Jointown Pharmaceutical's major shareholder redeems exchangeable bonds

On December 22, 2025, Jointown Pharmaceutical Group announced that its controlling shareholder, Chuchang Investment Group Co., Ltd., completed the redemption and delisting of its "Chuchang Investment Group Co., Ltd. 2022 Non-public Issuance of Exchangeable Corporate Bonds (Third Tranche)." Following this, Chuchang Investment plans to apply for the cancellation of associated stock guarantees and trust registrations with the Shanghai branch of China Securities Depository and Clearing Corporation Limited.

The redemption involves the transfer of 55,550,840 company shares held in the "Chuchang Group-Guolian Minsheng Sponsorship-22 Chuchang EB03 Guarantee and Trust Property Account" back to Chuchang Investment's securities account. As a result, this dedicated account will no longer hold company shares.

Post-cancellation of the stock guarantees and trust registrations, Chuchang Investment will hold 459,506,100 company shares, maintaining its position as the controlling shareholder. This transaction will not alter the company's controlling shareholder or actual controller, nor does it constitute a tender offer.