2022 Q3 Form 10-Q Financial Statement

#000121390022050072 Filed on August 22, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $7.315M $4.927M $1.877M
YoY Change -46.91% -46.77% -66.05%
Cost Of Revenue $5.730M $3.702M $1.867M
YoY Change -51.23% -49.23% -136.4%
Gross Profit $1.585M $1.225M $10.18K
YoY Change -21.9% -37.63% -99.9%
Gross Profit Margin 21.66% 24.87% 0.54%
Selling, General & Admin $4.677M $3.504M $3.181M
YoY Change 30.84% 65.67% -1063.93%
% of Gross Profit 295.12% 285.96% 31247.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.46K $36.62K $64.97K
YoY Change -34.61% -53.53% -108.66%
% of Gross Profit 2.49% 2.99% 638.21%
Operating Expenses $4.677M $3.504M $3.181M
YoY Change 30.84% 65.67% -1063.93%
Operating Profit -$3.092M -$2.279M -$3.171M
YoY Change 100.09% 1414.78% -128.85%
Interest Expense $97.37K $111.6K -$100.5K
YoY Change -215.49% 18.83% -108.51%
% of Operating Profit
Other Income/Expense, Net -$622.7K -$1.859M -$264.7K
YoY Change 738.06% 1559.44% -96.21%
Pretax Income -$3.715M -$4.138M -$29.66M
YoY Change 118.01% 1476.53% 623.51%
Income Tax -$575.00 $8.210K -$18.57K
% Of Pretax Income
Net Earnings -$3.713M -$4.145M -$29.67M
YoY Change 117.96% 1401.87% 1072.86%
Net Earnings / Revenue -50.76% -84.12% -1580.63%
Basic Earnings Per Share -$0.16 -$0.18
Diluted Earnings Per Share -$0.16 -$0.18 -$27.67M
COMMON SHARES
Basic Shares Outstanding 22.86M shares 22.86M shares
Diluted Shares Outstanding 23.19M shares 22.86M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.047M $5.034M $4.798M
YoY Change 398.99% 703.5% 3327.04%
Cash & Equivalents $1.047M $5.034M $4.798M
Short-Term Investments
Other Short-Term Assets $5.669M $7.392M $4.749M
YoY Change -48.32% -25.93% -72.82%
Inventory $1.230M $3.028M $2.640M
Prepaid Expenses
Receivables $7.093M $5.945M $7.005M
Other Receivables $2.346M $2.779M $1.968M
Total Short-Term Assets $17.38M $24.18M $21.16M
YoY Change -33.91% -5.65% -15.97%
LONG-TERM ASSETS
Property, Plant & Equipment $2.884M $3.112M $3.521M
YoY Change -52.81% -50.94% 286.97%
Goodwill $8.376M $8.376M $8.376M
YoY Change -7.62% 21.14%
Intangibles $15.87K $16.79K $18.04K
YoY Change
Long-Term Investments
YoY Change
Other Assets $366.4K $197.2K $207.6K
YoY Change 79.44% 7.02% 9.24%
Total Long-Term Assets $15.62M $16.04M $16.97M
YoY Change -57.53% -56.63% 111.58%
TOTAL ASSETS
Total Short-Term Assets $17.38M $24.18M $21.16M
Total Long-Term Assets $15.62M $16.04M $16.97M
Total Assets $33.00M $40.22M $38.13M
YoY Change -47.68% -35.77% 14.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.232M $5.850M $7.339M
YoY Change -68.58% -46.13% 25.46%
Accrued Expenses $3.176M $3.085M $3.083M
YoY Change 96.39% 101.62% 250.36%
Deferred Revenue
YoY Change
Short-Term Debt $1.383M $1.657M $1.799M
YoY Change -76.86% -75.72% -57.46%
Long-Term Debt Due $183.2K $369.2K $369.2K
YoY Change 1130.63%
Total Short-Term Liabilities $18.90M $21.51M $22.09M
YoY Change -21.86% -22.23% 41.89%
LONG-TERM LIABILITIES
Long-Term Debt $475.0K $471.5K $538.0K
YoY Change -40.21% -48.97% -25.28%
Other Long-Term Liabilities $3.419M $3.840M $4.162M
YoY Change 3.32% 13.18% 20708.95%
Total Long-Term Liabilities $3.894M $4.312M $4.700M
YoY Change -5.11% -0.12% 535.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.90M $21.51M $22.09M
Total Long-Term Liabilities $3.894M $4.312M $4.700M
Total Liabilities $22.79M $25.82M $26.79M
YoY Change -20.16% -19.87% 62.47%
SHAREHOLDERS EQUITY
Retained Earnings -$47.90M
YoY Change
Common Stock $65.80M $65.86M $55.23M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.798M $14.16M $11.19M
YoY Change
Total Liabilities & Shareholders Equity $33.00M $40.22M $38.13M
YoY Change -47.68% -35.77% 14.84%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income -$3.713M -$4.145M -$29.67M
YoY Change 117.96% 1401.87% 1072.86%
Depreciation, Depletion And Amortization $39.46K $36.62K $64.97K
YoY Change -34.61% -53.53% -108.66%
Cash From Operating Activities -$8.285M $3.106M $1.272M
YoY Change -895.47% -267.02% -281.74%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $989.9K
YoY Change -100.0% -100.0% -807.04%
Acquisitions
YoY Change
Other Investing Activities -$180.0K $0.00 $118.2K
YoY Change 105.64% -100.0% -101.08%
Cash From Investing Activities -$180.0K $0.00 $1.108M
YoY Change -88.13% -100.0% -110.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.690M 247.2K 1.626M
YoY Change 1708.6% -283.99% 261.24%
NET CHANGE
Cash From Operating Activities -8.285M 3.106M 1.272M
Cash From Investing Activities -180.0K 0.000 1.108M
Cash From Financing Activities 4.690M 247.2K 1.626M
Net Change In Cash -3.776M 3.353M 4.006M
YoY Change 1647.67% -244.43% -135.39%
FREE CASH FLOW
Cash From Operating Activities -$8.285M $3.106M $1.272M
Capital Expenditures $0.00 $0.00 $989.9K
Free Cash Flow -$8.285M $3.106M $282.3K
YoY Change -435.31% -303.76% -150.42%

Facts In Submission

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ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2021Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3565309 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22859264 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4741407 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12525879 shares
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.55
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.85
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-6886824 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-3566365 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
125781 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
118802 usd
us-gaap Inventory Write Down
InventoryWriteDown
23620 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-572 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4739 usd
us-gaap Share Based Compensation
ShareBasedCompensation
585000 usd
us-gaap Environmental Remediation Expense
EnvironmentalRemediationExpense
130419 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1108915 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1607105 usd
bimi Increase Decreases In Accounts Receivable
IncreaseDecreasesInAccountsReceivable
-1061398 usd
bimi Increase Decreases In Accounts Receivable
IncreaseDecreasesInAccountsReceivable
2453148 usd
bimi Increase Decrease In Advances To Supplier
IncreaseDecreaseInAdvancesToSupplier
-7338675 usd
bimi Increase Decrease In Advances To Supplier
IncreaseDecreaseInAdvancesToSupplier
1786217 usd
bimi Increase Decrease In Prepaid Deferred Expenses And Other Assets
IncreaseDecreaseInPrepaidDeferredExpensesAndOtherAssets
460017 usd
bimi Increase Decrease In Prepaid Deferred Expenses And Other Assets
IncreaseDecreaseInPrepaidDeferredExpensesAndOtherAssets
35075 usd
bimi Increase Decrease In Inventories Assets
IncreaseDecreaseInInventoriesAssets
387902 usd
bimi Increase Decrease In Inventories Assets
IncreaseDecreaseInInventoriesAssets
3972555 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-509028 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-145153 usd
bimi Increase Decrease In Other Account Payable
IncreaseDecreaseInOtherAccountPayable
-1489629 usd
bimi Increase Decrease In Other Account Payable
IncreaseDecreaseInOtherAccountPayable
3123104 usd
bimi Intangible Assets Recognized From The Equity Acquisition Of Boqi Zhengji Group
IntangibleAssetsRecognizedFromTheEquityAcquisitionOfBoqiZhengjiGroup
379935 usd
bimi Intangible Assets Recognized From The Equity Acquisition Of Boqi Zhengji Group
IntangibleAssetsRecognizedFromTheEquityAcquisitionOfBoqiZhengjiGroup
3180564 usd
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-388250 usd
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-158463 usd
bimi Increase Decreases In Accrued Taxes Payable
IncreaseDecreasesInAccruedTaxesPayable
-139035 usd
bimi Increase Decreases In Accrued Taxes Payable
IncreaseDecreasesInAccruedTaxesPayable
-389759 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
183496 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-146374 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
954999 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3589450 usd
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
12341 usd
bimi Deposit For The Acquisition Of Cogmer
DepositForTheAcquisitionOfCogmer
-75192 usd
bimi Purchase Of Property Plant Equipments
PurchaseOfPropertyPlantEquipments
375235 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-287702 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
553490 usd
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
