Shanghai Pharmaceuticals: Intends to list and transfer 41% of the equity of Shanghai Pharma Benefiting Pharmaceutical Co., Ltd.

Shanghai Pharmaceutical Group announced that its subsidiary, Shanghai Pharma Holdings, plans to transfer 41% equity stake in its subsidiary Shanghai Yiyao Pharmaceutical Co., Ltd. through a public listing on the property exchange. The listing transfer price is set at 330 million RMB. After the transaction is completed, Shanghai Pharmaceutical will hold a 10% equity stake in the target company and will no longer consolidate it into its financial statements.