Sinopharm Group, the parent company Traditional Chinese Medicine, issued a privatization announcement, asking securities firms and lawyers to write reports and submit documents to Chinese government Authorities for approval. The reason for the failure of privatization was that it failed to obtain approval from the Chinese government within 8 months time frame. The China Authority required the company to provide additional explanations. Sinopharm did not extend privatization time.
The failure of Sinopharm's privatization highlights the weakness of Sinopharm, a large state-owned enterprise, low work efficiency, unstable performance, and irresponsible work, which damages the company's reputation. Traditional Chinese Medicine, such a famous brand, this signboard is valuable. What a pity!
I was trapped in private offer voalitility, 25k HKD paper loss, I may carry it for years. Prices may take years to go back a normal fair value. The management team is not worth to trust. Retail investors should go away from it.
I don't do trading transaction normally. Lessons from Traditional Chinese Medicine is that don't speculate in the stock market.
I am sorry if my post mislead your decisions before on$TRAD CHI MED(00570)$
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