Leading Pharmaceutical Biotech plans to acquire all shares of Conflux to expand into blockchain technology

Odaily Planet Daily News: Hong Kong-listed company Leading Pharmaceutical Biotechnology Co., Ltd. (00399) announced the signing of a memorandum of understanding, planning to acquire all the equity of the target company, provided that the target company completes the acquisition of Conflux blockchain-related assets. The price of the acquisition will be paid in cash, company shares or convertible bonds, and the specific amount will be determined in the formal agreement. The memorandum of understanding is valid for 12 months, during which the seller shall not negotiate or trade with other parties regarding the equity of the target company. Through this acquisition, Leading Pharmaceuticals hopes to expand its business into the field of blockchain technology, diversify its business and find new profit growth points. However, the transaction still needs to be implemented after the signing of a formal agreement. The relevant announcement will be issued in due course in accordance with the listing rules, and shareholders and investors need to act with caution.