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Total capital raised from this infusion will be used for the company's core working capital supplement. In the near future, this move is expected to help Yunnan Baiyao Group enlarge its sales and profit, extend reaches to new markets, as well as further relieve its financial cost and risk pressure.
Apart from chemical pharmaceuticals, Yunnan Baiyao Group, lying in the southwestern Chinese city of Kunming, Yunnan Province, specializes in production of pharmaceutical ingredients, patent TCM (traditional Chinese medicine), biopharmaceuticals, health products, and cosmeceuticals.
Yunnan Pharmaceutical, as Yunnan's sole company required to reserve pharmaceuticals for the local government, bends itself to selling drugs and medical equipment, and its sales network has covered 16 provinces, municipalities, and autonomous regions across China. By now, total assets of the company has exceeded CNY 1 billion.
Source: www.gmzy.net.cn (January 08, 2009)
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