Lukang Pharmaceutical gains approval for A-share stock issuance

Shandong Lukang Pharmaceutical (SSE:600789) announced that the Shanghai Stock Exchange (SSE) has accepted its application for issuing A-shares to specific targets, according to an announcement dated April 19, 2025. The acceptance, detailed in document number 2025-018, signals progress for Lukang's plans to enhance its operations. The company intends to allocate raised capital towards key projects, aiming to address production bottlenecks and market demand, all while adhering to stringent financial regulations. The projects include "High-end Preparation Intelligent Manufacturing Workshop Construction Project" and "Biopesticide Base Construction Project," along with an increase in R&D for new medicines and supplementing working capital. The total investment for the projects is estimated at CNY 128,424,000,000, with a proposed capital expenditure from raised capital of CNY 120,000,000,000. While the SSE has accepted the application, the issuance remains subject to further review and approval from the China Securities Regulatory Commission (CSRC). The Board of Directors urges investors to heed investment risks.