Shanghai Bao Pharmaceuticals Co., Ltd. (BAO PHARMA-B) reported a share repurchase on 8 July 2026, cancelling 0.09% of its outstanding H-share free float in a single trading session.

• Transaction details – Shares repurchased: 145,600 – Price range: HKD 19.08–19.55 per share – Volume-weighted average price: HKD 19.48 – Aggregate consideration: HKD 2.84 million

• Capital structure before and after the buyback – Outstanding H shares (ex-treasury) on 7 July 2026: 154.04 million – Treasury shares on 7 July 2026: 0.28 million – Outstanding H shares after buyback: 153.90 million – Treasury shares after buyback: 0.43 million – Total issued shares unchanged at 154.33 million

• Repurchase mandate utilisation – Mandate date: 26 May 2026 – Authorised limit: 15.43 million shares – Cumulative shares repurchased to date: 430,200 – Utilisation rate: 0.28% of the authorised limit

• Regulatory points – All repurchased shares are being held as treasury stock. – Under Hong Kong listing rules, the company cannot issue new shares or sell treasury shares until 7 August 2026, 30 days after the latest repurchase.

The board confirmed that the transaction complied with Hong Kong Stock Exchange regulations and the terms of the existing repurchase mandate.