Kingdom Holdings (00528) said it notes that in an announcement published by Creso Pharma Limited, a company listed on the Australian Stock Exchange (ASX: CPH), regarding the entering into a strategic partnership and commercial distribution agreement by Creso with Zhejiang Kingdom Creative Co., Ltd for the distribution of certain healthcare therapeutics and products across the People's Republic of China, it was incorrectly stated that Kingdom Creative was a subsidiary of Kingdom Holdings.
Kingdom Holdings clarified that Kingdom Creative is a joint stock company established in the PRC with limited liability which is owned as to 69.3% by Ren Weiming, the chairman of Kingdom Holdings, and has a diversified investment portfolio including retail business, banking, finance leasing and biotechnology companies. Kingdom Creative is not a subsidiary of Kingdom Holdings and does not form part of the Group. Kingdom Holdings has no intention to enter into any agreement with any third party for distribution of healthcare therapeutics and products across the PRC.
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