Tianjin Red Sun Pharmaceutical Co., Ltd. Announcement Number: 2026-035
Tianjin Red Sun Pharmaceutical Co., Ltd. Announcement on the Progress of the Proposed Transfer of 50.98% Equity in Lianyungang Wansheng Pharmaceutical Excipients Technology Co., Ltd., a Subsidiary of its Wholly-Owned Subsidiary Tianjin Bo Guang Yi Jian Biotechnology Development Co., Ltd., Through a Listing Transaction
The Company and the Board of Directors guarantee the content of the information disclosed is true, accurate, and complete, and contains no false records, misleading statements, or material omissions.
I. Overview of the Transaction
Tianjin Red Sun Pharmaceutical Co., Ltd. (hereinafter referred to as the "Company") held the Sixth Meeting of the Ninth Board of Directors on March 20, 2026, and deliberated and approved the "Proposal on the Proposed Transfer of 50.98% Equity in Lianyungang Wansheng Pharmaceutical Excipients Technology Co., Ltd., a Subsidiary of its Wholly-Owned Subsidiary Tianjin Bo Guang Yi Jian Biotechnology Development Co., Ltd., Through a Listing Transaction." It was agreed that the floor price for the equity transfer would be based on the valuation results of Lianyungang Wansheng Pharmaceutical Excipients Technology Co., Ltd. (hereinafter referred to as "Wansheng Excipients"), a subsidiary of the Company's wholly-owned subsidiary, as of the valuation benchmark date of October 31, 2025. The Company's wholly-owned subsidiary, Tianjin Bo Guang Yi Jian Biotechnology Development Co., Ltd. (hereinafter referred to as "Bo Guang Yi Jian"), would sell the 50.98% equity it holds in Wansheng Excipients through public listing on the Southwest United Property Rights Exchange. The final transfer price will be subject to the highest accepted price publicly solicited by the property rights exchange institution. The specific details of the above matter were disclosed on the GEM Information Disclosure Website designated by the China Securities Regulatory Commission (www.cninfo.com.cn) on March 21, 2026, in the "Announcement on the Proposed Transfer of 50.98% Equity in Lianyungang Wansheng Pharmaceutical Excipients Technology Co., Ltd., a Subsidiary of its Wholly-Owned Subsidiary Tianjin Bo Guang Yi Jian Biotechnology Development Co., Ltd., Through a Listing Transaction" (Announcement Number: 2026-010).
II. Progress of the Transaction
On April 27, 2026, Bo Guang Yi Jian, a wholly-owned subsidiary of the Company, publicly listed the 50.9804% equity of Wansheng Excipients for the first time on the Southwest United Property Rights Exchange. The initial listing price was RMB 19.372552 million. The public notice period for this listing was from April 27, 2026, to May 26, 2026. For specific information regarding this listing, please refer to the Southwest United Property Rights Exchange website (https://www.swuee.com/#/index). Detailed information was disclosed on the GEM Information Disclosure Website designated by the China Securities Regulatory Commission (www.cninfo.com.cn) on April 27, 2026, in the "Announcement on the Progress of the Proposed Transfer of 50.98% Equity in Lianyungang Wansheng Pharmaceutical Excipients Technology Co., Ltd., a Subsidiary of its Wholly-Owned Subsidiary Tianjin Bo Guang Yi Jian Biotechnology Development Co., Ltd., Through a Listing Transaction" (Announcement Number: 2026-026).