Deqing County Cultural Tourism Development Group Co., Ltd. signed a share transfer agreement to acquire 7.1% stake in Zhejiang Jolly Pharmaceutical Co.,LTD from Yu Youqiang for approximately CNY 330 million.
September 27, 2020
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Deqing County Cultural Tourism Development Group Co., Ltd. signed a share transfer agreement to acquire 7.1% stake in Zhejiang Jolly Pharmaceutical Co.,LTD (SZSE:300181) from Yu Youqiang for approximately CNY 330 million on September 28, 2020. The offer per share is CNY 7.58. Deqing County shall pay the share transfer payment of CNY 150 million before October 31, 2020. After the transfer of the subject shares to Deqing County, it shall pay the balance of the transfer price of CNY 178.2 million on December 31, 2020. Post completion, Yu Youqiang will still own 21.34% of Zhejiang Jolly Pharmaceutical.
Zhejiang Jolly Pharmaceutical Co., Ltd. is a China-based company principally engaged in research, development, manufacture and sales of medicinal fungi series products. The Companyâs main business is mainly involved in pharmaceutical manufacturing, among which the activities are involved in manufacture and sale of active pharmaceutical ingredients, tablets, capsules, granules, Lyophilized powders and other products. The main products include Wuling series, bailing tablets series and Chinese medicine drinking tablets series, among others. Through its subsidiaries, the Company is also engaged in pharmaceutical circulation.
Deqing County Cultural Tourism Development Group Co., Ltd. signed a share transfer agreement to acquire 7.1% stake in Zhejiang Jolly Pharmaceutical Co.,LTD from Yu Youqiang for approximately CNY 330 million.
ZHEJIANG JOLLY PHARMACEUTICAL CO.,LTD 
