JIN MEDICAL INTERNATIONAL LTD. (the "Company" or “JinMed”) (NASDAQ: ZJYL), a Cayman Islands holding company with Chinese operating entities that manufacture and develop wheelchairs and living aids products, today announced the signing of a preliminary Memorandum of Understanding (MOU) with Jiangsu Zhongjin Kanglu Information Technology Co., Ltd. ("Zhongjin Kanglu") to acquire all or a partial stake in Zhongjin Kanglu.
According to the MOU, the Company will conduct a comprehensive due diligence process to evaluate and determine the feasibility and potential value of the acquisition. It is expected that the due diligence will be completed by December 31, 2023.
It is expected that commencing from March 2024, the parties will enter into detailed negotiations for the potential acquisition. Investors should exercise caution as there is no certainty that the potential acquisition will be completed.
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