Advanced Biomed Inc. has entered into a supplemental agreement related to the previously disclosed sale of its wholly owned subsidiary, Advanced Biomed (HK) Limited, to Wei Ha Hui. As part of the updated terms, Advanced Biomed (HK) Limited has acknowledged owing the parent company $6,925,549, reflecting outstanding accounts receivable as of the agreement dates. Under the new arrangement, Advanced Biomed (HK) Limited has agreed to repay the debt in full within one year of the supplemental agreement. The company’s board of directors has unanimously approved the supplemental agreement and the related transaction.
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