Infinity Group Invests 120 Million RMB in Shijiazhuang Xingbai Pharmaceutical Company Limited, China
By Infinity Group, PRNESunday, February 27, 2011
SHIJIAZHUANG, China, February 28, 2011 - Infinity Group, an RMB fund pioneer and the leader in cross border China
RMB and dollar private equity funds, announced today that it is investing 120
million RMB ($US18 million) in Shijiazhuang Xingbai Pharmaceutical Company
Limited. Four of Infinity's funds - the SJZ fund, the I-China fund, the
Changzhou fund and the Tianjin fund - participated in this investment. The
financing is earmarked to enhance Shijiazhuang Xingbai's bio-tech
capabilities with the goal of better competing on domestic and international
markets. Shijiazhuang Xingbai is planning an IPO in the A-share market in
three years.
Shijiazhuang Xingbai Pharmaceutical Company Limited, established in 2004
in the county of Zhao in SJZ, Hebei province, is China's leading manufacturer
of biological pesticides. Its main products include the original drug
Abamectin, Avermectin and avermectin derivatives. Shijiazhuang Xingbai is an
NDRC (National Development and Reform Commission) approved avermectin
manufacturer.
Dr. Bella Ohana, managing director of life science at Infinity said,
"Infinity highly appreciates the promising future of Shijiazhuang Xingbai's
core business. It is a leader in the bio-pesticides market, which is growing
at a CAGR of 20% annually. Shijiazhuang Xingbai's avermectin products have
low toxicity, high efficiency and rapid degradation. This is in pace with the
development of pesticides being developed both in China and worldwide."
Mr. Amir Gal-Or, managing partner and founder of Infinity stated,
"Shijiazhuang Xingbai's leading position in the pesticide industry is
embodied by four aspects: a strong-willed management team with vision and
foresight, an established leading position in the global avermectin market,
excellent and cost effective research capabilities and a long-established and
well-recognized brand in the global market. As the leading PE fund in Israel,
Infinity will leverage its connections with the various modern
bio-agricultural entities in Israel and use its IP Bank platform to upgrade
Shijiazhuang Xingbai's technology and promote its brand worldwide."
About Infinity Group
Infinity Group is an RMB fund pioneer and the leader in cross border
China RMB and dollar private equity funds. It is also the founder of the
Infinity IP Bank, the hub for IP development and commercialization in China.
Infinity Group currently manages twelve funds, ten in China. Infinity has a
portfolio of 45 companies and has made 22 successful exits. Infinity, which
has the greatest number of RMB funds in China, was founded by the IDB Group
(the largest conglomerate in Israel) and the China Development Bank. Infinity
serves as a bridge for Chinese companies that want to integrate technology
and know-how to compete internationally and non-Chinese companies, with
proven technology, seeking to capitalize on the Chinese market. Sectors of
focus include: medical device, pharma and healthcare services, information
technology, agriculture, materials, as well as water and clean technology and
energy. Recent high profile activities include investments in United Water
Corporation (Shanghai, China) and Weigo (Shangdong, China), as well as exits
from Tegrity, Orsus, FuturaGene and Teledata Networks. Other China-related
exits include Shellcase, Nanomotion, and a partial exit from Digital China.
Infinity has offices in Beijing, Changzhou, Chengdu, Harbin, Hong Kong,
Jining, New York, Ningbo, Shanghai, Shijiazhuang, Suzhou, Tel Aviv and
Tianjin. For more information, please visit www.infinity-equity.com or
please contact Marjie Hadad at marjie.hadad@infinity-equity.com or call
+972-54-536-5220. For Chinese language inquiries, please contact Joey Zhu at
joey.zhu@infinity-equity.com or at +86-13601212411.
For more information please contact Marjie Hadad at marjie.hadad at infinity-equity.com or call +972-54-536-5220. For Chinese language inquiries, please contact Joey Zhu at joey.zhu at infinity-equity.com or at +86-13601212411
Tags: China, February 28, Infinity Group, Shijiazhuang