Jiuding Capital Invests 110 Million Yuan in Shanxi Powerdone Pharmaceutics

2010-04-19

After building its pharmaceutical sector professional team and raising successfully its pharmaceutical sector fund, Jiuding Capital Co., Ltd. (Jiuding Capital) started to invest frequently in the pharmaceutical industry. Just after the news that Jiuding Capital invested 34 million yuan in Qili Pharmaceutical, it is disclosed by a related person that Jiuding Capital invested 110 million yuan in Shanxi Powerdone Pharmaceutics and all the fund has been transferred to the account of Shanxi Powerdone.

According to reports, Shanxi Powerdone Pharmaceutics Co., Ltd. is a private pharmaceutical enterprise and ranks in the top 5 of Shanxi pharmaceutical enterprises in comprehensive strengths.

 “Our contact with and investigation into Powerdone Pharmaceutics has started since as early as June 2009. Continuous investigations and negotiations followed, and Jiuding Capital even acted as a shareholder in advance to provide value-added service. During this period lots of discussions were made, and finally the agreement was achieved”, Jiuding Capital partner Bo YU said.

 “Actually we are not short of money very much. But the understanding by Jiuding Capital to pharmaceutical industry is very insightful, and the value-added service provided to pharmaceutical enterprises is very systematic”, Chengwei HU, chairman of Shanxi Powerdone Pharmaceutics, said, “after our first face-to-face talk, I handed out “a piece of homework” to Jiuding Capital team: to give professional comments on the investment value of two pharmaceutical projects. It is the professional reply by Jiuding Capital after one week that knocked open the door for us to bring in the strategic investor and formally start the cooperation process between us.”

Both the two sides expressed that as the personnel structure of Jiuding Capital pharmaceutical professional team further consummates, Jiuding Capital will provide great supports for Powerdone Pharmaceutics in capital operation, industry competition, etc., while Powerdone Pharmaceutics will fasten its growth in derivation of industry chain, increase of product types, expansion of production scale, etc., while continuing its previous competitive advantages.