Livzon Pharmaceutical : VOLUNTARY ANNOUNCEMENT UPDATE ANNOUNCEMENT ON ACQUISITION OF 40.00% EQUITY INTEREST IN TIANJIN TONGRENTANG

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.

VOLUNTARY ANNOUNCEMENT

UPDATE ANNOUNCEMENT ON ACQUISITION OF

40.00% EQUITY INTEREST IN TIANJIN TONGRENTANG

References are made to the voluntary announcements of Livzon Pharmaceutical Group Inc.* 麗珠醫藥集 團股份有限公司(the "Company", together with its subsidiaries, collectively referred to as the "Group") dated 22 March 2021 and 6 April 2021 (the "Announcements") in relation to the acquisition of 40.00% equity interest in Tianjin Tongrentang by the Company. Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements.

On 21 April 2021, the Company received the "Confirmation Letter on Application for the Transfer of Tianjin Tongrentang's Equity Interest for Certain Matters under the Agreement (《關於津同仁堂特定事 項協議轉讓申請的確認函》)" issued by National Equities Exchange and Quotations Co., Ltd., which confirms the transfer price, the number of shares for transfer and other relevant information involved in the Transaction.

On 27 April 2021, the Company obtained the "Confirmation Letter on Securities Transfer and Registration (《證券過戶登記確認書》)" from China Securities Depository and Clearing Corporation Limited, and the Company has completed the transfer and registration procedures in relation to the acquisition of 40.00% equity interest in Tianjin Tongrentang.

In addition, during the share transfer period of the Transaction, Tianjin Tongrentang implemented the equity distribution for the year 2020 (distribution of cash dividends), and pursuant to the Agreement, Tianjin Tasly shall pay the Company the full amount of the cash dividends received during the share transfer period.

On 27 April 2021, the Company has received the aforesaid cash dividends which amounted to a total of RMB40.04 million.

1

This announcement is made voluntarily by the Company.

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

27 April 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

2