Wuhan Hiteck Biological Pharma Co.,Ltd intends to acquire a 67% stake in Xiamen Weijia Pharmaceutical Co., Ltd. from Yongxin County Xinxinyuan Enterprise Management Consulting Center (Limited Partnership) for CNY 70.01 million.
November 12, 2020
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Wuhan Hiteck Biological Pharma Co.,Ltd (SZSE:300683) intends to acquire a 67% stake in Xiamen Weijia Pharmaceutical Co., Ltd. from Yongxin County Xinxinyuan Enterprise Management Consulting Center (Limited Partnership) for CNY 70.3 million on November 13, 2020. As per terms of transaction, CNY 28.14 million will be paid in the first phase, CNY 21.105 million will be paid in the second phase, and CNY 21.105 million will be paid in the third phase. Post completion, will hold 3% stake in Xiamen Weijia Pharmaceutical Co., Ltd. As on August 31, 2020, Xiamen Weijia Pharmaceutical Co., Ltd reported total assets of CNY 34.006880 million and net assets of CNY 18.500919 million. Wuhan Hiteck Biological Pharma Co., Ltd. received a notice from Weijia Pharmaceutical Co., Ltd. stating that Weijia pharmaceutical has completed the industrial and commercial change registration procedures of this transaction and obtained the business license renewed by Xiamen Haicang market supervision and Administration Bureau.
Wuhan Hiteck Biological Pharma Co Ltd is a biopharmaceutical company. The Company operates five segments. The Biopharmaceutical segment is engaged in research, development, production and sales of biological products, and its primary product is mouse nerve growth factor for injection named Jinlujie. The Medical Technology Service segment is mainly involved in the technical development, technical consultation and technology transfer of chemical drugs. The In Vitro Diagnostic Reagents segment operates the research, development, production and sales of in vitro diagnostic reagents. The Pharmaceutical Sales and Wholesale segment is engaged in the sales and wholesale of pharmaceuticals. The Other segmentâs businesses include the cultivation and sales of Chinese herbal medicines, and the wholesale and retail of health products.
Wuhan Hiteck Biological Pharma Co.,Ltd intends to acquire a 67% stake in Xiamen Weijia Pharmaceutical Co., Ltd. from Yongxin County Xinxinyuan Enterprise Management Consulting Center (Limited Partnership) for CNY 70.01 million.