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.