256323 usd
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
350416 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
4065000 usd
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
142751 usd
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
177253 usd
bimi Amount Financed From Related Parties
AmountFinancedFromRelatedParties
67740 usd
bimi Amount Financed From Related Parties
AmountFinancedFromRelatedParties
164841 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-331334 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4255662 usd
bimi Effect Of Exchanges Rate On Cash
EffectOfExchangesRateOnCash
-387183 usd
bimi Effect Of Exchanges Rate On Cash
EffectOfExchangesRateOnCash
117396 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
236482 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
495906 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4797849 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
135308 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5034331 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
631214 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
133009 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
32003 usd
us-gaap Interest Paid Net
InterestPaidNet
122539 usd
us-gaap Interest Paid Net
InterestPaidNet
138237 usd
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
2000 usd
bimi Issuance Of Common Share For Equity
IssuanceOfCommonShareForEquity
2000 usd
bimi Issuance Of Common Share For Equity Acquisition Of Minkang Hospital
IssuanceOfCommonShareForEquityAcquisitionOfMinkangHospital
4000 usd
bimi Common Stock To Be Issued Upon Conversion Of Convertible Promissory Notes
CommonStockToBeIssuedUponConversionOfConvertiblePromissoryNotes
600 usd
bimi Issuance Of Common Share Upon Conversion Of Convertible Notes
IssuanceOfCommonShareUponConversionOfConvertibleNotes
104 usd
bimi Issuance Of Shares Of Common Stock For Payment Of Improvements To Offices
IssuanceOfSharesOfCommonStockForPaymentOfImprovementsToOffices
696896 usd
bimi Issuance Of Common Shares Upon Cashless Exercises Of Warrants
IssuanceOfCommonSharesUponCashlessExercisesOfWarrants
163 usd
bimi Intangible Assets Recognized From Equity Acquisition Of Pharmacy Group
IntangibleAssetsRecognizedFromEquityAcquisitionOfPharmacyGroup
10443494 usd
bimi Goodwill Recognized From Equity Acquisition Of Guanzan Group
GoodwillRecognizedFromEquityAcquisitionOfGuanzanGroup
7154392 usd
bimi Goodwill Recognized From Equity Acquisition Of Minkang Qiangsheng And Eurasia Hospital
GoodwillRecognizedFromEquityAcquisitionOfMinkangQiangshengAndEurasiaHospital
25354174 usd
bimi Outstanding Payment For Equity Acquisition Of Guanzan Group
OutstandingPaymentForEquityAcquisitionOfGuanzanGroup
3065181 usd
bimi Outstanding Payment For Equity Acquisition
OutstandingPaymentForEquityAcquisition
6100723 usd
bimi Outstanding Payment For Equity Acquisition Of Zhuoda
OutstandingPaymentForEquityAcquisitionOfZhuoda
6100723 usd
bimi Outstanding Payment For Equity Acquisition Of Minkang Qiangsheng And Eurasia Hospitals
OutstandingPaymentForEquityAcquisitionOfMinkangQiangshengAndEurasiaHospitals
13023556 usd
us-gaap Nature Of Operations
NatureOfOperations
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. ORGANIZATION AND BUSINESS BACKGROUND</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">BIMI International Medical, Inc. (the “Company” or “BIMI”) was incorporated in the State of Delaware as Galli Process, Inc. on October 31, 2000. On February 7, 2002, the Company changed its name to Global Broadcast Group, Inc. On November 12, 2004, the Company changed its name to Diagnostic Corporation of America. On March 15, 2007, the Company changed its name to NF Energy Saving Corporation of America, and on August 24, 2009, the Company changed its name to NF Energy Saving Corporation. On December 16, 2019, the Company changed its name to BOQI International Medical Inc., to reflect the Company’s refocus of its business from the energy saving industry to the health care industry. Since March 7, 2012, the common stock of the Company (the “Common Stock”) has been traded on the Nasdaq Capital Market.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Until October 14, 2019, the Company, through NF Energy Saving Investment Limited and its subsidiaries (the “NF Group”), operated in the energy saving enhancement technology industry in the People’s Republic of China (the “PRC”). The NF Group focused on providing services relating to energy saving technology, optimization design, energy saving reconstruction of pipeline networks and contractual energy management for the electric power, petrochemical, coal, metallurgy, construction, and municipal infrastructure development industries in the PRC and the manufacture and sales of energy-saving flow control equipment. In late 2019, the Company committed to a plan to dispose of all its equity interests in the NF Group and on March 31, 2020, the Company entered into a stock purchase agreement (the “NF SPA”) to sell the NF Group. The sale of the NF Group closed on June 23, 2020. Please refer to NOTE 7 for more information relating to the sale of the NF Group.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 14, 2019, the Company acquired 100% of the equity interests in Lasting Wisdom Holdings Limited (“Lasting”), a limited company incorporated under the laws of the British Virgin Islands (“BVI”). Lasting has limited operating activities since incorporation except for holding the ownership interest in Pukung Limited (“Pukung”), a company organized under the laws of Hong Kong. Pukung owns 100% of the equity interest in Beijing Xinrongxin Industrial Development Co., Ltd. (“Xinrongxin”), a company organized under the laws of the PRC. Xinrongxin owns all the ownership interest of Dalian Boqi Zhengji Pharmacy Chain Co., Ltd. (“Boqi Zhengji”). Boqi Zhengji operated 16 retail pharmacy stores in China at the time of the acquisition.. Xinrongxin also owns 100% equity interests in Dalian Boyi Technology Co., Ltd. (“Dalian Boyi”), a subsidiary established in January 2020 and responsible for the Company’s R&amp;D and other technology related functions. On June 24, 2020, the Company established a wholly owned subsidiary Boyi (Liaoning) Technology Co.,Ltd (“Liaoning Boyi”), in order to be qualified to participate in local healthcare projects. On December 22, 2020, the Company established another subsidiary, Bimai Pharmaceutical (Chongqing) Co., Ltd., to replace Xinrongxin as the holding company owning all the retail, wholesale and hospital operations in China.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 18, 2020, the Company, through its wholly owned subsidiary, Xinrongxin, acquired 100% of the equity interests in Chongqing Guanzan Technology Co., Ltd. (“Guanzan”). Guanzan holds an 80% equity interest in Chongqing Shude Pharmaceutical Co., Ltd. (“Shude”, together with Guanzan, the “Guanzan Group”). Guanzan also owns 100% equity interest in Chongqing Lijiantang Pharmaceutical Co. Ltd., (‘Lijiantang”), a subsidiary established in May 2020. Lijiantang operates four retail pharmacy stores in China (collectively, the “Lijiantang Pharmacy Group”). The Lijiantang Pharmacy Group engages in the retail sale of medicine and other healthcare products to customers through its directly-owned stores. The Lijiantang Pharmacy Group offers a wide range of products, including prescription and over-the-counter (“OTC”) drugs, nutritional supplements, traditional Chinese medicines, personal and family care products and medical devices, as well as miscellaneous items.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 11, 2020, the Company entered into a stock purchase agreement to sell Boqi Zhengji. The sale of the Boqi Zhengji was closed by the end of 2020, although the government record was not updated until February 2, 2021 due to the Chinese government’s alternative working schedule and other delays caused by COVID-19.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 9, 2020, the Company entered into an agreement to acquire 100% of the equity interests in Chongqing Guoyitang Hospital (“Guoyitang”), the owner and operator of a private general hospital in Chongqing City, a city in Southwest China. The transaction closed on February 2, 2021. On December 15, 2020, the Company entered into a stock purchase agreement to acquire Chaohu Zhongshan Minimally Invasive Hospital (“Zhongshan”), a private hospital in the Southeast region of China. The transaction closed on February 5, 2021.