Zhejiang Hisun Pharmaceutical Co., Ltd. (SHSE: 600267) revealed that controlling shareholder Zhejiang Hisun Group Co., Ltd. planned to offer medium term notes worth CNY 400 million to the company and related affiliates for replenishing working capitals and repaying bank loans. Hisun Group will first offer CNY 230 million from financed money to the listed arm and make arrangements for additional CNY 170 million depending on capital demand of the company and related affiliates.
So far, Hisun Pharmaceutical has recorded market cap surpassing CNY 12 billion. Controlling shareholder holds 321 million shares in the listed arm, representing 38.20% of the share capital. By the end of 2012, Hisun Group had had total assets breaking CNY 11.08 billion.
2012 annual report from Hisun Pharmaceutical revealed net profit of CNY 301.3 million for the company in the reporting period while its expenditure on research and development reached up to CNY 346.3 million, rising 45.33% year on year
