Shanghai Pharma announces internal equity transfer among key shareholders

On September 22, 2025, Shanghai Pharmaceuticals Holding Co. announced a voluntary change in shareholders' interest involving Shanghai Shangshi (Group) Co., Ltd. and Shanghai International Investment Limited (SIIL). Shanghai Shangshi agreed to transfer its 100% equity interest in Shanghai Tandong Enterprise Consulting Services Co., Ltd. to SIIL for RMB1,484.7498 million. This transaction will see SIIL, a wholly-owned subsidiary of Shanghai Industrial Investment (Holdings) Company Limited (SIIC), gain control of Shanghai Tandong.

Prior to the transfer, SIIC indirectly held 500,000 A shares and 300,618,000 H shares through Shanghai Shangshi Investment Management Consulting Co., Ltd. and SIIL, respectively. Shanghai Shangshi directly held 221,801,798 A shares and indirectly controlled 187,000,000 A shares through Shanghai Tandong. Post-transfer, SIIC will collectively hold and control a total of 1,426,435,837 shares, representing 38.465% of the company's total share capital, indicating no change in SIIC's overall control percentage despite the internal restructuring.

The company confirmed that this change in shareholder interest does not trigger a mandatory tender offer and will not result in any change to its controlling shareholder or de facto controller. Full details are available on the Shanghai Stock Exchange and HKEXnews websites.