STOCKS TELEGRAPH

Tag: BIMI

  • BIMI International Medical Inc. (BIMI) Stock Soaring in Afterhours, Here’s What you Should Know.

    BIMI International Medical Inc. (BIMI) is engaged in the supply of healthcare products. It offers nutritional supplements and healthy food along with a personal care product line to its customers. The company also provides IT-related R&D programs.

    The price of BIMI stock during the regular trading on February 7, 2022, was $1.71 with an increase of 1.79%. At last check in the aftermarket, the stock was further up by 8.19%.

    BIMI: Events and Happenings

    On February 03, 2022, BIMI updated about its entry into an Amendment and Settlement contract to modify the Stock Acquisition Contract related to the purchase of Chaohu Zhongshan Minimally Invasive Hospital. The modification decreased the after-closing performance targets and payments and settled the payments as an outcome of modification.

    On February 02, 2022, BIMI reported a 1-for-5 reverse split of the company’s common stock with effect from February 3. Its common stock is traded on Nasdaq on a split-adjusted basis. Post-split, there is a reduction in the number of shares of the company’s outstanding common stock.

    On December 21, 2021, BIMI informed about signing a stock acquisition deal with Bengbu Mali OB-GYN Hospital. The cumulative purchase price of the hospital is $16.7 million. On November 18, 2021, BIMI reported about its entry into a Securities Acquisition Deal with two institutional investors to sell its senior secured convertible notes in a private placement.

    BIMI: Key Financials

    On November 15, 2021, BIMI released its financial outcomes for the Q3 2021 ended September 30, 2021. Some of the key points are as follows.

    Revenue

    Revenues recorded in Q2 2021 were $13.7 million compared to $3.09 million in the same quarter of 2020. The company reported an incline of $10.6 million or 345.7% in revenue over the period of the year.

    EPS

    Basic and diluted net loss per share in Q3 2021 was $1.7 million or $0.06 compared to $1.86 million or $0.19 in the same quarter of 2020.

    Conclusion

    BIMI’s stock down-performed by 68% in the last six months due to economic strains by the pandemic. The company’s recent stock climb is the result of uncertain factors as there is no recent press release, SEC filing, or events on the company’s official calendar.

  • BOQI International Medical Inc. (BIMI) stock rises during pre-market trading. Why is it so?

    BOQI International Medical Inc. (BIMI) stock rises during pre-market trading. Why is it so?

    BOQI International Medical Inc. (BIMI) stock soared by 4.82% in the last trading close while the BIMI stock price continued to rise by 4.60% in the pre-market trading session. As of now, any recent news does not follow the rise in BIMI stock. BOQI International Medical is dedicated towards health industry with its special focus on providing healthcare products and related services.

    Recent Past Developments

    Memorandum of Understanding

    • BIMI announced that on March 24, 2021, BOQI International Medical signed a Memorandum of Understanding with two independent sellers with the goal of attaining three hospitals: Yunnan Yuxi Minkang Hospital, Wuzhou Qiangsheng Hospital, and Suzhou Eurasia Hospital. All three companies’ shares are owned entirely by the Sellers.

    BOQI International Medical Inc. and the Sellers have reached a tentative agreement on mergers and acquisitions in accordance with the MOU. They have decided to sign a Stock Purchase Agreement after fulfilling the requisite hospital tests and evaluations. BOQI International Medical would pay the consideration in cash or BIMI common stock at a price of $3.00 per share after signing the Agreement. Also the sellers have agreed to give BIMI $75,000 as a deposit in three days right after signing the MOU.

    Signed a New Offering

    • On March 1, 2021 BOQI International Medical announced that they have finalized a private placement of $5,400,000 of its senior convertible notes to two institutional investors. The private placement was closed on February 26, 2021. BIMI and the Investors decided to lift the maximum amount of Convertible Notes that can be bought under the Securities Purchase Agreement from $2,100,000 to $5,400,000 at a 16.67 percent original issue discount ($4,500,000 net).

    BIMI will also give warrants to the Investors to buy an additional 720,000 shares of BIMI’s common stock at a price of $2.845 per share. The conversion of $3.3 million in newly issued Convertible Notes and the exercise of newly issued Warrants are also open to stockholder and regulatory approvals, as well as a beneficial ownership restriction. BOQI International Medical is planning to utilize the net amount generated through this offering for general corporate and working capital purposes. And lastly FT Global Capital is working as the exclusive placement agent for the offering.

  • BOQI International Medical Inc [BIMI] Rallies After 1026% Revenue Growth

    BOQI International Medical Inc [BIMI] Rallies After 1026% Revenue Growth

    BOQI International Medical Inc [NASDAQ:BIMI] is one of the top performers this afternoon, at a time when key indices have turned negative. The stock is currently up by over 50% and gaining. It’s upside momentum follows the release of stronger than expected Q2 results, including a huge increase in revenues compared to a similar period last year.

    Breaking down the results, the company announced that total revenues rose by over 1026% compared to Q2 of 2019. The company also announced that its gross profit margins rose by 22.77% a significant increase when compared to Q2 of 2019 when it recorded a gross profit margin of 4.35%. The company also reported that its net income in Q2 of 2020 rose by 629% when compared to Q2 of 2019.

    The company attributed its strong revenues growth to Guanzan Group’s sales of generic medications and medical devices. Guanzan Group is the latest asset purchase by BOQI International and one that has proven to be pivotal to the company’s revenue growth in Q2.

    The revenue growth was also attributed to the sale of products made by t NF Group. It also attributed its revenue growth to the provision of technical services and partnerships in product processing services. The company’s gross profit margins for the quarter wholesale business mainly in the wholesale medical devices and wholesale medical segments which both grew by over 20% in the quarter.

    The company’s net profits also recorded massive growth compared to a similar quarter in 2019. In specifics, the company reported a net profit of $4,673,854 when compared to a net loss of $883,245 in a similar period in 2019.

    The company attributed the increase in net profits to money made from the sale of the NF Group. The company’s liquidity position also improved from $36,674 to $109,402.

    Commenting on the results, CEO Tiewei Song said that they were happy with the Q2 results. He added that they had bought Guanzan Group allowing them to better align with the present business environment and long term growth.  He added that with more healthcare facilities opening up, the company expected demand for its products to rise, thereby adding value to the company’s shareholders.

    About BOQI International Medical Inc

    BOQI International Medical Inc is a distributor of pharmaceuticals and other healthcare products. The company runs through a network of 16 stores and mainly distributes its products in China. It is headquartered in Dalian, China.