Conba Pharmaceutical wins drug bid, proposes governance changes

Zhejiang Conba Pharmaceutical announced on October 29, 2025, a preliminary successful bid for its Adenosylcobalamin Capsules in the eleventh round of national centralized drug procurement. The product is expected to be supplied to Sichuan, Hubei, and Ningxia, with a proposed procurement volume of 2.62 million capsules over a three-year period at a price of 3.81 yuan per box. This follows the product's registration certificate approval on March 24, 2025.

Concurrently, the company proposes significant revisions to its Articles of Association, to be approved at an extraordinary general meeting on November 13, 2025. These changes include a reduction in registered capital from 2,570,037,319 yuan to 2,506,458,271 yuan due to the cancellation of 63,579,048 repurchased shares. Additionally, the company plans to abolish its Board of Supervisors, transferring its functions to the Audit Committee of the Board of Directors, aligning with updated legal and regulatory requirements.

The proposed amendments encompass various operational aspects, including adjustments to shareholder meeting rules, corporate governance, and information disclosure practices. These changes aim to enhance the company's governance structure and adapt to evolving regulatory landscapes.