Tibet Xinyi Investment Co., Ltd. cancelled the acquisition of 20% stake in Guangzhou Youvision Biotech Co., Ltd. from Guanhao Biotech Co.,Ltd..
January 23, 2020
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Tibet Xinyi Investment Co., Ltd. agreed to acquire 20% stake in Guangzhou Youvision Biotech Co., Ltd. from Guanhao Biotech Co.,Ltd. (SZSE:300238) for CNY 26 million on August 22, 2019. Under the terms of transaction, Tibet Xinyi Investment Co., Ltd. will pay 50% of the consideration will be paid within 10 days since signing signing of the agreement and second installment is payable within ten days since completion of change of registry procedures. Upon completion, Tibet Xinyi Investment Co., Ltd. will hold 20% stake and Guanhao Biotech Co.,Ltd. will hold 29.33% stake in Guangzhou Youvision Biotech Co., Ltd. For the year ended December 31, 2018, Guangzhou Youvision Biotech Co., Ltd. had total assets of CNY 21.3 million, net assets of CNY 13.9 million, revenue of CNY 15.1 million and net loss of CNY 6.8 million. The transaction has been approved by the Board of Guanhao Biotech Co.,Ltd.
Tibet Xinyi Investment Co., Ltd. cancelled the acquisition of 20% stake in Guangzhou Youvision Biotech Co., Ltd. from Guanhao Biotech Co.,Ltd. (SZSE:300238) on January 24, 2020. Tibet Xinyi Investment paid a termination fees of CNY 0.5 million.
Guanhao Biotech Co., Ltd. is a China-based company principally engaged in the research, development, production and distribution of regeneration medical materials and medical implanted devices. The Company primarily provides biological dura mater patches, chest general surgery department patching membranes (type P) and (type B), asepsis biological wound-surface protection membranes, type B dura matrix, intraocular lens as well as agent products. The Company is also engaged in provision of related technological services.
GUANHAO BIOTECH CO.,LTD. 