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 9, 2021, the Company entered into a stock purchase agreement to acquire three private hospitals in the PRC, Wuzhou Qiangsheng Hospital (“Qiangsheng”), Suzhou Eurasia Hospital(“Eurasia”) and Yunnan Yuxi MinKang hospital (“Minkang”). The transaction closed on May 6, 2021.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 21, 2021, Bimai Hospital Management (Chongqing) Co. Ltd. was incorporated in the PRC by the Company to manage the operations of the Company’s medical services segment (“Bimi”). Bimi together with Guoyitang, Zhongshan, Qiangsheng , Eurasia and Minkang comprise the Company’s medical services group, which operate hospitals.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 21, 2021, Pusheng Pharmaceutical Co., Ltd. was incorporated in the PRC by the Company to manage its wholesale distribution of generic drugs.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 10, 2021, the Company entered into a stock purchase agreement to acquire 100% of the equity interests in Chongqing Zhuoda Pharmaceutical Co., LTD (“Zhuoda”). The transaction closed on October 8, 2021.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s wholesale segments are engaged in the distribution of medical devices and pharmaceuticals.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 20, 2021, the Company entered into a stock purchase agreement to acquire Bengbu Mali OB-GYN Hospital Co., Ltd. (“Mali Hospital”). The closing of the Mali Hospital SPA is expected to take place in September 2022, subject to necessary regulatory approvals.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 9, 2022, the Company entered into a stock purchase agreement the Chairman of the Board of the Company, Mr. Fnu Oudom, whereby Mr. Oudom agreed to purchase 12,500,000 shares of Common Stock for $5 million, or $0.40 per share (the “Chairman’s Shares”), subject to the approval of the stockholders of the Company. The purchase price per share reflects a 9% discount to the five-day average closing price of the Common Stock on NASDAQ before signing the SPA (the closing price of the Common Stock on Nasdaq on such date was $0.52). On June 9, 2022, Mr. Oudom provided the Company with $5 million as interim financing in consideration for the issuance of a $5 million subordinated promissory note (the “Chairman’s Note”), bearing no interest, which will become due and payable immediately if the sale of the Chairman’s Shares is not approved by the Company’s stockholders. The Company expects to seek stockholder approval of the sale at the upcoming annual meeting of stockholders. If approved and the Chairman’s Shares are issued, all obligations under the Chairman’s Note will have been performed and discharged in full without any payment of interest. The Company has no obligation to file a registration statement with the SEC for the resale of the Chairman’s Shares.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration:underline">As of June 30,2022, the details of the Company’s major subsidiaries are as follows:</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; border-bottom: black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Place of incorporation and <br/> kind of legal entity</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Principal activities and <br/> place of operation</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Effective interest held</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 29%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lasting Wisdom Holdings Limited (“Lasting”)</span></td> <td style="vertical-align: top; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; width: 28%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">British Virgin Island, a limited liability company</span></td> <td style="vertical-align: top; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; width: 29%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment holding</span></td> <td style="vertical-align: bottom; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pukung Limited (“Pukung”)</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hong Kong, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment holding</span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beijing Xinrongxin Industrial Development Co., Ltd. (“Xinrongxin”)</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment holding </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Boyi (Liaoning) Technology Co., Ltd (“Liaoning Boyi”)</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IT Technology service research and development</span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dalian Boyi Technology Co., Ltd (“Dalian Boyi”)</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IT Technology service research and development </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chongqing Guanzan Technology Co., Ltd. (“Guanzan”)</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wholesale distribution of medical devices in the PRC</span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chongqing Shude Pharmaceutical Co., Ltd.(“Shude”)</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wholesale distribution of generic drugs in the PRC</span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">95</span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chongqing Lijiantang Pharmaceutical Co., Ltd.(“Lijiantang”)</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wholesale distribution of generic drugs in the PRC</span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bimai Pharmaceutical (Chongqing) Co., Ltd. </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment holding</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chongqing Guoyitang Hospital Co., Ltd. </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hospital in the PRC</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chongqing Huzhongtang Healthy Technology Co., Ltd. </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wholesale distribution of generic drugs in the PRC</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chaohu Zhongshan Minimally Invasive Hospital Co.,Ltd. </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hospital in the PRC</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yunnan Yuxi Minkang Hospital Co., Ltd. </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hospital in the PRC</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wuzhou Qiangsheng Hospital Co., Ltd. </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hospital in the PRC</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Suzhou Eurasia Hospital Co., Ltd.</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hospital in the PRC</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bimai Hospital Management (Chongqing) Co. Ltd </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hospital management in the PRC</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pusheng Pharmaceutical Co., Ltd </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wholesale distribution of generic drugs in the PRC</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chongqing Zhuoda Pharmaceutical Co., Ltd(“Zhuoda”)</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wholesale distribution of generic drugs in the PRC</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chongqing Qianmei Medical Devices Co., Ltd (“Qianmei”)</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC, a limited liability company</span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wholesale distribution of medical devices in the PRC</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</span></td> <td style="vertical-align: bottom; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> </table>
CY2019Q4 bimi Transfer Of Ownership Description
TransferOfOwnershipDescription
