Innovative Phar (00399.HK) disclosed on November 12 that on November 12, 2024, as an investor, the company has entered into a memorandum of understanding with the target, indicating the company's intention to invest in the potential investment of the majority of the target's equity.
The target is a limited company registered in Delaware, USA, mainly engaged in: (a) developing an AI-driven virtual health platform SyncWell, integrating and analyzing dispersed health data through AI applications to provide personalized real-time advice to users; (b) developing innovative brain neurotechnology service platform DeepSynaps, focusing on improving cognitive health and performance through advanced AI-driven diagnostics and data analysis, providing insights into brain function to actively manage mental health and enhance cognitive abilities for individuals and institutions; (c) incorporating patented photobiomodulation technology into sportswear to enhance muscle recovery and improve athletic performance, using light therapy to stimulate mitochondrial cell processes at specific wavelengths, promoting healing to repair mitochondrial functional disorders, increase blood flow, reduce inflammation, and generate more cellular energy adenosine triphosphate or ATP; and (d) developing computer chips that integrate (i) quantum computing; (ii) photonics computing; (iii) neuromorphic processing; and (iv) artificial intelligence, revolutionary AI chips that simulate brain neural networks, using photons instead of electricity for faster and more efficient processing, applied in AI fields such as autos, medical care, fintech, with the potential to significantly replace current GPU AI chips. In addition to the computer chip business, the target's other businesses have entered the commercialization stage.
The group is committed to seeking business opportunities and intends to acquire high-quality businesses with good growth potential and complementary to the group's business to diversify and strengthen the group's sources of income and enhance shareholder value. Considering the target's main business and the corresponding stages mentioned above, the board of directors believes that the potential investment and formal agreement represent strategic initiatives for the group to develop its business and expects long-term cooperation with the target. This will not only help further diversify the group's business, but also expand and generate synergies with the group's existing businesses, and is expected to bring new profit growth points to the group.
