Zhejiang Jolly Pharmaceutical Co.,LTD agreed to acquire 20% stake in Zhejiang Jolly Baicao Pharmaceutical Co., Ltd. from Shen Aiying and Huang Mingwei for CNY 3.7 million.
December 14, 2020
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Zhejiang Jolly Pharmaceutical Co.,LTD (SZSE:300181) agreed to acquire 20% stake in Zhejiang Jolly Baicao Pharmaceutical Co., Ltd. from Shen Aiying and Huang Mingwei for CNY 3.7 million on December 14, 2020. Under the terms of the Shen Aiying and Huang Mingwe will sell 10% stake each and will receive consideration of CNY 1.856359 million. Post completion Zhejiang Jolly Baicao Pharmaceutical will become a wholly owned subsidiary of Zhejiang Jolly Pharmaceutical. Transaction has been approved at the 34th (temporary) meeting of the sixth Directorate of Zhejiang Jolly Pharmaceutical held on December 14, 2020. For the year ended 2019, Zhejiang Jolly Baicao Pharmaceutical Co., Ltd. reported CNY 112.8945 million in total assets, CNY 217.1651 million in revenue, CNY 2.699 million in EBIT, CNY 17.6 million in Net assets and CNY 1.9523 million in net profit. For the period ended October 31, 2020, Zhejiang Jolly Baicao Pharmaceutical Co., Ltd. reported CNY 133.5156 million in total assets, CNY 161.2078 million in revenue, CNY 1.286 million in EBIT, CNY 18.5636 million in Net assets and CNY 0.9636 million in net profit.
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.
ZHEJIANG JOLLY PHARMACEUTICAL CO.,LTD 
