CHINARES PHARMA (03320) has announced that its wholly-owned subsidiary, China Resources Pharmaceutical Investment Co., Ltd., has initiated a potential sale of approximately 17.87% of its stake in Hefei Tianmai Biotech Development Co., Ltd. The divestment will be conducted through a public listing on the Shanghai United Assets and Equity Exchange, with a minimum listing price set at approximately RMB 1.42 billion. As of the announcement date, CHINARES PHARMA's subsidiary and its affiliates hold less than a 30% stake in Tianmai Biotech.