Cowin Biotech: Plans to acquire minority shareholder equity in its controlling subsidiary for 17.885 million yuan

Cowin Biotech announced that the company plans to acquire 49% of the equity held by minority shareholder Shanghai Tianhao Biotechnology Co., Ltd. in its controlling subsidiary Shanghai Haowei Tai Biotechnology Co., Ltd. for a consideration of 17.885 million yuan. Upon completion of the acquisition, Haowei Tai will become a wholly-owned subsidiary of the company. This transaction constitutes a related party transaction but does not constitute a major asset reorganization. The purpose of this transaction is to strengthen subsidiary management, improve operational decision-making efficiency, and enhance the overall profitability and competitiveness of the company. The transaction has been reviewed and approved by the company's board of directors and independent directors, and does not require approval from the shareholders' meeting