China Cinda Asset Management Co., Ltd. cancelled the acquisition of 5.3% stake in Jointown Pharmaceutical Group Co., Ltd. from Chuchang Investment Group Co. Ltd, Shanghai Hongkong Industrial Investment Co., Ltd. and Zhongshan Guangyin Investment Co., Ltd.
October 24, 2020
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China Cinda Asset Management Co., Ltd. (SEHK:1359) signed the agreement to acquire 5.3% stake in Jointown Pharmaceutical Group Co., Ltd. (SHSE:600998) from Chuchang Investment Group Co. Ltd, Shanghai Hongkong Industrial Investment Co., Ltd. and Zhongshan Guangyin Investment Co., Ltd. for CNY 1.4 billion on October 25, 2019. Under the agreement, China Cinda Asset Management Co., Ltd. will acquire 100 million shares at CNY 14.147 per share. China Cinda Asset Management Co., Ltd. will acquire 3.14% stake (59 million shares), 1.76% stake (33 million shares) and 0.42% stake (8 million shares) from Chuchang Investment Group Co. Ltd, Shanghai Hongkong Industrial Investment Co., Ltd. and Zhongshan Guangyin Investment Co., Ltd. respectively. Post completion, Chuchang Investment Group Co. Ltd, Shanghai Hongkong Industrial Investment Co., Ltd. and Zhongshan Guangyin Investment Co., Ltd. hold 12.02%, 21.54% and 6.64% stake respectively.
China Cinda Asset Management Co., Ltd. (SEHK:1359) cancelled the acquisition of 5.3% stake in Jointown Pharmaceutical Group Co., Ltd. (SHSE:600998) from Chuchang Investment Group Co. Ltd, Shanghai Hongkong Industrial Investment Co., Ltd. and Zhongshan Guangyin Investment Co., Ltd. on October 25, 2020.
China Cinda Asset Management Co., Ltd. is an investment holding company mainly engaged in the provision of financial services as well as the management of distressed asset management. Along with subsidiaries, the Company operates its business through three segments. The Financial Services segment is involved in the provision of financial services in sectors such as bank, securities, insurance, financial leasing and asset management. The Distressed Asset Management segment is engaged in the management of assets arising from acquisition of distressed debts and debt-to-equity-swap and the provision of clearing settlement and fiduciary services. The Financial Investment and Asset Management segment is involved in the management of financial investments on private funds and companies in certain other industries.
China Cinda Asset Management Co., Ltd. cancelled the acquisition of 5.3% stake in Jointown Pharmaceutical Group Co., Ltd. from Chuchang Investment Group Co. Ltd, Shanghai Hongkong Industrial Investment Co., Ltd. and Zhongshan Guangyin Investment Co., Ltd.
CHINA CINDA ASSET MANAGEMENT CO., LTD. 
