Huadong Pharmaceutical Co., Ltd. Announcement on the progress of joint investment and establishment of a joint venture with Angel Group

The Company and all members of the Board of Directors warrant that the information disclosed is true, accurate and complete and that there are no misrepresentations, misleading statements or material omissions.

On November 11, 2021, Hangzhou Zhongzhong Huadong Pharmaceutical Co., Ltd. (hereinafter referred to as "Sino-US Huadong"), a wholly-owned subsidiary of Huadong Pharmaceutical Co., Ltd. (hereinafter referred to as the "Company"), and Zhejiang Hunda Biotechnology Co., Ltd. (hereinafter referred to as "Hunda Biotechnology"), a holding subsidiary of Huadong Huadong, signed a Joint Venture Agreement with Hubei Angel Biological Group Co., Ltd. (hereinafter referred to as "Angel Group") to jointly invest in the establishment of Hubei Meiqi Health Technology Co., Ltd. (hereinafter referred to as "Meiqi Health" or "Joint Venture Company").

The registered capital of Majestic Health is 250 million yuan, of which Sino-US East China contributes 100 million yuan in cash, accounting for 40%; Angel Group contributes 100 million yuan in cash, accounting for 40%; Anda Biotech contributes 0.5 billion yuan in the form of technology, accounting for 20% of the capital contribution. For details, please refer to the "Announcement on The Joint Investment and Establishment of a Joint Venture Company with Angel Group" (Announcement No. 2021-079) issued by the Company on November 12, 2021.

As of the date of this announcement, the registration procedures of Maggie Health Have been completed and the "Business License" issued by the Yichang Municipal Market Supervision and Administration Bureau has been obtained. The progress of the above matters is hereby announced as follows:

1. Industrial and commercial registration

1. Unified social credit code: 91420500MA4F59704Y

2. Enterprise name: Hubei Meiqi Health Technology Co., Ltd

3. Type: Other limited liability company

4. Legal representative: Xie Ting

5. Registered capital: 250 million yuan

6. Establishment time: December 1, 2021

7. Business period: long-term

8. Registered address: No. 189, Xiaoting Avenue, Yichang City, Hubei Province

9. Business scope: licensed items: food production; health food production; infant formula food production; special medical purpose formula food production; food additive production; feed additive production; food sales; food Internet sales; food import and export; drug import and export; import and export of goods; technology import and export (according to the law must be approved by the project, after the approval of the relevant departments can carry out business activities, the specific business projects subject to the approval documents or licenses of the relevant departments) General projects: fermentation process optimization technology research and development Industrial enzyme preparation research and development; engineering and technical research and experimental development; technical services, technology development, technical consulting, technical exchanges, technology transfer, technology promotion; food sales (only sell prepackaged food); health food (pre-packaged) sales; infant formula milk powder and other infant formula food sales; special medical purpose formula food sales; food additive sales; feed raw materials sales; feed additive sales; special chemical product manufacturing (excluding dangerous chemicals) Sales of special chemical products (excluding hazardous chemicals); manufacture of daily chemical products; sales of daily chemical products (except for licensing business, you can independently operate items that are not prohibited or restricted by laws and regulations)

2. Documents for reference

Hubei Meiqi Health Technology Co., Ltd. business license.

This is hereby announced.

Board of Directors of Huadong Pharmaceutical Co., Ltd

December 3, 2021