Jiuzhou pharmaceutical announces change in actual controllers

Zhejiang Jiuzhou Pharmaceutical Co., Ltd. announced an internal equity adjustment within its controlling shareholder, Zhejiang Zhongbei Jiuzhou Group Co., Ltd. (Zhongbei Group), and its concerted party, Taizhou Geode Industrial Co., Ltd. (Taizhou Geode). This adjustment involves the transfer of equity among family members, leading to a reduction in actual controllers from three to two.

The adjustment stems from Mr. Hua Xiantian, the former actual controller, stepping down due to age. He transferred his 42.50% equity in Zhongbei Group and 10.00% equity in Taizhou Geode to his daughters, Hua Lirong and Hua Xiaohui. Hua Lirong received 28.50% of Zhongbei Group's equity and 5.00% of Taizhou Geode's equity, while Hua Xiaohui received 14.00% of Zhongbei Group's equity and 5.00% of Taizhou Geode's equity.

Following the transfer, Mr. Hua Xiantian no longer holds any direct or indirect equity in Jiuzhou Pharmaceutical. The actual controllers are now Ms. Hua Lirong and Ms. Hua Xiaohui. This change will not affect the company's independence, operations, or the direct and indirect shareholding percentages of the controlling shareholder and concerted parties. Zhongbei Group remains the controlling shareholder.