October 25 -- Shandong Dong-E E-Jiao (000423.SZ), a maker of E-jiao, a traditional Chinese medicine consisting of treated donkey skin, plans to sell its entire 65 percent stake in Hubei Jinma Pharmaceutical for 22.53 million yuan, reports China Business News, citing a company filing.

Jinma Pharma specializes in the wholesale of pharmaceuticals and health care products. It recorded 2010 revenue of 252 million yuan and net profit of 5.51 million yuan.

According to Dong-E E-Jiao, the company is selling the subsidiary as it plans to withdraw from its other businesses and focus on the E-jiao business.

The proposed sale was planned in the first half, and Jinma was therefore not consolidated into its first half financial statements.

Dong-E E-Jiao filed yesterday that revenue and net profit increased 4.87 percent and 45.93 percent year-on-year to 1.86 billion yuan and 613 million yuan during the first three quarters.