Subsidiary of Guangzhou Baiyunshan Pharmaceutical Holdings(600332.SH) plans to acquire 100% equity of Zhejiang Yigong for 501 million yuan.

Guangzhou Baiyunshan Pharmaceutical Holdings (600332.SH) announced that its subsidiary, Guangzhou Pharmaceutical, is planning to acquire 100% equity of Zhejiang Pharmaceutical Industry Co., Ltd. ("Zhejiang Medical Industry") held by Zhejiang Hisun Pharmaceutical through public takeover, with a transfer price of 501 million yuan. Zhejiang Medical Industry is located in the Yangtze River Delta region, where the pharmaceutical market is developed, and is a top 6 quality pharmaceutical distribution company in Zhejiang Province. Meanwhile, Zhejiang Medical Industry has been deeply rooted in the pharmaceutical market of Zhejiang Province, accumulating rich customer resources, with a sales revenue of over 4 billion yuan in the past year and promising prospects. This transaction will benefit Guangzhou Pharmaceutical in gaining access to mature customer networks in Zhejiang Province and its surrounding areas, further optimizing Guangzhou Pharmaceutical's industrial layout in the East China region, enhancing its coverage and depth in the domestic terminal market, and aligning with the company's and Guangzhou Pharmaceutical's long-term strategic planning.