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Kangmei Pharma's ginseng industrial park starts operation

Nov. 28, 2012 (China Knowledge) - Kangmei Pharmaceutical Co Ltd<600518>, which is primarily engaged in the manufacture and sale of pharmaceuticals and medical devices, has said its ginseng industrial park put into operation in Tonghua, Jilin Province, according to a statement filed with Shanghai Stock Exchange.

With a total investment of RMB 480 million, the park will have an annual ginseng output capacity of 4,000 metric tons, with sales revenue of nearly RMB 1.7 billion.

Meanwhile, in another statement, the Shanghai listed company said its controlling shareholder, Puning Kangmei Industry Co Ltd, had acquired 2.54 million of A-shares between Nov 21, 2011 and Nov 22, 2012.

In the first nine months of this year, Kangmei Pharmaceutical realized RMB 7.9 billion in operation revenue, while its net profit for the period hit RMB 1.01 billion.

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