Tianjin Pharmaceutical Da Ren Tang Shareholders Approve Disposal of Remaining 12% Stake in Tianjin TSKF at First EGM for FY2025
Summary:
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Date & Venue: The 1st Extraordinary General Meeting (EGM) for FY2025 was held on 9 June 2025 at Da Ren Tang Mansion in Tianjin and simultaneously via video conference in Singapore.
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Chair: Ms. Wang Lei, Chairman of the Board, presided over the meeting.
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Resolution Passed: Shareholders approved the proposed disposal of the remaining 12% equity interest in Tianjin TSKF Pharmaceutical Co., Ltd. to Haleon China Co., Ltd. and Haleon CH SARL.
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Vote results: 99.82% in favor, 0.16% against, and 0.02% abstained.
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Legal Compliance: The PRC legal counsel confirmed the EGM was legally convened, with legitimate procedures and valid voting.
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Shareholder Q&A Highlights:
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Addressed concerns over the 33% premium above appraised value, explaining the implied PE of ~13.5x was in line with global peers.
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Clarified that the disposal would reduce earnings by ~RMB140 million (FY2024’s investment income), but proceeds would strengthen core business and fund future strategic investment
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