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China Resources Pharmaceutical Group Ltd. ( (HK:3320) ) has provided an update.
China Resources Pharmaceutical Group Ltd. has announced the formation of a new fund with a proposed size of RMB500 million, aimed at investing in high-growth enterprises in synthetic biology, innovative drugs, and biotechnology. The company’s subsidiaries, CR Pharm (Shantou), CR Double-Crane, and CR Pharmaceutical Investment, will collectively contribute RMB123 million, representing 24.6% of the total capital commitment. The fund will not be considered a subsidiary of the company, and Shenzhen CR Capital will manage it. This move is a connected transaction under the Hong Kong Listing Rules, due to the involvement of Hanwei Huayou Shantou, a connected person of the company.
The most recent analyst rating on (HK:3320) stock is a Hold with a HK$5.50 price target. To see the full list of analyst forecasts on China Resources Pharmaceutical Group Ltd. stock, see the HK:3320 Stock Forecast page.
More about China Resources Pharmaceutical Group Ltd.
China Resources Pharmaceutical Group Ltd. operates in the pharmaceutical industry, focusing on the development, manufacturing, and distribution of pharmaceutical products. The company is involved in various sectors including synthetic biology, innovative drugs, and biotechnology, aiming to invest in high-growth enterprises within these fields.
Average Trading Volume: 16,458,823
Technical Sentiment Signal: Sell
Current Market Cap: HK$31.35B
Find detailed analytics on 3320 stock on TipRanks’ Stock Analysis page.