Ping An Biomedical Co., Ltd.

Ping An Biomedical Co., Ltd. is a holding company incorporated in the Cayman Islands, focusing on the knitwear business. The company's principal executive offices are located in Hong Kong. It was launched in 2013 through Multi Ridge, a Hong Kong company, which then established New Brand in 2014 as its wholly-owned subsidiary in the PRC. New Brand has since focused on providing apparel Supply Chain Management (SCM) services in China. The company was incorporated on November 3, 2021, and subsequently incorporated Nifty Holdings Limited, a British Virgin Islands company, as its wholly-owned subsidiary. Through Nifty, the company acquired all shares in Multi Ridge. This was part of a reorganization where 10,351,125 Shares were issued to Action Holdings Limited, and 561,375 Shares were issued to Ms. Lok Yi Lui Jeanne and 337,500 Shares to Mr. The company is part of a larger group founded in the 1980s by its Controlling Shareholders, who beneficially own 85.1% of its issued share capital. This group, initially a garment manufacturing business in Hong Kong, has grown into a conglomerate with operations in Hong Kong, other parts of China, Cambodia, and Europe, involved in various businesses including garments trading and manufacturing, real property investment, and warehousing.