Baijin Life Science (HKG:1466) said its unit, Beijing Baijin Biotechnology, signed a cooperation framework agreement with Shanghai Guhuan Medical Equipment to support the expansion of its medical products business, according to a Monday Hong Kong bourse filing.

Shares of the company were down nearly 2% in Tuesday morning trade.

Under the framework, Beijing Baijin plans to invest in Guhuan Medical through an equity subscription and work with the company to develop branded medical product sales channels for Baijin's self-operated stores.

The agreement runs through Dec. 31, 2026, and may be terminated by either party with 10 days' notice.

Guhuan Medical has operated in the medical-product supply chain for more than a decade and holds stakes in over 30 medical cosmetic institutions, the filing said.