Walvax Biotechnology records asset impairment, transfers subsidiary stake to chairman

Walvax Biotechnology's board approved a provision for asset impairment and write-offs totaling 182,067,076.01 yuan for Q2 2025. After a reversal of previous provisions, this results in a net reduction of 122,791,245.58 yuan in profit. This decision includes a write-off of assets with a book value of 97,510,078.26 yuan.

Concurrently, the company is transferring a 4.9733% minority stake in its subsidiary, Yuxi Walvax Biotechnology Co., Ltd., to its chairman, Li Yunchun, for 93,800,000.00 yuan. This transfer follows an earlier acquisition of the same stake for the same price, which had not yet completed the industrial and commercial change registration.

Additionally, Yuxi Walvax Biotechnology, a holding subsidiary, will apply for a 100,000,000.00 yuan credit line from Bank of Communications. The company also announced a half-year profit distribution plan for 2025, proposing a cash dividend of 0.30 yuan per 10 shares, totaling 47,980,456.23 yuan.