Chongqing Guanzan is a Chinese medical distributor with distribution channels covering over 4,000 pharmacies, over 4,000 clinics, 50 hospitals and 130 pharmaceutical companies nationwide. Chongqing Guanzan also has about ten world-leading medical device suppliers such as Stryker, GE, Siemens, Philips and Olympus.
Since the epidemic of the novel coronavirus, the company has been actively contacting and negotiating with pharmaceutical manufacturers and wholesale companies, including the Sinopharm Group, CR Pharmaceutical Group Liaoning Branch, and Jointown Pharmaceutical Liaoning Branch.
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In a release issued under the same headline on Monday, February 3, 2020 by BOQI International Medical Inc. (BIMI), in the third paragraph, the Cash Consideration to be paid should have been RMB 80,000,000 (currently approximately $11,428,571), not RMB 800,000,000. Chongqing Guanzan is a Chinese medical distributor with distribution channels covering over 4,000 pharmacies, over 4,000 clinics, 50 hospitals and 130 pharmaceutical companies nationwide.
According to the original purchase agreement signed on April 11, 2019, the aggregate purchase price for the shares of Boqi Pharmacy (or Boqi Pharmacy’s parent) consists of a cash consideration of RMB 40,000,000 (currently approximately US$5,714,285) (the “Target Cash Consideration”)and 1,500,000 shares of common stock of the Company. The Target Cash Consideration is subject to post-closing adjustment according to the appraised value of Boqi Pharmacy.
The company is also expanding its supply chains to ensure the customers have access to medical supplies during this time of need. On March 5, 2020, the Company entered into a purchase agreement with Nanjing Chuangling Environmental Technology Co., Ltd. (“Nanjing Chuangling”) through its wholly-owned subsidiary Boqi Zhengji Pharmacy Chain Co., Ltd. According to the agreement, Nanjing Chuangling is going to supply surgical masks and 75% rubbing alcohol to Boqi Zhengji Pharmacy’s multiple chain stores.
The Company’s ordinary shares will continue to trade under the symbol “BIMI”. On November 15, 2019, the shareholders of the Company approved an amendment to the Company’s certificate of incorporation to change the Company’s name from NF Energy Saving Corporation to BOQI International Medical Inc. Accordingly, on December 16, 2019, the Company filed a Certificate of Amendment to the Company’s certificate of incorporation with the Secretary of State of the State of Delaware.
On March 31, 2020, the Company entered into a Stock Purchase Agreement (the “Purchase Agreement”) with Yunfei Lu, a citizen of the People’s Republic of China (the “PRC”) (“Buyer”), pursuant to which the Company will sell, convey and transfer its legacy business, through the sale of all the issued and outstanding shares of the capital stock of NF ENERGY SAVING INVESTMENT LIMITED, a company organized under the laws of the British Virgin Islands (“Parent”) (the "Asset Sale") to Buyer. Parent owns, indirectly, all the issued and outstanding shares of the capital stock of LIAONING NENGFA WEIYE ENERGY TECHNOLOGY CO., LTD., a company organized under the laws of the PRC (the “Target”). The closing of the Purchase Agreement is expected to be in or about May, 2020.
In a release issued under the same headline on May 19, 2020 by BOQI International Medical Inc. (BIMI), in the third paragraph, the discount to the amortization conversion price should have been 22%, not 78%. The offering is subject to customary closing conditions and is expected to close on or about May 22, 2020.
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BOQI International Medical is authorized as the exclusive distributor of Harmony’s Seradase Serrapeptase Enteric-coated Tablets(“Seradase”) in Southwest China. Seradase was included in the anti-epidemic supply list by Chongqing Economy and Information Technology Commission on February 25, 2020. The Chongqing Economy and Information Technology Commission is responsible for monitoring and analyzing industry trends and publishing relevant information.
