Zhitong Financial App News, Hima Ophthalmology (03309) announced that Hong Kong (International) Ophthalmology Group Limited (Hong Kong Ophthalmology), a wholly-owned subsidiary of the company, has sold its shares in Belkin Vision Ltd. (the selling company) to Alcon Pharmaceuticals Ltd. (Alcon). Its book value as of December 31, 2023 was HK$23.3 million, and classified as a financial asset that includes other full income at fair value. The cost is as follows: The fixed cash cost at completion is approximately 6.4 million yuan. US dollars; and possibly no more than $17 million, based on the company's best estimates, depending on whether the milestones associated with the annual sales target are reached.

Prior to completion of the sale, Hong Kong Ophthalmology held approximately 10.7% of the sale company's shares or 8.6% of the shares calculated on a fully diluted basis.

The sales company is mainly engaged in the development and commercialization of Eagle laser equipment, the purpose of which is to provide first-line glaucoma care. According to the director's full knowledge, knowledge and conviction, the sale of the company's products obtained the CE mark of the medical device manufacturer MDR under the new European Directive in May 2022, and approved by the US Food and Drug Administration (FDA) in December 2023.

The company expects to obtain pre-tax income from fixed cash costs of approximately US$6.4 million from other comprehensive revenue, which is estimated to be approximately HK$26 million. The actual amount of revenue confirmed by the Group as a result of the sale will be subject to review before it can be realized. Upon completion, Hong Kong Eye Care will no longer hold any interest in the selling company. The Company anticipates that the proceeds from the sale will be used as working capital and for general business purposes.