Winner Medical Co., Ltd agreed to acquire an additional 65.55% stake in Hunan Pingan Medical Device Technology Co., Ltd. for approximately CNY 650 million.
May 17, 2022
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Winner Medical Co., Ltd agreed to acquire an additional 65.55% stake in Hunan Pingan Medical Device Technology Co., Ltd. for approximately CNY 650 million on May 18, 2022. Winner Medical will use CNY 651.9215 million from its own funds under the acquisition. Upon the completion of the deal, Winner Medical is set to hold a total of 68.7% stake in Pingan Medical. As on May 17, 2022, Winner Medical Board of Directors approved the deal. For the year ended December 31, 2021, Hunan Pingan had CNY 394.891 million of total assets, CNY 244.3358 million of Net assets, CNY 360.087 of revenue, CNY 104.255 of operating profit, CNY 85.0326 of Net profit.
Winner Medical Co Ltd is a China-based company mainly engaged in the research and development, production and sales of cotton products. The Company's products mainly include medical dressings such as imitation gauze sheets and gauze pads; pure cotton soft towels, pure cotton wet wipes, cotton surface sanitary napkins and other healthy consumer products; and cotton spunlace non-woven fabrics. The Company's products are applied in medical and health, personal care, home care, maternal and child care, and home textiles. The Company distributes its products under two major brands, including winner and Purcotton. The Company distributes its products in domestic market and to overseas markets.
Winner Medical Co., Ltd agreed to acquire an additional 65.55% stake in Hunan Pingan Medical Device Technology Co., Ltd. for approximately CNY 650 million.
WINNER MEDICAL CO., LTD. 
