On November 7, Gronto's Zhong Ji LS (00767.HK) announced that on November 7, 2024, its wholly-owned subsidiary, Shenzhen Chalkis Health Science Co., Ltd., signed a joint venture agreement with Shenzhen Meross Medical Beauty Investment Co., Ltd. and Shenzhen Jinli Medical Beauty Clinic to establish a joint venture company in China. The joint venture company will be owned 51% by Chalkis Health and 49% by Meross Medical Beauty when established, primarily providing long life health services in China.

The initial registered capital of the joint venture company is RMB 1,000,000, to be contributed by Chalkis Health and Meross Medical Beauty in proportion to their respective equity interests in the joint venture company. The contributed funds will mainly be used as operating capital for the joint venture company.

The Board of Directors believes in the vast prospects of the health and longevity science market as affluent customers worldwide are more willing to accept and spend on longevity science applications to enhance their overall health and immunity, and promote their physical rejuvenation. The establishment of the joint venture company aligns with the group's strategy and plan for the development of its longevity science business, which will benefit the future business development of the group. The Board of Directors believes that the joint venture agreement further enhances the group's layout in the field of longevity science diagnostics and medical services, paving the way for the company to explore new sources of revenue in the longevity science field, aiming to bring more stable and sustainable revenue growth to the group in the long run.