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CHINA TRADITIONAL CHINESE MEDICINE HOLDINGS CO. LIMITED

(570)
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China Traditional Chinese Medicine : ANNOUNCEMENT MONTHLY UPDATE ON THE POSSIBLE PRIVATISATION PURSUANT TO RULE 3.7 OF THE TAKEOVERS CODE

04/08/2021 | 12:28am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

CHINA TRADITIONAL CHINESE MEDICINE HOLDINGS CO. LIMITED

中國中藥 控股 有 限公 司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 570)

ANNOUNCEMENT

MONTHLY UPDATE ON THE POSSIBLE PRIVATISATION

PURSUANT TO RULE 3.7 OF THE TAKEOVERS CODE

This announcement is made by China Traditional Chinese Medicine Holdings Co. Limited (the "Company") pursuant to Rule 3.7 of the Takeovers Code.

Reference is made to the announcements of the Company dated 29 January 2021 and 1 March 2021 (the "Announcements") in relation to, among other things, the Possible Privatisation. Unless the context requires otherwise, capitalised terms used herein have the same meanings as those defined in the Announcements.

The Board wishes to update the shareholders of the Company that as at the date hereof, no definitive proposal in relation to the Possible Privatisation from Sinopharm Hongkong has been received by the Company. The Company was further informed by Sinopharm Hongkong that no agreement or other commitment has been entered into by Sinopharm Hongkong as to whether to proceed with the Possible Privatisation, details and terms of the Possible Privatisation (including the possible offer price and timetable) have yet to be finalised, and there is no certainty that the Possible Privatisation will proceed.

Further announcement(s) setting out the progress of the Possible Privatisation will be made as and when necessary in accordance with the Listing Rules and the Takeovers Code, and on a monthly basis pursuant to Rule 3.7 of the Takeovers Code until an announcement of a firm intention to make an offer or of a decision not to proceed with an offer in relation to the Possible Privatisation is made in compliance with the Takeovers Code.

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Shareholders and potential investors should be aware that there is no assurance that the Possible Privatisation will proceed. Shareholders and potential investors are therefore advised to exercise caution when dealing in the Shares and/or other securities of the Company, and if they are in any doubt about their position, they should consult their professional adviser(s).

By order of the Board

China Traditional Chinese Medicine Holdings Co. Limited

WU Xian

Chairman

Hong Kong, 8 April 2021

As at the date of this announcement, the board of directors of the Company comprises twelve directors, of which Mr. WU Xian, Mr. WANG Xiaochun and Mr. YANG Wenming are executive directors; Mr. YANG Shanhua, Ms. LI Ru, Mr. YANG Binghua, Mr. WANG Kan and Mr. KUI Kaipin are non- executive directors; and Mr. XIE Rong, Mr. YU Tze Shan Hailson, Mr. QIN Ling and Mr. LI Weidong are independent non-executive directors.

The directors of the Company jointly and severally accept full responsibility for the accuracy of information contained in this announcement and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in the announcement misleading.

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Disclaimer

China Traditional Chinese Medicine Holdings Co. Limited published this content on 08 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 April 2021 04:27:06 UTC.


© Publicnow 2021
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Financials
Sales 2020 14 965 M 2 303 M 2 303 M
Net income 2020 1 602 M 246 M 246 M
Net cash 2020 2 441 M 376 M 376 M
P/E ratio 2020 14,4x
Yield 2020 2,21%
Capitalization 23 165 M 2 984 M 3 565 M
EV / Sales 2020 1,38x
EV / Sales 2021 1,14x
Nbr of Employees 16 286
Free-Float 50,2%
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Technical analysis trends CHINA TRADITIONAL CHINESE MEDICINE HOLDINGS CO. LIMITED
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 4,55 CNY
Last Close Price 4,60 CNY
Spread / Highest target 52,9%
Spread / Average Target -1,11%
Spread / Lowest Target -45,0%
EPS Revisions
Managers and Directors
NameTitle
Xiao Chun Wang President. Managing Director & Executive Director
Xingkai Wang Chief Financial Officer
Xian Wu Chairman
Rong Xie Independent Non-Executive Director
Tze Shan Yu Independent Non-Executive Director
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