Guangji Mengzhou has completed maintenance and resumed production 10-11-2021

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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