Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
VOLUNTARY ANNOUNCEMENT ON STRATEGIC COOPERATION
On 11 September 2020, the Company entered into a strategic cooperation agreement (the "Agreement") with MJ Health Care Co., Ltd. ("MJ Health Care"), under which the parties agreed to have comprehensive cooperation (the "Cooperation") in the development, application and promotion of advanced medical technologies and medical products.
The scope of the Cooperation is three-fold:
-
Research and development
MJ Health Care has access to the "China-Cambodia Deep Frontier Biotechnology Base" (中柬縱深前沿生物科技基地), which is favoured by government policies and the Belt and Road Initiative and has resources to large-scale GMP laboratories, clinical
translational application hospitals, and the "Cambodia-China Nonhuman Primate Laboratory Animal Strategic Resource Reserve Base (柬中非人靈長類實驗動物戰略資 源儲備基地)". Leveraging on the aforesaid favorable conditions, the parties plan to carry out in-depth cooperation in the fields of gene and stem cell life science research, modern clinical medical technology research and development and innovative medicine research and development. - Marketing
The parties will share their respective resources and channels and jointly carry out market promotion of genetic testing, stem cell therapy and medical services. The parties will also explore the development of an online health service platform which facilitates resource sharing among customers and access to third party medical institutions, thereby building a medical service ecosystem.
- 1 -
(3) Capital operation
The parties will seek opportunities for in-depth cooperation in future, such as equity acquisitions and capital raising, with terms and conditions subject to further agreement between the parties.
The Cooperation has a term of three years from the date of the Agreement.
INFORMATION ON THE PARTIES
The Company
The Company is an investment holding company and its subsidiaries are principally engaged in healthcare products and services business, money lending business and securities trading and investment business.
MJ Health Care
MJ Health Care is a company established in the Kingdom of Cambodia and is an affiliate of Shenzhen Zongshenyin Technology Co., Ltd. (深圳縱深垠科技有限公司). MJ Health
Care is the operating agency of the Sino-Cambodian Zongshen Frontier Biotechnology Base "Stem Cell Clinical Research and Comprehensive Application Base" (中柬縱深前沿生 物科技基地 - "幹細胞臨床研究與綜合應用基地"). MJ Health Care is principally engaged
in storage and preparation of stem cell, stem cell therapy, targeted therapy, medical mask production, health training and other services.
To the best knowledge, information and belief of the Directors, after reasonable enquiries, MJ Health Care and its ultimate beneficial owners are independent of and not connected with the Company or any of its connected persons.
REASONS AND BENEFITS OF THE COOPERATION
The collaboration with MJ Health Care will give full play to the technological strength and resources of the Group in the medical and health industry. Giving full play to their respective advantages, the Cooperation will provide channels and opportunities for the Group to develop cutting-edge medical technologies and products and will also provide a venue for the Group to promote its products and services through the development of a medical service ecosystem. The Directors consider that the Cooperation is being carried out in the ordinary and usual course of business of the Group, on normal commercial terms and are in the interests of the Company and the shareholders as a whole.
- 2 -
This announcement is made by the Company on a voluntary basis.
By order of the Board
Life Healthcare Group Limited
Xu Xueping
Executive Director
11 September 2020
As at the date of this announcement, the Board comprises:
Executive Directors: | Independent Non-executive Directors: |
Mr. Xu Xueping (Chairman) | Mr. Liu Xinghua |
Mr. Man Wai Lun | Mr. Cheng Chun Man |
Mr. Yang Zhiying | Ms. Zheng Xin |
Non-executive Directors: | |
Ms. Shan Hua | |
Ms. Fu Xiaoji |
- 3 -
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
Life Healthcare Group Limited published this content on 11 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 September 2020 13:49:02 UTC