, 2019, the Company acquired 100% of the equity interests in Lasting Wisdom Holdings Limited (“Lasting”), a limited company incorporated under the laws of the British Virgin Islands (“BVI”). Lasting has limited operating activities since incorporation except for holding the ownership interest in Pukung Limited (“Pukung”), a company organized under the laws of Hong Kong. Pukung owns 100% of the equity interest in Beijing Xinrongxin Industrial Development Co., Ltd. (“Xinrongxin”), a company organized under the laws of the PRC. Xinrongxin owns all the ownership interest of Dalian Boqi Zhengji Pharmacy Chain Co., Ltd. (“Boqi Zhengji”). Boqi Zhengji operated 16 retail pharmacy stores in China at the time of the acquisition.. Xinrongxin also owns 100% equity interests in Dalian Boyi Technology Co., Ltd. (“Dalian Boyi”), a subsidiary established in January 2020 and responsible for the Company’s R&D and other technology related functions. On June 24, 2020, the Company established a wholly owned subsidiary Boyi (Liaoning) Technology Co.,Ltd (“Liaoning Boyi”), in order to be qualified to participate in local healthcare projects. On December 22, 2020, the Company established another subsidiary, Bimai Pharmaceutical (Chongqing) Co., Ltd., to replace Xinrongxin as the holding company owning all the retail, wholesale and hospital operations in China.On March 18, 2020, the Company, through its wholly owned subsidiary, Xinrongxin, acquired 100% of the equity interests in Chongqing Guanzan Technology Co., Ltd. (“Guanzan”). Guanzan holds an 80% equity interest in Chongqing Shude Pharmaceutical Co., Ltd. (“Shude”, together with Guanzan, the “Guanzan Group”). Guanzan also owns 100% equity interest in Chongqing Lijiantang Pharmaceutical Co. Ltd., (‘Lijiantang”), a subsidiary established in May 2020. Lijiantang operates four retail pharmacy stores in China (collectively, the “Lijiantang Pharmacy Group”). The Lijiantang Pharmacy Group engages in the retail sale of medicine and other healthcare products to customers through its directly-owned stores. The Lijiantang Pharmacy Group offers a wide range of products, including prescription and over-the-counter (“OTC”) drugs, nutritional supplements, traditional Chinese medicines, personal and family care products and medical devices, as well as miscellaneous items. On December 11, 2020, the Company entered into a stock purchase agreement to sell Boqi Zhengji. The sale of the Boqi Zhengji was closed by the end of 2020, although the government record was not updated until February 2, 2021 due to the Chinese government’s alternative working schedule and other delays caused by COVID-19. On December 9, 2020, the Company entered into an agreement to acquire 100% of the equity interests in Chongqing Guoyitang Hospital (“Guoyitang”), the owner and operator of a private general hospital in Chongqing City, a city in Southwest China. The transaction closed on February 2, 2021. On December 15, 2020, the Company entered into a stock purchase agreement to acquire Chaohu Zhongshan Minimally Invasive Hospital (“Zhongshan”), a private hospital in the Southeast region of China. The transaction closed on February 5, 2021. On April 9, 2021, the Company entered into a stock purchase agreement to acquire three private hospitals in the PRC, Wuzhou Qiangsheng Hospital (“Qiangsheng”), Suzhou Eurasia Hospital(“Eurasia”) and Yunnan Yuxi MinKang hospital (“Minkang”). The transaction closed on May 6, 2021. On April 21, 2021, Bimai Hospital Management (Chongqing) Co. Ltd. was incorporated in the PRC by the Company to manage the operations of the Company’s medical services segment (“Bimi”). Bimi together with Guoyitang, Zhongshan, Qiangsheng , Eurasia and Minkang comprise the Company’s medical services group, which operate hospitals. On April 21, 2021, Pusheng Pharmaceutical Co., Ltd. was incorporated in the PRC by the Company to manage its wholesale distribution of generic drugs. On September 10, 2021, the Company entered into a stock purchase agreement to acquire 100% of the equity interests in Chongqing Zhuoda Pharmaceutical Co., LTD (“Zhuoda”). The transaction closed on October 8, 2021. The Company’s wholesale segments are engaged in the distribution of medical devices and pharmaceuticals. On December 20, 2021, the Company entered into a stock purchase agreement to acquire Bengbu Mali OB-GYN Hospital Co., Ltd. (“Mali Hospital”). The closing of the Mali Hospital SPA is expected to take place in September 2022, subject to necessary regulatory approvals. On June 9, 2022, the Company entered into a stock purchase agreement the Chairman of the Board of the Company, Mr. Fnu Oudom, whereby Mr. Oudom agreed to purchase 12,500,000 shares of Common Stock for $5 million, or $0.40 per share (the “Chairman’s Shares”), subject to the approval of the stockholders of the Company. The purchase price per share reflects a 9% discount to the five-day average closing price of the Common Stock on NASDAQ before signing the SPA (the closing price of the Common Stock on Nasdaq on such date was $0.52). On June 9, 2022, Mr. Oudom provided the Company with $5 million as interim financing in consideration for the issuance of a $5 million subordinated promissory note (the “Chairman’s Note”), bearing no interest, which will become due and payable immediately if the sale of the Chairman’s Shares is not approved by the Company’s stockholders. The Company expects to seek stockholder approval of the sale at the upcoming annual meeting of stockholders. If approved and the Chairman’s Shares are issued, all obligations under the Chairman’s Note will have been performed and discharged in full without any payment of interest. The Company has no obligation to file a registration statement with the SEC for the resale of the Chairman’s Shares. As of June 30,2022, the details of the Company’s major subsidiaries are as follows:  Name   Place of incorporation and kind of legal entity   Principal activities and place of operation   Effective interest held   Lasting Wisdom Holdings Limited (“Lasting”)   British Virgin Island, a limited liability company   Investment holding     100 %                   Pukung Limited (“Pukung”)   Hong Kong, a limited liability company   Investment holding     100 %                   Beijing Xinrongxin Industrial Development Co., Ltd. (“Xinrongxin”)   The PRC, a limited liability company   Investment holding     100 %                   Boyi (Liaoning) Technology Co., Ltd (“Liaoning Boyi”)   The PRC, a limited liability company   IT Technology service research and development     100 %                   Dalian Boyi Technology Co., Ltd (“Dalian Boyi”)   The PRC, a limited liability company   IT Technology service research and development     100 %                   Chongqing Guanzan Technology Co., Ltd. (“Guanzan”)   The PRC, a limited liability company   Wholesale distribution of medical devices in the PRC     100 %                   Chongqing Shude Pharmaceutical Co., Ltd.(“Shude”)   The PRC, a limited liability company   Wholesale distribution of generic drugs in the PRC     95 %                   Chongqing Lijiantang Pharmaceutical Co., Ltd.(“Lijiantang”)   The PRC, a limited liability company   Wholesale distribution of generic drugs in the PRC     100 % Bimai Pharmaceutical (Chongqing) Co., Ltd.   The PRC, a limited liability company   Investment holding     100 %                   Chongqing Guoyitang Hospital Co., Ltd.   The PRC, a limited liability company   Hospital in the PRC     100 %                   Chongqing Huzhongtang Healthy Technology Co., Ltd.   The PRC, a limited liability company   Wholesale distribution of generic drugs in the PRC     100 %                   Chaohu Zhongshan Minimally Invasive Hospital Co.,Ltd.   The PRC, a limited liability company   Hospital in the PRC     100 %                   Yunnan Yuxi Minkang Hospital Co., Ltd.   The PRC, a limited liability company   Hospital in the PRC     100 %                   Wuzhou Qiangsheng Hospital Co., Ltd.   The PRC, a limited liability company   Hospital in the PRC     100 %                   Suzhou Eurasia Hospital Co., Ltd.   The PRC, a limited liability company   Hospital in the PRC     100 %                   Bimai Hospital Management (Chongqing) Co. Ltd   The PRC, a limited liability company   Hospital management in the PRC     100 %                   Pusheng Pharmaceutical Co., Ltd   The PRC, a limited liability company   Wholesale distribution of generic drugs in the PRC     100 %                   Chongqing Zhuoda Pharmaceutical Co., Ltd(“Zhuoda”)   The PRC, a limited liability company   Wholesale distribution of generic drugs in the PRC     100 %                   Chongqing Qianmei Medical Devices Co., Ltd (“Qianmei”)   The PRC, a limited liability company   Wholesale distribution of medical devices in the PRC     100 %
CY2020Q1 bimi Transfer Of Ownership Description
TransferOfOwnershipDescription
