ZMC(SH:600216) Zheng Quan Shi Bao Wang·2025-11-26 12:41Core Viewpoint - Zhejiang Pharmaceutical plans to spin off its subsidiary, Zhejiang Xima Biopharmaceutical Co., Ltd., for a listing on the Hong Kong Stock Exchange to enhance its biopharmaceutical segment and overall profitability [1][2] Group 1: Spin-off Details - The spin-off is currently in the preliminary planning stage, with no specific plan finalized yet, indicating uncertainty [1] - The purpose of the spin-off is to promote the development of the biopharmaceutical segment, broaden financing channels, and enhance the overall profitability and core competitiveness of Zhejiang Pharmaceutical [1][2] - The spin-off will not result in Zhejiang Pharmaceutical losing control over Xima Biopharmaceutical, nor will it adversely affect the operations or profitability of other business segments [1] Group 2: Xima Biopharmaceutical Overview - Xima Biopharmaceutical is a key subsidiary focused on the research and production of biopharmaceuticals, with capabilities in gene engineering, cell culture, toxin synthesis, and clinical research [2] - In November, Xima Biopharmaceutical completed a strategic acquisition of all preclinical pipelines and related platform technology patents from Shanghai New Concept Biopharmaceutical Technology Co., Ltd., enhancing its management team and research pipeline [2] - The acquisition brought in Dr. Han Nian, a scientist with nearly 30 years of experience in the biopharmaceutical R&D field, who will serve as the Chief Scientific Officer, adding valuable expertise in antibody-drug conjugates (ADC) [2]