In May 2016, China Jianyin Investment Ltd. entered exclusive discussions with Oaktree Capital Corporation Limited for the acquisition of SGD Pharma.
In October 2016, China Jianyin Investment Ltd. finished buying controlling stakes in the SGD Project.
JIC will putimplementation the long-term strategy and business plan of SGD Pharma along with SGD Pharmas management for further R&D of high-quality product lines, support important investments in SGD Pharmas industrial facilities for the improvement of production capacity, and drive the development of emerging markets including the Chinese market for the continuous growth of its global business. Meanwhile, JIC will actively give full play to its advantages in laying out global brands, technologies, products and businesses with the purpose to encourage the upgraded development of Chinas pharmaceutical packaging industry.
Since the acquisition, JIC has selected and recruited experts and directors with rich experiences in the sector in which SGD is involved, and has optimized SGDs capital structure to reduce debt costs, contributing to a steady improvement of SGDs production capacity, attainment of mass production by I-type glass container plants, and 100% customer verification achievement. It also continues to expand new sales markets and acquire new customers throughout the world.
In the first half of 2019, SGD Pharma achieved sales revenue of 170 million euros, an increase of 5.7% over the previous year, and further increased its global market share; EBITDA was 47.7 million euros, an increase of 30.3% over the previous year; net attribution profit was 18.5 million euros, an increase of 263% over the previous year. The China business also grew rapidly, contributing 40% to the total revenue growth.