Zhitong Finance App News, Baiyunshan (00874) announced that on November 9, 2026, the board of directors approved a matter for Guangzhou Pharmaceutical (a subsidiary of the company) to introduce strategic investors and implement targeted stock issuance through a public listing on the Guangzhou Property Exchange. The capital increase and share expansion plan will attract no more than 15 investors, the issue price will not be less than RMB 3.46 per share, and the targeted issuance of no more than 1,734 billion shares will be issued. The estimated amount raised will not exceed RMB 6 billion.
According to Guangzhou Pharmaceutical's statutes, the company does not enjoy priority subscription rights for this capital increase and stock expansion. After the capital increase and share expansion is completed, the company's equity in Guangzhou Pharmaceutical will be diluted from 90.92% to no less than 53.23%. The company is still the controlling shareholder of Guangzhou Pharmaceutical, which will not cause changes in the scope of the company's consolidated statements.
The total amount of capital raised in this capital increase and stock expansion is not more than RMB 6 billion. Guangzhou Pharmaceutical plans to use no more than 5.5 billion yuan of capital raised to repay bank loans, and plans to use no more than 500 million yuan of capital raised to supplement working capital; if the actual amount raised is less than 6 billion yuan, priority will be given to supplementary working capital, and the remaining amount will be used to repay bank loans.