China Meheco to Acquire Beijing Holley Jiuzhou      

On March 5th, China Meheco Corporation (SH: 600056) entered an equity transfer agreement with Chongqing Holley Pharmaceutical Co., Ltd. (SZ: 000607) and Zhejiang Holley Medicine Investment Group Co., Ltd., under which China Meheco will purchase a 100% interest in Beijing Holley Jiuzhou Pharmaceutical Co., Ltd. from Chongqing Holley and Zhejiang Holley for an aggregate consideration of RMB80 million.
  Beijing Holley Jiuzhou now is an 88.24: 11.76 joint venture between Chongqing Holley and Zhejiang Holley. It engages in the sales of medicines formulation and Chinese medicines, machines for medicine and healthcare products as well as information consulting services. As of March 2008, the audited total assets and net assests were RMB146.9 million and RMB48.1 million respectively.
   With acquisition, China Meheco intends to expand its hospital medicine sales network.