Gushengtang Expands with New Acquisition

Gushengtang Holdings Limited (HK:2273) has released an update.

Gushengtang Holdings Limited has announced the acquisition of 100% equity interest in Hunan Mingyuantang, a company specializing in traditional Chinese medicine services and pharmaceutical retail in Hunan Province. The deal, valued at RMB18,000,000, is in line with Gushengtang’s strategy to expand its offline medical network and is expected to enhance their market share while synergizing with their existing offline and online healthcare platforms. The acquisition will result in Hunan Mingyuantang becoming an indirect wholly-owned subsidiary with its financials consolidated into Gushengtang’s group statements.

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