NORTHEAST PHARMACEUTICAL GROUP SOLD ARM TO PARENT
AsiaInfo Services, December, 2007
AsiaInfo Services 12-31-2007 Northeast Pharmaceutical Group Sold Arm to Parent SHENYANG, Dec 31, 2007 (SinoCast via COMTEX) -- Shenyang-based pharmaceutical company Northeast Pharmaceutical Group Co., Ltd. (SZSE: 000597) sold a 99% stake in its arm Shenyang Dongyao Keda Pharmaceutical Co., Ltd.
to its parent Northeast Pharmaceutical Group, for free, the listed vehicle announced on December 27, 2007. Such a move is aiming to shine the performance of the listed vehicle. However, the prospect of the parent company seems to be gloomy. Shenyang Dongyao Keda Pharmaceutical has had total assets of CNY 29.53 million and total liabilities of CNY 94.11 million. It is the fifth consecutive year since it ceased production. Established in June 1993 in the northeastern...
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