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Article: MINGZHU GROUP TO QUIT PHARMACEUTICAL ARM

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AsiaInfo Services
Article date:
May 12, 2009
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AsiaInfo Services
05-12-2009
Mingzhu Group to Quit Pharmaceutical Arm

GUANGZHOU, May 12, 2009 (SinoCast Daily Business Beat via COMTEX) -- Guangdong Mingzhu Group Co., Ltd. (SHSE: 600382) plans to sell out 25.7848 million shares of its subsidiary Guangdong Mingzhu Pharmaceutical Co., Ltd. for not less than CNY 36.4882 million.

Because the subsidiary could not achieve a high profitability amid the fierce competition in China's pharmaceutical industry, failing to reach earlier expectations.

The parent has invested a lot for the sake of Mingzhu Pharmaceutical' business upgrade. However, the move does not bring about much positive influence on the Shanghai-listed company but weakens its ...

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