Changes in Hong Kong stocks | Kaituo Pharmaceutical-B (09939) rose nearly 9%, and the subsidiary signed a strategic cooperation framework agreement with Shanghai Kangmei on KT-939

The Zhitong Finance App learned that Kaituo Pharmaceutical-B (09939) rose by nearly 9%. As of press release, it had risen 6.35% to HK$2.01, with a turnover of HK$1.8253 million.

According to the news, on August 5, Suzhou Kaituo, a subsidiary of Kaituo Pharmaceutical, established a strategic partnership with Shanghai Kangmei, a subsidiary of Libao Kangmei, to cooperate in the fields of application transformation, formulation research and development, process verification, and ODM/OEM manufacturing of the effective ingredient KT-939 in the cosmetics field to jointly promote the standardized application and industrialization of related innovative achievements in the cosmetics field. Suzhou pioneered effective raw materials and related R&D technology, and Shanghai Kangmei leverages cosmetic formulation development, sample trial production, process scaling, quality management and large-scale manufacturing capabilities.

This time, a framework agreement was signed with Shanghai Kangmei to establish a long-term and stable strategic partnership, give full play to the complementary advantages of the two sides in the fields of innovative raw material research and skin care product development and manufacturing, and promote the market transformation and business layout expansion of KT-939, an effective cosmetic ingredient.