Shareholders intend to liquidate more than 6% of their holdings in Haizheng Pharmaceutical, with a transfer price not less than 10.34 yuan per share

On March 3rd, Haizheng Pharmaceutical (SH600267, stock price 10.04 RMB, market value 12.036 billion RMB) disclosed further information regarding the plan for shareholders holding more than 5% to transfer their shares. According to the announcement, Zhejiang International Trade Group Co., Ltd. (hereinafter referred to as Guomao Group) intends to transfer all 72.6739 million unrestricted circulating shares it holds through a public solicitation, accounting for 6.06% of the company’s total share capital. This transfer has been pre-approved by the Zhejiang State-owned Assets Supervision and Administration Commission, with a transfer price not less than 10.34 RMB per share.

The shares being publicly solicited for transfer are all unrestricted circulating shares directly held by Guomao Group, totaling 72.6739 million shares, representing 6.06% of the company’s total share capital. The announcement states that this transfer will not result in a change of the company’s controlling shareholder or actual controller.

In January, Haizheng Pharmaceutical had already issued a reminder about this matter, and after the market close on March 3rd, the company disclosed additional details.

Regarding the transfer price, the announcement clearly states it will be “the higher of the average daily weighted price over the 30 trading days prior to the public solicitation announcement date (January 5, 2026) and the company’s audited net asset value per share for the most recent fiscal year.” Calculations show that the average daily weighted price over the past 30 trading days is 10.34 RMB per share, and the audited net asset value per share for 2024 is 6.96 RMB. Therefore, the minimum transfer price is set at 10.34 RMB per share.

The announcement also notes that the transfer must be approved by the state-owned assets supervision department and other relevant authorities before the public solicitation process can begin. The solicitation period is 30 trading days, from March 4, 2026, to April 15, 2026; if no interested parties are solicited by then, the period will be extended in 10-day cycles. Interested bidders must be single domestic legal entities and are required to pay a deposit of 230 million RMB (calculated as the number of shares to be transferred multiplied by the minimum price, which is 30%).

If the transaction is completed, Guomao Group will no longer directly hold shares of Haizheng Pharmaceutical. The company emphasizes that this transfer is still subject to approval uncertainties, procedural timelines, and the potential absence of a confirmed buyer. The company will continue to monitor the progress and fulfill its disclosure obligations.

Daily Economic News