Sino-Life Group (08296) announced that on July 29, 2024, the company and Zhongke Xunda (a wholly-owned subsidiary of the company) entered into an equity transfer agreement with Nanyue Assets. According to the equity transfer agreement, the company and Zhongke Xunda conditionally agreed to acquire the Guangdong Yinwei Micro-Jiao Equity (equivalent to about 19.46% equity of Guangdong Yinwei Micro-Jiao) invested by Nanyue Assets, with a maximum price of RMB 10.8 million. The payment will be made through the issuance of convertible bonds to Nanyue Assets or its designated persons according to special authorization. After the completion of the equity transfer agreement, Zhongke Xunda will hold about 19.46% equity of Guangdong Yinwei Micro-Jiao.
Guangdong Yinwei Micro-Jiao was founded by a professional team of scientists from China's top-level biophysics institutions in 2015. Guangdong Yinwei Micro-Jiao is mainly engaged in the research and development of biochips, high-throughput sequencing, big data cloud computing analysis, and personalized medical advisory services. In recent years, Guangdong Yinwei Micro-Jiao has achieved great success in the research and development of biochip detection for various diseases such as tumors, cardiovascular and cerebrovascular diseases, diabetes, and the nervous system. The director believes that the acquisition can further enhance the group's research strength and innovation ability in the field of biotechnology, enrich the group's product line, and bring synergies to the group's existing business. It is expected that the realization of the sales of Guangdong Yinwei's biochip products can achieve the company's investment return and improve the group's financial performance, with the aim of maximizing shareholder returns.