Hehuang Pharmaceutical (00013) issued an announcement. On December 31, 2024, the seller Shanghai Hehuang Pharmaceutical Investment (Incense...
Zhitong Finance App News, Hehuang Pharmaceutical (00013) announced that on December 31, 2024, the seller Shanghai Hewang Pharmaceutical Investment (Hong Kong) Limited (a wholly-owned subsidiary of the company) entered into a share purchase agreement with Gimpo Healthcare Equity Investment Management for sale with a total purchase price of RMB 3.483 billion (approximately US$0.473 billion); and with a total purchase price of RMB 0.995 billion (approximately 0.0.135 billion US dollars) (billion US dollars) sold Shanghai Pharmaceutical's shares for sale (accounting for 10% of Shanghai Hehuang Pharmaceutical's shares) and Shanghai Pharmaceutical entered into a stock purchase agreement with Shanghai Pharmaceutical.
According to the announcement, since the Group's core business is the discovery, global development and commercialization of targeted drugs and immunotherapy for cancer and immune diseases (including advancing next-generation antibody-targeted conjugate drug projects), the proposed sale will be through monetizing the value associated with the Shanghai and Huang Pharmaceutical joint venture operating its own brand prescription drug business, thereby further optimizing the Group's capital and debt structure (including increasing its cash balance and reducing its domestic debt level), and allowing the Group to focus resources on its core business areas.
