Wuhan Hiteck Biological Pharma Co.,Ltd agreed to acquire Tianjin Hankang Pharmaceutical Biotechnology Co., Ltd. from Yan Jie, Liang Yunce and GL Hacon HK Investment Limited for CNY 450 million.
September 12, 2018
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Wuhan Hiteck Biological Pharma Co.,Ltd (SZSE:300683) agreed to acquire Tianjin Hankang Pharmaceutical Biotechnology Co., Ltd. from Yan Jie, Liang Yunce and GL Hacon HK Investment Limited for CNY 450 million on September 13, 2018. Under the terms of transaction, Wuhan Hiteck Biological Pharma Co.,Ltd will acquire 69.45% stake from Yan Jie, 4.22% stake from Liang Yunce and 26.33% stake from GL Hacon HK Investment Limited. Tianjin Hankang Pharmaceutical Biotechnology Co., Ltd. had total assets of CNY 189.4 million and net assets of CNY 146.9 million as at December 31, 2017. For the year ended December 31, 2017, Tianjin Hankang Pharmaceutical Biotechnology Co., Ltd. had revenues of CNY 55 million and net loss of CNY 4.3 million. The transaction is subject to approval from shareholders of Wuhan Hiteck Biological Pharma Co.,Ltd. The transaction has been approved by the Board of Wuhan Hiteck Biological Pharma Co.,Ltd.
Wuhan Hiteck Biological Pharma Co Ltd is a biopharmaceutical company. The Company operates five segments. The Biopharmaceutical segment is engaged in research, development, production and sales of biological products, and its primary product is mouse nerve growth factor for injection named Jinlujie. The Medical Technology Service segment is mainly involved in the technical development, technical consultation and technology transfer of chemical drugs. The In Vitro Diagnostic Reagents segment operates the research, development, production and sales of in vitro diagnostic reagents. The Pharmaceutical Sales and Wholesale segment is engaged in the sales and wholesale of pharmaceuticals. The Other segmentâs businesses include the cultivation and sales of Chinese herbal medicines, and the wholesale and retail of health products.
Wuhan Hiteck Biological Pharma Co.,Ltd agreed to acquire Tianjin Hankang Pharmaceutical Biotechnology Co., Ltd. from Yan Jie, Liang Yunce and GL Hacon HK Investment Limited for CNY 450 million.
WUHAN HITECK BIOLOGICAL PHARMA CO.,LTD 
