any legally binding agreements regarding the proposed transaction.