Leading Pharmaceutical Biotechnology plans to acquire all equity of Conflux to expand its blockchain technology field

Listed company Leading Pharmaceutical Biotechnology Co., Ltd. (00399) announced the signing of a memorandum of understanding to acquire all equity of the target company, provided that the target company completes the acquisition of Conflux blockchain related assets. The price for this 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 transact with any other party regarding the equity of the target company. Leading Pharmaceuticals hopes to expand its business into the field of blockchain technology through this acquisition, achieve business diversification, and seek new profit growth points. But the transaction still needs to sign a formal agreement before it can be implemented, and relevant announcements will be released in a timely manner according to the listing rules. Shareholders and investors need to act cautiously. It is reported that Hong Kong stocks will be closed for one day today due to the anniversary of the establishment of the Hong Kong Special Administrative Region.