$174 million!

In recent years, affected by multiple factors such as pharmaceutical policies and market competition, the competition in the pharmaceutical industry has intensified.
In this context, pharmaceutical companies continue to sell non-core assets such as products and subsidiaries
.
Shortly after the opening of 2022, Renfu Medicine announced that it will sell non-main business assets again
.
Renfu Pharmaceutical announced on January 4 that its wholly-owned subsidiary Renfu America and other shareholders of Hande Renfu signed the Equity Acquisition Agreement with Rhea Parent, and planned to transfer 100% of Hande Renfu to Rhea Parent.
, of which Renfu America will transfer its 24.
57% stake in Hande Renfu
.
After the completion of this transaction, the company and its subsidiaries will no longer hold the equity of Hande Renfu
.
The announcement shows that the transaction price is about 174 million US dollars.
After the sale of Hande Renfu’s equity, it is expected to bring investment income of more than 500 million yuan to the company in 2022
.
Regarding the proceeds from the sale, Renfu Pharmaceutical stated that the proceeds will be used for the company's production and operation activities, including but not limited to repayment of interest-bearing liabilities and supplementary working capital
.
At the same time, this transaction will help Renfu Pharma to further optimize its asset-liability structure and concentrate resources to develop segmented areas with competitive advantages
.
According to the data, Renfu Medicine was established in 1993 and listed on the Shanghai Stock Exchange in 1997
.
The company has a prominent position in domestic anesthetics, fertility regulators, Uyghur medicines and other sub-sectors; at the same time, it actively develops the pharmaceutical business, steadily promotes the process of internationalization, and has achieved global R&D, marketing and sales in the United States and Africa.
Industrial layout
.
In the past, Renfu Medicine was keen to do "additions".
For example, in 2017, the company repurchased 54% of the shares of Jisbon, which had been sold in 2006, for US$120 million to realize its position in the field of gender health
.
In the 2017 annual report, the company proposed a strategy of "nuclearization", that is, subtraction to focus on core business
.
By 2020, Renfu Medicine will continue to sell, including the sale of Jissbon and the sale of 70% equity of Sichuan Renfu, in order to repay debts and reduce debt pressure.

.
On November 19, 2021, Renfu Medicine announced that it had signed a "Share Transfer Agreement" with Anda North America, and planned to transfer 2.
5247% of Huatai Insurance to Anda North America at a transfer price of 1.
026 billion yuan
.
After the transaction is completed, Renfu Pharmaceutical no longer holds shares in Huatai Insurance
.
The announcement shows that Anda North America is an insurance group company registered in Delaware, the United States, with many insurance and reinsurance companies around the world.
The company is developing well and has continued to make profits in the past three years
.
As of December 31, 2020, Anda North America's total assets were approximately $55.
9 billion, net assets were approximately $35.
9 billion, operating income in 2020 was approximately $1.
7 billion, and net profit was approximately $1.
4 billion
.
This equity transferor, Fuyao, is also aimed at gathering the core main business
.
According to the third quarterly report of 2021, in the first three quarters of 2021, Renfu Pharmaceutical achieved revenue of 14.
861 billion yuan, which was basically the same as the same period in 2020; realized attributable net profit of 1.
094 billion yuan, a year-on-year increase of 78.
55%
.
Among them, the company's narcotic drug revenue in the first three quarters was about 3.
8 billion yuan, an increase of about 28%
.
From the data, it can be seen that the profitability of Renfu Medicine is gradually recovering, and the anesthesia business maintains a stable growth momentum
.
Affected by the good news of the sale of non-core assets, the stock price of Renfu Pharmaceutical opened higher on January 5, and as of the close, the company's stock price rose 4% against the trend
.