Core Viewpoint - Shandong Pharmaceutical Glass Co., Ltd. plans to issue up to 199,084,233 A-shares at a price of 16.25 yuan per share, aiming to raise no more than 3.235 billion yuan to supplement working capital, with the issuance subject to various approvals [1][4][5]. Company Announcements - The company held its 11th Board of Directors' fifth meeting, approving the proposal for a private placement of shares to China International Pharmaceutical Health Co., Ltd. and Shandong Yaoxin Health Industry Co., Ltd. [1][4]. - The issuance will result in China International becoming the controlling shareholder, with the actual controller changing to China National Pharmaceutical Group, ultimately controlled by the State Council's State-owned Assets Supervision and Administration Commission [2][6]. Financial Details - The total market capitalization of Shandong Pharmaceutical Glass is currently 13.996 billion yuan, ranking 22nd in the medical device sector and 1495th in the A-share market [1]. - The company reported that the net proceeds from the previous fundraising amounted to 1.842 billion yuan, which was fully utilized for specific projects, with a remaining balance of approximately 769.76 million yuan for future project construction [3]. Shareholder Changes - The original controlling shareholder, Luzhong Investment, will see its shareholding decrease from 19.50% to 15.00% following the issuance [4][6]. - After the issuance, the combined shareholding of China International and Shandong Yaoxin will be 23.08%, leading to a change in control [2][7]. Compliance and Governance - The company has confirmed that there are no commitments to guarantee returns to the issuance targets, nor any financial assistance provided to them [2]. - The independent directors have stated that the issuance plan complies with legal regulations and does not harm the interests of minority shareholders [5][7].

Core Viewpoint - Shandong Pharmaceutical Glass Co., Ltd. plans to issue up to 199,084,233 A-shares at a price of 16.25 yuan per share, aiming to raise no more than 3.235 billion yuan to supplement working capital, with a change in control to China National Pharmaceutical Group Corporation [2][4][6] Trading Information Summary - As of January 14, 2026, Shandong Pharmaceutical Glass closed at 21.0 yuan, up 2.24%, with a turnover rate of 4.63%, trading volume of 307,500 shares, and a transaction amount of 645 million yuan [1] - On the same day, the net inflow of main funds was 9.6426 million yuan, accounting for 1.5% of the total transaction amount, while retail investors had a net outflow of 1.5527 million yuan, accounting for 0.24% [2] Company Announcement Summary - The company’s board approved a proposal to issue shares to specific entities, which requires further approval from the shareholders' meeting, state-owned asset regulatory authorities, the Shanghai Stock Exchange, and the China Securities Regulatory Commission [2][4] - The issuance will result in a change of control, with China National Pharmaceutical Group becoming the actual controller, and the original controlling shareholder, Luzhong Investment, terminating its cooperation with China National Pharmaceutical International on January 11, 2026 [3][6] - The company has committed not to provide financial assistance or guarantees to the issuing entities and has acknowledged the potential dilution of immediate returns from this issuance [4][5] Financial and Operational Insights - The company’s previous fundraising net amount was approximately 1.842 billion yuan, with 1.141 billion yuan invested by September 30, 2025, and the investment progress is reported as normal [4][5] - The company expects to have daily related transactions with China National Pharmaceutical Group totaling 46.7 million yuan in 2026, primarily for the sale of pharmaceutical glass packaging materials [5] - The feasibility analysis report indicates that the raised funds will be used entirely to supplement working capital, enhancing capital strength, research innovation capabilities, and risk resistance [5][6]