Summary by Futu AI
Zhongqi Longevity Science Group Co., Ltd. (“Zhongkei Longevity”) announced on April 18, 2024 that its wholly-owned subsidiary Shenzhen Zhongqi Health Science Co., Ltd., and its indirect non-wholly owned subsidiary Sichuan Zhongqi Guande Biotechnology Co., Ltd., have signed a joint venture with Sichuan Chung Nongyuan Navigation Data Technology Group Co., Ltd. Funding agreement to set up a joint venture company in China. The joint venture will be owned by CIC Kwun Tak with 51% of the shares, China-based Health with a 25% stake, and CNG will have a 24% shareholding. The new company will focus on the development of new micro-innovative technologies for the clinical control of hypertension, diabetes, intermediate technologies and related bioproducts trade. SME said the move was in line with the Group's business development strategy, helping to expand its business reach into biotechnology and bring new revenue streams to the Group.