CIRC (01763) shares climbed more than 5%, trading at HKD 17.13 as of the time of writing, with a turnover of HKD 1.494 million.
The company recently announced that it has entered into a shareholder agreement with CNNC Zhechuang to establish a joint venture named CNNC Fuzhi. The registered capital of the joint venture is RMB 50 million, with CIRC contributing RMB 45 million in a combination of non-monetary assets and cash, including RMB 26.6 million in cash and RMB 18.4 million in net assets from its Nuclear Medicine Development Center. CNNC Zhechuang will contribute RMB 5 million in cash.
Upon formation, CIRC and CNNC Zhechuang will hold 90% and 10% stakes in the joint venture, respectively, making it a non-wholly owned subsidiary of CIRC. The joint venture will take over the business of the Nuclear Medicine Development Center, focusing on the smart nuclear medicine industry. It aims to integrate the entire "nuclear medicine" value chain, foster a collaborative model of "smart nuclear medicine, radiopharmaceuticals, and equipment," and transition from a single-product supply to a full-value chain integrated service. This initiative is expected to drive standardization and smart transformation in the nuclear medicine sector, strengthen the company's leadership position, and cultivate new profit growth drivers.
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