SHANGHAI FUSTAR PHARMACEUTICALS (GROUP) CO., LTD. (HEREINAFTER REFERRED TO AS “FUSTAR PHARMACEUTICALS”) ANNOUNCED ON 31 MAY 2024 THAT ITS SUBSIDIARY SUZHOU XING FUTURE FUND HAS ENTERED INTO AN A2 ROUND OF CAPITAL INCREASE AGREEMENTS WITH ITS SUBSIDIARY SUZHOU XING FUTURE FUND AND INDEPENDENT THIRD PARTY MANGROVE INVESTMENT AND PULING BIOLOGICS, WITH A TOTAL CAPITAL OF RMB 16,833,333 FOR THE RECOGNITION OF NEW NOTES ON PYP LING BIO Book capital RMB 1,230,506.79. Of these, Suzhou Star Future Fund invested RMB 7,500,000. At the same time, another subsidiary of Fustar Pharmaceuticals, Shanghai Futo, gave up its priority subscription right to add registered capital to Pling Biologics. After the completion of this funding increase, Fustar Pharmaceuticals Group's holding in Pling Biologics will increase from 10.65% to 12.60%. Pling Biology is...Show More

SHANGHAI FUSTAR PHARMACEUTICALS (GROUP) CO., LTD. (HEREINAFTER REFERRED TO AS “FUSTAR PHARMACEUTICALS”) ANNOUNCED ON 31 MAY 2024 THAT ITS SUBSIDIARY SUZHOU XING FUTURE FUND HAS ENTERED INTO AN A2 ROUND OF CAPITAL INCREASE AGREEMENTS WITH ITS SUBSIDIARY SUZHOU XING FUTURE FUND AND INDEPENDENT THIRD PARTY MANGROVE INVESTMENT AND PULING BIOLOGICS, WITH A TOTAL CAPITAL OF RMB 16,833,333 FOR THE RECOGNITION OF NEW NOTES ON PYP LING BIO Book capital RMB 1,230,506.79. Of these, Suzhou Star Future Fund invested RMB 7,500,000. At the same time, another subsidiary of Fustar Pharmaceuticals, Shanghai Futo, gave up its priority subscription right to add registered capital to Pling Biologics. After the completion of this funding increase, Fustar Pharmaceuticals Group's holding in Pling Biologics will increase from 10.65% to 12.60%. Pling Biology is primarily engaged in the development of fourth-generation antibody dopplinated drugs (ADCs). Under the Hong Kong Listing Rules, as Fustar Pharmaceutical Holdings shareholders hold more than 10% of the assets of the Suzhou Star Futures Fund, this waiver of the priority subscription constitutes a connected transaction, but is therefore exempt from compliance with the requirement of independent shareholder approval as the maximum applicable percentage after the merger calculation is less than 5%.