Zhijing Finance and Economics APP News, Shanxi C&Y Pharmaceutical Group (300254.SZ) announced that on November 25, 2024, the 23rd meeting of the 5th board of directors of the company approved the "Resolution on Establishing a Wholly-owned Subsidiary". The company plans to invest self-owned funds to establish a wholly-owned subsidiary "Shanxi C&Y Pharmaceutical (Shanghai) Research and Development Co., Ltd." (the final company name is subject to the registration results approved by the market supervision department), with a registered capital of RMB 10 million.

The establishment of a wholly-owned subsidiary this time is based on the company already obtaining multiple approvals for the research and development of high-quality narcotic drugs. The establishment of a wholly-owned research and development subsidiary this time is to better introduce high-end research and development talents, accelerate the research and development of new products in the category of high-quality narcotic drugs, and enhance the company's core competitiveness and sustainable development capabilities.