Voluntary Announcement Update on Discloseable Transaction:acquisition of Sale Shares (Involving the Issue of Consideration Shares under General Mandate)

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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

WUYI INTERNATIONAL PHARMACEUTICAL COMPANY LIMITED

武武武武夷夷夷夷國國國國際際際際藥藥藥藥業業業業有有有有限限限限公公公公司司司司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1889)

VOLUNTARY ANNOUNCEMENT UPDATE ON DISCLOSEABLE TRANSACTION: ACQUISITION OF SALE SHARES (INVOLVING THE ISSUE OF CONSIDERATION SHARES UNDER GENERAL MANDATE)

Reference is made to the announcement of Wuyi International Pharmaceutical Company Limited (the "Company") dated 29 June 2016 (the "Announcement") in relation to the extension of Longstop Date in respect of the acquisition by the Group of 100% equity interest in the Target Company pursuant to the conditional Share Transfer Agreement dated 9 December 2015 entered into between the Company, the Purchaser, the Target Company and the Vendors.

Unless the context otherwise requires, capitalized terms used herein have the same meanings as those defined or referred to in the Announcement.

UPDATE ON FULFILLMENT OF CONDITIONS

As disclosed in the Announcement, the Longstop Date for the satisfaction of the eight Conditions under the Share Transfer Agreement has been extended from 30 June 2016 to 31 December 2016 (or such later date as agreed by the Parties) (the "Extension"). As at the date of the Announcement, only the Condition that "the Target Company has completed the transfer of Sale Shares and the Group has obtained the business license of the Target Company after the alteration" had yet to be fulfilled.

The Board would like to announce that, as informed by the Target Company, as at the date of this announcement, the new business license is still outstanding, due to 1) the implementation of national unification policy of "3 licenses in 1" (Business Licenses, Organization Code Certificates and Tax Registration Certificates) and 2) the relocation of office of the Target Company. The Company is still waiting for the issuance of the new business license from the relevant PRC government authority.

The Board would like to further disclose that seven Conditions have already been fulfilled and that the delay for fulfilment of the remaining one Condition mainly relates to the reform in the PRC registration policy. It is difficult to estimate the timing as to when the change of business registration of the Target Company can be completed, however, according to an

announcement published by the Fujian Provincial People's Government dated 30 September 2015, the transitional period for the policy reform in respect of the unification of the three licenses/certificates will end on 31 December 2016 (the "Reform Transitional Period"). The Board therefore believes that the change of business registration of the Target Company can be completed on or before 31 December 2016. Accordingly, the Board considers that the Extension, which is in line with the expiry of the Reform Transitional Period, is fair and reasonable and is in the interests of the Company and the Shareholders as a whole.

As Completion is conditional and may or may not proceed, Shareholders and potential investors shall exercise caution when dealing in the securities of the Company.

By Order of the Board

Wuyi International Pharmaceutical Company Limited Lin Ou Wen

Chairman and Chief Executive Officer

Hong Kong, 26 July 2016

As at the date of this announcement, the Board comprises 3 Executive Directors, namely, Mr. Lin Ou Wen (Chairman), Mr. Lin Qing Ping and Mr. Lin Min, and 3 Independent Non-executive Directors, namely, Mr. Zhang Jie, Mr. Zhang Xue Wen and Mr. Wu Cheng Han.