Yunnan Hongyun Health Management Services Co., Ltd. completed the acquisition of additional 40% stake in Kunming Shengda Pharmaceutical Co., Ltd. from Yunnan Hongxiang Yixintang Pharmaceutical Co., Ltd..
February 01, 2016 at 11:00 pm EST
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Yunnan Hongyun Health Management Services Co., Ltd. agreed to acquire additional 40% stake in Kunming Shengda Pharmaceutical Co., Ltd. from Yunnan Hongxiang Yixintang Pharmaceutical Co., Ltd. (SZSE:002727) for CNY 12 million on November 20, 2015. Kunming Shengda Pharmaceutical Co., Ltd. had total assets of CNY 30.13 million, revenue of CNY 12.04 million AND operating profit of CNY 1.77 million for the year ended December 31, 2014. The deal was approved by the Board of Directors of Yunnan Hongxiang Yixintang Pharmaceutical.
Yunnan Hongyun Health Management Services Co., Ltd. completed the acquisition of additional 40% stake in Kunming Shengda Pharmaceutical Co., Ltd. from Yunnan Hongxiang Yixintang Pharmaceutical Co., Ltd. (SZSE:002727) on February 2, 2016.
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.