Wuhan YZY Biopharma Co., Ltd. (Stock Code: 2496) entered into a transfer agreement on January 23, 2026, with Wuhan Yiruide Medical Treatment Equipment New Technology Co., Ltd. to dispose of a land use right and an associated building for approximately RMB36.88 million. This step constitutes a discloseable transaction under Chapter 14 of the Listing Rules, given that the highest applicable percentage ratio is above 5% but below 25%.
According to the agreement, Wuhan Yiruide will acquire the land use right, which covers about 25,533.4 square meters in the East Lake New Technology Development Zone in Wuhan, and a building with a gross floor area of about 11,333.22 square meters. The land use right is valid for 50 years, expiring on May 24, 2062. The consideration includes RMB14.8 million for the land use right, RMB16.08 million for the building, and a construction cost of up to RMB6 million to meet investment intensity requirements. Payment will be settled in three tranches tied to construction completion, the transfer of title certificates, and construction progress milestones.
The consideration was agreed upon after arm’s-length negotiations and with reference to valuations performed by an independent valuer in April 2025. The land use right was valued using the market approach, while the building was valued using the cost approach, resulting in an appraised combined value of around RMB26.92 million. The Board expects an unaudited net gain of approximately RMB80,147 from this transaction, subject to final confirmation at completion. The proceeds are planned as general working capital and to support future business development opportunities.
Wuhan Yiruide specializes in research-related products in the fields of brain-computer interface and neuromodulation technology, including Transcranial Magnetic Stimulation, functional near-infrared spectroscopy systems, and related innovations. Upon completion of the transaction, Wuhan YZY Biopharma will cease to hold any interest in the transferred land use right and building.