JBM HEALTHCARE (02161) plans to spin off Bojiyuan and independently list on the main board of the Hong Kong Stock Exchange.

JBM HEALTHCARE (02161) announced that the company proposes to spin off the group's branded traditional Chinese medicine products and traditional Chinese medicine clinic services business on the main board of the Hong Kong Stock Exchange, independently listing through a global offering of Baojiyuan shares and shares. The independent listing of Baojiyuan shares and shares constitutes a corporate spin-off of Baojiyuan according to Application Guideline 15. Regarding the proposed spin-off, the company has submitted an application to the Hong Kong Stock Exchange in accordance with Application Guideline 15. On June 26, 2026, the listing committee confirmed that the company is allowed to proceed with the proposed spin-off. On July 17, 2026, Baojiyuan submitted the listing application form (Form A1) to the Hong Kong Stock Exchange for approval of the listing and trading of Baojiyuan shares on the main board. As of the date of this announcement, Baojiyuan is a wholly-owned subsidiary of the company, and it is currently expected that after the completion of the proposed spin-off, the company will hold no less than 50% of the issued share capital of Baojiyuan, and Baojiyuan will continue to be a subsidiary of the company. It is reported that the spun-off group is a Hong Kong traditional Chinese medicine group, leveraging a vertically integrated traditional Chinese medicine business model, with a core of well-established branded traditional Chinese medicine products trusted for their long history, refined formulations, proven efficacy for specific indications, and primarily engaged in the manufacturing, marketing, and distribution of branded traditional Chinese medicine products and providing traditional Chinese medicine clinic services.