Group 1 - The acquisition involves a transfer of state-owned equity that results in the acquirer and its concerted parties indirectly controlling more than 30% of the voting rights in the listed company, triggering the obligation to make a public offer [2] - The acquisition is exempt from the obligation to make a public offer as it falls under the conditions specified in Article 63 of the Regulations on the Takeover of Listed Companies [2][28] - The acquirer and its concerted parties have committed that the report summary does not contain any false records, misleading statements, or significant omissions, and they bear legal responsibility for its authenticity, accuracy, and completeness [2][30] Group 2 - The acquirer is a wholly state-owned enterprise controlled by the Shanghai State-owned Assets Supervision and Administration Commission, with its operational management handled by Shanghai Industrial Group [5] - The acquirer has a diversified business model, primarily focusing on investment and management, with subsidiaries engaged in equity investment, real estate development, finance, and other sectors [6] - The acquirer has not faced any administrative or criminal penalties, nor has it been involved in significant civil litigation or arbitration in the past five years [7] Group 3 - The purpose of the acquisition is to optimize the management structure and establish a mechanism for the allocation of state capital, supporting the reform of state-owned enterprises and enhancing core competitiveness [17] - The acquisition will not change the controlling shareholder or actual controller of the listed company, which remains the Shanghai State-owned Assets Supervision and Administration Commission [18] - The acquirer plans to increase its stake in Shanghai Pharmaceuticals by acquiring an additional 55 million to 74 million H-shares within the next 12 months, using its own funds [19] Group 4 - Prior to the equity adjustment, the acquirer directly held 221,801,798 shares of Shanghai Pharmaceuticals, accounting for 5.981%, and indirectly held 716,516,039 shares, totaling 25.303% [21] - After the equity adjustment, the acquirer and its concerted parties will hold a total of 38.748% of the shares in Shanghai Pharmaceuticals, maintaining the same actual controller [22][24] - The shares involved in the equity adjustment are all tradable and do not have any restrictions such as pledges or judicial freezes [25] Group 5 - The equity adjustment is a government-approved transfer of state-owned shares, and the acquirer does not need to pay any consideration for the shares acquired [26] - The report summary has been prepared in accordance with relevant laws and regulations, ensuring that all necessary information has been disclosed [29]

香港交易及結算所有限公司和香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 上 海 醫 藥 集 團 股 份 有 限 公 司 Shanghai Pharmaceuticals Holding Co., Ltd. * （於中華人民共和國註冊成立的股份有限公司） （股份代碼：02607） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條而作出。 茲載列上海醫藥集團股份有限公司（「本公司」）在上海證券交易所網站(http://www.sse.com.cn) 刊登的《上海醫藥集團股份有限公司收購報告書》、《上海醫藥集團股份有限公司收購報告書 摘要》、《上海市錦天城律師事務所關於<上海醫藥集團股份有限公司收購報告書>之法律意 見書》、《上海市錦天城律師事務所關於上海上實（集團）有限公司及其一致行動人免於發出 要約事宜之法律意見書》僅供參閱。 承董事會命 上海醫藥集團股份有限公司 楊秋華 董事長 中國上海，2025 年 12 月 31 日 於本公告日期，本公司 ...

自願公告 完成控股股東股權調整 茲提述上海醫藥集團股份有限公司（「本公司」）日期為2025年10月15日的公告（「公 告」），內容有關，本公司的實際控制人上海市國資委將上實集團的全部股權調整至金鐘控 股（「本次股權調整」）。除另有界定外，本公告所用詞彙與該等公告所界定者具有相同涵 義。 於2025年12月29日，本次股權調整已根據該等公告所載結構完成。本次股權調整不會導致本 公司控股股東和實際控制人發生變化，本公司的實際控制人仍為上海市國資委。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因依賴該等內容而引致之任何損失承擔任何責任。 上海醫藥集團股份有限公司 Shanghai Pharmaceuticals Holding Co., Ltd.* ( 於中華人民共和國註冊成立的股份有限公司 ) (股份代碼: 02607) 承董事會命 上海醫藥集團股份有限公司 楊秋華 董事長 * 僅供識別 1 自該等公告日期起，上實國際已根據最新增持計劃增加其在本公司的持股比例。截至本次股 權調整完成時，上實集 ...

