Summary by Futu AI
Pharma Biologics announced that its subsidiary Pharmaceutical Union and Pharma Kond Group have entered into a Connective Subsidiary and Active Carrier Service Agreement from 17 November 2023 to 31 December 2025 for a period of three years. The agreement involves the provision of R&D and manufacturing services to the Pharmaceutical Joint Group and the supply of related intermediate products for use in ADC CRDMO services. As the relevant percentage of Pharma Union exceeds 10%, according to its 2023 annual results, Pharmaceutical Union is no longer considered a non-significant subsidiary. Therefore, this transaction is subject to the declarations and announcements of Chapter 14A of the Listing Rules, but is exempt from compliance with the requirements of circulars, independent financial opinions and shareholder approval. In the past...Show More