On March 18, 2020, the Company, through its wholly owned subsidiary, Xinrongxin, acquired 100% of the equity interests in Chongqing Guanzan Technology Co., Ltd. (“Guanzan”). Guanzan holds an 80% equity interest in Chongqing Shude Pharmaceutical Co., Ltd. (“Shude”, together with Guanzan, the “Guanzan Group”). Guanzan also owns 100% equity interest in Chongqing Lijiantang Pharmaceutical Co. Ltd., (‘Lijiantang”), a subsidiary established in May 2020. Lijiantang operates four retail pharmacy stores in China (collectively, the “Lijiantang Pharmacy Group”). The Lijiantang Pharmacy Group engages in the retail sale of medicine and other healthcare products to customers through its directly-owned stores. The Lijiantang Pharmacy Group offers a wide range of products, including prescription and over-the-counter (“OTC”) drugs, nutritional supplements, traditional Chinese medicines, personal and family care products and medical devices, as well as miscellaneous items. On December 11, 2020, the Company entered into a stock purchase agreement to sell Boqi Zhengji. The sale of the Boqi Zhengji was closed by the end of 2020, although the government record was not updated until February 2, 2021 due to the Chinese government’s alternative working schedule and other delays caused by COVID-19. On December 9, 2020, the Company entered into an agreement to acquire 100% of the equity interests in Chongqing Guoyitang Hospital (“Guoyitang”), the owner and operator of a private general hospital in Chongqing City, a city in Southwest China. The transaction closed on February 2, 2021. On December 15, 2020, the Company entered into a stock purchase agreement to acquire Chaohu Zhongshan Minimally Invasive Hospital (“Zhongshan”), a private hospital in the Southeast region of China. The transaction closed on February 5, 2021. On April 9, 2021, the Company entered into a stock purchase agreement to acquire three private hospitals in the PRC, Wuzhou Qiangsheng Hospital (“Qiangsheng”), Suzhou Eurasia Hospital(“Eurasia”) and Yunnan Yuxi MinKang hospital (“Minkang”). The transaction closed on May 6, 2021. On April 21, 2021, Bimai Hospital Management (Chongqing) Co. Ltd. was incorporated in the PRC by the Company to manage the operations of the Company’s medical services segment (“Bimi”). Bimi together with Guoyitang, Zhongshan, Qiangsheng , Eurasia and Minkang comprise the Company’s medical services group, which operate hospitals. On April 21, 2021, Pusheng Pharmaceutical Co., Ltd. was incorporated in the PRC by the Company to manage its wholesale distribution of generic drugs. On September 10, 2021, the Company entered into a stock purchase agreement to acquire 100% of the equity interests in Chongqing Zhuoda Pharmaceutical Co., LTD (“Zhuoda”). The transaction closed on October 8, 2021. The Company’s wholesale segments are engaged in the distribution of medical devices and pharmaceuticals. On December 20, 2021, the Company entered into a stock purchase agreement to acquire Bengbu Mali OB-GYN Hospital Co., Ltd. (“Mali Hospital”). The closing of the Mali Hospital SPA is expected to take place in September 2022, subject to necessary regulatory approvals. On June 9, 2022, the Company entered into a stock purchase agreement the Chairman of the Board of the Company, Mr. Fnu Oudom, whereby Mr. Oudom agreed to purchase 12,500,000 shares of Common Stock for $5 million, or $0.40 per share (the “Chairman’s Shares”), subject to the approval of the stockholders of the Company. The purchase price per share reflects a 9% discount to the five-day average closing price of the Common Stock on NASDAQ before signing the SPA (the closing price of the Common Stock on Nasdaq on such date was $0.52). On June 9, 2022, Mr. Oudom provided the Company with $5 million as interim financing in consideration for the issuance of a $5 million subordinated promissory note (the “Chairman’s Note”), bearing no interest, which will become due and payable immediately if the sale of the Chairman’s Shares is not approved by the Company’s stockholders. The Company expects to seek stockholder approval of the sale at the upcoming annual meeting of stockholders. If approved and the Chairman’s Shares are issued, all obligations under the Chairman’s Note will have been performed and discharged in full without any payment of interest. The Company has no obligation to file a registration statement with the SEC for the resale of the Chairman’s Shares. As of June 30,2022, the details of the Company’s major subsidiaries are as follows:  Name   Place of incorporation and kind of legal entity   Principal activities and place of operation   Effective interest held   Lasting Wisdom Holdings Limited (“Lasting”)   British Virgin Island, a limited liability company   Investment holding     100 %                   Pukung Limited (“Pukung”)   Hong Kong, a limited liability company   Investment holding     100 %                   Beijing Xinrongxin Industrial Development Co., Ltd. (“Xinrongxin”)   The PRC, a limited liability company   Investment holding     100 %                   Boyi (Liaoning) Technology Co., Ltd (“Liaoning Boyi”)   The PRC, a limited liability company   IT Technology service research and development     100 %                   Dalian Boyi Technology Co., Ltd (“Dalian Boyi”)   The PRC, a limited liability company   IT Technology service research and development     100 %                   Chongqing Guanzan Technology Co., Ltd. (“Guanzan”)   The PRC, a limited liability company   Wholesale distribution of medical devices in the PRC     100 %                   Chongqing Shude Pharmaceutical Co., Ltd.(“Shude”)   The PRC, a limited liability company   Wholesale distribution of generic drugs in the PRC     95 %                   Chongqing Lijiantang Pharmaceutical Co., Ltd.(“Lijiantang”)   The PRC, a limited liability company   Wholesale distribution of generic drugs in the PRC     100 % Bimai Pharmaceutical (Chongqing) Co., Ltd.   The PRC, a limited liability company   Investment holding     100 %                   Chongqing Guoyitang Hospital Co., Ltd.   The PRC, a limited liability company   Hospital in the PRC     100 %                   Chongqing Huzhongtang Healthy Technology Co., Ltd.   The PRC, a limited liability company   Wholesale distribution of generic drugs in the PRC     100 %                   Chaohu Zhongshan Minimally Invasive Hospital Co.,Ltd.   The PRC, a limited liability company   Hospital in the PRC     100 %                   Yunnan Yuxi Minkang Hospital Co., Ltd.   The PRC, a limited liability company   Hospital in the PRC     100 %                   Wuzhou Qiangsheng Hospital Co., Ltd.   The PRC, a limited liability company   Hospital in the PRC     100 %                   Suzhou Eurasia Hospital Co., Ltd.   The PRC, a limited liability company   Hospital in the PRC     100 %                   Bimai Hospital Management (Chongqing) Co. Ltd   The PRC, a limited liability company   Hospital management in the PRC     100 %                   Pusheng Pharmaceutical Co., Ltd   The PRC, a limited liability company   Wholesale distribution of generic drugs in the PRC     100 %                   Chongqing Zhuoda Pharmaceutical Co., Ltd(“Zhuoda”)   The PRC, a limited liability company   Wholesale distribution of generic drugs in the PRC     100 %                   Chongqing Qianmei Medical Devices Co., Ltd (“Qianmei”)   The PRC, a limited liability company   Wholesale distribution of medical devices in the PRC     100 %
CY2021Q3 bimi Equity Interest Rate
EquityInterestRate
1 pure
CY2022Q2 bimi Transfer Of Ownership Description
TransferOfOwnershipDescription
On June 9, 2022, the Company entered into a stock purchase agreement the Chairman of the Board of the Company, Mr. Fnu Oudom, whereby Mr. Oudom agreed to purchase 12,500,000 shares of Common Stock for $5 million, or $0.40 per share (the “Chairman’s Shares”), subject to the approval of the stockholders of the Company. The purchase price per share reflects a 9% discount to the five-day average closing price of the Common Stock on NASDAQ before signing the SPA (the closing price of the Common Stock on Nasdaq on such date was $0.52). On June 9, 2022, Mr. Oudom provided the Company with $5 million as interim financing in consideration for the issuance of a $5 million subordinated promissory note (the “Chairman’s Note”), bearing no interest, which will become due and payable immediately if the sale of the Chairman’s Shares is not approved by the Company’s stockholders.
