KPC Pharmaceuticals to hold EGM on audits, wealth management

KPC Pharmaceuticals Inc. (SSE:600422) announced its Fourth Extraordinary General Meeting of Shareholders for 2025, scheduled for October 10, 2025, at 13:00 at its management center in Kunming. Shareholders of record by September 26, 2025, are eligible to attend and vote on key proposals, including the appointment of the company's 2025 audit firm and the use of idle funds for wealth management. The meeting will support both in-person and online voting via the Shanghai Stock Exchange's network voting system.

The board of directors and the supervisory board both approved a proposal to utilize up to RMB 25 billion of idle funds for investing in low-to-medium risk wealth management products offered by banks and their wealth management subsidiaries. This initiative, aimed at enhancing capital efficiency and returns, was approved by the board on September 17, 2025, and by the supervisory board on the same day. These investments will be for a term not exceeding six months, with the authorization lasting one year from shareholder approval.

Additionally, the supervisory board approved the write-off of certain accounts receivable, aligning with accounting policies to accurately reflect the company's asset status. Both the wealth management and accounts receivable write-off proposals await final approval at the upcoming shareholder meeting.