On May 18, Jiangzhong Pharmaceutical announced that the company's actual controller, Jiangxi SASAC and CR Pharm (China Resources Pharmaceutical Group), signed the “Cooperation Agreement on Strategic Restructuring of Jiangzhong Group by China Resources Pharmaceutical” in which China Resources Pharmaceutical Group holds 51 percent or more of Jiangzhong Group’s equity, purchasing partial equity in Jiangzhong Group and increasing Jiangzhong Group’s capital in cash or assets.

The Jiangzhong Pharmaceutical 2017 annual report reveals its annual revenue was 1.76 billion yuan, up 11.83 percent year-on-year. Its non-prescription drug revenue was 1.457 billion yuan, accounting for 83.4 percent of the total. Lactic acid bacteria tablets were a key product, achieving sales of RMB 206 million, a year-on-year increase of 52.90 percent. At the same time, the health-products business also achieved growth, and the annual operating revenue was 276 million yuan, a year-on-year increase of 14.82 percent.

As a company integrating R&D, manufacturing, and distribution of pharmaceuticals, China Resources Pharmaceutical currently is in the leading position in the Chinese pharmaceutical industry. Currently, China Resources Pharmaceuticals includes several listed companies. After gaining control of the Jiangzhong Group, China Resources Pharmaceuticals, which is listed on the Hong Kong Stock Exchange, will have four A-share listed companies, namely China Resources Sanjiu, China Resources Double-Crane, Dong-E E-jiao, and Jiangzhong Pharmaceutical.

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