Shanghai Kehua Bio-engineering Co., Ltd (SZSE:002022) agreed to acquire 51% stake in Guangzhou Kehua Bio-engineering Co., Ltd from Zhuhai Qianji Yongtai Enterprise Management Center (limited partnership) for CNY 21.4 million on January 4, 2018. Payment will be done in 3 installments. The first installment of CNY 11.42 million will be paid after 15 working days since delivery of the underlying equity of Guangzhou Kehua Bio-engineering Co., Ltd. A second installment of CNY 5 million will be paid after assessment of the actual earnings of Guangzhou Kehua Bio-engineering Co., Ltd in the year of 2018. A third installment of CNY 5 million will be paid after assessment of the actual earnings of Guangzhou Kehua Bio-engineering Co., Ltd in the year of 2019. After assessment of the actual earnings of Guangzhou Kehua Bio-engineering Co., Ltd in the year of 2020 all required price adjustments will be paid (if any). In a related deal, Shanghai Keshang Medical Equipment Co., Ltd., subsidiary of Shanghai Kehua Bio-engineering Co., Ltd agreed to acquire 38.93% stake in Nanjing Yuanheng Bio-engineering Co., Ltd. for CNY 48 million on January 4, 2018. Also, Shanghai Keshang Medical Equipment Co., Ltd will subsequently carry out a capital increase of 12.58% stake in Nanjing Yuanheng Bio-engineering Co., Ltd. for CNY 32 million. The 9th meeting of the 7th directorate of Shanghai Kehua Bio-engineering Co., Ltd approved the deal on January 4, 2018.