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jinfu capsule order increase

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Source: Kingworld medicine
Date:2017.09.29

Kingworld Medicines Group Limited (“Kingworld Medicines” or the “Group”, stock code: 1110), a distributor of products of imported renowned pharmaceutical and healthcare brands and medical devices manufacturer in the PRC, announced that the annual cap in the distribution agreement signed between its wholly-owned subsidiary Kingworld Medicine Healthcare Limited (“HK Kingworld”) and connected company Yuen Tai Pharmaceuticals Limited (Yuen Tai) has been markedly raised and HK Kingworld shall continue to act as Yuen Tai’s exclusive distributor in Greater China valid till 31 December 2017. Key points of the announcement as follows:

 

Raising proposed annual cap of continuing connected transactions

Significant increase in Fengbao Jianfu Capsule orders

l   The proposed annual cap in the Master Distribution Agreement between the Group and Yuen Tai for the year ending 31 December 2017 is raised from HK$2,260,000 to HK$6,320,000.

l   The higher proposed annual cap of continuing connected transactions is commanded mainly by the continuous increase in demand in Fengbao Jianfu Capsule (鳳寶牌健婦膠囊) and consequently additional orders.

 

Act as exclusive distributor in Greater China

Long term stable business relationship can enhance competitive strengths

l   The Group will be the exclusive distributor of Fengbao Jianfu Capsule manufactured by Yuen Tai in Greater China, with pricing of the product in accordance with prevailing commercial terms.

l   Long term stable relationship between the Group and Yuen Tai ensures stable product supply.

l   The Group will be able to enjoy cost advantage and be more competiveness, and also be spared from competition with other same product distributors in the market.

 

About Fengbao Jianfu Capsule

Fengbao Jianfu Capsule (previously named “Jianfu Pills”) is manufactured by Yuen Tai Pharmaceuticals Limited in Hong Kong, based on a scientific formula and with quality ingredients, helpful for improving spleen and kidney functions and hormonal balance for women. It has been clinical tested by Center for Chinese Medicine R&D, the Hong Hong University of Science and Technology, and recognised by authoritative entities for being effective and safe.

 

To read the full announcement, please click the link below:

http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0928/LTN20170928904.pdf