MicroPort Scientific Expects One-Off Gain of USD 56 Million from Sale of MicroPort EP Shares in H1 2019

Gelonghui, June 24 | MicroPort (00853.HK) announced that, following the signing of the relevant agreement for the transfer of MicroPort EP, the Company has fulfilled all related procedures and completed the closing of the MicroPort EP transfer. Upon completion of the closing, the Group’s equity interest in MicroPort EP decreased from 81.93% as of December 31, 2018, to 45.10%, and MicroPort EP’s financial statements are no longer consolidated into the Company’s financial reports.

To determine the fair value of the Company’s remaining equity interest in MicroPort EP, the Company has engaged a third-party appraiser. Based on the appraisal results, it is currently estimated that for the six months ended June 30, 2019, the Company will record a one-time gain of approximately USD 56 million from the disposal of shares in MicroPort EP, net of tax effects.