Grand Pharmaceutical (China) Co., Ltd. entered into an agreement to acquire the remaining 10% stake in Wuhan Grand Hoyo Co., Ltd. from Wuhan Sanzhen Industry Holding Co.,Ltd (SHSE:600168) for CNY 51.9 million on July 13, 2021. The consideration shall be paid within three working days after the date of the acquisition agreement. A deposit amounted to CNY 15 million has been paid by Grand Pharmaceutical (China) Co., Ltd. and will be used to settle part of the consideration. The transaction will be financed by the internal resources of Grand Pharmaceutical (China) Co., Ltd. In December 31, 2020, Wuhan Grand Hoyo Co., Ltd. reported a total revenues of CNY 572 million, net income of CNY 68.3 million and profit before tax of CNY 78.4 million. The transaction is subject to the approvals of shareholders of Wuhan Sanzhen Industry Holding Co.,Ltd and relevant authorities. Grand Pharmaceutical (China) Co., Ltd. completed the acquisition of remaining 10% stake in Wuhan Grand Hoyo Co., Ltd. from Wuhan Sanzhen Industry Holding Co.,Ltd (SHSE:600168) on August 6, 2021.