KINGWORLD(01110.HK): Connected Party Jinchen Signs R&D MOU with Dongguan Hospital of Traditional Chinese Medicine, Company Granted Exclusive Distribution Rights
NewTimeSpace News: Kingworld Medicines Group Limited (01110.HK) issued a voluntary announcement on June 11, 2026. Jinchen Pharmaceutical Limited, held by Mr. Zhao Lisheng, Chairman, and Ms. Chen Leshen, Executive Director of the Company, entered into a research and development memorandum of understanding with Dongguan Hospital of Traditional Chinese Medicine. The two parties intend to cooperate on clinical research, regulatory registration and commercialization of Callicarpa Leaf Lotion and Modified Gastrodia Brain-Tonifying Formula. The products will be launched in phases. In the initial stage, they will be registered as proprietary Chinese medicines under the HKC category in Hong Kong, and subsequent drug registration applications will be submitted in mainland China subject to relevant regulatory requirements.
On the same day, Jinchen executed a distribution memorandum of understanding with the Company, intending to appoint the Company and/or its wholly-owned subsidiaries as the sole and exclusive distributor of the products across all distribution channels including Hong Kong, mainland China and cross-border e-commerce. Jinchen undertakes not to appoint any third-party distributors within the agreed scope.
As Jinchen is a connected person of the Company, the proposed transactions under the distribution memorandum of understanding will constitute connected transactions. Neither the R&D memorandum of understanding nor the distribution memorandum of understanding is legally binding, and they shall only take effect upon the signing of formal definitive agreements.
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