[TigerPharm: Plans to participate in the privatization of subsidiary Frontage Holdings and divest its overseas laboratory business] On November 9, Tigermed (300347.SZ) announced that the company plans to sell control of its subsidiary Frontage Holdings and divest its overseas laboratory business. This transaction includes two parts: privatization and spin-off. The company's wholly-owned subsidiary Hong Kong Tiger, together with CRL, Dr. Li Song and others, jointly established SanRex as the acquisition entity to privatize Frontage Holdings in a planned arrangement. After the privatization is completed, Frontage Holdings will become a wholly-owned subsidiary of SanRex. After the spin-off transaction is completed, the company will no longer hold shares in Frontage Holdings and will only retain non-target businesses in China. The initial transaction price of the target business is US$470 million, the non-target business outside China is US$84.4 million, and the non-target business within China is US$205.5 million. The company expects to receive a cash consideration of approximately RMB 461.2 million during the privatization stage. The transaction still needs to be approved by the shareholders' meeting and relevant regulatory agencies.