![](http://www.cnlongnan.cn/upload/image/2013/05/21/1369105950984.jpg)
Gansu Duyiwei Biological Pharma (SHE: 002219) acquired Sichuan Huaji pharma with $16.6 million to enhance its capability in traditional Chinese Medicine extraction.
In 2012, Sichuan Huaji Pharma reported revenue of only $2.4 million and profit of $210,000, making the price seem very high relative to the company's financial performance. Sichuan Huaji manufactures extraction devices for decocting TCM raw ingredients from plants.
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