|
|
|
|
|
|
| Step into Big Health Industry |
HONG KONG, Aug 18, 2016 - (ACN Newswire) - Bolina Holding Co., LTD (the "Company" and together with its subsidiaries, the "Group", stock code: 1190.HK) today announces that on 17 August 2016, one of the Company's subsidiaries entered into a memorandum of understanding ("MOU") with the seller regarding a potential acquisition of 51% stake in the Xiamen Mas-Agee Electronic Technology Co., Ltd. ("target company") at the consideration about RMB 200 million to 300 million (equivalent to HKD234 million to HKD351 million).
The target company is a limited company incorporated in the PRC which engages in the research and development, manufacture and sale of massage chairs and massage devices. The target company's products include medium-to-high end massage chairs and various kinds of massage devices which have supporting functions of relaxing, treatment, healthcare and detection. They are sold to Japan, Taiwan, the USA, Canada, South Korea, Argentina, Brazil, Australia and Serbia, etc.. The target company owns more than 40 patents (many of which are patents of invention) and certifications in safety and medical device manufacture necessary for exporting the products to major economies of the world. It is a high technology enterprise with strong growth in the big health industry.
Mr. Xiao, Zhiyong, Chairman of Bolina Holding Co., Ltd said, "Besides maintaining its stable leading status in the sanitary industry, the Company has been endeavouring to expand the market. This acquisition is in line with the Company's long term development strategy and is thus beneficial to the maximization of the Company's interests and shareholders' values. According to estimates of relevant institutions, added value of the entire healthcare industry can reach about RMB10,000 billion by 2020. Directors of the Company thus firmly believes that the acquisition can diversify our products, create new profit growth engine, expand medium-to-high end customer bases and cross-sale with the sanitary ware sector by leveraging the Company's ample management experiences, excellent marketing strategies and extensive sale network. This does not deviate from the Company's existing business sector of household goods and electronics on one hand, while expanding the Company's presence in the healthcare products market in the big health industry on the other, and will bring considerable potential revenues to the Group."
In recent years, Health and Personal Care sector has been mushrooming and the promotion of the development of healthcare sector is also one of the key issues in China's strategy outline. As one of the promising new industries, the healthcare sector has a promising prospect. In particular, data of the State Council shows that healthcare sector has become a pillar of the US, German and Japan economies by representing a relatively great share in their GDPs and serves as the main driver of economic transformation and upgrading. Currently, added value of the healthcare sector represents only 4% to 5% in China's GDP. Such gap with the developed countries means healthcare sector of China enjoys a bright prospect of development. Given the above, this acquisition is of great significance to the Group.
Material living standard rises as the society develops. People are keener to pursue a quality life. They have stronger concepts of health, and pay increasing attention to preventive healthcare. The focus of healthcare has shifted from post-disease care to disease prevention and health maintenance. This has created huge opportunities for the development of healthcare massage products. In the meantime, the relevant sectors will continue to expand in depth and breadth with the favourable national policies and therefore the bright industrial prospect can be foreseen.
About Bolina Holding Co., Ltd (Stock Code: 1190.HK)
Bolina Holding Co., Ltd is the first listed company in China's ceramic sanitary industry, Bolina was awarded as the Chinese Famous Brand, Top Ten Popular Brand in Sanitary Industry and Outstanding Enterprises, etc. The principal activities of the Group include the design, development, production, marketing and distribution of sanitary ware branded products and accessories marketed under the Group's own brand in the PRC and under third parties' brands on an ODM and OEM basis to the Group's international customers.
Media Contacts:
Angel Yeung
Jovian Communications Ltd
Tel: +852 2581 0168
Fax: +852 2854 2012
Email: bolina@joviancomm.com
Topic: Press release summary
Source: Bolina Holding Co., Ltd.
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
|
