Zhitong Financial APP, Jiading International Group (08153) issued an announcement that on August 15, 2023, a wholly-owned subsidiary of Weishi (Shenzhen) New Energy Technology Development Co., Ltd. entered into an agreement with the seller (Shenzhen New Jiahe Investment Co., Ltd.) to acquire 51% of the target company, with a consideration of 5.1 million yuan upon completion.
The target company is Zixing Health Technology (Shenzhen) Co., Ltd., a company registered under Chinese law on March 21, 2023, mainly engaged in research, production and sales of health products in China. The net asset value of the target company as at July 31, 2023 is about 10.2 million yuan.
According to the announcement, the target company is mainly engaged in the research, production and sale of health products through the use of small molecular oligopeptides, graphene and far-infrared light wave technology. Its products include small molecular oligopeptide health products and graphene far infrared energy room. The Board has been actively looking for business opportunities to improve the Group's performance and enhance shareholder returns. The board of directors believes that the acquisition provides a good opportunity to enter China's fast-growing health products industry.