Pientzehuang completes transfer of state-owned shares

Zhangzhou Pientzehuang Pharmaceutical has completed the registration for the transfer of state-owned shares, according to a new announcement. The transfer involved 2,000,000 shares, representing 0.33% of the company's total share capital, from Zhangzhou Jiulongjiang Group to Fujian Zhanglong Group free of charge. Jiulongjiang Group will continue to hold 307,522,643 shares, or 50.97% of the company. Following the transfer, Zhanglong Group will directly hold 7,056,700 shares, accounting for 1.17% of the company's total share capital. Zhanglong Group has committed not to proactively reduce its holdings of the transferred shares within 36 months of the transfer's completion. This transaction does not affect the controlling shareholder and ultimate controlling person of Pientzehuang.