Kangtai Biotech: Termination of Joint Venture Establishment with AstraZeneca

Kangtai Bio announced on February 6th that the company had planned to establish a strategic partnership with AstraZeneca Investment Limited to focus on vaccines and set up a joint venture in Beijing Economic-Technological Development Area. The total investment of the joint venture company is expected to be around 400 million US dollars, with the company and AstraZeneca each holding 50% of the shares. Due to the drastic changes in the market environment and the significant downward pressure faced by the industry, the risks of investing in the vaccine industry have increased. After careful evaluation and negotiation by all parties, it was decided to terminate the "Economic Development Cooperation Agreement," "Terms List," and the establishment of a joint venture company for foreign investment.