Standard Chem. & Pharm. Corp.: Announcement of Improvement Plan Execution for Subsidiary Jiangsu Standard Biotech & Pharma Co., Ltd. Exceeding Loan Limits
Standard Chem. & Pharm. Corp.'s subsidiary, Jiangsu Standard Biotech & Pharma Co., Ltd., announced an improvement plan regarding its loan to affiliated company Jiangsu Deya Biotech & Pharma Co., Ltd. exceeding limits due to a decrease in net worth. Jiangsu Deya, unable to repay its debts, prompted Jiangsu Standard to file for bankruptcy liquidation, which has been accepted by the court. Standard Chem. & Pharm. Corp. states there's no significant financial impact.
📋 Article Processing Timeline
- 📰 Published: May 12, 2026 at 09:00
- 🔍 Collected: May 13, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 13, 2026 at 10:22 (2h 22m after Collected)
1. Date of occurrence of the event: 2026/05/12
2. Company name: Jiangsu Standard Biotech & Pharma Co., Ltd.
3. Relationship with the company (please enter 'parent company' or 'subsidiary'): Subsidiary
4. Mutual shareholding ratio: The company indirectly holds 100% equity.
5. Reason for occurrence:
(1) In accordance with the letter Ref. No. 1140335886 issued by the Financial Supervisory Commission on March 31, 2025, to announce the improvement plan.
(2) Jiangsu Standard Biotech & Pharma Co., Ltd.'s net worth decreased due to the recognition of investment company gains/losses, causing the year-end balance of funds lent to exceed the company's prescribed limit.
6. Countermeasures:
Jiangsu Standard Biotech & Pharma Co., Ltd. (hereinafter referred to as Jiangsu Standard) exceeded its loan limit to Jiangsu Deya Biotech & Pharma Co., Ltd. (hereinafter referred to as Jiangsu Deya) due to a decrease in net worth. The improvement plan is as follows:
As Jiangsu Deya is unable to repay its matured debts, Jiangsu Standard has applied to the local court for bankruptcy liquidation of Jiangsu Deya. The court has accepted the application, and the bankruptcy liquidation process is underway. Subsequent cancellation of claims and debts will be carried out based on the liquidation results.
7. Other matters that need to be specified (If the subject of the event or resolution is a public company or above, this material information also complies with Article 7, Paragraph 9 of the Enforcement Rules of the Securities and Exchange Act regarding matters that have a material impact on shareholders' equity or securities prices):
(1) Before the improvement plan is completed, the execution status will be announced quarterly and reported to the Board of Directors for control quarterly, and the execution status will be reported at the next shareholders' meeting.
(2) The company has recognized the impact of accumulated losses and debt losses under the equity method, therefore this event has no significant impact on the company's financial and business operations.
2. Company name: Jiangsu Standard Biotech & Pharma Co., Ltd.
3. Relationship with the company (please enter 'parent company' or 'subsidiary'): Subsidiary
4. Mutual shareholding ratio: The company indirectly holds 100% equity.
5. Reason for occurrence:
(1) In accordance with the letter Ref. No. 1140335886 issued by the Financial Supervisory Commission on March 31, 2025, to announce the improvement plan.
(2) Jiangsu Standard Biotech & Pharma Co., Ltd.'s net worth decreased due to the recognition of investment company gains/losses, causing the year-end balance of funds lent to exceed the company's prescribed limit.
6. Countermeasures:
Jiangsu Standard Biotech & Pharma Co., Ltd. (hereinafter referred to as Jiangsu Standard) exceeded its loan limit to Jiangsu Deya Biotech & Pharma Co., Ltd. (hereinafter referred to as Jiangsu Deya) due to a decrease in net worth. The improvement plan is as follows:
As Jiangsu Deya is unable to repay its matured debts, Jiangsu Standard has applied to the local court for bankruptcy liquidation of Jiangsu Deya. The court has accepted the application, and the bankruptcy liquidation process is underway. Subsequent cancellation of claims and debts will be carried out based on the liquidation results.
7. Other matters that need to be specified (If the subject of the event or resolution is a public company or above, this material information also complies with Article 7, Paragraph 9 of the Enforcement Rules of the Securities and Exchange Act regarding matters that have a material impact on shareholders' equity or securities prices):
(1) Before the improvement plan is completed, the execution status will be announced quarterly and reported to the Board of Directors for control quarterly, and the execution status will be reported at the next shareholders' meeting.
(2) The company has recognized the impact of accumulated losses and debt losses under the equity method, therefore this event has no significant impact on the company's financial and business operations.