Sinopharm to return funds used for working capital

China National Medicines Corp (SSE: 600511) announced that it will prematurely return 850 million yuan of raised funds that were temporarily used to supplement working capital. This decision follows the resolution passed at the company's eighth board meeting on March 19, 2024, allowing the temporary use of idle raised funds for working capital purposes, provided it didn't affect funding for project construction. The funds, not exceeding 854 million yuan, were to be returned to designated accounts before maturity using proprietary funds. The initial decision was detailed in an announcement [2024-010] published on the Shanghai Stock Exchange website (www.sse.com.cn) and major financial newspapers on March 21, 2024. The early return of the 850 million yuan took place on March 5, 2025, and has been communicated to China International Capital Corporation Limited, the company's sponsor.