Lansen Pharmaceutical : DISPOSAL OF STARRY SHARES

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LANSEN PHARMACEUTICAL HOLDINGS LIMITED

朗生醫藥控股有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock code: 503)

DISPOSAL OF STARRY SHARES

Reference is made to the circular (the "Circular") of the Company dated 24 June 2020 in relation to the mandate to dispose shares (the "Starry Shares") of Zhejiang Starry Pharmaceutical Co., Ltd. ("Starry") held by the subsidiary of the Company and the announcement of the Company dated 3 November 2020 in relation to the Seventh Share Reduction Plans. Capitalised terms used herein shall have the same meanings as those defined in the Circular unless the context otherwise requires.

At the Extraordinary General Meeting on 13 July 2020, the Shareholders granted the New Starry Disposal Mandate to the Directors for the disposal of all or part of Starry Shares (and any future bonus issue entitlement) for a 12-month period commencing 13 July 2020.

During the period from 24 March 2021 to 15 April 2021, the Company disposed on-market of an aggregate of 962,869 Starry Shares at the average price of RMB61.53 per Starry Share pursuant to the New Starry Disposal Mandate and the Seventh Share Reduction Plans for an gross sale proceeds of approximately RMB59.24 million and, after deducting transaction costs and related tax, expected to be approximately RMB55.85 million (equivalent to approximately US$8.50 million). The Group is expected to recognise a realised loss from financial assets at fair value through profit or loss (net of transaction costs and related tax) of approximately US$1.15 million which is calculated on the basis of the difference between the net disposal proceeds and the carrying amount of such disposed portion of the financial assets at fair value through profit or loss as at 31 December 2020. The above-mentioned US$ amounts are converted based on the approximate exchange rate of US$1=RMB6.5713, and the actual exchange rate used in conversion may be different.

The Company has disposed of an aggregate of 7,117,436 Starry Shares from the date of the New Starry Disposal Mandate have been granted.

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After this disposal of Starry Shares, 2,284,924 Starry Shares are owned by the Group, which value will be subject to market price fluctuations.

By Order of the Board

Lansen Pharmaceutical Holdings Limited

Wu Zhen Tao

Chairman

Hong Kong, 15 April 2021

As at the date of this announcement, the executive managing Director is Mr. Chen Li; the non-executive Directors are Mr. Wu Zhen Tao, Mr. Stephen Burnau Hunt and Ms. Liu Xuezi; the independent non-executive Directors are Mr. Chan Kee Huen, Michael, Mr. Fritz Heinrich Horlacher and Mr. Yeung Tak Bun, Allen.

For the purpose of this announcement, unless otherwise defined, conversions of RMB into US$ are based on the approximate exchange rate of US$1=RMB6.5713 for the purposes of illustration only. No representation is made that any amount in US$ and RMB could have been or could be converted at the above rate or any other rates.

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