DAWNRAYS PHARMA (02348) plans to invest 100 million yuan to establish a partnership enterprise for equity investment in the fields of medicine, biotechnology, and medical health.

DAWNRAYS PHARMA (02348) announced on June 18, 2026, that Suzhou Dongrui (a wholly-owned subsidiary of the company) (as a limited partner), Zhongjianxin (as a limited partner), and Shanghai Jianxin (as a general partner) have entered into a limited partnership agreement. According to this agreement, the parties have agreed to establish a partnership enterprise, with Suzhou Dongrui committing to a maximum capital contribution of up to RMB 100 million, equivalent to 50% of the proposed capital of the partnership enterprise. The provisional name of the partnership enterprise is proposed to be Shanghai Jianxin Dongrui Biopharmaceutical Venture Capital Fund Partnership Enterprise (Limited Partnership), subject to registration with the relevant government authorities. The purpose and investment objective of the partnership enterprise are to engage in equity investments (including through convertible debt instruments) and/or other investments, focusing primarily on the pharmaceutical, biotechnology, and medical health sectors (unless approved separately by two-thirds of the partners at a partner meeting), in order to achieve good investment returns for the partners. The board of directors noted that this investment would allow the group to leverage and benefit from the general partner's track record and connections in the biopharmaceutical field, as well as their professional investment team. This investment not only has the potential to generate returns through investments in pharmaceuticals, biotechnology, and healthcare, but also provides an opportunity to establish connections with invested companies for potential business cooperation with the group (such as expanding the group's product pipeline or acquiring new technologies that may benefit the group), opportunities that the group might not have otherwise had access to. The board of directors also noted that Zhongjianxin, as the controlling shareholder of the general partner, has committed to 50% of the capital contribution of the partnership enterprise, ensuring alignment of interests between the general partner group and the group. In this context, the board considers the committed capital contribution of the group (approximately 2.5% of the group's total assets as of December 31, 2025, or 8.6% of the group's cash and bank deposits) to be in line with market practice and in the overall interest of the company and shareholders.