Mediwelcome Announces Capital Reduction in Subsidiary

Mediwelcome Healthcare Management & Technology Inc. ( (HK:2159) ) has issued an announcement.

Mediwelcome Healthcare Management & Technology Inc. announced a capital reduction for one of its subsidiaries, the Target Company, which will see Beijing Medi Healthcare, a group entity, reduce its registered capital by approximately RMB3.1 million, equating to 51% of the Target Company’s existing capital. This move will result in Beijing Medi Healthcare ceasing to hold any interest in the Target Company, leading to the exclusion of the Target Company’s financial results from Mediwelcome’s consolidated financial statements. The capital reduction is deemed a discloseable transaction under Hong Kong’s listing rules, and the consideration for the reduction was set at RMB7.0 million, based on an independent valuation reflecting market conditions.

More about Mediwelcome Healthcare Management & Technology Inc.

Mediwelcome Healthcare Management & Technology Inc. operates in the healthcare management and technology sector. The company focuses on providing healthcare management services and technological solutions, primarily within the People’s Republic of China.

Average Trading Volume: 77,270

Technical Sentiment Signal: Sell

Current Market Cap: HK$95M

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