MicroPort Scientific (0853.HK) Announces RMB 100 Million Investment in MaiTong Medical Technology

MicroPort(00853) announced that on January 8, 2021, its subsidiaries, MicroPort MedTech (Jiaxing) Co., Ltd. and MicroPort (Shanghai) Medical Science Investment Co., Ltd., entered into an agreement with Wangdaotong Biotechnology and investors, whereby Wangdaotong Biotechnology and the investors agreed to inject new capital into MicroPort MedTech. Wangdaotong Biotechnology and the investors will make additional capital contributions totaling RMB 100 million to MicroPort MedTech.

Upon completion of the agreement, the Company’s actual equity interest in the Target Company will be diluted from the current 100% to 47.3684%, and the Target Company will no longer be consolidated as a subsidiary of the Company.

The announcement stated that the proposed capital increase would provide additional capital to the target company, thereby funding the implementation and execution of its development plans and seizing growth opportunities for the target company.