Jiangxi Yifeng Pharmacy Chain Co., Ltd. announced that it expects to receive CNY 45 million in funding from Yifeng Pharmacy Chain Co., Ltd.
August 25, 2021
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Jiangxi Yifeng Pharmacy Chain Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 45,000,000 on August 26, 2021. The transaction will include participation from returning investor Yifeng Pharmacy Chain Co., Ltd. to retain 100% stake in the company. The transaction has been approved at the 5th meeting of the investor's 4th directorate, and do not need the shareholders’ approval. The registered capital of the company will increase from CNY 5,000,000 to CNY 50,000,000.
Yifeng Pharmacy Chain Co., Ltd. is a China-based company principally engaged in the chain retailing of pharmaceuticals, health products, medical equipment and health-related household convenience products. The Company mainly operates through retailing segment. The Company operates more than 1, 000 direct pharmaceutical chain stores mainly in six provinces (or municipalities), including Hunan, Hubei, Shanghai, Jiangsu, Zhejiang and Jiangxi. The retail products of the Company includes pharmaceuticals, medical equipment, health products, health food, personal care products and maternal and child products. The Company is also engaged in the wholesale business through its subsidiary, Hunan Yifeng Pharmaceutical Co., Ltd.