Strategic Shift in Globalization: Hua Da Intelligence Divests US Subsidiary CGI

Hua Da Intelligence announced the sale of CGI for approximately $50 million in revenue, a move expected to bring significant direct profits and cash flow improvement. Amidst acquiring two companies and making a notable purchase of $366 million, Hua Da Intelligence swiftly disclosed a transaction involving the sale of its overseas subsidiary post the Lunar New Year holidays. On February 24, the company revealed its decision to sell 100% equity of its US-based wholly-owned subsidiary, Complete Genomics (CGI), for $50 million to Swiss Rockets, a biotechnology firm based in Switzerland. In tandem with this deal, the two parties broadened their…