Baiyushan PH (00874) announced that on March 13, 2026, the company received a no-objection letter from the Shanghai Stock Exchange (SSE) forwarded by Industrial Securities Asset Management Co., Ltd. The letter confirms that the asset-backed securities for the Xingzheng Yuanrong-Guangzhou Pharmaceutical Receivables Phases 5-9 Special Asset-Backed Plan meet the SSE's listing requirements, and the exchange has no objection to their listing and transfer. The asset-backed securities will be issued in multiple tranches, adopting a non-renewable issuance structure, with a total issuance amount not exceeding RMB 3 billion. The first tranche must be completed within 12 months from the date of the no-objection letter. The letter remains valid for 24 months from its issuance date.