Shandong University President Li Shucai (left) presents a donation certificate to Zhao Yan, president of Bloomage Biotechnology. [Photo/view.sdu.edu.cn]

Zhao Yan, president and general manager of Bloomage Biotechnology recently donated part of her holdings in the company – listed on the stock exchange in East China's Shanghai with the ticker number 688363.SH.

The aim is to support the development of medical education and technology at Shandong University.

The donated shares amount to 1 percent of the company's total share capital, which translates to 4,816,782 shares. The current market value exceeds 400 million yuan ($54.73 million). This is the first donation of shares received by Shandong University since it was founded in 1901.

At the donation ceremony, Guo Xinli, Party Secretary of Shandong University, thanked Zhao for her generosity in a keynote speech.

He said the act demonstrated the innovated donation mode and promoted the development of education through diversified funding.

Shandong University will work with Bloomage Biotechnology to make greater contributions to shape the core competitiveness of China's biomedical industry, Guo added.

For her part, Zhao said that the donation was to commemorate the outstanding contributions of the late Shandong University Professor Zhang Tianmin, recognized for being the "father of hyaluronic acid in China".

She added that the donation also aimed to support Shandong University's scholars and researchers – who have made outstanding contributions in the field of biomedicine – to promote the development of China's biotechnology sector.

Shandong University President Li Shucai also attended the ceremony and presented a donation certificate to Zhao.