Sisram Medical Ltd (Sisram Medical) has executed a new three-year Supply Framework Agreement through wholly-owned subsidiary Sisram Medical HK Ltd (Sisram HK) with Fosun Wanbang (Jiangsu) Health Development Co., Ltd., an indirect wholly-owned subsidiary of controlling shareholder Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (Fosun Pharma).
The agreement, signed on 22 May 2026, allows Sisram HK to supply botulinum toxin type A for injection (DaxibotulinumtoxinA-lanm; trademarks 达希斐®/DAXXIFY®, project code RT002) to Fosun Wanbang across Mainland China from 10 June 2026 to 9 June 2029, with an option to renew for a further three years subject to Listing Rule compliance.
Key commercial terms • Pricing: cost-plus basis with a profit margin between 2.66 % and 10.21 %, reflecting distribution tiers, academic promotion and marketing expenses. • Payment: Fosun Wanbang must remit funds to Sisram HK within ten business days of receiving payment from downstream customers. • Supply region: People’s Republic of China.
Proposed annual caps • 10 Jun – 31 Dec 2026: US$6.20 million • FY 2027: US$22.00 million • FY 2028: US$44.00 million • 1 Jan – 9 Jun 2029: US$38.00 million Total potential contract value over the term: US$110.20 million.
Historical performance Commercial production started only after the product passed PRC quality testing in early 2026; therefore, no transactions occurred in 2025. From 1 January to 30 April 2026, supply to Fosun Wanbang amounted to about US$2.05 million, which remains within the cap set under the existing 2025-2026 framework.
Strategic rationale The toxin complements Sisram’s energy-based medical aesthetic portfolio and aligns with the group’s sales strategy. Collaborating with Fosun Wanbang—one of the few PRC entities licensed to distribute toxic drugs—secures nationwide distribution and leverages Fosun Wanbang’s established channel without partnering with competitors.
Governance and compliance Because Fosun Wanbang is a connected person, the transaction constitutes a continuing connected transaction under Chapter 14A of the Hong Kong Listing Rules. Relevant percentage ratios exceed 5%, triggering disclosure, annual review, and independent shareholders’ approval requirements. An Independent Board Committee of all independent non-executive directors has been formed, and Rainbow Capital (HK) Limited is engaged as Independent Financial Adviser. A circular will be dispatched by 15 June 2026, and an extraordinary general meeting will be convened; Fosun Pharma Industrial Pte. Ltd., holding 71.42 % of Sisram Medical, will abstain from voting.
Internal controls Sisram Medical states it maintains a tracking system for connected transactions, conducts annual independent reviews by both INEDs and auditors, and provides ongoing regulatory training to directors and senior management to ensure adherence to Listing Rules.