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
905553 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
828250 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFive
2102982 usd
bimi Total Minimum Lease Payments
TotalMinimumLeasePayments
5856420 usd
bimi Less Amounts Representing Interest
LessAmountsRepresentingInterest
-1128699 usd
us-gaap Other Operating Income
OtherOperatingIncome
6886824 usd
us-gaap Other Operating Income
OtherOperatingIncome
3566365 usd
CY2022Q2 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
54600000 usd
us-gaap Use Of Estimates
UseOfEstimates
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Use of estimates</b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of these condensed consolidated financial statements in conformity with the US GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities on the date of these condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. The Company bases its estimates and judgments on historical experience and on various other assumptions and information that are believed to be reasonable under the circumstances. Estimates and assumptions of future events and their effects cannot be perceived with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. Significant estimates and assumptions made by management include, among others, useful lives and impairment of long-lived assets, collectability of accounts receivable, advances to suppliers’ allowance for doubtful accounts, reserve of inventory, fair value of goodwill and valuation of derivative liabilities. While the Company believes that the estimates and assumptions used in the preparation of these condensed consolidated financial statements are appropriate, actual results could differ from those estimates. Estimates and assumptions are periodically reviewed, and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2021Q4 bimi Allowance For Obsolete Inventories
AllowanceForObsoleteInventories
103178 usd
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
26128171 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3521401 usd
us-gaap Depreciation
Depreciation
125781 usd
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
305478 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
322145 usd
CY2022Q2 bimi Allowance For Obsolete Inventories
AllowanceForObsoleteInventories
98017 usd
CY2021Q2 us-gaap Reinsurance Recoverables Allowance
ReinsuranceRecoverablesAllowance
31006 usd
us-gaap Depreciation
Depreciation
50414 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.50 pure
CY2022Q2 bimi Percentage Of Income Tax Examination Minimum Likelihood Of Tax Benefits Being Realized Upon Settlement
PercentageOfIncomeTaxExaminationMinimumLikelihoodOfTaxBenefitsBeingRealizedUponSettlement
0.13 pure
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 pure
CY2022Q2 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
6.7114 pure
CY2021Q2 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
6.4572 pure
CY2022Q2 bimi Foreign Currency Exchange Rate Translations Annual Average
ForeignCurrencyExchangeRateTranslationsAnnualAverage
6.4835 pure
CY2021Q2 bimi Foreign Currency Exchange Rate Translations Annual Average
ForeignCurrencyExchangeRateTranslationsAnnualAverage
6.4711 pure
CY2020Q4 bimi Business Combination Consideration Transferred
BusinessCombinationConsiderationTransferred
7374000 usd
CY2022Q2 us-gaap Other Minority Interests
OtherMinorityInterests
46295 usd
bimi Non Controlling Equity Interest Percentage
NonControllingEquityInterestPercentage
0.20 pure
bimi Heacquisitionoftheqiangshengeurasiaandminkanghospitals
HEACQUISITIONOFTHEQIANGSHENGEURASIAANDMINKANGHOSPITALS
<p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7. THE ACQUISITION OF THE QIANGSHENG, EURASIA AND MINKANG HOSPITALS</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 9, 2021, the Company and Chongqing Bimai entered into a stock purchase agreement to acquire Qiangsheng, Eurasia and Minkang, three private hospitals in the PRC, having a total of 170 hospital beds. Pursuant to the agreement, the Company agreed to purchase all the issued and outstanding equity interests in Qiangsheng, Eurasia and Minkang in consideration of approximately $25,023,555 (RMB162,000,000) to paid by the issuance of 800,000 shares of Common Stock, the value of which was agreed to be RMB 78 million or $12 million and the payment of RMB 84,000,000 (approximately $13,008,734) in cash. The first payment of RMB 20,000,000 (approximately $3,097,317) was made at the closing on May 6, 2021. The second and third payments of RMB 64,000,000 (approximately $9,911,416) were subject to post-closing adjustments based on the performance of Qiangsheng, Eurasia and Minkang in 2021 and 2022. The sellers had the right to receive the second and third payments in the form of the shares of Common Stock valued at $15.00 per share or in cash. As a result of the performance failure by the three hospitals for the year ended December 31, 2021, the sellers are not eligible to receive any contingent payments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following summarizes the identified assets acquired and liabilities assumed pursuant to the Qiangsheng, Eurasia and Minkang acquisitions as of May 6, 2021:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Items</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Assets</td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-indent: -9pt; padding-left: 0.25in">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">12,341</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 0.25in">Accounts receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,836</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 0.25in">Inventories</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">156,576</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 0.25in">Advances and other receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,620</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -9pt; padding-left: 0.25in">Property, plant and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">653,104</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 0.25in">Right of use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,168,709</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 0.25in">Goodwill</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,067,529</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-indent: -9pt; padding-left: 9pt">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -9pt; padding-left: 0.25in">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(355,980</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 0.25in">Advances from customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36,798</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -9pt; padding-left: 0.25in">Tax payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(345,870</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 0.25in">Other payables and accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(311,174</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -9pt; padding-left: 0.25in">Lease liability-current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(365,788</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 0.25in">Lease liability-non-current</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,988,195</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Total net assets</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">8,736,910</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of all assets acquired, and liabilities assumed is the estimated book value of the Qiangsheng, Eurasia and Minkang hospitals. Goodwill represents the excess of the fair value of purchase price over the amounts assigned to the fair value of the assets acquired and the liabilities assumed of Qiangsheng, Eurasia and Minkang Hospitals at the acquisition date.</p>
CY2022Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
6250094 usd
CY2021Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
7327587 usd
bimi Allowance For Doubtful Accounts
AllowanceForDoubtfulAccounts
305478 usd
CY2021 bimi Allowance For Doubtful Accounts
AllowanceForDoubtfulAccounts
322145 usd
CY2022Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
5944616 usd
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
7005442 usd
CY2022Q2 us-gaap Reinsurance Recoverables Allowance
ReinsuranceRecoverablesAllowance
572 usd
us-gaap Payments To Suppliers
PaymentsToSuppliers
6453083 usd
CY2021 us-gaap Payments To Suppliers
PaymentsToSuppliers
3163836 usd
us-gaap Payments To Suppliers And Employees
PaymentsToSuppliersAndEmployees
6453083 usd
CY2021 us-gaap Payments To Suppliers And Employees
PaymentsToSuppliersAndEmployees
3163836 usd
CY2022Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
2743166 usd
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
2395824 usd
CY2022Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
382636 usd
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
347237 usd
CY2022Q2 bimi Less Impairment Allowance
LessImpairmentAllowance
98017 usd
CY2021Q4 bimi Less Impairment Allowance
LessImpairmentAllowance
103178 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
3027785 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
2639883 usd
bimi Accrued Allowance Of Inventory
AccruedAllowanceOfInventory
98017 usd
bimi Accrued Allowance Of Inventory
