Shanghai Pharmaceuticals, the controlling shareholder of Shanghai Pharmaceuticals (601607.SH), plans to increase its holdings of the company's H shares.

China Fortune Financial News APP information, Shanghai Pharmaceuticals (601607.SH) announced that, based on confidence in the company's future development, the controlling shareholder of the company, Shanghai Pharmaceuticals Group, plans to increase its holdings of the company's H shares through its wholly-owned subsidiary Shanghai International within the next 12 months, using the Centralized Competitive Bid method on the Hong Kong Stock Exchange, by 55 million shares to 74 million shares, not exceeding 2% of the company's voting shares. The price range for this increase has not been set, and the timing of the stock increase will be based on market conditions. The funds for the increase will come from Shanghai International's own funds.