HK Stock Market Move | Venus Medtech-B (02500) closes up more than 10%, the company recently sold 1.05% equity of Dejin Medical, which helps to focus on core business.

VENUS MEDTECH-B(02500) surged more than 10% at the close, rising 9.8% to HK$3.36 with a turnover of HK$13.7676 million. In terms of news, Kunbao Medical plans to acquire 1.05% of the equity of Dejin Medical from Qiming Medical for a total consideration of US$15 million. Qiming Medical stated that as a minority financial investor in the investee company, the sale provides the group with a suitable opportunity to realize its investment: by divesting non-core business investments, the group will be able to strengthen its cash flow, improve its working capital position, enhance overall financial flexibility, and promote the reallocation of resources to its core business. It is worth noting that Qiming Medical previously announced that the group has recently formally submitted all application materials for CE MDR certification of the Cardiovalve transcatheter tricuspid valve replacement system to the European Notification Body, marking a key step in the product's market access process in Europe and further enhancing Qiming Medical's tricuspid valve treatment matrix based on its mature main valve and pulmonary valve product lines.