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Pan Hong Holdings Group’s China Pharmaceutical Industry Foray

Pan Hong Holdings Group announced that Sino Harbour Bio Technology (SH BioTech HK), a wholly and indirectly owned subsidiary of Sino Harbour Holdings Group which is 75 percent owned by the group, has entered into a strategic cooperation framework agreement with Zhejiang University of Technology Assets Operation (Uni Assets) and Irvine Pharmaceutical Services.

According to the agreement, all parties will leverage on their respective expertise to enter into the pharmaceutical inspection industry and set up a new company in the PRC, which will have a registered capital of Rmb64 million, of which SH BioTech HK and Uni Assets will inject a capital of Rmb33.28 million and Rmb12.8 million for a 52 percent and 20 percent equity stake respectively.

The new company will also develop a trading platform to assist pharmaceutical products from the PRC to enter markets in the United States of Amercia, Canada and European Union. The cooperation is believed to be able to tap on increasing gross national income, health consciousness of the people of PRC and huge market demand and potential in the medical treatment industry is expected to grow rapidly.



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