Xu Meiyun completed the acquisition of 5.99% stake in Zhejiang Shouxiangu Pharmaceutical Co., Ltd. from Zhejiang Shouxiangu Investment Management Co., Ltd.
October 13, 2020
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Xu Meiyun signed an agreement to acquire 5.99% stake in Zhejiang Shouxiangu Pharmaceutical Co., Ltd. (SHSE:603896) from Zhejiang Shouxiangu Investment Management Co., Ltd. for approximately CNY 290 million on July 24, 2020. As part of the acquisition, Xu Meiyun will acquire 8.6 million shares in Zhejiang Shouxiangu Pharmaceutical. Within 10 working days from the date of signing the agreement, Xu Meiyun will pay 3% of the total consideration to Zhejiang Shouxiangu Investment Management, which is CNY 8.7 million. After Zhejiang Shouxiangu Pharmaceutical’s shares are registered in Shanghai Branch of China Securities Depository and Clearing Co., Ltd., Xu Meiyun will pay the remaining amount to Zhejiang Shouxiangu Investment Management.
Xu Meiyun completed the acquisition of 5.99% stake in Zhejiang Shouxiangu Pharmaceutical Co., Ltd. (SHSE:603896) from Zhejiang Shouxiangu Investment Management Co., Ltd. on October 13, 2020. Post completion, Zhejiang Shouxiangu Investment Management Co., Ltd. will hold 32.39% stake Li Zhenhao will hold 8.06% stake Li Zhenyu will hold 2.74% stake and Xu Meiyun will hold 5.99% stake
Zhejiang Shouxiangu Pharmaceutical Co Ltd is a China-based company principally engaged in the breeding, cultivation, processing and sales of traditional Chinese medicinal materials, such as the ganoderma lucidums and dendrobium officinales. The Company's main products include ganoderma lucidum spore powder, Tiepi Fengdou granule, ganoderma extract products and fresh dendrobium officinales, among others. The Company mainly operates its businesses in domestic markets through wholesaling and direct sales.
ZHEJIANG SHOUXIANGU PHARMACEUTICAL CO., LTD. 
