Shanghai Pharmaceuticals Holding Co., Ltd. (02607) announced that on 30 October 2025, it entered into a new Procurement Framework Agreement with The Wing Fat Printing Company, Limited. The agreement covers the supply of printed packaging materials for pharmaceutical products from 1 January 2026 to 31 December 2026.

According to the announcement, the highest applicable percentage ratio for the transaction exceeds 0.1% but remains below 5%. As a result, the arrangement qualifies as a continuing connected transaction under Chapter 14A of the Listing Rules, mandating reporting, annual review, and announcement requirements, yet exempt from circular and independent shareholders’ approval.

Historical transaction amounts for the procurement of similar materials from Wing Fat Printing reached approximately RMB61,959,800 for the year ending 31 December 2024 and about RMB44,610,700 for the nine months ended 30 September 2025. The new annual cap for 2026 has been set at RMB90,000,000, based on the Group’s anticipated needs and past procurement figures.

The company’s board of directors believes the agreement supports business continuity and secures a reliable supply of printed packaging materials. The announcement emphasizes that the agreement’s terms reflect arm’s-length negotiations, adhere to prevailing market prices, and align with standard commercial practices.