Linghang Pharmaceutical Biotechnology plans to acquire 100% equity of Conflux to enter the blockchain field and expand its diversified business

ChainCatcher news, Hong Kong-listed company Pioneer Pharma Biotechnology Limited (00399) announced the signing of a memorandum of understanding, planning to acquire 100% equity of a target company, provided that the target company completes the acquisition of Conflux blockchain-related assets. The acquisition consideration will be paid in cash, company shares, or convertible bonds, with the specific amount to be determined. The memorandum of understanding is valid for 12 months, during which the seller shall not negotiate with third parties regarding the equity of the target company. This move aims to help Pioneer Pharma expand its blockchain technology business, achieve business diversification, and seek new profit growth points. The transaction is subject to the signing of a formal agreement before it can be finalized.