By Fineline Cube 
Shanghai Haohai Biological Technology Co., Ltd. (HKG: 6826, SHA: 688366) announced the termination of its exclusive distribution agreement for OK lens products with Brighten Optix Corporation. The termination follows Carl Zeiss Vision International GmbH’s plan to acquire 100% of Brighten Optix’s shares via share conversion, resulting in a change of control over Brighten Optix.
Background of the Agreement
The original agreement, signed in March 2021, granted Brighten Vision, Brighten Optix’s Shanghai branch, exclusive distribution rights for OK lens products, including “myOK” and “Beishide”, in mainland China until December 31, 2030. Haohai Biotech acted as the procurement platform. In addition, Haohai Biotech’s subsidiary, Shanghai Haohai Pharmaceutical Technology Development Co., Ltd., acquired a 55% stake in Brighten Vision for RMB 25 million, making it a consolidated subsidiary.
Post-Termination Arrangements
Prior to the formal termination, all parties will continue fulfilling their obligations under the agreements. Brighten Optix will pay Haohai Biotech a termination cooperation subsidy of RMB 80 million. Post-handover, all efforts will be made to facilitate Jinhengtai (Xiamen) Trading Co., Ltd., the minority shareholder of Brighten Vision, signing an equity transfer agreement to transfer its 45% stake. Brighten Vision will ultimately become a wholly-owned subsidiary of Haohai Development.-Fineline Info & Tech