Tibet Zhongweikang Investment Management Co., Ltd. cancelled the acquisition of Beijing Zhongwei Xinkang Gene Biotechnology Co., Ltd. from Tibet Weixinkang Medicine Co., Ltd..
March 15, 2019
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Tibet Zhongweikang Investment Management Co., Ltd. entered into an agreement to acquire Beijing Zhongwei Xinkang Gene Biotechnology Co., Ltd. from Tibet Weixinkang Medicine Co., Ltd. (SHSE:603676) for CNY 35.3 million on March 15, 2018. For the year ended December 31, 2017, Beijing Zhongwei Xinkang Gene Biotechnology Co., Ltd. reported total assets of CNY 18.6 million, net assets of CNY 18.6 million, revenue of CNY 0, and net loss of CNY 1.1 million. The transaction is subject to the shareholders’ approval of Tibet Weixinkang Medicine Co., Ltd. The transaction has been approved in the 16th meeting of the 1st Directorate of Tibet Weixinkang Medicine Co., Ltd. on March 15, 2018.
Tibet Zhongweikang Investment Management Co., Ltd. cancelled the acquisition of Beijing Zhongwei Xinkang Gene Biotechnology Co., Ltd. from Tibet Weixinkang Medicine Co., Ltd. (SHSE:603676) on March 15, 2019.
Tibet Weixinkang Medicine Co., Ltd. is a China-based company principally engaged in the research and development, production and sales of chemical medicines and related active pharmaceutical ingredients (APIs). The Company's main products include injection of complex vitamins, injection of potassium aspartate magnesium, sucrose iron injection and potassium aspartate injection. The Company is also engaged in the production and sales of liver protection drugs and antibiotics products. The Company mainly distributes its products in the domestic market.
Tibet Zhongweikang Investment Management Co., Ltd. cancelled the acquisition of Beijing Zhongwei Xinkang Gene Biotechnology Co., Ltd. from Tibet Weixinkang Medicine Co., Ltd..