Extrawell Pharmaceutical Holdings Limited (Extrawell Pharma) has formally cancelled the memorandum of understanding (MOU) covering a prospective sale of its convertible bonds.

The company entered into the MOU with an unnamed potential purchaser on 27 March 2026, aiming to explore a possible transaction involving convertible bonds. According to the board, discussions failed to achieve the expected progress, prompting the decision to discontinue talks.

On 16 October 2026, Extrawell Pharma issued a written termination notice to the counterparty, rendering the MOU void with immediate effect. All rights and obligations outlined in the document have ceased.

Management stated that ending the MOU will not materially affect the group’s financial position or business operations.

The board currently comprises five executive directors—Dr. Xie Yi (Chairman), Dr. Guo Yi, Mr. Cheng Yong, Ms. Wong Sau Kuen and Mr. Wu Xiangyun—and three independent non-executive directors: Ms. Jin Song, Dr. Zeng Li and Ms. Yang Xiaorong.