Tonghua Golden-Horse Pharmaceutical Industry Co, cancelled the acquisition of Jixi Jikuang Hospital Co., Ltd. and Shuangyashan Shuangkuang Hospital Co., Ltd. from Suzhou Industrial Park Dexin Yili Investment Center (Limited Partnership) and others.
November 07, 2020
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Tonghua Golden-Horse Pharmaceutical Industry Co,Ltd (SZSE:000766) agreed to acquire 85% stake in Jixi Jikuang Hospital Co., Ltd. and Shuangyashan Shuangkuang Hospital Co., Ltd. from Suzhou Industrial Park Dexin Yili Investment Center (Limited Partnership) and others for CNY 1.5 billion on November 4, 2019. On November 7, 2019, Tonghua Golden-Horse Pharmaceutical Industry Co,entered into an agreement to acquire 85% stake in Jixi Jikuang Hospital Co., Ltd. and Shuangyashan Shuangkuang Hospital Co., Ltd. from Suzhou Industrial Park Dexin Yili Investment Center (Limited Partnership) and others. Tonghua Golden-Horse Pharmaceutical Industry Co,Ltd will acquire 73.48% stake in Jixi Jikuang Hospital Co., Ltd. and Shuangyashan Shuangkuang Hospital Co., Ltd. each from Suzhou Industrial Park Dexin Yili Investment Center (Limited Partnership) for CNY 1.3 billion and 11.52% stake in Jixi Jikuang Hospital Co., Ltd. and Shuangyashan Shuangkuang Hospital Co., Ltd. each from others for CNY 207.4 million. For the period ended December 31, 2018, Jixi Jikuang Hospital Co., Ltd. and Shuangyashan Shuangkuang Hospital Co., Ltd. has reported total assets of CNY 905.99 million and CNY 611.26 million, total liabilities of CNY 251.09 million and CNY 257.39 million, net assets of CNY 654.91 million and CNY 353.87 million, revenues of CNY 625.76 million and CNY 552.11 million, operating profit of CNY 81.17 million and CNY 73.91 million respectively and net profit for Jixi Jikuang Hospital Co., Ltd CNY 63.42 million.
The transaction has been approved by the partners of Suzhou Industrial Park Dexin Yili Investment Center (Limited Partnership) and other seller on November 4, 2019. The Board of Directors of Tonghua Golden-Horse Pharmaceutical Industry Co,Ltd has approved the transaction on November 7, 2019. Transaction is subject to approval from shareholders of Tonghua Golden-Horse Pharmaceutical Industry Co,Ltd, other necessary approvals and after the completion of the target assets’ audit and assessment reports, Board of Directors of Tonghua Golden-Horse Pharmaceutical Industry Co,Ltd's approval.
Tonghua Golden-Horse Pharmaceutical Industry Co, cancelled the acquisition of Jixi Jikuang Hospital Co., Ltd. and Shuangyashan Shuangkuang Hospital Co., Ltd. from Suzhou Industrial Park Dexin Yili Investment Center (Limited Partnership) and others on November 7, 2020.
TONGHUA GOLDEN-HORSE PHARMACEUTICAL INDUSTRY CO,LTD is a China-based company principally engaged in the manufacture and distribution of pharmaceutical products. The Company's main products consist of Chinese patent drugs, chemical drugs and bulk drugs, among others. The Companyâs products are used in anti-tumor, microbial, digestive system, skeletal and muscle system, gynecology, nervous system and other areas. The Company distributes its products mainly in domestic market.
Tonghua Golden-Horse Pharmaceutical Industry Co, cancelled the acquisition of Jixi Jikuang Hospital Co., Ltd. and Shuangyashan Shuangkuang Hospital Co., Ltd. from Suzhou Industrial Park Dexin Yili Investment Center (Limited Partnership) and others.
TONGHUA GOLDEN-HORSE PHARMACEUTICAL INDUSTRY CO,LTD 
