Yuyue Medical's major shareholder 5.6 billion shares in Baiyao Holdings

On the evening of June 6, Yunnan Baiyao announced that in order to promote the mixed reform and introduce third-party investors, Jiangsu Yuyue Technology Development Co., Ltd. (“Jiangsu Yuyue”) intends to unilaterally contact the company’s controlling shareholder Yunnan Baiyao Holding Co., Ltd. “Baibu Holdings” increased its capital by 5.638 billion yuan.

Upon completion of the transaction, the shareholding structure of Baiyao Holding will be held by Yunnan State-owned Assets Supervision and Administration Commission and Xinhuadu Group (Xinhuadu Major Shareholders) each holding 50% of its equity, and will be changed to Yunnan Provincial State-owned Assets Supervision and Administration Commission, Xinhuadu Group and Jiangsu Yuyue respectively. Hold 45%, 45%, 10% of its equity.

Jiangsu Yuyue is also the second strategic partner introduced by Baiyao Holdings after the Xinhuadu Group. According to the data, Jiangsu Yuyue Yuyue Medical and Wandong Medical Controlling Shareholders have a market value of more than 40 billion yuan. Yu Guangming, a real operator of Yuyue Medical, holds a 95% stake in Jiangsu Yuyue. The group has dozens of wholly-owned, holding subsidiaries and grandchildren in China. Jiangsu Yuyue has always been an active participant and practitioner of China's economic reforms. In 2014, it has been involved in the reform of China Resources Wandong (now Wandong Medical).

As a benchmark for mixed reform of state-owned enterprises in Yunnan, Yunnan Baiyao's mixed reforms far exceeded market expectations.

In March of this year, Xinhuadu Group controlled by Chen Fashu completed a unilateral capital increase of approximately 25.4 billion yuan to Baiyao Holding and obtained a 50% stake in Baiyao Holdings. Before the transaction, Yunnan State-owned Assets Supervision and Administration Commission held 100% equity of Baiyao Holdings. The entry of Xinhuadu Group broke the absolute control of Yunnan State-owned Assets Supervision and Administration Commission on Baiyao Holdings.

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