On July 3, 2021, Guangji Pharmaceutical's
subsidiary, Guangji Mengzhou, paused its production according to the company's
annual work plan. During the shutdown period, the workshop conducted equipment
and facility maintenance. However, on September 13, Guangji Mengzhou annouced
that all necessary maintenance was completed and that the company would resume
normal production.
Guangji Pharmaceutical held a fifth meeting of
the tenth board of directors and a fifth meeting of the tenth board of
supervisors on August 5, 2021, at which attendees reviewed and approved the
project proposal on the use of raised funds to increase capital to holding
subsidiaries to implement fund-raising projects. It was agreed that the company
will use part of the raised funds to increase the capital of its holding
subsidiary, Guangji Mengzhou. The capital increase is RMB 180 million, of which
the raised capital is about RMB 172 million, the self-owned capital is about
RMB 7.9 million.
The target of this capital increase is a
project of Guangji Mengzhou aimed at producing an annual output of 1,000 tons
of various vitamin B12 products. The investment plan conforms to the fund
investment direction of the fund-raising project and at the same time conforms
to the actual capital needs of Guangji Mengzhou.
Guangji Mengzhou
a world leader in riboflavin production
Guangji Mengzhou was established on April 24,
2007. The company's riboflavin production and sales volume ranks first in the
world, making up 80% of the domestic market and 40% of the international
market. The company's business scope includes the production and sales of feed
additives, as well as the import and export of goods and technology.
Guangji Mengzhou is one of the 18 key
high-growth enterprises in Jiaozuo city and is also a Double Hundred Enterprise
in Henan province. Its project for the annual production of 2500 tons of feed
grade riboflavin products is a key construction project in Jiaozuo and a key
investment project for Mengzhou. The project successfully connects riboflavin product
technology as well as market and talent advantages of Guangji Pharmaceutical
with Mengzhou's resource advantages. Guangji Pharmaceutical and Guangji
Mengzhou hence complement each other's strong points with this project in order
to further consolidate and expand the market share of Guangji Pharmaceutical’s
riboflavin products, and comprehensively enhance the core competitiveness of
their riboflavin products.
Hubei Guangji
Pharmaceutical partners with Yangtze Investment to make Hubei a pharmaceutical
center of China
Yangtze
Investment, an investment firm affiliated with Hubei Guangji Pharmaceutical,
signed a product cooperation agreement with Sinopharm Hubei on September 13.
According to the agreement, Guangji Pharmaceutical and Sinopharm Hubei will cooperate
in multiple production areas such as pharmaceutical raw materials, solid
preparations, and large infusions. Furthermore, the two companies will work
together in pharmaceutical production and circulation.
The general manager of Yangtze Investment states
that Guangji Pharmaceutical is the only state-owned listed pharmaceutical
company in Hubei, and Sinopharm Hubei is a core enterprise established by
Sinopharm Group. The cooperation of the two companies is an active attempt by
both companies to set first-class standards and strengthen exchanges with other
national enterprises.
The general manager expressed hopes that the
two parties can uphold the principle of "mutually beneficial common
development" and work together to develop new technologies, new industries,
new formats, and new models. The manager ultimately hopes to build up enough
manufacturing power for Hubei to become a strong medical province that can make
greater contributions to China.
For more information, please check our Vitamins
China E-News.
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