Guangzhou Pharmaceutical eyes public listing of subsidiaries

At least five subsidiaries affiliated with the Guangzhou Pharmaceutical Holdings Limited, a company that entered the Fortune Global 500 with traditional Chinese medicine as its major business, will go public within the next five years, said a senior company executive.

"Subsidiaries listed on the stock market will be our core forces to drive the company's future development," said Li Chuyuan, chairman of Guangzhou Pharmaceutical Holdings.

The company, headquartered in Guangzhou, the capital of Guangdong province, is China's largest pharmaceutical enterprise and largest traditional Chinese medicine producer. It became the first company to enter the list of the world's top 500 companies with TCM as its major business in early August.

Twelve of the company's TCM subsidiaries are China's time-honored brands, with 10 of them having a history of more than 100 years.

Currently, the enterprise owns a listed company – the Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited, and more than 30 subsidiaries with core business ranging from TCM, big health and commerce to medical treatment.

Guangzhou Baiyunshan Pharmaceutical Holdings achieved dramatic growth in operating revenue of 36.1 billion yuan ($5.57 billion) in the first half of 2021, a year-on-year increase of 18.57 percent, according to the company's half-a-year financial report.

Guangzhou Pharmaceuticals Co Ltd, a subsidiary with the Guangzhou Baiyunshan Pharmaceutical Holdings, is expected to be listed in Hong Kong within this year, after it received approval from China Securities Regulatory Commission recently. "Launching initial public offering in the overseas stock market is part of our strategies of global business expansion," Li said.