Sinopharm Group Zhongshan Co., Ltd announced a private placement of shares for gross proceeds of CNY 20,000,000 with existing investor China National Accord Medicines Corporation Ltd. (SZSE:000028) on April 19, 2017. Post the closing of the transaction, the registered capital of the company will increase from CNY 10,000,000 to CNY 30,000,000 and the company will continue to be wholly owned by the investor. The transaction has been approved at 7th directorate in 22nd meeting of the investor. The transaction is not subject to shareholders’ approval of the investor. The company reported total assets of CNY 107,260,000, net assets of CNY 13,670,000, and revenue of CNY 330,500,000 for the year ended December 31, 2016.