Dawnrays Pharma Subsidiary to Commit 100 Million Yuan to Form Investment Partnership Targeting Healthcare and Biotech Sectors

Dawnrays Pharma (Holdings) Company Limited (DAWNRAYS PHARMA) (ASX: 02348) has announced that on June 18, 2026, its wholly-owned subsidiary, Suzhou Dawnrays, as a limited partner, entered into a limited partnership agreement with Zhongjianxin, also as a limited partner, and Shanghai Jianxin, as the general partner.

The agreement establishes a partnership fund, with Suzhou Dawnrays committing up to RMB 100 million, representing 50% of the fund's intended capital.

The partnership is provisionally named Shanghai Jianxin Dawnrays Biomedicine Venture Capital Investment Partnership (Limited Partnership), subject to final registration with the relevant government authorities.

The fund's purpose and investment objective are to conduct equity investments, including through convertible debt instruments, and/or other investments, primarily focused on the pharmaceuticals, biotechnology, and medical health sectors.

This focus may be altered only upon approval by partners meeting a two-thirds threshold at a partners' meeting. The goal is to achieve favorable investment returns for the partners.

The board noted that this investment enables the group to leverage and benefit from the general partner's investment track record, network, and professional team within the biomedicine field.

It is expected to not only generate returns from investments in the pharmaceutical, biotech, and healthcare sectors but also create opportunities to connect with portfolio companies for potential business collaboration with the group.

Such collaborations could involve expanding the group's product pipeline or accessing new technologies beneficial to the group, opportunities that might otherwise be difficult to obtain.

The board also highlighted that Zhongjianxin, as the controlling shareholder of the general partner, has committed to contributing 50% of the partnership's capital, thereby aligning the interests of the general partner's group with those of Dawnrays Pharma.

In this context, the board considers the group's committed capital, representing approximately 2.5% of its total assets or 8.6% of its cash and bank deposits as of December 31, 2025, to be appropriate and made on terms consistent with market practice.

The board believes entering into the limited partnership agreement is in the overall interests of the company and its shareholders.