PKU International Healthcare Group Southwest Pharmaceutical Co., Ltd. known also as Southwest Synthetic Pharmaceuticals, is an indirect subsidiary of Peking University since 2003. In 2013 the company was renamed into PKU Healthcare Corp., Ltd..
Foundation (1993–2003)
Southwest Synthetic Pharmaceutical Co., Ltd. was incorporated on 18 May 1993 as a subsidiary of Southwest Synthetic Pharmaceutical Factory, which was owned by. The factory itself was founded in 1965. Due to financial difficulties, 1.26% shares of the listed company was acquired by Sichuan No.2 Electric Power Construction in 2001 from the parent entity.
Acquired by Founder Group (2003–)
In 2002 47.31% shares of the listed company was entrusted to a private company by the parent. In June 2003, China Huarong Asset Management, the state-owned bad bank, made a public offer to sell the credit of themselves to the parent entity ; On 4 September the parent entity was re-incorporated as Chongqing Southwest Synthetic Pharmaceutical Co., Ltd., with part of the debt was converted into share capital, making state-owned China Development Bank owned 39.80% share capital as second largest shareholder. On 1 July of the same year, the management of the intermediate parent company was also entrusted to state-owned PKU Founder Group, the aforementioned trust contract regarding the shares of the listed company, that was signed with aforementioned private company, was also canceled on the same day; On 29 September, an agreement was formed between Founder Group, China Development Bank and the ultimate owner, which Founder Group would acquired a majority stake in the intermediate parent company by subscription of new share capital of, as well as withdrew of China Development Bank by selling the 39.80% share capital to the original major shareholder, making Founder Group was the indirect major shareholder of the listed company for 47.31% share. Since acquired by PKU Founder Group, Southwest Synthetic Pharmaceutical received assets from the parent company and renamed to PKU Healthcare in 2013.
Shareholders
As at 31 December 2015, PKU Healthcare Group owned 40.38% shares of PKU Healthcare directly and indirectly as the largest shareholder; PKU Founder Group was the parent company of PKU Healthcare Group for 85.60%, with the rest were owned by Peking University ; Peking University's wholly owned subsidiary: Peking University Asset Management owned 70% stake of PKU Founder Group; as Peking University was supervised by the Ministry of Education, PKU Healthcare was considered a state-owned enterprise in a border definition; Peking University Asset Management also owned an additional 0.36% via another subsidiary. The second largest shareholder was China Securities Finance for 1.94% shares. PKU Healthcare Group owned 51.95% shares at 31 December 2012. During 2013 6.71% shares were sold to Beijing Zenith Holdings a private company that was linked to Guo Wengui for and an additional 5.03% shares were sold to Peking University Education Foundation. However, it was later found that the private company did not pay PKU Healthcare Group due to its financial difficulty. Instead, the company signed an agreement with PKU Resources Group Holdings, sister company of PKU Healthcare Group to hold the shares of the listed company as a proxy of PKU Resources Group Holdings. All 3 companies were fined by China Securities Regulatory Commission in 2016. Zenith Holdings also sold the shares in 2014 and in 2015; at the same time PKU Healthcare Group announced that the company would bought back not more than 2% shares in November 2014 from public market. In July 2015 0.18% shares were bought for each. In October PKU Healthcare announced that the share buy back program was completed.
