Announces Details of Proposed Listing on Main Board of SEHK

Highlights

• The fourth largest brand operator that carriesboth over-the-counter ("OTC") proprietary medicines and OTC proprietary Chinesemedicines in Hong Kong in 2019 by revenue^[1]
• As a subsidiary of Jacobson Pharma CorporationLimited ("Jacobson Pharma"; Stock Code: 2633), JBM Healthcare is a unique fieldplayer with drug expertise and a heritage that continues to foster a corporateculture of prioritizing product efficacy and quality
• Notable and growing brand portfolio along with aproven brand management capability. As at March 31, 2020, JBM Healthcarecarried a total of 20 principal brands, including 11 third-party brands and 9own brands
• Extensive sales and distribution network in HongKong, with a geographical reach spanning over China, Macau, Taiwan and selectcountries in Southeast Asia, Europe, North America and the Caribbean Islands

HONG KONG SAR - Media OutReach - 25 January2021 - JBM (Healthcare) Limited ("JBM Healthcare" or "Company"and, together with its subsidiaries, the "Group"),a Hong Kong-based company that markets and distributes branded healthcareproducts with product footprint across Greater China, Southeast Asia andcertain other countries, today announced details of the proposed listing of itsshares on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK").

Mr. Patrick Wong,Chief Executive Officer and Executive Director of JBM Healthcare (left) and Dr.Chu Ka Wing, President of the Proprietary Chinese Medicine Business andExecutive Director of JBM Healthcare (right)

Jacobson Pharma indirectly holds 85.04% of JBM Shares. Uponcompletion of the proposed spin-off, Jacobson Pharma will hold not less than50% of the shares of JBM Healthcare ("JBMShares") and that JBM Healthcare will remain a subsidiary of JacobsonPharma with its results continue to be consolidated into the accounts ofJacobson Parma. Jacobson Pharma will effect a distribution in specie of aportion of its JBM Shares if the spin-off proceeds, where each qualifyingshareholder of Jacobson Pharma will be entitled to one JBM Share for everyeight shares of Jacobson Pharma held.

JBM Healthcare has received pre-IPO Investments from three strategicinvestors, namely New Heritage Healthcare Limited, who was one of the cornerstoneinvestors of Jacobson Pharma during its global offering in 2016 and an existingshareholder of Jacobson Pharma; Gold Century Assets Limited, which itswholly-owned subsidiary Kin Fung Weisen-U Company Limited, a joint venturepartner of the Group; and Profit Cape Limited, an indirect wholly-ownedsubsidiary of Tycoon Group Holdings Limited (Stock Code: 3390), a companylisted on the Main Board of the Stock Exchange who is also JBM Healthcare'sHong Kong distributor and the parent company of its joint venture partner in ajointly controlled entity. A total of 97,000,000 JBM Shares were issuedpursuant to the pre-IPO investments, representing approximately 11.43% of thetotal issued JBM Shares immediately after completion of the pre-IPO investments,with an aggregate consideration of HK$97.0 million,

Offering Details

The Group intends to offer a total of 44,686,000 JBM Sharesfor the Public Offer. After deducting underwriting commissions and estimatedexpenses payable in connection with the Public Offer and assuming an offerprice of HK$1.2 per Offer Share, net proceeds from the Public Offer areestimated to be approximately HK$10.6 million. China Galaxy International Securities(Hong Kong) Co., Limited is the Sole Sponsor of the listing.

The Hong Kong Public Offer will begin at 9:00 am on 26January 2021 (Tuesday) and will end at 12:00 noon on 29 January 2021 (Friday).The allotment results will be announced on 4 February 2021 (Thursday). Dealingin JBM Healthcare's Shares will commence on the Main Board of SEHK on 5February 2021 (Friday) under the stock code 2161. The shares will be traded inboard lots of 2,000 shares each.

InvestmentHighlights

A leading HongKong-based brand operator with a notable and growing brand portfolio and provenbrand management capability

The Group was the fourth largest brand operator that carriesboth OTC proprietary medicines and OTC proprietary Chinese medicines in HongKong in 2019 by revenue¹. As at March 31, 2020, the Group carried atotal of 20 principal brands, including 11 third-party brands and 9 own brands.Besides, the Group has established a track record of introducingcategory-leading overseas branded healthcare products to local markets andrevitalized the brand positioning of its heritage household brands based onchanging demographics and consumer behaviors. It is believed that its brandmanagement capability is among the core competitive advantages in the brandedhealthcare market.

A unique field playerwith a heritage of pharmaceutical background and quality-driven culture ofJacobson Pharma

As a subsidiary of Jacobson Pharma, a leading generic drugcompany in Hong Kong in 2019¹, the Group is a unique field playerwith drug expertise and a heritage that continues to foster a corporate cultureof prioritizing product efficacy and quality. It is believed that, leveraged onthe ethical and trustworthy reputation and high market standing of the JacobsonPharma in the pharmaceutical sector, it makes third-party brand owners andproduct originators are more inclined to choose to partner with the Group. Inaddition, with the high standard of quality control inherited from an ethical pharmaceuticalcompany, JBM Healthcare is one ofthe few GMP-accredited proprietary Chinese medicine manufacturers in Hong Kong¹.It is believed the long track record of providing reliable and quality productsposition the Group to capture any future market opportunities.

