Sihuan Pharm (00460.HK) announced the proposal to spin off Xuan Zhu Biomedical for independent listing of its H shares on the main board of the stock exchange. The stock exchange has confirmed that the company can proceed with the proposed spin-off. Xuan Zhu Biomedical intends to issue its H shares through a global offering, with details of the offering yet to be finalized.

Sihuan Pharm stated that as of yesterday (25th), it indirectly holds 56.47% of Xuan Zhu Biomedical's shares. According to the plan, after the proposed spin-off and listing are completed, Xuan Zhu Biomedical will remain a subsidiary of Sihuan Pharm. Xuan Zhu Biomedical submitted its application form to the stock exchange yesterday, applying for the listing and trading of the H shares after the spin-off.