Zhitong Finance App News, Weikang Pharmaceutical (300878.SZ) announced that Zhejiang Weikang Pharmaceutical Commercial Co., Ltd. (“Weikang Commercial”), a wholly-owned subsidiary of the company, signed a “Letter of Intent to Acquire Shares” with Zhejiang Kangbaijia Pharmacy Co., Ltd. (“Zhejiang Kangbaijia”) on May 27, 2024. Weikang Commercial plans to sell 100% of its shares in Zhejiang Weikang Pharmaceutical Retail Co., Ltd. (“Weikang Retail”) and Zhejiang Weikang Pharmacy Co., Ltd. (“Weikang Pharmacy”).

According to reports, the company's industry is pharmaceutical manufacturing, and its main business focuses on R&D, production and sales of modern traditional Chinese medicine and Western medicine. Currently, the target company's main business is retail chain business, that is, purchasing pharmaceuticals, medical devices, etc. from upstream companies and selling them to end consumers through retail channels. Through this equity sale, the company will be able to concentrate superior resources to focus on the pharmaceutical manufacturing industry and continue to promote the collaborative development of modern traditional Chinese medicine and Western medicine.