Jiangzhong Pharmaceutical (600750.SH): Signed the equity restructuring agreement of Hais Pharmaceutical

On September 21, Gelonghui announced that the eighteenth meeting of the eighth board of directors of 600750.SH the company deliberated and passed the "Proposal on Acquiring 51% of the Equity of Hais Pharmaceutical by Equity Transfer and Capital Increase", and the Company decided to acquire 36% of the equity of Jincheng Haisi Pharmaceutical Co., Ltd. (hereinafter referred to as "Hais Pharmaceutical") through public delisting; if the delisting is successful, the follow-up plan will increase the proportion of equity held by Hais Pharmaceutical from 36% to 51% through capital increase.

On September 17, 2021, the listing of the "36% Equity Transaction of Jincheng Haisi Pharmaceutical Co., Ltd." was closed, and only one intended transferee of Jiangzhong Pharmaceutical Co., Ltd. registered, and the company will go through the property rights transfer procedures according to the transfer price of 119,023,704 yuan and increase the capital after the equity transfer is completed. On September 18, 2021, the Company signed the Equity Restructuring Agreement on Haiser Pharmaceutical with Jinneng Holding Equipment Manufacturing Group Co., Ltd., Jincheng Wangtaike Industry and Trade Co., Ltd., Institute for Infectious Disease Prevention and Control of the Chinese Center for Disease Control and Prevention, and Hais Pharmaceutical.

According to the agreement, the parties unanimously agreed that Party A Jiangzhong Pharmaceutical would first receive the equity transfer through the public listing of the property rights exchange, as follows: Party B Jinneng Holding Equipment Manufacturing Group will hold 25.7102% of the equity of the target company Jincheng Haisi Pharmaceutical, Party C Jincheng Wangtaike Industry and Trade will hold 10.2898% of the equity of the target company, and the total equity of the two parties will be 36%, based on the equity appraisal value of 330.6214 million yuan, to determine the equity transfer price, Joint external transfer through public listing on the property rights exchange; Party A intends to transfer 36% of the equity of the above target company. (On September 17, 2021, the listing of the "36% Equity Transaction of Jincheng Haisi Pharmaceutical Co., Ltd." was closed, and only one intended transferee of Jiangzhong Pharmaceutical Co., Ltd. registered, and the company will handle the property rights transfer procedures according to the transfer price of 119,023,704 yuan)

This article originated from Grand Gateway