Beijing SL PHARM Co., Ltd. announced that its associate company Changfeng Pharmaceutical Co., Ltd. is expected to be listed on the main board of the Hong Kong Stock Exchange on October 8, 2025, with the stock code 02652.HK. A total of 41.198 million shares will be globally offered at a price of HKD 14.75 per share. Upon completion of the offering, SL PHARM will hold 15.165653 million shares of Changfeng Pharmaceutical, expected to account for 3.68% of the total shares after issuance, with a lock-up period of 12 months. According to regulations, SL PHARM will classify its equity in Changfeng Pharmaceutical as related financial assets. The listing of Changfeng Pharmaceutical is expected to have a positive impact on SL PHARM's financial and operational results in 2025, subject to the audit results, and investors are reminded to pay attention to risks