Pharmaron Beijing (03759) plans to build a project in Shaoxing that would produce 200 tons of pharmaceutical intermediates and APIs annually.

Pharmaron Beijing (03759) announced that in order to further expand the production capacity of high-end pharmaceutical intermediates and active pharmaceutical ingredients, strengthen the application capability of green manufacturing technology, enhance the CDMO service capability from pre-clinical to commercialization, solidify the foundation of core business, and comprehensively improve the overall competitiveness and industry market position, the company plans to build a project with an annual production capacity of 200 tons of pharmaceutical intermediates and APIs through its wholly-owned subsidiary Pharmaron Beijing (Shaoxing) New Drug Production Co., Ltd. (Kanglong Shaoxing) in Shaoxing, Zhejiang province, in the Hangzhou Bay Shangyu Economic and Technological Development Zone. The total investment in the Shaoxing project is RMB 3 billion (the total investment amount is subject to the actual investment in the end). The company has acquired new land of 253 mu in the Hangzhou Bay Shangyu Economic and Technological Development Zone of Shaoxing City (specific area subject to the "State-owned Construction Land Use Right Transfer Contract" and the area indicated in the real estate certificate issued by the government authorities). The Shaoxing project is planned to be constructed in two phases, including the construction of new production workshops, warehouses, supporting facilities, purchase of analytical instruments, and other equipment. After the completion of the entire project, it is expected to have an annual production capacity of 200 tons of pharmaceutical intermediates and active pharmaceutical ingredients (including pharmaceutical intermediates and APIs for the treatment of obesity, diabetes, tumors, etc.). The first phase is expected to be put into operation in 2028, and the second phase is expected to be put into operation in 2030, subject to the actual construction progress.