Qingdao Haier Biomedical Nixes Plan to Absorb Shanghai RAAS; Shares Fall 11%

MT Newswires Live

2025/01/07

Qingdao Haier Biomedical (SHA:688139) terminated its plan to absorb and merge with subsidiary Shanghai RAAS Blood Products (SHE:002252).

The company cited the complexity of the transaction's structure for the termination, according to a Tuesday filing with the Shanghai bourse.

Shares of the biomedical cold chain storage manufacturer were down 11% in recent trade, while shares of Shanghai RAAS fell almost 6%.

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