Progress update on the reverse takeover process between Qlife and Hipro

Gothenburg, Sweden - Qlife Holding AB (“Qlife” or the “Company”) and Hipro Biotechnology Co., Ltd. (“Hipro”) remain fully committed to completing the transaction announced in the Letter of Intent signed on 5 June 2025 and Hipro is working on the next steps involving certain formal processes in China required by Chinese law needed prior to signing the Share Purchase Agreement (SPA). Signing of the SPA is expected before year-end.

Following the announcement of the Letter of Intent on 5 June 2025, Qlife and Hipro have intensified their collaboration with the shared goal of completing a reverse takeover of Qlife by Hipro. Workstreams are progressing steadily, including preparation of required transaction documentation. Hipro is working on the next steps involving certain formal processes in China required by Chinese law needed prior to signing the Share Purchase Agreement (SPA). The expectation is that the SPA is signed before year-end.

During the summer, Hipro and Qlife have had numerous interactions including a several day’s high-level meeting in Copenhagen in June involving both Hipro’s majority shareholder/CEO and management team as well as Qlife’s Board and management. The parties’ commitment and the strategic rationale for the transaction was evident from the meeting and both Qlife and Hipro remain fully aligned in their intent to execute the transaction as outlined in the LOI.

“It was an utmost pleasure to visit the Qlife team and board in Copenhagen a few weeks ago. Our vision in the joint project ‘OneFamily’ was fully reflected at the meeting, confirming our shared goal and commitment to mutual success. We have now initiated the stream of internal Chinese processes necessary for moving towards realizing the merger”, says Shushun Hao, CEO and founder of Hipro.

For more information about the intended terms of the transaction, please refer to the press release that was published on 5 June 2025 “Qlife Holding AB: Qlife enters letter of intent with Hipro Biotechnology Co., Ltd. to join forces through a reverse takeover”.

Further updates will be communicated as the process advances.