April 5, 2017 / 10:07 AM / 4 months ago

BRIEF-Northeast Pharma returns to profit in 2016, plans share placement, tech upgrade

1 Min Read

April 5 (Reuters) - Northeast Pharmaceutical Group Co Ltd

* Says it returns to net profit of 23.8 million yuan ($3.45 million) in 2016 versus net loss of 384.4 million yuan year ago

* Says it aims to raise up to 1.4 billion yuan in private placement of shares to fund vitamin C production project

* Says it plans to invest 130 million yuan in technology upgrade in 2017

Source text in Chinese: bit.ly/2na91ea; bit.ly/2nDlUcp; bit.ly/2nJdXTz

Further company coverage: ($1 = 6.8960 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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