Zhejiang Xianju Pharmaceutical Associate to Exit Microcredit Business, Cut Capital
Zhejiang Xianju Pharmaceutical (SHE:002332) said 30%-owned associate Xianju Hongju Microcredit plans to exit the microcredit industry and cut registered capital by 104.5 million yuan proportionally.Upon completion, Hongju Microcredit's registered capital will drop to 500,000 yuan, according to a Friday filing with the Shenzhen bourse.Shares of the pharmaceutical company closed 2% lower Friday.