HKG:0314

Sipai Health to Sell Stake in Pharmacy Operator to Dashenlin Pharmaceutical For RMB 51.7 Million

Sipai Health Technology (HKG:0314) said it agreed to sell its entire stake in a pharmacy operator for 51.7 million yuan to Dashenlin Pharmaceutical Group (SHA:603233), according to a Hong Kong bourse filing Wednesday.Shares of the medical and health services provider fell over 1% in morning trade Thursday.Sipai Zhihe Technology (Guangzhou) currently operates four pharmacies in Beijing and Hubei province, as well as a supply chain business serving pharmacies nationwide.As part of the disposal, Sipai Health will transfer its equity interest in Beijing Renbo Siweite Pharmacy and Beijing Renbo Pharmacy in the target company.Sipai Health said the disposal will help the group to sharpen its strategic focus and improve profitability.