Yichang HEC ChangJiang privatization update: NDRC approval received

Yichang HEC ChangJiang Pharmaceutical (HKEX: 1558) and Sunshine Lake Pharma Co., Ltd. jointly announced a monthly update on the proposed pre-conditional privatization of Yichang HEC ChangJiang via merger by absorption. The announcement highlights that NDRC approval has been obtained for the merger, fulfilling one of the key pre-conditions. Sunshine Lake Pharma continues to liaise with other governmental authorities, including the Ministry of Commerce (MoC) and the State Administration of Foreign Exchange (SAFE), for their respective approvals. The offeror is also progressing with the Listing process and its preparation in relation to its Listing application. As of April 10, 2025, shareholder approval has been fulfilled and Pre-Conditions (1) and (2) remain unfulfilled. The companies cautioned that the privatization is conditional and subject to regulatory approvals and the satisfaction or waiver of conditions and pre-conditions.