上海医药集团股份有限公司 收购报告书 签署日期：2025 年 12 月 上市公司名称： 上海医药集团股份有限公司 股票上市地点： 上海证券交易所、香港联合交易所有限公司 股票简称： 上海医药 股票代码： 601607.SH、02607.HK 收购人名称： 上海上实（集团）有限公司 住所及通讯地址： 上海市淮海中路 98 号金钟广场 21 楼 一致行动人： 金钟国际控股有限公司 住所及通讯地址： 香港湾仔告士打道 39 号夏悫大厦 27 楼 收购人及其一致行动人声明 本部分所述词语或简称与本报告书"释义"所述词语或简称具有相同含义。 一、本报告书系收购人及其一致行动人依据《中华人民共和国公司法》《中 华人民共和国证券法》《上市公司收购管理办法》《公开发行证券的公司信息披 露内容与格式准则第 16 号——上市公司收购报告书》及其它相关法律、法规、部 门规章和规范性文件的规定编写。 二、依据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 收购管理办法》《公开发行证券的公司信息披露内容与格式准则第 16 号——上市 公司收购报告书》的规定，本报告书已全面披露了收购人及其一致行动人在上海 医药拥有权益的股份 ...

收购人及其一致行动人声明 本部分所述词语或简称与本报告书摘要"释义"所述词语或简称具有相同含 义。 上海医药集团股份有限公司 收购报告书摘要 签署日期：2025 年 12 月 上市公司名称： 上海医药集团股份有限公司 股票上市地点： 上海证券交易所、香港联合交易所有限公司 股票简称： 上海医药 股票代码： 601607.SH、02607.HK 收购人名称： 上海上实（集团）有限公司 住所及通讯地址： 上海市淮海中路 98 号金钟广场 21 楼 一致行动人： 金钟国际控股有限公司 住所及通讯地址： 香港湾仔告士打道 39 号夏悫大厦 27 楼 一、本报告书摘要系收购人及其一致行动人依据《中华人民共和国公司法》 《中华人民共和国证券法》《上市公司收购管理办法》《公开发行证券的公司信 息披露内容与格式准则第 16 号——上市公司收购报告书》及其它相关法律、法规、 部门规章和规范性文件的规定编写。 二、依据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 收购管理办法》《公开发行证券的公司信息披露内容与格式准则第 16 号——上市 公司收购报告书》的规定，本报告书摘要已全面披露了收购人及其一致行动人在 上海 ...

上海市锦天城律师事务所 关于 《上海医药集团股份有限公司收购报告书》 之 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 | | | 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于《上海医药集团股份有限公司收购报告书》 之法律意见书 致：上海上实（集团）有限公司 上海市锦天城律师事务所（以下简称"本所"）接受上海上实（集团）有限公 司（以下简称"公司"或"上海上实"）委托，根据《中华人民共和国公司法》 《中华人民共和国证券法》《上市公司收购管理办法》《公开发行证券的公司信 息披露内容与格式准则第 16 号——上市公司收购报告书》等法律法规的有关规 定，就上海上实为本次收购而编制的《上海医药集团股份有限公司收购报告书》 相关事宜出具本法律意见书。 为出具本法律意见书，本所及本所经办律师声明如下： 1、本所仅依据本法律意见书出具日以前已经发生或存在的事实和中国境内 现行法律、行政法规、部门规章和其他规范性文件及中国证券监督管理委员会（以 下简称"中国证监会"）、上海证券交易所 ...

上海市锦天城律师事务所 关于上海上实（集团）有限公司及其一致行动人 免于发出要约事宜 之 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 | | | 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于上海上实（集团）有限公司及其一致行动人 免于发出要约事宜之法律意见书 致：上海上实（集团）有限公司 上海市锦天城律师事务所（以下简称"本所"）接受上海上实（集团）有限公 司（以下简称"公司"或"上海上实"）委托，根据《中华人民共和国公司法》 《中华人民共和国证券法》《上市公司收购管理办法》《公开发行证券的公司信 息披露内容与格式准则第 16 号——上市公司收购报告书》等法律法规的有关规 定，就上海上实及其一致行动人金钟国际控股有限公司（以下简称"金钟控股"） 本次收购所涉及的免于发出要约事宜，出具本法律意见书。 为出具本法律意见书，本所及本所经办律师声明如下： 1、本所仅依据本法律意见书出具日以前已经发生或存在的事实和中国境内 现行法律、行政法规、部门规章和其他规范性文件及中国证 ...

