Frontage Holdings to acquire clinical research lab for RMB270 million

Frontage Holdings Corporation, through its wholly-owned subsidiary Frontage Shanghai, has agreed to acquire the entire issued share capital of a clinical trial services company for a total consideration of RMB270,000,000. The acquisition, formalized on October 10, 2025, involves Hangzhou Tigermed and Jiaxing Xinge as vendors. The Target Company, a joint stock company in the PRC, specializes in clinical trial technical, related, and laboratory services. It will become a wholly-owned subsidiary of Frontage Holdings upon completion, consolidating its financial results.

The RMB270,000,000 consideration will be paid by Frontage Shanghai in cash, with RMB156,427,470 for Sale Shares I from Hangzhou Tigermed (57.94%) and RMB113,572,530 for Sale Shares II from Jiaxing Xinge (42.06%). The funding for the acquisition will comprise 20% from the Group's internal resources and 80% through a bank acquisition loan. The acquisition is classified as a major and connected transaction under Listing Rules, requiring independent shareholders' approval.

As of the announcement date, Hangzhou Tigermed is the controlling shareholder of Frontage Holdings, holding approximately 64.57% of total issued shares. The Target Group's unaudited total assets and net assets were approximately RMB280,093,000 and RMB209,523,000, respectively, as of June 30, 2025. This acquisition aims to enhance Frontage's global laboratory service capabilities and strengthen its presence in China and the Asia-Pacific region.