Zhong Ji Longevity Science Group (HKG:0767) said it has agreed to dissolve three joint ventures in mainland China amid shifting market conditions, according to a Hong Kong bourse filing released Wednesday.

Shares of the company soared 12% in Thursday morning trade.

The three joint ventures set up between February and November 2024 aimed to explore biomedical trading, chronic disease treatment technologies, and longevity health services.

All were either non-operational or have ceased operations, the company said, adding that the dissolutions were mutually agreed upon with counterparties and would not materially impact its financials.

In a separate disclosure, the group said its unit Zhongli (Hainan) Life Science Technology on July 2 signed a deal with Beijing Sanyouli Heze Biotechnology to jointly advance a dental pulp stem cell injection therapy for periodontitis in the Boao Lecheng International Medical Tourism Pilot Zone in Hainan, China.

Zhongli will act as the designated promoter of the therapy, handling publicity, commercialization, and global market expansion alongside Beijing Sanyouli and its partners.

Beijing Sanyouli, which specializes in stem cell R&D, has completed Phase I clinical trials of the treatment, according to the filing.

Zhong Ji said the collaboration aligns with its goal of building a life sciences platform and expanding in longevity diagnostics and health services.