Zhitong Finance App News, PricewaterhouseCoopers (01358) issued an announcement. On December 22, 2023, investors in Shenzhen Venture Capital Manufacturing Transformation and Upgrading New Materials Fund (limited partnership), the company's wholly-owned subsidiary Meike Investment, the original minority shareholder, and Sichuan Ruijian Medical, a non-wholly owned subsidiary of the company, signed an investment agreement. Investors agreed to buy RMB 140 million and Ningbo Yihui (one of the original minority shareholders) agreed to sell 157.12,300 shares of Sichuan Ruijian Medical shares at a cost of RMB 140 million, and investors agreed to purchase and distribute Sichuan Ruijian Medical 15.134,400 new shares.

Immediately before the share transfer and share subscription, the company held 51% of Sichuan Ruijian Healthcare's shares through Meike Investment. Following the completion of the share transfer and share subscription, the company's shareholding in Sichuan Ruijian Medical (through Meiyike Investment) will be reduced from 51% to 48.49%. After the share transfer and share subscription are completed, Sichuan Ruijian Medical will continue to be a non-wholly owned subsidiary of the company, and Sichuan Ruijian Medical's performance, assets and liabilities will continue to be recorded in the Group's financial statements. Following the completion of the share transfer and share subscription, investors will hold 10.05% of the shares.

Proceeds from the stock subscription will be used for R&D, registration, and production line construction of Sichuan Ruijian Medical's main business products (including continuous renal replacement therapy (CRRT), dialyzers, filters, perfusers, vascular pathways, etc.).

The announcement said that the proceeds from the share subscription will increase the financial flexibility of Sichuan Ruijian Medical and enhance its ability to continue developing candidate products and seize future expansion and development opportunities. Sichuan Ruijian Medical plans to use the proceeds from the stock subscription to promote R&D and commercialization of its pipeline project and expand production facilities.