Shandong Xinhua Pharmaceutical (00719) said it agreed to purchase from Hualu Holdings Company Limited 40% equity interest in Shandong Zibo Xincat Pharmaceutical Company Limited at Rmb102 million.
Xincat Pharmaceutical is principally engaged in the production and sale of tablets, capsules, granules, dry suspension agent, bulk pharmaceuticals, freeze dried powder or injection.
As Hualu Holdings is the controlling shareholder of SXPGC and holds a 36.32% equity
interest in Shandong Xinhua, Hualu Holdings is a connected person of Shandong Xinhua.
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