Huhhot Xinheng Baide Acquires Raw Bovine Serum Collection Center In China

Huhhot Xinheng Baide, a subsidary of Bio-Bridge Science, has acquired a raw bovine serum collection center in Beian City, China, by purchasing serum production equipment at the facility. The total purchase price for acquisition is RMB280,000.

Xinheng Baide can lease the manufacturing facility without cost for 10 years from the date of signing the purchase agreement, as part of the terms of acquiring the equipment from the owner.

Beginning from the eleventh year, the annual rent will be RMB20,000.The purpose of acquiring a bovine serum collection center in Beian City is to diversify the sources of raw bovine serum and to lower raw material costs, said the company.

Liang Qiao, Chairman and CEO of Bio-Bridge Science, said: “We are pleased to see the acquisition of a raw bovine serum collection center by Xinheng Baide. The current main strategy of Xinheng Baide is to increase sales while reducing the raw material costs to reach maximum profits. We expect to see the results of these efforts by Xinheng Baide in the years to come.”