Yunnan Hongxiang Yixintang Pharmaceutical Co., Ltd. completed the acquisition of Hainan Lianhe Guangantang Medicine Supermarket Chain Co., Ltd from a Hainan-based pharmaceutical company.
July 26, 2015
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Yunnan Hongxiang Yixintang Pharmaceutical Co., Ltd. (SZSE:002727) agreed to acquire Hainan Lianhe Guang'antang Medicine Supermarket Chain Co., Ltd from Hainan Guangantang Medicine Supermarket Group Co., Ltd. for approximately CNY 320 million on April 23, 2015. As of December 31, 2014, Hainan Lianhe Guangantang Medicine Supermarket Chain's total assets were 164.39 million, revenue was 96.30 million, operating revenue was 10.64 million and net profit was 7.98 million. The Board of Directors of Yunnan Hongxiang Yixintang Pharmaceutical Co unanimously approved the transaction and it does not need approval of the shareholders of of Yunnan Hongxiang Yixintang Pharmaceutical Co. A meeting of shareholders of Yunnan Hongxiang Yixintang Pharmaceutical will be held on May 12, 2015. As of May 12, 2015, the shareholders of Yunnan Hongxiang Yixintang Pharmaceutical approved the transaction and application of a loan of CNY 160 million from Shanghai Pudong Development Bank for the acquisition.
Yunnan Hongxiang Yixintang Pharmaceutical Co., Ltd. (SZSE:002727) completed the acquisition of Hainan Lianhe Guang'antang Medicine Supermarket Chain Co., Ltd from Hainan Guangantang Medicine Supermarket Group Co., Ltd. on July 27, 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.
Yunnan Hongxiang Yixintang Pharmaceutical Co., Ltd. completed the acquisition of Hainan Lianhe Guang’antang Medicine Supermarket Chain Co., Ltd from a Hainan-based pharmaceutical company.