GlobeNewswire Inc | Jun 16, 2021 08:00AM EDT

June 16, 2021

NEW YORK, June 16, 2021 (GLOBE NEWSWIRE) -- BOQI International Medical Inc. (NASDAQ: BIMI) (BIMI or the Company), a leading healthcare products and services provider in China, today announced the results of the Companys 2021 Annual General Meeting of Stockholders (the Annual Meeting) held on June 15, 2021 at 9:00 a.m. (Beijing Time), at Yuzhou Hotel, 168 Yuzhou Road, Yuzhong District, Chongqing, China.

At the Annual Meeting, BOQI International Medical Inc.:

1.Elected the seven nominees named in the accompanying proxy statement to serve as directors of the Company until the next annual meeting of stockholders and until their respective successors have been duly elected and qualified;

2. Approved an amendment to the Companys Certificate of Incorporation to change the name of the Company to BIMI International Medical Inc.;

3.Approved, in accordance with Nasdaq Marketplace Rule5635, the issuance of shares of the Companys common stock upon the (i)conversion of $3.3million of newly issued senior secured convertible notes sold to two institutional investors (the Institutional Investors) on February28, 2021; (ii)exercise of warrants to purchase of up to 760,000shares of the Companys common stock issued to the Institutional Investors; and (iii)exercise of warrants to initially purchase 173,745shares of the Companys common stock, subject to increase, issuedto the placement agent for the private placement of the senior secured convertible notes and warrants to the Institutional Investors;

4.Approved, in accordance with Nasdaq Marketplace Rule5635, the issuance of 4,600,000shares of the Companys common stock to the seller of Chongqing Guanzan Technology Co., Ltd (or her designated assignee(s)), as payment of the balance of the post-closingconsideration;

5.Approved, on an advisory basis, the compensation of the Companys executive officers named in the accompanying proxy statement;

6.Ratified the appointment of Audit Alliance LLP as the Companys independent registered public accounting firm for the year ending December31, 2021.

About BOQI International Medical Inc.

BOQI International Medical Inc. was founded in 2006. The Company is now exclusively a healthcare products and provider, offering a broad range of healthcare products and related services and operates two private hospitals in China. For more information, please visit www.usbimi.com.

Safe Harbor Statement

Certain matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties including, but not limited to, the Companys ability to achieve profitable operations, its ability to continue to operate as a going concern, its ability to continue to meet NASDAQ continued listing requirements, the effects of the spread of COVID-19, the demand for the Companys products and services in the Peoples Republic of China, general economic conditions and other risk factors detailed in the Companys annual report and other filings with the United States Securities and Exchange Commission.

Investor Relations Contact:

Janice Wang

EverGreen Consulting Inc.

Email: IR@changqingconsulting.com

Phone: +1 571-464-9470 (from U.S.)

+86 13811768559 (from China)