Shenzhen Salubris Pharmaceuticals to Sell 1.5789% Stake in Jinshi Biotechnology for RMB 30 Million

This article is sourced from: China Communications News Network

SmartCom News APP reported that Salubris (002294.SZ) announced Kingstron Bio (Changshu) Co., Ltd. ("Kingstron Bio" or "Target Company"), in which Salubris Medtech, a wholly-owned subsidiary of Shenzhen Salubris Pharmaceuticals Co., Ltd. ("Salubris Medtech"), holds a 10.1081% stake. To support Kingstron Bio in introducing new investors, Salubris Medtech plans to transfer its 1.5789% equity interest in Kingstron Bio to Shenzhen Sequoia Hanchen Equity Investment Partnership (L.P.) ("Sequoia Hanchen") and Taijiashan Health Industry Equity Investment Fund (Shanghai) Partnership (L.P.) ("Taijiashan Partnership"). The total consideration for the equity transfer amounts to RMB 30 million.

In addition, Shenzhen Sequoia Hanchen Equity Investment Partnership (L.P.), Taijia Shan Partnership, Guangrun Xin Yi Medical (Tianjin) Health Industry Equity Investment Partnership (Limited Partnership) ("Guangrun Xin Yi"), Guangfa Qianhe Investment Co., Ltd. ("Guangfa Qianhe"), and Hangzhou Panlin Xukang Venture Capital Partnership (Limited Partnership) ("Panlin Xukang") (collectively referred to as the "Investors") plan to invest RMB 290 million in Kingstron Bio to acquire 13.2419% of its equity. Salubris Medtech and other existing shareholders of Kingstron Bio intend to waive their preemptive rights to subscribe in this round of investment.

Before the transfer of equity and the waiver of the preemptive right to subscribe for additional capital, Salubris Medtech held 10.1081% of Kingstron Bio's equity. After the completion of the relevant matters, Salubris Medtech will hold 7.3997% of Kingstron Bio's equity.