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Huadong Medicine issued an announcement on the evening of December 28, stating that the company’s wholly-owned subsidiary Sino-American Huadong participated in the bankruptcy and reorganization of Huachang Hi-Tech and became its reorganization investor
.
According to the announcement, on November 30, Sino-US East China and the administrator signed a conditionally effective "Reorganization Investment Agreement.
" Adjusted to zero, Sino-US East China will invest 108 million yuan in the form of capital increase to pay and pay off the bankruptcy expenses, common-benefit debts and bankruptcy claims involved in the reorganization plan of Huachang Hi-Tech
.
The execution period of the reorganization plan is 6 months, calculated from the date when the court rules and approves the reorganization plan
.
According to data, Huachang Hi-Tech is a domestic industrial microbiology giant whose main business is the R&D and production of pharmaceutical intermediates and special chemicals
.
Through more than 40 years of hard work in the field of industrial microbiology, the company has successfully developed and manufactured a variety of microbial drugs and built a key technology system for the development and production of microbial products.
With three core microbial drug R&D/production bases, the scale and technical level of existing microbial fermentation products are at a relatively high level in the industry
.
On January 21, 2021, Huachang Hi-Tech was declared bankrupt and reorganized due to its inability to pay off due debts and its apparent lack of solvency.
Subsequently, Guohou Asset Management Co.
, Ltd.
served as the manager of Huachang Hi-Tech
.
Sino-US Huadong plans to rationally plan Huachang Hi-Tech production lines and public systems and make new capital investment.
Through the start of trial production in Huachang Hi-Tech factory, it will fully understand Huachang Hi-Tech’s asset matching, production kinetic energy and actual production status.
Recover part of Huachang Hi-Tech's production capacity as soon as possible, so that the fixed assets that have not been effectively used can achieve their due benefits, so as to maintain and increase their value, solve the urgent problems of Huachang Hi-Tech such as environmental protection and fire safety due to the suspension of production, and serve as a reorganized company.
The development has laid a solid foundation and is expected to be completed before the end of March 2022
.
It is reported that after the Majestic Health Microbial Health Industry Platform, Huachang Hi-Tech will become a new industrialization platform in the company's industrial microbiology field, focusing on the industrialization of nucleoside products, semi-synthetic antiparasitic drugs from microbial sources and other drugs.
.
Nucleoside products have become important basic materials for the life science industry.
The current market is showing a rapid development trend, and the future market scale can be expected
.
As an innovative R&D platform for the company’s industrial microbial industry, the holding subsidiary Hunda Biosciences focuses on the development of high-tech barriers and high-value-added microbial source products.
It has realized the commercial development of toxins and modified nucleosides, and has become the world’s main mRNA drug use.
Supplier of modified nucleosides
.
In order to further expand the commercialized nucleoside variety project and expand the production scale of nucleoside products, the company plans to use Huachang Hi-Tech as the main production base for nucleoside products to implement related modified, protective nucleoside and triphosphorylated nucleoside products.
Pipelines, and the formation of corresponding commercial production capacity
.
For this investment, Sino-US Huadong believes that the company's integration into the global industrial microbial medicine innovation and research and development industry chain is once again a strong layout, which is in line with the company's overall strategic development direction in this field
.
In the future, the company will continue to focus on high value-added areas upstream of the industrial chain, broaden the company's existing microbial technology application scenarios horizontally, vertically expand the development height and scale production capacity of industrial microbial technology, and open up a new blue ocean in the industrial microbial industry
.
.
According to the announcement, on November 30, Sino-US East China and the administrator signed a conditionally effective "Reorganization Investment Agreement.
" Adjusted to zero, Sino-US East China will invest 108 million yuan in the form of capital increase to pay and pay off the bankruptcy expenses, common-benefit debts and bankruptcy claims involved in the reorganization plan of Huachang Hi-Tech
.
The execution period of the reorganization plan is 6 months, calculated from the date when the court rules and approves the reorganization plan
.
According to data, Huachang Hi-Tech is a domestic industrial microbiology giant whose main business is the R&D and production of pharmaceutical intermediates and special chemicals
.
Through more than 40 years of hard work in the field of industrial microbiology, the company has successfully developed and manufactured a variety of microbial drugs and built a key technology system for the development and production of microbial products.
With three core microbial drug R&D/production bases, the scale and technical level of existing microbial fermentation products are at a relatively high level in the industry
.
On January 21, 2021, Huachang Hi-Tech was declared bankrupt and reorganized due to its inability to pay off due debts and its apparent lack of solvency.
Subsequently, Guohou Asset Management Co.
, Ltd.
served as the manager of Huachang Hi-Tech
.
Sino-US Huadong plans to rationally plan Huachang Hi-Tech production lines and public systems and make new capital investment.
Through the start of trial production in Huachang Hi-Tech factory, it will fully understand Huachang Hi-Tech’s asset matching, production kinetic energy and actual production status.
Recover part of Huachang Hi-Tech's production capacity as soon as possible, so that the fixed assets that have not been effectively used can achieve their due benefits, so as to maintain and increase their value, solve the urgent problems of Huachang Hi-Tech such as environmental protection and fire safety due to the suspension of production, and serve as a reorganized company.
The development has laid a solid foundation and is expected to be completed before the end of March 2022
.
It is reported that after the Majestic Health Microbial Health Industry Platform, Huachang Hi-Tech will become a new industrialization platform in the company's industrial microbiology field, focusing on the industrialization of nucleoside products, semi-synthetic antiparasitic drugs from microbial sources and other drugs.
.
Nucleoside products have become important basic materials for the life science industry.
The current market is showing a rapid development trend, and the future market scale can be expected
.
As an innovative R&D platform for the company’s industrial microbial industry, the holding subsidiary Hunda Biosciences focuses on the development of high-tech barriers and high-value-added microbial source products.
It has realized the commercial development of toxins and modified nucleosides, and has become the world’s main mRNA drug use.
Supplier of modified nucleosides
.
In order to further expand the commercialized nucleoside variety project and expand the production scale of nucleoside products, the company plans to use Huachang Hi-Tech as the main production base for nucleoside products to implement related modified, protective nucleoside and triphosphorylated nucleoside products.
Pipelines, and the formation of corresponding commercial production capacity
.
For this investment, Sino-US Huadong believes that the company's integration into the global industrial microbial medicine innovation and research and development industry chain is once again a strong layout, which is in line with the company's overall strategic development direction in this field
.
In the future, the company will continue to focus on high value-added areas upstream of the industrial chain, broaden the company's existing microbial technology application scenarios horizontally, vertically expand the development height and scale production capacity of industrial microbial technology, and open up a new blue ocean in the industrial microbial industry
.
