Ant Financial’s New Partner for Blockchain Medical Applications Accused of Inadequate Disclosures


Shanghai-listed Thalys Medical Technology (塞力斯医疗科技股份有限公司) has been accused by the exchange of failing to make adequate information disclosures just after revealing the launch of a cooperative agreement with Ant Financial’s blockchain arm.

Thalys recently announced that on 26 May it entered an agreement with Ant Blockchain Technology (Shanghai) Co., Ltd. (蚂蚁区块链科技(上海)有限公司), to cooperate on the application of blockchain technology to the medical and healthcare sectors.

Thalys is a medical supplies company that is listed on the Shanghai Stock Exchange, and in 2018 posted operating revenues of 1.317 billion yuan for YoY growth of 43.12%, as well as net profits of 94.1591 millino yuan, for a YoY rise of 0.33%.

Ant Blockchain Technology has registered capital of 100 million yuan, and its business scope includes software development, big data services, computer software and hardware sales and the development of internet technology.

According to domestic media reports, on the evening of 27 May just a day after the announcement of the cooperative agreement with Ant Blockchain, the Shanghai Stock Exchange sent a regulatory notice to Thalys indicating that the company had not performed information disclosures in strict accordance with the “Share Listing Regulations” or requirements in relation to provisional public announcement formats.

The SSE also said that Thalys had failed to fully disclose related risk, which could create misunderstanding for the market and investors.

While primarily a medical supplies company, Thalys has recently seen robust price gains following efforts to expand in a slew of other areas including big data, blockchain technology and medical marijuana.

On 8 April Thalys announced that it had entered a strategic cooperative agreement with Israel’s iCAN to search for investment opportunities in the field of medical-grade cannabis.