ELIFE HLDGS (00223) announced the formation of an Independent Board Committee comprising all independent non-executive directors with no direct or indirect interest in the partial offer. The committee, consisting of Mr. Lin Qiucheng, Mr. Wang Anxin, and Mr. Hu Guocai, was established under Rules 2.1 and 2.8 of the Takeovers Code to advise eligible offeree shareholders on the fairness and reasonableness of the partial offer terms and whether to accept the offer.

Additionally, the Board appointed Grant Thornton Capital Limited, a licensed corporation under the Securities and Futures Ordinance authorized to conduct Type 1 (dealing in securities) and Type 6 (advising on corporate finance) regulated activities, as the Independent Financial Advisor. The advisor will provide recommendations to the Independent Board Committee regarding the partial offer, particularly on the fairness of its terms and the advisability of acceptance.