Kintor Pharmaceutical Announces Exclusive Strategic Cooperation with Chicmax for Rapid Commercialization of Whitening Cosmetic Ingredient KT-939

Date: 17 March 2026
Companies Involved: Kintor Pharmaceutical Limited (Stock code: 9939), Shanghai Chicmax Cosmetic Co., Ltd. (Stock code: 2145)

Key Highlights

• Kintor Pharmaceutical’s wholly-owned subsidiary, Suzhou Kintor Pharmaceuticals, has entered into an exclusive strategic cooperation framework agreement with Shanghai Chicmax Cosmetic Co., Ltd.
• The collaboration focuses on the rapid commercialization of KT-939, an innovative whitening and freckle-removing functional cosmetic raw material.
• This agreement is exclusive to both parties in the cosmetics sector and aims to register KT-939 as a new cosmetic ingredient, as well as to register cosmetic products featuring KT-939 as the main ingredient.
• The partnership will also jointly support R&D and customization of functional raw materials, positioning KT-939 as the “ultimate domestic whitening agent” with significant industry influence.

Strategic and Financial Implications

• Kintor plans to use the cash flow generated from the commercialization of KT-939 to fund the development and commercialization of its core pipeline products, namely KX-826 and GT20029, and other products.
• The company reaffirms that it will remain focused and consistent with its core listing business while leveraging this new source of revenue.
• Chicmax, as a multi-brand beauty company with over 20 years of operational history, brings robust R&D, supply chain management, and strong sales and distribution networks, as well as a portfolio of popular brands, including KANS, newpage, ARMIYO, and Baby Elephant.
• Both companies confirmed that they are independent third parties to each other, with no connected parties involved as per Hong Kong Listing Rules.

Potential Impact for Shareholders

• This Framework Agreement is expected to deliver high strategic synergy, leveraging Chicmax’s commercialization expertise and Kintor’s innovative R&D capabilities.
• The collaboration is anticipated to accelerate the commercialization process for KT-939, supporting simultaneous launches of both the cosmetic ingredient and related end products in the market.
• Investors should note the potential for increased revenue streams from the KT-939 business, which could positively impact Kintor’s overall financial position and support the company’s core R&D pipeline.
• The agreement also involves technology sharing, intellectual property protection, and joint market promotion, which could enhance the technological sophistication and market competitiveness of domestic whitening ingredients.
• The Board believes the cooperation will promote sustainable development and steady growth for Kintor, with the terms and conditions deemed fair, reasonable, and in the interests of shareholders as a whole.
• Shareholders and potential investors are advised to exercise caution when dealing in the shares of Kintor Pharmaceutical, as this development is likely to be price sensitive and may impact the company’s share value.

Leadership and Governance

The announcement was made under the authority of Dr. Youzhi Tong, Chairman of the Board, Executive Director, and Chief Executive Officer of Kintor Pharmaceutical. The Board consists of experienced executive, non-executive, and independent non-executive directors, ensuring robust governance over the company’s strategic direction.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors are urged to conduct their own due diligence and consult with their financial advisers before making any investment decisions. The company’s future performance may be subject to various risks and uncertainties, and actual results may differ from forward-looking statements contained herein.

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