Taide Pharmaceutical Co., Ltd completed the acquisition of Chinese Peptide Company Ltd.
July 12, 2020
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Taide Pharmaceutical (Zhejiang) Co., Ltd agreed to acquire Chinese Peptide Company Ltd from Guizhou Xinbang Pharmaceutical Co., Ltd. (SZSE:002390) for approximately CNY 720 million on June 13, 2020. The transfer price will be paid in two phases- The first phase will be paid within fifteen working days after the entry into force of this agreement, 51% of the equity transfer price and Second phase within one year after the completion of the equity transfer, remaining 49% of the equity transfer price. As on March 31, 2020, Chinese Peptide Company Ltd reported total assets of CNY1.15 billion, owners equity of CNY83.4 million, Operating revenue of CNY48.6 million, operating loss of CNY14.81 million, net loss of CNY13.31 million. The transaction has been approved by Guizhou Xinbang Pharmaceutical Co., Ltd. board.
Taide Pharmaceutical (Zhejiang) Co., Ltd completed the acquisition of Chinese Peptide Company Ltd. on July 13, 2020. The industrial and commercial registration of equity transfer was completed on July 13, 2020. The transaction was approved by the shareholders of Guizhou Xinbang Pharmaceutical Co., Ltd. in the second extraordinary general meeting in 2020.
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. 
