Summary by Futu AI
SHANGHAI FUSTAR PHARMACEUTICALS (GROUP) CO., LTD. (ABBREVIATED AS FUSTAR PHARMACEUTICALS) ANNOUNCED ON 31 MAY 2024 THAT ITS SUBSIDIARY FOSHAN FUXING ZEN MEDICAL HAS SIGNED AN EQUITY TRANSFER AGREEMENT WITH STARSHUNJIAN INVESTMENT. UNDER THE AGREEMENT, FOSHAN FUSTAR ZEN WILL ACQUIRE 49% OF THE SHARES OF THE TARGET COMPANY HELD BY STAR SHUNJIAN INVESTMENT AT RMB131,146 FOR RMB131,146, INCREASING FOSHAN'S HOLDING RATIO TO 100%. The target company is a high-end nursing home focused on the combination of medical care, which is currently in the opening phase and is expected to be operational in the fourth quarter of 2024. This transaction constitutes a connected transaction but is exempt from independent shareholder approval under the Hong Kong Listing Rules as the maximum applicable percentage is less than 5%. FUSTAR PHARMACEUTICALS SAID THAT THE ACQUISITION WILL HELP DEEPEN THE GROUP'S PRACTICE AND EXPERIENCE IN THE FIELD OF MEDICAL BLENDING AND STRENGTHEN FOSHAN FUSTAR ZEN'S PROFESSIONAL MEDICAL RESOURCES IN PROVIDING MID-TO-HIGH END MEDICAL SERVICES.