Tonghua Golden-Horse forms new subsidiary for innovation investment

Tonghua Golden-Horse Pharmaceutical Industry (SZSE:000766) announced on November 6, 2025, the establishment of a wholly-owned subsidiary, Guilin Jinma Innovative Investment Co., Ltd., with a registered capital of RMB 70 million. This decision aligns with the company's strategic plan to transform into an innovation-driven modern pharmaceutical enterprise.

The new subsidiary, 100% owned by Tonghua Golden-Horse, aims to enhance the company's core competitiveness by focusing on mergers and acquisitions and strategic initiatives in the innovative drug industry. Its business scope includes investment activities using proprietary funds and medical research and experimental development. The establishment is expected to optimize the company’s industrial layout and strengthen its market position, contributing to long-term sustainable development.

This investment will be funded through the company’s own or self-raised capital and is not expected to significantly impact current financial performance or operating results. The board of directors unanimously approved the resolution, confirming the establishment is within the board’s approval authority.