Zhitong Finance App News, Asia Pacific Pharmaceutical (002370.SZ) announced that the company and Ningbo Heyi Culture Media Co., Ltd. (“Heyi Culture”) signed the “Share Transfer Agreement on Shanghai Xingaofeng Biomedical Co., Ltd.” to transfer 100% of the company's shares in Shanghai Xingaofeng Biomedical Co., Ltd. (“Shanghai Xingaofeng”) to Heyi Culture. Since Shanghai Xingao currently has negative net assets, the share transfer price is RMB 1.

As of September 9, 2024, Shanghai Xingao's loan payable to the company was RMB 1.4568 million. According to the company's judgment, it is unlikely that all of this amount will be recovered. In order to successfully complete this equity transfer transaction, it was agreed to exempt Shanghai Xingao from debt of RMB 1.4568 million to the company. That is, after the transaction is completed, Shanghai Xingao will no longer have the aforementioned debt to the company. This debt forgiveness and equity transfer is a package deal.

According to reports, since the company has lost control of Shanghai Xingaofeng and its subsidiaries, and that Shanghai Xingaofeng and its subsidiaries are unable to resume normal operations, the core personnel involved in the CRO business have all left their jobs and the CRO business has been suspended. Its subsidiary Shanghai Xinshengyuan has been declared bankrupt by the Shanghai Pudong New Area People's Court. If the target company remains within the listed company system, it is not conducive to the optimization of the overall asset structure.