Fosun Pharma moves to spin off Adgenvax, reports mixed Q3, revises cap

Shanghai Fosun Pharmaceutical (Group) Co. announced on October 28, 2025, the proposed spin-off listing of its subsidiary, Fosun Adgenvax (Chengdu) Biopharmaceutical Co., Ltd., on The Stock Exchange of Hong Kong Limited. Fosun Adgenvax, established in July 2012, focuses on the research, development, production, and sale of human vaccines. The listing is currently in its preliminary planning stage.

Concurrently, the company released its unaudited 2025 Third Quarterly Report, showing total operating revenue of 29.39 bn yuan for the first nine months of 2025, a decrease of 4.91% year-on-year. Net profit attributable to shareholders increased by 25.50% to 2.52 bn yuan. Additionally, the company completed a 348.35m yuan A-share repurchase and a HK$47.83m H-share repurchase, and issued 1 bn yuan in scientific and technological innovation bonds.

Separately, Fosun Pharma also revised the annual cap for continuing connected transactions. The annual cap for services provided by Fosun International and/or its associates to the Group in 2025 was adjusted from 70m yuan to 90m yuan, to accommodate increased business development needs in the last quarter of 2025. This revision pertains to the mutual supply of products and services between the Group and Fosun International.