Maccura shareholder share reduction plan ends early, governance shifts

Maccura Biotechnology's shareholder, Mr. Guo Lei, and his concerted parties, including Shanghai Axing Investment Management Co., Ltd., prematurely concluded their share reduction plan. This action ends the plan to reduce 16,327,928 shares (2.68% of total share capital), with 16,027,928 shares having been reduced. Following this, the concerted action relationship between Mr. Guo Lei and Shanghai Axing Investment Management Co., Ltd. has automatically dissolved, as the latter fully divested their Maccura shares.

In parallel, Maccura is revising its articles of association to eliminate the supervisory board, transferring its functions to the board's audit committee. The board's structure will also change, with one non-independent director position converted to an employee representative director. These changes aim to enhance corporate governance and are subject to shareholder approval at an extraordinary general meeting.

Additionally, Maccura plans to provide guarantees of up to RMB350,000,000 for credit lines for its distributors to support channel business development. This initiative, which also requires shareholder approval, is designed to help distributors with working capital, expand sales, and improve accounts receivable collection. The company also updated several internal management policies.