Transaction Overview - Shanghai Modern Pharmaceutical Co., Ltd. plans to publicly transfer 51% equity of its subsidiary, Shanghai Modern Harsen (Shangqiu) Pharmaceutical Co., Ltd. (referred to as Guoyao Harsen), with a base price of RMB 155.192541 million [1][2] - The transaction does not constitute a major asset restructuring and is subject to uncertainties regarding the transaction object, price, and timing [1][2] Transaction Details - The transfer will be conducted through the Shanghai United Assets and Equity Exchange, and the final buyer is yet to be determined [2] - Guoyao Harsen was established on November 12, 1999, with a registered capital of RMB 83.29 million, and its business scope includes the production and sale of pharmaceuticals, disinfectants, health foods, and more [2] Financial Performance - As of April 30, 2025, Guoyao Harsen reported total assets of RMB 339.1778 million, total liabilities of RMB 187.15 million, and a net loss of RMB 19.898 million [3][4] - The net asset value of Guoyao Harsen was RMB 152.0278 million, with an assessed value of RMB 304.2991 million, indicating a 100.16% increase in value [4] Strategic Implications - The divestiture aims to enhance the company's focus on core areas, optimize asset structure, and improve operational efficiency, as Guoyao Harsen has faced continuous operational pressure and losses since 2021 [5] - Post-transaction, Guoyao Harsen will no longer be included in the company's consolidated financial statements, aligning with the interests of the company and its shareholders [5]

Group 1 - The company plans to transfer 30% equity of its subsidiary Chongqing Peak Intelligent Technology Research Institute Co., Ltd. through public listing to optimize resource allocation and improve operational efficiency [2] - If the transaction is successfully executed, Peak Intelligent will no longer be included in the company's consolidated financial statements, while the company will retain 21.7241% equity in Peak Intelligent [2] - The equity value involved in this transaction is based on a starting price of 5.1 million yuan as of May 2025, with the final price to be determined by actual transaction conditions [2] Group 2 - The board of directors unanimously approved the proposal to transfer part of the equity of the controlling subsidiary during the 12th meeting of the 8th board session held on July 22, 2025 [1] - The meeting was attended by all 5 directors, and the procedures followed comply with the Company Law of the People's Republic of China and the company's articles of association [1] - The specific details regarding the transaction counterparties and transaction price are yet to be determined, and it is currently uncertain whether it constitutes a related party transaction [2]

Core Viewpoint - ST凯利 is selling a 51% stake in Jiangsu Runzhitai Medical Technology Co., Ltd. for 10.755 million yuan to Wuxi Youhongtai Enterprise Management Co., Ltd. This transaction aims to focus on core business, optimize resource allocation, and enhance operational efficiency [1] Group 1 - The sixth board meeting of ST凯利 will be held on June 21, 2025, to review the proposal for the sale of the stake [1] - After the transaction, ST凯利 will no longer hold any equity in Runzhitai, and Runzhitai will be excluded from the consolidated financial statements of the company [1] - The sale price for the 51% stake is set at 10.755 million yuan [1]

Group 1 - The company held its ninth meeting of the tenth board of directors, with all nine directors present, and the meeting complied with relevant laws and regulations [1] - The board approved the adjustment of the transfer price for a 65% stake in the Yinkou Energy Investment Co., Ltd. to enhance project attractiveness, reducing the base price by 10% to 50.31792 million yuan [1][2] - The board also approved the revision of the management measures for the responsibilities and business expenses of the company's executives to strengthen management [2]