Guangdong Taienkang Pharmaceutical Co., Ltd (SZSE:301263) entered into an investment agreement to acquire BCY Pharm Co., Ltd from Nanjing Baijiahui Biotechnology Development Co., Ltd. and others for CNY 200 million on February 14, 2023. The board of director of Guangdong Taienkang Pharmaceutical approved the acquisition. As of December 21, 2022, BCY Pharm reported total assets of CNY 13.86499 million, net assets of CNY 5.038 million, operating profit of CNY -11.1261 million (EBIT) and net income of CNY -11.1236 million.

The first equity transfer payment of CNY 50 million, shall be paid within 5 working days after this agreement becomes effective, the second equity transfer payment of of CNY 100 million shall be paid within 5 working days from the date of completion of the industrial and commercial change registration of the target equity transfer if all the prerequisites mentioned in this agreement are met or exempted in writing by the obligee and the third equity transfer payment of CNY 50 million shall pe paid before December 31, 2023.