Walvax Biotechnology (300142.SZ) plans to acquire a 2.4793% stake in Yuxi Watson for 359 million Yuan.

Walvax Biotechnology (300142.SZ) announced that its subsidiary Yuxi Walvax Biotechnology Technology Co., Ltd. (referred to as "Yuxi Walvax")'s minority shareholder Tianjin Lanwo Investment Partnership Enterprise (Limited Partnership) (referred to as "Tianjin Lanwo") intends to transfer its 2.4793% equity stake in Yuxi Walvax. The board of directors has agreed for the company to acquire this 2.4793% equity stake from Tianjin Lanwo, at a price of RMB 359 million, and have signed a "Yuxi Walvax Biotechnology Technology Co., Ltd. Equity Transfer Agreement" with Tianjin Lanwo. The announcement indicated that this acquisition will further increase the company's stake in Yuxi Walvax, enhance its control over the company, improve decision-making efficiency at Yuxi Walvax, and also be beneficial for increasing the company's income, profit levels, and overall performance.