Hong Kong Exchanges and Clearing Limited and the Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation with regard to its accuracy or completeness, and expressly disclaim any liability for any loss whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

杭州明醫療器械股份有限公司

Venus Medtech (Hangzhou) Inc.

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2500)

VOLUNTARY ANNOUNCEMENT

LATEST INVESTMENT PROJECT

This announcement is made by Venus Medtech (Hangzhou) Inc. (the "Company", together with its subsidiaries, the "Group") on a voluntary basis to inform the shareholders of the Company and potential investors of the latest updates of the business development of the Group.

The board (the "Board") of directors (the "Directors") of the Company is pleased to announce that, in order to improve our strategic layout in the field of structural heart disease treatment and grasp development opportunities brought about by the transcatheter interventional therapy technologies, the Group resolved to invest in Valgen Holding Corporation, an innovative medical device company registered in Cayman Islands (the "Investee" or "ValgenMed").

ValgenMed is committed to providing systematic solutions for diseases such as mitral regurgitation and tricuspid regurgitation. ValgenMed has developed MitralStitch, the first device in China for transcardial interventional treatment of mitral regurgitation, DragonFly-M, China's first femoral vein mitral valve repair device and DragonFly-T, China's first femoral vein tricuspid valve repair device, of which MitralStitch and DragonFly-M have entered pre-marketing registration clinical study stage and DragonFly-T has entered exploratory clinical study stage.

The investment will facilitate ValgenMed to accelerate the clinical research and development progress of its major product candidates and is expected to make some of its products to be the first domestically produced innovative medical devices marketed in China. Given that the mitral regurgitation and tricuspid regurgitation treatment technologies enjoy huge market potential, and the Company currently has mitral valve replacement device in exploratory clinical preparation stage and tricuspid valve replacement device in research and development and design stage, the investment in ValgenMed will have a positive impact on the product pipeline layout of the Company.

The Board believes that, leveraging the investment, the Company will further consolidate its product layout in the field of structural heart disease, and maintain its leading position in China and even the global market through its strong commercialization capability.

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IMPLICATIONS UNDER THE LISTING RULES

To the best of the knowledge, information and belief of the Directors, having made all reasonable enquiries, the Investee and its existing shareholders (and their ultimate beneficial owners) are third parties independent of, and not connected with, the Company and its connected persons. Accordingly, the investment does not constitute a connected transaction of the Company under Chapter 14A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). As the highest applicable percentage ratio under Rule 14.07 of the Listing Rules in respect of the investment is less than 5%, the investment does not constitute a discloseable transaction of the Company under Chapter 14 of the Listing Rules.

By order of the Board

Venus Medtech (Hangzhou) Inc.

Min Frank Zeng

Chairman

Hangzhou, May 6, 2021

As at the date of this announcement, the executive Directors are Mr. Min Frank Zeng, Mr. Zhenjun Zi and Mr. Lim Hou-Sen (Lin Haosheng); the non-executive Director is Ms. Nisa Bernice Wing-Yu Leung; and the independent non-executive Directors are Mr. Ting Yuk Anthony Wu, Mr. Wan Yee Joseph Lau and Mr. Chi Wai Suen.

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Venus MedTech HangZhou Inc. published this content on 06 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2021 17:40:09 UTC.