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Hotgen plans to jointly invest 100 million to establish subsidiary for exosome-related gene tests

2021/9/16 11:51:35 Views:164

On September 16, Beijing Hotgen Biotech Co.,Ltd. stated that the company proposed to establish Beijing Yaojing Gene Technology Co., Ltd. with a joint investment of CNY100 million with Mr. LIN Changqing (Chairman of Hotgen) and Beijing Yaojing Enterprise Management Center(Limited Partnership), an employee stock ownership platform. The company plans to invest CNY58 million with its own funds, holding 58.00% of the shares; Mr. Lin Changqing invests CNY22 million, holding 22.00% of the shares; Yaojing Management Center (Limited Partnership) invests CNY20 million, holding 20.00% of the shares.



After the establishment, Yaojing Gene plans to purchase Hotgen's "Exosome-related Gene Testing Development Project" according to the accumulated original book value, with an amount of CNY2.4819 million. At present, this project is still in the early stage with a big uncertainty. Business operational risks caused by unfavorable advances in research and development, product registration, commercialization, etc. are existing.

 

Yaojing Gene will further develop genetic testing technologies such as molecular diagnostics on the basis of the " Exosome-related Gene Testing Development Project". Surrounding the company's main business of in vitro diagnostics, Yaojing Gene will also expand new testing technologies and diagnostic services such as tumor screening. The business of Yaojing Gene and Hotgen have a synergistic effect, and there is no situation that harms the interests of the Hotgen and all shareholders.

 


Beijing Hotgen Biotechn Co., Ltd. (stock code: 688068) was established in June 2005. It is a high-tech enterprise focusing on the research& development, manufacture and sales of medical and public safety inspection products of in vitro diagnostics (IVD) in the field of biomedicine.

 

In the first half of 2021, the total sales of Hotgen increased 3,904.13% than the same report period in 2020, mainly due to the substantial increase in sales of COVID-19 antigen rapid testing reagents in Europe.