Beijing Sun-Novo Pharmaceutical Research Co., Ltd. cancelled the acquisition of Beijing Langyan Life Technology Holdings Co., Ltd. from a group of shareholders.
September 03, 2023
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Beijing Sun-Novo Pharmaceutical Research Co., Ltd. (SHSE:688621) agreed to acquire Beijing Langyan Life Technology Holdings Co., Ltd. from a group of shareholders on October 24, 2022. Under the terms, consideration will be paid in form of cash and shares. On November 7, 2022 The board of directors of Beijing Sun-Novo Pharmaceutical Research approved the proposal to issue share and pay cash to purchase assets and raise supporting funds and other proposals related to this transaction. The Above have obtained:The Approval of the 2nd Meeting of the Company?s 2nd Directorate;The Approval of Beijing Langyan Life Technology Holdings Co., Ltd.?s extraordinary shareholders meeting. The Above are subject to:The Company?s Shareholders? Approval;The Shanghai Stock Exchange?s Approval;The CSRC?s Approva. Minsheng Securities Co.,ltd. acted as financial advisor, DeHeng Law Offices acted legal advisor and Moore Stephens Da Hua for Beijing Sun-Novo Pharmaceutical Research Co., Ltd. As of April 27, 2023 Beijing Sun-Novo Pharmaceutical Research Co., Ltd. (SHSE:688621) shareholders and directors approved the deal. For the year ended December 2021, Revenue was of CNY 617 million, Operating Profit was of CNY 9.5 million, Net Profit was of CNY 8.5 million, Total Assets were of CNY 1 billion and Net Assets were of CNY 619 million. Minsheng Securities Co.,ltd. acted as financial advisor, Li zhenhui, Su Zhongzheng, Zhang Boyang of DeHeng Law Offices as legal advisor, and Moore Stephens Da Hua as accountant to Beijing Sun-Novo Pharmaceutical Research Co., Ltd.
Beijing Sun-Novo Pharmaceutical Research Co., Ltd. (SHSE:688621) cancelled the acquisition of Beijing Langyan Life Technology Holdings Co., Ltd. from a group of shareholders on September 4, 2023.
Beijing Sun Novo Pharmaceutical Research Co Ltd is a China-based company that provides research and development outsourcing services for pharmaceutical companies. The Company's main businesses include comprehensive research and development services in generic drug development, consistency evaluation and innovative drug development. Its services mainly include pharmaceutical research, clinical trials and biological analysis. Pharmaceutical research services include raw materials and preparation process research, quality standards and stability research, etc. Clinical trial services include phase I-IV clinical trial research, Bioequivalency (BE) test research. Biological analysis services include the use of mass spectrometry analysis platform, immunoassay platform, cell analysis platform, molecular biology analysis platform for method development, method validation, biological sample detection research, etc. The Company mainly conducts its businesses in the domestic market.
Beijing Sun-Novo Pharmaceutical Research Co., Ltd. cancelled the acquisition of Beijing Langyan Life Technology Holdings Co., Ltd. from a group of shareholders.