Guizhou Xinbang Pharmaceutical Co., Ltd. acquired 1.56% stake in Guizhou Kekai Medicine Co., Ltd. for CNY 15.8 million.
November 18, 2013 at 11:00 pm EST
Share
Guizhou Xinbang Pharmaceutical Co., Ltd. (SZSE:002390) signed the equity transfer agreement to acquire 1.56% stake in Guizhou Kekai Medicine Co., Ltd. for CNY 15.8 million on November 15, 2013. Under the terms of the deal, 1.58 million shares are acquired. As of December 31, 2012, Guizhou Kekai Medicine Co., Ltd. reported total assets of CNY 1.13 billion, total liabilities of CNY 840.91 million, net assets of CNY 285.95 million, revenue of CNY 1.34 billion, operating profit of CNY 77.48 million and net profit of CNY 55.92 million. As of September 30, 2013, Guizhou Kekai Medicine reported total assets of CNY 1.5 billion, total liabilities of CNY 1.14 billion and net assets of CNY 357.31 million.
Guizhou Xinbang Pharmaceutical Co., Ltd. (SZSE:002390) completed the acquisition of 1.56% stake in Guizhou Kekai Medicine Co., Ltd. on November 19, 2013.
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. 
