According to Zhitong Financial App, Baosha Development (01069) announced that on August 16, 2023, the company (as the buyer) and the seller, Shaanxi Jiashisen Pharmaceutical Investment Co., Ltd. entered into an equity transaction agreement to acquire 52% of the shares in Liuba County Jiashisen Traditional Chinese Medicine Comprehensive Development Co., Ltd. from the seller at a cost of RMB 7.128.67 million.
According to reports, the main business of the target company includes processing and distribution of a series of American ginseng products. Upon completion, the company will hold 52% of the shares in the target company, which will become a non-wholly owned subsidiary of the company.