Genting Xinyao (01952) signed a strategic cooperation framework agreement with Hisen

Zhitong Finance App News, Genting Xinyao (01952) issued an announcement. On September 9, 2026, the subsidiary (a wholly-owned subsidiary of the Company) signed a strategic cooperation framework agreement with Hisense. The contracting parties agreed to establish a framework for the supply, distribution and related manufacturing and commercialization of products in China. The Group has been developing its pharmaceutical distribution and supply chain capabilities in China, and is expected to obtain a pharmaceutical business license in China by the end of 2026. After obtaining the relevant license, the Group intends to carry out pharmaceutical business and distribution activities in accordance with applicable GSP requirements. In this regard, through a strategic cooperation framework agreement with Hisense (as its partner), the Group intends to use its GSP platform, commercial infrastructure and production-related resources, and various products owned or authorized by Hisense Group to jointly expand cooperation related to commercial services, distribution and production of products in the region.

The Group has been developing its pharmaceutical distribution and supply chain capabilities in China, and is expected to obtain a “Pharmaceutical Business License” (i.e. a drug distribution license issued by the government) in China by the end of 2026. After obtaining the relevant license, the Group intends to carry out pharmaceutical business and distribution activities for its own pipeline products (including but not limited to Nifukang®, Weisipin® and Iga®) in accordance with applicable GSP requirements. Furthermore, considering the Group's employees, facilities and other resources in production and commercialization, as well as the products owned by Heisen, it is expected that the strategic cooperation framework agreement will enable the Group to utilize its existing capabilities on a larger scale and support the efficient supply, distribution and commercialization of products in China.

Payments payable by the Group to Hisense Group under the strategic cooperation framework agreement are mainly the procurement costs of products or materials used in connection with the Group's downstream distribution, sales and commercialization activities, and will form part of the Group's operating cost base, rather than independent service fees payable to the Hisense Group. The Board believes that the strategic cooperation framework agreement will enable the Group to further utilize its supply chain, manufacturing and commercialization infrastructure, expand its revenue base, and deepen its strategic cooperation with Hisense.