Shanghai Haohai to acquire stake in bio-engineering tech firm

Shanghai Haohai Biological Technology Co., Ltd. and an individual co-buyer entered a Share Purchase Agreement on December 12, 2025, to acquire approximately 22.2554% equity interest in Jiangxi Ruiji Bio-engineering Technology Co., Ltd. from two individual sellers. Shanghai Haohai will acquire 19.8000% equity for RMB38,351,487.36, and the co-buyer will acquire 2.4554% equity for RMB4,755,979.05, with completion anticipated in three stages between 2025 and 2026.

The acquisition is a connected transaction, as Ms. You Jie, a non-executive director and controlling shareholder of Shanghai Haohai, holds approximately 21.6910% in the target company. The applicable percentage ratios for the acquisition are between 0.1% and 5%, subjecting it to reporting and announcement requirements but exempting it from circular and independent shareholders' approval.

The consideration of RMB4.53 per share was determined through negotiations, referencing the target company's pre-delisting NEEQ trading price. The acquisition aims to allow Shanghai Haohai to enter the high-value medical device market of biological amniotic membranes, complementing its existing product mix and leveraging the target company's human-derived biological characteristics for regenerative medicine and tissue engineering.