Hile Bio-Technology increases stake in Ruisheng Bio to 96%

Shanghai Hile Bio-Technology Co., Ltd. has completed the acquisition of a 41% minority stake in its controlling subsidiary, Shaanxi Ruisheng Biotechnology Co., Ltd., for a transaction price of 399.3 million yuan. This acquisition followed approvals from Hile Bio-Technology's board of directors and general meeting.

The transaction involved an offset against a 399.3 million yuan payment due from Meilun Management Co., Ltd., negating the need for further cash payment by Hile Bio-Technology. Additionally, Meilun Management has pledged its remaining 4% equity in Ruisheng Bio and converted 50 million yuan into a guarantee for its performance commitments and impairment compensation obligations.

Following the completion of the equity transfer and industrial and commercial change registration, Hile Bio-Technology's ownership in Ruisheng Bio has increased from 55% to 96%. Ruisheng Bio remains a controlled subsidiary of Hile Bio-Technology.