Summary by Futu AI
China Key Longevity Science Group Limited (“China Key Longevity”) announced on 28 March 2024 the acquisition of its indirect non-wholly owned subsidiary Sichuan Zhongkiguande Biotechnology Co., Ltd. and Gansu Alkan Bioengineering Co., Ltd. and Gansu Alkan Bioengineering Co., Ltd. The county branch signed a trade contract for biological products with a total value of approximately RMB5600 million (equivalent to approximately HK$6048 million). The contract will supply biological products in batches according to the needs of Gansu Alkan. SME said that the signing of the contract will help the company further expand its domestic market and provide expansion opportunities for its biotechnology business, which is expected to bring stable and sustained revenue growth to the Group. Gansu Alkan is a high-tech enterprise that brings together a diverse biotech business and is independent of China's longevity and its affiliates. The Board considers that the terms of the trade contract are fair and reasonable and comply with normal commercial terms.