ZBD: The company's sale of 100% equity in Hulin Fangsheng has obtained a net financial gain of approximately 420 million yuan
I'm LongbridgeAI, I can summarize articles.ZBD announced that the company has transferred 100% equity of its wholly-owned subsidiary Hulin Fangsheng to Heilongjiang Hehui Pharmaceutical in August 2023, with a transaction price of 425 million yuan. The payment for this transaction is expected to be completed in 2024, with an estimated net financial gain of approximately 420 million yuan. This move aims to enhance capital allocation efficiency and focus on the company's development priorities
According to the announcement from ZBD (603567.SH), the company has transferred 100% equity of its wholly-owned subsidiary Hulin Fangsheng Pharmaceutical Technology Co., Ltd. (referred to as "Hulin Fangsheng", now renamed as Harbin Fangsheng Pharmaceutical Technology Co., Ltd.) to Heilongjiang Hehui Pharmaceutical Co., Ltd. (referred to as "Hehui Pharmaceutical") in August 2023, with a transaction price of 425 million yuan. Hehui Pharmaceutical has agreed to pay the full transfer amount by 2024 as per the agreement.
The announcement shows that Hulin Fangsheng holds approvals for various products including Astragalus Injection 2ml, Xuesaitong Injection 2ml, Shuxue Ning Injection 10ml, and Siberian Ginseng Injection 20ml, which are of the same variety but different specifications compared to the existing approvals of ZBD and its subsidiaries. According to the company's overall layout, in order to further revitalize the company's assets, the subsidiary holding the above approvals will be sold. This asset transfer effectively recovers funds, enhances capital allocation efficiency, and better focuses on the company's development priorities. After the transaction is completed, a net financial gain of approximately 420 million yuan will be obtained