Shanghai Bao Pharmaceuticals Co., Ltd. (Bao Pharma) reported the repurchase of 110,900 H-shares on 22 July 2026 via on-market transactions on the Hong Kong Stock Exchange. The buyback was executed at prices ranging from HKD 17.63 to HKD 18.39, with a volume-weighted average cost of HKD 17.99 per share, bringing the total cash outlay to HKD 1.99 million.

Prior to the transaction, the company had 153.07 million issued shares (excluding treasury shares) and 1.26 million treasury shares. Following the repurchase, the issued share count declined by 0.07% to 152.96 million, while treasury shares increased to 1.37 million. Total shares outstanding, including treasury stock, remained unchanged at 154.33 million because the repurchased shares have not yet been cancelled.

The 22 July purchase forms part of a broader share-buyback mandate approved on 26 May 2026, which authorises the company to repurchase up to 15.43 million shares. To date, Bao Pharma has repurchased 1.37 million shares under this mandate, utilising 8.89% of the authorised limit. Under Hong Kong listing rules, the company is now subject to a moratorium on issuing new shares or disposing of treasury shares until 21 August 2026.