Buchang Pharmaceuticals adjusts subsidiary stakes, expands medical tech ventures

Shandong Buchang Pharmaceuticals Co., Ltd. has approved a proposal to waive its preferential right to acquire additional equity in its controlled subsidiary, Shanghai Hapux Healthcare Technology Co., Ltd. This decision allows existing shareholder Wang Baocai to transfer his un-contributed 0.05% and 0.025% stakes in Shanghai Hapux to Zhao Xiaogang and Cheng Cuo, respectively, at a zero-yuan transaction price. Buchang Pharmaceuticals will maintain its 71.30% ownership in Shanghai Hapux, with no change to its controlling stake. The board noted this as a related party transaction due to the involvement of key personnel.

Concurrently, Shanghai Hapux is expanding its operations by investing 4.9 million yuan to establish two new medical technology companies: Shandong Hapux Ruicheng Medical Technology Co., Ltd. and Hubei Hapux Medical Technology Co., Ltd. Shanghai Hapux will hold a 70% stake in both new entities, contributing 2.8 million yuan to Shandong Hapux Ruicheng and 2.1 million yuan to Hubei Hapux. These investments are aimed at promoting Shanghai Hapux's business development, aligning with Buchang Pharmaceuticals' overall strategic growth plan. The company's subsidiary, Shandong Buchang Youpin Medical Technology Co., Ltd., also announced a change in its registered address.