Haohai Biological Technology Announces on February 8 in HKEX: On February 8, 2023, the transferee, SHANGHAI HAOHAI MEDICAL TECHNOLOGY DEVELOPMENT CO., LTD. (a wholly-owned subsidiary of the company), entered into an equity transfer agreement with the transferor. According to the agreement, the transferor agreed to sell 20% equity of the target company, Shenzhen New Industries Material of Ophthalmology Co., Ltd. (a subsidiary indirectly owned 60% by the company), to the transferee for a consideration of 140 million yuan. After the completion of the acquisition, the group will hold 80% equity of the target company.
The target company is a limited company established in China, mainly engaged in the distribution of multiple imported ophthalmic products in mainland China, including intraocular lenses, ophthalmic viscoelastic agents, and sodium hyaluronate gel for glaucoma surgery. The target company is also the exclusive distributor of Lenstec (Barbados) Inc. in China. Lenstec is one of the leading suppliers in China's imported intraocular lens product market. The target company has been cooperating with Lenstec for over 15 years, and the current exclusive distribution agreement is valid until December 31, 2026.