Jointown Pharmaceutical issues first 2025 asset-backed notes, controlling shareholder subscribes

Jointown Pharmaceutical Group Co., Ltd. has completed the issuance of its first tranche of 2025 asset-backed notes, totaling 1 bn yuan. The Class A notes, amounting to 950m yuan, represent 95% of the total, while the Class B notes, totaling 50m yuan, account for the remaining 5%. CITIC Securities, as the sponsor, reviewed and confirmed the compliance of this issuance and the related-party transaction.

The controlling shareholder, Chuchang Investment Group Co., Ltd., subscribed to 50m yuan of the Class B notes, making this a related-party transaction. This transaction does not constitute a major asset restructuring and was approved by the company's board of directors and shareholders' meeting, with independent directors expressing their consent. The issuance, registered with the National Association of Financial Market Institutional Investors, aims to revitalize assets, enhance capital efficiency, and diversify financing channels.

As of the verification opinion date, Jointown Pharmaceutical Group has three outstanding asset-backed notes products, including the current issuance, totaling 30 bn yuan. The controlling shareholder, Chuchang Investment, and its concerted parties have collectively subscribed to 156m yuan in these asset-backed products. The transaction aligns with fair and reasonable principles, maintaining the company's independence and safeguarding the interests of all shareholders.