Zhejiang Medicine plans spin-off IPO, grants restricted shares to employees

Zhejiang Medicine's board of directors approved a plan to spin off its controlling subsidiary, Zhejiang Xinma Bio-Pharmaceutical Co., Ltd., for a separate listing on the Hong Kong Stock Exchange. This strategic move aims to optimize resource allocation, broaden financing channels, and boost the parent company's overall profitability and core competitiveness. The spin-off is currently in its preliminary planning stages, with specific details and approvals yet to be finalized.

Concurrently, the board approved the grant of restricted shares under its 2025 incentive plan. Effective November 26, 2025, 875 eligible employees will receive a total of 10,284,000 restricted shares at an issue price of 7.30 yuan per share. This allocation represents 1.0694% of the company's total share capital.

The incentive plan includes eleven directors and senior management members receiving a combined 1.59m shares, representing 15.46% of the total restricted shares granted. The remaining 84.54% of the shares will be distributed among core employees. This grant underscores the company’s commitment to aligning employee interests with its long-term growth objectives.