Gelonghui November 24 | Ziyuan Yuan (08223.HK) announced that on November 24, 2023, the company (“buyer”) signed a memorandum of understanding with He Chao, Shenzhen Yunrui Investment Limited Partnership (Limited Partnership) and Shenzhen Borui Cloud Investment Partnership (“Seller”).
According to the MOU, the buyer intended to buy and the seller intended to sell shares of Shenzhen Chuangda Yunrui Intelligent Technology Co., Ltd. (“Target Company”) and the buyer intended to inject capital into the target company. After the shares to be sold and capital injections are completed, the Group intends to own 51% of the target company's shares.
The target company is a limited company founded in China and founded in 2015. It is a national high-tech enterprise focusing on integrated sleep diagnosis and treatment and physical and mental health products. Through brain-computer interface technology and multi-modal sensor technology, the target company is in the medical device market and digital health solution product field for sleep diagnosis and treatment. The core R&D team comes from Peking University and the Chinese Academy of Sciences with master's majors in microelectronics, computers, and biomedicine. They have accumulated more than 10 years of industry experience in the field of analog digital chip system design and acousto-optic and electromagnetic multi-mode sensor integration. The target company now holds a number of Chinese and US patents.
The company is an investment holding company incorporated in the Cayman Islands. The Company and its subsidiaries (collectively referred to as the “Group”) are mainly engaged in providing financial leasing services for medical devices and equipment, maternal and child care industry services, and medical equipment and consumables trading business in China.
The directors believe that once the possible transaction matters are implemented, they can bring synergistic benefits to the Group's existing business. By integrating the resources, channels and market advantages of the target company and the Group, the Group will further develop the medical device and consumables trading business and enhance its competitiveness and market position in this field.