Hangzhou Tigermed Consulting : (1) PROPOSED PARTIAL REPURCHASE AND CANCELLATION OF THE 2019 RESTRICTED A SHARES; (2) PROPOSED CHANGE OF THE REGISTERED CAPITAL OF THE COMPANY; (3) PROPOSED CHANGE OF THE REGISTERED ADDRESS OF THE COMPANY; AND (4) PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

HANGZHOU TIGERMED CONSULTING CO., LTD.

杭 州 泰 格 醫 藥 科 技 股 份 有 限 公 司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 3347)

1. PROPOSED PARTIAL REPURCHASE AND CANCELLATION OF THE 2019 RESTRICTED A SHARES;
2. PROPOSED CHANGE OF THE REGISTERED CAPITAL OF THE COMPANY;
3. PROPOSED CHANGE OF THE REGISTERED ADDRESS OF THE COMPANY; AND
4. PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION

Reference is made to the 2019 Restricted Share Incentive Scheme (Draft) (the "Incentive Scheme (Draft)") of Hangzhou Tigermed Consulting Co., Ltd. (the "Company") which became effective on April 10, 2019, as disclosed in the prospectus dated July 28, 2020 of the Company (the "Prospectus"). Unless the context requires otherwise, capitalised terms used herein shall have same meanings as those defined in the Prospectus.

The board (the "Board") of directors (the "Directors") of the Company hereby announces that, on August 28, 2020, at the fifth meeting of the fourth session of the Board, the Board resolved and approved, among others: (i) proposed partial repurchase and cancellation of the 2019 restricted A Shares; (ii) proposed change of the registered capital of the Company; (iii) proposed change of the registered address of the Company; and (iv) proposed amendments to the articles of association of the Company (the "Articles of Association").

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PROPOSED PARTIAL REPURCHASE AND CANCELLATION OF THE 2019 RESTRICTED A SHARES

The Resolution on the Partial Repurchase and Cancellation of the 2019 Restricted Shares was approved at the fifth meeting of the fourth session of the Board and the fourth meeting of the fourth session of the Supervisory Committee convened on August 28, 2020, pursuant to which, the Company will repurchase and cancel a total of 71,260 restricted Shares granted but not yet unlocked to 7 incentive participants who have resigned and not met the incentive conditions. None of the above 7 incentive participants is a connected person as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). The relevant matters are described as follows:

1. Reasons for, Number of, Price of and Source of Funds for the Partial Repurchase and Cancellation of the Restricted Shares
2. 1. Reasons for the Partial Repurchase and Cancellation of the Restricted Shares

As of the date of the fifth meeting of the fourth session of the Board of the Company, 7 incentive participants resigned due to personal reasons. According to the provisions of Chapter 13 "Handling Unusual Changes to the Company/Incentive Participants" under the Incentive Scheme (Draft), where an incentive participant leaves the Company due to resignation, expiry of labour contract or dismissal, the Board may decide that the restricted Shares granted to the incentive participants but not yet unlocked under the scheme shall not be released from the selling restrictions and shall be repurchased and cancelled by the Company.

According to the resolution of the 2019 second extraordinary general meeting of the Company and the Incentive Scheme (Draft), the Company shall repurchase the restricted Shares granted to the aforesaid 7 incentive participants who have resigned but not yet unlocked at the repurchase price of RMB26.55 per share as adjusted after the completion of the 2018 equity distribution plan.

1. Number and Price of the Restricted Shares subject to the Repurchase and Cancellation

According to the Resolution on the Partial Repurchase and Cancellation of the 2019 Restricted Shares considered and approved at the fifth meeting of the fourth session of the Board of the Company, the Incentive Scheme (Draft) and as confirmed by the Company and verified by the lawyers, 71,260 restricted Shares have been granted to 7 incentive participants but not yet unlocked, and the number of restricted Shares to be repurchased and cancelled is 71,260 shares. The repurchase price of the restricted Shares of the Company granted to the aforesaid 7 incentive participants but not yet unlocked is RMB26.55 per share.

