Sanpu Pharmaceutical is planning to rename "Far East Cable"

On the evening of July 15, Sanpu Pharmaceutical announced that the company’s board of directors passed a resolution that the company’s original Chinese name “Sanpu Pharmaceutical Co., Ltd.” is now planned to be changed to “Far East Cable Co., Ltd.”; the company’s original English name “S&P Pharmaceutical Co., Ltd. (S&P) is now intended to be changed to Far East Cable Co., Ltd. (Far East Cable). The company's A-stock abbreviation is intended to be changed from “Sanpu Pharmaceutical” to “Far East Cable” and the stock code remains unchanged.

At the same time, the company plans to invest RMB 50 million to set up a wholly-owned subsidiary, Sanpu Pharmaceutical Co., Ltd., which is 100% controlled. The business scope is to develop, produce, and sell capsules, pills, granules, etc. Sanpu Pharmaceutical stated that the proposed investment in the establishment of a wholly-owned subsidiary is to meet the company's future business development needs, further improve and enhance the company's industrial development layout, and concentrate on developing the cable industry. After the establishment of the new company, all the medical assets of the parent company will be injected into the company, and the personnel will be transferred with the business. After all the formalities of the new company are completed, it is proposed that all the company’s shares in the pharmaceutical industry are not lower than the company’s net assets and the reference assessment All the value was transferred to the company's controlling shareholder, Far East Holding Group Co., Ltd. After the transfer was completed, the company no longer engaged in pharmaceutical-related production and business activities.