Lianhuan Subsidiary Bags Buildings, Land Use Rights for Pharmaceutical Facility

MT Newswires Live09-15

Jiangsu Lianhuan Pharmaceutical (SHA:600513) subsidiary Lianhuan Pharmaceutical (Anqing) purchased buildings and land use rights from controlling shareholder Jiangsu Lianhuan Pharmaceutical Group for 74.5 million yuan.

Shares fell 5% at close of Monday trade.

The properties include 11 buildings and seven structures housing a pharmaceutical production complex, preparation workshop, warehouses and a fine baking and bagging workshop. They also include tank farms, pipes, walls, and roads, according to a Saturday filing with the Shanghai bourse.

The land use rights involve a parcel of industrial land with an area of 26,925.78 square meters.

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