(III) Source of funds for the Repurchase and Cancellation of the Restricted Shares

All funds used by the Company for the repurchase are self-owned funds of the Company.

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1. Changes of the Shareholding Structure of the Company after the Repurchase and Cancellation

Nature of shares	Before the change	Change	After the change
	Number of shares	Proportion (%)	(Share)	Number of shares	Proportion (%)
	(Share)			(Share)

1. Circulating shares subject to

selling restrictions	208,570,464	24.35	-71,260	208,499,204	24.34
Locked shares held by
senior management	203,976,854	23.81	0	203,976,854	23.82
Restricted shares under
the incentive scheme	4,593,610	0.54	-71,260	4,522,350	0.53

1. Circulating shares not subject to

	selling restrictions	647,950,186	75.65	0	647,950,186	75.66
	RMB ordinary shares (A shares)	540,885,086	63.15	0	540,885,086	63.15
	Overseas-listed foreign shares (H shares)	107,065,100	12.50	0	107,065,100	12.50
III.	Total number of shares	856,520,650	100	-71,260	856,449,390	100

III. Effect of the Repurchase and Cancellation on the Company

The repurchase and cancellation will not have any material impact on the financial position and operating results of the Company without prejudice to the interests of the Company and its shareholders ("Shareholders"). The management of the Company will continue to work diligently and strive to create value for Shareholders.

IV. Opinions of Independent Non-Executive Directors

The independent non-executive Directors unanimously agreed that the Company shall repurchase and cancel the restricted Shares granted to 7 incentive participants who have resigned but not yet unlocked in accordance with the relevant provisions of the Administrative Measures on Share Incentives of Listed Companies (the "Administrative Measures") and the Incentive Scheme (Draft). The partial repurchase and cancellation of the restricted Shares by the Company are in compliance with the relevant requirements of the Company Law, the Administrative Measures and other laws and regulations. The procedures of consideration and approval are legal and compliant, and will not have any material impact on the financial position and operating results of the Company, nor prejudice the interests of the Company and the Shareholders.

1. Opinions of Supervisory Committee
   Upon verification, the Supervisory Committee is of the view that, as of the date of the meeting, 7 incentive participants who have resigned were no longer qualified for the incentives, and a total of 71,260 restricted Shares granted to them which have not been released from selling restrictions shall be repurchased and cancelled. In accordance with the relevant provisions of the Incentive Scheme (Draft) and the authorisation of the 2019 first extraordinary general meeting of the Company, the Board considered that the procedures for the partial repurchase and cancellation of the restricted Shares are in compliance with the laws and regulations and the relevant provisions of the Incentive Scheme (Draft). Therefore, we unanimously agreed with the Board to proceed with the matters in relation to the partial repurchase and cancellation of the restricted Shares.

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VI. Conclusion of the Legal Opinion

Jia Yuan Law Offices are of the view that the repurchase and cancellation has obtained the necessary authorisation and approval at the current stage, which is in compliance with the relevant provisions of the Administrative Measures and the Incentive Scheme (Draft). The repurchase and cancellation is subject to the approval at the general meeting of the Company. The reasons for, number of and price of the repurchase and cancellation are in compliance with the relevant provisions of the Administrative Measures and the Incentive Scheme (Draft) and are legal and valid.

The resolution on the partial repurchase and cancellation of the restricted Shares is subject to the consideration and approval at the general meeting, the A share class meeting and the H share class meeting of the Company.

