Haina Pharma Intends to Acquire Full Ownership of Conflux, and Both Parties Have Entered into a Memorandum of Understanding

BlockBeats News, July 1st, Hong Kong-listed company Sino Biopharmaceutical Limited (00399) announced that on June 30, 2025, the company (as the buyer) had entered into a Memorandum of Understanding with the seller (Northwestern Foundation) and Conflux regarding the potential acquisition of the target company's entire equity, subject to the target company completing the acquisition of Conflux assets pursuant to an agreement with the company.

Conflux is a limited company registered in Hong Kong, China, mainly engaged in blockchain technology development. The target company is intended to be a limited company to be registered in the Cayman Islands by the seller and wholly owned by the seller. The company is actively exploring new business opportunities to diversify its sources of revenue, implementing a strategic plan to enhance performance, and planning to expand its business into blockchain technology, entering the digital innovation industry.

Entering into the Memorandum of Understanding indicates the company's commitment to enter the digital innovation industry through the potential acquisition, to develop this new business segment. The company believes that this move will not only diversify the group's business but also bring new profit growth drivers to the group.