On 28 March 2022, Shanghai Pharmaceuticals Holding Co., Ltd. (600607.SH/02607.HK) (“SPH”) completed its non-public offering of A shares. The company raised RMB 13.975 billion in this non-public offering, with Yunnan Baiyao (000538.SZ) participating as a strategic investor, marking the refinancing project with the largest amount of funds raised by a listed company as well as the largest amount of funds raised by a listed company in A-share pharmaceutical industry so far.

SPH is a large pharmaceutical group listed on both Shanghai Stock Exchange and Hong Kong Stock Exchange, and a Fortune 500 company, with its main business covering pharmaceutical industry, commerce and retail. Yunnan Baiyao is a century-old Chinese brand and a well-known trademark in China, focusing on pharmaceutical manufacturing, research and development of new medicines, pharmaceutical distribution services and Chinese medicine resource development. By introducing Yunnan Baiyao as a strategic investor, SPH intends to further enhance its capital strength, increase investment in R&D, improve corporate governance, and cooperate synergistically in various fields by virtue of high-quality resources on both sides.

Grandall Shanghai Office has been retained as the legal counsel of SPH with YUE Yongping, YANG Jing and other paralegals serving the case.