Xinbang Pharmaceuticals sells two subsidiaries for 750 million yuan

Guide: It is proposed to transfer 100% equity in peptide biochemical stake and 100% of Kangyong Bio to Ted Pharmaceuticals (Zhejiang) Co., Ltd., with a total equity transfer amount of 750 million yuantoday, Xinbang Pharmaceuticals announced that the company intends to transfer 100% of The 100% of Sinopeptide Biochemicals and 100% of Kangyong Bio to Ted Pharmaceuticals (Zhejiang) Co., Ltd., the total equity transfer amount is RMB 75 million, of which the transfer price of 100% of Sinopeptide Biochemicals is RMB718.3 million, and the transfer price of 100% of Kangyong Bio is RMB31.7 millionannouncement shows that The company's wholly-owned subsidiaries of Xinbang, Peptide Biochemical Co., Ltd., Kangyong Bio Co., Ltd., are mainly engaged in peptide API customization services and in vitro diagnostic reagents sales, business mainly concentrated in North America, 2019 polypeptide sororization and in vitro diagnostic reagents sales revenue accounted for 4.18% and 0.76% of the company's main business revenue, respectivelyby Sino-US trade friction, the new crown pneumonia outbreak and other adverse factors, the company's peptide business, in vitro diagnostic reagents business are facing development bottlenecks, Kangyong Bio 2019 and Sino-peptide biochemical 2020 first quarter have a lossIn order to seek a break, we need to consider further increasing investment in research and development and investing in the construction of factories abroad, and large capital investment will inevitably adversely affect the overall operating performance and financial position of listed companies in the short termTherefore, in order to avoid the above uncertainty for the continued profitability of listed companies to pose risks, optimize the company's asset structure, better allocate the company's resources, implement the development strategy focusing on medical services, the company intends to transfer 100% of the shares of Sino-Peptide Biochemical and 100% of Kangyong Bio to Ted Pharmaceuticals (Zhejiang) Co., Ltd., the total equity transfer amount of RMB 75million rmb after the above-mentioned equity sale, Sino-Peptide Biochemicals and Kangyong Bio will no longer be a subsidiary of the company