CEO`s statement

Dear Sir / Madam,

It is a pleasure for me to have the opportunity to address you for the first time since China Pioneer Pharma Holdings Limited became the majority shareholder of COVEX S.A. on 1st July 2014, after having made a significant investment in order to strengthen the latter’s equity solvency and to ensure that COVEX’s ambitious plans regarding future development are achieved.

We have decided to acquire a stake in COVEX for numerous reasons; from amongst them all, I consider particularly noteworthy its high quality standard of European-manufactured products, the level of expertise gained over 35 years in its specialised field of business, its customer base spread throughout more than 50 countries, and its extraordinary workforce.

I am confident these values will be reinforced by the fact that COVEX now forms part of China Pioneer Pharma Holdings Limited, a group listed on the Hong Kong stock exchange (Stock Code 01345), and committed to providing its customers with the best service throughout the progressive growth of its business.

I hope you will accompany us in this new project, and share in the success that we are sure to attain together.

Yours faithfully,

Ms Fiona Lai Chief Executive Officer