On November 29th, China Environmental Protection Technology (00646.HK) announced that on November 28, 2021, the company's wholly-owned subsidiaries Winsum Investment Limited (as buyer) and Zhong Shen Cambodia and Ms. Yang Caiyun (as seller) signed a sale and purchase agreement, under which the seller agreed to sell 51% of the interest in the target company for a transaction consideration of HK $100000 (which should be paid in cash).

According to the disclosure, the target company (Cambodia-China Biological Research Holdings Co., Ltd.) is an investment holding company, held equally by the seller. The main business of the target group is biological cell storage services, biological cold chain logistics, biological consulting services, sales and communication and promotion of biotechnology, as well as the sale of medical devices, biological data and health products. The target group is a partner of NSCTRC and is responsible for the marketing and operation management of NSCTRC storage cell samples. On the date of the announcement, the Target Group indicated to the directors that they were the only partners in NSCTRC in this field.

In addition, the target group develops its own cold chain logistics, including, but not limited to, refrigerated vehicles specially designed for stem cell preparation and transport, as well as a mobile application to track the sending and storage status of biological cells. Moreover, the target group has signed a cooperation agreement with GBHRC to operate and promote the products and technology solutions developed by GBHRC. The target group is also working with GBHRC to develop training programs and storage services related to urine stem cells. In addition, the target group signed an intention agreement with the government of Wujiang District, Shaoguan City, Guangdong Province to jointly invest in the construction of NSCTRC primate Reserve Experimental Center in Wujiang District, Shaoguan City, Guangdong Province. The board believes that by signing a sale and purchase agreement, the acquisition will expand the group's ability to serve the cell biology industry.