Newsletter summary

The H adopted by Yao Ming Kant in response to the U.S. House Oversight and Accountability Committee.Megamill.R.8333 draft statement issuedMegamillEmphasizing that the company does not pose a risk to national security, has no human genomics business, and has never been sanctioned by the US government. The H.R.8333 draft removes improper allegations against Yao Ming Kant and may introduce a "grandfather" clause that has an impact on market investors.

Text of news flash

[Yao Ming Kant issued a clarification announcement, following the progress of the US draft legislation] Yao Ming Kant recently issued an announcement clarifying the draft legislation H.R.8333 passed by the US House Oversight and Accountability Committee. On May 15th the committee voted to approve the H.R.8333 draft, a revised version of the previous H.R.7085 draft Biosafety Law, which removes allegations against Yao Ming Kant and adds a non-retroactive clause. Yao Ming Kant strongly opposes the practice of keeping it in the definition of "biotechnology company of concern" in the H.R.8333 draft, arguing that the definition is not due process and unreasonable. The company said its business had never posed a national security risk and had not been sanctioned by US government agencies. In addition, Yao Ming Kant reiterated that the company is not involved in the human genomics business, and the existing business does not involve the collection of human genome data. Prior to this, Yao Ming Kant has repeatedly clarified the relevant matters mentioned in the draft legislation of the United States. With regard to the future development of the draft H.R.8333, Yao Ming Kant said that it would continue to work with consultants and communicate with interested parties, and that the contents of the draft and draft S.3558 still need further consideration and possible changes. As of May 16, the A share price of Yao Ming Kant was 45.22 yuan per share, while the Hong Kong stock price was 41.3 Hong Kong dollars per share. Investors need to pay attention to the potential impact of the progress of the draft legislation on the company's share price.