According to the Zhongtong Finance and Economics APP, YSB (09885) opened more than 5% higher, rose by 5.43% as of the time of publication, to 7.76 Hong Kong dollars, with a turnover of 0.4982 million Hong Kong dollars.

On the news front, YSB announced that on October 15, 2024 (after the trading session on the Stock Exchange of Hong Kong), the company, the seller, the founder, the target guarantor, Da De Hongyi, and De Zhiqing entered into the agreement, whereby the seller agreed to sell and the company agreed to purchase the shares (jointly accounting for 100% of the issued and outstanding share capital of the target company Folding Space (Cayman) Ltd.), for a total price of approximately 1.035 billion Chinese yuan, in accordance with the terms and conditions of the agreement.

The announcement stated that the acquisition is beneficial for the group to achieve downstream customer synergy and upstream procurement synergy, thereby improving the efficiency of recycling systems and storage infrastructure.

It is reported that Yikuaichem was founded in 2019, headquartered in Changsha, focusing on providing medical and health products and services to downstream chain pharmacies, multibrand pharmacies, and single pharmacies, with its own pharmaceutical brands such as Yuandian, Antaibang, and Xinglintai covering various categories including Chinese patent medicine, pharmaceuticals, and health supplements. Currently, Yikuaichem has established strategic partnerships with over 1,000 pharmaceutical companies to provide approximately 700 own brand SKUs to headquarters of downstream 3,000 chain pharmacies and tens of thousands of multibrand and single pharmacies.