Securities code: 688068 securities abbreviation: Beijing Hotgen Biotech Co.Ltd(688068) Announcement No.: 2022-006
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal responsibility for the authenticity, accuracy and integrity of its contents according to law.
Name of the established subsidiary: Hot view health Co., Ltd. (hereinafter referred to as “hot view health”) investment amount: US $5 million
This foreign investment does not constitute a connected transaction, nor does it constitute a major asset reorganization stipulated in the administrative measures for major asset reorganization of listed companies.
Relevant risk tips: after the establishment of overseas wholly-owned subsidiaries, they may face risks such as changes in the political and economic environment outside China in the actual operation process.
Based on the global strategic layout of Beijing Hotgen Biotech Co.Ltd(688068) (hereinafter referred to as ” Beijing Hotgen Biotech Co.Ltd(688068) ” or “the company”), to further meet the business development and nearby supporting needs in the Americas and other places, it is proposed to invest US $5 million in New York state to establish a wholly-owned subsidiary, thermal health. According to the regulations of the Listing Rules of the science and Innovation Board of Shanghai Stock Exchange and the articles of association, this foreign investment does not need to be submitted to the general meeting of shareholders for deliberation, does not involve related party transactions, and does not constitute a major asset reorganization specified in the administrative measures for major asset reorganization of listed companies. The establishment of subsidiaries by overseas investment is subject to the filing or approval of relevant administrative departments such as commerce and foreign exchange.
Chinese name of established subsidiary: rejing health Co., Ltd
English name of the established subsidiary: hotgen health Inc
Investment amount: USD 5 million
Executive Director: Zeng Wei
Registered address: Albany, New York, USA
Business scope: the main business is the R & D, manufacturing and sales of medical devices such as in vitro diagnostic products
Equity structure of established subsidiaries: Beijing Hotgen Biotech Co.Ltd(688068) holds 100% equity of rexing health
The company set up a wholly-owned subsidiary in the United States. The investment amount of hot view health is US $5 million, and the company invested US $5 million in cash with its own funds.
(I) purpose of foreign investment
Based on the company’s global strategic layout, this foreign investment further meets the business development and nearby supporting needs in the Americas and other places, deeply expands the overseas market and promotes the company’s global operation, which is in line with the company’s long-term development strategy and the interests of all shareholders.
(II) impact on the company
The company’s current financial situation is stable, and this foreign investment will not have an adverse impact on the company’s main business, sustainable operation ability and asset status. In the long run, it meets the company’s global strategic planning and business development needs, and plays a positive role in promoting the company’s products to further expand markets such as the Americas.
As foreign laws, policy systems, business environment and cultural characteristics are quite different from those in China, foreign wholly-owned subsidiaries may face risks such as changes in the political and economic environment outside China in the actual operation process.
The company will pay close attention to the follow-up development progress of subsidiaries, actively prevent and respond to various risks that may be faced in the development process of subsidiaries, and timely perform the obligation of information disclosure in strict accordance with the requirements of relevant laws, regulations and normative documents. Please invest rationally and pay attention to investment risks.
It is hereby announced.
Beijing Hotgen Biotech Co.Ltd(688068) board of directors February 16, 2022
