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Kaixinren And Nikko Cordial Securities Sign Agreement

This article was originally published in PharmAsia News

Executive Summary

After receiving 100 million yuan in funding from Nikko Antfactory at the beginning of this year, Kaixinren chain drugstore has signed an agreement based on adjustable evaluation with Nikko Cordial Securities, which controls Nikko Antfactory. Nikko Antfactory will continue to pump $30 million yuan to $50 million yuan into Kaixinren within the next two years, with a goal of Kaixinren getting listed by 2010. Kaixinren has set out a 10-year strategy that includes opening 1,000 shops in three years, then gradually building up to 1,800 stores to become a world-class pharmaceutical corporation. It also aims to hit sales of 10 billion yuan within five to ten years. (Click here for more - Chinese Language)

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