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CHINA PIONEER PHARMA HOLDINGS LIMITED ʕ㵤ቜ䕄䕥છٰϞࠢʮ̡
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 01345)
DISCLOSEABLE TRANSACTIONS
WEALTH MANAGEMENT PRODUCT AND STRUCTURED DEPOSIT
WEALTH MANAGEMENT PRODUCT
On 22 July 2020 and 5 November 2020, Chongqing Pioneer, a wholly-owned subsidiary of the Company, entered into agreements with the Bank for subscriptions to its Wealth Management Products with an amount of RMB10 million and RMB40 million, respectively.
STRUCTURED DEPOSIT
On the date of this announcement, Chongqing Pioneer entered into the Structured Deposit with the Bank with an amount of RMB30 million.
LISTING RULES IMPLICATIONS
For each of the subscriptions to the Wealth Management Product on 22 July 2020 and 5 November 2020 and the Structured Deposit on stand-alone basis and for the aggregate of the subscriptions to the Wealth Management Product on 22 July 2020 and 5 November 2020, all applicable percentage ratios (as defined under Rule 14.07 of the Listing Rules) are below 5%.
For the aggregate of the subscriptions to the Wealth Management Product on 22 July 2020 and 5 November 2020 and the Structured Deposit, one or more of the applicable percentage ratios exceeds 5% but all of the ratios are below 25%. As such, the transactions thereunder constitute discloseable transactions of the Company and are subject to notification and announcement requirements under Chapter 14 of the Listing Rules.
On 22 July 2020 and 5 November 2020, Chongqing Pioneer, a wholly-owned subsidiary of the Company, entered into agreements with the Bank for subscriptions to its Wealth Management Products with an amount of RMB10 million and RMB40 million, respectively.
On the date of this announcement, Chongqing Pioneer entered into the Structured Deposit with the Bank with an amount of RMB30 million.
The funds for the Wealth Management Product and the Structured Deposit are funds not immediately in use from the internal resources of the Company, which were put into subscription and deposit having taken into account the operation and businesses of the Group, the requirements for funds in the immediate future and the commercial benefits of the Wealth Management Product and the Structured Deposit and in accordance with the Bank's product specifications thereof.
WEALTH MANAGEMENT PRODUCT
Term: | no fixed term and redeemable on demand at the discretion of |
the subscriber | |
Type: | fixed income, open-ended, non principal-guaranteed, floating |
return | |
Risk level assessment by | low |
the Bank: | |
Expected return: | one-year fixed deposit interest rate as announced by the |
People's Bank of China | |
Investment scope of the | assets in compliance with regulatory requirements including |
product: | without limitation cash, bank deposits of term within one |
year, bond repurchase, central bank bills, interbank deposit | |
certificate, bonds with remaining period within 397 days, | |
asset-backed securities, non-financial corporate debt financing | |
instruments and other money market instruments with good | |
liquidity recognized by the banking regulatory agency |
STRUCTURED DEPOSIT | |
Term: | 10 to 31 March 2021 |
Deposit link and expected | The deposit is linked to the EUR/USD rate as shown on BFIX: |
annualised rate of return: | Bloomberg FX Fixings at 11:00 Tokyo time every day, with an |
expected annualised rate of return ranging from 0.8% to 2.6%, | |
payable to the depositors with the principal on maturity | |
Type: | principal-guaranteed floating interest rate |
Risk level assessment by | low |
the Bank: | |
Termination and | Depositors have no right of early termination or early |
Redemption: | redemption. The Bank may terminate prior to maturity. |
REASONS FOR AND BENEFITS OF THE TRANSACTIONS
Taking into account the flexible redemption term of the Wealth Management Product, the short term of time of the Structured Deposit and the Bank's being a reputable bank with track record and listed on the Stock Exchange and the Shanghai Stock Exchange, the risk profiles of abovementioned transactions with the Bank are considered as limited. The deployment of funds onto subscription to regulated products issued by the Bank and depositing with the Bank for steady, healthy returns evinces the Company's commitment to a reasonable and efficient management of its funds and pursuit of greater value of the Shares for the Shareholders, and the flexible redemption terms of the Wealth Management Product and the short term of the Structured Deposit allow the Company to meet its needs if other business opportunities arise.
