Beijing Perxing Securities issued continuous supervision opinions on Cao Fei's offer to acquire Hubei Jichuan Pharmaceutical in the second quarter of 2025. On June 11, 2025, Cao Fei transferred the shares of Jichuan Holdings, triggering an obligation to make an offer. The offer expires on July 17, and 16,300 shares of the offer were pre-ordered, accounting for 0.0018% of the total share capital. On August 1, the tender acquisition, liquidation and transfer procedures were completed. Cao Fei and his co-actors jointly controlled 61.15% of the company's shares, and the company's share distribution met the listing conditions. During this continuous supervision period, the acquirers and listed companies regulated their operations. The acquirers fulfilled their public promises, did not propose major adjustments to the listed company's main business, assets, personnel, etc., and there were no illegal guarantees or loans from Jichuan Pharmaceutical.

Beijing Perxing Securities issued continuous supervision opinions on Cao Fei's offer to acquire Hubei Jichuan Pharmaceutical in the second quarter of 2025. On June 11, 2025, Cao Fei transferred the shares of Jichuan Holdings, triggering an obligation to make an offer. The offer expires on July 17, and 16,300 shares of the offer were pre-ordered, accounting for 0.0018% of the total share capital. On August 1, the tender acquisition, liquidation and transfer procedures were completed. Cao Fei and his co-actors jointly controlled 61.15% of the company's shares, and the company's share distribution met the listing conditions. During this continuous supervision period, the acquirers and listed companies regulated their operations. The acquirers fulfilled their public promises, did not propose major adjustments to the listed company's main business, assets, personnel, etc., and there were no illegal guarantees or loans from Jichuan Pharmaceutical.