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Guolian Minsheng Securities Investment Banking Co., Ltd. Report on the Fourth Quarter of 2025 and First Quarter of 2026 Continuing Supervision Opinion for Zhejiang Asia-Pacific Pharmaceutical Co., Ltd. Detailed Equity Change Report

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This report provides a continuing supervision opinion on the equity change of Zhejiang Asia-Pacific Pharmaceutical Co., Ltd. by Guolian Minsheng Securities. It confirms that the acquisition procedures were compliant, disclosures were timely, and the acquirer and the company operated in accordance with regulations. No violations of commitments or significant changes in business plans were found during the supervision period.

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Statement

On October 13, 2025, Zhejiang Xinghao Holdings Partnership (Limited Partnership) (hereinafter referred to as "Xinghao Holdings") and its concerted party Zhejiang Xingchen Equity Investment Partnership (Limited Partnership) (hereinafter referred to as "Xingchen Investment") signed a "Share Transfer Agreement" with Ningbo Fubang Holdings Group Co., Ltd. (hereinafter referred to as "Fubang Group") and Shanghai Angui Investment Management Co., Ltd. (hereinafter referred to as "Angui Investment") to acquire a total of 108,945,566 shares of Zhejiang Asia-Pacific Pharmaceutical Co., Ltd. (hereinafter referred to as "Asia-Pacific Pharmaceutical" or "the Company"). On the same day, Xinghao Holdings and its concerted party Xingchen Investment signed an "Concerted Action Agreement" and a "Voting Rights Entrustment Agreement". After the completion of the above transaction, Xinghao Holdings and its concerted party Xingchen Investment obtained control of the listed company, Xinghao Holdings became the controlling shareholder of the listed company, and Qiu Zhongxun became the actual controller of the listed company. On January 7, 2026, the above share transfer was completed with the transfer registration procedures and the "Confirmation of Securities Transfer Registration" issued by the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited was obtained.

Guolian Minsheng Securities Investment Banking Co., Ltd. (hereinafter referred to as "the Financial Advisor") was entrusted to serve as the financial advisor for this acquisition. On October 14, 2025, the Company announced the "Detailed Equity Change Report".

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Guolian Minsheng Securities Investment Banking Co., Ltd. Report on the Fourth Quarter of 2025 and First Quarter of 2026 Continuing Supervision Opinion for Zhejiang Asia-Pacific Pharmaceutical Co., Ltd. Detailed Equity Change Report — Asia-Pacific Pharmaceuticals Co., Ltd. | SZSE Releases