Yatai Group Purchases 52% Equity of Beijing Yongan Fuxing Pharmaceutical Co., Ltd. With RMB153 Million to Increase Investment in Pharmaceutical Industry
Release Time：2017-08-15
In the forenoon of August 10, 2017, signing ceremony for reorganization of Beijing Yongan Fuxing Pharmaceutical Co., Ltd. was held in Yatai Hotel in Beijing. The following persons attended the signing ceremony: Yi Yueming, Deputy Director of State-owned Assets Supervision and Administration Commission of Dongcheng District, Beijing City, Peng Xiang, President of Beijing Dongfang Xinda Asset Management Corporation, Li Dongjiu, Senior Vice President of Shanghai Fosun Group and President of Pharmaceutical Business Committee, Deng Xianghai, President of Beijing Huachen Weiye Investment Management Center, Liu Xiaofeng, Vice President Yatai Group, Wang Jinsong and Feng Weijie, the two Assistant Presidents. The signing ceremony was presided over by Feng Weijie, Assistant President of Yatai Group and General Manager of Jilin General Pharmacy.
Site of signing ceremony
At the signing ceremony, Jilin Pharmacy signed Share Transfer Agreement with Shanghai Fosun Medicine and Huachen Weiye respectively. According to the agreement, Jilin Pharmacy invests RMB135 million and RMB 18 million to acquire 46% equity held by Shanghai Fosun Pharmaceutical Co., Ltd. and 6% equity of Yongan Fosun held by Beijing Huachen respectively. After completion of the reorganization, Jilin Pharmacy will hold 52% equity of the new Yatai Yongan Pharmaceutical Co., Ltd.
Beijing Yongan Fosun Pharmaceutical Co., Ltd. was established on April 2002, with registered capital of RMB150 million. Its scope of business covers traditional Chinese and Western medicines, Chinese medicinal materials, medical instruments, biochemical drugs, disinfectants, pharmaceutical raw materials, health care products, family planning products and so on. More than 8,000 kinds of products have been operated.
The company has two subsidiaries: Beijing Yongantang Pharmaceutical Chain Co., Ltd. and Beijing Wangfujing Pharmaceutical Store Co., Ltd. The main business model includes wholesale and retail at present. The brand of “Yongantang” was founded in Yongle period of Ming Dynasty, is a China time-honored brand more than 600 years, and has high brand awareness. Time-honored “Yongrentang”, “Hongrentang” and “Baicao Drugstore” are chain stores of Yongantang.
When Liu Xiaofeng, Vice President of Yatai Group addressed at the signing ceremony speech, he pointed out that the reorganization is a significance measure after the strategy of Yatai Group increasing pharmaceutical industry, distributing in Beijing and Serving Beijing, Tianjin and Hebei. Next, the pharmaceutical industry will cooperate with shareholders of Dongfang Xinda, etc. to ordering enhance management, mechanism, capital and culture based on remaining operation team and employee team of Yatai Yongan Pharmaceutical Co., Ltd., to ensure successfully connect and steadily transiting of operation and management of Yatai Yongan Pharmaceutical Co., Ltd. At the same time, Yatai Yongan Pharmaceutical Co., Ltd. is guided to prepare development planning and decide future development direction and new target. He indicated that Yatai Yongan Pharmaceutical Co., Ltd. is bound to remaining 600-year old tradition and cultural essence of Beijing Yongantang, as a Chinese old brand, making persistent efforts, sparing no pains, and realizing the objective of Yatai Yongan Pharmaceutical Co., Ltd. in adjustment, promotion, innovation and renaissance.
Signing between both parties
