This is because the "Wanglaoji" series trademarks were transferred to Guangzhou Pharmaceutical Group Co., Ltd., the controlling shareholder of Baiyunshan.

On the evening of December 27, 2018, Baiyunshan issued an announcement stating that the company planned to pay a price of 1.389 billion yuan (excluding value-added tax), and the agreement would transfer 420 items of the "Wanglaoji" series held by the controlling shareholder GPHL. Exclusive rights to trademarks—a total of 14 basic trademarks and a total of 406 defensive trademarks.

According to information from Zhongcai.com, on April 30, 2019, Baiyunshan issued an announcement on the completion of the transfer of the "Wanglaoji" series of trademark assets from GPHL. The announcement shows that Baiyunshan and GPHL signed the "Asset Delivery Confirmation Letter Regarding the Transfer of the "Wanglaoji" Series Trademarks" on April 30, 2019.