Wision Medical (688580.SH) to Acquire MyOnyx Device Technology Rights in Mainland China for CAD 6 Million

Original Title:VISHEE(688580.SH) Plans to Acquire Mainland China Ownership Rights to MyOnyx Device Technology for CAD 6 Million Source: Zhitong Finance

Zhitong Finance APP reported: VISHEE (688580.SH) announced that recently, the Company signed a Technology Transfer Agreement with Thought Technology Ltd. (hereinafter referred to as "TT Company"). TT Company will transfer all rights to its MyOnyx device technology in mainland China to the Company for a transaction price of CAD 6 million (approximately RMB 28.6 million, with the exact exchange rate subject to the real-time rate at the time of foreign exchange purchase). The Company has already paid the first installment on June 10, 2021, as required by the agreement, and subsequent payments will be made in phases according to the stipulated terms.

Upon the completion of this transaction, the Company will effectively reduce the raw material procurement costs for its electrical stimulation products, decrease supplier dependency, improve the competitive landscape in the niche market, and enhance the market competitiveness of its products.