Core Viewpoint - The company plans to spin off its subsidiary Mandi Group and list it independently on the Hong Kong Stock Exchange, which is expected to enhance shareholder value and provide greater market visibility for Mandi [1][2]. Group 1: Spin-off Details - The proposed spin-off will involve a distribution of Mandi shares to existing shareholders based on their ownership percentage in the company, along with a global offering of new Mandi shares [1]. - Mandi submitted its application to the Stock Exchange on November 20, 2025, for the approval of its shares to be listed and traded on the main board [1]. Group 2: Ownership Structure - As of the announcement date, Mandi is beneficially owned by the company (approximately 87.16%), along with other entities including Intai Management Limited, Mandi Group Limited, GL Wecan Investment IV L.P., and Alibaba Health (Hong Kong) Technology Co., Ltd. [2]. Group 3: Company Profile - Mandi is recognized as a leading professional consumer pharmaceutical company in China, focusing on comprehensive and long-term solutions for skin health and weight management [2]. - The company has established a leadership position in the hair health sector within the broader skin health industry, having launched the first 5% minoxidil solution under the Mandi® brand in 2001 [2]. - In 2024, Mandi plans to introduce a second-generation minoxidil product, the Mandi® 5% minoxidil foam [2].
三生制药(01530)建议分拆蔓迪国际并于联交所主板独立上市