Guangzhou Baiyunshan Pharmaceutical Group Co., Ltd. Announcement on Subsidiary's Receipt of Drug Clinical Trial Approval Notice

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Stock Code: 600332 Stock Abbreviation: Baiyunshan Announcement No.: 2026-013

Guangzhou Baiyunshan Pharmaceutical Group Co., Ltd.

Announcement Regarding the Approval Notice for a Subsidiary to Conduct Clinical Trials for a New Drug

The Board of Directors and all directors of the company guarantee that this announcement does not contain any false records, misleading statements, or major omissions, and assume legal responsibility for its truthfulness, accuracy, and completeness.

Recently, Guangzhou Baiyunshan Pharmaceutical Group Co., Ltd. (hereinafter referred to as “the Company”)’s subsidiary, Guangzhou Baiyunshan Qixing Pharmaceutical Co., Ltd. (hereinafter “Qixing Pharmaceutical”), received the “Drug Clinical Trial Approval Notice” issued by the National Medical Products Administration (NMPA) for the new indication of Hyperhidrosis Granules. The relevant details are as follows:

1. Basic Information of the Drug

Drug Name: Hyperhidrosis Granules

Registration Category: Traditional Chinese Medicine, Class 2.3

Applicant: Guangzhou Baiyunshan Qixing Pharmaceutical Co., Ltd.

Acceptance Number: CXZL2500133

Approval Notice Number: 2026LP00676

Approval Conclusion: According to the “Drug Administration Law of the People’s Republic of China” and relevant regulations, after review, the Hyperhidrosis Granules accepted on December 23, 2025, meet the requirements for drug registration. Based on further improvement of the clinical trial plan, approval has been granted to conduct clinical trials for use in children with recurrent respiratory infections.

2. Drug Development and Related Information

Qixing Pharmaceutical submitted an application for clinical trials to add a new indication for Hyperhidrosis Granules on December 17, 2025, which was accepted on December 23, 2025.

Hyperhidrosis Granules are used to benefit qi and nourish yin, stabilize the surface, and stop sweating. They are used for spontaneous sweating and night sweats caused by qi and yin deficiency, as well as for children with night sweats. This product is an already marketed traditional Chinese medicine compound preparation. This application is for an additional clinical trial for use in children with recurrent respiratory infections.

As of the date of this announcement, Qixing Pharmaceutical has invested approximately 20.5156 million yuan (RMB) in the research and development of Hyperhidrosis Granules.

3. Market Situation

Hyperhidrosis Granules are an exclusive product of Qixing Pharmaceutical. Similar products on the Chinese market include Yupingfeng Granules, Danxi Yupingfeng Granules, Yupingfeng Capsules, and Yupingfeng Oral Liquid. According to the MiNai Network database, in 2024, the sales of these similar products in domestic cities, county-level public hospitals, urban and online pharmacies amounted to 644.5 million yuan, 76.58 million yuan, 62.44 million yuan, and 55.56 million yuan, respectively. In 2024, Qixing Pharmaceutical’s sales of Hyperhidrosis Granules reached approximately 49.09 million yuan.

4. Risk Reminder

According to China’s relevant laws and regulations on drug registration, drugs can proceed to clinical trials after receiving the “Drug Clinical Trial Approval Notice.” The new indication must be approved and registered by the national drug supervision department before it can be included in the drug label and used to guide clinical practice.

Pharmaceutical products are high-tech, high-risk, and high-value-added. The process from early research and development, clinical trials, registration application, to industrial production is lengthy and involves many steps, which are susceptible to uncertainties. Investors are advised to be cautious of investment risks. The company will disclose relevant information in a timely manner based on the actual progress of drug development.

This announcement is hereby made.

Guangzhou Baiyunshan Pharmaceutical Group Co., Ltd. Board of Directors

March 16, 2026

Stock Code: 600332 Stock Abbreviation: Baiyunshan Announcement No.: 2026-012

Guangzhou Baiyunshan Pharmaceutical Group Co., Ltd.

Announcement Regarding the Listing and Transfer of Accounts Receivable Asset-Backed Securities for the Controlling Subsidiary and the No Objection Letter from the Shanghai Stock Exchange

The Board of Directors and all directors guarantee that this announcement does not contain any false records, misleading statements, or major omissions, and assume legal responsibility for its truthfulness, accuracy, and completeness.

Guangzhou Baiyunshan Pharmaceutical Group Co., Ltd. (“the Company”) held the 31st meeting of the 9th Board of Directors on December 1, 2025, which approved the “Proposal on the Asset Securitization of Accounts Receivable of the Controlling Subsidiary Guangzhou Pharmaceutical Co., Ltd.” and agreed that Guangzhou Pharmaceutical Co., Ltd. (“Guangzhou Pharmaceutical”) would carry out the asset securitization business by establishing the “Accounts Receivable Asset Support Special Plan.” The proposal was approved at the company’s 2025 third extraordinary general meeting held on December 30, 2025. For details, see the announcements numbered 2025-084 and 2025-097 disclosed on December 1 and December 30, 2025.

On March 13, 2026, the company received the “No Objection Letter” (Shanghai Stock Exchange [2026] No. 830) forwarded by Xingzheng Securities Asset Management Co., Ltd. (“Xingzheng Asset Management”) regarding the listing and transfer of the asset-backed securities of the “Guangzhou Pharmaceutical Accounts Receivable 5-9 Period Asset Support Plan” on the Shanghai Stock Exchange. The relevant details are as follows:

The asset-backed securities of the “Guangzhou Pharmaceutical Accounts Receivable 5-9 Period Asset Support Plan” meet the listing transfer conditions of the SSE, and the SSE has no objection to their transfer. The securities will be issued in installments, with a total amount not exceeding 3 billion yuan, and will be non-renewable asset-backed securities. The first issuance should be completed within 12 months from the date of the “No Objection Letter.” The “No Objection Letter” is valid for 24 months from the date of issuance.

The company, Guangzhou Pharmaceutical, and Xingzheng Asset Management will handle the issuance matters in accordance with relevant laws and regulations and will fulfill disclosure obligations in a timely manner.

This announcement is hereby made.

Guangzhou Baiyunshan Pharmaceutical Group Co., Ltd. Board of Directors

March 16, 2026