Hongri Pharmaceutical Co., Ltd. plans to transfer the equity of Lianyungang Wantai Pharmaceutical Excipients Technology Co., Ltd., with an assessed value of 38 million yuan.

Data Zhongfangwang  Tianjin Hongri Pharmaceutical Co., Ltd. (Stock Code: 300026) recently disclosed that its controlling subsidiary, Tianjin Boguang Medical and Health Biotechnology Development Co., Ltd., intends to transfer its equity in Lianyungang Wantai Pharmaceutical Auxiliary Materials Technology Co., Ltd. To this end, Hongri Pharmaceutical commissioned Yinxin Asset Appraisal Co., Ltd. to evaluate the full equity value of Lianyungang Wantai.

According to the appraisal report issued by Yinxin Asset Appraisal Co., Ltd. (Yinxin Appraisal Report No. (2025) 010170), with October 31, 2025, as the valuation date, using the income approach, the total equity value of Lianyungang Wantai Pharmaceutical Auxiliary Materials Technology Co., Ltd. is RMB 38 million. This valuation exceeds its book net asset value of RMB 31.3203 million by RMB 6.6797 million, an increase of 21.33%. The report also provides a valuation result based on the asset-based approach as a comparison, which is RMB 36.3906 million.

Lianyungang Wantai Pharmaceutical Auxiliary Materials Technology Co., Ltd. was established in 2007 and is a controlled subsidiary of Hongri Pharmaceutical. It focuses on the research, production, and technical services of auxiliary products such as pharmaceutical acrylic resins, and is a high-tech enterprise recognized by the state. As of the valuation date, its equity structure is 50.9804% held by Tianjin Boguang Medical and Health, 41.6667% by individual Zhang Shaoguo, and 7.3529% by Wang Ping. The conclusion of this appraisal report is valid until October 30, 2026.

The report specifically notes that some inventory goods and work-in-progress within the scope of the valuation are expired; the valuation has been based on the effective quantities. Except for deferred income, no other valuation gains or losses affecting income tax have been considered. This valuation conclusion provides a reference for the current equity transfer.