After the privatization of Trad Chi Med (00570), it has been continuously declining. This morning, it rebounded by more than 8% in early trading, rising by 7.66% as of the time of writing, at HKD 2.39, with a turnover of 0.218 billion Hong Kong dollars.
According to the Securities Times APP, after the privatization of Trad Chi Med (00570), it has been continuously declining. This morning, it rebounded by more than 8% in early trading, rising by 7.66% as of the time of writing, at HKD 2.39, with a turnover of 0.218 billion Hong Kong dollars.
On the news front, in mid-October this year, Trad Chi Med announced that Guoyao Group Co., Ltd. has not yet met the precondition of privatizing the company at HKD 4.6 per share and recommended the expiration date of October 18th. It is reported that in February this year, Trad Chi Med announced that Guoyao Group plans to privatize Trad Chi Med at a price of HKD 4.6 per share. Trad Chi Med believes that the limited trading volume in the secondary market has restricted its function as a financing platform for a listed company, leading to this privatization.
It is worth noting that in a recent announcement of the 23rd meeting of the 10th Board of Directors of Chongqing Taiji Industry, Mr. Yu Min was elected as the Chairman of the company, and Mr. Yu Zongbin was appointed as the General Manager. Mr. Yu Min currently serves as a director of Trad Chi Med Ltd., Party Secretary, Chairman, and General Manager of Chongqing Taiji Industry Co., Ltd., Party Secretary, and Director, and General Manager of Chongqing Taiji Industry Group Co., Ltd. Huafu Securities stated that with the personnel changes in place, the logic of state reform continues to evolve. It is reported that over the past 10 years, Guoyao Group has continuously carried out restructuring and integration, acquiring YingTian Medicine, Tongjitang, Tianjiang Pharmaceutical, and Yifang Pharmaceutical from 2013 to 2015; and strategically restructured Chongqing Taiji Industry in 2021.