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00570 TRAD CHI MED
RTNominal down4.320 -0.030 (-0.690%)
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10/10/2018 11:29

Trad Chi Med (00570) sells plasma-based products stake

[ET Net News Agency, 10 October 2018] China Traditional Chinese Medicine (CTCM)(00570)
said its n indirect wholly-owned subsidiary has agreed to sell a 20% stake in a Target
Company for RMB90.6 million.
The purchaser is an indirect subsidiary of CNPGC (China National Pharmaceutical Group
Corporation), which is the holding company of Sinopharm Hongkong. Sinopharm Hongkong is
the controlling shareholder holding a 32.06% stake in CTCN.
The Target Company is principally engaged in the research and development, production
and sales of plasma-based biopharmaceutical products in the PRC. The products of the
Target Group are mainly supplied to hospitals and inoculation centres in the PRC.
CTCM said it will realise a gain on the disposal of RMB0.5 million. (KL)

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