astrocityarcade| Shengxiang Biotech (688289.SH): Plans to invest in Hunan ShengweiSumin with related parties and transfer the equity of FirstLight, a joint-stock company

Gelonghui May 8 丨 Shengxiang Biotech (688289astrocityarcade.SH) Announcementastrocityarcade, plans to jointly invest in the joint venture company Hunan ShengweiSumin Biotechnology Co., Ltd.(referred to as "Hunan ShengweiSumin") with the related party Hunan Xiangjiang Shengxiang Biological Industry Fund Partnership (Limited Partnership), of which the company's total investment amount is RMB 53.33 million yuan. At the same time, the company plans to invest in FirstLight Diagnostics,Inc. (referred to as "FirstLight") was transferred to a wholly-owned subsidiary of the joint venture company at a transfer consideration of US$2,215,835. In the future, we will rely on the joint venture company as an overall operation to further focus on the field of rapid drug sensitivity testing and accelerate the promotion of industrial research, application development and commercial transformation.