WuXi AppTec voting control adjusts as shareholder agreement ends

WuXi AppTec announced the termination of a "Concerted Action Agreement" between its controlling persons (Ge Li, Zhang Zhaohui, and Liu Xiaozhong) and three shareholders: Eastern Star Asia Investment, Fertile Harvest Investment, and L&C Investment. This agreement, initially signed in March 2016 and supplemented in March 2017, expired on October 9, 2025. This dissolution means shares held by these three entities will no longer be aggregated with those controlled by the company’s actual controlling persons, reducing the total voting rights controlled by the controlling persons and their related entities from 20.01% to 18.46%.

The change in total voting power reflects not only the termination of the concerted action but also several capital adjustments between August 2023 and September 2025. These adjustments include share repurchases, cancellations of both A and H shares, exercise of stock options, issuance of new H shares, conversion of convertible bonds, and share transactions by some controlling shareholders. The shares previously covered by the concerted action, amounting to 45,919,242 shares or 1.55% of the total share capital, are now independently managed.

The former concerted parties have committed not to reduce their shareholdings for six months following the announcement and to dispose of their shares only via concentrated bidding, with limitations on volume and frequency of sales. This change does not affect the actual controlling persons' control over the company or its governance structure.