As per the terms of the Joint Venture, NVSI and Guizhou Factorr will jointly establish a new company in Guizhou Province. NVSI would contribute to 51% and Guizhou Factorr would contribute to 49% of the registered capital of the New Company.
After the New Company is established, NVSI and the New Company will enter into agreements in relation to the transfer of technical know-how of three medical products, including placenta pills, placenta blood albumin injection and placenta tissue fluid injection. NVSI will transfer the relevant technical know-how to the New Company according to the fair value assessed by an asset valuation firm.
NVSI and Guizhou Factorr confirmed that the fair value of know-how of placenta pills, placenta blood albumin injection and placenta tissue fluid injection are RMB12,000,000 (equivalent to HK$15,074,400), RMB5,000,000 (equivalent to HK$6,281,000) and RMB5,000,000 (equivalent to HK$6,281,000) respectively.
After the New Company is established, NVSI and the New Company will enter into agreements in relation to the transfer of technical know-how of three medical products, including placenta pills, placenta blood albumin injection and placenta tissue fluid injection. NVSI will transfer the relevant technical know-how to the New Company according to the fair value assessed by an asset valuation firm.
NVSI and Guizhou Factorr confirmed that the fair value of know-how of placenta pills, placenta blood albumin injection and placenta tissue fluid injection are RMB12,000,000 (equivalent to HK$15,074,400), RMB5,000,000 (equivalent to HK$6,281,000) and RMB5,000,000 (equivalent to HK$6,281,000) respectively.
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