Jiangsu Ruike Pharmaceutical Technology Co., Ltd announced that it expects to receive CNY 300 million in funding from Zhejiang Jiuzhou Pharmaceutical Co., Ltd
April 19, 2017
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Jiangsu Ruike Pharmaceutical Technology Co., Ltd announced that it will receive CNY 300,000,000 in an equity round of funding on April 20, 2017. The transaction will include participation from returning investor Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) to maintain its 100% stake in the company after the transaction. The transaction was approved at the 20th session of the 5th directorate of the investor and does not need its shareholders’ approval. The amount of CNY 90,625,000 will be added to the registered capital and remaining to the capital reserve The registered capital of the company will increase from CNY 209,375,500 to CNY 300,000,000.
The company reported total assets of CNY 705,236,000, net assets of CNY 94,394,300, net profit of –CNY 43,558,400, and revenues of CNY 261,109,000 for the year ended December 31, 2016.
Zhejiang Jiuzhou Pharmaceutical Co.,Ltd. is a China-based company principally engaged in the research, development, production and sales of chemical Active Pharmaceutical Ingredients (API) and intermediates. The Company mainly operates through two segments, including the New Drug and Intermediates Contract Development and Manufacturing Organization (CDMO) segment and the Specialty APIs and Intermediates segment. The New Drug and Intermediates CDMO segment mainly provides services for innovative medicines of pre-clinical chemical manufacturing and controls (CMC), clinical phases I, II and III, new drug application (NDA) and various stages after going public. The Specialty API and Intermediates segments mainly provides services including patent breakthroughs, production process improvement, drug certificate declaration, and cGMP standard commercial production for patented expired or soon-to-be-expired drugs for global chemical and generic drug manufacturers.
Jiangsu Ruike Pharmaceutical Technology Co., Ltd announced that it expects to receive CNY 300 million in funding from Zhejiang Jiuzhou Pharmaceutical Co., Ltd