Livzon Pharmaceutical : ANNOUNCEMENT ON PROGRESS OF THE REORGANIZATION

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ANNOUNCEMENT ON PROGRESS OF THE REORGANIZATION

References are made to the circular (the "Circular") dated 16 December 2020 and the announcements dated 4 December 2020, 15 December 2020, 16 December 2020, 5 January 2021, 8 January 2021, 11 January 2021, 18 January 2021, 27 January 2021 and 25 February 2021 of 麗珠醫藥集團股份有限公司 Livzon Pharmaceutical Group Inc.* (the "Company", together with its subsidiaries, the "Group") regarding the proposed connected transactions in relation to the Reorganization. Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Circular. The Company hereby announce the progress of the Reorganization as follows:

On 27 January 2021, LivzonBio and Livzon Cayman entered into the equity transfer agreement, pursuant to which Livzon Cayman agreed to transfer and LivzonBio agreed to acquire 100% equity interest of Livzon HK at a consideration of RMB39.4457 million. As at the date of this announcement, the parties have completed the transaction, and Livzon HK is directly owned by LivzonBio as to 100.00%.

On 25 February 2021, the Board approved the "Resolution for the Repurchase of Shares of Livzon Biologics Limited", and agreed that Livzon Cayman could repurchase its shares held by Livzon International, YF and Joincare BVI pursuant to the repurchase letters issued to Livzon Cayman by Livzon International, YF and Joincare BVI, respectively (the "Share Repurchases"). As at the date of this announcement, Livzon Cayman has already repurchased a total of 137,074,829 shares in issue and paid the corresponding consideration of the Share Repurchases to Livzon International, YF and Joincare BVI, respectively. The Share Repurchases has been completed, Livzon Cayman only retains one ordinary share, which is held by Livzon International, Livzon Cayman is directly owned by Livzon International as to 100.00%, and the relevant registration of Livzon Cayman will be cancelled.

The Company will make timely announcements in fulfillment of its obligations to disclose information based on the progress of the Reorganization according to relevant regulations. Investors are kindly reminded to beware of investment risks.

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By order of the Board

麗珠醫藥集團股份有限公司

Livzon Pharmaceutical Group Inc. *

Yang Liang

Company Secretary

Zhuhai, China

12 May 2021

As at the date of this announcement, the Executive Directors of the Company are Mr. Tang Yanggang (President) and Mr. Xu Guoxiang (Vice Chairman and Vice President); the Non-Executive Directors of the Company are Mr. Zhu Baoguo (Chairman), Mr. Tao Desheng (Vice Chairman), Mr. Qiu Qingfeng and Mr. Yu Xiong; and the Independent Non-Executive Directors of the Company are Mr. Bai Hua, Mr. Zheng Zhihua, Mr. Xie Yun, Mr. Tian Qiusheng and Mr. Wong Kam Wa.

* For identification purpose only

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