Founded on March 9, 2000, 999 Group Corporation’s core business is located in the field of self-medication and traditional Chinese prescription medicine, and, in recent years, it has been making efforts in the field of health products.
On December 15, 999 Group Corporation announced that it intends to use RMB 190 million yuan (USD $29 million) to acquire 100% of the equity of CRCare (Shenzhen) Pharmaceutical Company Limited. However, both parties to this transaction are enterprises controlled by the same indirect controlling shareholder and the same beneficial owner, meaning that this acquisition constitutes a connected transaction, which can be viewed as a business realignment. Therefore, 999 Group Corporation is actually focusing on its online retail through fully utilizing Shenzhen CRCare’s online retail operation experience in traditional Chinese medicine health products. (Source: Shuzhengkangxun))