AccruedAllowanceOfInventory
103178 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7028796 usd
CY2022Q2 bimi Rental Security Deposits
RentalSecurityDeposits
59570 usd
CY2021Q4 bimi Rental Security Deposits
RentalSecurityDeposits
63021 usd
CY2022Q2 bimi Deposit For Property Rights Trading
DepositForPropertyRightsTrading
14900 usd
CY2022Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
58238 usd
CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
293933 usd
CY2022Q2 bimi Deposit For Purchase Of Medical Devices
DepositForPurchaseOfMedicalDevices
11920 usd
CY2022Q2 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
794072 usd
CY2021Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
1227778 usd
CY2022Q2 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
1917339 usd
CY2021Q4 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
766197 usd
CY2022Q2 us-gaap Other Receivables
OtherReceivables
558837 usd
CY2021Q4 us-gaap Other Receivables
OtherReceivables
605234 usd
CY2022Q2 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
24776 usd
CY2021Q4 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
26080 usd
CY2022Q2 us-gaap Premiums And Other Receivables Net
PremiumsAndOtherReceivablesNet
3390100 usd
CY2021Q4 us-gaap Premiums And Other Receivables Net
PremiumsAndOtherReceivablesNet
2930083 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7442043 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3916350 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3920642 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3112446 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
20420 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
21495 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3627 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3456 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
16793 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
18039 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1182 usd
CY2022Q2 bimi Operating Lease
OperatingLease
4336481 usd
CY2021Q4 bimi Operating Lease
OperatingLease
4845509 usd
CY2022Q2 bimi Operating Lease Right Of Use Asset Total
OperatingLeaseRightOfUseAssetTotal
4336481 usd
CY2021Q4 bimi Operating Lease Right Of Use Asset Total
OperatingLeaseRightOfUseAssetTotal
4845509 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
887630 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
954182 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3840091 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4161789 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4727721 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
5115971 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1041821 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
977814 usd
CY2022Q2 bimi Operating Lease Total
OperatingLeaseTotal
4727721 usd
CY2021Q4 us-gaap Goodwill
Goodwill
8376217 usd
CY2020Q4 us-gaap Goodwill
Goodwill
6914232 usd
CY2021 bimi Addition During The Year
AdditionDuringTheYear
27590156 usd
CY2021 us-gaap Goodwill Impairment Loss Net Of Tax
GoodwillImpairmentLossNetOfTax
26128171 usd
CY2022Q2 us-gaap Goodwill
Goodwill
8376217 usd
CY2021Q4 us-gaap Goodwill
Goodwill
8376217 usd
CY2022Q2 us-gaap Goodwill Gross
GoodwillGross
8376217 usd
CY2021Q4 us-gaap Goodwill Gross
GoodwillGross
8376217 usd
CY2022Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
1656643 usd
CY2021Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
1799394 usd
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
79039 usd
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
16538 usd
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
907193 usd
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22859264 shares
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
369187 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
538006 usd
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
43500 usd
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
30676 usd
CY2021Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.108 pure
CY2022Q2 us-gaap Other Long Term Debt
OtherLongTermDebt
142792 usd
CY2022Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.1458 pure
CY2022Q2 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
12.95
CY2022Q2 bimi Shares Of Common Stock
SharesOfCommonStock
130000 shares
CY2022Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
14.23
CY2021Q1 us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
5400000 usd
CY2021Q1 bimi Shares Of Common Stock
SharesOfCommonStock
152000 shares
CY2021Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
14.23
CY2021Q4 us-gaap Debt Instrument Description
DebtInstrumentDescription
the “November SPA”) with the same two Institutional Investors to sell them a series of senior convertible notes (the “2021 Notes”) with an original issue discount of 20% and ranking senior to all outstanding and future indebtedness of the Company in a private placement. Each Institutional Investor paid $3,250,000 in cash for a 2021 Note in the face amount of $3,900,000. The November SPA also provided for the issuance of additional 2021 Notes in an aggregate original principal amount not to exceed $3,900,000 under certain circumstances. The November SPA also contains provisions about the Market Event Price. The 2021 Notes, which were issued on November 22, 2021, mature on the eighteen-month anniversary of the issuance date, are payable by the Company in installments and are convertible at the election of the Institutional Investors at the conversion price of $3.25 (post-Split Price and subject to the Event Market Price Adjustment), which is subject to adjustment in the event of default. Each Institutional Investor also received a warrant (the “Institutional Investor 2021 Warrant”) to purchase 180,000 shares of Common Stock at an initial exercise price of $3.55 per share (subject to the Event Market Price Adjustment). The placement agent for the private placement received a warrant (the “Placement Agent 2021 Warrant”, together with the Institutional Investor 2021 Warrant, the “2021 Warrants”) to purchase up to 8% of the aggregate number of shares of Common Stock at an initial exercise price of $3.55 per share (post-Split Price and subject to the Event Market Price Adjustment), subject to increase based on the number of shares Common Stock issued pursuant to the 2021 Notes.
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.71 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.71 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0087 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0087 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P0Y5M1D
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P1Y5M1D
CY2022Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
On February 2, 2022, we completed a five (5) for one (1) reverse stock split (the “Reverse Split”) of our issued and outstanding ordinary shares, par value $0.001 per share.
CY2022Q2 bimi Other Unallocated Assets Dalian Boyi
OtherUnallocatedAssetsDalianBoyi
4372 usd
CY2022Q2 bimi Social Security Payable
SocialSecurityPayable
982178 usd
CY2021Q4 bimi Social Security Payable
SocialSecurityPayable
947911 usd
CY2022Q2 bimi Accrued Operating Expenses Current
AccruedOperatingExpensesCurrent
-900 usd
CY2021Q4 bimi Accrued Operating Expenses Current
AccruedOperatingExpensesCurrent
175215 usd
CY2022Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1069302 usd
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
953959 usd
CY2022Q2 bimi Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
3266413 usd
CY2021Q4 bimi Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
3082917 usd
CY2019Q4 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
500000 usd
CY2021Q4 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
1000000 usd
CY2021Q4 us-gaap Shares Issued
SharesIssued
1000000 shares
CY2022Q1 pf0 Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesTenPercentAnnualDiscountForEstimatedTimingOfCashFlows
250000 usd
CY2022Q1 bimi Prepayment Of Common Stock
PrepaymentOfCommonStock
500000 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
500000 shares
CY2022Q2 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
1000000 usd
CY2022Q2 us-gaap Shares Issued
SharesIssued
1000000 shares
CY2022Q2 us-gaap Due To Employees Current And Noncurrent
DueToEmployeesCurrentAndNoncurrent
300000 usd
CY2022Q2 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
327566 usd
CY2021Q4 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
622554 usd
CY2022Q2 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
503037 usd
CY2021Q4 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
730285 usd
us-gaap Debt Conversion Description
DebtConversionDescription
From April 6, 2020 through October 20, 2020, Power Up Lending Group Ltd., Crown Bridge Partners, LLC, Labrys Fund, LP, Morningview Financial, LLC, TFK Investments LLC, BHP Capital NY Inc., Firstfire Global Opportunities Fund, LLC and Platinum Point Capital LLC converted $1,534,250 of convertible notes plus interest into an aggregate of 331,643 shares of Common Stock. 
CY2021Q1 us-gaap Debt Conversion Description
DebtConversionDescription
On February 3, 2021, a holder of a convertible note issued on December 16, 2019, converted a part of the note in the aggregate principal amount of $ 74,473 plus interest into 20,706 shares of Common Stock. 
