In the evening of December 20, LBX Pharmacy released an announcement that it intends to acquire 100% of Chifeng Renchuan Pharmacy Chain Company Limited’s equity, which is indirectly held by three companies including Shanghai Zhanzhen, with RMB 680 million yuan (USD $104 million)

of its own funds. The announcement shows that Chifeng Renchuan Pharmacy now has 235 directly operated stores and 52 franchised stores, mainly in the Inner Mongolia region. From January to November this year, its revenue was RMB 401 million yuan (USD $61 million) and net profit was RMB 32.59 million yuan (USD $5 million). Till the end of the third quarter of 2020, LBX Pharmacy had 4,636 directly operated stores and 1,541 franchised stores. The reporter noted that, in recent years, the company has continued to expand in Central China, East China, Northwest China and other advantageous regions through the “self-built + M&A + franchise + alliance” mode. (Source:

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