Shanghai Fosun Pharmaceutical (02196) plans to spin off its subsidiary Fosun Pharma to list on the Stock Exchange of Hong Kong.

Shanghai Fosun Pharmaceutical (02196) announced that on January 22, 2026, the board of directors considered and approved the proposal to split off Fosun Pharma Antetoxin and list it on the Hong Kong Stock Exchange. The shares (H shares) to be listed on the Main Board of the Hong Kong Stock Exchange will have a face value of RMB 1.00 per share. The initial offering size of Fosun Pharma Antetoxin will not exceed 25% of the total enlarged share capital after the issuance (excluding the exercise of the oversubscription rights). In addition, the global coordinator or bookrunner will be granted oversubscription rights not exceeding 15% of the initial offering size mentioned above. The issuance will be conducted globally, targeting institutional investors, enterprises, individuals, qualified domestic institutional investors, and other investors compliant with regulatory requirements both in China and overseas. The group is an innovative, globally-oriented healthcare industry group with operations in pharmaceuticals, medical devices and diagnostics, healthcare services, and pharmaceutical commerce through its associated company Sinopharm Group Co., Ltd. (listed on the Hong Kong Stock Exchange, stock code: 01099). Fosun Pharma Antetoxin is the group's vaccine business platform. Currently, Fosun Pharma Antetoxin group is primarily engaged in vaccine research, production, and sales using attenuated/killed technology, polysaccharide/conjugate technology, and recombinant protein technology platforms, operating independently from the group (excluding Fosun Pharma Antetoxin group). It is anticipated that the proposed spin-off listing will not have an impact on the sustained operations of other business segments within the group. Upon completion of the proposed spin-off listing, Fosun Pharma Antetoxin is expected to remain a subsidiary of the company, with its financial condition and profitability still reflected in the group's consolidated financial statement data. Following the completion of the proposed spin-off listing, there may be a possibility of a decrease in the net profit (loss) attributable to Fosun Pharma Antetoxin in the short term for the company, however, it is expected that Fosun Pharma Antetoxin's financing capabilities will be strengthened in the medium to long term, with an increase in operational scale, production and research capabilities, enhancement of overall competitiveness, brand recognition, and market influence, all contributing to the improvement of the group's future overall profit levels and promoting long-term value creation. The proposed spin-off listing does not involve the issuance of new shares by the company and will not affect the company's equity structure.