Sapp Ace will list its subsidiary Strong Body Pharmaceuticals

the evening of November 23rd, Sappes announced that in order to optimize the allocation of resources, improve the profitability of assets and enhance the sustainable development capacity, the company held the 16th meeting of the 4th Board of Directors (interim meeting), the 16th meeting of the 4th Supervisory Board (interim meeting), The Bill on the Public Listing of the Transfer of 100% Equity in a Wholly Owned Subsidiary was considered and adopted, and the Company was agreed to transfer 100% of the shares held by Strong Body Pharmaceuticals by public listing on the Shanghai Joint Property Exchange, with the first listing price being 100% equity evaluation value of Strong Pharmaceuticals.Data show that strong body pharmaceutical industry was established in 2014, the registered capital of 182 million yuan, the scope of business includes tablets, hard capsules, granules, etc. , Sapp Ace holds 100% of its shares. From January to August this year, Strong Body Pharmaceuticals achieved revenue of RMB7.3339 million and net profit of RMB26.4182 million.As early as November 2015, Sapp Ace signed an equity transfer agreement with Dongfeng Pharmaceutical Co., Ltd. of Jilin Province and its actual controller Liu Xianbin on Strong Body Pharmaceuticals, and Sapp Ace bought a 100% stake in Strong Body Pharmaceuticals for 346 million yuan, together with a new Chinese herbal medicine extraction workshop and warehouse and new liquor production workshop project, with a total investment of 481 million yuan. According to the asset appraisal report, the total equity value of the shareholders at the benchmark date (August 31, 2020) was assessed at $195 million. The transfer of a 100 per cent stake in Strong Body Pharmaceuticals has been considered and approved by the Board of Directors of SappE.It is worth noting that in the first three quarters of this year, Shapps achieved operating income of 240 million yuan, a decrease of 40.61 percent year-on-year, and a loss of 28.06 million yuan, a decrease of 171.65 percent year-on-year.While slimming down, Shapps is also investing in health care. On September 30 this year, Sapp Ace announced that it intends to acquire a total of 100% of the shares of Taizhou Women's and Children's Hospital Co., Ltd. held by Shanghai Yu Association Medical Management Co., Ltd. and Shanghai Concord Hospital Investment Management Co., Ltd. for 500 million yuan.Shapps said that the original pharmaceutical business profitability decline, the product is relatively single, the company intends to cut into the health care industry with good prospects for development through this transaction, is conducive to the company's business development, looking for new profitable growth points. (Sina Pharmaceutical News)