Its drugs are fried to thousands of yuan a pill, known as “Maotai in medicine”. After the share price has just reached a record high, the controlling shareholder Jiulongjiang group is going to reduce its holdings and cash out.
Pian Zihuang (600436) announced on the evening of July 21 that Jiulongjiang group, the controlling shareholder of the company, due to its own capital needs, plans to reduce its holding of the company’s shares by means of centralized competitive trading within three months after 15 trading days from the disclosure date of this announcement, and the total number of shares does not exceed 1% of the total share capital of the company, that is, no more than 6033172 shares.
Jiulongjiang group is a wholly state-owned enterprise under the state owned assets supervision and Administration Commission of Zhangzhou city. It has two listed companies, one of which is Pianzihuang, and the other is Longxi shares (600592). Up to now, Jiulongjiang group holds 57.92% of the shares of Pianzihuang, which is still the controlling shareholder after the planned reduction of 1%. This reduction is the first time that Pian Zi Huang has reduced its holdings since its listing.
According to the latest closing price, the reduction can cash out nearly 3 billion yuan. It is worth noting that the reduction plan of Jiulongjiang group does not follow the practice of block trading, but directly through the secondary market.
The share price has just hit a record high
Pianzihuang, the name of the company is Zhangzhou Pianzihuang Pharmaceutical Co., Ltd., which is a time-honored enterprise in China. It was restructured and established in December 1999 by the former Zhangzhou pharmaceutical factory, which was founded in 1956. In June 2003, Pianzihuang pharmaceutical stock was listed on the main board of Shanghai Stock Exchange. The core products of the company are Pianzihuang series, including Pianzihuang, Pianzihuang capsules, compound Pianzihuang ointment, compound Pianzihuang buccal tablets, etc.
At the beginning of 2020, the share price of Pian Zihuang is just over 100 yuan. As of July 21, the closing price of Pianzihuang was 489.76 yuan per share. In just one and a half years, the share price has quadrupled, and the total market value has reached 295.5 billion yuan, which can be called “Maotai in the field of traditional Chinese medicine”! At present, Pianzihuang and Yunnan Baiyao are the only two 100 billion Chinese Medicine Listed Companies in the A-share market.