Anhui Weiming Biological Pharmaceutical Co., Ltd. and Wang Heping signed a stake transfer framework agreement to acquire Shenzhen Xinpeng Bio-tech Co., Ltd from Humanwell Healthcare (Group) Co.,Ltd. (SHSE:600079) for approximately CNY 240 million on January 8, 2016. Under the terms, 70% stake in Shenzhen Xinpeng Bio-tech Co., Ltd. shall be transferred to Anhui Weiming Biological Pharmaceutical Co., Ltd. for CNY 164.5 million and 30% stake in Shenzhen Xinpeng Bio-tech Co., Ltd. shall be transferred to Wang Heping for CNY 70.5 million. As of September 30, 2015, Shenzhen Xinpeng Bio-tech Co., Ltd reported total assets of CNY 130.12 million and net assets of CNY 71.27 million.

The transaction was approved by the Board of Humanwell Healthcare.