Official Xuan! Important personnel changes at Vigo

Pharmaceutical Network December 18, the announcement of executive changes, Shandong Weigao Group Medical Polymer Products Co., Ltd. issued the appointment of non-executive directors and executive directors and non-executive directors of the resignation of the announcement, as follows: (1) Mr. Chen Lin has been appointed as a non-executive director of the Company, subject to shareholder approval before the actual; Appointed as a non-executive director of the Company only subject to shareholder approval, (3) Mr. Bow Jianbo has resigned as an Executive Director of the Company with effect from 14 December 2020, and (4) Ms. Chow Shuhua has resigned as a non-executive Director of the Company with effect from 14 December 2020.
the appointments of Chen Lin and Tang Zhengpeng will have to be approved by the shareholders of the Vico Group at the special general meeting of shareholders scheduled for 9 February 2021. according to
, Chen Lin, 44, joined the Vigo Group in 2000 and served as Assistant General Manager and General Manager of vigo Group from 2000 to 2002 and 2002 to 2019, respectively, with over 10 years of operational and management experience in the industry.
Mr. Chan is an Executive Director of Vigo Group Corporation and Weihai Waigao International Medical Investment Holdings Limited and, except as disclosed above, has not held any other directorship in the Group or any other public company whose securities are listed on any securities market in Hong Kong or overseas in the past three years, except as disclosed above.
Chen Lin is the son of Vigo Group and the controlling shareholder of the Company, Chen Xueli, and has no relationship with any director or senior management of Vigo Group other than as disclosed above.
Mr. Tang Zhengpeng, 49, is also a director of Vigo Group and Weihai Waigao Financial Holdings Limited, and prior to joining Vigo Group, Mr. Tang served as Assistant General Manager of Bank of Communications (Weihai) and General Manager of Minsheng Bank of China (Qingdao).
joined Vico Group in 2017 and is currently a Director of Vico Group and General Manager of Weihai Weigao Corporate Holding Company Limited, with over 20 years of experience in banking.
Tang Zhengpeng is also the Executive Director of East China CNC Co., Ltd., which is listed on the Shenzhen Stock Exchange.
Bow Jianbo resigned, focusing on orthopaedic development According to the above announcement, Bow Jianbo has resigned as executive director of Weigao Group, in order to invest more time in the development of Shandong Weigao Orthopaedic Materials Co., Ltd., effective December 14.
, according to the enterprise inspection information, Bow Jianbo previously served as the executive director of The High Group, but also served as the chairman of Shandong Weigao Orthopaedic Materials Co., Ltd.
follows an announcement by Vico Group on December 30, 2019 that insider information suggested a spin-off of Vico Orthopaedics.
On June 11 this year, Vico Group announced that it proposed to spin off Shandong Weigao Orthopaedic Materials Co., Ltd. and list it independently on the Coco Board, at which time Vico Orthopaedics had submitted an application to the Shanghai Stock Exchange for a proposal to list on the Company.
, Vico Orthopaedics is mainly engaged in the manufacture and sale of implanted orthopaedic medical devices, including spinal, trauma and joint products.
also produce surgical instruments and tools for spinal, trauma and joint implants.
according to the Shanghai Securities News, Sun Ingrui, deputy director of the regulatory department of listed companies at the CSRC, has said that a spin-off listing has three benefits for listed companies.
First, businesses can focus on areas of expertise, second, information is more transparent, independently listed companies need to be independently disclosed after the break-up, third, the valuation is more reasonable, different businesses have independent market positioning, independent valuation, after the spin-off of the enterprise valuation is more reasonable.
China Industry Information Network data show that in the orthopaedic implant market, the top five multinational arms enterprises, accounting for nearly 40% of the market, Wei high orthopaedics followed.
according to the industry report data, the top 5 orthopaedic implants market in China in 2018 and the market share are: Johnson and Johnson 13.11 percent, Jemma Bangmei 8.67 percent, Stryker 6.56 percent, Medtron 5.14 percent, Xerrax 4.4 percent.
the top five concentration of 37.93 percent, import manufacturers occupy a dominant position, domestic Vigo shares with 4.05 percent market share followed closely, Dabo Medical 2.86 percent ranked second in china.
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