Biopharmaceutical company Hutchmed (China) has agreed to sell shares of a subsidiary Medical Care company for approximately 0.608 billion USD to raise funds and focus on core Business. According to a statement disclosed by the company on Wednesday on HKEX, Hutchmed (China) will sell a total of 45% of its interests in Shanghai Hutchmed to Jinfeng Health and SH PHARMA. The statement indicated that SH PHARMA currently holds 50% of the shares in Shanghai Hutchmed, and after the transaction is completed, it will hold 60% of the interests. If Shanghai Hutchmed does not meet certain profit thresholds, Hutchmed (China) will need to compensate the buyer for profits. Hutchmed (China) stated in the announcement that this transaction is expected to record approximately 0.477 billion USD in pre-tax earnings, which will be used to promote the development of core Business, including targeted therapies for treating cancer and autoimmune diseases.