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HONG KONG, Oct 6, 2020 - (ACN Newswire) - Tianda Pharmaceuticals Limited ("Tianda Pharmaceuticals", together with its subsidiaries as the "Group", Stock Code: 455.HK) is pleased to announce that its wholly-owned subsidiary, TDMall (Hong Kong) Limited ("TDMall HK"), has completed the acquisition of 50.1% equity interests in each of Yeung & Young Medicare Centre Limited ("Yeung & Young") and Qi's Living Company Limited ("Qi's Living") at a total consideration of HK$25 million. Yeung & Young is principally engaged in the provision of Chinese medical consultation services, and Qi's Living, a wholly-owned subsidiary of Yeung & Young after restructuring, is principally engaged in the sales of traditional Chinese medicine ("TCM") healthcare products in Hong Kong. Upon completion of the acquisition, Dr. Yeung Ming Ha ("Dr. Yeung"), Founder of Yeung & Young and Qi's Living, will continue to be a Director of both companies for not less than 15 years and will be responsible for managing the daily operation of the two companies to ensure the steady development of the business and sustainable profit growth. In addition to the acquisition, Tianda Pharmaceuticals and Dr. Yeung have established a long-term relationship of cooperation, including Dr. Yeung's appointment as the Chief Operating Officer of TDMall (Group) Limited ("TDMall Group"), the parent company of TDMall HK, for not less than 15 years, to assist Tianda Pharmaceuticals in the development of TDMall HK by leveraging her extensive experience of TCM, personal connections and influence in the TCM industry.
Listed on the Hong Kong Stock Exchange, Tianda Pharmaceuticals is rooted in the Guangdong-Hong Kong-Macao Greater Bay Area, and implements three key development strategies, including "the development of the Chinese medicine business as the foundation, the development of innovative medicines and medical technologies and the development of quality medical and healthcare services". It is committed to becoming a pharmaceutical enterprise with competitive advantages and core competencies in drug R&D and manufacturing, Chinese medical consultation and treatment, medical technology and health management. Tianda Pharmaceuticals forges the entire TCM industrial chain from Chinese medicine practice, Chinese herbal medicine to the application of artificial intelligence in TCM and engages in the supply of Chinese medicinal herbs and the production of TCM decoction pieces. It has also established the "Tianda Standard" to control its TCM quality, and launched TDMall, a modern style Chinese medicine clinic. TDMall adheres to the Chinese medicine philosophy of "a great physician treats an illness before it develops", and always abides by the treatment principle of "medication should be stopped once its efficacy shows and treatment should be centred on the patient". TDMall exercises strict control on the quality of Chinese medicinal materials by complying with the "Tianda Standard". By integrating modern medical science and other innovative technologies, TDMall provides featured specialties, general TCM treatment, health preservation and health management services and establishes personalized systems for disease diagnosis, treatment and prevention along with health preservation, thereby achieving the unification of man and nature of tradition and modernity as well as of prevention and treatment in pursuit of the harmony of man and the universe. TDMall is based in the Guangdong-Hong Kong-Macao Greater Bay Area, seeking to expand nationwide and even globally in the long run. Currently TDMalls have been opened in Zhuhai, Hong Kong and Sydney successively from 2019 onwards. Through leveraging Internet technology, big data, AI and other innovative technologies, it has been constructing a "Cloud TDMall", designed to realize the integration of online and offline Chinese medicine services, remote diagnosis and treatment and joint expert consultation services, to enable the provision of quality, convenient and comprehensive Chinese medicine healthcare services to the public, with an aim of promoting TCM inheritance innovation and development.
Yeung & Young is a Chinese medical institution in Hong Kong. Based on TCM medical theories and empirical science, employing advanced medical technology and equipment and using quality Chinese herbal medicines, it provides high-end and modern Chinese medical services, including Chinese medical consultation, acupuncture, cupping therapy, tui-na, skin and body check, and other health management services. In addition, it is also engaged in the sales of TCM healthcare products through Qi's Living. As a renowned registered Chinese medicine practitioner, Dr. Yeung has gained wide public recognition and media presence for her exquisite medical skills and popular publications relating to Chinese medicine and healthcare. In addition to her clinical work, Dr. Yeung has widely participated in research and development of organic Chinese medicinal skincare products and gained profound knowledge in Chinese medicine dermatology.
The acquisition and the cooperation will bring multiple benefits to Tianda Pharmaceuticals. Firstly, the extensive experience and expertise accumulated by the acquired companies will be conducive to enhancing the business and operational efficiency of TDMall and the performance of the Group's TCM health care service segment. Secondly, Tianda Pharmaceuticals' TCM service portfolio will be further expended. Through the creation of complementary advantages and promotion of synergistic development between the services and products provided by the Group and the acquired companies, the Group's enlarged Chinese medicine service will be able to cover different customer groups. Thirdly, upon Completion, the financial results of the acquired companies will be consolidated into the Group's financial statements, and their ongoing profitability is expected to contribute to the Group's consolidated income and profits, thereby improving its overall financial performance and market capitalization. Fourthly, Dr. Yeung's joining the TDMall Group will bring greater expertise and management experience to the Group, which is believed to bring extensive opportunities for TDMall HK, and facilitate the Group's capturing strategic opportunities in the Guangdong-Hong Kong-Macau Greater Bay Area, giving a strong impetus to the development of the TCM industry and the business of TDMall.
A spokesperson of Tianda Pharmaceuticals commented, "the acquisition and cooperation represent an important step for the Group in the development of the entire TCM industrial chain, laying an important foundation and accumulating necessary experience for the expansion and accelerated development of TDMall in the Greater Bay Area, as well as across China and the world. In addition to endogenous growth, Tianda Pharmaceuticals has attached great importance to exogenous growth, engaging in mergers and acquisitions to acquire successful operating entities, talent and experience in the industry as a way to accelerate the pace of business development, and it will continue to identify relevant opportunities. As Chinese medicine has been gaining more attention across the world, we are optimistic about the prospects of the global development of TCM, and will make short, medium and long term development plans in line with national policies. Step by step, we are heading towards achieving our goal of becoming a leading comprehensive pharmaceutical enterprise."
Media Enquiry
Tianda Pharmaceuticals Limited
Investor Relations Department
Mr John Chong / Ms Michelle Zhou
T: + 852 2545 3313
E: johnchong@tianda.com / michellezhou@tianda.com
Topic: Press release summary
Source: Tianda Pharmaceuticals Limited
Sectors: Healthcare & Pharm
https://www.acnnewswire.com
From the Asia Corporate News Network
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