Shenzhen Salubris Pharmaceuticals (002294.SZ) plans to repurchase a 6.14% equity stake in its subsidiary Xintai Medical for 427 million yuan.

Shenzhen Salubris Pharmaceuticals (002294.SZ) announced that recently, in accordance with the repurchase clauses stipulated in the original agreement, given that Xintai Medical failed to achieve a qualified initial public offering within the agreed timeframe, the company intends to fulfill its equity repurchase obligation as agreed and has signed a Transfer Agreement with the investors. The company will, as agreed, use self-raised funds of RMB 427 million to repurchase a total of 6.1424% equity interest in Xintai Medical held by the investors. Upon completion of the repurchase, the company's shareholding in Xintai Medical will increase from 87.3639% to 93.5063%.