Tus-Pharmaceutical Group Co., Ltd. (SZSE:000590) agreed to acquire 100% stake in Guangdong Sinotau Pharmaceutical Co., Ltd. from Beijing Xiantongyuan Pharmaceutical Technology Co., Ltd. and Li Yinqiang for CNY 220 million on August 2, 2022. Tus-Pharmaceutical Group Co., Ltd. (SZSE:000590) signed the equity transfer agreement to acquire Guangdong Sinotau Pharmaceutical Co., Ltd. from Beijing Xiantongyuan Pharmaceutical Technology Co., Ltd. and Li Yinqiang on August 22, 2022. In Guangdong Sinotau Pharmaceutical Co., Ltd. Beijing Xiantongyuan Pharmaceutical Technology Co., Ltd. holds 90% and Li Yinqiang holds 10% shares.

For the year ended March 31, 2022 Guangdong Sinotau Pharmaceutical Co., Ltd. reported Total assets of CNY 98.28 million and OwnerÆs equity of CNY 36 million. The transaction is approved by the Tus-Pharmaceutical Group Co., Ltd. (SZSE:000590) 9th directorate and the target companyÆs shareholdersÆ meeting already approved this transaction.