Guizhou Xinbang Pharmaceutical Company Limited announced that it has received CNY 100 million in funding from Guizhou Xinbang Pharmaceutical Co., Ltd.
May 05, 2014 at 12:00 am EDT
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Guizhou Xinbang Pharmaceutical Company Limited announced that it will receive CNY 100 million in an equity round of funding from existing investor Guizhou Xinbang Pharmaceutical Co., Ltd. on April 24, 2014. Pursuant to the transaction, the registered capital of the company will increase from CNY 1,000,000 to CNY 101,000,000. The transaction was approved at the 21st session of the 5th directorate meting of the investor and does not need the approval from the stockholders of the investor. The company reported total assets of CNY 586.16, net assets of 323.97 revenues of 599.07, and net profit of CNY 11.98 for the year ending 2013.
On May 5, 2014, Guizhou Xinbang Pharmaceutical Company Limited 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. 
