MicroPort Subsidiary Acquires Shanghai Pudong Property for RMB 650 Million

This article is sourced from: Zhitong Finance Network

Zhitong Finance APP reports that MicroPort (00853) announced that its subsidiary, Shanghai MicroPort Investment Holding Co., Ltd. ("MicroPort Investment"), has recently signed a capital increase and equity transfer agreement with Shanghai Huabo Information Service Co., Ltd. and Shanghai Fengjun Enterprise Management Partnership (Limited Partnership) (the "Transferors"). MicroPort Investment will acquire 100% of the equity interest in Shanghai Huanbo Digital Technology Co., Ltd. (the "Target Company") from the Transferors for a transaction consideration of approximately RMB 650 million, subject to adjustment based on the net asset value of the Target Company as of the completion date.

It is reported that the principal asset of the target company is the property located at Buildings 1-12, No. 18 Gudan Road, Pudong New Area, Shanghai (the Target Property). Upon completion of this acquisition, the Group will own the Target Property.

The announcement states that the target property is adjacent to the national-level Shanghai Biomedical Science and Technology Industry Base - Zhangjiang Biomedical Base. The target property covers a site area of approximately 31,700 square meters, with a total gross floor area of approximately 69,200 square meters. Upon completion of the transaction, the target property will serve as one of the R&D bases for Fujian Kerui Pharmaceutical Co., Ltd., a company recently acquired by the Group, and will also be utilized for the R&D, production, and office purposes of the Group's emerging businesses (such as novel biomaterials, regenerative medicine, etc.), thereby partially alleviating the shortage of R&D and production space for multiple specific business lines.