Farmmi strategically invests in Shanghai Jiaotong University Ang Le, crossing into the Chinese medical and health field.
On November 5, 2021, FAMI, a Chinese agricultural product supplier (NASDAQ stock code: FAMI), signed a "Equity Transfer Framework Agreement" with China International Capital Corporation (Group) Co., Ltd. and its affiliates (referred to as "CICC"). According to the agreement, Farmmi will acquire 15.97% of the shares of Shanghai Jiaotong University Ang Le held by CICC at a price of 0.50965 billion yuan, becoming the second largest shareholder of Jiaotong Ang Le (600530.SH). Farmmi (FAMI) plans to achieve successful layout in the medical and health field through this acquisition, enter the medical and health industry, and accelerate the construction of the company's large health ecosystem.
Jiaotong Ang Le (600530.SH) is a listed company on the Shanghai Stock Exchange focusing on the operation and management of specialized elderly care hospitals as well as the research, production, and sales of health foods. It has formed two main business sectors: 'medical' and 'health foods'. The company's medical sector includes 14 nursing and rehabilitation hospitals in Shanghai, Jiangsu, Zhejiang, and other locations, with over 3,800 open beds, making it one of the largest elderly care institutions among public listed companies in China. In the future, Jiaotong Ang Le (600530.SH) will continue to focus on the layout of the medical and health field, aiming to grow into the largest leading enterprise in the medical and health industry in Asia. The company's health food sector has 31 health food approval numbers, 16 invention patents, covering a series of health products including dietary supplements, traditional tonics, and functional products (heart health, blood sugar reduction, etc.), meeting the needs of various consumer groups.
Farmmi (FAMI) is the first Chinese edible mushroom enterprise listed on the NASDAQ in the United States, specializing in edible mushroom research, cultivation, production, and sales. With a history of over twenty years, the company continuously explores new areas and innovations on the basis of consolidating and developing the original mushroom industry. Farmmi (FAMI) has established new companies such as Farmmi (Hangzhou) Health Development Co., Ltd., Zhejiang Farmmi Health Medical Technology Co., Ltd., Zhejiang Yitang Medical Services Co., Ltd., and Zhejiang Yiting Medical Technology Co., Ltd. Among them, Zhejiang Yitang Medical Services Co., Ltd. will mainly engage in investments in the medical and health field with core assets of rehabilitation hospitals and nursing hospitals. Zhejiang Yiting Medical Technology Co., Ltd. will mainly engage in investments in the elderly care industry with core assets in nursing homes. Through the newly established Zhejiang Yitang Medical Services Co., Farmmi aims to realize the acquisition of shares in Jiaotong Ang Le (600530.SH) to enhance the company's investment in the medical and health field.
Chairman and CEO Zhang Yefang of Farmmi (FAMI) stated: "Medical rehabilitation, as an emerging industry, is not only a new driving force for the cultivation and development of Farmmi (FAMI), but also a key new competitive advantage for the company to win in the future. The development of this industry will also provide strong support for the company's development in the large health industry. In the next step, the company will focus highly on the main business advantage sector, continuously extend the industry chain, accelerate the layout of the company's large health ecological industry system, enhance profitability, and achieve steady development."
About Farmmi Company
Farmmi Company was established in 1998, formerly known as Zhejiang Fulaishen Food Co., Ltd., is an agricultural e-commerce technology enterprise. The company was listed on the IPO of the United States NASDAQ Stock Exchange on February 16, 2018, with the stock code: FAMI. Headquartered in Zhejiang, China, the company is committed to creating a green agricultural products, high-end vegetarian products, and agricultural product industry internet supply chain platform. For more information about the company, please visithttp://ir.farmmi.com.cn/
About Shanghai Jiao Tong University Anting Co., Ltd.
Shanghai Jiaotong University Anting Co., Ltd. was founded by nine sponsoring shareholders including Shanghai Jiaotong University, Shanghai Public Taxi Co., Ltd., Shanghai Rongbei Industrial and Commercial Trading Co., Ltd., Shanghai Xinluda Business (Group) Co., Ltd., Shanghai International Co., Ltd. The company was established as a joint-stock company on the basis of the original Shanghai Jiaotong University Anting Biological Products Co., Ltd. and registered with the Shanghai Industrial and Commercial Administration Bureau on December 24, 1997. In July 2001, the company was successfully listed on the Shanghai Stock Exchange, with the stock abbreviation "Jiaoda Angli" and the securities code: 600530. Currently, the company has developed into two major sectors, "medical care + health products," becoming the first listed company in China's health food industry and the largest listed company in China's elderly care field. In the future, the company will focus on the layout of the medical care and health industry, and strive to become a leading company in the domestic medical care industry.
In July 2001, the company successfully went public on the Shanghai Stock Exchange, with the stock symbol "Jiaoda Angli" and the securities code: 600530. Currently, the company has developed into two major sectors, "medical care + health products," becoming the first listed company in China's health food industry and the largest listed company in China's elderly care field. In the future, the company will focus on the layout of the medical care and health industry, and strive to become a leading company in the domestic medical care industry.
Forward-looking statements.
This press release contains forward-looking statements regarding the future expectations, plans, and prospects of Farmmi, which constitute forward-looking statements. Please do not overly rely on these forward-looking statements. Due to various factors, actual results may differ significantly from historical results or results stated in these forward-looking statements, including but not limited to its ability to raise additional funds, maintain and develop its business, variability of operating results, ability to maintain and enhance its brand, development and introduction of new products and services, companies to be acquired, completion of acquisitions, successful integration of technologies and assets into its product and service portfolio, marketing and other business development initiatives, industry competition, general government regulations, economic conditions, impact of the COVID-19 pandemic, reliance on key personnel, attracting, hiring, and retaining personnel with the technical skills and experience needed to meet customer requirements, and ability to protect its intellectual property. Farmmi encourages you to review other factors that may affect its future results in its registration statement and other documents submitted to the U.S. Securities and Exchange Commission. The forward-looking statements in this press release are based on current expectations, and Farmmi does not undertake the obligation to update these forward-looking statements.
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Source of Information: Farmmi
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Related links:http://ir.farmmi.com.cn/
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