Glory Medical's Subsidiary Jimei Rui Plans to Delist from NEEQ to Enhance Operational Efficiency

Gelonghui, December 26 | Shenzhen Glory Medical Co., Ltd. (002551.SZ) announced that the 10th Extraordinary Meeting of the 6th Board of Directors reviewed and approved the "Proposal on the Application by a Second-Tier Subsidiary for Delisting from the National Equities Exchange and Quotations." The Board agreed that its second-tier subsidiary, Suzhou Gemmed Medical Instrument Co., Ltd. ("Gemmed"), would apply to the National Equities Exchange and Quotations ("NEEQ") for delisting, in accordance with its strategic development plan and operational needs, so as to improve operational efficiency and reduce operating costs.

Company Name: Suzhou Gemmed Medical Instrument Co., Ltd.; Business Scope: R&D, production, and sales of medical devices and related technical services; hardware processing and sales; import and export of various commodities and technologies.

Gemmed Medical’s assets and business scale account for a small proportion of the Company’s total assets and business operations. Its application to terminate its listing on the National Equities Exchange and Quotations (NEEQ) will not have a material impact on the continuous operation of the Company’s other business segments, nor will it alter the controlling shareholder status of the listed company or the consolidation control over Gemmed Medical. The Company’s independent listing status remains unaffected.

Given that all of the Company’s businesses are currently maintaining a positive development trend, and Gemmed Medical maintains operational independence from the Company’s other business segments, the termination of the listing and transfer of Gemmed Medical’s shares will not have a material impact on the continuous operations of the Company’s other business segments. Meanwhile, the delisting of Gemmed Medical will reduce the Company’s operating costs. Therefore, after Gemmed Medical applies to the National Equities Exchange and Quotations (NEEQ) system for termination of its listing, the Company will be able to continue maintaining strong and sustainable profitability.