Lansen Pharmaceutical : DISPOSAL OF STARRY SHARES

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LANSEN PHARMACEUTICAL HOLDINGS LIMITED

朗生醫藥控股有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock code: 503)

DISPOSAL OF STARRY SHARES

Reference is made to the circular (the "Circular") of the Company dated 24 June 2020 in relation to the mandate to dispose shares (the "Starry Shares") of Zhejiang Starry Pharmaceutical Co., Ltd. ("Starry") held by the subsidiary of the Company and the announcement of the Company dated 9 April 2020 in relation to the Sixth Share Reduction Plans. Capitalised terms used herein shall have the same meanings as those defined in the Circular unless the context otherwise requires.

At the Extraordinary General Meeting on 13 July 2020, the Shareholders granted the New Starry Disposal Mandate to the Directors for the disposal of all or part of Starry Shares (and any future bonus issue entitlement) for a 12-month period commencing 13 July 2020.

On 23 July 2020, the Company disposed on-market of an aggregate of 424,000 Starry Shares at the price of RMB78.10 per Starry Share (represented a 6% discount to the closing price of Starry Shares on the Shanghai Stock Exchange at the previous trading day) pursuant to the New Starry Disposal Mandate and the Sixth Share Reduction Plans for an gross sale proceeds of approximately RMB33.11 million and, after deducting transaction costs and related tax, expected to be approximately RMB31.18 million (equivalent to approximately US$4.46 million). The Group is expected to recognise a net gain of approximately US$3.96 million which is calculated on the basis of the difference between the net disposal proceeds and the amount of investment costs of disposed Starry Shares. The above-mentioned US$ amounts are converted based on the approximate exchange rate of US$1=RMB6.9921, and the actual exchange rate used in conversion may be different.

The Company has disposed of an aggregate of 4,683,505 Starry Shares from the date of the New Starry Disposal Mandate have been granted.

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After this disposal of Starry Shares, 4,718,855 Starry Shares are owned by the Group, which value will be subject to market price fluctuations.

By Order of the Board

Lansen Pharmaceutical Holdings Limited

Wu Zhen Tao

Chairman

Hong Kong, 23 July 2020

As at the date of this announcement, the executive managing Director is Mr. Chen Li; the non-executive Directors are Mr. Wu Zhen Tao, Mr. Stephen Burnau Hunt and Ms. Liu Xuezi; the independent non-executive Directors are Mr. Chan Kee Huen, Michael, Mr. Fritz Heinrich Horlacher and Mr. Yeung Tak Bun, Allen.

For the purpose of this announcement, unless otherwise defined, conversions of RMB into US$ are based on the approximate exchange rate of US$1=RMB6.9921 for the purposes of illustration only. No representation is made that any amount in US$ and RMB could have been or could be converted at the above rate or any other rates.

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