PROPOSED CHANGE OF THE REGISTERED CAPITAL OF THE COMPANY

Given that 7 incentive participants under the 2019 Restricted Share Incentive Scheme of the Company have resigned and are no longer qualified for the incentives, the Company shall repurchase and cancel 71,260 restricted Shares granted to the aforesaid incentive participants but not yet unlocked. Pursuant to the relevant requirements of the Company Law and the Articles of Association, the registered capital of the Company and the total number of shares of the Company shall be changed as a result of the repurchase and cancellation above. The total number of shares of the Company will be reduced from 856,520,650 shares to 856,449,390 shares and the registered capital of the Company will be reduced from RMB856,520,650 to RMB856,449,390. As a result of the changes of the registered capital of the Company above, the Board proposed to change the registered capital of the Company from RMB856,520,650 (divided into 856,520,650 shares) to RMB856,449,390 (divided into 856,449,390 shares).

The proposed change of the registered capital of the Company is subject to approval of the special resolution by the Shareholders at the 2020 fifth extraordinary general meeting of the Company (the "EGM").

PROPOSED CHANGE OF THE REGISTERED ADDRESS OF THE COMPANY

Based on the needs of the Company's operation and development, the Board proposed to change the existing registered address of the Company in China from "1502-1, Dongguan Plaza, No.

618 Jiangnan Avenue, Binjiang District, Hangzhou" to "Room 2001-2010, 20/F, Block 8, No. 19 Jugong Road, Xixing Sub-District, Binjiang District, Hangzhou".

The change of the registered address of the Company involves the amendments to the Articles of Association, which are subject to the consideration by the Shareholders at the EGM. The proposed change of the registered address and the amendments to the corresponding provisions of the Articles of Association of the Company are subject to the final approval by the relevant administration for industry and commerce.

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PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION

In view of the changes of the registered capital and registered address of the Company and for the purpose of improving the corporate governance of the Company, the Board proposed to make the following amendments to the relevant provisions of the Articles of Association:

Original articles	Amended articles
Article 5 Company address: 1502-1,	A r t i c l e 5	C o m p a n y a d d r e s s : R o o m
Dongguan Plaza, No. 618 Jiangnan Avenue,	2001-2010, 20/F, Block 8, No. 19 Jugong
Binjiang District, Hangzhou	Road, Xixing Sub-District,1502-1,Dongguan
	Plaza, No. 618 Jiangnan Avenue,Binjiang
Postal code: 310053	District, Hangzhou
Telephone no.: [phone]	Postal code: 310053310051
Fax no.: [phone]	Telephone no.: [phone]
	Fax no.: [phone]
Article 6 The registered capital of the	Article 6 The registered capital of the
Company is RMB856,520,650.	Company is RMB856,520,650856,449,390.
Article 8 The Company's legal representative	Article 8 The Company's legal representative
is the chairman of the board of directors or the	is the chairman of the board of directors orthe
general manager of the Company.	general manager of the Company.
Article 22 The Company was approved by	Article 22	The Company was approved by
the CSRC on July 3, 2012 to conduct initial	the CSRC on July 3, 2012 to conduct initial
public offering of 13.40 million RMB ordinary	public offering of 13.40 million RMB ordinary
shares (hereinafter referred to as the "A	shares (hereinafter referred to as the "A
Shares").	Shares").
The Company issued 107,065,100 H Shares	T h e C o m p a n y i s s u e d 1 0 7 , 0 6 5 , 1 0 0 H
to overseas investors on June 22, 2020	S h a r e s t o	o v e r s e a s i n v e s t o r s	o n J u n e
upon approval of the CSRC . After the	22, 2020 upon approval of the CSRC .
abovementioned issuance, the total number	After the abovementioned issuance, the
of shares of the Company is 8,565,206.50	total number of shares of the	Company
million, all being ordinary shares, including	i s 8 , 5 6 5 , 2 0 6 . 5 08 5 6 . 4 4 9 3 9 0	m i l l i o n ,
749,455,550 shares held by shareholders of	a l l b e i n g	o r d i n a r y s h a r e s , i n c l u d i n g
domestic listed domestic shares (A Shares),	749,455,550749,384,290shares held by
accounting for about 87.50% of the total	shareholders of domestic listed domestic shares
share capital of the Company; 107,065,100	(A Shares), accounting for about 87.50%
shares held by overseas listed foreign shares	of the total share capital of the Company;
(H Shares) shareholders, accounting for	107,065,100 shares held by overseas listed
approximately 12.50% of the total share capital	foreign shares (H Shares) shareholders,
of the Company.	accounting for approximately 12.50% of the
	total share capital of the Company.

