Sinopharm Holding Meizhou Co., Ltd announced a private placement of shares for gross proceeds of CNY 30,000,000 with existing investor China National Accord Medicines Corporation Ltd. (SZSE:000028) on April 19, 2017. Post the closing the registered capital of the company will increase from CNY 18,000,000 to CNY 48,000,000 and the investor will retain its 100% stake in the company. The transaction has been approved at the 7th directorate in 22nd meeting of the investor and is not subject to shareholders’ approval of the investor. The company reported total assets of CNY 152,840,000, net assets of CNY 24,760,000, and revenue of CNY 376,580,000 for the year ended December 31, 2016.