Ping An Biomedical Co., Ltd. has entered into a non-binding memorandum with Future Biotechnology Group, committing an initial US$30 million cash investment and a further US$60 million in combined cash and share issuances. The Consideration Shares will be escrowed and released over a three-year evaluation period from January 2026 to December 2028, contingent on audited revenue targets of at least RMB 750 million in 2026, RMB 1.3 billion in 2027 and RMB 2.3 billion in 2028. If performance falls short in any period, up to one-fifth of the total shares allocated for that period will be cancelled; conversely, revenue exceeding targets by more than 50% may offset prior shortfalls. This structure aligns incentives and underpins Ping An Bio’s strategy to integrate biopharmaceutical R&D, clinical translation and industrial resources to accelerate technology commercialization and bolster long-term growth in the biopharma sector.

Ping An Bio secured strategic participation from three industry leaders: Yao Jinbo, Chairman and CEO of 58 Group; Wang Donghui, Founder and Managing Partner of Amiba Capital; and Li Daxue, former Senior Vice President of JD.com and Chair of Magcloud Group. Yao brings a track record of RMB 662 million invested in pharmaceuticals over the past year; Amiba Capital manages RMB 5 billion in funds and has backed unicorns such as Meituan and Didi; Li contributes deep expertise in platform operations and industrial scaling. Their combined influence is expected to strengthen Ping An Bio’s technology strategy, capital planning and ecosystem development, supporting its ambition to become a technology-driven global leader in biopharmaceutical innovation.