Beijing Tongfengtang Pharmaceutical Management Co., Ltd. cancelled the acquisition of Wohua Pharmaceutical International Co., Ltd. from Shandong Wohua Pharmaceutical Co., Ltd..
March 26, 2021
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Beijing Tongfengtang Pharmaceutical Management Co., Ltd. entered into a share transfer agreement to acquire Wohua Pharmaceutical International Co., Ltd. from Shandong Wohua Pharmaceutical Co., Ltd. (SZSE:002107) for CNY 90 million on March 27, 2020. Beijing Tongfengtang Pharmaceutical Management Co., Ltd. must pay the full price within 3 days after the agreement become effective. For the year ended December 31, 2019, Wohua Pharmaceutical International Co., Ltd. reported total assets of CNY 84.95 million, owner's equity of CNY 83.98 million, revenue of CNY 0 and net loss of CNY 6.19 million. On March 27, 2020, the 7th session of Shandong Wohua Pharmaceutical Co., Ltd.'s 6th directorate approved the proposal on the transfer of equity in Wohua Pharmaceutical International.
Beijing Tongfengtang Pharmaceutical Management Co., Ltd. cancelled the acquisition of Wohua Pharmaceutical International Co., Ltd. from Shandong Wohua Pharmaceutical Co., Ltd. (SZSE:002107) on March 27, 2021.
Shandong Wohua Pharmaceutical Co., Ltd. is a China-based company principally engaged in the research, development, production and distribution of Chinese traditional patent medicines. The Company's main products consist of Xinkeshu tablets for the treatment of coronary heart disease; Gushu tablets for the treatment of middle-aged and senile osteoporosis, and Hedan tablets for promoting blood circulation and for the treatment of hyperlipidemia. The Company distributes its products in domestic market, mainly in East China, North China and Northeast China.
SHANDONG WOHUA PHARMACEUTICAL CO., LTD. 
