Buchang Pharmaceuticals and its wholly-owned subsidiary intend to acquire 100% equity of Beijing Chengrui

On October 15, Buchang Pharmaceutical issued an announcement stating that in order to meet Buchang Pharmaceutical’s future business development needs, promote the smooth implementation of the company’s overall strategy, enhance the company’s overall operating environment and external image, and realize the company’s planning, the company and its wholly-owned subsidiaries Shenzhou Pharmaceutical plans to acquire 100% equity of Beijing Chengrui

details as follows:

1.

The equity transfer payment for the acquisition is 20,444,121.

2.

3.

The company issued a notice of the sixth meeting of the fourth board of directors on October 11, 2021, and was convened by communication at 13:00 on October 14, 2021.

The acquisition does not constitute a major asset reorganization as required by the Measures for the Administration of Major Asset Reorganizations of Listed Companies, nor does it constitute a connected transaction