Jiangsu Sinopep-Allsino Biopharmaceutical (688076.SH) subsidiary plans to acquire 100% equity of Sailicheng for RMB 38.65 million.

Jiangsu Sinopep-Allsino Biopharmaceutical (688076.SH) announced that its wholly-owned subsidiary, Hangzhou Allsino Biotech Co., Ltd. ("Allsino"), plans to acquire, in cash, 100% equity of Zhejiang Sailicheng Biotechnology Co., Ltd. ("Sailicheng") held collectively by Anji Xingte Enterprise Management Partnership (Limited Partnership) ("Anji Xingte"), Hangzhou Jianyi Pharmaceutical Technology Co., Ltd. ("Hangzhou Jianyi"), Pan Youyou, Pan Youming, and Wang Wensong, for a total transaction price of RMB 38.65 million. Upon completion of the transaction, Sailicheng will become a wholly-owned subsidiary of the company's subsidiary and will be included in the scope of the company's consolidated financial statements. The company's wholly-owned subsidiary, Allsino, is located at No. 18 Fenghe Road, Xiaya Town, Jiande City, Hangzhou, Zhejiang Province, and is a biopharmaceutical enterprise primarily engaged in custom R&D and production of small molecules. With the growth of downstream market demand, production capacity and site resources have become key factors constraining Allsino's order delivery and business expansion. Sailicheng's existing assets and its resources invested in API projects offer strong strategic synergy for Allsino's future capacity upgrading, and Sailicheng's geographical location is adjacent to Allsino. This acquisition will help Allsino integrate surrounding industrial resources and increase Allsino's production capacity for advanced pharmaceutical intermediates and APIs, in line with the development direction of the company's main business.