March 3, 2020 / 3:00 PM / 3 months ago

BRIEF-Aowei Holding Updates On Hospital Management Agreements Entered Into By Unit

March 3 (Reuters) - Aowei Holding Ltd:

* UPDATES ON HOSPITAL MANAGEMENT AGREEMENTS ENTERED INTO BY UNIT

* RECENT GOVERNMENT POLICY WOULD ADVERSELY AFFECT OPERATION OF CO’S HOSPITAL MANAGEMENT BUSINESS

* IF HOSPITAL MANAGEMENT AGREEMENTS IS TERMINATED, PROVISION FOR LOSS OF BOOK VALUE OF INTANGIBLE ASSETS OF UNIT ABOUT RMB165.2 MILLION

* PRC LEGAL ADVISER SAYS THIS IS FORM OF FORCE MAJEURE LEADING TO PARTIES UNABLE TO CONTINUOUSLY PERFORM UNDER AGREEMENTS

* UNIT HAS ENTERED INTO TERMINATION AGREEMENTS WITH BUREAU AND HOSPITAL RESPECTIVELY ON 3 MARCH 2020

* RONGCHENG COUNTY HYGIENE AND HEALTH BUREAU REQUESTED HOSPITAL TO TERMINATE HOSPITAL MANAGEMENT AGREEMENTS WITH BAODING XINAN Source text for Eikon: Further company coverage:

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