Ringpu Bio to acquire majority stake in Zhongrui Supply Chain

Tianjin Ringpu Bio-Technology (SZSE:300119) announced plans to acquire a 56.3129% stake in Tianjin Zhongrui Supply Chain Management Co., Ltd. for 103.62 million yuan ($14.13 million USD). The seller is Ruipet Pet Hospital Management, a related party due to shared ownership by Ringpu Bio's chairman. The acquisition, pending shareholder approval, will bring Zhongrui Supply Chain under Ringpu Bio's consolidated financial statements. Zhongrui Supply Chain distributes veterinary products to over 7,000 animal hospitals and 3,400 pet stores across China. Ringpu Bio stated the acquisition aligns with its strategy to expand its presence in the pet healthcare market. The transaction price is based on an independent valuation pegging Zhongrui Supply Chain's equity value at 184 million yuan ($25.28 million USD).