Shanghai Bao Pharmaceuticals Co., Ltd. (Bao Pharma) disclosed a next-day return showing an on-market repurchase of 137,300 H-shares on 7 July 2026.

• Transaction details: Shares were bought back on the Hong Kong Stock Exchange at prices ranging from HKD 18.64 to HKD 19.19, for a volume-weighted average cost of HKD 18.94 per share. The aggregate consideration was HKD 2.60 million.

• Capital structure impact: The repurchase reduced issued share capital (excluding treasury shares) from 154.18 million to 154.04 million, a marginal decrease of 0.09%. Treasury shares doubled from 147,300 to 284,600, keeping total issued shares unchanged at 154.33 million.

• Mandate utilisation: The buy-back forms part of the mandate approved on 26 May 2026, which authorises repurchases of up to 15.43 million shares. Cumulative purchases under this mandate now stand at 284,600 shares, representing 0.18% of the company’s issued shares on the mandate date.

• Post-repurchase restrictions: In line with HKEX rules, Bao Pharma is subject to a moratorium on issuing new shares or selling treasury shares until 6 August 2026.

Executive Director Liu Yanjun confirmed that the repurchase complied with all applicable listing rules and regulatory requirements.