Zhejiang Xianju Pharmaceutical (SHE:002332) said 30%-owned associate Xianju Hongju Microcredit plans to exit the microcredit industry and cut registered capital by 104.5 million yuan proportionally.
Upon completion, Hongju Microcredit's registered capital will drop to 500,000 yuan, according to a Friday filing with the Shenzhen bourse.
Shares of the pharmaceutical company closed 2% lower Friday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.