Shanxi Hongxiang Yixintang Pharmaceutical Co., Ltd. announced that it expects to receive CNY 120 million in funding from Yunnan Hongxiang Yixintang Pharmaceutical Co., Ltd.
October 24, 2016
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Shanxi Hongxiang Yixintang Pharmaceutical Co., Ltd. announced that it will receive CNY 120,000,000 in an equity round of funding on October 25, 2016. The transaction will include participation from existing investor, Yunnan Hongxiang Yixintang Pharmaceutical Co., Ltd. (SZSE:002727). On closing, the registered capital of the company will increase from CNY 18,000,000 to CNY 138,000,000. On closing, the investor will continue to retain its 100% stake in the company. As part of the transaction, the investor will acquire 86.956522% stake in the increased capital of the company. The transaction was approved at the 28th session of the 3rd directorate of the investor. The transaction is further subject to approval from the shareholders of the investor. The company reported total assets of CNY 271,091,241.68, liabilities of CNY 270,946,850.48, net assets of CNY 144,391.20, operating revenues of CNY 108,619,975.63, and net profit of CNY -1,165,744.91 for the year ended December 31, 2015.
Yixintang Pharmaceutical Group Co., Ltd., formerly Yunnan Hongxiang Yixintang Pharmaceutical Co., Ltd., is a China-based company principally engaged in the pharmaceutical chain retailing and pharmaceutical wholesaling businesses. The Companyâs main products include traditional Chinese medicines, western medicines, medical equipment, birth control products and disinfection products, among others. The Company distributes its products through regular chain drugstores. The Company mainly operates its business in domestic market, with southwest area of China as its main market.
Shanxi Hongxiang Yixintang Pharmaceutical Co., Ltd. announced that it expects to receive CNY 120 million in funding from Yunnan Hongxiang Yixintang Pharmaceutical Co., Ltd.