According to Zhitong Finance App, Xinrui Pharmaceutical (06108) announced that on May 16, 2024 (after the trading period), the buyer Major Bright Holdings Limited (an indirect wholly-owned subsidiary of the company) entered into a sales agreement with the seller Yu Wenyong (as an independent third party). According to this, the seller conditionally agreed to sell and the buyer conditionally agreed to purchase the shares to be sold at a cost of HK$17.28 million. Shares for sale account for 16% of the issued share capital of the target company China Nu Wa Pharmaceutical Group Co., Ltd. The target group is mainly engaged in the manufacture, sale and distribution of pharmaceutical products in China.

According to the announcement, the acquisition is a good opportunity to expand and expand the Group's business operations in the pharmaceutical products industry. As of the date of this announcement, the target group (which manufactures, develops, distributes and sells pharmaceutical products in China, and provides marketing and promotion services) has obtained drug registration certificates and registered a number of patented trademarks for a range of pharmaceutical products, and has signed agreements to sell, act as agents (distribute products to hospitals and other institutions), promote and manage various pharmaceutical products in different provinces of China. The directors believe that this investment in the target group is consistent with the implementation of the group's long-term business strategy for better sustainable development. By investing in the target company, the group will form a closer alliance with the target group, and the directors believe this relationship will help the group obtain additional distribution rights for new pharmaceutical products.