Livzon Pharmaceutical adjusts Mabpharm transaction limits for 2025

Livzon Pharmaceutical Group announced adjustments to its 2025 continuing connected transaction annual caps with Livzon Mabpharm. The annual cap for utilities (water, electricity, steam, and sewage treatment) has been raised from RMB11.80m to RMB16.00m, while the cap for labor services has increased from RMB11.60m to RMB45.00m. These adjustments, approved by the board on December 5, 2025, reflect Livzon Mabpharm's expanded operations, including production, R&D projects, and increased demand for contract research and manufacturing services.

The changes are documented in supplemental agreements. The transactions are classified as continuing connected transactions under Chapter 14A of the Hong Kong Listing Rules, requiring reporting and announcement but exempt from shareholder approval due to percentage ratios remaining below 5%. The board, including independent non-executive directors, deems the transactions to be on normal commercial terms, fair, and reasonable.

Four directors, Zhu Baoguo, Tang Yanggang, Lin Nanqi, and Qiu Qingfeng, abstained from voting due to their significant interests stemming from Health Yuan's indirect 22.58% ownership in Livzon Mabpharm and their respective positions within Health Yuan and Livzon Bio. The company's internal control measures, including regular reviews by the financial general manager and company secretary, are in place to ensure fair transaction pricing.