September 5 -- The effective controller of Anhui Fengyuan Pharmaceutical (000153.SZ) and Taifu Industry (000409.SZ) has changed from Fengyuan Group to Bengbu Galaxy Biotech, reports yicai.com, citing filings by both companies.

New China Trust (NCT) sold its 24 percent stake in Fengyuan Group to Galaxy Biotech for 248 million yuan, increasing Galaxy Biotech’s total shareholding from 25 percent to 49 percent. This allowed Galaxy Biotech to replace Bengbu State-owned Assets Supervision and Administration Commission as the largest shareholder of Fengyuan Group.

Fengyuan Group holds a direct stake of 26.78 percent in *ST Taifu and an indirect stake of 29.4 percent in Fengyuan Pharma. Galaxy thus became the effective controller of the two listed companies.

Shares of both listed companies fell last Friday.