Sino Biopharmaceutical (HK:1177) has released an update.
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Sino Biopharmaceutical is set to acquire a 29.99% equity interest in Hob Biotech Group, with a potential additional offer for 25.01%. The agreement includes profit undertakings for Hob Biotech, ensuring net profits of at least RMB49.70 million in 2024, with cash compensation required if targets aren’t met. This acquisition highlights Sino Biopharmaceutical’s strategic investment in the biotech sector, offering potential growth opportunities for investors.
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