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Modern Chinese Medicine Group Co. Ltd. ( (HK:1643) ) has shared an announcement.
Modern Chinese Medicine Group Co., Ltd. announced plans to use proceeds from a new share subscription for investment and business development, with a focus on acquiring a traditional Chinese medicine manufacturer in Hong Kong. The company aims to enhance its research and development capabilities and expand its sales network. Despite preliminary discussions, no binding agreement has been made, and the company is exploring other opportunities. The company plans to utilize its cash reserves for various strategic initiatives, including establishing a healthcare food factory, setting up a research team, and expanding distribution networks.
More about Modern Chinese Medicine Group Co. Ltd.
Modern Chinese Medicine Group Co., Ltd. operates in the traditional Chinese medicine industry, focusing on the development and distribution of Chinese medicine products. The company is involved in investment and business development within this sector, aiming to expand its market presence in Hong Kong and overseas.
Average Trading Volume: 3,513,600
Technical Sentiment Signal: Sell
Current Market Cap: HK$216M
For a thorough assessment of 1643 stock, go to TipRanks’ Stock Analysis page.