Huahai Pharma's innovative drug transfer fails to close

Zhejiang Huahai Pharmaceutical Co., Ltd. [SSE:600521] announced that the public listing and transfer of its innovative drug, Hydroxypiperidone Hydrochloride Tablets (HHT101 Project), has concluded without a successful bidder. The transfer, conducted via the China Technology Exchange, involved patents and technological achievements co-developed with the Academy of Military Medical Sciences of the Chinese People's Liberation Army. According to the company, potential acquirers required additional time for deliberation, leading to the unsuccessful outcome. Huahai Pharma intends to reassess the situation and proceed accordingly, while assuring investors that this event will not significantly impact its operations or governance. The company will continue to adhere to disclosure obligations and urges investors to exercise caution.