On Jan. 16th, China National Medicines Corporation Ltd., a listed subsidiary of SinoPharm published a notice that its biggest shareholder SinoPharm had completed its reform of equity diversification and changed from a wholly state-owned company to be a jointly held by SASAC, SDIC and China Reform Holding Ltd..
It is one of the important goals of state-owned company reform to push forward equity diversification among central SOEs. SinoPharm’s reform this time was one of the first trial of equity diversification among central SOEs.
SDIC is the largest state-owned investment holding company in China and is one of the pilot company for state-owned asset reform designated by SASAC. Its combined revenue in 2018 is 135.8 billion RMB yuan, with a profit of 19.3 billion RMB yuan and a total asset of 584 billion RMB yuan.
SinoPharm is large company in pharmaceutical health industry and directly under the management of SASAC. It has over 1000 subsidiaries and 6 listed subsidiaries.