Shaanxi Kanghui Pharmaceutical Co., Ltd. completed the acquisition of an additional 10.7143% minority stake in Hubei Kelawei Biopharmaceutical Co., Ltd. from Xi'an Taifeng Pharmaceutical Investment Partnership (Limited Partnership).
December 13, 2021
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Shaanxi Kanghui Pharmaceutical Co., Ltd. (SHSE:603139) agreed to acquire an additional 10.7143% minority stake in Hubei Kelawei Biopharmaceutical Co., Ltd. from Xi'an Taifeng Pharmaceutical Investment Partnership (Limited Partnership) for CNY 30 million on December 10, 2021. In a related transaction, Shaanxi Kanghui Pharmaceutical will subscribe for shares in Hubei Kelawei Biopharmaceutical Co., Ltd. Post completion of all the transaction, Shaanxi Kanghui Pharmaceutical will hold 40% stake in Hubei Kelawei Biopharmaceutical Co., Ltd. Hubei Kelawei Biopharmaceutical Co., Ltd. reported total assets of CNY 82.5 million, total liabilities of CNY 10.6 million, net assets of CNY 71.9 million, total operating income of CNY 11 million and net loss of CNY 13.1 million for the year ended December 31, 2020. Hubei Kelawei Biopharmaceutical Co., Ltd. reported total assets of CNY 107.8 million, total liabilities of CNY 31.98 million and net asses of CNY 75.8 million for the year ended July 31, 2021. Transaction has been approved by all the board of directors of Shaanxi Kanghui Pharmaceutical Co., Ltd.
Shaanxi Kanghui Pharmaceutical Co., Ltd. (SHSE:603139) completed the acquisition of an additional 10.7143% minority stake in Hubei Kelawei Biopharmaceutical Co., Ltd. from Xi'an Taifeng Pharmaceutical Investment Partnership (Limited Partnership) on December 14, 2021.
SHAANXI KANGHUI PHARMACEUTICAL CO., LTD. is principally engaged in research and development, manufacture and sales of Chinese patent medicines. The Company's main products include Kun Fu Kang capsules (tablets), Fufang Shuanghua tablets, Xiaoyin granules, Fuguigutong capsules, Zhiyao Xiaoke capsules and Fufang Qingdai perfusates. The Company distributes its products just within China domestic market.