Zhejiang Siwei Pharmaceutical Technology Co., Ltd announced that it expects to receive CNY 50 million in funding from Zhejiang Jiuzhou Pharmaceutical Co., Ltd
February 12, 2018
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Zhejiang Siwei Pharmaceutical Technology Co., Ltd announced a private placement of common shares for gross proceeds of CNY 50,000,000 on February 13, 2017. The transaction includes participation from existing investor Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456). Post the closing, the registered capital of the company will increase from CNY 50,000,000 to CNY 100,000,000 and the investor will maintain 100% stake in the company. The transaction was approved by the board of directors of the company at the 6th directorate’s 4th meeting of the investor. The transaction does not need approval from the shareholders. The company reported total assets of CNY 122,058,500, net assets of CNY 78,096,400, revenue of CNY 128,913,800, and net profit of CNY 1,435,800 for the year ended December 31, 2017.
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.
Zhejiang Siwei Pharmaceutical Technology Co., Ltd announced that it expects to receive CNY 50 million in funding from Zhejiang Jiuzhou Pharmaceutical Co., Ltd