Hangzhou Yunbai Pharmaceutical Technology Co., Ltd. agreed to acquire 86.816% of stake in Shenzhen Daphne Pharmaceautical Co.,Ltd from from Mayinglong Pharmaceutical Group Co., LTD., Huayi Development Co., Ltd., China Bao An Co., Ltd and Guofa Jianfu Industrial Co., Ltd. for approximately CNY 260 million.
December 13, 2022
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Hangzhou Yunbai Pharmaceutical Technology Co., Ltd. agreed to acquire 86.816% of stake in Shenzhen Daphne Pharmaceautical Co.,Ltdfrom from Mayinglong Pharmaceutical Group Co., LTD. (SHSE:600993), Huayi Development Co., Ltd., China Bao An (Group) (Holding) Co., Ltd and Guofa Jianfu Industrial Co., Ltd. for approximately CNY 260 million on December 14, 2022. Hangzhou Yunbai will pay CNY 4.38 per share. Prior to this transaction, Mayinglong Pharmaceutical Group, Huayi Development, China Bao An (Group) (Holding) and Guofa Jianfu Industrial held 33.0511%, 29.1825%, 18.0131% and 6.5693% stake in Shenzhen Daphne Pharmaceautical, respectively and post closing, Hangzhou Yunbai Pharmaceutical Technology will hold 86.816% stake in it.
The board of Mayinglong Pharmaceutical Group approved the transaction. As of March 20, 2023, the Mayinglong Pharmaceutical Group Co., LTD. received the "Securities Transfer Registration Confirmation" issued by China Securities Depository and Clearing Co., Ltd. and received all the equity transfer funds of CNY 99.15 million. Mayinglong Pharmaceutical Group no longer hold any interest in Shenzhen Daphne Pharmaceautical.
Mayinglong Pharmaceutical Group Co., Ltd. is a China-based company, principally engaged in pharmaceutical production, retailing and wholesaling businesses. The Company's pharmaceutical products are classified as drugs for hemorrhoid, including diosmin tablets, suppositories, pastes and granules, among others; drugs for cough, including levodropropizine oral solution and compound glycyrrhiza oral solution, as well as drugs for skin injuries, including products such as erythromycin ointment. The Company also provides specialty drugs. The Company is also engaged in the production and distribution of eye cream products with the brand named Mayinglong BaBao, as well as the provision of hospital clinical service. The Company distributes its products mainly in domestic markets.
Hangzhou Yunbai Pharmaceutical Technology Co., Ltd. agreed to acquire 86.816% of stake in Shenzhen Daphne Pharmaceautical Co.,Ltd from from Mayinglong Pharmaceutical Group Co., LTD., Huayi Development Co., Ltd., China Bao An Co., Ltd and Guofa Jianfu Industrial Co., Ltd. for approximately CNY 260 million.