Shanghai Pharmaceuticals Holding (02607) plans to transfer 51% equity of Shanghai Shyang Pharmaceutical New Special Dong'an Pharmacy.

Shanghai Pharmaceuticals Holding (02607) announced that its wholly-owned subsidiary, Shanghai Pharmaceuticals Holdings Co., Ltd., intends to transfer its 51% equity stake in its subsidiary, Shanghai Shangyao Xinte Dong'an Pharmacy Co., Ltd. (hereinafter referred to as the target company), through a public listing on a property trading platform, with the intended transfer price set at RMB 178.5 million. The announcement stated that the aforementioned transaction is an important strategic move for Shanghai Pharmaceuticals Holding to advance the overall development of its new retail business and further enhance its overall competitiveness. The aim is to optimize the allocation of resources within the new retail business by integrating and disposing of the professional pharmacy resources within the Shanghai Pharmaceuticals Holding system, strengthening the resource synergy and value release of the professional pharmacy sector, and comprehensively improving its retail terminal service capability, operational efficiency, market value, and core competitiveness. At the same time, by further focusing on existing core business areas, optimizing the business structure, and enhancing resource allocation efficiency, the company aims to achieve high-quality development.