November 17 -- Henan Topfond Pharmaceutical ( 600253.SH), said controlling shareholder China General Technology Group Holding (CGTC) is planning a large-scale asset restructuring, reports Shanghai Securities News, citing a company filing.

In addition, CNTIC Trading ( 600056.SH) filed on November 15 that controlling shareholder China General Technology Group Holding, is planning a large-scale asset restructuring.

China General Technology Group Holding had restructured Topfond Pharmaceutical in 2009, and became its largest shareholder. China General Technology Group Holding thus had two listed pharmaceutical companies.

CNTIC Trading generated revenue of 6.26 billion yuan in 2010, of which medicine trading contributed 4.8 billion yuan.

Topfond Pharmaceutical mainly manufactures antibiotics raw materials, recorded revenue of 2.76 billion yuan last year, of which its pharmaceutical and medicine trading businesses accounted for 1.34 billion yuan and 1.43 billion yuan, respectively.

China General Technology Group Holding, which is also involved in equipment production, is regarded as the largest trader of medical-related products.

China General Technology Group Holding gave a commitment last year that it will eliminate horizontal competition within three to five years.

A number of analysts predict that the whole asset restructuring exercise will be completed at the soonest in 2014.

Share trading was suspended from yesterday till December 15.