Jointown subsidiary joins industrial fund to boost biotech investments

Jointown Pharmaceutical Group's indirectly controlled subsidiary, Beijing Jiuzhou Zhongchuang Technology Incubator Co., Ltd., will commit CNY 1,000 to the Wuhan Chuchang Tongda Industrial Investment Fund Partnership (Limited Partnership). This investment, representing 7.14% of the fund's total capital, aims to foster innovation in medical devices, consumer healthcare, life sciences, and biopharmaceuticals. The fund, with a total subscribed capital of CNY 14,000, will primarily target growth and mature-stage projects.

The establishment of the fund involves related parties: Beijing Chuchang Private Equity Fund Management Co., Ltd. and Beijing Dianjin Investment Co., Ltd. These entities are indirect subsidiaries of Jointown's controlling shareholder, Chuchang Investment Group Co., Ltd., with Beijing Dianjin also holding over 5% of Jointown's equity. This joint investment constitutes a related party transaction.

The investment, sourced from Jointown's own capital, is expected to enhance the company's core competitiveness and long-term sustainable development by leveraging industry resources and building an incubation platform in Wuhan's life and health industry.