Beijing Aosaikang Pharmaceutical Co., Ltd (SHE: 002755) has announced a capital injection of RMB 220 million (USD 31 million) into its US-based subsidiary, AskGene Limited, established in 2012. This investment increases the Chinese firm’s shareholding in AskGene from 59.07% to 62.86%, solidifying its position as the controlling shareholder. Concurrently, TF Capital is investing RMB 30 million (USD 4.24 million) in AskGene. The funds will be allocated towards the company’s daily operations and research and development activities.
AskGene, which specializes in pharmaceutical research and development, manufacturing, and marketing, has a business presence in the digestive system, oncology, and anti-infection sectors. In the first half of 2024, AskGene reported a net profit of RMB -28.30 million (USD -4 million), with total assets amounting to RMB 109.83 million (USD 15.53 million) and total liabilities standing at RMB 775.54 million (USD 10.96 million). – Flcube.com
