PW MEDTECH (01358.HK): Unit Enters Liquidation; Asset Sale Plan Approved
NewTimeSpace News: On 28 September 2026, PW Medtech Group Limited (stock code: 01358.HK) announced that, in the bankruptcy liquidation proceedings of Xuzhou Yijia Medical Device Co., Ltd. (Xuzhou Yijia), an indirect wholly-owned subsidiary of the Company, the Administrator announced on 28 September 2026 that the creditors meeting resolved and approved the asset realisation plan proposed by the Administrator at the first creditors meeting to dispose of the assets of Xuzhou Yijia.
The assets of Xuzhou Yijia subject to the Asset Realisation Plan are all its assets, primarily including industrial land and factory located in Xinyi City, Jiangsu Province, equipment for the manufacturing and production of infusion set products and components, inventory and related receivables, and cash. The realisation will be conducted by way of an online auction, with the reserve price for the first auction set at 85% of the appraised value and reductions for the second and subsequent auctions capped at 20% of the previous reserve price; if the third auction fails, a public sale may be conducted within a floating range of plus or minus 5%, subject to the decision of the PRC court. The proceeds will be used to settle the outstanding liabilities of Xuzhou Yijia in the priority order prescribed by the Enterprise Bankruptcy Law of the People's Republic of China.
Xuzhou Yijia recorded loss before taxation of RMB 3.654 million and RMB 4.158 million and loss after taxation of RMB 3.747 million and RMB 4.541 million for the two years ended 31 December 2024 and 2025, with net assets of RMB 50.17 million and RMB 45.63 million and total assets of RMB 120.983 million and RMB 122.066 million as at the end of each year. The Board believes the arrangement helps avoid continuing losses and reduce overall production and management costs and is in the interests of the Company and the Shareholders as a whole; the online auction has not yet commenced and the actual loss on the disposal of the assets will depend on the outcome of the auction and subsequent audit.
NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.
