Pudong International (02060.HK) Announces Pusen Medical's Onboarding of Three Strategic Investors and Plans to File STAR Market IPO by Year-End

Gelonghui, October 27 |Pujiang International(02060.HK) announced that, as part of its business strategy in preparation for PushMed’s listing application, on September 29, 2020, PushMed introduced three new strategic investors, namely Shanghai International Port (Group) Co., Ltd.,Shanghai LingangAdvanced Industrial Equity Investment Fund Partnership and Shanghai Jinhuan Industry Co., Ltd. subscribed for a 10% equity interest in PushMed by injecting a total of RMB 300 million into the company; upon completion of the capital injection, PushMed’s valuation was approximately RMB 3 billion. As of the date of this announcement, the capital injection has been completed, and the Company indirectly holds approximately 23.4% of the equity interest in PushMed.

PushMed believes that the introduction of strategic investors will help enhance its corporate image, creditworthiness, risk resilience, and recognition in the capital markets; facilitate the diversification of its shareholder structure, further improve its corporate governance framework, and continuously strengthen its comprehensive competitiveness and overall value.

In September 2020, PushMed has alreadyHaitong SecuritiesShanghai Push Medical Devices Co., Ltd. commenced the tutoring period and submitted its application. The tutoring phase is a prerequisite for PushMed to submit an A-share listing application to the Chinese stock exchanges. PushMed is expected to apply to the Shanghai Stock Exchange by the end of 2020.STAR MarketSubmit marketing authorization application.