According to Lanfan Medical's announcement, the cardiovascular and cerebrovascular business entity Lanfan Baisheng will introduce 4 strategic investors and raise 1 billion yuan in 2024. Due to failure to complete the listing on the new Third Board before March 31, 2026, the repurchase conditions have already been triggered; Lanfan Medical plans to transfer a total of 16.3934% of the investors' shares. The price is calculated based on 10% simple interest annualized on the investment principal, which will be settled by June 30, 2027 at the latest. According to Tianyan Research, Beijing Lanfan Baisheng Medical Technology Co., Ltd. currently has 11 direct shareholders. The 4 external investors hold a total of 16.3934% of the shares; the remaining 83.61% of the shares are distributed under the names of Blue Sail Medical and 6 Blue Sail companies, of which Blue Sail directly holds 52.6713% of the shares. If there are no other equity transaction arrangements, after the repurchase is completed, Lanfan Baisheng will change from “7 Blue Sails entities and 4 external funds” to full control of the group; however, full capital does not equal direct ownership by a single shareholder, and the shares will still be registered under the names of multiple Blue Sails entities.

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