April 19, 2017 / 11:54 AM / 4 months ago

BRIEF-Kangmei Pharmaceutical's 2016 net profit up, sells two land sites and plans financing

April 19 (Reuters) - Kangmei Pharmaceutical Co Ltd

* Says 2016 net profit up 21.2 percent y/y at 3.3 billion yuan ($479.30 million)

* Says it sells two land sites for 398.2 million yuan

* Says it plans to issue up to 20 billion yuan debt financing instruments, up to 10 billion yuan ultra-short commercial paper

Source text in Chinese: bit.ly/2pB156m; bit.ly/2pfZNOa

Further company coverage: ($1 = 6.8850 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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