BIMI International Medical Inc. Announces Subsidiary Phenix Bio Inc's Appointment of Mainland China Non-Exclusive Distributor; Must Make Annual Purchases Of At Least $5M To Maintain Distributor Status
Portfolio Pulse from Benzinga Newsdesk
BIMI International Medical Inc. has announced that its subsidiary, Phenix Bio Inc, has appointed a non-exclusive distributor in Mainland China. The distributor is required to make annual purchases of at least $5M to maintain its status.
October 30, 2023 | 1:29 pm
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BIMI International Medical Inc. has appointed a non-exclusive distributor in Mainland China through its subsidiary, Phenix Bio Inc. This could potentially increase the company's sales and presence in the Chinese market.
The appointment of a non-exclusive distributor in Mainland China could potentially increase BIMI's sales and market presence. The distributor's requirement to make annual purchases of at least $5M provides a guaranteed revenue stream for BIMI, which could positively impact its stock price in the short term.
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