New York, April 21, 2020 -- BOQI International Medical Inc. (NASDAQ: BIMI) (“BIMI” or the “Company”) today announced that it has entered into a Memorandum of Understanding.
Pursuant to the SPA, two convertible notes in an aggregate original principal amount of $ 4,450,000 will be issued to the investors, together with the issuance of warrants to acquire common stock of the Company. Each note has a face amount of $2,225,000, for which each holder will pay $1,750,000 in cash.
NEW YORK, May 15, 2020 -- BOQI International Medical Inc. (NASDAQ: BIMI) (“BIMI” or the “Company”) announced its financial results for the fiscal year ended December 31, 2019..
The formation of BOYI Technology is in line with BOQI International Medical’s member-centric O2O business model, while also meeting the increasing market demand for Telehealth software and healthcare SCMS. BOYI Technology will be based in Dalian, China, with initial product availability expected in the second quarter of the calendar year 2020.
Chongqing Guanzan is a medical distributor with distribution channels covering over 4,000 pharmacies, over 4,000 clinics, 50 hospitals and 130 pharmaceutical companies nationwide. Chongqing Guanzan also has about ten world-leading medical device suppliers such as Stryker, GE, Siemens, Philips and Olympus.
Chongqing Shude is a medical distributor with distribution channels covering more than 4,000 pharmacies. The establishment of the new pharmacy chain subsidiary is expected to attract Chongqing Shude’s independent pharmacy clients to join the pharmacy chain.
According to the existing purchase agreement signed on April 11, 2019, the aggregate purchase price for the shares of Boqi Zhengji Pharmacy Chain (or Boqi Zhengji Pharmacy Chain’s parent) consists of a cash consideration of USD 5,643,181 (RMB 40,000,000) and 1,500,000 shares of common stock of the Company. The purchase price is based on an initial appraisal of the fair market value of the acquired company and is subject to post-closing adjustments.
As COO, Mr. Wang has responsibility for the company's supply chain and sourcing operations, demand planning, distribution, information technology, business process management, corporate real estate, asset protection and sustainability. Prior to joining BOQI International Medical, Mr. Xiaoping Wang has 15 years of executive experience in pharmaceutical companies. Mr. Wang is the Founder, Chairman and CEO of Chongqing Guanzan Technology Co., Ltd. (“Chongqing Guanzan”), and Chongqing Shude Pharmaceutical Co., Ltd. (“Chongqing Shude”) He utilized his expertise to scale the two companies and opened up significant distribution channels.
Email is such an integral part of everyday life we tend to ignore, or simply be unaware, that it is the biggest single threat to cybersecurity. Yet almost all cybercrime is either email-based, or employs email as part of the process.
Under the terms of the agreement, Shandong Forward Medical agreed to purchase 90,000 medical isolation gowns, 100,000 disposable protective coveralls, 18 Philips CT machines, 500 noninvasive ventilators, 15 digital radiography systems and 55 digital laryngoscopes (the “Medical Devices”) from Chongqing Guanzan. The aggregate purchase price to be paid is RMB 137,885,000 (estimated at $19,648,735).
Chongqing Shanfeng Zhiyuan is an innovator, manufacturer and supplier of medical devices, disinfection supplies and cosmetics in Southwest China. It has a manufacturing plant covering about 18,298 square feet and has 51 employees including a 6-person R&D team.
Brand Indicators for Message Identification (BIMI) is an emerging standard that allows brands to display their logos alongside authenticated email messages. BIMI was designed to be easy, but it has become clear that there are a few challenges when it comes to…
Under the terms of the agreement, Chongqing Kegemo agreed to purchase 100,000 medical isolation gowns, 60,000 disposable protective coveralls, 10 Philips CT machines, 300 noninvasive ventilators, 10 digital radiography systems and 50 digital laryngoscopes (the “Medical Devices”) from Chongqing Guanzan. The aggregate purchase price to be paid is RMB 75,254,000 (estimated at $10,637,960).