By Fineline Cube 
Grand Pharmaceutical Group Limited (HKG: 0512) announced on February 21, 2025, that it plans to exercise partial subscription rights to acquire the remaining equity interests in Nanjing Kainite Medical Technology Co., Ltd from Nanjing Fund and Shanghai Hongsheng Intelligent Technology Co., Ltd.
Acquisition Details
According to the latest agreement, the acquisition will be based on a valuation of the Target Company at RMB 357 million. The purchase price will be determined according to the equity ratios held by Nanjing Fund and Shanghai Hongsheng, totaling approximately RMB 109 million. Upon completion of the acquisition, Grand Pharmaceutical’s ownership stake in the Target Company will increase to 59.91%, making it an indirectly controlled subsidiary of Grand Pharmaceutical.
Company Background
As of the date of this announcement, Grand Pharmaceutical holds a 29.27% stake in the Target Company, Nanjing Fund holds a 29% stake, and Shanghai Hongsheng holds a 1.64% stake. The original equity holders retain a 40.09% stake in the Target Company. The Target Company, a limited liability company established in China, is primarily engaged in the research and development of medical devices in the field of neurointervention.-Fineline Info & Tech