Tianlong Co., Ltd. (603266.SH) issued an announcement, in view of Wuhan Fist Biotechnology Co., Ltd. (“Wuhan...
According to Zhitong Finance App, Tianlong Co., Ltd. (603266.SH) issued an announcement. Since Wuhan Fist Biotechnology Co., Ltd. (“Wuhan Fist” for short) completed only about 40% of its performance promises in 2021 and 2022, and is not expected to complete a qualified IPO or overall merger and acquisition until December 31, 2023, it triggered the obligation of the actual controller of Wuhan Fist to “buy back all or part of the shares of Wuhan Fist held by the company as a result of this transaction, or require the actual controller to pay equity compensation to investors in this round.” In order to reduce the risk of foreign investment, and at the same time, the company continues to be optimistic about the future commercial value and development potential of Wuhan Fist, and considering factors such as the future commercial value and development potential of Wuhan Fist, it was decided to exercise repurchase rights for 1.3638% of the shares corresponding to the registered capital of 424.28 million yuan (accounting for 40% of the shares of Wuhan Fist obtained by the company through the capital increase).