CY2022Q2 bimi Other Unallocated Assets Liaoning Boyi
OtherUnallocatedAssetsLiaoningBoyi
31811 usd
CY2022Q2 bimi Other Unallocated Assets Chongqing Bimai
OtherUnallocatedAssetsChongqingBimai
2282943 usd
CY2022Q2 bimi Other Unallocated Assets Bimi
OtherUnallocatedAssetsBIMI
1167209 usd
CY2022Q2 bimi Total Consolidated Assets
TotalConsolidatedAssets
40216585 usd
bimi Total Revenues From Reportable Segments
TotalRevenuesFromReportableSegments
14121913 usd
bimi Other Revenues
OtherRevenues
38663 usd
bimi Elimination Of Intersegments Revenues
EliminationOfIntersegmentsRevenues
2735585 usd
bimi Total Consolidated Revenues
TotalConsolidatedRevenues
11424991 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6886824 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3566365 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12525879 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4171832 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.55
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.85
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 pure
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
9947109 usd
bimi Cost Of Revenues
CostOfRevenues
7263179 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
99483 usd
bimi Profitloss
Profitloss
-6886824 usd
bimi Total Asset
TotalAsset
40216585 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
11424991 usd
bimi Cost Of Revenues
CostOfRevenues
8867894 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
76415 usd
bimi Profitloss
Profitloss
-3566365 usd
bimi Total Asset
TotalAsset
62612425 usd
bimi Total Revenues From Reportable Segments
TotalRevenuesFromReportableSegments
10653288 usd
bimi Elimination Of Intersegments Revenues
EliminationOfIntersegmentsRevenues
-706179 usd
bimi Total Consolidated Revenues
TotalConsolidatedRevenues
9947109 usd
bimi Total Loss From Reportable Segments
TotalLossFromReportableSegments
-469726 usd
bimi Elimination Of Intersegments Profit Or Loss
EliminationOfIntersegmentsProfitOrLoss
-321432 usd
bimi Amortization Of Discount Of Notes And Convertible Notes
AmortizationOfDiscountOfNotesAndConvertibleNotes
-771124 usd
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
5324542 usd
bimi Total Net Loss
TotalNetLoss
-6886824 usd
CY2022Q2 bimi Total Assets From Reportable Segments
TotalAssetsFromReportableSegments
51061777 usd
CY2022Q2 bimi Elimination Of Intersegments Receivables
EliminationOfIntersegmentsReceivables
-14335851 usd
CY2022Q2 bimi Other Unallocated Assets Xinrongxin
OtherUnallocatedAssetsXinrongxin
4324 usd
bimi Total Loss From Reportable Segments
TotalLossFromReportableSegments
13445 usd
bimi Elimination Of Intersegments Profit Or Loss
EliminationOfIntersegmentsProfitOrLoss
2325 usd
bimi Amortization Of Discount Of Notes And Convertible Notes
AmortizationOfDiscountOfNotesAndConvertibleNotes
-1386586 usd
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
2190899 usd
bimi Total Net Loss
TotalNetLoss
-3566365 usd
CY2021Q2 bimi Total Assets From Reportable Segments
TotalAssetsFromReportableSegments
32546382 usd
CY2021Q2 bimi Elimination Of Intersegments Receivables
EliminationOfIntersegmentsReceivables
-8999782 usd
CY2021Q2 bimi Other Unallocated Assets Xinrongxin
OtherUnallocatedAssetsXinrongxin
3102087 usd
CY2021Q2 bimi Other Unallocated Assets Liaoning Boyi
OtherUnallocatedAssetsLiaoningBoyi
185382 usd
CY2021Q2 bimi Other Unallocated Assets Dalian Boyi
OtherUnallocatedAssetsDalianBoyi
20173 usd
CY2021Q2 bimi Other Unallocated Assets Chongqing Bimai
OtherUnallocatedAssetsChongqingBimai
2932238 usd
CY2021Q2 bimi Other Unallocated Assets Bimi
OtherUnallocatedAssetsBIMI
32825945 usd
CY2021Q2 bimi Total Consolidated Assets
TotalConsolidatedAssets
62612425 usd
bimi Schedule Of Revenues From Each Types Of Products Table Txet Block
ScheduleOfRevenuesFromEachTypesOfProductsTableTxetBlock
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended<br/> June 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Medical devices wholesale</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,828,557</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">916,193</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Medical services</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,950,198</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,732,974</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pharmaceutical wholesale</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,663,350</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,495,931</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pharmacy retail</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">505,004</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">241,230</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,947,109</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,386,328</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
bimi Total Revenue
TotalRevenue
9947109 usd
bimi Total Revenue
TotalRevenue
11386328 usd
CY2022Q3 bimi Annual Rent Increase Percentage
AnnualRentIncreasePercentage
0.025 pure
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
14157436 usd
CY2021Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
usd
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12525879 shares
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
us-gaap Inventory Write Down
InventoryWriteDown
usd
us-gaap Share Based Compensation
ShareBasedCompensation
usd
us-gaap Environmental Remediation Expense
EnvironmentalRemediationExpense
usd
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
usd
bimi Deposit For The Acquisition Of Cogmer
DepositForTheAcquisitionOfCogmer
usd
bimi Purchase Of Property Plant Equipments
PurchaseOfPropertyPlantEquipments
usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
usd
bimi Issuance Of Common Share For Equity
IssuanceOfCommonShareForEquity
usd
bimi Common Stock To Be Issued Upon Conversion Of Convertible Promissory Notes
CommonStockToBeIssuedUponConversionOfConvertiblePromissoryNotes
usd
bimi Issuance Of Shares Of Common Stock For Payment Of Improvements To Offices
IssuanceOfSharesOfCommonStockForPaymentOfImprovementsToOffices
usd
bimi Issuance Of Common Shares Upon Cashless Exercises Of Warrants
IssuanceOfCommonSharesUponCashlessExercisesOfWarrants
usd
bimi Intangible Assets Recognized From Equity Acquisition Of Pharmacy Group
IntangibleAssetsRecognizedFromEquityAcquisitionOfPharmacyGroup
usd
bimi Goodwill Recognized From Equity Acquisition Of Guanzan Group
GoodwillRecognizedFromEquityAcquisitionOfGuanzanGroup
usd
bimi Goodwill Recognized From Equity Acquisition Of Minkang Qiangsheng And Eurasia Hospital
GoodwillRecognizedFromEquityAcquisitionOfMinkangQiangshengAndEurasiaHospital
usd
bimi Outstanding Payment For Equity Acquisition Of Guanzan Group
OutstandingPaymentForEquityAcquisitionOfGuanzanGroup
usd
bimi Outstanding Payment For Equity Acquisition
OutstandingPaymentForEquityAcquisition
usd
bimi Outstanding Payment For Equity Acquisition Of Zhuoda
OutstandingPaymentForEquityAcquisitionOfZhuoda
usd
bimi Outstanding Payment For Equity Acquisition Of Minkang Qiangsheng And Eurasia Hospitals
OutstandingPaymentForEquityAcquisitionOfMinkangQiangshengAndEurasiaHospitals
usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
usd
bimi Allowance For Doubtful Accounts Supplier
AllowanceForDoubtfulAccountsSupplier
usd
CY2021 bimi Allowance For Doubtful Accounts Supplier
AllowanceForDoubtfulAccountsSupplier
usd
CY2022Q2 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
usd
CY2021Q2 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
usd
bimi Addition During The Year
AdditionDuringTheYear
usd
us-gaap Goodwill Impairment Loss Net Of Tax
GoodwillImpairmentLossNetOfTax
usd
CY2022Q2 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
usd
CY2021Q4 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
usd
CY2022Q2 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
usd
CY2021Q2 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
usd
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12525879 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4171832 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.85
bimi Other Revenues
OtherRevenues
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001213660

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