By Fineline Cube China-based Yifeng Pharmacy Chain Co., Ltd (SHA: 603939) announced that its subsidiary, Shijiazhuang Xinxing Pharmacy Chain Co., Ltd, will establish a new company with Tangshan Deshuntang Pharmaceutical Chain Co., Ltd. The new entity, tentatively named Tangshan Xinxing Deshuntang Pharmaceutical Chain Co., Ltd, will take over all business and assets of Deshuntang. Xinxing will acquire a 70% stake in the new company for RMB 119 million (USD 17.5 million).
Deshuntang’s Profile
Deshuntang operates 85 well-located shops in Tangshan and enjoys a high market share, customer satisfaction, and brand influence in the region. The company reported RMB 191 million (USD 28.2 million) in revenue in 2021, marking a 31.96% increase from the previous year.-Fineline Info & Tech