Gelonghui Feb. 23丨Yingtai Medical (01501.HK) announced that on February 23, 2024, the company, seller and target company Shanghai Hanling Medical Devices Co., Ltd. signed a repurchase agreement. According to the repurchase agreement, the company agreed to buy back a total of about 5.0% of the target company's shares from the seller. Among them, the company will repurchase about 3.8% of the target company's shares from Waige Yingtai and the company will buy back about 1.2% of the target company's shares from Mr. Ke Wei.
After the repurchase is completed, the target company will own approximately 61.36% of the company's equity.
Shanghai Han Ling is a non-wholly-owned subsidiary of the company and is dedicated to the research and development of products related to heart valves. Shanghai Han Ling's pipeline products include transcatheter aortic valve systems, expandable vascular sheath systems, and self-positioning valve expansion balloon catheters.
The board of directors believes that the purpose of the buyback is to further optimize Shanghai Hanling's shareholding structure and implement the company's development strategy more effectively.