Categories Retail, U.S. Markets News
Deal: NF Energy Saving Corp plans to acquire Boqi Zhengji Pharmacy Chain
NF Energy Saving Corp (Nasdaq: BIMI) on Tuesday announced that it plans to buy China-based Boqi Zhengji Pharmacy Chain Co. The latter has over 300 stores, including directly operated stores and franchisees.
According to NF Energy Saving Corp, “the transaction is at an advanced negotiations stage and a definitive agreement is expected to be reached shortly.”
The deal would be subject to standard approvals and conditions. According to the Nasdaq-listed firm, it intends to operate Boqi Zhengji Pharmacy as a wholly-owned unit led by its existing management team.
NF Energy Saving Corp CEO Yongquan Bi weighed in, “Boqi Zhengji Pharmacy’s volume of business, large customer resources and talented team will be integrated with the core competitiveness of BIMI, effectively promoting our rapid development of a medical service chain and improving our renewed production and marketing efforts.”
“I am confident that Boqi Zhengji Pharmacy will become an important component of the Company’s new robust health strategy,” he added.
According to Boqi Zhengji Pharmacy, it expects to expand its offerings landscape through the deal with NF Energy Saving Corp. “After becoming part of BIMI, we will be able to expand the supply of medium and high-end products and services, achieve more effective matching of supply and demand and increase profitability,” a Boqi Zhengji Pharmacy representative said in a statement.
Earnings Calendar: Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!
Most Popular
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
Key highlights from Exxon Mobil Corporation’s (XOM) Q3 2024 earnings results
Exxon Mobil Corporation (NYSE: XOM) reported its third quarter 2024 earnings results today. Total revenues and other income remained relatively flat at $90 billion compared to the same period a
AAPL Earnings: Apple Q4 2024 sales rise 6% YoY, beat estimates
Apple Inc. (NASDAQ: AAPL) reported an increase in revenues for the fourth quarter of 2024. The top line came in above estimates. The gadget giant generated revenues of $94.9 billion
Comments