Fullshare Holdings invests in platform for direct sales of healthcare products and services
Jul 27, 2016
2 minute read
(July 28, 2016, Hong Kong) Fullshare Holdings Limited (“Fullshare Holdings” or the “Company”; SEHK stock code: 607), is pleased to announce that, on 28 July 2016, Guangzhou Fullshare Health Management Limited Company, (“Guangzhou Fullshare”), a wholly-owned subsidiary of the Company, entered into an investment agreement with Tianjin Lianshengyuan Cultural Communications Limited (“Tianjin Lianshengyuan”), Zhongyuan Union Cell & Gene Engineering Corporation, Ltd (“Zhongyuan Union”)and Tianjin Bailesi Biotech Development Co., Ltd. (“Tianjin Bailesi”). Each of Guangzhou Fullshare and Zhongyuan Union has conditionally agreed to invest RMB42.5 million in Tianjin Bailesi respectively. Upon completion, Guangzhou Fullshare, Zhongyuan Union and Tianjin Lianshengyuan will hold 35%, 35% and 30% in Tianjin Bailesi respectively . The consideration would be satisfied by cash.
Tianjin Bailesi is committed to establishing a direct marketing platform on promoting products related to healthy life and services, which unveils the intelligent cells healthy era. Tianjin Bailesi expects that within the next 3 to 5 years, through multi-channel coverage and adopt the brand new commercial model of Internet + direct marketing, with the industry structure comprising the globally finely-selected good health products as its base, take the gene inspection testing and cell interference recuperation products as its lead, and place the health-and-fitness shops as a basic approach to develop its markets, formulating a modernized digital and direct marketing operation platform.
Besides, Zhongyuan Union, which jointly invested in Tianjin Bailesi with the Company, is a company listed on Shanghai Stock Exchange (Stock Code: 600645) and is principally engaged in cell and gene engineering business. Tianjin Bailesi is currently the only listed company in Shanghai and Shenzhen of Mainland China with the stem cell sector as its principal business.
Investment Agreement accompanies with results undertaking, if Tianjin Bailesi could achieve the profit targets set out in the Investment Agreement within the next five years, it will distribute net profit to Guangzhou Fullshare and Zhongyuan Union according to the proportion of capital contribution by each company. If Tianjin Bailesi does not achieve the objective, Tianjin Lianshengyuan will compensate Guangzhou Fullshare and Zhongyuan Union in cash. Meanwhile, pursuant to the Investment Agreement, Tianjin Lianshengyuan and Zhongyuan Union have the right to propose to Guangzhou Fullshare to buy back a certain percentage of Tianjin Bailesi’s equity within the next five years.
Mr. Ji Changqun, Executive Director, Chairman and Co-CEO of Fullshare Holdings said, “Fullshare Holdings is committed to developing a global leading service provider in healthcare services. The signing of the Investment Agreement is expected to significantly enrich the healthcare sector of the Company and at the same time lay the foundation of the O2O platform of the Group while using the direct marketing customer networks of the Target Company.”