Gelonghui May 17 丨 Kanglong Chemical Industry (300759beercade.SZ) announcedbeercade, PROTEOLOGIX intends to sell PROTEOLOGIX in its entirety to Johnson&Johnson (referred to as the "Buyer") through a merger and acquisition. The company is a shareholder of ProteologixbeercadeAfter a comprehensive analysis of the biopharmaceutical market, the core technologies and operating conditions of the target company, we intend to agree to the overall sale arrangement of the target company, and cooperate with Proteologix to transfer the entire equity of Proteologix directly held by Kanglong Hong Kong Investment Company at a consideration of approximately 1.beercadeUS$.02.1 billion was transferred to the buyer and relevant transaction documents were signed.

This transaction is an overall sale of PROTEOLOGIX. All existing shareholders sell their equity to the buyer at the same price. It does not involve waiving the right of priority transfer, and does not involve the company's transfer of resources, obligations or benefits to related parties. This matter does not constitute a connected transaction or a major asset reorganization as stipulated in the Measures for the Management of Material Asset Reorganization of Listed Companies. The ownership of the equity subject matter of the transaction is clear, and there are no legal obstacles to equity transfer.