Shanghai Pharmaceuticals Holding (601607.SH) controlling shareholder intends to increase its holdings of the company's H shares.

Shanghai Pharmaceuticals Holding (601607.SH) announced that based on their confidence in the company's future development, the controlling shareholder Shanghai Pharmaceuticals Group plans to increase their holdings of the company's H shares through their wholly-owned subsidiary Shanghai International in the next 12 months. The increase will be done through the Hong Kong Stock Exchange's centralized bid system, with the total number of shares to be increased ranging from 55 million to 74 million, not exceeding 2% of the total voting rights of the company. The increase will not have a fixed price range, and will be conducted opportunistically based on market conditions. The funds for the increase will come from Shanghai International's own funds.