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Original articles	Amended articles
Article 49	Within thirty days before	Article 49 Within thirty days before
convention of a general meeting or within	convention of a general meeting or within
five (5) days before the base date of dividend	five (5) days before the base date of dividend
distribution decided by the Company, no	distribution decided by the Company, no
change of registration of the register of	change of registration of the register of
members arising from share transfer shall	members arising from share transfer shall
be conducted. Where the relevant laws and	be conducted.Where the relevant laws and,
regulations and the listing rules of the stock	administrativeregulations, departmental rules,
exchange stipulate on the period of closure	normative documentsand the listing rules
of the register of members prior to a general	of the stock exchange in the place where the
meeting or the reference date set by the	stocks of the Company are listedstipulate on
Company for the purpose of distribution of	the period of closure of the register of members
dividends, such provisions shall prevail.	occasions when no change of registration of
		the register of shareholders shall be conducted
		prior to a general meeting or the reference
		date set by the Company for the purpose of
		distribution of dividends, such provisions shall
		prevail.
Article 79	The convener shall notify	Article 79 The convener shall notify the
the shareholders 20 business days prior to	shareholders 20 business days prior to the
the convening of the general meetings by	convening of the annualgeneral meetings
publishing an announcement stating, 15 days	by publishing an announcement statingin
(and not less than 10 business days) prior to	written form, 15 days (and not less than 10
the convening of the extraordinary general	business days)prior to the convening of the
meetings. Regarding the calculation of the	extraordinary general meetings. Regarding the
notice period, the date of the meeting shall not	calculation of the notice period, the date of the
be included. The aforementioned business day	meeting shall not be included, but the date on
shall mean the date on which the Hong Kong	which the notice is given shall be included. The
Stock Exchange opens for securities trading.	aforementioned business day shall mean the
		date on which the Hong Kong Stock Exchange
		opens for securities trading.

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Original articles	Amended articles
Article 94 General meetings shall be	Article 94 General meetings shall be
convened by the board of directors. General	convened by the board of directors. General
meetings shall be presided over by the	meetings shall be presided over by the
chairman. Where the chairman cannot or does	chairman. Where the chairman cannot or does
not fulfil the duty thereof, more than half of	not fulfil the duty thereof, more than half of
the directors may jointly elect a director to	the directors may jointly elect a director to
preside over the meeting.	preside over the meeting.
A general meeting convened by the supervisory	A general meeting convened by the supervisory
committee itself shall be presided over by the	committee itself shall be presided over by the
chairman of the supervisory committee. Where	chairman of the supervisory committee. Where
the chairman of the supervisory committee	the chairman of the supervisory committee
cannot or does not fulfil the duty thereof, more	cannot or does not fulfil the duty thereof, more
than half of the supervisors may jointly elect a	than half of the supervisors may jointly elect a
supervisor to preside over the meeting.	supervisor to preside over the meeting.
A g e n e r a l m e e t i n g c o n v e n e d b y t h e	A g e n e r a l m e e t i n g c o n v e n e d b y t h e
shareholders themselves shall be presided over	shareholders themselves shall be presided over
by a representative elected by the convener.	by a representative elected by the convener.
If for any reason, the shareholder is unable to	If for any reason, the shareholder is unable to
elect a representative as a presider to preside	elect a representative as a presider to preside
over the meeting, the shareholder holding the	over the meeting, the shareholder holding the
most voting shares among the shareholders	most voting shares among the shareholders
(including shareholder proxy) shall act as the	(including shareholder proxy (other than
preside to preside over the meeting.	HKSCC Nominees)) shall act as the preside to
	preside over the meeting.
When a general meeting is held and the
presider violates the articles of association or	When a general meeting is held and the
the rules of procedure for general meetings	presider violates the articles of association or
of the Company, which makes it difficult for	the rules of procedure for general meetings
the general meeting to continue, a person may	of the Company, which makes it difficult for
be elected at the general meeting to act as the	the general meeting to continue, a person may
presider, subject to the approval of more than	be elected at the general meeting to act as the
half of the attending shareholders with voting	presider, subject to the approval of more than
rights.	half of the attending shareholders with voting
	rights.

