China Biologic Products Holdings, Inc. (NasdaqGS:CBPO) entered into share purchase agreement to acquire 80% stake in Tianxinfu (Beijing) Medical Appliance Co., Ltd. from PW Medtech Group Limited (SEHK:1358) for CNY 3.5 billion on October 12, 2017. China Biologic Products Holdings, Inc. will issue 5.52 million new shares for the acquisition. China Biologic is liable for a termination fee of CNY 20 million in immediately available funds if the share exchange agreement is terminated by PW Medtech. During the year ended December 31, 2016, Tianxinfu (Beijing) Medical Appliance Co., Ltd had net profit after taxation of CNY 132.5 million, total assets of CNY 810.3 million, and net assets of CNY 694.9 million. PW Medtech Group Limited shall be entitled to designate one director to the board of directors if hold more than 10% stake in China Biologic Products Holdings, Inc. The transaction is subject to approval of shareholders of PW Medtech Group Limited. China Biologic elected to exempt from the shareholder approval requirement under the applicable rules of the NASDAQ stock market for the proposed transaction. Directors of PW Medtech believe that the terms of the agreements are fair and reasonable and in the interests of the company and the shareholders as a whole. The transaction is expected to close 5 business days following the satisfaction of all conditions or any date mutually agreed. Bill Zima at ICR Inc. acted as PR advisor to China Biologic Products Holdings, Inc. Davis Polk, Wardwell LLP, Howard Zhang, Paul Chow, counsel Terrence R. O'Donnell and associate Kai Sun, Hong Kong Office acted as legal advisors for China Biologic Products.Wilson Sonsini Goodrich & Rosati acted as legal advisor for Tianxinfu (Beijing) Medical Appliance Co (PW Medtech Group Limited (PWM)

China Biologic Products Holdings, Inc. (NasdaqGS:CBPO) completed the acquisition of 80% stake in Tianxinfu (Beijing) Medical Appliance Co., Ltd. from PW Medtech Group Limited (SEHK:1358) on January 3, 2018.