Core Viewpoint - Beijing Shuanglu Pharmaceutical Co., Ltd. announced that its associate company, Changfeng Pharmaceutical Co., Ltd., is expected to be listed on the Hong Kong Stock Exchange on October 8, 2025, with a global offering of 41.198 million shares at a price of HKD 14.75 per share [1] Group 1 - The total number of shares offered in the global sale is 41.198 million [1] - The offering price per share is set at HKD 14.75 [1] - After the offering, Shuanglu Pharmaceutical will hold 15.165653 million shares of Changfeng Pharmaceutical, representing 3.68% of the total shares post-issuance [1] Group 2 - The lock-up period for Shuanglu Pharmaceutical's shares in Changfeng Pharmaceutical is 12 months [1] - According to regulations, Shuanglu Pharmaceutical will classify its equity stake in Changfeng Pharmaceutical as a financial asset [1] - The listing of Changfeng Pharmaceutical is expected to have a positive impact on Shuanglu Pharmaceutical's financial and operational results in 2025, subject to audit results [1]