August 23 – Hubei Guangji Pharmaceutical (000952.SZ) plans to sell a 96.4-percent interest in Fulijie Limited for 17.2 million yuan to natural person Guo Qinghu, possibly generating a return of 2.2 million yuan, reports yicai.com, citing a company filing. Proceeds will be used to supplement operating cash flows.

The source did not disclose Guo’s relations to either company.

Fulijie engages in the research, production, and sales of makeup and toothpaste. As of December 31 2010, it had total assets of 19.82 million yuan and net assets of 15.59 million yuan. It earned profits of 23.59 million yuan in first quarter of 2011.

Source:CapitalVue