Guizhou Kekai Medicine Co., Ltd. announced that it has received CNY 310 million in funding from Guizhou Xinbang Pharmaceutical Co., Ltd.
May 28, 2014 at 12:00 am EDT
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Guizhou Kekai Medicine Co., Ltd. announced that it will receive CNY 310,000,000 in an equity round of funding from existing investor Guizhou Xinbang Pharmaceutical Co., Ltd. on May 16, 2014. Pursuant to the transaction, the capital of the company will increase from CNY 101,454,810 to CNY 411,454,810 wherein the investor will hold 99.954% stake. The company reported total assets of CNY 1,471,845,900, net assets of CNY 364,530,400, revenues of CNY 1,643,947,700, and net profit of CNY 86,176,100 for the year ending 2013. The transaction was approved at the 22nd session of the 5th directorate meeting of the investor and does not need the approval from the stockholders of the investor.
On May 28, 2014, Guizhou Kekai Medicine Co., Ltd. closed the transaction. The company also completed its change in industry and commerce registration procedures.
GUIZHOU XINBANG PHARMACEUTICAL Co., LTD is a China-based company, principally engaged in the research and development, manufacture and distribution of medical products. The Company operates its businesses through three segments. The Pharmaceutical Manufacturing segment is engaged in the manufacture and distribution of Chinese patent medicines, such as Ginkgo Leaves Tablets. The Pharmaceutical Distribution segment includes rapid wholesale business and medicine retail business. The Medical Services segment is engaged in the provision of medical services. It operates its businesses primarily in domestic markets.
GUIZHOU XINBANG PHARMACEUTICAL CO., LTD. 
