Haoxi Health Technology Limited announced that Beijing Haoxi Digital Technology, a wholly-owned subsidiary of the Company, entered into a bidding data promotion rebate agreement on April 29, 2024 with Jinan Yanling Biotechnology and its subsidiaries and affiliated companies. Pursuant to the Rebate Agreement, Haoxi Beijing has agreed to provide comprehensive advertising and promotion services to the Clients, which operate in biomedical drug development, health technologies and other healthcare-related industries. The Rebate Agreement sets up a rebate system whereby the Clients receive a rebate based on factors such as bidding data, industry relevance, delivery and business models, and adherence to the Rebate Agreement’s requirements and thresholds. The Rebate Agreement also sets a targeted advertising placement spend of no less than RMB50 million, approximately $7 million, within the term of the Rebate Agreement for the Clients.
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