China's Yongji Health Takes Control of Tasmanian Botanics

Yongji Health, a Chinese company that was already a shareholder in Tasmanian Botanics, has completed the acquisition of the remaining shares held by the Australian producer’s original investors. The transaction, valued at 31 million Australian dollars, now gives the Chinese group virtually complete control of the Tasmanian company.

The transaction, which was completed in September 2026 and reported by Cannabiz.com.au, also illustrates the continued interest of international investors in Australian assets related to the regulated production of medical cannabis.

Yongji Health Acquires Tasmanian Botanics

The transaction involves the shares of Pijen, the holding company that controls 96,491 TP3T from Tasmanian Botanics. Yongji Health, which already held a stake in this company, acquired the 52,691 TP3T remaining, which was previously owned by the project's initial investors.

The purchase price amounts to 31 million Australian dollars, approximately 20 million euros.

In particular, the securities were repurchased from Marlene Anne Fehlberg, Rodney David Fehlberg, and Tony Alan Fehlberg, who were among the company’s long-standing supporters. As a result of this transaction, Yongji Health now holds virtually complete economic control of Tasmanian Botanics through Pijen.

However, this takeover is not a sudden entry by the Chinese group into the company’s ownership structure. Rather, it is the culmination of an investment strategy already underway with the Australian company.

A Chinese Investment in Australia's Medical Cannabis Industry

Yongji Health is a subsidiary of Guizhou Yongji Printing, a company listed on the Shanghai Stock Exchange. Its presence in the cannabis industry is driven in particular by its Australian company Y Cannabis Holdings Pty Ltd.

The group is also the parent company of Phytoca, an Australian company specializing in medical cannabis. This structure gives Yongji Health a presence across several segments of the Australian industry, from cultivation to the marketing of products for patients.

The acquisition of Tasmanian Botanics thus strengthens an already established presence rather than creating a new business from scratch.

Tasmanian Botanics Changes Its Shareholder Structure

Established in Tasmania, Tasmanian Botanical Gardens has developed around culture and medical cannabis production. In particular, the company benefits from the island's weather conditions and an infrastructure designed to supply the regulated therapeutic market.

The change in control comes at a time when Australian companies in the sector are seeking to achieve sufficient scale to absorb high production, compliance, and distribution costs, while the Australian market is under pressure from medical cannabis imports.