Beihai Gofar Marine Biological Industry Co., Ltd. (SHSE:600538) agreed to acquire 30% stake in Beijing Xiangya Medical Technology Co., Ltd. from Beijing Physician Joint Technology Development Center (Limited Partnership), Wang Haolin and Xue Fan for CNY 21 million on November 14, 2018. As per the terms of transaction, Beihai Gofar Marine Biological Industry will acquire 4% stake from Beijing Xiangya Medical Technology, 25% stake from Wang Haolin and 1% stake from Xue Fan and will pay CNY 6.3 million as first installment within 2 days since completion of change of registry procedures, CNY 6.3 million will be paid within 2 days since the medical equipment in Jiangsu Suqian Project is fully in place and Beijing Xiangya receives all relevant equipment VAT from Chongqing Sanbo Project and Jiangsu Suqian Project as 2nd installment and CNY 8.4 million will be paid within 2 days since completion after completing the formal equity transfer procedures, and the installation and acceptance of medical equipment related to Chongqing Sanbo Project and Suqian Project are qualified and the relevant procedures for equipment purchase are complete as a third installment. The transaction has been approved at 12th meeting of the 9th directorate by Board of Directors of Beihai Gofar Marine Biological Industry Co., Ltd. The transaction is not subject to approval from the shareholders of Beihai Gofar Marine Biological Industry. Beihai Gofar Marine Biological Industry Co., Ltd. (SHSE:600538) cancelled the acquisition of 30% stake in Beijing Xiangya Medical Technology Co., Ltd. from Beijing Physician Joint Technology Development Center (Limited Partnership), Wang Haolin and Xue Fan on November 14, 2019.