Guangdong Hongding Real Estate Investment Development Group Co., Ltd. agreed to acquire 25% stake in Guangzhou Jinpibao Property Co., Ltd. from Guangdong Taiantang Pharmaceutical Co., Ltd. for approximately CNY 220 million.
May 21, 2021
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Guangdong Hongding Real Estate Investment Development Group Co., Ltd. agreed to acquire 25% stake in Guangzhou Jinpibao Property Co., Ltd. from Guangdong Taiantang Pharmaceutical Co., Ltd. (SZSE:002433) for approximately CNY 220 million on May 21, 2021. Guangzhou Jinpibao Property reported total assets of CNY 1.6 billion and total common equity of CNY 93.6 million till March 31, 2021. Guangzhou Jinpibao Property reported total assets of CNY1.5 billion, total common equity of CNY95 million, revenues of CNY 0.13 million and net loss of CNY 2.8 million for the year ending December 31, 2020. Guangdong Hongding Real Estate Investment Development Group's board approved the deal. This transaction still needs to be approved by the company’s shareholders’ meeting.
Guangdong Taiantang Pharmaceutical Co Ltd is a company mainly engaged in the manufacturing of Chinese patent medicines and the primary processing of Chinese medicinal materials. The Company operates five segments. Chinese Patent Medicines Manufacturing Business segment is mainly responsible for the production and wholesale of Pibao cream, Qilin pill, Xinbao pill, Xinxin pill, Tongqiao Yixin pill, etc. Primary Processing Business segment of the traditional Chinese medicine materials is mainly responsible for planting, primary processing and sales of the ginseng and traditional Chinese medicine materials. Drug Wholesale and Retail Business segment is mainly responsible for the wholesale and retail of drugs and medical devices. Health Industry Development and Products Sales segment is mainly responsible for the development and sales of health concept real estate products. Medical Services segment is mainly responsible for the in-depth development of medical and elderly care services.
Guangdong Hongding Real Estate Investment Development Group Co., Ltd. agreed to acquire 25% stake in Guangzhou Jinpibao Property Co., Ltd. from Guangdong Taiantang Pharmaceutical Co., Ltd. for approximately CNY 220 million.
GUANGDONG TAIANTANG PHARMACEUTICAL CO., LTD. 
