Da An Gene's indirect controlling shareholder changes hands

Guangzhou Daan Gene Co., Ltd. (Da An Gene) announced that its indirect controlling shareholder will change following an agreement involving Guangzhou Financial Holdings Group Co., Ltd., Guangzhou Biomedicine and Health Industry Investment Co., Ltd., and Guangzhou Pharmaceutical Group Co., Ltd. Guangzhou Pharmaceutical Group will acquire Guangyong Technology Co., Ltd., which holds Da An Gene shares, and directly acquire additional Da An Gene shares from Guangzhou Financial Holdings and Guangzhou Biomedicine and Health Industry Investment. Post-transaction, Guangzhou Pharmaceutical Group will control 373,736,601 shares, representing 26.63% of Da An Gene's total share capital, becoming its indirect controlling shareholder.

Both Guangzhou Financial Holdings and Guangzhou Pharmaceutical Group are controlled by the Guangzhou Municipal People's Government. This ensures Da An Gene's ultimate actual controller remains unchanged, and its direct controlling shareholder, Guangyong Technology, will retain its shareholding. The transaction, valued at 908,029,600.82 yuan for the directly transferred shares, is subject to regulatory approvals and due diligence. The company also confirmed the election of Ms. Chen Jie as an employee representative director to its Ninth Board of Directors and approved amendments to its internal governance policies.