Summary by Moomoo AI
XINYUI MEDICAL PHARMACEUTICALS INTERNATIONAL HOLDINGS LIMITED (XINYUI PHARMACEUTICALS) ANNOUNCED THAT ITS INDIRECT WHOLLY OWNED SUBSIDIARIES ZHEJIANG XINRUI BIOPHARMACEUTICALS PARTNERS A AND PARTNER B SIGNED A COOPERATION AGREEMENT ON MAY 24, 2024 TO INCREASE INVESTMENT IN SHENGZHOU XINYUANLIN ENTERPRISE MANAGEMENT CO., LTD. (TARGET COMPANY) AND PARTICIPATE IN OPERATIONS and management. The target company was established on 18 March 2024 with an initial registered capital of RMB 1 million and will increase to RMB34 million. Zhejiang New Biopharmaceuticals will invest approximately RMB13.26 million, paid for by the Group's internal resources. The investment will be treated as a financial asset at fair value and will not be integrated into the financial results of Novicea Pharmaceuticals. The target company will participate in the development of a health food industrial park in Shengzhou, Zhejiang Province, China, including the acquisition of land use rights and development related facilities. This cooperation agreement constitutes a disclosable transaction pursuant to Chapter 14 of the Listing Rules.