上海医药公告，上海市国资委将其所持有的上实集团股权调整至上海上实新设子公司金钟控股，从而使 得上海上实间接拥有上海医药权益，并成为上海医药间接控股股东。此次股权调整后，上海上实及其一 致行动人持有上海医药股份比例从25.303%增至38.748%。上海医药的实际控制人仍为上海市国资委。 ...

Market Overview - The pharmaceutical commercial sector experienced a slight decline of 0.0% on December 30, with Saily Medical leading the drop [1] - The Shanghai Composite Index closed at 3965.12, also down by 0.0%, while the Shenzhen Component Index rose by 0.49% to 13604.07 [1] Stock Performance - Notable gainers in the pharmaceutical sector included: - Yingte Group (000411) with a closing price of 13.23, up by 9.98% and a trading volume of 419,800 shares [1] - Yao Yigou (300937) at 35.65, up by 7.64% with 125,700 shares traded [1] - HeFu China (603122) at 26.00, up by 6.17% with a trading volume of 985,200 shares [1] - Conversely, Saily Medical (603716) saw a decline of 3.19% to a closing price of 20.95, with a trading volume of 123,200 shares [2] Capital Flow - The pharmaceutical commercial sector saw a net inflow of 258 million yuan from institutional investors, while retail investors contributed a net inflow of 54.61 million yuan [2] - Notable capital flows included: - HeFu China (603122) with a net inflow of 286 million yuan from institutional investors [3] - Yingte Group (000411) with a net inflow of 134 million yuan from institutional investors [3] - Yao Yigou (300937) with a net inflow of 16.36 million yuan from institutional investors [3]

Core Viewpoint - Shanghai Pharmaceuticals Group Co., Ltd. plans to renew the "Daily Related Transactions/Continuous Related Transactions Framework Agreement" with Yunnan Baiyao Group Co., Ltd. for the period from January 1, 2026, to December 31, 2026, with a sales cap of RMB 1.2 billion and a procurement cap of RMB 700 million [2][3]. Transaction Overview - The agreement stipulates that Shanghai Pharmaceuticals will sell products to Yunnan Baiyao with a maximum amount of RMB 1.2 billion and purchase products from Yunnan Baiyao with a maximum amount of RMB 700 million during the specified period [2][3]. - Yunnan Baiyao holds 17.95% of Shanghai Pharmaceuticals' shares, making it the second-largest shareholder and an associated party under the Shanghai Stock Exchange rules [2][3]. - The transaction exceeds RMB 3 million and is between 0.5% and 5% of the latest audited net assets, requiring board approval but not shareholder meeting approval [2][3]. Approval Process - The proposal was approved during the 27th meeting of the 8th Board of Directors on December 29, 2025, with independent directors reviewing and endorsing the transaction [3]. - Associated directors recused themselves from the vote, and the remaining non-associated directors unanimously agreed to the proposal [3]. Previous and Current Transaction Estimates - The framework agreement considers factors such as the estimated demand for pharmaceuticals, medical devices, health products, and traditional Chinese medicine from both parties for the year 2026 [5]. - Historical transaction data and anticipated growth due to business development were also taken into account [5]. Related Party Information - Yunnan Baiyao Group Co., Ltd. is a publicly listed company with total assets of RMB 53.343 billion and equity of RMB 39.818 billion as of the end of Q3 2025 [6]. - The company reported a revenue of RMB 30.654 billion and a net profit of RMB 4.789 billion for the first three quarters of 2025 [6]. Agreement Details and Pricing Principles - The agreement allows Shanghai Pharmaceuticals and its subsidiaries to sell and purchase various products from Yunnan Baiyao and its subsidiaries, with sales capped at RMB 1.2 billion and purchases at RMB 700 million for 2026 [8][10]. - Pricing will be determined based on market conditions, order size, and costs, ensuring fairness and alignment with third-party pricing [11]. Internal Monitoring Measures - The company has implemented internal monitoring measures to ensure compliance with the agreement, including regular assessments of pricing principles and transaction amounts [12]. Purpose and Impact on the Company - The related transactions are necessary for the company's daily operations and are structured to protect the interests of all shareholders, ensuring no adverse effects on the company's independence [13].