C.Q. Pharmaceutical Holding Co., Ltd (SHE: 000950), a Chongqing-based pharmaceutical company, is set to be indirectly controlled by China’s State-owned Assets Supervision and Administration Commission of the State Council (SASAC). The company has entered into an acquisition agreement with China General Technology (Group) Holding Co Ltd (Genertec), a centrally administered State-owned enterprise under the SASAC’s direction.
Genertec’s Acquisition and Control of C.Q. Pharma
Genertec is acquiring a 2.00% stake in Chongqing Pharmaceutical Health Industry Co., Ltd., the controlling shareholder of C.Q. Pharma, through a free transfer of state-owned equity. This strategic move will increase Genertec’s stake to 51.00% in Chongqing Pharmaceutical Health Industry, thereby granting Genertec control over C.Q. Pharmaceutical Holding Co., Ltd.
Genertec’s Core Business and Medical Group Leadership
Genertec, with its core business sectors in advanced manufacturing and technology services, pharmaceuticals and healthcare, and trade and engineering services, has evolved into a leading state-owned medical group in China. The group boasts the largest number of hospital beds and the widest network coverage, encompassing pharmaceuticals, medical devices, and medical health services.-Fineline Info & Tech
