By Fineline Cube 
China Meheco Group Co., Ltd (SHA: 600056) announced the acquisition of 100% stake in Beijing Golden Harvest Science and Technology Development Co., Ltd., a wholly owned subsidiary of China Xinxing Group Co., Ltd., for RMB 302.07 million (USD 41.85 million) in cash. This strategic move aims to enhance Meheco’s marketing and supply chain management capabilities and to innovate in pharmaceutical marketing models.
Acquisition Background
Golden Harvest, established in 1993, was originally under the jurisdiction of the Beijing Enterprise Management Bureau of the General Logistics Department of the People’s Liberation Army. It later joined Xinxing Group after decoupling from the military. The company entered the e-commerce sector in 2011 and has since established partnerships with renowned brands like Philips and Omron.-Fineline Info & Tech