This cooperation is conducive to fully integrating the resource, advantages and professional capabilities of both parties.
China CAMC Engineering Co., Ltd. (CAMCE) (002051:SZ) announced that recently, the company and China Sinopharm International Corporation signed a strategic cooperation agreement on the establishment of a partnership between the two parties.
According to the agreement, the two parties will cooperate in three areas. Firstly, the two parties will strengthen cooperation in the international market and jointly build overseas medical engineering projects.
Secondly, they will make use of their extensive layout and differentiated marketing channels in overseas markets, and integrate their core advantages through "jointly going overseas" to develop overseas medical and pharmaceutical businesses together.
Thirdly, the two sides will work together to carry out cooperation in Sinopharm international healthcare projects, industrial bases and duty-free shop construction.
Relying on the fast and efficient overseas network layout, CAMCE would give full play to its professional advantages, project management capabilities and diversified financing capabilities. While Sinopharm International would make full use of its industrial advantages in overseas medical and pharmaceutical projects, medical service industry, life and health industry and tax-free business.
Founded in 2001, CAMCE is a group company affiliated with China National Machinery Industry Corporation (SINOMACH). Since its establishment, the company has actively implemented the Belt and Road initiative and established more than 70 overseas offices with hundreds of core projects completed. The business scope covers more than 60 countries and regions on five continents.
Sinopharm International is a wholly-owned subsidiary of Sinopharm. Public information shows that the registered capital of the company is CNY 3.7 billion (USD 544.27 million). Its main business covers international pharmaceutical trade, overseas pharmaceutical investment, international medical cooperation, and medical and health services.
CAMCE closed 2.70% lower at CNY 9.01 apiece Monday on Shenzhen Stock Exchange, with a market value of CNY 11.15 billion.