Huapont Life Sciences Co., Ltd. agreed to acquire a 9.93% stake in Shenzhen Pregene Biopharma Co., Ltd. from Zhang Yizhuo for approximately CNY 130 million.
September 22, 2020
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Huapont Life Sciences Co., Ltd. (SZSE:002004) agreed to acquire a 9.93% stake in Shenzhen Pregene Biopharma Co., Ltd. from Zhang Yizhuo for approximately CNY 130 million on September 21, 2020. Post the completion of the transaction, Zhang Yizhuo will not own any stake while Huapont Life will own a total of 12.91% stake in Shenzhen Pregene. As of December 31, 2019, Shenzhen Pregene reported total assets worth CNY 32.44 million, net assets worth CNY 15.57 million, revenues worth CNY 1 million, operating loss of 31.57 million and net loss of 31.5 million. The transaction has been approved in the 18th meeting of Huapont Life’s 7th Directorate.
HUAPONT LIFE SCIENCES CO., LTD. is a China-based company principally engaged in the research and development, manufacture and sales of pesticide chemical products. The Company operates through three segments. The Pharmaceutical segment is engaged in the research, development, manufacture and sales of skin pharmaceuticals, antituberculous pharmaceuticals and other manufactured products. Its products include fleroxacin and ambroxol hydrochloride for injection, and lecithin-bound iodine capsules, among others. The Pesticide Chemical segment is engaged in the production and sales of pesticides and other fine chemicals, including herbicides, bactericides and insecticides, among others. The Bulk Drug segment is engaged in the research and development and manufacture of bulk drugs and medical intermediates. The Company is also engaged in the provision of travel services, the sales of tea and the provision of technical services, among others.
Huapont Life Sciences Co., Ltd. agreed to acquire a 9.93% stake in Shenzhen Pregene Biopharma Co., Ltd. from Zhang Yizhuo for approximately CNY 130 million.
HUAPONT LIFE SCIENCES CO.,LTD 
