Tong Ren Tang halts acquisition, reverses 52m yuan deal

Beijing Tong Ren Tang announced its subsidiary Beijing Tong Ren Tang Commercial Investment Group has halted its acquisition of 51% equity in Honghui Pharmaceutical.

Under a new implementation agreement, Honghui Technology will refund the 52.3 million yuan deposit paid by Tong Ren Tang Commercial within five working days. Tong Ren Tang Commercial will return the 51% equity interest to the original shareholder.

Honghui Pharmaceutical must remove "Tong Ren Tang" from its name by July 31, 2025.