Qi Zheng Medicine subsidiary 50 million Yuan set up Medlar company

NetEase Finance March 3 News of exotic Tibetan medicine 3rd Evening release announcement, wholly-owned subsidiary Longxi Medicinal Herbs Co., Ltd. and Ningxia Wolfberry Enterprises (group) company, Beijing Asia-Pacific Tianyu Graphic Design Studio tripartite joint contribution of 50 million yuan, the formation of "Ningxia Qi is sha Hu Medlar Industry Co., Ltd.". Longxi Medicinal Herbs Limited liability company with its own cash contribution of 27.5 million yuan, accounting for Ningxia qi is sha Hu Medlar Industry Co., Ltd. Total equity 55% of the equity, Ningxia Wolfberry Enterprises (group) company cash contribution of 19.9 million yuan, accounting for its 39.8% equity; Beijing Asia-Pacific Tianyu Graphic Design studio funded 2.6 million yuan,　　Account for 5.2% of its equity. Qi Zheng Tibetan Medicine said that the purpose of this investment is to cooperate with the company's development strategy, to build the source of medicinal resources advantage, cultivate in the development of Lycium barbarum authentic varieties, large-scale cultivation, standardization of production, intensive management, product development, marketing and other resources, focus on the advantages of investment, will be "　　Ningxia Qi-sha Hu Medlar Industry Co., Ltd. "to become China's most advantageous source of authentic Chinese wolfberry brand suppliers." Earlier, February 21, Qi is the Tibetan medicine released 2010 performance letters, because the traditional advantages of products and new business Department of the steady growth of the company in 2010 to achieve a net profit of 170 million yuan, an increase of 6.01%.　　Operating income of 524 million yuan, an increase of 11.58%, earnings per share of 0.42 yuan, flat with the previous year. Qi is Tibetan medicine 3rd concussion lower, closed down 3.34%, reported at 23.73 Yuan.