Beijing Bohui Innovation Technology Co., Ltd. completed the acquisition of an additional 21% stake in Guangdong Wellen Biological Pharmaceutical Co., Ltd from Walvax Biotechnology Co.,Ltd for CNY 110 million.
January 03, 2017
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Beijing Bohui Innovation Technology Co., Ltd. (SZSE:300318) signed an equity transfer agreement to acquire an additional 21% stake in Guangdong Wellen Biological Pharmaceutical Co., Ltd from Walvax Biotechnology Co.,Ltd (SZSE:300142) for CNY 110 million on December 11, 2016. The consideration will be paid within 5 days after commencement of the agreement. As of December 12, 2016, Beijing Bohui Innovation Technology Co., Ltd. holds 30% stake and Walvax Biotechnology Co.,Ltd holds 21% stake in Guangdong Wellen Biological Pharmaceutical Co., Ltd. Post completion of the transaction, Beijing Bohui Innovation Technology Co., Ltd. will hold 51% stake. For the year ended December 31, 2015, Guangdong Wellen Biological Pharmaceutical Co., Ltd reported revenue of CNY 13.3 million, net loss of CNY 43.09 million, total assets of CNY 179.76 million and net assets of CNY 9.84 million. The transaction was approved by the shareholders of Guangdong Wellen Biological Pharmaceutical Co., Ltd and by the Board of Beijing Bohui Innovation Technology Co., Ltd. in the 29th session of the 5th directorate and does not require the approval of its shareholders. Beijing Zhuoxindahua Appraisal Co., Ltd acted as an appraiser in the transaction.
Beijing Bohui Innovation Technology Co., Ltd. (SZSE:300318) completed the acquisition of an additional 21% stake in Guangdong Wellen Biological Pharmaceutical Co., Ltd from Walvax Biotechnology Co.,Ltd (SZSE:300142) on January 3, 2017.
Beijing Bohui Innovation Biotechnology Group Co Ltd, formerly Beijing Bohui Innovation Biotechnology Co Ltd is a China-based company mainly engaged in testing and biological products. The testing business products are divided into testing instruments and testing reagents, including human papillomavirus (HPV) testing products, trace element testing products, mass spectrometry related testing products, and others. The biological products mainly cover three categories: albumin, immunoglobulin and human coagulation factors, including human serum albumin, human immunoglobulin, intravenous human immunoglobulin, hepatitis B human immunoglobulin, tetanus human immunoglobulin, human prothrombin complex, and others. The Company mainly operates its business in the domestic market.
Beijing Bohui Innovation Technology Co., Ltd. completed the acquisition of an additional 21% stake in Guangdong Wellen Biological Pharmaceutical Co., Ltd from Walvax Biotechnology Co.,Ltd for CNY 110 million.
BEIJING BOHUI INNOVATION BIOTECHNOLOGY GROUP CO., LTD. 
