Jiangsu Lianhuan Pharmaceutical Co., Ltd. agreed to acquire an additional 6.5% stake in Yangzhou Lianhuan Pharmaceutical Marketing Co., Ltd. from Qian Wangni, Yu Tongfu, Cheng Qi and Fu Shunyou for CNY 0.36 million.
March 24, 2017
Share
Jiangsu Lianhuan Pharmaceutical Co., Ltd. (SHSE:600513) agreed to acquire an additional 6.5% stake in Yangzhou Lianhuan Pharmaceutical Marketing Co., Ltd. from Qian Wangni, Yu Tongfu, Cheng Qi and Fu Shunyou for CNY 0.36 million on March 24, 2017. Under the terms of transaction, Yangzhou Lianhuan Pharmaceutical Marketing Co., Ltd. will acquire 2% stake from Qian Wangni for CNY 0.11 million, 1.5% stake from Yu Tongfu for CNY 0.08 million, 1.5% stake from Cheng Qi for CNY 0.08 million and 1.5% stake from Fu Shunyou for CNY 0.08 million. For the year ended December 31, 2016, Yangzhou Lianhuan Pharmaceutical Marketing Co., Ltd. reported revenue of CNY 109.7 million, total assets of CNY 55.7 million, operating loss of CNY 0.34 million, net loss of CNY 0.31 and total common equity of CNY 2.86 million. The transaction is not subject to approval by shareholders of Jiangsu Lianhuan Pharmaceutical Co., Ltd. approval. The transaction has been approved by Board of Jiangsu Lianhuan Pharmaceutical Co., Ltd.
Jiangsu Lianhuan Pharmaceutical Co., Ltd. is a China-based company, principally engaged in the research and development, production and sales of chemical medicines. The Company's products are mainly applied as urinary system medicines, antihistamines and cardiovascular medicines. The Company's products include Epristeride Tablets, Ebastine Tablets, Felodipine Tablets, Felodipine Sustained Release Capsules, Simvastatin Tablets, Lumbrokinase Capsulesand and Balofloxacin Tablets. The Company distributes its products within domestic market and to overseas markets.
Jiangsu Lianhuan Pharmaceutical Co., Ltd. agreed to acquire an additional 6.5% stake in Yangzhou Lianhuan Pharmaceutical Marketing Co., Ltd. from Qian Wangni, Yu Tongfu, Cheng Qi and Fu Shunyou for CNY 0.36 million.