The Board considers that the terms and the transactions contemplated under the Wealth Management Product and the Structured Deposit are fair and reasonable, on normal commercial terms and are in the interests of the Company and the Shareholders as a whole.
THE PARTIES
The Company is an investment holding company and its subsidiaries are primarily engaged in the business of providing comprehensive marketing, promotion and channel management services dedicated to imported pharmaceutical products and medical devices in China.
Chongqing Pioneer is a company established in the PRC with limited liability and a wholly-owned subsidiary of the Company principally engaged in the sale of in-licensed medicines.
The Bank is a joint stock company established in the PRC with limited liability and with principal businesses in banking including retail banking, corporate banking and treasury operation.
To the best of the knowledge, information and belief and having made all reasonable enquiries, it is confirmed that the Bank and its ultimate beneficial owners are third parties independent of the Group and its connected persons.
LISTING RULES IMPLICATIONS
For each of the subscriptions to the Wealth Management Product on 22 July 2020 and 5 November 2020 and the Structured Deposit on stand-alone basis and for the aggregate of the subscriptions to the Wealth Management Product on 22 July 2020 and 5 November 2020, all applicable percentage ratios (as defined under Rule 14.07 of the Listing Rules) are below 5%.
For the aggregate of the subscriptions to the Wealth Management Product on 22 July 2020 and 5 November 2020 and the Structured Deposit, one or more of the applicable percentage ratios exceeds 5% but all of the ratios are below 25%. As such, the transactions thereunder constitute discloseable transactions of the Company and are subject to notification and announcement requirements under Chapter 14 of the Listing Rules.
DEFINITIONS
Unless the context otherwise requires, the following expressions shall have the following meanings:
"Bank"
China Everbright Bank Company Limited, a company established in the PRC with limited liability, the shares of which are listed on the Stock Exchange (stock code: 6818) and the Shanghai Stock Exchange (stock code: 601818)
"Board" the board of Directors of the Company
"Chongqing Pioneer" Chongqing Pioneer Pharma Co. Ltd* (ࠠᅅቜᔼᖹϞࠢʮ̡), a company established in the PRC with limited liability and a wholly-owned subsidiary of the Company
"Company"
China Pioneer Pharma Holdings Limited (ʕ㵤ቜ䕄䕥છٰϞࠢʮ ̡), an exempted company incorporated with limited liability under the laws of the Cayman Islands, with its Shares listed on the Main Board of the Stock Exchange
"Director(s)" the director(s) of the Company
"Group" | the Company and its subsidiaries |
"Listing Rules" | the Rules Governing the Listing of Securities on the Stock Exchange |
"PRC" | the People's Republic of China |
"RMB" | Renminbi, the lawful currency of the PRC |
"Share(s)" | ordinary share(s) of nominal value US$0.01 each in the share capital |
of the Company | |
"Shareholder(s)" | holder(s) of Share(s) |
"Stock Exchange" | The Stock Exchange of Hong Kong Limited |
"Structured Deposit" | the structured deposit entered into between Chongqing Pioneer and |
the Bank on the date of this announcement | |
"Wealth Management | China Everbright Bank Yangguangbi Jigouying* (EB1669) (ʕΈ |
Product" | ɽვБජΈ၀ዚޮ (EB1669)) |
By order of the Board
China Pioneer Pharma Holdings Limited
Li Xinzhou
Chairman
Hong Kong, 10 March 2021
As at the date of this announcement, the Directors are Mr. LI Xinzhou, Mr. LUO Chunyi and Mr. XIAO Guoguang as executive Directors, Mr. WU Mijia and Ms. HU Mingfei as non-executive Directors and Mr. ZHANG Hong, Mr. WONG Chi Hung, Stanley and Mr. WANG Yongli as independent non-executive Directors.
*
For identification purpose only
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China Pioneer Pharma Holdings Ltd. published this content on 10 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 March 2021 10:50:04 UTC.