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

FDX Earnings: FedEx Q1 adjusted earnings drop; revenue up 5%

Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in first-quarter adjusted earnings, despite an increase in revenues. The company also provided guidance for fiscal 2023. Net income, adjusted

Key highlights from Darden Restaurants (DRI) Q1 2023 earnings results

Darden Restaurants, Inc. (NYSE:DRI) reported first quarter 2023 earnings results. Total sales increased 6.1% year-over-year to $2.4 billion, driven by blended same-restaurant sales growth of 4.2%. Net earnings amounted to

ACN Earnings: Key quarterly highlights from Accenture’s Q4 2022 financial results

Accenture (NYSE: ACN) reported fourth quarter 2022 earnings results today. Total revenues were $15.4 billion, up 15% year-over-year in US dollars and up 22.4% in local currency. Net income attributable

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top