Fusen Pharmaceutical Company Limited (Stock Code: 1652) issued a supplemental announcement regarding the disposal of the entire equity interests in Henan Fusen Intelligent Energy Conservation Technology Company Limited (the Target Company). The update clarifies the basis for determining the consideration and outlines potential adjustments to the agreed purchase price.

According to the announcement, the consideration was based on a valuation conducted by an independent appraiser, Henan Jiuhe Land and Real Estate Assets Appraisal Co., Ltd., using the asset approach. This valuation determined the net asset value of the Target Company at approximately RMB73.4 million (equivalent to about HK$80.0 million) as of 31 March 2025, reflecting the value of its photovoltaic equipment and other assets minus liabilities. The appraisal and the Target Company’s reported book value showed only a negligible difference of roughly RMB0.2 million.

The announcement highlights that the consideration may be subject to downward adjustments should any liabilities exceed initial representations, or if the Target Company's assets or financial condition deviate from reliability standards during the transition period leading up to completion. These provisions are characterized as customary for transfers of equity interests in China, particularly involving state-owned parties.

Fusen Pharmaceutical Company Limited stated that the agreed terms are fair and reasonable, with no requirement for immediate adjustments based on current information. The supplemental announcement, dated 27 October 2025, builds on the original disclosure made on 19 September 2025 and emphasizes that all other information in the earlier release remains unchanged.