Sh Pioneer Hldg (01345.HK) announced that its subsidiary, Chongqing Qiu Shan Medical Instrument Co., Ltd. ("Chongqing Qiu Shan"), has received RMB 9 million cash financing from Guoyao Shengkang Hunan Pharmaceutical Co., Ltd. ("Guoyao Shengkang Hunan") recently. After full payment, Guoyao Shengkang Hunan will obtain a certain percentage of shares in Chongqing Qiu Shan and will have the exclusive sales rights of Q3 medical innovative products in the medical service field in Hunan Province, China. Guoyao Shengkang Hunan is a professional promotion service enterprise focusing on prescription drugs, medical devices, consumables, and innovative medical management in the academic marketing and hospital terminals in Hunan Province, China.
This financing strongly demonstrates the market's full confidence in the prospect of Q3 medical innovative products before launching. The company also commits to continuing to introduce cooperation partners with rich market experience in other regions of China, and is expected to obtain further cash financing in the future. The funds raised will be used for the registration and manufacture of Q3 medical innovative products in China. The company believes that this financing is conducive to the stable business growth of the company and its partners.