HMI - Huami announces RMB959.68M minority acquisition for expansion of China's healthcare ecosystem

January, 05 2021 07:52 AM Huami Corporation American Depositary Shares each representing four Class A

Huami (HMI) signs agreement to acquire minority 29.99% stakes in China's Jiangsu Yitong Hi-Tech for a consideration of RMB959.68M in cash.Together, Huami and Jiangsu Yitong expect to expand the healthcare ecosystem for Chinese market in the long term, leveraging Yitong's access to the Chinese domestic capital market."This new partnership with Jiangsu Yitong is an investment in the future of our business in China. Our equity stake in Yitong will allow us to drive growth and shareholder value for investors in both companies," says Huami chairman and CEO Wang Huang.The transaction is expected to close in H1 2021, subject to shareholders' approval and regulatory fillings.Stock up 2.74% PM.Previously (Dec. 3, 2020): Huami and Promaxo partner for technology collaboration and integration

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Huami announces RMB959.68M minority acquisition for expansion of China's healthcare ecosystem

Company Name:	Huami Corporation American Depositary Shares each representing four Class A
Stock Symbol:	HMI
Market:	NYSE

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