Shanghai Fosun Pharmaceutical (HKG:2196, SHA:600196) and a subsidiary agreed to dispose of their stake in Jinan Fujian Partnership to Shanghai Fujian, according to a Shanghai bourse filing on Tuesday.

Fosun will transfer its subscribed 7 million yuan interest in the partnership fund for 1.1 million yuan, while its subsidiary, Fosun Pingyao, will transfer its 1 million yuan stake for 150,000 yuan.

After the transaction, the company will no longer own any equity in Jinan Fujian.

The pharmaceutical company's Hong Kong shares dropped 4%, while Shanghai shares fell nearly 2% during the afternoon trade.