Dual engines ofgrowth through sourcing and development of category-leading products andacquisitions of synergetic brands

Backed by a specialized product development team withrelevant regional industry knowledge, the Group has a long proven track recordof deploying dual engines to support its business developments. Not onlyorganically growing its business through the in-depth understanding and clearvision of healthcare trends and categories with market space, as well asidentifying product candidates or development with fitting allure and efficacyattributes. The Group also demonstrated the consistent ability to realizesynergies through strategic acquisitions and investments, which are in linewith its growth and business directions. It enables JBM Healthcare to expand itsown brand portfolio successfully through acquisition and integration ofattractive branded healthcare products.

Extensive sales anddistribution network in Hong Kong with multi-region geographical reach

The Group has established an extensive sales anddistribution network in Hong Kong, with a geographical reach spanning overChina, Macau, Taiwan and select countries in Southeast Asia, Europe, NorthAmerica and the Caribbean Islands. The stable business relationships with keyretailers and the Hong Kong distributor, coupled with its reputation in deliveringhigh quality products and the wide distribution network, have enabled JBMHealthcare to generate effective retail penetration and commercialization of itsnew products. Armed with a hybrid of sales and distribution models tailored fordifferent products and geographic markets, It is believed that JBM Healthcareis well-positioned to leverage its geographical presence and develop asustainable regional platform in Asia for branded healthcare products.

Seasoned managementteam with in-depth industry knowledge and regional experience

The Group's core management team comprises a group oftechnically seasoned industry veterans with a strong track record and provenexecution capabilities. Vast majority of its directors and senior managementteam, who on average has approximately 25 years of relevant industry experience,are registered pharmacists or have pharmaceutical or medical academicbackgrounds. It is believed that the experienced senior management team hasbeen and will continue to be key to its success in deployment of its dualengines of growth, allowing the Group to further integrate its regionalresources and take advantage of new opportunities.

Business Strategies

The PRC cross-border e-commerce market has grown rapidly asa result of the rising demand for overseas healthcare products and anincreasingly structured and formalized cross-border e-commerce channel in thePRC market. According to Frost & Sullivan Report, the gross merchandisevolume of pharmaceutical products e-commerce market in China is forecasted toreach HK$452.2 billion by 2024. The Group intends to expand its productofferings and deepen product penetration in China through cross-bordere-commerce initiatives. In order to increase its product penetration to endconsumers across all provinces, cities and counties in China and shorten itsproduct launch time, the Group will continue to actively deploy efforts andresources in the development of cross-border e-commerce initiatives bybroadening presence in cross-border e-commerce channels across a variety ofpopular platforms and engaging different cross-border e-commerce models.Besides, the Group intends to offer eligible branded health products throughcross-border e-commerce channels while formulating integrated brand strategiesto raise consumer awareness and profile of its brands and its own online storeto support product launches and improve sales performance. The Group aims tooptimize its online presence and enhance the visibility of its brand andproducts through multi-channel performance marketing initiatives, with the goalto increase the product penetration in the PRC market.

In addition, the Group will further expand its portfoliothrough organic growth and mergers and acquisitions in order to maintain itscompetitive position and ensure its future growth and success. While the Groupwill continue to seek organic growth for its product portfolio and adapt itsproduct offerings and develop product line extensions by building on existingown brand products and their brand appeal, it also intends to pursue suitableopportunities to acquire synergistic businesses in line with its growth andbusiness directions to enhance existing product portfolio and increase localpresence in other key markets for its products and business.

Leveraging the Group's established local businessrelationships and networks, JBM Healthcare intends to develop a brandedhealthcare product sourcing and distribution platform in Asia through theintegration of its regional resources and foothold. The Group sourcesthird-party brand products and secure third-party manufacturing arrangementsfor selected products in Greater China and other select countries in SoutheastAsia. In the short-term, the Group intends to leverage its established localbusiness relationships and networks to further enhance the on-the-groundpresence of its products through the establishment of joint venture andexpansion of existing relationship. In particular, JBM Healthcare has establisheda joint venture with a renowned PRC state-owned conglomerate through a jointlycontrolled entity with its Hong Kong distributor and intend to increase itsproduct penetration and explore other collaborative opportunities in China. Forthe long-term, the Group aims to strengthen its geographical reach in SoutheastAsia and capture the growing demand for health and wellness products. The Groupwill seek to leverage on its track record in those strategic locations tofurther source and introduce new third-party brand products and eventuallydevelop into a sustainable branded healthcare product sourcing and distributionplatform in Asia.

Backed by an extensive network in Hong Kong, the Groupintends to unleash the sales and distribution potential of its Chinese medicinepractitioner network. It is believed that the direct access and frequent interactionwith Chinese medicine practitioners in Hong Kong enables the Group to gainspecific insights and understanding of their practices, preferences andoperational environment. JBM Healthcare will seek to utilize such insights tocapture new business opportunities and capitalize on this distribution channel.

Use of Proceeds

Assuming the Offer Priceis HK$1.2 per Offer Share, the net proceeds are expected to be approximatelyHK$10.6 million, and the Group will apply such net proceeds for the followingpurposes:

About JBM (Healthcare) Limited (健倍苗苗（保健）有限公司)

JBMHealthcare is a Hong Kong-based company that marketsand distributes branded healthcare products withproduct footprint across Greater China, Southeast Asia and certain othercountries. Its portfolio includes a wide range of branded healthcare products,comprising consumer healthcare products and proprietary Chinese medicines. For more details about JBM Healthcare, please visit:www.jbmhealthcare.com.hk