On 28 October 2025, the board of directors of Shanghai Fosun Pharmaceutical (Group) Co., Ltd.* (Fosun Pharma, Stock Code: 02196) approved a plan for the spin-off listing of Fosun Adgenvax (Chengdu) Biopharmaceutical Co., Ltd.* (Fosun Adgenvax) on The Stock Exchange of Hong Kong Limited. Fosun Adgenvax was established in July 2012 and is currently 70.08% owned by a Fosun Pharma subsidiary, with 17 other shareholders holding a combined 29.92% stake.

Fosun Adgenvax and its subsidiaries focus on research, development, production, and sales of vaccines for human use, having built technical platforms for both bacterial and viral vaccines. Several self-developed products—including rabies vaccines (Vero cell) for human use, trivalent and quadrivalent influenza virus lysate vaccines—are already marketed in Chinese mainland, and others are at various clinical trial stages. The planned spin-off is at a preliminary phase with no assurance on its final timetable or completion, and shareholders are advised to exercise caution when dealing in Fosun Pharma securities.