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Original articles	Amended articles
Article 133 When the Company is to hold	Article 133 When the Company is to hold a
a class meeting, it shall issue a written notice	class meeting, it shall issue a written notice 45
45 days prior to the meeting, informing all	days prior to the meetingin accordance with the
the registered shareholders of that class of	provisions on notice period of annual general
the matters to be considered at the meeting	meetings and extraordinary general meetings
as well as the date and venue of the meeting.	under Article 79, informing all the registered
Shareholders who intend to attend the meeting	shareholders of that class of the matters to be
shall, within 20 days prior to the day of the	considered at the meeting as well as the date
meeting, deliver their written replies regarding	and venue of the meeting. Shareholders who
their attendance to the Company.	intend to attend the meeting shall, within 20
	days prior to the day of the meeting, deliver
Where there shall be any special provisions	their written replies regarding their attendance
in the listing rules of the stock exchange at	to the Company.
which the shares of the Company are listed, the
Company shall adhere to as required.	Where there shall be any special provisions
	in the listing rules of the stock exchange at
	which the shares of the Company are listed, the
	Company shall adhere to as required.
Article 276 The articles of association has	Article 276 The articles of association has
been considered and approved at the general	been considered and approvedshall come into
meeting of the Company and shall become	effect on the date of consideration and approval
effective as of the date on which the overseas	at the general meeting of the Company and
listed foreign shares (H Shares) public issued	shall become effective as of the date on which
by the Company are listed and traded on the	the overseas listed foreign shares (H Shares)
Hong Kong Stock Exchange. The board of	public issued by the Company are listed and
directors of the Company shall be responsible	traded on the Hong Kong Stock Exchange.
for the interpretation of the articles of	From the effective date of the articles of
association.	association, the former articles of association
	of the Company shall automatically go out of
	effect.The board of directors of the Company
	shall be responsible for the interpretation of the
	articles of association.

Save for the proposed amendments, other provisions of the Articles of Association shall remain unchanged. The proposed amendments to the Articles of Association are prepared in Chinese language. In the event of any discrepancy between the English translation and the Chinese version, the Chinese version shall prevail. Corresponding changes will also be made to the rules of procedure for general meetings of the Company (the "Rules of Procedure of General Meetings").

The proposed amendments to the Articles of Association and the Rules of Procedure of General Meetings are subject to the approval of the special resolution by the Shareholders at the EGM. The Board has resolved to propose a resolution at the general meeting to authorise the Board to delegate the management of the Company to handle the approval and filing procedures with relevant regulatory authorities involved in such amendments, and to make adjustments to the wordings of such amendments according to opinions of the regulatory authorities.

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GENERAL

A circular containing, among others, (i) proposed partial repurchase and cancellation of the 2019 Restricted A Shares; (ii) proposed change of the registered capital of the Company; (iii) proposed change of the registered address of the Company; (iv) proposed amendments to the Articles of Association; and (v) notices convening the EGM and the H share class meeting will be despatched to Shareholders as and when appropriate.

By order of the Board

Hangzhou Tigermed Consulting Co., Ltd.

Ye Xiaoping

Chairman

Hong Kong, August 28, 2020

As at the date of this announcement, the executive Directors of the Company are Dr. Ye Xiaoping, Ms. Cao Xiaochun and Ms. Yin Zhuan; the independent non-executive Directors are Mr. Zheng Bijun, Dr. Yang Bo and Mr. Liu Kai Yu Kenneth.

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