China Environmental Protection Technology (00646.HK) announced that its wholly-owned subsidiary Winsum Investment had acquired a 51 per cent stake in Cambodia Biological Research Holdings from Zhong Shen Cambodia and Yang Caiyun for a transaction consideration of 100000 yuan (which should be paid in cash).

The main businesses of the Target Group are 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. It signed an intention agreement with the government of Wujiang District, Shaoguan City, Guangdong Province, to join other partners to invest in the construction of NSCTRC primate Reserve Experimental Center in Wujiang District, Shaoguan City, Guangdong Province.

The company believes that by signing a sale and purchase agreement, the acquisition will expand the group's ability to serve the cell biology industry. It was also pointed out that in view of the current financial situation, the Board decided to change its current health-related business from R & D for the development of new drugs and serving cell-related R & D. to focus on expanding its ability to serve cells and other biomedical industry sectors.