Zhitong Finance APP Newssteamofcrypto, Tianjin Development (00882) announced that Lisheng Pharmaceutical, an indirect non-wholly owned subsidiary of the company, plans to sell all of its 24% of its shares in Tianbian, Tianjin through a public listing processsteamofcrypto.65% equity. The lowest listing price for potential sales is RMB 120 million.
Tianjin Tianbian is mainly engaged in the production, processing and sales of Chinese and Western medicines, chemicals, raw materials, drug trials, biopharmaceuticals and related services, as well as providing medical information consultation.
The potential sale is in line with Lisheng Pharmaceutical's overall strategic plan. The Board believes that the potential disposal, if implemented, will enhance the operating efficiency of the Group's assets, optimize the Group's resource allocation and enhance the Group's cash flow.
